I can confirm this. This problem has been introduced since we updated from v3.5 to v3.8.1 of the TwelveMonkey's ImageIO library. I've commented on an open case here
describing this problem.
The workaround for now is to switch off "Include EXIF metadata in generated images" or to grab the older v3.5 jar files for TwelveMonkey's ImageIO lib from v28.1 for instance and use those instead.
Let's hope for a quick solution for this issue from the developer of this generally great library.