Slide 1: Investor Presentation June 2026
Investor Presentation June 2026
Slide 2: Disclaimer
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 presentat
Slide 3: Forward Looking Statements
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, acquisition opportunities, capital projects and plans, outlook
Slide 4: Company Profile
Company Profile 2004 2019 2024 2025 2026P Revenue $0.2b $3.6b $6.4b $7.3b $9.25b - $9.55b Adjusted EBITDA $14.1m $307.3m $590.5m $658.3m $870m - $910m Business platforms 2 6 6 6 6 Geographic reach Western Canada North America North America North America North America Operating facilities 8
Slide 5: Our Vision: The Future of Food is in the Past
Our Vision Our Vision: The Future of Food is in the Past To invest in specialty food businesses featuring: • Entrepreneurial cultures • Great tasting foods made with wholesome ingredients • A passion for both their local communities and what is best for our planet The Future of Food is in the Past 5
Slide 6: Share Price History
Share Price History (in dollars) 4500.00 8.00 4000.00 7.00 3500.00 6.00 3000.00 5.00 Closing share price: Index 2500.00 4.00 • Dec 31, 2003 – $8.60 2000.00 • Jun 12, 2026 – $88.12 3.00 1500.00 2.00 1000.00 500.00 1.00 0.00 0.00 PBH share value (LHS) S&P/TSX Composite Index - Total Return (LHS) FCF /
Slide 7: Premium Brands
Premium Brands To provide talented proven entrepreneurs with the resources they need to transform their good food businesses into bigger great food businesses ENTREPRENEURSHIP with ACCOUNTABILITY The Future of Food is in the Past 7
Slide 8: Core Strategies
Core Strategies ⚫ Leading regional brands focused on authenticity and differentiation Highly Focused Capital Allocation ⚫ White space Platform Targeting Niche ⚫ Long-term sustainable consumer trends Segments in the Food Industry ⚫ Stronger pricing power ⚫ Dedicated to maintaining an entrepreneurial
Slide 9: Group Details
Group Details (in millions except percentages) 2004 2025 Revenue Business group Overview Revenue Proforma (1) % Products include meat sticks, cooked protein, charcuterie, European deli meats, specialty marinated products and premium processed meats. The Protein 125.5 4,463.3 51.6% Protein Group has
Slide 10: Business Groups
Business Groups Lobster Distribution Protein Custom Culinary Solutions Ready Group C&C Group Oberto Group Concord Group Sandwich Group • L Walker Seafood • IMS • Hempler’s • Skilcor • HQ Foods • Maine Coast • Viandex • Isernio’s • The Meat Factory • SK Food Group • C.H. Rich • Maison du Gibier • Bav
Slide 11: Premium Brands' Unique Ecosystem
Premium Brands’ Unique Ecosystem Disciplined Capital Allocation Access to Capital Acquisition Expertise ⚫ Unique ecosystem Global and Strategic enables Logistics Procurement, Buying Power entrepreneurs to optimize growth and performance Brand Development / Real Estate Investment Fund Marketing Resou
Slide 12: Strategically Located Manufacturing Network with State-of-the-Art Facilities
Strategically Located Manufacturing Network with State-of-the-Art Facilities Well-balanced, coordinated network, with most goods distributed in the country where they are manufactured Top-of-line product lines and irreplicable footprint of facilities, resulting from over $1.0 billion of recent inves
Slide 13: Future of Food in Past
Stampede Culinary Partners SK Food Group - Cleveland, TN Bridgeview, IL Maid-Rite Specialty Foods - Dunmore, PA Alma, GA Sunland Park, NM Kings Command Foods - Versailles, OH 13 TheThe Future Future of Food of Food is inisthe in Past the Past 13 13
Slide 14: Diversification – 2025 Sales by Channels and Customers
