Premium Brands Holdings Corporation to Raise $300 Million of New Capital to Fund Future Acquisitions and for General Corporate Purposes - Seite 2

The Company has granted the Underwriters (i) an over-allotment option (the “Share Over-Allotment Option”) to purchase additional Shares on the same terms, representing up to 15% of the size of the Share Offering, exercisable in whole or in part at any time for a period of up to 30 days following closing of the Share Offering, to cover over-allotments, if any, and (ii) an over-allotment option (the “Debenture Over-Allotment Option”) to purchase up to an additional $22.5 million aggregate principal amount of Debentures, on the same terms, exercisable in whole or in part at any time for a period of up to 30 days following closing of the Debenture Offering, to cover over-allotments, if any. CPP Investments has also been granted an option (the “Additional Subscription Option”) to purchase a number of additional common shares representing up to 15% of the number of shares subscribed by them, , such option to be exercised and closed not later than 45 days from the date hereof.  If each of the Share Over-Allotment Option, Debenture Over-Allotment Option and Additional Subscription Option is exercised in full, the Company will receive additional gross proceeds of $45 million, for aggregate gross proceeds from the Offerings and the Private Placement of $345 million.

“The successful completion of the Offerings and Private Placement will further strengthen our balance sheet as well as our ability to pursue our pipeline of acquisition opportunities. We are also very pleased with the continued support from our long-term partner CPP Investments,” commented George Paleologou, President and CEO of Premium Brands.

Closing of the Offerings is expected to occur on or about July 16, 2020. The Offerings are subject to normal regulatory approvals, including approval of the Toronto Stock Exchange.

The Shares and Debentures issued pursuant to the Offerings will be offered in each of the provinces and territories of Canada by way of a short form prospectus, and by way of private placement in the United States to "qualified institutional buyers" pursuant to Rule 144A or in such a manner as to not require registration under the United States Securities Act of 1933, as amended.

ABOUT PREMIUM BRANDS

Premium Brands owns a broad range of leading specialty food manufacturing and differentiated food distribution businesses with operations across Canada and the United States.

For further information, please contact George Paleologou, President and CEO or Will Kalutycz, CFO at [phone].

www.premiumbrandsholdings.com

The securities to be offered have not been and will not be registered under the United States Securities Act of 1933, as amended, or under any state securities laws, and may not be offered, sold, directly or indirectly, or delivered within the United States of America and its territories and possessions or to, or for the account or benefit of, United States persons except in certain transactions exempt from the registration requirements of such Act. This release does not constitute an offer to sell or a solicitation to buy such securities in the United States, Canada or in any other jurisdiction where such offer is unlawful.