Company: PRMB
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001193125-25-012325
Chunk: 319

Company: Primo Brands Corp
Filing Date: 2025-01-24
Form: S-1
Chunk 319
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 30, 2024, the Company incurred expenses of $4.5 million and $18.6 million, respectively, which
were recorded as selling, general and administrative expenses. As of September 30, 2024 and December 31, 2023 the Company has prepaid $3.7 million and $3.4 million, respectively, which was recorded in prepaid expenses and other
current assets.

For the three and nine months ended September 30, 2024, the Company purchased $9.2 million and $24.2 million,
respectively, of raw materials used in the production process from a related party. Additionally, the Company

F-65

recorded a $2.0 million and $1.5 million payable related to purchases at September 30, 2024 and December 31, 2023, respectively, to that related party.

NOTE 16—SUBSEQUENT EVENTS

On November 5, 2024
the Company’s Board of Directors declared a dividend of $65.9 million to its sole shareholder, to be paid by November 8, 2024.

On
November 8, 2024, Company consummated the transactions contemplated by that certain Arrangement Agreement and Plan of Merger, dated as of June 16, 2024, as amended by that certain Amendment No. 1 thereto, dated as of October 1,
2024, by and among Primo Water Corporation, a company existing under the laws of Ontario, the Company, Primo Brands Corporation (formerly known as Triton US HoldCo, Inc.), a Delaware corporation and formerly a wholly owned subsidiary of the Company
(“Primo Brands”), Triton Merger Sub 1, Inc., formerly a wholly-owned subsidiary of the Company, and 1000922661 Ontario Inc., formerly a wholly-owned subsidiary of the Company. As such, effective November 8, 2024 the Company
merged with and into Primo Brands, with Primo Brands being the surviving entity in the merger.

F-66

Report of Independent Registered Public Accounting Firm

TotheBoard of Directors and Shareholders of Primo Water Corporation

Opinion on the Financial Statements

We have
audited the accompanying consolidatedbalance sheets of Primo Water Corporation and its subsidiaries (the “Company”) as of December 30, 2023 and December 31, 2022, and the related consolidated statements of operations, of
comprehensive income, of equity and