Matthews International Announces Significant Governance Enhancements

Core Points - Matthews International Corporation announced a Board refreshment plan and corporate governance enhancements aimed at enhancing long-term shareholder value [1] - The current Board Chair, Alvaro Garcia-Tunon, will retire at the 2026 Annual Meeting, with a new independent Board Chair to be appointed [2][3] - The Board is in the process of appointing a new independent director with significant experience in battery and EV technology solutions [4] - The Board has added five new independent directors since 2020, with four added in the past two years [5] - The Company plans to declassify the Board and implement other governance changes to improve transparency and shareholder value [6][8] Governance Changes - The Company will propose amendments to its Articles of Incorporation and Bylaws at the 2026 Annual Meeting, including declassifying the Board for annual director elections [8] - The voting standard for uncontested elections will change to a majority voting standard, replacing the current plurality standard [8] - Supermajority voting requirements for certain amendments will be eliminated [8] Strategic Initiatives - Matthews has strategically diversified its business and built a global platform to enhance its market position [7] - The Company is in the process of selling SGK Brand Solutions for $350 million and a 40$50 million [18]