JBT MAREL Corp (JBTM) Business

ITEM 1.    BUSINESS

GENERAL

We are a leading and diversified global technology solutions and service provider to high-value segments of the food and beverage industry. We design, produce, and service sophisticated products and systems for multi-national and regional customers. Our purpose is to transform the future of food by providing solutions that substantially enhance our customers’ success, and in doing so design, produce and service sophisticated and critical products and systems for food and beverage companies that increase yields, boost efficiency, and improve food safety.

We were originally incorporated in Delaware in May 1994. Our principal executive offices are located at 333 West Wacker Drive, Suite 3400, Chicago, Illinois 60606 and our European headquarters is located at Austurhraun 9, 210 Gardabaer, Iceland.

Operating results and additional financial data and commentary are provided in the Results of Continuing Operations section in Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations of this Annual Report on Form 10-K.

Strategic Acquisition of Marel hf.

On January 2, 2025, we completed the acquisition of Marel hf. (“Marel”), subsequently renamed JBT Marel ehf. (such acquisition, the “Marel Transaction”). The purpose of the Marel Transaction was to create a leading and diversified global food and beverage technology solutions provider by bringing together two renowned companies with long histories, complementary product portfolios, highly respected brands, and cutting-edge technology to enable global customers to more efficiently access industry leading technology worldwide. Refer to Note 2. Acquisitions of the Notes to the Consolidated Financial Statements for additional information.

In conjunction with the combination of JBT and Marel, JBT changed its corporate name and stock ticker symbol to “JBT Marel Corporation” and “JBTM,” respectively, on January 2, 2025. Shares of JBTM remain listed on the New York Stock Exchange (NYSE) with a secondary listing on Nasdaq Iceland. Shares of JBTM commenced trading on both NYSE and Nasdaq Iceland on January 3, 2025.

Business Segments

Following the acquisition of Marel, we operated through two segments, JBT and Marel, which were comprised of the legacy operations of each business. During the fourth quarter of 2025, we realigned our reportable segments to better reflect the integration of our new operating model. We now operate through two reportable segments: Protein Solutions and Prepared Food and Beverage Solutions.

The Protein Solutions segment includes businesses that provide solutions for initial stage processing and harvesting of animal proteins, primarily focusing on poultry, pork, fish, and beef. Examples of core technologies include primary processing systems, cut-up, bone detection and removal, portioning, and robotic batching.

The Prepared Food and Beverage Solutions segment includes businesses that offer solutions predominantly for downstream value-added preparation, preservation, and packaging of foods and beverages into ready to eat or drink products. This segment also includes capabilities for pet food, dairy, bakery, pharmaceutical and nutraceutical, and warehouse automation end markets. Examples of core technologies include meat preparation, forming, cutting, slicing, cooking, freezing, extraction, blending, filling, preservation, labeling, packaging, and automated guided vehicles.

For further segment information, see Part II, Item 7: Management’s Discussion and Analysis of Financial Condition and Results of Operations and Note 20 of the Notes to Consolidated Financial Statements in Part II, Item 8: Financial Statements and Supplementary Data of this Form 10-K.

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DESCRIPTION OF BUSINESS

We provide comprehensive solutions throughout the food production value chain, extending from primary processing through labeling and packaging systems for a large variety of food and beverage end markets, including poultry, beef, pork, seafood, ready-to-eat meals, fruits, vegetables, plant-based meat alternatives, dairy, bakery, pet foods, soups, sauces, juices, and aqua feed. Our solutions also support nutraceutical and powder applications. We also provide stand-alone, fully integrated, and dual-mode robotic automated guided vehicle systems for repetitive material handling requirements with a wide variety of applications, including automotive manufacturing, warehousing, and medical facilities.

Our equipment offerings include primary, secondary and further value-added processing, including standalone and full-line solutions, software and services for live animal handling, stunning, slaughtering, scalding/dehairing, chilling, mixing/grinding, separation, injecting, blending, marinating, tumbling, flattening, forming, portioning, coating, cooking, frying, freezing, extracting, pasteurizing, sterilizing, concentrating, high pressure processing, weighing, inspecting (using the latest x-ray technology), filling, closing, sealing, end of line material handling, labeling, and packaging solutions, which support a large and growing portfolio of food, beverage, and health end markets.

