Kyle May

Selman Akyol

Patrick John Fitzgerald

Timothy O'Toole

- Martin Midstream Partners L.P. reported a **net loss of $8.4 million** and **Adjusted EBITDA of $19.3 million** for the third quarter ended September 30, 2025.  **[1176334_0001176334-25-000124_exhibit991-09302025earning.htm:0]** 
- The Partnership declared a **quarterly cash dividend of $0.005 per common unit**.  **[1176334_0001176334-25-000124_exhibit991-09302025earning.htm:0]** 
- MMLP is **withdrawing its full year 2025 guidance** due to **uncertainty and demand softness** impacting inland barge fuel transportation in the Transportation segment.  **[1176334_0001176334-25-000124_exhibit991-09302025earning.htm:0]** **[1176334_0001176334-25-000124_exhibit991-09302025earning.htm:2]** 
- The adjusted leverage ratio increased to **4.63 times** as of September 30, 2025, compared to 4.20 times on June 30, 2025, though the Partnership was in compliance with all debt covenants.  **[1176334_0001176334-25-000124_exhibit991-09302025earning.htm:0]** **[1176334_0001176334-25-000124_exhibit991-09302025earning.htm:2]**

Martin Midstream Partners L.P. Reports Q3 2025 Results, Declares Dividend, and Withdraws Guidance

- Martin Midstream Partners L.P. (MMLP) announced the amendment and extension of its revolving credit facility, extending the maturity date from February 8, 2027, to **November 16, 2027**.  **[1176334_0001176334-25-000121_pressreleasedatedseptember.htm:0]** **[1176334_0001176334-25-000121_mmlp-20250924.htm:1]** **[1176334_0001176334-25-000121_exhibit101-martinmidstream.htm:1]** **[1176334_0001176334-25-000121_exhibit101-martinmidstream.htm:2]** 
- The facility's borrowing capacity was decreased from **$150 million to $130 million**.  **[1176334_0001176334-25-000121_pressreleasedatedseptember.htm:0]** **[1176334_0001176334-25-000121_mmlp-20250924.htm:1]** **[1176334_0001176334-25-000121_exhibit101-martinmidstream.htm:1]** **[1176334_0001176334-25-000121_exhibit101-martinmidstream.htm:2]** 
- As of **June 30, 2025**, the Partnership had **$41 million** outstanding under the credit facility, which also includes an accordion feature for up to an additional **$50 million**.  **[1176334_0001176334-25-000121_pressreleasedatedseptember.htm:0]** 
- The amendment revises financial covenants, requiring a minimum Interest Coverage Ratio of **1.75 to 1.00** for fiscal quarters ended March 31, 2025, and thereafter.  **[1176334_0001176334-25-000121_mmlp-20250924.htm:1]** **[1176334_0001176334-25-000121_exhibit101-martinmidstream.htm:2]**  It also sets a maximum Total Leverage Ratio of **4.50 to 1.00** for Q1 and Q2 2025, stepping up to **4.75 to 1.00** for Q3 2025 and thereafter, and a maximum First Lien Leverage Ratio of **1.25 to 1.00** for fiscal quarters ended March 31, 2025, and thereafter.  **[1176334_0001176334-25-000121_mmlp-20250924.htm:1]** **[1176334_0001176334-25-000121_exhibit101-martinmidstream.htm:2]**

MARTIN MIDSTREAM PARTNERS (MMLP)