M3-BRIGADE ACQUISITION III CORP. ANNOUNCES RECEIPT OF DEPOSIT PROCEEDS IN CONNECTION WITH EXTENSION OF TIME TO COMPLETE INITIAL BUSINESS COMBINATION

NEW YORK, Oct. 27, 2022 /PRNewswire/ -- M3-Brigade Acquisition III Corp. (NYSE: MBSC) (the "Company") announced today that, on October 25, 2022, its sponsor, M3-Brigade Sponsor III LP, or its affiliates or designees deposited $1,696,500 into the Company's trust account, in part from the Company's working capital, for the benefit of the Company's public stockholders, in connection with the extension of the period of time the Company has to consummate its initial business combination until January 26, 2023.  As of the date hereof, there is approximately $305,088,901.38 in the Company's trust account.

About M3-Brigade Acquisition III Corp.

M3-Brigade Acquisition III Corp. is a special purpose acquisition company formed for the purpose of effecting a merger, stock purchase or similar business combination with one or more businesses. We intend to focus its efforts on seeking and consummating an initial business combination with a company that has an enterprise value of at least $1 billion, although a target entity with a smaller or larger enterprise value may be considered. While we may pursue an acquisition opportunity in any business industry or sector and in any geographic region, we expect to focus on businesses or companies which are based in North America and have been impacted by the COVID-19 pandemic or businesses in the renewable energy sector (or related products or services.

Cautionary Note Concerning Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to the Company's search for an initial business combination target. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement for the initial public offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact:

M3-Brigade Acquisition III Corp.
c/o M3 Partners, LP
1700 Broadway
19th Floor
New York, NY 10019
www.m3-brigade.com

Investor Relations
Kristin Celauro   (212) 202-2223

SOURCE M3-Brigade Acquisition III Corp.