Company: PRMB
Filing Date: 2025-02-07
Form Type: S-1/A
Source: 0001193125-25-022806
Chunk: 95

Company: Primo Brands Corp
Filing Date: 2025-02-07
Form: S-1/A
Chunk 95
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2021 Successor Period” refers to the period from February 3, 2021 through December 31, 2021 and the “2021 Predecessor Period” refers to the period from January 1, 2021 through March 31, 2021.

Non-GAAPFinancial Measures

BlueTriton uses Adjusted EBITDA as an important performance metric for the company. In addition, Free Cash Flow is an important liquidity
metric that BlueTriton uses to evaluate its ability to make principal payments on its indebtedness and to fund its capital expenditures and working capital requirements. BlueTriton presents Adjusted EBITDA and Free Cash Flow because it believes
these measures are frequently used by analysts, investors, and other interested parties in the evaluation of companies in its industry.

Adjusted EBITDA and Free Cash Flow should be considered in addition to, and not as a substitute for or superior to, financial measures
calculated in accordance with GAAP. These are not measurements of BlueTriton’s financial performance under GAAP and should not be considered as alternatives to net income

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(loss) or any other performance measures derived in accordance with GAAP or as an alternative to net cash provided by operating activities as a measure of BlueTriton’s liquidity and may not be comparable to other similarly titled measures of other businesses. These non-GAAPmetrics may not be indicative of BlueTriton’s historical operating results, nor are such measures meant to be predictive of BlueTriton’s future results. In the future, BlueTriton may incur expenses similar to the adjustments noted herein to calculate Adjusted EBITDA and Free Cash Flow. However, the magnitude of such adjustments for the periods presented herein is not necessarily indicative of the magnitude of such adjustments in future periods. BlueTriton’s presentation of Adjusted EBITDA and Free Cash Flow should not be construed as an inference that future results of Primo Brands will be unaffected by unusual or non-recurringitems. Adjusted EBITDA and Free Cash Flow have limitations as analytical tools, and you should not consider these measures in isolation or as a substitute for analysis of BlueTriton’s operating results or cash flows as reported under GAAP. Some of these limitations include that:

| • |     | Adjusted EBITDA does not reflect BlueTriton’s cash used, or future requirements, for capital expenditures or 
 contractual commitments;                                                                                     |

| • |     | Adjusted EBITDA does not reflect changes