In 2022, TOMRA launched a new set of financial ambitions for the coming five
-year period. This includes an average annual growth rate of 15% and achieving
an EBITA margin of 18% by 2027.

TOMRA Food's ambition is to contribute to the Group's targets with high single
-digit growth at double-digit EBITA margin. Growth prospects for automated food
grading and sorting remain attractive in the medium and long term. However, both
growth and profitability have been below target in 2023 as customers have been
faced with a combination of challenges including difficult macroeconomic
conditions and lost or damaged harvests, especially within the Fresh Food
segment.

TOMRA Food's strategic priority over the next year will be to increase
profitability and customer satisfaction. To achieve this, TOMRA Food has today
decided to initiate a cost reduction program of EUR 30 million (ca. NOK 350
million) in annual savings by taking advantage of unrealized synergies. The
program is expected to incur one-off costs of around EUR 20 million. Full cost
saving benefits are expected by the end of 2024.

"TOMRA Food is a leader in the growing market for automated food sorting and
grading equipment. We are a strong and experienced global team with deep
expertise within both fresh and processed food. The division is a result from
four acquisitions over the past 12 years, and we still see room for closer
integration and synergy realization between these. By refocusing the
organization, we will be able to grow profitability while also increasing
customer satisfaction," says Harald Henriksen who was appointed EVP of TOMRA
Food in June this year.

Further details on TOMRA Food's improvement agenda will be presented in
connection with TOMRA's third quarter result presentation on Friday, 20 October
2023. The presentation will be sent via live webcast. A recorded version of the
webcast will be available shortly after the webcast has concluded.

Link to the webcast:
https://channel.royalcast.com/landingpage/hegnarmedia/20231020_1/

Asker, 12 October 2023

TOMRA Systems ASA

Contact information:

Daniel Sundahl, Head of Investor Relations
Tel: +47 913 61 899

About TOMRA Food

TOMRA Food designs and manufactures sensor-based sorting machines and integrated
post-harvest solutions transforming global food production to maximize food
safety and minimize food loss, by making sure Every Resource Counts[TM].

The company has more than 13,800 units installed at food growers, packers and
processors around the world. These solutions include advanced grading, sorting,
peeling and analytical technology to help businesses improve returns, gain
operational efficiencies, and ensure a safe food supply.

TOMRA Food operates centers of excellence, regional offices and manufacturing
locations within the United States, Europe, South America, Asia, Africa and
Australasia.

For further information about TOMRA, visit www.tomra.com.

***

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (EU) No 596/2014 and is subject to the disclosure
requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.