Company: PRMB
Filing Date: 2025-02-07
Form Type: S-1/A
Source: 0001193125-25-022806
Chunk: 375

Company: Primo Brands Corp
Filing Date: 2025-02-07
Form: S-1/A
Chunk 375
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8 | ) |     |                   |     — |   |     |        |   (22.4 | ) |
| Common shares issued—Equity Incentive Plan        |     |                |   1,064 |   |     |        |    14.8 |   |     |                 | (10.2 | ) |     |              |     — |   |     |                   |     — |   |     |        |     4.6 |   |
| Common shares issued—Dividend Reinvestment Plan   |     |                |       1 |   |     |        |       — |   |     |                 |     — |   |     |              |     — |   |     |                   |     — |   |     |        |       — |   |
| Common shares issued—Employee Stock Purchase Plan |     |                |      90 |   |     |        |     1.3 |   |     |                 |  (0.2 | ) |     |              |     — |   |     |                   |     — |   |     |        |     1.1 |   |
| Balance at September 30, 2023                     |     |                | 159,408 |   |     | $      | 1,285.7 |   |     | $               |  87.6 |   |     | $            |   3.7 |   |     | $                 | (86.3 | ) |     | $      | 1,290.7 |   |

The accompanying notes are an integral part of these consolidated financial statements. F-121

Primo Water Corporation

Notes to the Consolidated Financial Statements

Unaudited

Note 1—Business and Recent
Accounting Pronouncements

Description of Business

As used herein, “Primo,” “the Company,” “our Company,” “Primo Water Corporation,” “us,” or
“our” refers to Primo Water Corporation, together with its consolidated subsidiaries.

Primo is a leading North America-focused
pure-play water solutions provider that operates largely under a recurring revenue model in the large format water category (defined as 3 gallons or greater). This business strategy is commonly referred to as
“razor-razorblade” because the initial sale of a product creates a base of users who frequently purchase complementary consumable products. The razor in Primo’s revenue model is its industry