John Bean Technologies Corporation (NYSE:JBT) (?JBT? or the ?Company?) issued the following statement: ?On November 24, 2023, JBT confirmed that it has submitted a non-binding initial proposal to the board of directors of Marel hf. (ICSE:MAREL) (?Marel?), whose shares are listed on Nasdaq Iceland and Euronext Amsterdam, in respect of a potential voluntary takeover offer for the entire share capital of Marel in accordance with Chapters X and XII of the Icelandic Takeovers Act no.

108/2007. JBT has received an irrevocable undertaking and entered into exclusivity with respect to the shares owned by Eyrir Invest hf., which holds 24.7% of the shares in Marel. This announcement follows Marel?s disclosure that it had received a potential offer to acquire all shares in the company?.

?JBT´s non-binding proposal is consistent with the company?s strategic plan and M&A objective of pursuing transactions with strong industrial logic and significant synergy potential while maintaining a strong balance sheet and preserving future strategic flexibility?. ?JBT?s considerations are at a preliminary stage and there can be no assurance that any formal offer will be made as a result of these considerations. JBT does not intend to comment further unless and until its board determines that it is required or appropriate to do so.?

Goldman Sachs Co LLC is acting as JBT?s financial advisor and LEX and Kirkland & Ellis LLP are serving as legal counsel.