Mr. Tom Harrington reports

PRIMO WATER RELEASES 2022 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

Primo Water Corp. today released its 2022 environmental, social and governance (ESG) report.

"We are pleased to present our 2022 ESG report, highlighting our ESG priorities, objectives and achievements," said Tom Harrington, Primo Water's chief executive officer. "Our portfolio of sustainable water solutions drastically reduces plastic waste through our reusable bottles, refill and exchange services. With our ESG report we will continue to formalize our accountability and actions towards ESG and offer updates on our progress," said Mr. Harrington.

Highlights from the 2022 ESG report include:

• Appointing a vice-president of ESG who is responsible for supporting and co-ordinating management's ESG process and activities.
• Achieving CarbonNeutral company certification for our global operations in accordance with the CarbonNeutral protocol, the leading global framework for carbon neutrality.
• Continuously investing in a low-carbon fleet, adding 70 propane trucks.
• Implementing automatic route optimization (ARO), reducing 416,000 miles in six months, equivalent to about 700 mt of CO2 (carbon dioxide).
• Completing energy efficiency projects, saving 754,876 kWh (kilowatt-hours), or about 535 mt of CO2e.
• Joining The Water Council's WAVE: Water Stewardship Verified program, an independent certification process for water stewardship reporting and verification.
• Completing the company's third year of HR strategy rollout, focusing on improving the recruitment, onboarding and exit process.
• Finalizing the exit from the company's single-use retail plastic bottle business across the company's North American operations, eliminating about 22 million kilograms of single-use high-density polyethylene (HDPE) plastic annually from the company's portfolio of drinking water solutions.
• Continued greenhouse gas (GHG) emissions reduction performance, reducing the company's emissions by 5 per cent.
• Improved water inventory data collection efforts, achieving 100-per-cent primary data for plants and 96 per cent company-wide, an improvement of 6.3 per cent and 68 per cent respectively.
• Donating over $1-million between product donations, direct dollar giving and proceeds from targeted production sales.

The 2022 ESG report represents Primo Water's third ESG report, covering fiscal year 2022, from Jan. 1, 2022, to Dec. 31, 2022, unless otherwise stated. The 2022 ESG report covers Primo Water's operations in the United States, Canada, Europe and Israel. The reporting content is aligned to the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB) non-alcoholic beverages and appliance manufacturing industry standards, and the United Nations Sustainable Goals (SDGs).

About Primo Water Corp.

Primo Water is a leading pure-play water solutions provider in North America and Europe and generated approximately $2.2-billion in annual revenue in 2022. Primo Water operates largely under a recurring revenue model in the large format water category (defined as three gallons or greater). This business strategy is commonly referred to as razor-razor blade because the initial sale of a product creates a base of users who frequently purchase complementary consumable products. The razor in Primo Water's revenue model is its industry leading lineup of innovative water dispensers, which are sold through approximately 10,000 retail locations and on-line at various price points. The dispensers help increase household and business penetration which drives recurring purchases of Primo Water's razor blade offering or water solutions. Primo Water's razor blade offering comprises water direct, water exchange and water refill. Through its water direct business, Primo Water delivers sustainable hydration solutions across its 21-country footprint direct to customers, whether at home or to businesses. Through its water exchange business, customers visit retail locations and purchase a prefilled bottle of water. Once consumed, empty bottles are exchanged at the company's recycling centre displays, which provide a ticket that offers a discount toward the purchase of a new bottle. Water exchange is available in approximately 17,500 retail locations. Through its water refill business, customers refill empty bottles at approximately 23,500 self-service refill drinking water machines. Primo Water also offers water filtration units across its 21-country footprint.

Primo Water's water solutions expand consumer access to purified, spring and mineral water to promote a healthier, more sustainable lifestyle while simultaneously reducing plastic waste and pollution. Primo Water is committed to its water stewardship standards and is proud to partner with the International Bottled Water Association (IBWA) in North America as well as with Watercoolers Europe (WE), which ensure strict adherence to safety, quality, sanitation and regulatory standards for the benefit of consumer protection.