Premium Brands Holdings Corporation Announces the Exercise of the Over-Allotment Option Issued in Connection with its Recently Completed $150 Million Public Offering of 5.50% Convertible Unsecured Subordinated Debentures

Vancouver, B.C., March 20, 2025. Premium Brands Holdings Corporation (“Premium Brands” or the “Company”) (TSX:PBH), a leading producer, marketer and distributor of branded specialty food products, is pleased to announce that, pursuant to the underwriting agreement dated March 7, 2025 between the Company and a syndicate of underwriters which was co-led by CIBC Capital Markets, National Bank Financial Inc., BMO Capital Markets and Scotiabank, and included Desjardins Securities Inc., Raymond James Ltd., RBC Dominion Securities Inc., TD Securities Inc., Canaccord Genuity Corp., Cormark Securities Inc., Stifel Nicolaus Canada Inc. and Ventum Capital Markets (collectively, the “Underwriters”), the Underwriters have exercised their option to purchase an additional $22,500,000 aggregate principal amount of 5.50% convertible unsecured subordinated debentures. The closing of the over-allotment option is expected to be completed on March 25, 2025.

The Company intends to use the net proceeds from the closing of the over-allotment option to temporarily reduce existing indebtedness under one of its revolving credit facilities (the “Credit Facility”), thereby increasing the amount available to be drawn under such Credit Facility, as required, to partially fund the payout of its 4.65% convertible unsecured debentures, due April 30, 2025 (including accrued but unpaid interest thereon).

About Premium Brands

Premium Brands owns a broad range of leading specialty food manufacturing and differentiated food distribution businesses with operations across Canada, the United States and Italy.

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