JBT Investor Presentation

May 2020

2

Forward-Looking Statements

These slides and the accompanying presentation contain “forward-looking” statements, including statements about management’s expectations regarding trends in the food and air transportation markets, strategic initiatives, acquisition strategies and long-term goals, which represent management’s best judgment as of the date hereof, based on currently available information. Actual results may differ materially from those contained in such forward-looking statements.

JBT Corporation’s (the “Company”) most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, filed with the Securities and Exchange Commission, include information concerning risks and uncertainties, including the factors set forth under “Item 1A. Risk Factors”, that may cause actual results to differ from those anticipated by these forward-looking statements. The Company undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties.

3

JBT Snapshot

1 As of May 1, 2020² Non-GAAP figure. See Appendix for reconciliation tp segment operating profit.

Founded 1884

Listed JBT (NYSE)

Market Cap $2.3 billion1

Employees 6,400

Countries 25+

JBT at a Glance – figures for FY2019

Revenue Adjusted EBITDA²

Leading Global Technology Solutions Provider to High-Value Segments of the

Food & Beverage Industry

32%

68%

25%

75%

AeroTech FoodTech

4

One JBT: A Sustainable Growth Culture

ONE Purpose and Set of Values Across the Entire Organization

5

Durable Shareholder Value Creation

Returns

“Value creation is a virtuous circle, starting with margin expansion initiatives generating results that are reinvested to drive organic growth, creating customer value and returns that support further growth – and the cycle continues…”

6

Farm/Ranch

FoodTech is a Leading Technology Solutions Provider toHigh-Value Segments of the Food Industry

Global Food and Beverage Producers Distribution

Restaurants

Grocery / C-Store

Food Service

Commissary

Value Chain

Delivering innovative solutions we believe offer best-in-class yield and productivity, with a goal of maximizing customer profitability

Clear Value Proposition for JBT Customers

▪ Food Safety

▪ Yield

▪ Automation

▪ Reduced Operating Costs

▪ Uptime

▪ Full-Line Solutions

▪ Global Service and Support

Consumer

7

Cargo Loader

21

LEKTRO Tractor

Deicer

43

Military Loader

Passenger Boarding Bridge

7 8

Military A/C Unit

9

Ground Power Unit A/C Unit

10

Providing End-to-End Solutions Across the Airport Infrastructure Spectrum

Ground Support Equipment

Airport Services

Key AeroTech Products & Services

Jetway SystemsTow Bar Tractor

5 6

Passenger Steps

Baggage HandlingTechnology

12

Critical SystemsFacilities Support

11

Ground Support Equipment ensures the efficient, safe, and reliable turnaround of aircraft on the ground through aircraft, passenger, and cargo handling operationsJetway Systems enhances the customer boarding experience across a range of aircraft types, from regional aircraft up to the largest wide-body aircraft in the worldAirport Services provides technical expertise and maintenance services to a range of sophisticated baggage handling systems, boarding bridges, and airport facilitiesMilitary aviation equipment increases combat readiness through minimizing aircraft downtime and providing field-ready power & cooling systems to an array of tactical aircraft

9

1

2

3

4

57

8

1011

12

6

AeroTech is the Most Comprehensive Platform Serving the Global Airport Infrastructure Market

8

Growing Recurring Revenue

40%+ of JBT Revenue is Recurring

▪ Growing our sales / service network and capabilities– Investing in Field Service technicians globally

support equipment and leases– Cross-training for increased regional support

and utilization– Increasingly bundling ProCARE contracts with

equipment sales– Developing more parts kits vs. single-part sales– Generating new opportunities through increased

focus on outbound aftermarket sales▪ Many customers looking to “outsource” more

engineering and maintenance activities due to high turnover and lower skill levels

▪ JBT provides “PRoCARE powered by iOPS”, which supports our customers with dedicated project management, data analytics, weekly production reports, “behind the scenes” data monitoring, and cloud-based data collection / aggregation

Key growth drivers:

9

JBT is Positioned to Benefit From Positive Drivers and Trends

SOURCE: 1 https://www.ota.com/news/press-releases/19031; 2 http://www.reuters.com/middle-class-infographic

Positive Macro Drivers Accelerating Trends

Increasing Customer Adoption of Automation and Information Technology

Shrinking labor availability with rising wages / costs

Adoption rates of IOT solutions

Improve yield, throughput and quality

Consumer Focus on Health, Safety & Convenience

▪ Increasingly selective consumers seeking ‘on-demand’ food

Protein & Value-Added Food & Beverage Consumption

▪ Food industry pivoting to value-added foods

Emergence of Clean Labels & Organic Foods

▪ 10%+ annual growth2

Consolidating Food Industry

▪ Industry requires globally capable suppliers

Growing Middle Class

▪ 2x growth by 20301; Asia is a significant contributor

Automation and Information

10

The Changing Environment Creates Opportunities for JBT

Well-positioned to drive growth in economic recovery

• Solutions providing lower labor utilization and increased safety; coupled with higher output and yield, including, for example:

- Robotic harvesting- Automated loading and unloading of JBT equipment- Clean in Place (CIP) food equipment technologies- Waterjet protein trimming and portioning systems

• Automation with robotic vehicles to provide safe, precise, on-time delivery of materials in manufacturing and warehousing environments.

