MMLP eases credit covenants for Q1-Q3 2025; adopts phantom unit plan

MARTIN MIDSTREAM PARTNERS L.P.

Credit agreement amended: interest coverage ratio floor lowered to 1.75x for Q1-Q3 2025 from 2.00x, then back to 2.00x.
First lien leverage ratio maximum reduced to 1.25x for Q1-Q3 2025 from 1.50x, then back to 1.50x.
Board approved 2025 Phantom Unit Plan; 1.21M phantom units and 425K appreciation rights granted to employees.

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