Premium Brands : Fourth Quarter 2023 — Conference Call Presentation for Premium Brands Holdings Corporation

Disclaimer

This presentation is not intended to form the basis of any investment decision and should not be considered as a recommendation by Premium Brands Holdings Corporation (the "Company") or any other person in relation to the Company's business or the securities of the Company. This presentation is not, and nothing in it should be construed as, an offer, invitation or recommendation in respect of the securities of the Company, or an offer, invitation or recommendation to sell, or a solicitation of an offer to buy, any of the Company's securities in any jurisdiction. Neither this presentation nor anything in it shall form the basis of any contract or commitment. This presentation is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any investor. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate.

Forward Looking Statements

This presentation contains forward looking statements with respect to the Company, including, without limitation, statements regarding its business operations, financial performance and condition, acquisition opportunities, capital projects and plans, outlook and objectives of or involving the Company. While management believes that the expectations reflected in such forward looking statements are reasonable and represent the Company's internal expectations and belief as of the date of this presentation, there can be no assurance that such expectations will prove to be correct as such forward looking statements involve unknown risks and uncertainties beyond the Company's control which may cause its actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward looking statements.

Forward looking statements generally can be identified by the use of the words "may", "could", "should", "would", "will", "expect", "intend", "plan", "estimate", "project", "anticipate", "believe" or "continue", or the negative thereof or similar variations. Forward looking statements in this presentation include statements with respect to the Company's expectations and/or projections regarding its: (i) acquisition opportunities; (ii) investments in project and maintenance capital expenditures, and related returns; (iii) revenue; (iv) growth rate, compounded aggregate growth rate and organic growth rate; (v) EBITDA; and (vi) margin.

Forward looking statements are based on a number of key expectations and assumptions made by the Company, including, without limitation the expectations and assumptions outlined in the Company's Management's Discussion and Analysis ("MD&A") for the 13 and 52 weeks ended December 30, 2023, a copy of which is filed electronically through SEDAR+ and is available online at www.sedarplus.ca. Although the forward looking statements contained in this presentation are based on what the Company's management believes to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward looking statements.

Forward looking statements involve significant risks and uncertainties and should not be read as guarantees of future performance or results. Factors that could cause actual results to differ materially from the Company's expectations as referenced in the MD&A for the 13 and 52 weeks ended December 30, 2023. Readers are cautioned that the foregoing risks and uncertainties are not exhaustive.

Forward looking statements reflect management's current beliefs and are based on information currently available to the Company. Unless otherwise indicated, the forward looking statements in this presentation are made as of the date of this presentation and, except as required by applicable law, will not be publicly updated or revised. This cautionary statement expressly qualifies the forward looking statements in this presentation.

By delivery of this presentation, the Company is not making any representation or warranty, express or implied, as to the fairness, accuracy, correctness, completeness or reliability of the information, opinions or conclusions expressed herein. By accepting this presentation, the recipient agrees that the Company shall not have any liability for any representation or warranty, express or implied, contained in, or for any omission from, this presentation.

Today's Presenters

• George Paleologou
  President & Chief Executive Officer
• Will Kalutycz
  Chief Financial Officer

Key Messages

• 2023 fiscal year results
• • Sales up 3.8% to $6.3 billion
  • Core U.S. sales initiatives generate 10.1% organic growth reaching $2.3 billion in total sales
  • Adjusted EBITDA up 10.9% or $54.9 million
  • Adjusted EBITDA margin up 50 basis points to 8.9%
  • Adjusted EPS of $4.03 per share, down from $4.82 per share in 2022 due to higher interest expense
• 2023 fourth quarter results
• • Sales up $1.4 million after normalizing for an extra week in 2022
  • Core U.S. sales initiatives generate 9.3% organic growth reaching $580.9 million
  • Adjusted EBITDA up $0.8m or $3.2m after normalizing for the extra week
  • Adjusted EBITDA margin up 50 bps to 8.8%
  • Adjusted EPS of $0.85 per share, down from $1.19 per share in 2022
• Quarterly dividend increased by 10.4% to $0.85 per share representing the 10th consecutive year of double-digit increases

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Acquisition Opportunities (millions of dollars except transactions)