Our historically strong position in the markets we serve has provided us with a large installed base of systems and equipment that is a source of recurring revenue from our aftermarket parts and service offerings and re-build services for customer-owned equipment. We offer full service operating leases on certain high-capacity industrial extractors, which include routine parts and maintenance support. Recurring revenue accounted for 50% of total revenue in 2025.

We believe our success is derived from continued innovation, applying differentiated and proprietary technologies to meet customers’ food and beverage processing needs. We continually strive to improve existing products and develop new solutions by working closely with our customers to meet their evolving needs. The installed base of our systems and equipment also provides us with strong, long-term customer relationships from which we derive information for new product development to meet the evolving needs of our customers.

We have operations strategically positioned around the world to serve our existing equipment installed base. We operate more than 50 manufacturing and distribution facilities worldwide. Our principal production facilities are located in the United States (Arkansas, California, Florida, Georgia, Kansas, New York, North Carolina, Ohio, Pennsylvania, Virginia and Wisconsin), Brazil, Belgium, China, Denmark, Germany, Iceland, India, Italy, Slovakia, Spain, Sweden, the Netherlands, and the United Kingdom. Including our sales and services offices, we have operations based in more than 30 countries, and we also support our customers in their development of new food products and processes as well as the refinement and testing of their current applications through 17 technical centers located in the United States (California, Florida, Iowa, Kansas, and Ohio), Mexico, Brazil, Belgium, Denmark, Germany, Italy, Spain, Sweden, and the Netherlands. Our global presence allows us to provide direct customized support to customers virtually anywhere they process food.

Sale of AeroTech

On August 1, 2023, we completed the sale of the AeroTech business segment (“AeroTech”). This sale was completed pursuant to the Stock and Asset Purchase Agreement, dated May 26, 2023, to sell AeroTech to Oshkosh Corporation. This divestiture supported the Company’s strategy to become a pure-play food and beverage solutions provider. For additional information, refer to Note 3. Discontinued Operations of the Notes to the Consolidated Financial Statements.

Solutions, Products and Services

We offer a broad portfolio of systems, equipment and services to our customers which are often sold as part of a fully integrated processing line solution. Our systems are typically customized to meet a large variety of customer application needs within food and beverage end markets, including poultry, beef, pork, seafood, ready-to-eat meals, fruits, vegetables, plant-based meat alternatives, dairy, bakery, pet foods, soups, sauces, juices, and aqua feed. Thus, actual production capacity ranges vary and are dependent on the food and product packaging type being processed. Our fully integrated processing lines often span from the initial point of entry of raw products through further processing and end of line packaging.

The initial step in the food processing cycle is primary processing, where the edible food product is extracted from the raw commodity or preserved in its raw form to increase shelf life. Our primary processing offerings increase food yield, lower energy and water usage, reduce food waste, and enhance food safety. In the primary processing space, we offer solutions for meat, fish, and poultry applications, and fruit and vegetable processing equipment. Products in the primary processing space include:

•live bird handling systems;

•poultry overhead and conveyance systems;

•offal and feather processing;

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•meat and poultry processing applications, including stunning, bleeding, scalding, picking, evisceration, maceration, water re-use, paw processing, cut-up and deboning, wing segmentation, and skinning equipment;

•pathogen protection for poultry and meat applications;

•freezing, chilling, refrigeration, and proofing systems;

•industrial citrus, tropical and temperate fruit and vegetable processing equipment, including cleaning, grading, storing, feeding, finishers, pulp systems, evaporators, ingredient recovery systems, slicing, washing, drying, transporting, and mixing;

•specially formulated fruit and vegetable cleaners, post-harvest sanitizers, fungicides, and coatings;

•skid-mounted products, including solutions for aseptic sterilization, bulk filling, and labelling, as well as ingredient and by-product recovery and clean-up systems; and

•high-capacity industrial juice extractors; and

•point of use produce juicers for retail markets.

