Company: PRMB
Filing Date: 2025-03-07
Form Type: 424B3
Source: 0001193125-25-049851
Chunk: 48

Company: Primo Brands Corp
Filing Date: 2025-03-07
Form: 424B3
Chunk 48
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 aligning management’s interests with those of our long-termstockholders in the sustained growth of stockholder value. For Mr. Rietbroek, the Compensation Committee will recommend to the Board such “target” bonus opportunities, which are generally expected to be based on market competitiveness, Mr. Rietbroek’s expected impact in his role within Primo Brands, and Mr. Rietbroek’s expected long-termcontributions. Such annual performance goals will be reviewed and approved by the Board. Company Performance Targets applicable to Primo Water with respect to fiscal 2024 Performance bonus eligibility for legacy Primo Water employees in 2024 will be determined based on achieving certain corporate targets and on aggregated accountability for each named executive officer to grow the business and stockholder value. For 2024, the performance bonus of each of our named executive officers other than with respect to Mr. Austin and Ms. Kim, will be calculated based on achievement of a specified level of Bonus-AdjustedEBITDA, Bonus-Adjustedoperating free cash flow and Bonus-Adjustedrevenue, weighted 50%, 25% and 25%, respectively. For Primo Water’s performance bonus purposes, (i) “Bonus-AdjustedEBITDA” is GAAP earnings before interest, taxes, depreciation, and amortization, (ii) “Bonus-Adjustedoperating free cash flow” is GAAP net cash 28

provided by operating activities, less capital expenditures, and (iii) “Bonus-Adjustedrevenue” is GAAP revenue, each as adjusted to exclude the impact of discontinued operations, foreign exchange rates, tuck-inand disposition transactions not included in the target, acquisition, integration and restructuring charges, share-based compensation, loss on disposal of property, plant and equipment and other transactions identified as unusual or not ordinary in nature, and as a result, they may not correspond to the reported measures used in Primo Brands’ other disclosures or filings. The Compensation Committee may approve adjustments to reflect events in the prior period (including the Transaction) and/or the results achieved during the applicable performance period to account for items not indicative of underlying performance. Individual adjustments may have positive or negative impact, and aggregate adjustments may increase or decrease incentive payouts. No such adjustments were implemented in respect of bonuses for 2024. The Primo Water performance bonuses for 2024 were eligible to be paid at “threshold”, “target” and “outperform” levels. Performance bonuses may be paid if the actual result for certain of the metrics is less than the applicable