Barington Capital Calls on Matthews International Shareholders to Elect Ana Amicarella, Chan Galbato and James Mitarotonda to the Matthews Board to Help Restore Good Governance and Drive Value Creation

Sends Letter to Matthews' Shareholders Highlighting the Company's Poor Governance, Deeply Troubling Board Culture and Desperate, Last-Ditch Effort to Placate Shareholders Ahead of 2025 Annual Meeting

Believes Matthews' Proposed Governance Improvements and Sale of SGK Brand Solutions Division Are a Direct Response to Barington's Positive Influence and that Shareholders Remain at Risk Without Barington's Nominees on the Board

Urges Matthews Shareholders to Vote "FOR" the Election of ALL of Barington Capital's Highly Qualified Nominees Whose Proven Board Effectiveness, Relevant Skills and Backgrounds, and Fierce Commitment to Shareholders Will Benefit ALL Matthews Shareholders

NEW YORK, Feb. 17, 2025 /PRNewswire/ -- Barington Capital Group, L.P. ("Barington Capital"), a fundamental, value-oriented activist investor that, together with the other participants in its solicitation (collectively "Barington" or "we"), beneficially owns approximately 2.2% of the outstanding shares of common stock of Matthews International Corporation (NASDAQ: MATW) ("Matthews" or the "Company"), today sent a letter to the Company's shareholders urging them to elect Barington's highly qualified director nominees – Ana B. Amicarella, Chan W. Galbato and James Mitarotonda – to the Matthews Board of Directors (the "Board") to help restore good governance and drive value creation at Matthews. 

View PDF

The full letter is available at https://barington.com/matthews

James Mitarotonda, Chairman and CEO of Barington Capital, said, "In these critical final days leading up to Matthews' 2025 Annual Meeting of Shareholders, it is clear to us that Matthews is only taking action – including its recently announced corporate governance improvements and sale of the SGK Brand Solutions division – out of desperation rather than a genuine commitment to long-term value creation. Indeed, we are convinced that these changes are a direct result of Barington's positive influence, a last-minute attempt to placate shareholders without addressing the deep systemic issues plaguing the Company, and underscore why shareholders remain at risk without Barington's nominees on the Board.

"We believe that shareholders of Matthews, both large and small, deserve truly independent directors who will serve as fierce advocates for them and ensure that governance and operational decisions are made with their best interests in mind. Barington has already driven meaningful change from outside the boardroom in just a few months. Imagine how much more our three highly qualified nominees could accomplish with a seat at the table. We therefore strongly urge Matthews shareholders to vote "FOR" the election of ALL of Barington's nominees, whose proven board effectiveness, relevant skills and backgrounds, and shareholder-focused mindset will help to improve the Company's governance, reestablish its credibility in the marketplace and maximize long-term shareholder value."

TIME IS RUNNING OUT: PROTECT THE VALUE OF YOUR INVESTMENT AND VOTE "FOR" ALL OF BARINGTON'S NOMINEES TODAY

For additional information regarding Barington's campaign at Matthews, visit: https://barington.com/matthews 

ABOUT BARINGTON CAPITAL GROUP, L.P.

Barington Capital Group, L.P. is a fundamental, value-oriented activist investment firm established by James Mitarotonda in January 2000.  Barington invests in undervalued publicly traded companies that Barington believes can appreciate significantly in value when substantive improvements are made to their operations, corporate strategy, capital allocation and corporate governance.  Barington's investment team, advisors and network of industry experts draw upon their extensive strategic, operating and boardroom experience to assist companies in designing and implementing initiatives to improve long-term shareholder value.

Media Contact:
Jonathan Gasthalter/Amanda Shpiner
Gasthalter & Co.
212-257-4170

Important Information and Participants in the Solicitation

Barington has filed a definitive proxy statement and associated GOLD proxy card with the Securities and Exchange Commission ("SEC") to be used to solicit votes for the election of its slate of highly qualified director nominees at the upcoming annual meeting of stockholders of the Company. Details regarding the Barington nominees and the participants in its solicitation are included in its proxy statement and Barington strongly advises all shareholders of the company to read the proxy statement and other proxy materials as they contain important information.

The participants in Barington's proxy solicitation are Barington, Barington Companies Investors, LLC, Barington Capital Group, L.P., LNA Capital Corp., James Mitarotonda, 1 NBL EH, LLC, Joseph Gromek, Ana B. Amicarella and Chan W. Galbato.

If you have any questions, require assistance in voting your GOLD universal proxy card,
or need additional copies of Barington's proxy materials, please contact:

Okapi Partners
1212 Avenue of the Americas, 17^th Floor
New York, NY 10036

Banks and Brokerage Firms, Please Call: (212) 297-0720
Shareholders and All Others Call Toll-Free: (877) 285-5990
E-mail: [email protected]

SOURCE Barington Capital Group, L.P.