13D Filing: Atlantic Investment Management and Diebold Nixdorf Inc (DBD)

The Reporting Person and their representatives have, from time to time, engaged in, and expect to continue
to engage in, discussions with members of management and the board of directors of the Issuer (the “Board”), other
current or prospective shareholders, industry analysts, existing or potential strategic partners or competitors, investment and
financing professionals and other third parties regarding a variety of matters related to the Issuer, which may include, among
other things, the Issuer’s business, management, capital structure and allocation, corporate governance, Board composition
and strategic alternatives and direction, and may take other steps seeking to bring about changes to increase shareholder value.

Except as set forth above, the Reporting Person has no present plans or proposals which relate to or would
result in any of the transactions required to be described in Item 4 of Schedule 13D.

Item 5.          Interest in Securities
of the Issuer.

(a)       Based upon the information contained in the Issuer’s Form 10-Q filed with the Securities and Exchange
Commission on May 4, 2017, there were issued and outstanding 75,476,898 Shares as of April 27, 2017.

(b)       The Reporting Person does not directly own any Shares. The Reporting Person has entered into an investment
advisory agreement with each of AJR, Cambrian Fund, Cambrian Global Fund and the Other Accounts pursuant to which the Reporting
Person has investment authority with respect to the securities held by such entities or in such accounts. Such power includes the
power to dispose of and the power to vote the Shares. By reason of the provisions of Rule 13d-3 of the Securities Exchange Act
of 1934, as amended, the Reporting Person is deemed to be the beneficial owner of the Shares held by such entities and accounts.
Accordingly, the Reporting Person is deemed the beneficial owner of 6,000,000 Shares, or 7.9% of the outstanding Shares.

(c)       The following table details the transactions by the Reporting Person, on behalf of AJR, Cambrian Fund, Cambrian
Global Fund, and the Other Accounts in Shares during the past sixty (60) days: