Slide 1: First Quarter Conference Call
First Quarter Conference Call May 7, 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: Key Highlights for the Quarter
Key Highlights for the Quarter • Record 2026 first quarter sales and adjusted EBITDA • Specialty Food segment’s U.S. focused initiatives continued to generate strong growth with U.S. sales reaching $1.5 billion or 73% of Specialty Foods total sales • Declared quarterly dividend of $0.85 per share •
Slide 5: Major Capital Investments (FY2024-2025)
Major Capital Investments (FY2024-2025) BC AB SK QC MB ON NB ME NS WA MN PA NJ OH NV IL MO TN AZ OK NM MS GA TX Facility New facility, expansion or major project 4 The Future of Food is in the Past 4 4
Slide 6: 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 7: The Future of Food is in the Past
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Slide 8: The Future of Food is in the Past
7 The Future of Food is in the Past 7 7
Slide 9: The Future of Food is in the Past
8 The Future of Food is in the Past 8 8
Slide 10: Q1-2026 Financial Update
Q1-2026 Financial Update 9 The Future of Food is in the Past 9 9
Slide 11: First Quarter Sales
First Quarter Sales (millions of dollars except percentages) 2,500.0 35% 30% 2,000.0 Growth Drivers 25% • Organic volume growth – $94.5m or 5.7% 1,500.0 20% • Acquisitions – $280.5m • Selling price inflation – $58.5m 15% 1,000.0 Growth Challenges 10% • A stronger CAD relative to the USD – $28.4m 500
Slide 12: U.S. Sales Analysis
U.S. Sales Analysis (millions of dollars except percentages) Q1-2026 Bridge FX & Q1-26 Q1-25 Q1-24 Q1-25 Pricing Acquis OVG Q1-26 OVGR OVGR OVGR Core US growth initiatives: Protein Group 335.4 11.2 271.1 76.0 693.7 22.7% 10.0% 8.3% Custom Culinary Solutions (1) 393.1 (13.2) - (4.1) 375.8 (1.0%) 9.5%
Slide 13: First Quarter Adjusted EBITDA
First Quarter Adjusted EBITDA (millions of dollars except percentages) 180.0 12.0% 160.0 11.0% Major Drivers 140.0 • Acquisitions 10.0% • Organic sales volume growth 120.0 9.0% • Commodity cost recovery 100.0 • Plant efficiencies 8.0% 80.0 Major Challenges 7.0% • Overhead associated with new capacit
Slide 14: 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 15: Quarter Adjusted Earnings Performance
Quarter Adjusted Earnings Performance (millions of dollars except per share amounts) 45.0 $1.80 40.0 $1.60 35.0 Major Drivers $1.40 • EBITDA growth 30.0 $1.20 • Lower interest rates 25.0 $1.00 20.0 Major Challenges $0.80 • Growth investment related costs including 15.0 $0.60 lease expense, depreciat
Slide 16: Annual Revenue
Annual Revenue (millions of dollars except percentages) 10,000.0 70.0% 9,000.0 60.0% 8,000.0 7,000.0 50.0% 6,000.0 • 2026 guidance is $9.25 billion 40.0% to $9.55 billion 5,000.0 • 2018 to 2025 CAGR of 13.8% 30.0% 4,000.0 3,000.0 20.0% 2,000.0 10.0% 1,000.0 - 0.0% 2018 2019 2020 2021 2022 2023 2024
Slide 17: Annual Adjusted EBITDA
Annual Adjusted EBITDA (millions of dollars except percentages) 1,000.0 12.0% 900.0 11.0% 800.0 10.0% 700.0 • 2026 guidance is $870 million to $910 million 9.0% 600.0 • 2018 to 2025 CAGR of 13.3% 500.0 8.0% 400.0 7.0% 300.0 6.0% 200.0 5.0% 100.0 - 4.0% 2018 2019 2020 2021 2022 2023 2024 2025 2026P A
Slide 18: 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 19: 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 20: 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 21: The Future of Food is in the Past
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