An anonymous director reports

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

Pursuant to the underwriting agreement dated March 7, 2025, between Premium Brands Holdings Corp. 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, the underwriters have exercised their option to purchase an additional $22.5-million aggregate principal amount of 5.50 per cent convertible unsecured subordinated debentures. The closing of the overallotment option is expected to be completed on March 25, 2025.

The company intends to use the net proceeds from the closing of the overallotment option to temporarily reduce existing indebtedness under one of its revolving credit facilities, thereby increasing the amount available to be drawn under such credit facility, as required, to partially finance the payout of its 4.65 per cent convertible unsecured debentures due April 30, 2025 (including accrued but unpaid interest thereon).

About Premium Brands Holdings Corp.

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.

We seek Safe Harbor.