Nut Tree Capital Management and Caspian Capital Release Presentation Highlighting Why Martin Midstream Partners L.P. Unitholders Should Vote "AGAINST" Value Destructive Merger with Martin Resource Management Corp.

Presentation Details Why MRMC's Proposed Merger Significantly Undervalues MMLP, the Deeply Flawed Valuation Methodologies and Financial Analysis Used to Justify the Inadequate Merger Consideration, and the Major Conflicts of Interest that Threaten to Enrich Company Insiders at Expense of Unitholders

Remaining as a Publicly Traded MLP Provides a Path to Superior Value for MMLP Unitholders

We Believe Unitholders Stand to Benefit from Imminent and Significant Future Distributions if MMLP Remains Independent

Nut Tree and Caspian Urge Unitholders to Vote "AGAINST" MMLP's Merger with MRMC

View the Presentation at www.ProtectMMLPValue.com

NEW YORK, Dec. 10, 2024 /PRNewswire/ -- Nut Tree Capital Management L.P. ("Nut Tree") and Caspian Capital L.P. ("Caspian"), which together with their affiliates have combined exposure in Martin Midstream Partners L.P. (NASDAQ: MMLP) ("MMLP" or the "Company") of approximately 13.6% of the outstanding common units, today released an investor presentation highlighting reasons why unitholders should vote "AGAINST" the deeply flawed merger of MMLP with Martin Resource Management Corporation ("MRMC").

The presentation contains a detailed explanation regarding how MRMC's $4.02 per common unit price significantly undervalues the Company, the major conflicts pervading the insider-led deal and leading to a flawed process, and MMLP's bright future prospects in remaining as a publicly traded MLP.

Nut Tree and Caspian encourage all MMLP unitholders to review the presentation which can be viewed here and is also available at www.ProtectMMLPValue.com.

Advisors
Olshan Frome Wolosky LLP and Latham & Watkins LLP are serving as legal counsel to Nut Tree and Caspian.

About Caspian Capital LP
Caspian Capital LP's absolute return strategy was founded in 1997 and is focused on performing, stressed, distressed corporate credit, and value equities. Caspian currently oversees $4.6 billion in assets under management.

About Nut Tree Capital Management LP
Nut Tree Capital, founded in 2015, implements a fundamentals-based strategy focused on distressed credit, stressed/event-driven credit and value equities. Nut Tree currently oversees $4 billion in assets.

Contacts
For Investors:
John Ferguson/Joe Mills
Saratoga Proxy Consulting LLC
(212) 257-1311/ (888) 368-0379
[email protected] 

For Media:
Jonathan Gasthalter/Nathaniel Garnick
Gasthalter & Co.
(212) 257-4170

SOURCE Nut Tree Capital Management and Caspian Capital