Company: PRMB
Filing Date: 2025-02-07
Form Type: S-1/A
Source: 0001193125-25-022806
Chunk: 142

Company: Primo Brands Corp
Filing Date: 2025-02-07
Form: S-1/A
Chunk 142
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 in the relative costs of productive assets and the depreciation and amortization expense among companies. Primo Water also
utilizes adjusted EBITDA, which is EBITDA excluding acquisition and integration costs, share-based compensation costs, COVID-19 costs, impairment charges, foreign exchange and other (gains) losses, net, loss
on disposal of property, plant and equipment, net, loss on extinguishment of long-term debt, (gain) loss on sale of business, (gain) loss on sale of property, and other adjustments, net, as the case may be (for purposes of Primo Water in this
Management’s Discussion and Analysis of Financial Condition and Results of Operations, “Adjusted EBITDA”). Primo Water considers Adjusted EBITDA to be an indicator of its operating performance. Adjusted EBITDA excludes certain items
to make more meaningful period-over-period comparisons of Primo Water’s underlying operations before material charges.

Because Primo
Water uses these adjusted financial results in the management of its business and to understand underlying business performance, Primo Water believes this supplemental information is useful to investors for their independent evaluation and
understanding of its business performance and the performance of Primo Water’s management. The non-GAAP financial measures described above are in addition to, and not meant to be considered superior to,
or a substitute for, Primo Water’s financial statements prepared in accordance with GAAP. In addition, the non-GAAP financial measures included in this Management’s Discussion and Analysis of
Financial Condition and Results of Operations reflect Primo Water’s judgment of particular items, and may be different from, and therefore may not be comparable to, similarly titled measures reported by other companies.

89

The following table summarizes Primo Water’s EBITDA and Adjusted EBITDA for the three and nine months ended September 28, 2024 and September 30, 2023 and the fiscal years ended December 30, 2023, December 31, 2022, and January 1, 2022:

|                                                        |     | Three Months Ended | September 28, 
          2024 |     |                | September 30, 
          2023 |   |     | Nine Months Ended | September 28, 
          2024 |   |     |   | September 30, 
          2023 |   |     | For the Fiscal Year Ended | December 30, 
         2023 |   |     |   | December 31,