JPM | Special Situations: US Potential M&A / Strategic Reviews: July 9, 2026: North America Special Situations Specialist Commentary Merger Arbitrage · Pre-Announced · Spin-offs · Event Driven

Research evidence excerpt

JPM | Special Situations: US Potential M&A / Strategic Reviews: July 9, 2026: North America Special Situations Specialist Commentary Merger Arbitrage · Pre-Announced · Spin-offs · Event Driven

the Independent Chairperson of the Board. Following Donerail’s recently announced unsolicited

indication of interest to acquire the Company (the “Indication of Interest”), the Company promptly responded to Donerail with

customary questions aimed at facilitating the Board’s evaluation of Donerail’s interest, funding sources and execution certainty.

The Board is committed to evaluating any credible proposal that has the potential to enhance value and, with the assistance of

independent financial and legal advisors, will continue to carefully review Donerail’s Indication of Interest in good faith,

consistent with its fiduciary duties. Donerail’s claim that MarineMax has “not offered any productive engagement” is patently

false, and we are disappointed that Donerail would ignore the Board and management team’s track record of collaborative

dialogue, which Donerail itself has privately acknowledged and commended.”-PR

Feb-26: Levin Capital Strategies, a top 10 shareholder of MarineMax, today announced it is calling on the Company’s Board of

Directors to initiate an immediate review of strategic alternatives following its prior failures to capitalize on credible acquisition

offers. Levin Capital believes the Board is obligated to rigorously explore all available paths to maximizing shareholder value,

including by engaging with The Donerail Group following its recent submission of an all-cash offer.-PR

Feb-26: MarineMax Presses On With Sale, As Donerail Raises Offer And Blackstone, Centerbridge Partners, Blue Compass,