Caspian Capital Issues Statement on Martin Midstream Partners L.P.

Group 1 - Caspian Capital L.P. supports Martin Midstream Partners L.P.'s decision to terminate its merger agreement with Martin Resource Management Corporation, indicating confidence in MMLP's standalone value creation for unitholders [1] - Caspian believes that the potential valuation of MMLP exceeds the purchase price offered in the proposed merger, highlighting the expected benefits for common unitholders from upcoming developments [1] - The company has ceased its efforts to acquire MMLP and ended collaboration with Nut Tree Capital Management L.P., focusing instead on monitoring MMLP's execution and capital allocation [1] Group 2 - Caspian Capital LP was founded in 1997 and employs an absolute return strategy, managing $4.7 billion in assets, with a focus on performing, stressed, distressed corporate credit, and value equities [2]