MATTHEWS INTERNATIONAL Business Summary

Matthews International Corp (MATW) is a global provider of memorialization products and industrial technologies, generating revenue through the direct sale of manufactured goods and specialized engineering services. Following a strategic 2025 portfolio streamlining, the company operates two primary segments: Memorialization, which provides caskets, bronze and granite memorials, and cremation equipment to funeral homes and cemeteries; and Industrial Technologies, which focuses on high-growth energy storage solutions (specifically proprietary Dry Battery Electrode technology) and product identification systems. As of Q1 2026, the Memorialization segment accounts for approximately 72% of consolidated sales, bolstered by the recent acquisition of The Dodge Company. Matthews maintains a 40% equity stake in Propelis, a brand solutions entity formed from the divestiture of its SGK business. Direct competitors include Hillenbrand (HI), Carriage Services (CSV), and Service Corporation International (SCI) in the death care space, and Siemens Industry in industrial automation; Matthews distinguishes itself by leveraging stable cash flows from its legacy memorialization business to fund expansion into the renewable energy infrastructure market. Founded in 1850 by John Dixon Matthews, a master engraver from Sheffield, England, the company is currently led by President and CEO Joseph C. Bartolacci, who has served as the firm's chief executive since 2006 and has overseen its transition into a technology-driven enterprise. The executive team includes Daniel E. Stopar, who was appointed Chief Financial Officer and Treasurer on December 1, 2025, bringing over a decade of internal operational finance experience. The Board of Directors is currently chaired by Alvaro Garcia-Tunon, with J. Michael Nauman—the former President and CEO of Brady Corporation—serving as Chairman-elect to officially succeed Garcia-Tunon following the February 19, 2026, annual meeting. Notable institutional backers include The Vanguard Group, Gamco Investors, and Dimensional Fund Advisors, while activist investor Barington Capital remains a significant stakeholder following a 2026 cooperation agreement aimed at enhancing shareholder value.