JBT MAREL Corp (JBTM) May 14, 2026 Annual General Meeting Transcript

Good morning. I'm Alan Feldman, Chairman of the Board of Directors of J.B.T. Morrell Corporation. And on behalf of the company, I want to welcome you to our 2026th Annual Meeting of Stockholders. Before proceeding with the business portion of our meeting, I'm pleased to introduce our other board members who are joining us today. Barbara Brazier, Brian Deck, our CEO, Suafa Groddenfeld, Olafur Gudmundson, Charles Harrington, Lawrence Jackson, Polly Kowalik, Arnaur Masson, and Ann Savage. Representatives from the external audit firm PricewaterhouseCoopers, which audited our 2025 financial statements, are in attendance on the call today. And they are Amir Collis and Maggie Johnson. And our Inspector of Elections, who was appointed by our board, is Robert Johnson. Jim Pelletier is our Corporate Secretary, and I will ask him to report on the mailings of the notices.

Jim. Thank you, Alan, and welcome, everyone. The company's 2025 Annual Report and Notice of the 2026 Annual Meeting of Stockholders, or Notice of Internet Availability of the Proxy Materials, were mailed beginning on April 1, 2026, to each holder of JBT Morrell Corporation Common Stock at the close of business on March 16, 2026. A complete list of the stockholders entitled to vote at the meeting has been open to inspection by any stockholder for the past 10 days, as has an affidavit attesting to the mailing of the proxy. As a reminder, as is our custom, we will conduct the business portion of our meeting first and answer any questions at the end of the meeting. Please note that you may submit questions throughout the meeting through the designated Q&A feature contained within the virtual meeting website. You do not need to wait until the end of the meeting. Only validated stockholders may ask questions in the designated field on the web portal. Out of consideration for others, please limit yourself to one question. We may not be able to answer all questions. Please note that the meeting is being recorded. However, no one attending via the webcast or telephone is permitted to use any audio recording device.

Thank you, Jim. I would like now to officially call this meeting to order. Jim, will you now report on the attendance at this meeting?

Yes. The Inspector of Elections has verified that proxies representing at least 46,668,495 shares of common stock have been received. These proxies represent 89% of the total shares issued and outstanding and entitled to vote at this meeting. Because this represents more than a majority of the voting power of all issued and outstanding stock entitled to vote on the record date, a quorum is present for purposes of transacting business.

Very good.

Thank you, Jim.

Proper notice of the meeting has been given, and there is a quorum of the common stock present. This meeting is therefore lawfully convened and ready to transact business.

Polls are open. Any stockholder who has not yet voted or wishes to change their vote may do so by clicking on the voting button on the web portal and following the instructions there. Stockholders who have sent in proxies or voted via telephone or internet and do not want to change their vote do not need to take any further action.

Our first item of business is the election of 10 directors for terms to expire at the 2027 Annual Meeting of Stockholders, and until their successors are duly elected and qualified. The nominees are Barbara Brasher, Brian Deck, Alan Feldman, Suava Gottfried, Gretlinson, Charles Harrington, Lawrence Jackson, Holly Kowalik, Arnar Mison, and Ann Savage. Our second item of business is the advisory vote of stockholders to approve the 2025 compensation of our executive officers as reported in our proxy statement. And our third and final item of business is the proposal that our stockholders ratify the appointment of PricewaterhouseCoopers by the audit committee as the company's independent public accounting firm for 2026.

As a reminder, if any stockholders have not yet voted or wish to change their vote, please do so at this time. Now that everyone has had the opportunity to vote, I now declare the polls for the 2026 JBT Morrell Annual Stockholder Meeting closed as of 9.34 a.m. Central Time on May 14, 2026.

Jim, do we have any preliminary voting results?

Yes, Alan, we do. We have voted the proxies we hold from our stockholders, authorizing us to vote shares, respectively, for the election of Barbara Brazier, Brian Deck, Alan Feldman, Swaffa Grunfeld, Olafar Goodmanson, Charles Harrington, Lawrence Jackson, Polly Kowalik, Arnar Masson, and Ann Savage as directors accordingly, and based on these votes, they have been so elected. We have also voted the proxies we hold from our stockholders, authorizing us to vote shares for approval of proposals 2 and 3, and based on these votes, such proposals have been approved. We will be reporting the final vote results on a Form 8K to be filed within four business days of this meeting.

There being no further business to be conducted, the business portion of this meeting is hereby adjourned.

Having not received any questions at this time, we appreciate your attendance at our annual meeting of stockholders.

On behalf of the JBT Morrell Corporation's Board of Directors and employees, thank you for your attendance today and for your continued interest in JBT Morrell.