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MATTHEWS INTERNATIONAL REPORTS RESULTS FOR FOURTH QUARTER AND FISCAL YEAR ENDED SEPTEMBER 30, 2025

Financial Highlights : 4th Quarter consolidated sales of $318.8 million; $1.50 billion for fiscal 2025Memorialization segment reports higher 4th quarter sales and adjusted EBITDAWarehouse Automation transaction expected to reduce net leverage ratio below 3.0xCompany sets consolidated adjusted EBITDA guidance for fiscal 2026Webcast: Friday, November 21, 2025, 9:00 a.m., (201) 689-8471 PITTSBURGH, Nov. 20, 2025 /PRNewswire/ -- Matthews International Corporation (NASDAQ GSM: MATW) today announced financial results for the quarter and fiscal year ended September 30, 2025. In discussing the Company's results, Joseph C. Bartolacci, President and Chief Executive Officer, stated: "I am pleased to report that we had a strong finish to fiscal 2025 as our consolidated results were ahead of our initial expectations for the fiscal 2025 fourth quarter. Sales for the Memorialization segment and warehouse automation business outperformed their levels from the same quarter a year ago, and we continued to lower our corporate and other non-operating costs. Please note that the divestiture of the SGK business was a significant factor in the year-over-year comparability of the Company's financial results. "The Memorialization segment reported higher sales for the current quarter compared to a year ago, primarily reflecting the benefit of its recent acquisition of The Dodge Company. Higher sales volumes for bronze memorials and inflationary price realization also contributed to the sales increase for the quarter. "Sales for the Industrial Technologies segment for the fiscal 2025 fourth quarter were lower than a year ago reflecting challenges in our engineering business related to the ongoing litigation with Tesla. However, interest from other customers in our dry battery electrode solutions remains very strong, which we anticipate will start to convert to orders in fiscal 2026. Market conditions for the warehouse automation business continued its recovery and, as a result, our warehouse automation sales for the current quarter increased from a year ago. "Since closing of the SGK divestiture in May 2025, Propelis (the joint venture formed as a result of the SGK transaction) has performed very well. As you recall, the annual adjusted EBITDA level of the combined entities at the closing date approximated $100 million and Propelis is on track to perform at a rate well above this level. "Additionally, the Company's consolidated net debt level declined modestly during the fiscal 2025 fourth quarter. As we recently announced, our debt levels and related leverage ratio will improve with the closing of the pending sale of our warehouse automation business. We intend to apply the net proceeds from this transaction primarily to debt reduction which is expected to result in a net leverage ratio below 3.0x as we work toward our long-term target of 2.5x. "I am extremely proud of our Company's accomplishments during the fiscal year considering the challenges we encountered. During fiscal 2025, these accomplishments included: divestiture of the SGK business at an accretive valuation while maintaining a significant interest in this business through our 40% ownership of Propelis; favorable rulings in the Tesla litigation; multiple asset sales; reduction in outstanding debt; annual increase in dividends to our shareholders; further reduction in the Company's corporate costs; commercial launch of the new printhead solution; and announcement of the pending sales of the warehouse automation and European packaging businesses, also at accretive valuations. I want to take this opportunity to express my sincere appreciation to our employees for their efforts and dedication. "I am excited about the new foundation we are establishing and the future of Matthews. As a result of our thoughtful strategic alternatives process, we are reducing the complexity of our diversified business portfolio and significantly strengthening our balance sheet – addressing important concerns expressed by our shareholders. We now enter the new fiscal year with a strong focus on sustaining our momentum in Memorialization, capitalizing on the opportunities in the high growth Industrial Technologies segment in which we have significant competitive technologies, and taking further cost reduction actions. Our strategic alternatives review to enhance shareholder value creation remains ongoing. "For fiscal 2026, we expect continued growth in the Memorialization segment, particularly with the full year contribution from the acquisition of The Dodge Company. Additionally, while we expect conditions for the engineering business to remain challenged as a result of the ongoing litigation, we are currently planning further cost reduction actions designed to mitigate further declines while we work toward the future realization of the significant opportunities we have created. Lastly, following the closing of the pending transactions, we expect further reductions in our corporate and non-operating costs. In consideration of these factors, we are currently targeting adjusted EBITDA (including our 40% share of Propelis) to be at least $180 million for fiscal 2026." Divestiture of the SGK Business As previously reported, on May 1, 2025, the Company contributed the SGK business to a newly-formed entity, Propelis, in exchange for 40% of the common equity of Propelis, a $50 million preferred equity investment in Propelis, retention of trade accounts receivable of $50 million, and cash proceeds of $250 million ($228 million net of divested cash). The consolidated financial information presented in this release reflects the financial results of the SGK business through the closing date. As a result of the integration process of Propelis and transition to its stand-alone reporting systems, our 40% portion of