Company: PRMB
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001193125-25-012325
Chunk: 200

Company: Primo Brands Corp
Filing Date: 2025-01-24
Form: S-1
Chunk 200
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 account for items not indicative of underlying performance. Individual adjustments may have positive or negative impact, and in any given year, aggregate adjustments may
increase or decrease incentive payouts.

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

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the applicable “threshold” level; however, if the actual results for the Bonus-AdjustedEBITDA metric are below the “threshold” level, no performance bonuses are expected to be paid, subject to the discretion of the Board and the Compensation Committee to modify the performance bonus of our Chief Executive Officer and the other executive officers, respectively, based on accountability towards growth of the business and stockholder value. For 2024, our named executive officers who were legacy Primo Water 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 named executive officers other than Mr. Austin and Ms. Kim participated. Primo Water 2024 Performance Bonus Program Targets applicable to named executive officers ($ in millions)

|              |     | Corporate Pool     
 (enterprise level) |     |                |     |                |
|              |     | Bonus-Adjusted     
 EBITDA             
 50%                |     | Bonus-Adjusted 
 Operating Free 
 Cash Flow      
 25%            |     | Bonus-Adjusted 
 Revenue        
 25%            |
| “Threshold”  |     |                    |     |                |     |                |
| “Target”     |     |                    |     |                |     |                |
| “Outperform” |     |                    |     |                |     |                |
| Actual       |     |                    |     |                |     |                |

These metrics are interpolated on a straight-linebasis between the “threshold,” “target” and “outperform” performance levels, resulting in a payout percentage for each metric. Company performance is not yet determinable as