Slide 1: Q3 2025 Earnings Presentation
Q3 2025 Earnings Presentation November 3, 2025
Slide 2: Non-GAAP and Forward-Looking Statements
NON-GAAP AND FORWARD-LOOKING STATEMENTS Non-GAAP Measures and Reconciliations to GAAP Measures Adjusted EBITDA, Adjusted EBITDA margin, Adjusted income from continuing operations, Adjusted diluted earnings per share from continuing operations (“Adjusted EPS”), and free cash flow are non-GAAP financi
Slide 3: JBT Marel Delivered Solid Third Quarter 2025 Results
JBT MAREL DELIVERED SOLID THIRD QUARTER 2025 RESULTS Q3 2025 Consolidated Results Key Takeaways Q3 2025 Q3 2024 ▪ Delivered solid quarterly performance with revenue and adjusted Results from Continuing Operations EBITDA margin exceeding expectations ($ millions except EPS and margin) Orders $946 $44
Slide 4: Segment Results Summary
JBT MAREL SEGMENT RESULTS SUMMARY JBT Segment Results Marel Segment Results JBT Segment Revenue JBT Segment Adj. EBITDA Margin Marel Segment Revenue Marel Segment Adj. EBITDA Margin $465 18.0% $537 18.6% $455 $480 $409 14.9% 15.3% $445 15.5% 11.5% Q1 2025 Q2 2025 Q3 2025 Q1 2025 Q2 2025 Q3 2025 Q1 2
Slide 5: Healthy Quarterly Orders & Recurring Revenue
HEALTHY QUARTERLY ORDERS & RECURRING REVENUE Consolidated Orders and Revenue Analysis Q3 2025 Consolidated Revenue Breakdown $ millions Q3 2025 Recurring Non-Recurring EMEA U.S. & Canada Latin America Asia Pacific Orders $946 10% Revenue $1,001 11% 41% 49% 51% 38% Key Highlights ▪ Quarterly orders o
Slide 6: Capital Structure as of September 30, 2025
JBT MAREL CAPITAL STRUCTURE AS OF SEPTEMBER 30, 2025 Key Highlights Total Gross Debt Outstanding & Maturity Schedule ▪ Evaluated options to pre-fund 2026 convertible maturity; chose to Amount Issued / Effective Rate Maturity issue $575M of 0.375% convertible senior notes due 2030 given Drawn ($ mill
Slide 7: Implementing Actions to Mitigate Direct Cost Impact from Current Tariffs
IMPLEMENTING ACTIONS TO MITIGATE DIRECT COST IMPACT FROM CURRENT TARIFFS Annualized U.S. COGS Tariff Sensitivity Analysis Tariff Mitigation Actions JBTM U.S. Spend Expected JBTM Impact: Tariff Costs Country / Region ($ millions) Before Mitigation ($ millions) Short-Term Actions European Union (EU) ~
Slide 8: Raising Full Year 2025 Guidance
RAISING FULL YEAR 2025 GUIDANCE Full Year 2025 Guidance Additional Modeling Details $ millions except EPS and margin FY 2025 FY 2025 Actual: Guidance Q1 - Q3 2025 Revenue $3,760 – $3,790 Items included in GAAP EPS & Excluded in Adj. EPS ($ millions) Restructuring related costs ~$28 ~$24 Income from
Slide 9: Expecting to Achieve $150M in Cost Synergies by End of Year 3 Post-Transaction Close
EXPECTING TO ACHIEVE $150M IN COST SYNERGIES BY THE END OF YEAR 3 POST-TRANSACTION CLOSE Direct Materials ▪ Supplier consolidation Anticipated Cost Synergies ▪ Best cost country sourcing ▪ Value add / value engineering $150M Indirect Cost of Goods Sold: ▪ Logistics efficiencies ~$80M ▪ Spend reducti
Slide 10: Appendix
Appendix -- JBT Maret
Slide 11: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES The non-GAAP financial measures presented in this report may differ from similarly-titled measures used by other companies. The non-GAAP financial measures are not intended to be used as a substitute for, nor should they be considered in isolation of, financial measures p
Slide 12: Reconciliation of Income from Continuing Operations to Adjusted EBITDA
JBT MAREL RECONCILIATION OF INCOME FROM CONTINUING OPERATIONS TO ADJUSTED EBITDA 12
Slide 13: Reconciliation of Diluted EPS to Adjusted Diluted EPS
JBT MAREL RECONCILIATION OF DILUTED EARNINGS PER SHARE (EPS) TO ADJUSTED DILUTED EPS 13
Slide 14: Reconciliation of Cash Provided by Operating Activities to Free Cash Flow
JBT MAREL RECONCILIATION OF CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW 14
Slide 15: Leverage Ratio Calculations
JBT MAREL LEVERAGE RATIO CALCULATIONS 15
Slide 16: Recurring vs. Non-Recurring Revenue
JBT MAREL RECURRING VS. NON-RECURRING REVENUE As of September 30, 2025 QTD YTD Type of Good or Service (1) Recurring $ 488.4 $ 1,422.4 (1) Non-recurring 512.9 1,367.8 Total $ 1,001.3 $ 2,790.2 % of recurring 49% 51% (1) Aftermarket parts and services and revenue from lease and long-term service cont
Slide 17: Reconciliation of Diluted EPS from Continuing Operations to Adjusted Diluted EPS Guidance
JBT MAREL RECONCILIATION OF DILUTED EPS FROM CONTINUING OPERATIONS TO ADJUSTED DILUTED EPS GUIDANCE 17
Slide 18: Reconciliation of Income from Continuing Operations to Adjusted EBITDA Guidance
JBT MAREL RECONCILIATION OF INCOME FROM CONTINUING OPERATIONS TO ADJUSTED EBITDA GUIDANCE 18