Asthildur Otharsdottir is an independent advisor and board director. She is the Chairman of the Board of Frumtak Ventures investment fund and a director of Promote Iceland. Otharsdottir is on the Board of Governors of the University of Iceland, the board of the Nordic Arbitration Centre at the Icelandic Chamber of Commerce and the board of Women Corporate Directors. She is a former director and chairman of the audit committee of Icelandair Group and several other organizations. Otharsdottir served as the Global Director of Corporate Development at Össur hf., where she managed several international acquisitions, corporate funding, investor relations and the dual listing of the company’s shares on Nasdaq Copenhagen. Prior to that, she served as a Senior Manager in Corporate Banking at Kaupthing Bank as well as a management consultant at Accenture in Copenhagen.

She has no interest links with Marel's main customers, competitors or major shareholders.

EDUCATION MBA, Rotterdam School of Management, the Netherlands Cand. Oecon., University of Iceland

ELECTED 2013 Chairman of the Board 2012 Vice Chairman 2011 Chairman of the Audit Committee 2010 Director

SUB-COMMITTEES Remuneration Committee (chair) Nomination Committee

HOLDINGS IN MAREL 32,000 shares

Arnar Masson is currently Chief Human Resources and Strategy Officer at Isavia, a company that handles the operations and development of all airports in Iceland. Before that, Masson was an alternate director at the European Bank for Reconstruction and Development (EBRD) in London, an investment and development bank that works primarily with private sector clients in developing economies. Before joining EBRD, he was Director-General in the Prime Minister’s Office in Iceland, overseeing organizational changes and coordinating the implementation of cross-cutting policy and strategic initiatives.

Prior to that, he worked in the Ministry of Finance and was responsible for public sector reforms, performance management, and state-owned enterprise governance. From 2000-2008 Masson held an adjunct lecturer position at the Department of Political Science of the University of Iceland. Masson has experience in corporate strategy, human resources, corporate social responsibility and finance and has worked with emerging markets. He has done executive courses for board directors both at Harvard Business School in the US and IMD in Switzerland.

He has no interest links with Marel's main customers' competitors or major shareholders.

EDUCATION MSc, Comparative Politics, London School of Economics and Political Science BA, Political Science, University of Iceland

ELECTED 2013 Vice-chairman 2001 Board Director

SUB-COMMITTEES Remuneration Committee Audit Committee (chair) Nomination Committee (chair)

HOLDINGS IN MAREL 0 shares

Dr Olafur S. Gudmundsson is currently the Head of Discovery Pharmaceutics and Analytical Sciences at Bristol-Myers Squibb (BMS), a global biopharmaceutical company. For more than two decades, Dr Gudmundsson has held roles of increasing responsibility within research and development, covering multiple therapeutic areas and stages of drug discovery, both for Bristol-Myers Squibb and Genentech Inc.

During his tenure at BMS, Dr Gudmundsson has helped bring multiple drug candidates to clinical trials, several of which have become marketed products. In his time within the pharmaceutical industry, Dr Gudmundsson’s responsibilities have included involvement with global portfolio strategy, evaluation of external acquisitions, strategic innovations, and integration of merged companies. Dr Gudmundsson has participated in governance teams providing input on global portfolio optimization and prioritization, lead process optimization teams and chairing integration teams.

Dr Gudmundsson is also associated with the graduate program of the Pharmaceutical Chemistry department at Purdue University. Currently, Dr Gudmundsson is a board member of Eyrir Invest, Marel's largest shareholder, as well as Glo and Noruz ehf.

He has no interest links with Marel's main customers.

EDUCATION PhD, Pharmaceutical Chemistry, University of Kansas Cand. Pharm., Pharmacy, University of Iceland

ELECTED 2014

SUB-COMMITTEES Remuneration Committee Nomination Committee

HOLDINGS IN MAREL 1,705,427 shares

Astvaldur Johannsson is Business Development Director at Controlant, a real-time monitoring Internet of Things (IoT) software solution company. His previous international business experience includes senior management positions within different markets at Össur hf., a global medical devices manufacturer and as an Executive Director leading the international division of Valitor hf., an eCommerca payment solutions and services provider Johannsson served as a member of the Executive Team of the IT company Nyherji hf., as Sales and Marketing Director at Penninn, and as a system analyst expert in the IT sector focusing on process design and development.

Johannsson is a proactive professional with extensive international experience of leadership within a multi-national culture and cross-functional environments, both on the executive and on a board level. He has a comprehensive background and knowledge in formulating and implementing policy and strategy, leading and integrating new businesses and initiatives to improve business performance.  