The next step in the food processing cycle is secondary processing where the raw ingredients prepared through primary processing are transformed into consumable food products or are further preserved. Our secondary processing offerings add further value by transforming food into a more marketable and edible product while reducing labor through automation, increasing yields, improving product quality, reducing energy and water usage, lowering food waste, and enhancing food safety. In the secondary processing space, we supply a broad portfolio of processing solutions for customers producing protein products, such as meat, poultry, and seafood, and liquid food and beverage products, including products used standalone or as ingredients in dairy products, bakery products, and fruit-based beverages. Products in the secondary processing space include:

•meat, fish, and poultry processing functions, including tenderization, portioners and waterjet portioners, slicers and cordon-bleu slicers, attribute scanners/sorters, injectors, scales and weighing systems, brine preparation, injection, marination, mixers, grinders, flatteners, formers, and tenderizers;

•x-ray detection systems created for the unique needs of poultry, meat, and fish;

•aseptic systems, including sterilizers, fillers, blow molders and controls that can be used for bulk or retail production of diverse products such as not-from concentrate orange juice, milk, alt-dairy, purees, soups, sauces, and concentrates;

•flavor vats, batching systems, melting systems, and storage tanks;

•fully integrated industrial preservation systems that enable production of extended shelf life and shelf-stable foods in a wide variety of flexible, rigid, and semi-rigid packages;

•rotary and linear filling and closing technologies for metal cans, glass jars, glass and plastic bottles, and pouches; and

•integrated solutions for the processing of extended shelf life and shelf-stable food and liquid products including a line of continuous hydrostatic sterilizers, continuous rotary sterilizers, batch retorts, heat exchangers, and thermal process controls.

The final step in the food processing cycle is further processing where the food product is further refined through a variety of different value-added techniques for broader or more convenient consumption. Our further processing offerings enhance the quality of the final food product while reducing labor through automation, improving product quality, reducing energy and water usage, lowering food waste, and enhancing food safety. In the further processing space, we supply a comprehensive portfolio of high-volume industrial batch and continuous cooking and freezing solutions, in addition to capabilities in filling, mixing and blending, high pressure processing extrusions, fresh-cut produce, infant food, pet food, snacks, cereals, texturized vegetable and meat proteins, and pharma/nutraceuticals. Products in the further processing space include:

•cookers, fryers, spiral and linear ovens and cooking systems, coating and seasoning applicators, pasteurizers, and proofers;

•design, assembly, testing, and installation of self-stacking spiral ovens, freezers, chillers, individual quick freezing (IQF) systems, linear/impingement freezing systems, and flat product and contact freezers;

•equipment to clean, mix, grade, sort, and blanch produce, fresh-cut salads, fruits, and vegetables;

•powder and linear fillers, and vacuum fillers, a leading filler for high-value powdered food;

•solutions for blending, filling, container handling and seaming on high-capacity beverage lines packaged in cans or bottles;

•high-pressure processing equipment, supporting clean-label products and non-thermal preservation solutions for a broad array of market segments;

•continuous extrusion cooking, drying, coating, and cooling equipment and process systems for the pet food, human food, and aqua-feed end market segments;

•integrated solutions services for end-to-end facility and food safety design, process flows, total cost of ownership analysis, project management, commissioning, training, and process system auditing;

•full line solutions for wet and dry pet food and treat producers; and

•modularized tanks, skids, and bioreactors as well as installation of sanitary/high purity piping that plays a vital role in producing vaccines and medicines.

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In the packaging space, we supply labeling and packaging systems, tray seal packaging equipment, weigh price labelers and case packers providing automatic in-line solutions for the food segment. Our tray sealing solutions help extend the shelf life of packaged food and can reduce plastic consumption versus traditional packaging methods, offering solutions in a wide range of industries including, food, pharmaceutical, and retail markets.

We are a recognized U.S. Department of Agriculture (“USDA”) and Food and Drug Administration (“FDA”) Food Process Authority and offer consulting services to help design food production processes in accordance with the USDA’s and FDA’s stringent requirements. Our solutions also include specialized material handling systems to automate the handling and tracking of processed and unprocessed containers as well as software and controls provided by AutoCoding Systems that help our customers optimize and track their processes to allow real time modifications in the case of process deviations.

Across our equipment and technologies, we create shared value for our food and beverage customers by offering high-quality, technologically advanced, and reliable solutions that deliver quality performance while also striving to support customer sustainability objectives. As a result, many of our solutions seek to minimize food and packaging waste, extend food product life, optimize and reduce water and energy usage, increase yield and maximize efficiency.

