Marmon Foodservice Technologies Emissions Near-term Targets Validated by the Science Based Targets Initiative

Marmon Foodservice Technologies, a global manufacturer of premium commercial food and beverage equipment, has received validation for its near-term greenhouse gas (GHG) emissions reduction targets by the Science Based Targets initiative (SBTi). The validation represents a significant milestone in the company's commitment to reduce both operational and value chain greenhouse gas emissions.

"Today more than ever, it is necessary to act on a global level to deal with the impacts of climate change. To that end, Marmon Foodservice Technologies is committed to becoming part of the solution through our products and processes," said Craig Heetland, Group President, Marmon Foodservice Technologies. "Our validated near-term science-based targets provide a defined pathway to reduce greenhouse gas emissions by 2033 and we are also committed to be net zero by 2050."

More specifically, Marmon Foodservice Technologies commits to reduce its absolute scope 1 and 2 GHG emissions by 54.6% by 2033 from a 2021 baseline year.* Marmon Foodservice Technologies further commits to reduce its absolute scope 3 GHG emissions from its purchased goods and services and use of sold products by 32.5% within the same timeframe. *The target boundary includes land-related emissions and removals from bioenergy feedstocks.

These science-based targets are in line with what the latest climate science deems necessary to meet the goal of the Paris Agreement of limiting global warming to 1.5^oC above pre-industrial levels and provide a clearly defined pathway to reduce GHG emissions in order to help prevent the climate change impacts while future-proofing our activities.

Marmon Foodservice Technologies is one of the 11 industry groups that make up Marmon Holdings, Inc., a Berkshire Hathaway company, and the first to have its near-term targets validated.

"Across Marmon's portfolio of companies, we are focused on operating sustainably to help meet the goals of our customers and enhance the communities in which we operate," said Martha Drouet-Rueden, Senior Counsel and Sustainability Officer for Marmon Holdings. "Marmon Foodservice Technologies is paving the way for additional Marmon businesses to follow in their footsteps and strengthen our collective sustainability commitments."

About the Science Based Targets initiative

The Science Based Targets initiative (SBTi) is a corporate climate action organization that enables companies and financial institutions worldwide to play their part in combating the climate crisis. The SBTi develops standards, tools and guidance which allow companies to set greenhouse gas (GHG) emissions reductions targets in line with what is needed to keep global heating below catastrophic levels and reach net-zero by 2050 at latest. The SBTi is incorporated as a charity, with a subsidiary which will host our target validation services. Its partners are CDP, the United Nations Global Compact, the We Mean Business Coalition, the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF).

About Marmon Foodservice Technologies

Marmon Foodservice Technologies is an industry-leading global manufacturer of premium commercial food and beverage equipment and supplies. With a longstanding, successful history in foodservice as well as worldwide product reach, Marmon Foodservice Technologies has built trusted partnerships with top brands, distributor partners, and business owners. From innovative and leading food and beverage equipment to full life-cycle service solutions, the company's portfolio of brands has a combined history of over 300 years in the foodservice industry. Visit marmonfoodservice.com to learn more.

About Marmon Holdings, Inc.

Marmon Holdings, Inc., a Berkshire Hathaway company, is a global industrial organization comprising 11 industry groups, 30,000 team members, and more than 120 autonomous businesses with a total annual revenue of $12 billion. With a more than 70-year history and 650 locations creating innovative solutions to the world's greatest needs, Marmon is built to win. Learn more about Marmon at marmon.com.