Premium Brands : Second Quarter 2022 — Conference Call Presentation for Premium Brands Holdings Corporation

Second Quarter 2022

Conference Call

August 5, 2022

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.

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Forward Looking Statements

This presentation contains forward looking statements with respect to the Company, including, without limitation, statements regarding its business operations, strategy and financial performance and condition, proposed acquisitions, 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) projected revenues; (iii) inventory projections and targets; (iv) growth rate; (v) expected rate of return on acquisitions and capital expenditure projects; (vi) EBITDA, margin and sales projections and targets; and (vii) dividends and dividend policy.

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 26 weeks ended June 25, 2022, a copy of which is filed electronically through SEDAR and is available online at www.sedar.com. 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 are outlined in the MD&A for the 13 and 26 weeks ended June 25, 2022. 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.

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Today's Presenters

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

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Key Messages

• Record second quarter results despite ongoing headwinds
• • Sales up 23.1% to $1.52 billion
  • Adjusted EBITDA up 16.6% or $18.6 million
  • Adjusted EPS up 12.2% or $0.15 per share to $1.38 per share
• Selling price increases of $134.4 million in the quarter - $490 million for the trailing four quarters
• Clearwater continues to perform well ahead of plan
• • Sales up 9.2% YTD
  • Adjusted EBITDA up 17.8% YTD
• Acquisition activity remains especially robust with two transactions completed during the quarter
• Well positioned to reach 2023 annual sales and adjusted EBITDA goals of $6 billion and $600 million ahead of plan

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