Automated Systems. We are a leading global supplier of robotic automated guided vehicle systems for material handling requirements with a wide variety of applications, including automotive manufacturing, warehousing, and medical facilities. We provide engineering services and simulations to evaluate material handling requirements, standard and custom automated guided vehicle hardware and software, and fully integrated system hardware and software for a scalable solution that can be applied individually or across the entire customer enterprise.

Aftermarket Products, Consumables, Parts, and Services. We provide aftermarket products, parts, and services for all of our integrated food processing systems and equipment. We provide retrofits and refurbishments to accommodate changing operational requirements, and we supply our own brand of food grade lubricants and cleaners designed specifically for our equipment. We supply packaging material components for our clip packaging customers in the form of metal clips and hanging loops. We also provide continuous, proactive service to our customers including through the fulfillment of preventative maintenance agreements and consulting services such as water treatment, corrosion monitoring control, food safety and process auditing, and the expertise of on-site technical personnel. In addition to helping our customers reduce their operating costs and improve efficiencies, our customer service focus also helps us maintain strong commercial relationships and provides us with ongoing access to information about our customers’ requirements and strategies to foster continuing product development. Our aftermarket products, parts, and services, coupled with our large installed base of food processing systems and equipment, provide us with a strong base for growing recurring revenue. Sales of aftermarket products, parts and services are consolidated within the total revenue of the related business.

We offer AXIN, our advanced, overarching food processing software platform, which can be installed alongside our equipment and systems, as well as third-party equipment to optimize production, manage complex operating challenges and facilitate reporting regarding compliance. Integrated with hardware, AXIN ranges from simple machine control modules to total processing solutions, which include real-time monitoring and data analytics of key performance indicators such as yield, throughput, quality, capacity and labor efficiency.

We also provide proactive services to our customers including the fulfillment of preventative maintenance agreements, such as PRoCARE® and consulting services. Those include service, parts availability, and machine optimization capabilities - powered by AXIN built on a digital infrastructure leveraging AI, machine learning, and predictive analytics.

Order Backlog

For information regarding our order backlog, refer to the section entitled “Inbound Orders and Order Backlog” in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations of this Annual Report on Form 10-K

Sales and Marketing

We sell and market our products and services predominantly through a direct sales force, supplemented with independent distributors, sales representatives, and technical service teams. Our experienced global sales force is comprised of individuals with strong technical expertise in our products and services and the industries in which they are sold.

We support our sales force with marketing and training programs that are designed to increase awareness of our product offerings and highlight our differentiation while providing a set of sales tools to aid in the sales of our technology solutions. We actively employ a broad range of marketing programs to inform and educate customers, the media, industry analysts, and academia through targeted newsletters, our website, blogs, social media platforms, seminars, trade shows, user groups, and conferences. We regularly

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introduce new internal digital resources designed to accelerate the quote-to-order process, identify cross-selling opportunities between our separate businesses. In addition, we utilize marketing automation processes and technology to drive lead generation.

Competition

We conduct business worldwide and compete with large multinational companies as well as a variety of local and regional companies of various sizes and cost structures, which typically are focused on a specific application, technology or geographical area. All of our business lines serve highly competitive markets.

JBT Marel’s major competitors include, but are not limited to, Advanced Equipment Inc.; Alit SRL; Allpax Products, Inc.; Atlas Pacific Engineering Company, Inc.; Baader GmbH & Co. KG; Barry-Wehmiller Companies, Inc.; Brown International Corp.; Bühler Group; DSI Dantech A/S; Duravant LLC; Elettric 80 S.p.a. Italia; Ferrum; Fortifi Food Processing Solutions; FPS Process Foods Solutions; GEA Group AG; Heinen Freezing GmbH & Co. KG; Jarvis Products Corporation; Krones; METALQUIMIA, S.A.; Mettler-Toledo International, Inc.; Meyn Food Processing Technology B.V.; Middleby Corporation; Morris & Associates, Inc.; MYCOM; Nantong Freezing Equipment Company, Ltd.; Poly-clip system GmbH & Co. KG; ProMach Inc; Provisur Technologies, Inc.; Shibuya Corporation; Square Technology Group Co., Ltd; Starfrost; Statco Engineering; Steriflow SAS.; Tecnopool S.p.A; and Tetra Laval.

