Company: PRMB
Filing Date: 2025-02-07
Form Type: S-1/A
Source: 0001193125-25-022806
Chunk: 329

Company: Primo Brands Corp
Filing Date: 2025-02-07
Form: S-1/A
Chunk 329
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 |     | Level 3 |     |
| Financial Assets:                    |     |                   |      |     |         |      |     |         |      |     |         |     |
| Money market and mutual fund         
 investments(1)                       |     | $                 | 15.4 |     | $       | 15.4 |     | $       |    — |     | $       |   — |
| Split-dollar life insurance policies |     |                   | 27.5 |     |         |    — |     |         | 27.5 |     |         |   — |
|                                      |     | $                 | 42.9 |     | $       | 15.4 |     | $       | 27.5 |     | $       |   — |
| Financial Liabilities:               |     |                   |      |     |         |      |     |         |      |     |         |     |
| Commodity forwards                   |     | $                 |  3.6 |     | $       |    — |     | $       |    — |     | $       | 3.6 |

| (1) | Included within other non-current assets related to a.) rabbi trusts to         
 fund split-dollar life insurance premiums and b.) a deferred compensation plan. |

The Company’s money market and mutual fund investments are valued based on the daily market price for identical assets in active markets. The Company’s split-dollar life insurance policies are valued at cash surrender value based on the fair value of underlying investment. The Company had no transfer of assets to or from Level 3 instruments for any period presented. F-64

Commodity forwards and option contracts may be used from time to time to economically hedge against adverse
changes in commodity prices on certain items such as diesel fuel and petroleum-based products. The Company does not use commodity derivative instruments for trading or speculative purposes. Generally, the Company hedges a portion of its anticipated
consumption for periods of up to 24 months. The fair value is derived on a net basis, based on the price that would be paid/received to settle the contracts. The gross outstanding contracts of $9.3 million as of September 30, 2024,
consisted of $7.9 million recorded in accruals and other current liabilities and $1.4 million recorded in other non-current liabilities, respectively, in the Company’s condensed consolidated
balance sheet. The change in fair value is