Manitowoc Foodservice to Begin Trading as Welbilt (NYSE:WBT) Today

Will ring the Opening Bell® at the New York Stock Exchange on March 10th to celebrate the name change

Manitowoc Foodservice, Inc. announced today that it has completed its previously-announced name change to Welbilt, Inc. and will begin trading today on the New York Stock Exchange with the new ticker WBT. Current shareholders will have their existing shares converted from MFS shares to WBT shares automatically. To celebrate its name change and new ticker, Welbilt will ring the Opening Bell® at the New York Stock Exchange on Friday, March 10th.

“Today’s name change to Welbilt completes the strategic repositioning of our company following its spin-off from The Manitowoc Company a year ago,” said Hubertus M. Muehlhaeuser, President and CEO of Welbilt. “The Welbilt name has been enthusiastically received by our customers and employees since it was announced last month. We can now move forward to achieve our vision of being the leader in professional foodservice equipment and systems by being relentlessly reliable, pragmatically innovative, and intelligently connected.”

About Welbilt, Inc.

Welbilt, Inc. provides the world’s top chefs, premier chain operators and growing independents with industry-leading equipment and solutions. Our innovative products and solutions are powered by our deep knowledge, operator insights, and culinary expertise. We offer fully-integrated kitchen systems and our products are backed by KitchenCare® aftermarket parts and service. Headquartered in the Tampa Bay area, Florida, and operating 17 manufacturing facilities throughout the Americas, Europe and Asia, the company sells through a global network of over 3,000 distributors and dealers in over 100 countries. The company has approximately 5,500 employees and generated sales of $1.46 billion in 2016. Its portfolio of award-winning brands includes Cleveland™, Convotherm®, Delfield®, fitkitchenSM, Frymaster®, Garland®, Kolpak®, Lincoln™, Manitowoc® Ice, Merco®, Merrychef® and Multiplex®. For more information, visit www.welbilt.com.

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Welbilt, Inc.Rich Sheffer, 727-853-3079Vice President of Investor Relations and [e-mail]