Diversification – 2025 Sales by Channels and Customers SF (67.5%) PFD (32.5%) Foodservice Chains and large format distributors , 6.7% retailers, 6.5% Business Others, 0.5% Trading, 2.5% Customer % Sales Touch Points ISR, 4.9% Foodservice operators, Customer A 15.1% 26 8.8% Customer B 13.2% 2 Custome
Slide 15: Diversification – Procurement and 2025 Sales by Product Category
Diversification – Procurement and 2025 Sales by Product Category SF (67.5%) PFD (32.5%) Baked goods, 2.1% Others, 1.1% Commodity % Sales Sandwiches, 19.9% Seafood, 16.9% Beef 18.8% Seafood 14.6% Pork 9.1% Protein, 13.9% Poultry 7.0% Bread 3.6% Eggs 2.6% Others, 1.7% Cheese 2.1% Turkey 1.4% Protein,
Slide 16: Diverse Ecosystem of Sales and Procurement Channels
Diverse Ecosystem of Sales and Procurement Channels Procurement Sources Total Procurement Sources by SCOTLAND NETHERLANDS Beef, Seabass, Cod Fillets, Country (2025) Seafood Misc. Halibut, Plaice & Salmon GERMANY Canada – 44.6% Beef & Pork USA – 45.6% ICELAND Other – 9.8% Cod, Salmon, DENMARK Plaice,
Slide 17: Organic Growth Strategies
Organic Growth Strategies • On trend product categories • Emerging trends • History of demand exceeding supply • “White space” driven innovation • U.S. roll out strategy • Focus on individual differentiated SKUs rather than categories • Export markets in focus • PB Corporate sponsored innovation pre
Slide 18: Acquisitions Growth Strategy
Acquisitions Growth Strategy Considerations Resources • Management team strength • Comprehensive in-house financial modeling, due diligence and • Cultural fit – core entrepreneurial focused values transaction closing capabilities • Differentiation of products and / or services • Access to a range of
Slide 19: Acquisitions Activity
Acquisitions Activity 2005 to 2010 to 2015 to 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2009 2014 2016 $147.5m $260.9m $295.9m $246.2m $753.0m $118.6m $168.2m $858.0m $125.0m $9.5m $91.5m $30.6m $1,029.8m Harlan Maximum Expresco Raybern Oberto Mavros Inform Clearwater Beechgrove McLean’s NSP
Slide 20: Acquisition Opportunities
Acquisition Opportunities (millions of dollars except transactions) Agreed to terms and in Identified future Past discussions and In negotiations In discussions due diligence opportunity currently on hold Platform Advanced Active Early Stage Opportunity Inactive Total # Sales # Sales # Sales # Sales
Slide 21: A Leader in Environmental, Social, Governance, and Food Safety Practices
A Leader in Environmental, Social, Governance, and Food Safety Practices 2025 ESG Report – Foundational Principles ⚫ Clean ingredients, sustainable supply chains, animal Nutritious welfare standards, responsible labeling, excellence in Food food safety ⚫ Employee safety-first culture, prioritizing e
Slide 22: The Future of Food is in the Past
The Future of Food is in the Past 22
Slide 23: Future of Food in Past
23 TheThe Future Future of Food of Food is inisthe in Past the Past 23 23
Slide 24: The Future of Food is in the Past
The Future of Food is in the Past 24
Slide 25: Future of Food in Past
25 TheThe Future Future of Food of Food is inisthe in Past the Past 25 25
Slide 26: Future of Food in Past
26 TheThe Future Future of Food of Food is inisthe in Past the Past 26 26
Slide 27: Financial Update
Financial Update The Future of Food is in the Past 27
Slide 28: Annual Revenue
Annual Revenue (millions of dollars except percentages and excluding discontinued operations) 11,000.0 70% 10,000.0 60% 9,000.0 8,000.0 50% 7,000.0 • 2026 guidance is $9.25 billion 40% to $9.55 billion 6,000.0 • 2019 to 2025 CAGR of 12.4% 5,000.0 30% 4,000.0 3,000.0 20% 2,000.0 10% 1,000.0 - 0% 2019
Slide 29: 2025 Growth Drivers