the financial results of Propelis is being reported on a one-quarter lag. Accordingly, the consolidated financial information presented in this release includes our 40% interest in the financial results of Propelis for May and June 2025. Based on preliminary financial projections provided by Propelis, their current estimate of adjusted EBITDA for the period July 1, 2025 through September 30, 2025 was $32.2 million. Please note that these projections are unaudited and subject to review and, as a result, may change. Our 40% portion of this amount would be $12.9 million. Accordingly, with the addition of our 40% interest in Propelis for the period July 1, 2025 through September 30, 2025, the Company's consolidated adjusted EBITDA for the fiscal year ended September 30, 2025 would be approximately $200 million. The Company will host a conference call and webcast on Friday, November 21, 2025, at 9:00 a.m. Eastern Time to review its financial and operating results and discuss its corporate strategies and outlook. A question-and-answer session will follow. The conference call can be accessed by dialing (201) 689-8471. The audio webcast can be monitored at www.matw.com. As soon as available after the call, a transcript of the call will be posted on the Investor Relations section of the Company's website at www.matw.com. About Matthews International Corporation Matthews International Corporation is a global provider of memorialization products, industrial technologies, and brand solutions. Matthews International Corporation operates through two core global businesses – Industrial Technologies and Memorialization. Both are focused on driving operational efficiency and long-term growth through continuous innovation and strategic expansion. The Industrial Technologies segment evolved from our original marking business, which today is a leading global innovator committed to empowering visionaries to transform industries through the application of precision technologies and intelligent processes. The Memorialization segment is a leading provider of memorialization products, including memorials, caskets and cremation and incineration equipment, primarily to cemetery and funeral home customers that help families move from grief to remembrance. The Company also has a significant investment in Propelis, a brand solutions business formed through the merger of SGK and SGS & Co. Propelis offers integrated solutions including brand creative, packaging, print solutions, branded environments, and content production. The Company has over 5,500 employees in 18 countries on four continents that are committed to delivering the highest quality products and services. Forward-looking Information Any forward-looking statements contained in this release are included pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the expectations, hopes, beliefs, intentions or strategies of Matthews International Corporation and its consolidated subsidiaries (collectively "Matthews" or the "Company") regarding the future, including statements regarding the anticipated benefits and risks associated with the joint venture transaction with Peninsula Parent LLC, d.b.a. Propelis Group ("Propelis") and the timing thereof, and may be identified by the use of words such as "expects," "believes," "intends," "projects," "anticipates," "estimates," "plans," "seeks," "forecasts," "predicts," "objective," "targets," "potential," "outlook," "may," "will," "could" or the negative of these terms, other comparable terminology and variations thereof. Such forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to be materially different from management's expectations, and no assurance can be given that such expectations will prove correct. Factors that could cause the Company's results to differ materially from the results discussed in such forward-looking statements principally include risks to our ability to achieve the anticipated benefits of the joint venture transaction with Propelis that closed in fiscal year 2025, changes in domestic or international economic conditions, changes in foreign currency exchange rates, changes in interest rates, changes in the cost of materials used in the manufacture of the Company's products, including changes in costs due to adjustments to tariffs, any impairment of goodwill or intangible assets, environmental liability and limitations on the Company's operations due to environmental laws and regulations, disruptions to certain services, such as telecommunications, network server maintenance, cloud computing or transaction processing services, provided to the Company by third-parties, changes in mortality and cremation rates, changes in product demand or pricing as a result of consolidation in the industries in which the Company operates, or other factors such as supply chain disruptions, labor shortages or labor cost increases, changes in product demand or pricing as a result of domestic or international competitive pressures, ability to achieve cost-reduction objectives, unknown risks in connection with the Company's acquisitions, divestitures, and business combinations, cybersecurity concerns and costs arising with management of cybersecurity threats, effectiveness of the Company's internal controls, compliance with domestic and foreign laws and regulations, technological factors beyond the Company's control, impact of pandemics or similar outbreaks, or other disruptions to our industries, customers, or supply chains, the impact of global conflicts, such as the current war between Russia and Ukraine, the Company's plans and expectations with respect to its exploration, and contemplated execution, of various strategies with respect to its portfolio of businesses, the Company's plans and expectations with respect to its Board of Directors, and other factors described in the Company's Annual Report on Form 10-K and other periodic filings with the U.S. Securities and Exchange Commission.