On January 29, 2024, Irenic Capital Management LP announced that it believes the securities of Barnes Group Inc are undervalued and represent an attractive investment opportunity and has formally nominated 2 qualified candidates, Adam Katz and Larry A. Lawson, for election to the Board of Directors at the Company?s 2024 annual meeting of stockholders. Irenic Capital stated that since November, Irenic Capital has attempted to engage in a constructive and private dialogue with the Board and management in hopes of achieving a cooperative resolution. Irenic Capital stated that it may consider, explore and/or develop plans and/or make proposals (whether preliminary or final) with respect to, among other things, potential changes in the Company's operations, management, organizational documents, composition of the Board, ownership, capital or corporate structure, sale transactions, dividend policy, strategy and plans.

In addition, Irenic Capital expressed that it intends to communicate with the Company's management and Board about and may enter into negotiations and agreements with them regarding, the foregoing and a broad range of operational and strategic matters and to communicate with other stockholders or third parties, including potential acquirers, service providers and financing sources regarding the Company.