2025 Growth Drivers (millions of dollars except percentages) Total 2024 revenue – Continuing Ops 6,372.4 Acquisitions 298.5 Price inflation 195.6 Exchange impact 45.5 Organic volume growth 417.3 Organic volume growth rate 6.5% Represents an organic volume Core specialty food U.S. growth initiatives
Slide 30: Annual Adjusted EBITDA
Annual Adjusted EBITDA (millions of dollars except percentages) 1,000.0 11.0% 900.0 10.0% 800.0 700.0 9.0% • 2026 guidance is $870 million to $910 million 600.0 8.0% • 2019 to 2025 CAGR of 12.7% 500.0 7.0% 400.0 300.0 6.0% 200.0 5.0% 100.0 - 4.0% 2019 2020 2021 2022 2023 2024 2025 TTM 2026P Adjusted
Slide 31: Commodity Trends – Manufacturing Beef
Commodity Trends – Manufacturing Beef Beef Index Chart 25.0 23.0 21.0 19.0 17.0 USD Based 15.0 Index Per lb 13.0 11.0 9.0 7.0 5.0 week 13 week 26 week 39 week 52 2022 2023 2024 2025 5yr Avg • Index is comprised of a weighted basket of the following beef products: 100% lean inside round, outside roun
Slide 32: Annual Adjusted Earnings and EPS
Annual Adjusted Earnings and EPS (millions of dollars except per share amounts) 250.0 $7.00 $6.00 200.0 • Adjusted earnings 2019 to Q1- $5.00 2026 TTM CAGR of 10.5% • 2023 to 2025 earnings heavily 150.0 $4.00 impacted by recent growth- related investment: • Plant overhead $3.00 100.0 • Depreciation
Slide 33: Project Capital Expenditures
Project Capital Expenditures (millions of dollars except percentages) 140.0 120.0 100.0 80.0 • Project capex are expected to generate an unlevered, after-tax IRR of 15% or greater 60.0 • Expect to spend an additional $55 million on 40.0 approved major project capex over the next three quarters 20.0
Slide 34: Startup and Restructuring Costs
Startup and Restructuring Costs (in millions of dollars) 70.0 60.0 50.0 40.0 • Startup and restructuring costs are expected to drop significantly in 2026 as new production capacity achieves 30.0 base operating parameters 20.0 10.0 - 2022 2023 2024 2025 From 2022 to 2025 we have invested $177 million
Slide 35: Start-Up and Restructuring Costs
Start-Up and Restructuring Costs (millions of dollars – restated for discontinued operations) 5.5 Ferndale plant expansion startup 2.2 New cooked lines startup 0.4 2.5 1.5 Projects are all completed 4.5 4.5 2.9 4.3 4.8 Piller’s plant reconfiguration 1.6 7.4 9.1 Major new product launch 2.9 1.5 Proje
Slide 36: Net Working Capital Investment
Net Working Capital Investment (in millions of dollars) 400.0 300.0 200.0 • Net working capital growth is expected to slow significantly now that the volatility associated with new product launches and onboarding incremental production capacity 100.0 is built into our net working capital profile - -
Slide 37: Steady State Free Cash Flow
Steady State Free Cash Flow (millions of dollars except per share amounts and percentages) $8.00 320.0 $7.00 280.0 • 2018 to Q1-2026 TTM free cash flow $6.00 CAGR of 9.6% 240.0 $5.00 • 2018 to Q1-2026 TTM free cash flow 200.0 per share CAGR of 4.3% 160.0 $4.00 • $1,293.8m in declared dividends since
Slide 38: Pro-forma Debt Ratio Analysis
Pro-forma Debt Ratio Analysis (millions of dollars except ratios) Q1-2026 Pro-forma Q1-2025 Q2-2025 Q3-2025 Q4-2025 Q1-2026 Shaw Bakers Divestiture Senior debt-to-EBITDA ratio 3.4 : 1 3.3 : 1 3.4 : 1 3.2 : 1 3.1 : 1 2.9 : 1 Total debt-to-EBITDA ratio 4.6 : 1 4.2 : 1 4.3 : 1 4.3 : 1 4.1 : 1 3.9 : 1 T
Slide 39: 5-Year Plan
5-Year Plan (millions of dollars) 5 Year 5 Year 5 Year Target Adjusted Targeted Base Year Sales Targeted Year EBITDA Adjusted Sales EBITDA 2010 2015 535 42 1,000 n/a 2014 2019 1,222 78 2,000 n/a 2018 2023 3,026 251 6,000 600 2022 2027 6,030 504 10,000 1,000 2023 6,261 559 2024 adjusted for acquisiti
Slide 40: Questions
Questions The Future of Food is in the Past 40