PREMIUM BRANDS HOLDINGS CORPORATION REPORTS RECORD FOURTH QUARTER SALES, ADJUSTED EBITDA, AND ADJUSTED EPS, ANNOUNCES THE SALE OF ITS INTEREST IN SHAW BAKERS, DECLARES FIRST QUARTER DIVIDEND AND APPOINTS NEW DIRECTOR TO ITS BOARD

Executive Summary

• Premium Brands reported record Q4 2025 results – revenue $1.9 bn (up 15.7%), adjusted EBITDA $179.5 m (up 20.7%) and adjusted EPS $1.29 (up 22.9%).
• Declared a first‑quarter 2026 cash dividend of $0.85 per share (payable 2026‑04‑15).
• Completed acquisition of Stampede Culinary Partners for $523.4 m cash plus equity/contingent consideration; issued 5,046,860 shares for $492.0 m gross proceeds.
• Signed definitive agreement to sell its 73.72% interest in Shaw Bakers; closing expected within 60 days.
• Increased revolving senior credit facility by US$300 m to ~$2.8 bn and extended maturity to 2030.
• Appointed John Hatherly as an independent non‑executive director effective 2026‑03‑01.

Key Details

• Financial Highlights (Q4 2025):
• Revenue: $1,897.1 m vs $1,639.1 m YoY.
• Adjusted EBITDA: $179.5 m vs $148.7 m YoY.
• Adjusted EPS: $1.29 vs $1.05 YoY.

• Free cash flow: $294.8 m (52‑week).

• 2026 Guidance (post‑Stampede, pre‑Shaw sale):

• Revenue: $9.25–$9.55 bn.

• Adjusted EBITDA: $870–$910 m.

• Acquisition of Stampede Culinary Partners (effective Jan 2 2026):

• Purchase price: $523.4 m cash + 2,208,805 common shares + up to US$100 m contingent consideration tied to profitability metrics (2026‑27).

• Concurrent equity issuance: 5,046,860 shares for gross proceeds of $492.0 m.

• Credit Facility Amendment (Mar 18 2026):

• Revolving senior credit facility increased by US$300 m to approximately US$2.8 bn.

• Maturity extended to Mar 18 2030.

• Shaw Bakers Divestiture:

• Definitive agreement signed Mar 18 2026 to sell 73.72% interest in Shaw Bakers LLC.

• Transaction subject to customary closing conditions; expected close within 60 days.

• Dividend Declaration:

• Cash dividend of $0.85 per common share for Q1 2026.

• Record date: Mar 31 2026; payable Apr 15 2026.

• Board Appointment:

• John Hatherly appointed independent non‑executive director, effective Mar 1 2026.

• Background: 40+ years in investments, founder of Wynnchurch Capital, former GE Capital executive.

• Operational Highlights:

• Specialty Foods organic volume growth 9.2% (U.S. initiatives 18.0%).
• Total U.S. sales (incl. acquisitions) $870.3 m, up $179.5 m YoY.

• Plant start‑up and restructuring costs Q4: $25.2 m (new product launch, new sandwich facility in Cleveland, TN, etc.).

• Equity Earnings – Associates:

• Clearwater Seafoods net loss of $(29.4) m for the quarter; details on asset sales and operational challenges disclosed.

Notable Quotes

“2025 was a transformative year…record results despite volatile beef costs.” – George Paleologou, President & CEO
“The acquisition of Stampede adds a high‑growth platform and excess cooking capacity to support our protein businesses.” – George Paleologou
“We are pleased to welcome John to our Board. His experience will be valuable as we execute growth strategies.” – Bruce Hodge, Chairman

Materiality: Material – Positive (record earnings, significant acquisition, dividend, credit facility increase, and strategic divestiture).