Slide 1: Investor Presentation June 2025
Investor Presentation June 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, strategy and financial performance and condition, acquisition opportunities, capital projects and plans, growth s
Slide 4: Company Profile
Company Profile 2004 2019 2024 TTM Revenue $0.2 billion $3.6 billion $6.5 billion $6.7 billion Adjusted EBITDA $14.1 million $307.7 million $593.7 million $609.2 million Business platforms 2 6 6 6 Geographic reach Western Canada North America North America North America Operating facilities
Slide 5: Our Vision: The Future of Food is in the Past
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 Long-term Trends Position Premium Brands Favorably f
Slide 6: Share Price
Share Price Closing Share Accumulated Date Price Dividends Per Share Dec 31, 2003 $8.60 Nil June 09, 2025 $80.28 $34.88 4500.00 7.00 2003 to June 9, 2025 CAGR = 16.8% 4000.00 6.00 3500.00 5.00 3000.00 Index 2500.00 4.00 2000.00 3.00 1500.00 2.00 1000.00 1.00 500.00 0.00 0.00 PBH share value (LHS) S&
Slide 7: Premium Brands: Entrepreneurship with Accountability
Premium Brands To provide talented proven entrepreneurs with the resources they need to transform their good food businesses into bigger great food businesses ENTREPRENEURSHIP with ACCOUNTABILITY Transformational Growth 7
Slide 8: Core Strategies
Core Strategies ⚫ Leading regional brands focused on authenticity and differentiation Highly Focused Capital Allocation ⚫ White space and long-term sustainable consumer trends – significant organic growth Platform Targeting Niche opportunities Segments in the Food Industry ⚫ Stronger pricing power ⚫
Slide 9: Premium Brands Snapshot 2004 – 2024
Premium Brands Snapshot 2004 – 2024 A diverse product portfolio with significant competitive advantages 2024 Revenue Segments Overview Highlights REVENUE CAGR (C$mm) ⚫ Meat sticks, cooked protein, charcuterie, European deli meats, specialty marinated ✓ #1 brand and largest manufacturer in many speci
Slide 10: Business Groups
Business Groups Seafood Distribution Protein Sandwich Bakery Culinary Canadian Seafood Group Centennial Group Oberto Group Sandwich Group PB Bakery Group Kettle Group • Medex Group • Worldsource • Hempler’s • Quality Fast Foods • Stuyver’s • Global Gourmet • Ocean Miracle • Eleven • Isernio’s • Hyga
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 it is manufactured; top-of- line product lines and irreplicable footprint of facilities, result of almost $860 million of recent investmen
Slide 13: Diversification – Channels and Customers
Diversification – Channels and Customers 2024: SF (66.2%) PFD (33.8%) Foodservice distributors, Others, 0.8% 4.9% Customer % Sales Trading, 2.3% ISR, 5.7% Chains and large Customer A 14.4% format retailers, Customer B 13.5% Foodservice operators, 6.5% 10.9% Customer C 5.2% Customer D 4.4% Foodservic
Slide 14: Diversification – Geographically
Diversification – Geographically 2024: SF (66.2%) PFD (33.8%) 2024: SF (60.8%) PFD including Clearwater (39.2%) Clearwater, 8.2% Export, 0.3% Export, 0.3% Canada, 25.6% Canada, 23.5% United States, 40.7% United States, United States, United States, 6.2% 37.3% 6.7% Export, 1.3% Export, 1.4% Canada, 2
Slide 15: Diversification – Products and Procured Commodities
Diversification – Products and Procured Commodities 2024: SF (66.2%) PFD (33.8%) Baked goods, 3.3% Others, 1.1% Commodity % Sales Sandwiches, 20.0% Seafood, 18.0% Seafood 16.2% Beef 15.4% Pork 8.6% Poultry 5.6% Protein, 13.8% Bread 3.4% Eggs 2.8% Cheese 1.8% Others, 2.0% Turkey 1.3% Protein, 41.7% T
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 (2024) Seafood Misc. Halibut, Plaice & Salmon GERMANY Canada – 51.2% Beef & Pork USA – 42.0% ICELAND Other – 6.8% Cod, Salmon, DENMARK Plaice,
Slide 17: Organic Growth Strategies
Organic Growth Strategies • On trend product categories • Emerging trends • History of demand exceeding supply • “Search for white space” • U.S. roll out strategy • Leading innovation in high growth categories • Differentiation • Brand development • Green shoots in new export markets • PB sponsored
