Mexican authorities seize MarineMax's Cabo Marina assets; operations halted

MARINEMAX INC

General Directorate of Ports of Mexico seized Cabo Marina assets on April 11, 2024, and rejected a new concession.
ASIPONA forced Cabo Marina to cease operations and took control of Port of Cabo San Lucas.
Cabo Marina had operated the marina for over 20 years; MarineMax believes the seizure is illegal.
Cabo Marina represented less than 4% of total assets and less than 1% of total revenues as of Sept 30, 2023.
Company engaged Mexican and U.S. officials to resolve; may pursue legal action if diplomatic efforts fail.

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