M3-BRIGADE ACQUISITION III CORP. ANNOUNCES RECEIPT OF DEPOSIT PROCEEDS IN CONNECTION WITH EXTENSION OF TIME TO COMPLETE INITIAL BUSINESS COMBINATION

NEW YORK, Jan. 27, 2023 /PRNewswire/ -- M3-Brigade Acquisition III Corp. (NYSE:MBSC) ("MBSC" or the "Company") announced today that, on January 26, 2023, its sponsor, M3-Brigade Sponsor III LP, or its affiliates or designees deposited $1,696,500 into the Company's trust account, in part from the Company's working capital, for the benefit of the Company's public stockholders, in connection with the extension of the period of time the Company has to consummate its initial business combination until April 26, 2023.  As of the date hereof, there is approximately $307,291,000 in the Company's trust account.  The Sponsor has informed MBSC that it intends to request additional extensions of the period of time the Company has to consummate its initial business combination, to the extent necessary to complete its previously announced business combination (the "Business Combination") with Greenfire Resources Inc. ("Greenfire"). The Charter permits a total of four three-month extensions (i.e., until October 26, 2023), of which this is the second.