Slide 18: Major Organic Growth Initiatives
Major Organic Growth Initiatives Seafood Distribution Protein Sandwich Bakery Culinary Processed lobster and crab Non-distributive foodservice Branded meat snack stick Leveraging IP and North Naturally fermented / clean Gusseted broth and soup initiatives in foodservice and sales of differentiated p
Slide 19: 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 20: Acquisitions Activity
Acquisitions Activity 2005 to 2010 to 2015 to 2017 2018 2019 2020 2021 2022 2023 2024 2025 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 Harlan Maximum Expresco Raybern Oberto Mavros Inform Clearwater Beechgrove McLean’s NSP Quality Denmar
Slide 21: 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 22: A Leader in Environmental, Social, Governance, and Food Safety Practices
A Leader in Environmental, Social, Governance, and Food Safety Practices 2024 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 m
Slide 23: Transformational Growth
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Slide 24: Transformational Growth
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Slide 25: Transformational Growth
Transformational Growth 25
Slide 26: Transformational Growth
Transformational Growth 26
Slide 27: Transformational Growth
LA BOULANGERIE TURKEY, PESTO & MOZZARELLA SANDWICH ON SUPER FLAKY™ CROISSANT formational Growth
Slide 28: Transformational Growth
2x 700g (1.4 kg) 2.x 700 g (1.4 kg)
Slide 29: Financial Update
Financial Update Transformational Growth 29
Slide 30: Revenue Trend
Revenue Trend (millions of dollars except percentages) Long-term targeted organic growth rate of 6% to 8% 8,000.0 10-year organic CAGR of 11.9% 7,000.0 6,000.0 10-year total CAGR of 18.1% 5,000.0 4,000.0 3,000.0 2,000.0 1,000.0 - 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 TTM 2025AG Reve
Slide 31: U.S. Market Sales Initiatives
U.S. Market Sales Initiatives (millions of dollars except percentages) 2024 Q1-2025 2024 2023 Q1-2025 2023 OVGR OVG OVG OVG OVGR OVGR Adjusted(1) Core U.S. sales initiatives: Protein Group 21.9 98.5 109.2 10.0% 11.4% 15.0% Sandwich Group 26.8 92.8 74.4 8.0% 6.9% 6.2% Bakery Group 9.1 23.6 14.3 33.6%
Slide 32: Adjusted EBITDA Trend
Adjusted EBITDA Trend (millions of dollars except percentages) Targeting EBITDA margin of 10%+ by 2026 700.0 11.0% 10-year CAGR of 22.6% (20.8% ex IFRS-16 impact) 600.0 10.0% 500.0 9.0% 400.0 8.0% 300.0 7.0% 200.0 6.0% 100.0 5.0% - 4.0% EBITDA (LHS) IFRS-16 impact (LHS) Margin (RHS) Transformational
Slide 33: 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 34: Adjusted Earnings and EPS
Adjusted Earnings and EPS (millions of dollars except per share amounts) Targeting record adjusted EPS in 2025 250.0 $6.00 $5.00 200.0 10.25-year adjusted EPS CAGR of 12.7% $4.00 150.0 $3.00 100.0 $2.00 50.0 $1.00 - $- Adjusted Earnings Reported (LHS) Adjusted EPS (RHS) Transformational Growth 34
Slide 35: Capital Expenditures
Capital Expenditures (millions of dollars except percentages) 399.7 400.0 364.8 350.0 • An unlevered, after-tax IRR of 15% or 300.0 greater is expected on project capex • Major project capex investments are 250.0 228.4 generally in additional production 353.7 capacity and, in many cases, improved 20
Slide 36: Liquidity
Liquidity (millions of dollars except ratios) 1,020.0 5.5 920.0 5.0 820.0 4.5 • Long-term targeted senior debt to 720.0 4.0 EBITDA ratio – 2.5:1 to 3.0:1 620.0 3.5 • Long-term targeted total debt to 520.0 3.0 EBITDA ratio – 3.5:1 to 4.0:1 420.0 2.5 • Convertible debentures make up the difference bet
Slide 37: Free Cash Flow
Free Cash Flow (millions of dollars except per share amounts and percentages) $1,135 million in declared dividends since first dividend in July 2005 $8.00 320.0 $7.00 280.0 $6.00 240.0 10.25-year FCF per share CAGR of 8.1% 200.0 $5.00 10.25-year FCF CAGR of 15.8% 160.0 $4.00 10.25-year dividend CAGR
Slide 38: Questions
Questions Transformational Growth 38