ANNUAL GENERAL MEETINGMay 10, 2019

2The Long Game

Disclaimer

This presentation is not, and nothing in it should be construed as, an offer, invitation or recommendation in respect of the securitiesof Premium Brands Holdings Corporation (the “Company”), or an offer, invitation or recommendation to sell, or a solicitation of anoffer to buy, any of the Company’s securities in any jurisdiction. Neither this presentation nor anything in it shall form the basis of anycontract or commitment. This presentation is not intended to be relied upon as advice to investors or potential investors and does nottake into account the investment objectives, financial situation or needs of any investor. All investors should consider such factors inconsultation with a professional advisor of their choosing when deciding if an investment is appropriate.

Forward Looking Statements

The Company has prepared this presentation based on information available to it. No representation or warranty, express or implied,is provided in relation to the fairness, accuracy, correctness, completeness or reliability of the information, opinions or conclusionsexpressed herein.

This presentation contains forward looking statements with respect to Premium Brands Holdings Corporation (the “Company”),including its business operations, strategy and financial performance and condition. While management believes that theexpectations reflected in such forward looking statements are reasonable and represent the Company’s internal expectations andbelief as of the date of this presentation, such statements involve unknown risks and uncertainties beyond the Company’s controlwhich may cause its actual performance and results in future periods to differ materially from any estimates or projections of futureperformance or results expressed or implied by such forward looking statements. Forward looking statements generally can beidentified by the use of the words “may”, “could”, “should”, “would”, “will”, “expect”, “intend”, “plan”, “estimate”, “project”, “anticipate”,“believe” or “continue”, or the negative thereof or similar variations.

There are a number of factors that could cause actual results to differ materially from the Company’s expectations as outlined in thispresentation.

Unless otherwise indicated, the forward looking information in this presentation is made as of the date of this presentation and,except as required by applicable law, will not be publicly updated or revised. This cautionary statement expressly qualifies theforward looking information in this presentation.

2

3The Long Game

2018 MESSAGE TO SHAREHOLDERS:“The Long Game”

4The Long Game

Company Profile

2004 Current

Revenue $0.2 billion $3.2 billion (1)

EBITDA $14.1 million $263.2 million (1)

Business platforms 2 6

Geographic reach Western Canada North America

Operating facilities 8 59

Employees 900 9,250

Free cash flow per share (1) $0.78 $4.99

Annualized dividend rate $ nil $2.10 / share

Cumulative dividends $ nil $420.6 million

Share price $9.75 $81.64

(1) Trailing twelve months ending Mar 30, 2019

5The Long Game

Our Vision

To invest in specialty food businesses featuring:

Entrepreneurial cultures

Great tasting foods made with wholesome ingredients

A passion for both their local communities and what is best for our planet

6The Long Game

Share Price

Date Closing SharePrice

AccumulatedDividends Per Share

Dec 31, 2003 $8.60 Nil

May 3, 2019 $81.64 $18.28

0

1

2

3

4

5

6

0.00

500.00

1000.00

1500.00

2000.00

2500.00

3000.00

3500.00

4000.00

Premium Brands (LHS) S&P/TSX Composite Index - Total Return (LHS) TTM FCF/Share (RHS)

2003 to May 3, 2019 CAGR = 23.1%

7The Long Game

Core Business Strategies

Business Strategy Benefits

Support and development of entrepreneurial cultures • Decentralized management structure• Efficient and dynamic decision making• Tremendous source of innovation• Product / market expertise

Specialty food products • Leading regional brands• Product differentiation / authenticity

Premium (specialty) food distribution • Service and/or product differentiation

Leadership in identifying and capitalizing on current and emerging consumer trends

• Generally inherent in an entrepreneurial culture• “Go to where the puck is going to be”

Core values of differentiation and innovation • Applies to all areas of every business• Branded strategies used wherever possible

Diversification across businesses, products, commodities, customers, market segments, and geography

• Mitigates exposure to any single business risk• Allows for longer term payback horizons while balancing the public market’s

focus on short term earnings• Big fish in many small ponds strategy

State-of-the-art production facilities • Mitigates food safety risks• Efficient but not necessarily big• Focus on batch processing vs high volume throughput (value vs cost)

8The Long Game

Guiding Principles

Authenticity

Giving back to the community

Respect for the environment

Corporate humility

Animal welfare

Resilience

Disciplined capital allocation(15% minimum IRR)

Long-term outlook

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• Access to capital• Disciplined capital allocation• Global and strategic procurement

• Buying power• Internal selling opportunities• Peer network• IT expertise• Acquisition expertise• Information sharing among businesses:

• Innovation• Leadership• Best practices• Customer / market intelligence and access• Procurement• Production solutions• Food safety

• Marketing resources / brand development• Social media• Financial and business analysis

Leveraging the PB Ecosystem

Helping good specialtyfood businesses become larger great specialty food businesses

10The Long Game

Product and Commodity Diversification

Commodity Purchases % Sales

Beef $759.6 21.9%

Seafood $479.1 13.8%

Pork $398.2 11.5%

Poultry $162.8 4.7%

Bread $97.5m 2.8%

Freight costs $74.7m 2.2%

Cheese $62.6 1.8%

Turkey $52.1m 1.5%

Corrugated $37.8m 1.1%

Energy costs $20.3m 0.6%

Lamb $21.1m 0.6%

Flour $6.1m 0.2%

Fuel $4.6m 0.1%

Popcorn $1.9m 0.1%

Seafood, 13.8%

Protein, 17.7%

Others, 1.8%

Protein, 43.6%

Sandwiches, 21.1%

Baked goods, 1.3%Others, 0.7%

Specialty Foods (66.7%) Premium Foods Distribution (33.3%)

