Company: PRMB
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001193125-25-012325
Chunk: 136

Company: Primo Brands Corp
Filing Date: 2025-01-24
Form: S-1
Chunk 136
---
 items to make period-over-period comparisons for its underlying operations before material charges.
Primo Water excludes these items to better understand trends in the business. Primo Water excludes the impact of foreign exchange to separate the impact of currency exchange rate changes from its results of operations.

Primo Water also utilizes EBITDA, which is GAAP net income (loss) before interest expense, net, expense (benefit) for income taxes, and
depreciation and amortization. Primo Water considers EBITDA to be an indicator of operating performance. Primo Water also uses EBITDA, as do analysts, lenders, investors, and others, because it excludes certain items that can vary widely across
different industries or among companies within the same industry. These differences can result in considerable variability in the relative costs of productive assets and the depreciation and amortization expense among companies. Primo Water also
utilizes adjusted EBITDA, which is EBITDA excluding acquisition and integration costs, share-based compensation costs, COVID-19 costs, impairment charges, foreign exchange and other (gains) losses, net, loss
on disposal of property, plant and equipment, net, loss on extinguishment of long-term debt, (gain) loss on sale of business, (gain) loss on sale of property, and other adjustments, net, as the case may be (for purposes of Primo Water in this
Management’s Discussion and Analysis of Financial Condition and Results of Operations, “Adjusted EBITDA”). Primo Water considers Adjusted EBITDA to be an indicator of its operating performance. Adjusted EBITDA excludes certain items
to make more meaningful period-over-period comparisons of Primo Water’s underlying operations before material charges.

Because Primo
Water uses these adjusted financial results in the management of its business and to understand underlying business performance, Primo Water believes this supplemental information is useful to investors for their independent evaluation and
understanding of its business performance and the performance of Primo Water’s management. The non-GAAP financial measures described above are in addition to, and not meant to be considered superior to,
or a substitute for, Primo Water’s financial statements prepared in accordance with GAAP. In addition, the non-GAAP financial measures included in this Management’s Discussion and Analysis of
Financial Condition and Results of Operations reflect Primo Water’s judgment of particular items, and may be different from, and therefore may not be comparable to, similarly titled measures reported by other companies.

88

The following table summarizes Primo Water’s