Company: PRMB
Filing Date: 2025-02-07
Form Type: S-1/A
Source: 0001193125-25-022806
Chunk: 163

Company: Primo Brands Corp
Filing Date: 2025-02-07
Form: S-1/A
Chunk 163
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4, Primo Water entered into the Third Amendment to the Primo Water Credit Agreement, which provides an exception to
the restricted payments covenant for a one-time special dividend in conjunction with the Transaction.

Issuer Purchases of Equity Securities

Common Share Repurchase Programs

On August 9, 2023, the Primo Water board of directors approved a share repurchase program for up to $50.0 million of its outstanding
common shares. Upon the closing of the European Divestiture on December 29, 2023, an incremental $25.0 million share repurchase was authorized, revising the total share repurchase authorization to $75.0 million. For the nine months
ended September 28, 2024 and during the fiscal year ended December 30, 2023, respectively, Primo Water purchased 932,896 and 131,409 common shares, respectively, for approximately $15.9 million and $1.9 million, respectively,
through open market transactions under this repurchase plan.

On August 9, 2022, the Primo Water board of directors approved a share
repurchase program for up to $100.0 million of Primo Water’s outstanding common shares over a 12-month period that expired on August 14, 2023. During the fiscal year ended December 30,
2023, Primo Water repurchased 1,272,612 common shares for approximately $19.0 million through open market transactions under this repurchase plan. During the fiscal year ended December 31, 2022, Primo Water repurchased 1,753,479 common
shares for $23.8 million through open market transactions under this repurchase plan.

On May 4, 2021, the Primo Water board of
directors approved a share repurchase program for up to $50.0 million of Primo Water’s outstanding common shares over a 12-month period that expired on May 10, 2022. Primo Water repurchased
2,646,831 common shares for $43.5 million through open market transactions under this repurchase plan, all in the fiscal year ended January 1, 2022.

Shares purchased under these repurchase plans were subsequently canceled. In light of the Transaction, Primo Water has paused its share
repurchase program.

Tax Withholding

During the three months ended September 28, 2024 and September 30, 2023, an aggregate of 2,747 common