Company: PRMB
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001193125-25-012325
Chunk: 84

Company: Primo Brands Corp
Filing Date: 2025-01-24
Form: S-1
Chunk 84
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. 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 the reclassification from selling, 
 general and administrative expenses to cost of sales to conform Primo Water’s accounting policy to that of BlueTriton.                                                                                        |

| (f) | To reflect reclassifications to provide a consistent classification and presentation to BlueTriton’s 
 financial statement presentation.                                                                    |

| (g) | To reflect BlueTriton’s estimated incremental advisory, legal, accounting, and other professional fees of                                                                                                                                  
 $132.7 million related to the Transaction. This estimate may change as additional information becomes known. Primo Water’s incremental advisory, legal, accounting, and other professional fees not included in the Transaction Accounting 
 Adjustments are estimated at $68.0 million.                                                                                                                                                                                                |

| (h) | To reflect the incremental amortization of identifiable intangible assets acquired in the Transaction (see note 
 3(e)).                                                                                                          |

| (i) | To reflect income tax related to the pro forma adjustments using a blended statutory rate inclusive of U.S. 
 federal and state taxes.                                                                                    |

| 6. | Pro forma earnings (loss) per share |

For purposes of the unaudited pro forma condensed combined financial information, the pro forma earnings per share figures have been calculated using the pro forma weighted average number of Class A common stock and Class B common stock which would have been outstanding for the year ended December 31, 2023 and for the nine months ended September 30, 2024, assuming the completion of the Transaction on January 1, 2023. 53

Pro forma basic earnings (loss) per share is calculated by dividing pro forma net income (loss) by the pro forma weighted-average number of Class A common stock and Class B common stock outstanding during the periods presented. Pro forma diluted earnings (loss) per share is calculated by dividing pro forma net income (loss) by the pro forma weighted-average number of Class A common stock and Class B common stock outstanding adjusted to include the effect, if dilutive, of the exercise of in-the-moneystock options, performance-based RSUs, and time-based RSUs during the periods presented. The components of pro forma basic and diluted earnings (loss) per share are as follows:

|                                                                                   | (in millions, except share and per share amounts) |   |  Nine months ended 
 September