Premium Brands Holdings Corporation Reports Record Second Quarter Sales And Adjusted Ebitda And Declares Third Quarter Dividend

VANCOUVER, B.C., August 8, 2024. Premium Brands Holdings Corporation (TSX: PBH), a leading producer, marketer and distributor of branded specialty food products, announced today its results for the second quarter of 2024.

SECOND QUARTER HIGHLIGHTS

• Record second quarter revenue of $1.70 billion representing a 4.4%, or $71.8 million, increase as compared to the second quarter of 2023
• Solid progress on Specialty Foods’ core U.S. growth initiatives in sandwiches, protein and baked goods, which for the quarter generated an organic volume growth rate of 12.9% and total sales of $661.4 million
• Record second quarter adjusted EBITDA¹ of $164.6 million representing an 8.0%, or $12.2 million, increase as compared to the second quarter of 2023
• 7% adjusted EBITDA margin, up from 9.3% in the second quarter of 2023
• Specialty Foods’ adjusted EBITDA margin continues to normalize reaching 10.5% for the quarter, a 40-basis point improvement as compared to the second quarter of 2023
• Second quarter adjusted EPS¹ of $1.28 per share representing a 0.8%, or $0.01 per share, increase as compared to the second quarter of 2023
• Declared a dividend of $0.85 per common share for the third quarter of 2024
• The Company reports its financial results in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board. 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 second 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: 19190) 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 September 8, 2024 at (289) 819-1325 or (888) 660-6264 (passcode: 19190#). Alternatively, a recording of the conference call will be available at the Company’s website at www.premiumbrandsholdings.com.

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