Slide 1: Annual General Meeting
Annual General Meeting May 6, 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 $6.5b $7.5b $9.25b - $9.55b Adjusted EBITDA $14.1m $307.7m $593.7m $672.2m $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
Our Vision 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 5 The Future of Food is in the Past 5 5
Slide 6: Share Price Index
Share Price Closing Share Accumulated Date Price Dividends Per Share Dec 31, 2003 $8.60 Nil May 5, 2026 $82.91 $38.28 4500.00 8.00 2004 to May 5, 2026 CAGR = 16.5% 4000.00 7.00 3500.00 6.00 3000.00 5.00 2500.00 Index 4.00 2000.00 3.00 1500.00 2.00 1000.00 500.00 1.00 0.00 0.00 PBH share value (LHS)
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: Premium Brands Evolution Over Time
Premium Brands Evolution Over Time 2025: C$7.5 bn ~37x Revenue Growth Since 2004 2024: 2025 C$6.5 bn ⚫ Completed the acquisition of Stampede 2022 – 2024 Culinary Partners, Inc. 2021: and sale of Shaw Bakers C$4.9 bn ⚫ ~C$830 million is in early 2026 invested in expanding the capacity and ⚫ 5 major c
Slide 10: 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 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: 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 – 44.0% Beef & Pork USA – 46.3% ICELAND Other – 9.7% Cod, Salmon, DENMARK Plaice,
Slide 13: 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 14: 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 15: 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 16: Highly Experienced And Proven Management Team
Highly Experienced And Proven Management Team Joe Mannara George Paleologou Will Kalutycz Steve Sposari President of Concord President, CEO and CFO Managing Director Premium Meats Director 32 years Experience 49 years experience 32 years experience 38 years experience Sven Freybe Paul Roach Irv Tepe
Slide 17: The Future of Food is in the Past
17 The Future of Food is in the Past 17
Slide 18: The Future of Food is in the Past
18 The Future of Food is in the Past 18
Slide 19: The Future of Food is in the Past
19 The Future of Food is in the Past 19
Slide 20: The Future of Food is in the Past
20 The Future of Food is in the Past 20 20
Slide 21: Financial Update
Financial Update The Future of Food is in the Past 21
Slide 22: 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 23: 2025 Growth Drivers
2025 Growth Drivers (millions of dollars except percentages) Total 2024 revenue 6,470.5 Acquisitions 298.5 Price inflation 197.7 Exchange impact 47.4 Organic volume growth 463.1 Organic volume growth rate 7.2% Represents an organic volume Core specialty food U.S. growth initiatives 369.5 growth rate
Slide 24: 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 25: 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 2025 CAGR of 8.2% $4.00 • 2023 to 2025 earnings heavily 150.0 impacted by recent growth- related investment: $3.00 • Plant overhead 100.0 • Depreciation $2.00 • Lease e
Slide 26: Project Capital Expenditures
Project Capital Expenditures (millions of dollars) 140.0 120.0 100.0 • Project capex are expected to generate an unlevered, after-tax IRR of 15% or greater 80.0 • Expect to spend an additional $67 million on 60.0 approved major project capex over the next four quarters 40.0 20.0 0.0 Once the remaini
Slide 27: 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 28: 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 29: 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 2025 free cash flow CAGR $6.00 of 8.7% 240.0 • $1,293.8m in declared dividends $5.00 200.0 since July 2005 160.0 $4.00 • 2023 to 2025 steady state free cash flow heavily impac
Slide 30: Pro-forma Debt Ratio Analysis
Pro-forma Debt Ratio Analysis (millions of dollars except ratios) Q4-2025 Pro-forma Q1-2025 Q2-2025 Q3-2025 Q4-2025 Shaw Bakers Divestiture Senior debt-to-EBITDA ratio 3.4 : 1 3.3 : 1 3.4 : 1 3.2 : 1 2.9 : 1 Total debt-to-EBITDA ratio 4.6 : 1 4.2 : 1 4.3 : 1 4.3 : 1 4.1 : 1 Targeting to achieve 3.0
Slide 31: Questions
Questions The Future of Food is in the Past 31