Company: PRMB
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001193125-25-012325
Chunk: 295

Company: Primo Brands Corp
Filing Date: 2025-01-24
Form: S-1
Chunk 295
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 post-retirement medical benefit plan for former executives (“executive medical insurance plan”). Cash settlement of the executive medical insurance plan was triggered due to the
change in control resulting from the NWNA acquisition. As of the NWNA acquisition date, the amount owed to each participant was fully vested and related to past services. The Company recorded $149.0 million of expense within acquisition,
integration and restructuring expenses for the period from January 1, 2021 through March 31, 2021 (Predecessor) for the executive medical insurance plan. The Company settled its obligation through lump sum payouts to each participant in
April 2021. There are no remaining liabilities related to the executive post-retirement medical benefit plan.

F-39

Non-ExecutiveMedical Prior to the Company’s acquisition of NWNA, NWNA provided a post-retirement medical benefit plan for former employees (“non-executivemedical insurance plan”). As part of the NWNA acquisition, the Company assumed this liability. Post acquisition the plan is frozen and all participants are fully vested. Therefore, the non-executivemedical insurance plan is closed to new entrants and ceased accruing benefits. The Company recognizes the funded status of its non-executivemedical insurance plans, measured as the difference between the fair value of the plan assets and the projected benefit obligation. Benefit obligation balances reflect the accumulated post-retirement benefit obligations for the Company’s non-executivemedical benefit plans. There were no related plan assets as of December 31, 2023 or 2022 (Successor). Total benefits paid for the year ended December 31, 2023 and 2022 (Successor) was $0.7 million and $0.5 million, respectively. Total benefits paid for the period from February 3, 2021 through December 31, 2021 (Successor) and the period from January 1, 2021 through March 31, 2021 (Predecessor) was $0.5 million and $0.2 million, respectively. The following table presents the amounts recognized in the Consolidated Financial Statements, and the assumptions used to estimate the actuarial present value of benefit obligations at December 31, 2023 and 2022 (in millions) (Successor):

| Accumulated Postretirement Benefit Obligation       |     | December 31, 
 2023         |      |   |     | 2022 |      |   |
|:----------------------------------------------------|