Premium Brands Holdings Corporation Announces the Closing of the Over-Allotment Option Exercised in Connection with its Recently Completed $150 Million Public Offering of 5.50% Convertible Unsecured Subordinated Debentures

Press Release

Vancouver, B.C., March 25, 2025. Premium Brands Holdings Corporation (“Premium Brands” or the “Company”) (TSX:PBH), a leading producer, marketer and distributor of branded specialty food products, is pleased to announce the successful closing of the issue and sale of an additional $22,500,000 aggregate principal amount of 5.50% convertible unsecured subordinated debentures (the “Debentures”) pursuant to the exercise of the over-allotment option granted to the 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.

Together with the Debentures issued on March 19, 2025, Premium Brands will have issued a total of $172,500,000 aggregate principal amount of the Debentures.

The Company intends to use the net proceeds from the issuance of the Debentures (including the Debentures issued on the closing of the over-allotment option) to temporarily reduce existing indebtedness under one of its revolving credit facilities (the “Credit Facility”), thereby increasing the amount available to be drawn under such Credit Facility, as required, to partially fund the payout of its 4.65% convertible unsecured debentures, due April 30, 2025 (including accrued but unpaid interest thereon).

About Premium Brands

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.

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