Mr. George Paleologou reports

PREMIUM BRANDS HOLDINGS CORPORATION ANNOUNCES FILING OF FINAL SHORT FORM PROSPECTUS IN CONNECTION WITH $150 MILLION FINANCING OF CONVERTIBLE UNSECURED SUBORDINATED DEBENTURES

In connection with the previously announced bought deal financing co-led by CIBC Capital Markets, National Bank Financial, BMO Capital Markets and Scotiabank on behalf of a syndicate of underwriters, Premium Brands Holdings Corp. has filed a final short form prospectus dated March 14, 2025, with the securities regulatory authorities in each of the provinces and territories of Canada and has obtained a receipt therefor.

The final prospectus qualifies the distribution of $150-million aggregate principal amount of convertible unsecured debentures at a price of $1,000 per debenture. The company has also granted the underwriters an overallotment option to purchase up to an additional $22.5-million aggregate principal amount of debentures, on the same terms, exercisable in whole or in part at any time for a period of up to 30 days following closing of the offering, to cover overallotments, if any. If the overallotment option is exercised in full, the total gross proceeds to be raised under the offering will be $172.5-million. The debentures will be convertible at the holder's option at any time prior to the close of business on the earlier of March 31, 2030, and the business day immediately preceding the date specified by the company for redemption of the debentures into common shares of the company at a conversion price of $126.15 per common share, being a conversion rate of 7.9271 common shares for each $1,000 principal amount of debentures.

Closing of the offering is expected to occur on or about March 19, 2025. The offering is subject to normal regulatory approvals, including approval of the Toronto Stock Exchange.

Access to the final prospectus and any amendment thereto is provided in accordance with securities legislation relating to procedures for providing access to a prospectus and any amendment. The final prospectus is accessible on SEDAR+. An electronic or paper copy of the final prospectus and any amendment may be obtained, without charge, from CIBC Capital Markets, 161 Bay St., fifth floor, Toronto, Ont., M5J 2S8, or by telephone at 416-956-6378 or by e-mail at mailbox.canadianprospectus@cibc.com by providing the contact with an e-mail address or address, as applicable. Prospective investors should read the final prospectus in its entirety before making an investment decision.

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 and the United States.

We seek Safe Harbor.