• iOps remote monitoring of critical processes in food production and air transportation activities – measuring and documenting data to turn preventative or reactive maintenance into predictive maintenance driving a lower overall cost of ownership.

• Growing demand for longer shelf life and clean labels driving preservation technologies like High Pressure Processing (HPP) to ensure the highest quality in taste, nutrition, and safety

• Flexible solutions – providing upgrades to automation of a single food process, or an entire food processing line, to meet customers where they are in their planning during the pandemic

11

FoodTech has completed 14 acquisitions since 2014 for ~$1 billion to expand its offerings and technology.AeroTech has completed 2 acquisitions since 2017 for ~$60 million adding to military and electric product offerings.

Continued Growth Opportunities through Acquisitions

Liquid Foods

$8B+

Market Leader Room to Grow Capability Gap

Protein

Primary Portioning InspectionMixing/ Grinding/ Blending

Injecting/ Marination

Filling / Forming

Weighing/ Packaging

Coating/ Frying Cooking Freezing Slicing Packaging Preservation Inspection

Raw Material Handling

Extraction/Refining

Beverage Handling

Pasteurizing/ Evaporation/

Bulk FillingStorage Thawing Ingredient &

H2O PrepMixing/

Metering Blending SterilizationCIP/Controls & Instruments

Filling Packaging Preservation

$18B+

Primary Secondary Further EOL

12

JBT Operating System

What we are doing…

• Building on JBT’s strong RCI foundation and culture

• Creating process rigor in how we run our business

• Creating a JBT standard across all business units that is consistent and transcends any single individual, thereby enabling more fungibility of our resources across businesses

• Standardizing what we report, how we report, and how we solve problems

Desired results…

• Drive visibility, accountability, and alignment within each business

• Eliminate unnecessary or duplicative reports and meetings

• Minimize reporting and maximize problem solvingrelated to business execution

13

Strong Balance Sheet with a Focus on Deleveraging

Balance Sheet

Capital Deployment Priorities

▪ Investing in high ROI new product development and growth initiatives ▪ Debt reduction▪ Quarterly dividends▪ Strategic acquisitions▪ Share repurchases to offset dilution from management stock-based compensation

1 See Appendix for calculations. 2 Financial Liquidity is defined as cash plus borrowing capacity under our credit facilities.

March 31, 2020, $ millionsGross Debt 734

Less: Cash on Hand (75)

Net Debt 659

Key Metrics – as of March 31, 2020

Net Debt / Adjusted EBITDA1 2.2x

Financial Liquidity2 $328M

14

JBT – update concerning COVID-19We are actively utilizing the JBT management framework to minimize the disruption from COVID-19 and have undertaken the following actions in response to the outbreak:

• Established a dedicated, cross-functional senior leadership Response Team that meets weekly or more quickly to make decisions, adjust operational responses, and communicate across stakeholders accordingly.

• Regular, weekly communications with employees, with specific and consistent guidance sourced from leading global and local health authorities.

• Maintaining close contact with customers to react quickly to potential changing needs and to appropriately plan inventories and production levels.

• Communicating with suppliers and developing plans to mitigate short- and medium-term disruption of our supply chain.

• Continuing our key strategic initiatives to assure the long-term health of JBT.

The long-term fundamentals behind JBT Corporation’s business have not changed and continue to support a compelling investment thesis.

JBT has positioned itself to be in front of the fastest growing trends in the food industry….clean-labels, convenience foods, labor-saving automation, environmentally conscious

solutions…to continue to be a leading provider in the food production value chain.

JBT Investor Presentation –Appendix

Non-GAAP financial measures are provided to enhance investors’ overall understanding of our financial performance by eliminating effects of certain items that are not comparable from one period to the next. In addition, this information is used by management as a basis for evaluating performance and for the planning and forecasting of future periods. This information is not intended to be a substitute for, nor should it be considered in isolation of, financial measures prepared in accordance with U.S. GAAP.

16

Reconciliation of Segment Operating Profit to Adjusted EBITDA

(in millions) FoodTech AeroTech

Operating Profit 184.7$ 78.9$

M&A related costs¹ 13.9 0.9

Adjusted Operating Profit 198.6 79.8

Depreciation and amortization 58.2 4.7

Adjusted EBITDA 256.8$ 84.5$

¹ includes integration costs, amortization of inventory step-up, and transaction costs

For the year ended December 31, 2019

17

Leverage Ratio Calculations

($ in millions)As of

March 31, 2020

Total debt 733.9$ Cash and cash equivalents (75.4) Net debt 658.5

Other items considered debt under the credit agreement 32.3 Consolidated total indebtedness 690.8$

Trailing twelve months (TTM) Adjusted EBITDA 306.4$

Other adjustments to EBITDA under the credit agreement (20.3) Consolidated adjusted EBITDA 286.1$

Net debt to adjusted EBITDA (Net debt / TTM Adjusted EBITDA) 2.2 Bank leverage ratio (Consolidated total indebtedness / Consolidated EBITDA) 2.4