In the February 5, 2025, court hearing, the Madras High Court decided to maintain the status quo, permitting TAFE's interim use of the Massey Ferguson brand in India until the issue of ownership of the brand in India is finally decided. While we respect this ruling, it is a temporary measure and not based on the evidence that AGCO is yet to submit. AGCO will continue to defend its 177-year-old Massey Ferguson brand worldwide, including in India. We are in the process of considering the terms of the Order and will take the appropriate legal measures to dispute the Order including by way of appeal. As proud owners, we are committed to preserving the Massey Ferguson legacy and safeguarding intellectual property. Protecting trademarks and copyrights is essential for fostering innovation, attracting investment into India and setting industry standards globally.

India’s agricultural future is key to AGCO’s mission, and we are dedicated to providing farmers with straightforward, dependable and high-quality equipment to drive their productivity. In line with our Farmer-First strategy, Massey Ferguson will always prioritize Indian farmers.

We maintain that TAFE's conflicting claims – asserting both licensee and ownership rights over the Massey Ferguson trademarks – are mutually contradictory, as they cannot hold both positions simultaneously. For more than 50 years, TAFE has signed multiple agreements with AGCO and Massey Ferguson with TAFE recognizing itself as a trademark licensee of the Massey Ferguson brand in India. It is important to note that AGCO has received multiple favorable rulings to date, successfully defending against TAFE's claims on jurisdiction, contempt of court, supply arrangements, and brand ownership, including at the Supreme Court level.

As announced on September 30, 2024, AGCO issued termination notices to TAFE for the Massey Ferguson brand license agreement, effective immediately. 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.