Marel (MAREL) AGM 2022 summary

Opening remarks and agenda

• Virtual AGM held 16 March 2022; the Chairman addressed shareholders and the CEO presented the 2021 consolidated financial statements and business review.

• All Board proposals put to the meeting were approved.

Financial performance review

• Orders received increased 22% in 2021, reflecting demand for solutions, software and services amid labor scarcity, changing consumer behavior and sustainability priorities.

• 2021 revenue was EUR 1.4 billion; the healthy order book and strong pipeline were expected to support a higher revenue base.

Board and executive committee updates

• Ann Elizabeth Savage, Arnar Thor Masson, Astvaldur Johannsson, Lillie Li Valeur, Olafur Gudmundsson, Svafa Gronfeldt and Ton van der Laan were elected until the next AGM.

• Arnar Thor Masson was appointed Board Chairman and Olafur Gudmundsson Vice-Chairman.