We compete by leveraging our industry expertise to provide differentiated and proprietary technology, integrated systems, high product quality and reliability, and comprehensive aftermarket services for our installed base of equipment. Furthermore, this installed base also provides us with strong, long-term customer relationships from which we derive information for new product development to meet the evolving needs of our customers. We strive to provide our customers with equipment that delivers a lower total cost of ownership, distinguishing ourselves by providing reliable uptime, labor reduction through automation, increased yields, and improved product quality, while helping customers achieve ambitious environmental goals of lowering energy and water usage, reducing food waste, and enhancing food safety. Our ability to provide comprehensive sales and service in all major regions of the world, by maintaining local personnel in region, differentiates us from regional competition.

Geographic Information

We operate more than 50 manufacturing and distribution facilities, strategically positioned around the world to serve our existing equipment base. See Item 1A. Risk Factors for a discussion of risks associated with our global operations.

Customers

No single customer accounted for more than 10% of our total revenue in any of the last three fiscal years.

Patents, Trademarks and Other Intellectual Property

We seek to protect and enhance our proprietary intellectual property rights through patent, copyright, trademark, and trade secret laws, as well as through technological safeguards and operating policies and procedures designed and implemented by our intellectual property team. We own a number of United States and foreign patents, trademarks, and licenses that are cumulatively important to our business. We own approximately 2,880 United States and foreign issued patents and have approximately 781 patent applications pending in the United States and abroad. Further, we license certain intellectual property rights to or from third parties. We also own numerous United States and foreign trademarks and trade names and have approximately 1,172 registrations and pending applications in the United States and abroad. Developing and maintaining a strong intellectual property portfolio is an important component of our strategy to extend our technology leadership. However, we do not believe that the loss of any one or group of related patents, trademarks, or licenses would have a material adverse effect on our overall business.

Sources and Availability of Raw Materials

We purchase carbon steel, stainless steel, aluminum, and/or steel castings, forgings and sheet metal both domestically and internationally. We do not use single source suppliers for the majority of our raw material purchases and believe the available supplies of raw materials are adequate to meet our needs. By working closely with our supply base, primarily through supply chain and strategic sourcing initiatives that include supply base consolidation, “make” versus “buy” decisions, value engineering and component standardization, and best cost country sourcing, we have improved lead times and stabilized raw material costs.

Working Capital Practices

In order to provide, and install, custom designed equipment, companies in the food machinery industry generally generate customer deposits, or advance payments, before construction begins. For this reason, our business can be less working capital intensive than many other industrial capital goods industries.

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Human Capital Management

As of December 31, 2025, we employed approximately 11,500 people worldwide, with approximately 27% located in the United States. None of our employees in the United States are represented by collective bargaining agreements. Outside the United States, we maintain employment agreements where required or customary, consistent with local laws and practices. Approximately 75% of our international workforce is covered by employee representation bodies, including works councils and other formal structures. We have historically maintained constructive relationships with employees and have completed recent negotiations without work stoppages; however, future outcomes cannot be assured.

Culture and Values. Our employees are essential to delivering on our purpose to Transform the Future of Food, and our culture is grounded in four core values: Create with Collaboration, Serve with Integrity, Grow with Excellence, and Advance with Innovation. These values shape how we work together and support our long-term competitiveness. They also reflect input from employees across both legacy companies and are foundational to building a unified, inclusive culture.

Inclusion and Belonging. We are committed to fostering a workplace where employees feel included, valued, and connected. Following the combination of JBT and Marel, we are bringing together employees across functions and geographies to ensure inclusion and belonging are embedded in how we work globally. In addition, our Employee Network Communities (ENCs), including the Women’s Inclusion Network (WIN), Black Employees Supporting Talent (BEST), and a Global Veteran’s Network, provide forums for community-building, shared experiences, and professional development.

Additional employee groups are established based on employee interest. We regularly gather employee feedback through surveys and other listening channels, and we use this information to develop targeted action plans that strengthen engagement across segments, functions and regions.

Employee Safety and Well-Being. The safety and well-being of our employees, contractors, and visitors remains a top priority. We have implemented a global Health, Safety, and Environment (HSE) policy and a unified HSE management system designed to ensure consistent standards across our operations. Our safety practices emphasize proactive hazard reporting, near-miss identification, and behavior-based safety observations to prevent injuries before they occur.