Johannsson has a solid background in managing business-to-business and business-to-consumer sales and marketing, business development, supply chain, outsourcing, negotiating, contracts and product management along with operations knowledge and experience in varying industries with progressive and successful organizations.

He has no interest links with Marel's main customers, competitors or major shareholders.

EDUCATION MBA, University of Iceland BSc, Management Information Systems, Heriot-Watt University

ELECTED 2014

SUB-COMMITTEES Audit committee

HOLDINGS IN MAREL 0 shares

Since 2013 Jonsdottir has been Managing Director of Operations of Eyrir Invest hf. and before that, she was CFO of Eyrir Invest hf. from 2004. Previously she was CFO of the Icelandic Met Office, EVP Finance at Edda Publishing at that time the largest media and publishing company in Iceland, Director of Finance at Kreditkort/MasterCard and Manager of Finance at FBA Investment Bank and one of FBA‘s predecessors, The Industrial Loan Fund.

In all positions she has held, Jonsdottir was member of the Executive Team and as such has participated in strategic planning and strategy execution. She has been responsible for international and domestic funding, accounting, budgeting as well as integration and process building of merged companies. She served as the chair and committee member of credit committees, pricing committees and audit committees.

For over a decade, Jonsdottir worked as a Finance Manager and an Account Manager for one of Iceland‘s largest meat processing companies, Slaturfelag Sudurlands (SS) and held a seat on the Board of Directors of SS pension fund for five years.

She has no interest links with Marel's main customers or competitors.

EDUCATION MSc, Accounting and Auditing, University of Iceland Cand. Oecon., Business Administration, University of Iceland

ELECTED 2006

SUB-COMMITTEES Audit committee

HOLDINGS IN MAREL 195,113 shares

Ton van der Laan is a Dutch national residing in the Netherlands. He has extensive experience from several executive roles in the food, feed and commodity industries. He is a non-executive board member of Vion Foods, Royal de Heus, Dümmen Orange and the Rainforest Alliance. Van der Laan is the former CEO of Nidera, a company globally active in financing and distribution of grains and oilseeds, EVP Animal Proteins and Animal Nutrition at Cargill in the USA, CEO of Provimi in the Netherlands, an acknolwedged leader in the animal nutrition industry.

Previously, Van der Laan held several executive roles at Unilever, the Anglo-Dutch consumer food company, for over 22 years. There he was located in the Netherlands, UK, Czech Republic and Slovakia. He has also served as the Managing Director of Philips Domestic Appliances and Personal Care. Van der Laan possesses extensive experience in multi-national businesses, strategic planning, portfolio management, acquisitions and company restructuring, large and small scale integrations and top team development.

He has no interest links with Marel's main customers, competitors or major shareholders.

EDUCATION MSc, Mechanical Engineering, Twente University New Board Program, Nyenrode Business University

ELECTED 2019

SUB-COMMITTEES Audit committee

HOLDINGS IN MAREL 0 shares

Ann Savage previously served as Technical Director of Bakkavor Group. Her primary responsibilities have included food safety, health and safety management, manufacturing excellence and corporate social responsibility management in the UK, US and Asia. Savage has held a variety of roles in technical, and research and development departments within the retail and food industry over her 35-year career. She worked for the Cooperative Wholesale Society (CWS), Northern Foods from 1990 until 1999 and at Geest/Bakkavor for over 19 years.

Savage‘s responsibilities have included representing businesses with UK regulators such as Food Standards Agency, Department for Environment Food and Rural Affairs, Health Protection England. She has chaired the Food Network for Ethical Trade, the IGD Technical Leadership Forum, and been a member of the advisory group for the Better Regulation Task Force and the British Retail Consortium Advisory Board. Savage has worked closely with UK retailers to deliver on their corporate social responsibility commitments and to develop reporting procedures.

She has experience in operational management, product development and incident management. She has worked with Farm Africa in both Tanzania and Kenya to support African endeavors in tilapia fish farming and beekeeping. She is currently a technical advisor to Gousto, a member of her parish council and a Governor of Boston College, one of the top five colleges in the UK.

She has no interest links with Marel's main customers, competitors or major shareholders.

EDUCATION Mathematics, Technology and Systems Management, Open University Post Graduate Diploma in Management Studies, Nottingham University

ELECTED 2013

SUB-COMMITTEES Remuneration committee

HOLDINGS IN MAREL 0 shares