Slide 1: Second Quarter Conference Call
Second Quarter Conference Call August 6, 2025
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, financial performance and condition, acquisition opportunities, capital projects and plans, outlook and objective
Slide 4: Key Highlights for the Quarter
Key Highlights for the Quarter Operations • Record second quarter sales and adjusted EBITDA • U.S. focused growth initiatives in protein and bakery generate organic volume growth of 15% and 98% respectively • Premium Food Distribution’s revenue increased by $52.2 million or 9.5% with organic volume
Slide 5: Acquisition Opportunities
Acquisition Opportunities (millions of dollars except transactions) Agreed to terms and Identified Past discussions In negotiations In discussions in due diligence future opportunity and currently on hold Platform Advanced Active Early Stage Opportunity Inactive Total # Sales # Sales # Sales # Sales
Slide 6: SK Food Group
SK Food Group Cleveland, TN 352,000 sf production facility 5 The Future of Food is in the Past 5 5
Slide 7: NSP Quality Meats
NSP Quality Meats Owasso, OK 85,000 sf production facility 6 The Future of Food is in the Past 6 6
Slide 8: Q2-2025 Financial Update
Q2-2025 Financial Update 7 The Future of Food is in the Past 7 7
Slide 9: Quarter Sales Performance
Quarter Sales Performance (millions of dollars except percentages) 2,500.0 35% 30% 2,000.0 • Targeted long-term annual organic volume 25% growth rate range of 4% to 6% 20% 1,500.0 Q2 Growth Drivers 15% • Organic volume growth – $82.4m or 4.8% 1,000.0 10% • Acquisitions – $73.9m • Selling price infla
Slide 10: U.S. Sales Analysis
U.S. Sales Analysis (millions of dollars except percentages) Q2-25 FX & Q2-25 Q2-24 Acquis OVG Q2-25 YTD Pricing OVGR (1) OVGR Core US growth initiatives: Protein Group 256.7 16.2 72.6 38.4 384.0 15.0% 12.7% Sandwich Group 384.6 4.2 - (9.0) 379.9 (2.3%) 2.5% Bakery Group 20.1 0.3 - 19.7 40.1 98.1% 6
Slide 11: Quarter Adjusted EBITDA Performance
Quarter Adjusted EBITDA Performance (millions of dollars except percentages) 180.0 10.0% 160.0 • Targeted mid-term annual adjusted EBITDA 9.0% margin – 10% 140.0 • Adjusted EBITDA and adjusted EBITDA margin 120.0 8.0% after normalizing for impacts of raw material cost 100.0 inflation – $192.5 millio
Slide 12: Quarter Adjusted Earnings Performance
Quarter Adjusted Earnings Performance (millions of dollars except per share amounts) $1.40 60.0 $1.20 Major Drivers 50.0 $1.00 40.0 • Positive: EBITDA growth $0.80 30.0 $0.60 • Positive: lower interest rates 20.0 $0.40 • Negative: growth investment 10.0 $0.20 - $- 2019 2020 2021 2022 2023 2024 2025
Slide 13: Quarter Capital Expenditures
Quarter Capital Expenditures (millions of dollars except percentages) Q2-2025 Major project capex 25.3 • An unlevered, after-tax IRR of 15% or greater Other project capex 12.6 is expected on project capex generally from incremental production capacity and improved Project capex 37.9 operating effici
Slide 14: Capital Expenditures Trend
Capital Expenditures Trend (millions of dollars except percentages) 140.0 120.0 100.0 • Expect to spend an additional $108 million 80.0 on approved major project capex over the 60.0 next four quarters 40.0 20.0 0.0 Project Capex (LHS) ~$950 million of project capital investments between 2022 and Q2-
Slide 15: Liquidity
Liquidity (millions of dollars except ratios) 1,020.0 5.5 920.0 5.0 820.0 4.5 • Mid-term targeted senior debt to 720.0 4.0 EBITDA ratio – 2.5:1 to 3.0:1 620.0 3.5 • Mid-term targeted total debt to EBITDA 520.0 3.0 ratio – 3.5:1 to 4.0:1 420.0 2.5 • Convertible debentures make up the difference betwe
Slide 16: Free Cash Flow
Free Cash Flow (millions of dollars except per share amounts and percentages) $1,173 million in declared dividends since first dividend in July 2005 $8.00 320.0 $7.00 280.0 $6.00 240.0 10.5-year FCF per share CAGR of 8.1% 200.0 $5.00 10.5-year FCF CAGR of 15.6% 160.0 $4.00 10.5-year dividend CAGR of
Slide 17: The Future of Food is in the Past
16 The Future of Food is in the Past 16 16