Continuous improvement in accident prevention is achieved through the global near miss and behavior-based safety program. Our safety performance, including Total Recordable Incident Rate (TRIR) and Lost Time Incident Rate (LTIR), remained significantly below relevant industry averages. Safety performance is reviewed with the Board of Directors at every regular meeting.

Talent, Learning, and Development. We invest in talent to support employee growth and our long-term strategy. Our performance management approach emphasizes both what employees achieve and how they achieve results, reflecting our values. We are integrating the development programs and digital learning platforms from both legacy companies to build a comprehensive JBT Marel learning portfolio. Employees have access to a range of development opportunities, including safety training, technical skills, leadership development, professional development, and courses delivered through our digital learning systems.

Our structured annual talent development review process, including succession planning, assessments, leadership frameworks, and programs that support career advancement, helps ensure a strong pipeline of future leaders across the company.

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Total Rewards. We provide competitive and comprehensive total rewards programs to retain and attract talent globally. These offerings include competitive base pay, incentive opportunities, health coverage for employees and dependents, retirement contributions, paid time off, tuition reimbursement, parental leave, and a variety of well-being programs such as mental health resources, employee assistance programs, and fitness reimbursements.

Human Rights and Ethical Conduct. We are committed to respecting human rights across our operations. Our Human Rights Policy is aligned with the UN Universal Declaration of Human Rights, the UN Guiding Principles on Business and Human Rights, and the International Labour Organization conventions, including those related to freedom of association and collective bargaining. Employees complete training on the JBT Marel Guide to Ethical Conduct, which sets expectations for responsible behavior and provides confidential channels to report concerns without fear of retaliation.

Community Support. Through corporate giving, volunteerism, and employee-driven initiatives, we support communities where we operate. Our giving programs are aligned with the UN Sustainable Development Goals and include matching gift programs and local initiatives focused on food security, education, and community well-being.

For details on risks related to management retention and attraction, see “Part 1. Item 1A. Risk Factors.” Our leadership’s dedication ensures our ongoing growth and reinforces our inclusive competitive edge.

Governmental Regulation and Environmental Matters

Our operations are subject to various federal, state, local, and foreign laws and regulations governing the prevention of pollution and the protection of environmental quality. If we fail to comply with these environmental laws and regulations, administrative, civil, and criminal penalties may be imposed, and we may become subject to regulatory enforcement actions in the form of injunctions and cease and desist orders. We may also be subject to civil claims arising out of an accident or other event causing environmental pollution. These laws and regulations may expose us to liability for the conduct of, or conditions caused by, others or for our own acts even though these actions were in compliance with all applicable laws at the time they were performed.

Under the Comprehensive Environmental Response, Compensation and Liability Act, referred to as CERCLA, and related state laws and regulations, joint and several liability can be imposed without regard to fault or the legality of the original conduct on certain classes of persons that contributed to the release of a hazardous substance into the environment. These persons include the owner and operator of a contaminated site where a hazardous substance release occurred and any company that transported, disposed of, or arranged for the transport or disposal of hazardous substances that have been released into the environment, including hazardous substances generated by any closed operations or facilities. In addition, neighboring landowners or other third parties may file claims for personal injury, property damage, and recovery of response cost. We may also be subject to the corrective action provisions of the Resource, Conservation and Recovery Act, or RCRA, and analogous state laws that require owners and operators of facilities that treat, store, or dispose of hazardous waste to clean up releases of hazardous waste constituents into the environment associated with their operations

Many of our facilities and operations are also governed by laws and regulations relating to worker health and workplace safety, including the Federal Occupational Safety and Health Act, or OSHA. We believe that appropriate precautions are taken to protect our employees and others from harmful exposure to potentially hazardous work environments, and that we operate in substantial compliance with all OSHA and similar regulations.

We are also subject to laws and regulations related to conflict minerals, forced labor, export compliance, anti-corruption, and immigration and we have adopted policies, procedures and employee training programs that are designed to facilitate compliance with those laws and regulations.

