Company: PRMB
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0001140361-25-009675
Chunk: 62

Company: Primo Brands Corp
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 62
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 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

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applicable “threshold” level; however, if the actual results for the Bonus-Adjusted EBITDA metric are below the “threshold” level, the applicable NEOs would not have been entitled to any performance bonuses. For 2024, our NEOs who were Legacy Primo employees could earn a performance bonus of up to a maximum level of 200% of the target bonus amount based on achievement of goals at the “outperform” level. The target bonus award for 2024 for Mr. Rietbroek was 120% of annual base salary and for each of Mr. Hass and Ms. Poe was 75% of annual base salary. The following chart sets forth the threshold, target and outperform performance targets established by the compensation committee of Primo Water in December 2023 for the 2024 corporate bonus pool in which each of our NEOs other than Mr. Austin and Ms. Kim participated. Primo Water 2024 Performance Bonus Program Targets applicable to NEOs ($ in millions)

|              |     |     Corporate Pool 
 (enterprise level) |     |           |     |          |
|              |     |             Bonus- 
           Adjusted 
             EBITDA 
                50% |     |    Bonus- 
  Adjusted 
 Operating 
 Free Cash 
      Flow 
       25% |     |   Bonus- 
 Adjusted 
  Revenue 
      25% |
| “Threshold”  |     |             $375.0 |     |    $144.5 |     | $1,779.0 |
| “Target