Company: PRMB
Filing Date: 2025-02-07
Form Type: S-1/A
Source: 0001193125-25-022806
Chunk: 314

Company: Primo Brands Corp
Filing Date: 2025-02-07
Form: S-1/A
Chunk 314
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:|:----|:--|-----:|:----|:--|-----:|:----|:--|-----:|:----|:--|-----:|
| Unconditional purchase obligations |     | $ | 70.3 |     | $ | 26.9 |     | $ | 17.8 |     | $ | 10.1 |     | $ |  8.3 |

F-45

The Company had $45.2 million of letters of credit outstanding at December 31, 2023.

NOTE 21—RELATED PARTY TRANSACTIONS

Investors, and
their associated management, in the Company’s sole shareholder, Triton Water Parent Holdings, LLC., provide various advisory services. In exchange for these services, the Company pays management fees to the related parties. Additionally, the
Company has supply agreements with related parties.

For the years ended December 31, 2023 and 2022 (Successor), the Company recorded expenses of
$17.8 million and $13.0 million, respectively, associated with management fees and associated costs, which were recorded in selling, general and administrative expenses. For the period from February 3, 2021 through December 31,
2021 (Successor), the Company recorded an expense of $6.8 million for management fees and associated costs, which were recorded in selling, general and administrative expenses and $2.5 million were recorded in acquisition and restructuring
expenses. Additionally, the Company recorded associated $3.4 million and $0.6 million prepaid assets at December 31, 2023 and 2022 (Successor), respectively, and the Company recorded an associated $0.2 million payable at
December 31, 2022 (Successor).

For the year ended December 31, 2023 (Successor), the Company purchased $4.7 million of raw materials used
in the production process from a related party which were recorded as a component of cost of goods sold. Additionally, the Company recorded an associated $1.5 million payable related to the unpaid portion of those purchases at December 31,
2023 (Successor).

The Company reimbursed $40.7 million to related parties upon closing of the NWNA acquisition, of which $22.7 million was
expensed as incurred within acquisition and restructuring expenses, $13.1 million was recorded as equity issuance costs and $4.9 million was recorded as debt issuance costs.

NOTE