BARINGTON CAPITAL GROUP CALLS FOR TRIMAS TO CONSIDER A RANGE OF STRATEGIC ALTERNATIVES TO ADDRESS IT LONG-TERM SHARE PRICE UNDERPERFORMANCE

Core Viewpoint - Barington Capital Group believes that TriMas Corporation's multi-segment structure has not benefited shareholders and recommends exploring alternatives to enhance shareholder value [1][2]. Performance Comparison - TriMas has underperformed compared to its peers and the market over various time frames, with a total shareholder return of +4.6% since Barington's previous letter, while peers and the Russell 2000 returned +26.8% and +19.1%, respectively [4][6]. - The current trading multiple for TriMas is 8.6x NTM consensus EBITDA, which is considered low compared to the value of its Packaging and Aerospace segments [4][6]. Recommendations - Barington suggests two main alternatives for TriMas to improve shareholder value: (i) sell the Aerospace segment or (ii) sell the entire Company [2][5].