Appeal Overturns October 17 Indian Court Injunction

India – November 19, 2024 – AGCO (NYSE: AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, today announced that on November 18, 2024, the Madras High Court overturned an interim injunction in the trademark dispute with Tractors and Farm Equipment Limited (TAFE), who had previously been granted a license to use its trademarks in India, holding that the injunction was unjustified and confirming that AGCO is the registered proprietor and owner of the Massey Ferguson trademarks in India.

This latest successful court decision for AGCO follows a series of multiple favorable rulings for AGCO, where TAFE’s claims on jurisdiction, contempt of court, supply arrangements and brand ownership have all been dismissed by the Courts, including at the Supreme Court level.

AGCO remains steadfast in its proud ownership of the 177-year-old Massey Ferguson brand and trademarks globally, including India, and will continue to vigorously defend its position. India is critical for the future of agriculture, and AGCO is committed to Indian farmers who deserve straightforward, dependable and high-quality equipment to help them grow profitably and advance farming best practices. In line with AGCO’s Farmer-First strategy, AGCO and Massey Ferguson will always put India farmers first.

As announced on September 30, 2024, AGCO issued termination notices to TAFE for the Massey Ferguson brand license agreement. These terminations followed inappropriate and unauthorized actions taken by TAFE that AGCO believes breached the various agreements. Simultaneously, AGCO commenced legal proceedings against TAFE in India related to the use of the Massey Ferguson brand following delivery of these termination notices, which proceedings are ongoing before Indian courts.

About AGCO

AGCO (NYSE: AGCO) is a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology. AGCO delivers value to farmers and OEM customers through its differentiated brand portfolio including core brands like Fendt®, GSI®, Massey Ferguson®, PTx and Valtra®. AGCO's full line of equipment, smart farming solutions and services helps farmers sustainably feed our world. Founded in 1990 and headquartered in Duluth, Georgia, USA, AGCO had net sales of approximately $14.4 billion in 2023. For more information, visit www.agcocorp.com. For company news, information, and events, please follow us on X: @AGCOCorp. For financial news on X, please follow the hashtag #AGCOIR.

Safe Harbor Statement
Statements that are not historical facts, including statements regarding the amended Schedule 13D filing by TAFE, the joint venture with Trimble and any anticipated benefits resulting from that transaction, the recently announced sale of our Grain and Protein business and any anticipated benefits from that transaction, our previously announced restructuring and our efforts to control expenses, industry demand, market conditions, our ongoing strategy, investments in product and technology development, new product introductions, restructuring and other cost reduction initiatives and general economic conditions, are forward-looking and subject to risks that could cause actual results to differ materially from those suggested by the statements. The factors that could cause actual results to differ materially from the results discussed in or implied by the forward-looking statements are included in AGCO's filings with the Securities and Exchange Commission, including its Form 10-K for the year ended December 31, 2023, and subsequent Form 10-Qs. AGCO disclaims any obligation to update any forward-looking statements except as required by law.