Slide 1: Fourth Quarter Conference Call
Fourth Quarter Conference Call March 19, 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, 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 • Record 2025 annual and fourth quarter sales and adjusted EBITDA • U.S. focused growth initiatives continue to gain momentum • Executed the single largest new product launch in the Company’s history • Issued 2026 sales and adjusted EBITDA guidance • Declared quarterly
Slide 5: 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 6: The Future of Food is in the Past
5 The Future of Food is in the Past 5 5
Slide 7: 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 6 The Future of Food is in the Past 6 6
Slide 8: Ready Prepared Foods
Ready Prepared Foods Auburn, ME Hempler Foods Group - Ferndale, WA Buddy’s Kitchen Lakeville, MN Raybern’s Shannon, MS National Steak Processors - Owasso, OK SK Food Group Columbus, OH 7 The Future of Food is in the Past 7 7
Slide 9: Stampede Culinary Partners
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 8 The Future of Food is in the Past 8 8
Slide 10: Q4-2025 Financial Update
Q4-2025 Financial Update 9 The Future of Food is in the Past 9 9
Slide 11: Fourth Quarter Sales
Fourth Quarter Sales (millions of dollars except percentages) 2,000.0 50% 1,800.0 40% Growth Drivers 1,600.0 • Organic volume growth – $151.3m or 9.2% 1,400.0 30% • Acquisitions – $75.7m 1,200.0 • Selling price inflation – $39.3m 1,000.0 20% Growth Challenges 800.0 10% • A weaker CAD relative to the
Slide 12: US Sales Analysis
US Sales Analysis (millions of dollars except percentages) Q4-2025 Bridge FX & Q4-25 2025 2024 Q4-24 Pricing Acquis OVG Q4-25 OVGR OVGR OVGR Core US growth initiatives: Protein Group 259.7 7.1 75.0 52.2 394.0 20.1% 16.8% 11.4% Sandwich Group 356.2 (6.2) - 44.6 394.6 12.5% 10.0% 3.3% Bakery Group 32.
Slide 13: Fourth Quarter Adjusted EBITDA
Fourth Quarter Adjusted EBITDA (millions of dollars except percentages) 200.0 12.0% 180.0 11.0% Major Drivers 160.0 10.0% • Organic sales volume growth 140.0 • Reduced discretionary compensation 9.0% 120.0 Major Challenges 100.0 8.0% • Overhead associated with new capacity and 80.0 additional produc
Slide 14: 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 15: Start-Up and Restructuring Cost Analysis
Start-Up and Restructuring Cost Analysis (millions of dollars) 5.5 2.2 Ferndale plant expansion startup 2.1 1.6 0.7 San Leandro new plant startup Projects are all completed 2.5 1.5 New cooked lines startup 0.4 4.5 4.5 2.9 4.3 4.8 Project is expected to be Piller’s plant reconfiguration 1.6 completed
Slide 16: Fourth Quarter Adjusted Earnings
Fourth Quarter Adjusted Earnings (millions of dollars except per share amounts) 70.0 $1.80 60.0 $1.60 Major Drivers $1.40 • EBITDA growth 50.0 $1.20 • Lower interest rates 40.0 Major Challenges $1.00 • Growth investment related costs 30.0 $0.80 including lease expense, depreciation and interest $0.6
Slide 17: 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% • 2026 guidance is $9.25 billion to $9.55 billion after 6,000.0 40.0% reflecting the sale of Shaw Bakers 5,000.0 30.0% • 2018 to 2025 CAGR – 13.8% 4,000.0 3,000.0 20.0% 2,000.0 10.0% 1,000.0 -
Slide 18: Annual EBITDA
Annual EBITDA (millions of dollars except percentages) 1,000.0 11.0% 900.0 10.0% 800.0 700.0 9.0% • 2025 guidance is $870 million to $910 million after reflecting the 600.0 sale of Shaw Bakers 8.0% 500.0 • 2018 to 2025 CAGR – 13.3% 7.0% • Targeted mid-term annual 400.0 adjusted EBITDA margin – 10% 3
Slide 19: Annual Adjusted Earnings and EPS
Annual Adjusted Earnings and EPS (millions of dollars except per share amounts) 250.0 $6.00 $5.00 200.0 • Adjusted earnings 2018 to $4.00 2025 CAGR – 8.2% 150.0 • Adjusted EPS 2018 to 2025 $3.00 CAGR – 3.4% 100.0 • 2023 to 2025 earnings heavily impacted by recent growth- $2.00 related investment, i.
Slide 20: Capital Expenditures
Capital Expenditures (millions of dollars except percentages) Q4-2025 2025 Major project capex 21.3 100.8 • An unlevered, after-tax IRR of 15% or greater is expected on project capex Other project capex 15.4 58.7 generally from incremental Project capex 36.7 159.5 production capacity and improved Ma
Slide 21: Project Capital Expenditures
Project Capital Expenditures (millions of dollars except percentages) 140.0 120.0 100.0 • Expect to spend an additional $67 million on 80.0 approved major project capex over the next three quarters 60.0 • Over $1.0 billion has been invested in project 40.0 capex since 2022 creating ~$1.6 billion of
Slide 22: Liquidity
Liquidity (millions of dollars except ratios) 5.5 5.0 4.5 4.0 • Mid-term targeted senior debt to EBITDA ratio – 2.5:1 to 3.0:1 3.5 • Mid-term targeted total debt to EBITDA 3.0 ratio – 3.5:1 to 4.0:1 2.5 • Long-term targeted total debt to EBITDA ratio 3.0:1 or better 2.0 • Convertible debentures make
Slide 23: Free Cash Flow
Free Cash Flow (millions of dollars except per share amounts and percentages) $8.00 320.0 $7.00 • 2018 to 2025 free cash flow CAGR 280.0 of 8.7% $6.00 240.0 • 2018 to 2025 free cash flow per share CAGR of 3.8% $5.00 200.0 • $1,249.5m in declared dividends 160.0 $4.00 since July 2005 $3.00 • 2023 to
Slide 24: The Future of Food is in the Past
24 The Future of Food is in the Past 24 24