Available Information

All periodic and current reports, registration statements, and other filings that we are required to make with the Securities and Exchange Commission (the “SEC”), including annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, proxy statements and other information are available free of charge through our website as soon as reasonably practicable after we file them with, or furnish them to, the SEC. You may access and read our SEC filings free of charge through our website at ir.jbtmarel.com, under “SEC Filings,” or the SEC’s website at www.sec.gov.

Investors and others should note that we may announce material information to our investors using our investor relations website (ir.jbtmarel.com), SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media, to communicate with our investors and the public about our Company, our business and other issues. It is possible that the information that we post on these channels could be deemed to be material information. We therefore encourage investors to visit these websites from time to time.

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The information contained on or connected to our website, ir.jbtmarel.com, is not incorporated by reference into this Annual Report on Form 10-K or any other report we file with the SEC.

INFORMATION ABOUT OUR EXECUTIVE OFFICERS

The executive officers of JBT Marel Corporation, together with the offices currently held by them, their business experience and their ages as of February 23, 2026, are as follows:

BRIAN A. DECK has been our Chief Executive Officer since December 2020 and served as President of JBT from December 2020 to January 2025. He was previously our interim Chief Executive Officer from June 2020 to December 2020. Mr. Deck served as our Vice President and Chief Financial Officer from February 2014 until December 2020.

MATTHEW J. MEISTER became our Chief Financial Officer in December 2020 after serving as the interim Chief Financial Officer since October 2020. Mr. Meister joined JBT in May 2019 as Vice President and CFO for JBT Protein, with responsibility for all accounting and finance activity for the Protein Division within the FoodTech segment.

ARNI SIGURDSSON was appointed as President of JBT Marel upon the closing of the Marel Transaction in January 2025. Prior to that, Mr. Sigurdsson served as Chief Executive Officer of Marel from December 2023, after leading Marel as Interim Chief Executive Officer from November of the same year. He took over the role of Chief Business Officer and Deputy Chief Executive Officer of Marel in November 2022, where he was responsible for Marel’s business divisions, in addition to the overall business growth and the strategic direction of Marel. Mr. Sigurdsson joined Marel in 2014 as Head of Strategy, before transitioning to the role of Chief Strategy Officer and Executive Vice President of Strategic Business Units from 2020 to 2022.

SHELLEY BRIDAROLLI became our Executive Vice President, Chief Human Resources Officer in September 2021. Prior to that, Ms. Bridarolli was the Senior Vice President Human Resources of Dana Incorporated from November 2018 until April 2021.

JAMES C. PELLETIER became our Executive Vice President, General Counsel and Secretary in June 2025. Previously, Mr. Pelletier served as General Counsel and Chief Compliance Officer of Kymera International, an advanced specialty materials manufacturer, from 2024 to 2025. He served as Senior Vice President, General Counsel and Corporate Secretary of Masonite International Corporation, a provider of interior and exterior doors and door systems, from 2022 to 2024, and as Senior Vice President, General Counsel and Secretary of Barnes Group Inc., a provider of highly engineered products and differentiated industrial technologies, from 2020 to 2022.

LUIZ “AUGUSTO” RIZZOLO became the Executive Vice President, Regions and Integration in January 2025 after serving as the Executive Vice President and President, Diversified Food and Health from October 2022 to January 2025. Previously, Mr. Rizzolo served as a President, Protein North America from 2020 through 2024.

ROGER CLAESSENS became our Executive Vice President, Poultry in January 2025, following the close of the Marel Transaction. He had previously served as the Executive Vice President Poultry at Marel since September 2019.

ROBERT PETRIE was appointed as our Executive Vice President and President, Protein in September 2021. Mr. Petrie previously led JBT’s Protein EMEA (Europe, Middle East, and Africa) business, with additional responsibility for JBT’s Protein business in Asia, from April 2019 to September 2021.

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MARY BETH SIDDONS became our Executive Vice President and President of Diversified Food & Health in January 2025, following the close of the Marel Transaction. Previously, Ms. Siddons served as President of JBT Diversified Food & Health North America from January 2024 to January 2025 and President of JBT Processing Group from October 2022 to January 2024. Prior to joining JBT, Ms. Siddons was President of the Industrial Solutions Division at Spectris plc, a supplier of precision instrumentation and controls, from February 2021 to October 2022 and Sector President of Retail Solutions at Marmon Holdings from 2017 to 2019.