TMRE Investors, LLC Announces Reduction in Holdings in Martinrea International Inc.

NEW YORK, Aug. 7, 2024 /CNW/ - TMRE Investors, LLC (the "Acquiror") announces, pursuant to applicable requirements of Canadian securities laws, that on August 7, 2024, the Acquiror completed a series of distributions in kind to certain of its members (the "Transfers") resulting in the transfer of an an aggregate of 3,421,610 Common Shares (the "Transferred Shares") of Martinrea International Inc. (TSX: MRE), the "Issuer"), representing approximately 4.57% of the issued and outstanding common shares of (the "Common Shares") of the Issuer. The Acquiror no longer has ownership or control over the Transferred Shares and the recipients thereof have full discretion with respect to further dispositions of the Transferred Shares. Prior to the Transfers, the Acquiror beneficially owned and had control over, an aggregate of 10,798,800 Common Shares, representing approximately 14.43% of the issued and outstanding Common Shares. Timothy A. Cox, of Charlesfield Five, LLC, an advisor to and a joint actor of the Acquiror also beneficially owns and controls 35,000 additional Common Shares. As a result of the Transfers, the Acquiror holds less than 10% of the Common Shares outstanding and has ceased to be an insider of the Issuer

The Transfers was made in order to provide certain members of the Acquiror with direct exposure to the Common Shares and permit them to make their own investment decisions with respect thereto.

The Acquiror and its joint actor may acquire additional securities of the Issuer or may dispose of any or all of its holdings of Common Shares, from time to time through, among other things, transactions on the open market or in private transactions or otherwise, on such terms and at such times as the Acquiror and its joint actor, respectively, may deem advisable depending upon an ongoing evaluation of the Common Shares, the Issuer, prevailing market conditions, the availability of Common Shares at prices that would make the purchase or sale of Common Shares desirable, other investment opportunities, liquidity requirements of the Acquiror and its joint actor, respectively, and/or other considerations and in such manner as they deem appropriate, subject to applicable laws.

A copy of the early warning report filed by the Acquiror in connection with the above is available under the Issuer's profile on SEDAR+ at www.sedarplus.com

The Acquiror is located at 712 Fifth Avenue, 12^th floor, New York, NY 10019. 

SOURCE TMRE Investors, LLC

For further information, please contact Steven Warner at [phone].