Premium Brands Holdings Corporation Reports Record Fourth Quarter Sales And Adjusted Ebitda, Announces Acquisition And Declares First Quarter Dividend

VANCOUVER, B.C., March 21, 2025. Premium Brands Holdings Corporation (TSX: PBH), a leading producer, marketer and distributor of branded specialty food products, announced today its results for the fourth quarter of 2024.

FOURTH QUARTER HIGHLIGHTS

• Record fourth quarter revenue of $1.64 billion representing a 5.4%, or $84.4 million, increase as compared to the fourth quarter of 2023
• Solid progress on Specialty Foods’ core U.S. growth initiatives in protein and baked goods, which for the quarter generated organic volume growth rates of 21.9% and 22.4%, respectively. Specialty Foods’ sandwich sales were relatively flat as volume growth in the club store channel and higher selling prices were offset by consumer demand related challenges in the foodservice channel
• Record fourth quarter adjusted EBITDA1 of $148.7 million representing an 8.4%, or $11.5 million, increase as compared to the fourth quarter of 2023
• Fourth quarter adjusted EPS1 of $1.05 per share representing a 23.5%, or $0.20 per share, increase as compared to the fourth quarter of 2023
• 2025 sales and adjusted EBITDA1 guidance ranges of $7.2 billion to $7.4 billion, and $680 million to $700 million, respectively
• Declared a dividend of $0.85 per common share for the first quarter of 2025
• Subsequent to the quarter, completed the acquisition of Denmark Sausage, LLC

2024 HIGHLIGHTS

• Record revenue of $6.47 billion representing a 3.3%, or $209.5 million, increase as compared to 2023
• Record adjusted EBITDA1 of $593.7 million representing a 6.2%, or $34.6 million, increase as compared to 2023
• Adjusted EBITDA margin1 of 9.2%, up from 8.9% in 2023
• Adjusted EPS1 of $3.98 per share representing a 1.2%, or $0.05 per share, decrease as compared to 2023
• The Company reports its financial results in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (IFRS Standards). Adjusted EBITDA and adjusted EPS are non-IFRS financial measures. Reconciliations and explanations for all non-IFRS measures are included in the Non-IFRS Financial Measures section of this press release.

QUESTIONS AND ANSWERS SESSION

The Company will hold a Q&A session on its fourth quarter 2024 results today at 10:30 a.m. Vancouver time (1:30 p.m. Toronto time). Management’s pre-recorded remarks and an investor presentation that will be referenced on the conference call are available here or by navigating through the Company’s website at www.premiumbrandsholdings.com.

Access to the Q&A session may be obtained by calling the operator at (289) 514-5100 or (800) 717-1738 (Conference ID: 60180) up to ten minutes prior to the scheduled start time. For those who are unable to participate, a recording of the conference call will be available through to 11:59 p.m. Toronto time on April 21, 2025 at (289) 819-1325 or (888) 660-6264 (passcode: 60180#). Alternatively, a recording of the conference call will be available on the Company’s website at www.premiumbrandsholdings.com.

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