Company: PRMB
Filing Date: 2025-02-07
Form Type: S-1/A
Source: 0001193125-25-022806
Chunk: 85

Company: Primo Brands Corp
Filing Date: 2025-02-07
Form: S-1/A
Chunk 85
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 change materially based on the receipt of more detailed information. Therefore, the actual allocations may differ from the pro forma adjustments presented.

| (f) | To reflect the payment of $132.7 million of estimated                                                                                                                                                                                 
 non-recurring incremental transaction costs of BlueTriton, including advisory, printing, legal and accounting services that are not recorded as of September 30, 2024, as an increase to accumulated                                  
 deficit. This estimate may change as additional information becomes known. The Transaction is not expected to have a recurring impact. Costs of $22.3 million have been accrued in the historical financial statements of BlueTriton. |

| (g) | Reflects a one-time special dividend to holders of BlueTriton Shares      
 immediately prior to the Closing in an aggregate amount of $65.9 million. |

| (h) | Reflects a one-time special dividend to holders of Primo Shares                                                                                
 immediately prior to the Closing in an aggregate amount of $131.5 million, which does not include accrued dividends on unvested equity awards. |

| (i) | Reflects the conversion of all BlueTriton Shares issued and outstanding immediately prior to the Transaction                          
 into 154,105,789 Class A common stock and 64,512,579 Class B common stock, with a corresponding entry in accumulated paid-in capital. |

51

The pro forma notes and adjustments, based on preliminary estimates that could change materially as additional information is obtained, are as follows: Pro Forma Notes

Pro Forma Transaction Accounting Adjustments

| (c) | BlueTriton capitalizes commission expenses that are incremental costs to obtaining customer contracts. Contract                                                                                                                                        
 acquisition costs are generally recognized over a period of 12 months. As Primo Water expenses these costs over 4 years, this adjustment reflects the net change in the amount of deferred costs amortized during the period to conform to BlueTriton. |

| (d) | BlueTriton expenses costs for returnable bottles as incurred. As Primo Water capitalizes these costs in                                           
 property, plant and equipment, this adjustment reflects the net change in the amount of cost of sales during the period to conform to BlueTriton. |

| (e) | BlueTriton records storage and handling expenses in cost of sales. As Primo Water has an accounting policy to                                                                                                 
 record certain shipping and handling costs incurred to deliver products to the end-user consumer in selling, general and administrative expenses, this adjustment reflects