Marel hf. - Notice to convene extr.general meeting

MAREL HF - ANNUAL GENERAL MEETING 29 FEBRUARY 2012

INFORMATION ON DIVIDEND PROPOSAL

As stipulated in the proposals of Marel‘s Board of Directors to the 2012 Annual
General Meeting (AGM), it is proposed that the Company pay a dividend to its
shareholders of 0.95 euro cents per share for the operational year 2011,
corresponding to about 20% of Company profits for the year. 

The proposed total dividend payment will amount to approximately EUR 6.9
million. 

The dividend proposal is in line with Marel's targeted capital allocation and
dividend policy introduced at the 2011 Annual General Meeting. 

The right to a dividend is constricted to the day of the AGM, end of day. Thus,
ex-date is 1 March, 2012. 

The Company would like to draw special attention to the fact that, should the
proposal be agreed upon by the shareholders, the dividend will be paid out in
Icelandic Krona (ISK). However, shareholders who prefer to receive the dividend
payment in Euros (EUR) instead shall notify the Company of their preference by
email to dividends@marel.com, no later than 7 March 2012. The notification
shall also contain information on the relevant EUR account (including IBAN
number, SWIFT code and the address of account holder), to ensure that the
dividend payment can be made without difficulties. The account shall be
registered to the respective shareholder. 

With respect to non-Icelandic shareholders, the Company assumes that they will
automatically opt for dividend payment in EUR, unless notified otherwise. 

The mid-rate of the central exchange rate of the Central Bank of Iceland, fixed
at 11:00 on the date of the AGM (29 February 2012), shall be used to calculate
the dividend payment (http://www.sedlabanki.is/?PageID=183). 

Payment of dividends is proposed to occur on 14 March 2012, i.e. two weeks
after the AGM. 

All inquiries regarding the aforementioned items and other matters pertaining
to the proposed dividend payments shall be sent to the Company via email to
dividends@marel.com.