11The Long Game

Geographical Diversification

2018

Region Sales % Sales

Canada $1,916.3m 63.3%

U.S. $1,059.4m 35.0%

Export $50.1m 1.7%

$3,025.8m 100.0%

Represents regions in which PBH has one or more operating facilities

12The Long Game

2005 2006 2007 2008 2009 2010 2011 2013 2014 2015 2016 2017 2018 2019

$28.2m $7.7m $91.8m $16.7m $3.1m $67.3m $121.8m $63.7m $8.1m $51.9m $244.0m $246.2m $753.0m $47.2m

Harlan Fairbanks

HygaardFine Foods

Hempler’s

Bread Garden

Gloria’s Fresh

Centen-nialFood-service

Stuyver’sBake Studio

B&C Foods

Noble House

Mrs. Willman’s

SJ Fine Foods

Multi-National Foods

Maximum Seafood

SK Food Group

Duso’s

Hub City Fisheries

Wescadia

Piller’s

Deli Chef

SJ Fine Foods

Freybe

McLean’s

Made-Rite

OceanMiracle

ReddiFoods

Expresco

Isernio’s

SJ Fine Foods

C&C Packing / Premier Meats

Belmont

Island City / Conte

Fletcher’s

Larosa

Diana’sSeafood

Raybern

Buddy’s Kitchen

Lead-better

Skilcor

Inter-provincialMeat Sales

Shaw Bakers

Partners

Ravens-Bergen

Oberto

Concord

CountryPrime Meats

TMF

FrandonSeafood

Penguin

McLean’s

Select Foods

YorkshireValley Farms

Ready Seafood

L-Walker

Mavros

VSM Brands Inc.

Acquisitions Activity

Total amount invested from 2005 to 2018 is $1.7 billion in 55 transactions

13The Long Game

Distribution Platform

2005 2007 2008 2009 2010 2012 2014 2016 2017 2018

AcquiredHarlan

Fairbanks

AcquiredCentennial

AcquiredB&C FoodDistributors

AcquiredMulti-

NationalFoods

AcquiredWescadia

Expanded Centennial’s

Calgaryoperation

AcquiredReddi Foods

AcquiredC&C

Packing

AcquiredPremierMeats

AcquiredRavensbergen

Acquired IMS

CentennialentersOntariomarket

AcquiredMavros

2019

AcquiredFrandonSeafood

AcquiredPenguin

Meat Supply

14The Long Game

Distribution Platform

C&C PackingFacility

Expansion

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Protein Platform

1997 1998 1999 2004 2006 2011 2012 2013 2014 2015 2016 2017 2018

AcquiredGrimm’s

FineFoods

AcquiredMcSweeney’s

AcquiredHarvestMeats

FirstHarvest

plantexpansion

SecondHarvest

plantexpansion

AcquiredMade-Rite

andconstructednew plant

AcquiredHempler’s

andconstructednew plant

AcquiredSJ FineFoods

AcquiredPiller’s

FirstHempler’s

plantexpansion

Invested inMcLean’s

AcquiredFreybe

RationalizedFreybe and

Grimm’splants

SecondHempler’s

plantExpansion

ThirdHarvest

plantexpansion

AcquiredExpresco

AcquiredIsernio’s

AcquiredBelmontMeats

AcquiredFletcher’s

U.S.

AcquiredSkilcor

AcquiredLeadbetter

Acquired Oberto

Acquired Concord

Premium Meats

Acquired CountryPrime Meats

Acquired The Meat Factory

Acquired Yorkshire

Valley Farms

Increasedinvestmentin Mclean’s

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Protein Platform

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Protein Platform

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Protein Platform

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Protein Platform

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Protein Platform

Concord Premium Meats

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Protein Platform

Yorkshire Valley Farms

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Protein Platform

Belmont MeatsPURE Veggie Burger Line

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Sandwich Platform

AcquiredRationalized Buddy’s

Qualityand Hygaard Acquired

plants Raybern’s

Acquired Acquired Acquired Acquired Constructed Constructed Constructed AcquiredQuality Hygaard SK Food Les Aliments new Deli Chef new 180,000 sf new 212,000 s Select

Fast Foods Fine Foods Group Deli Chef sandwich sandwich plant sandwich plant Foodsplant in Columbus, OH in Phoenix, AZ

1999 2004 2010 2011 2012 2013 2017 2018

24The Long Game

Sandwich Platform

SK Food GroupStovers Kitchen Fresh Packs

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Culinary Platform

AcquiredCreekside

AcquiredDuso’s

AcquiredGourmet Chef

AcquiredConte Foods

AcquiredLarosa Fine

Foods

Invested inPartnersCrackers

2006 2010 2013 2016 2017

26The Long Game

Culinary Platform

Gourmet ChefProtein Bites

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Bakery Platform

AcquiredStuyver’s

ConstructedStuyver’s newstate-of-the-artartisan bakery

AcquiredIsland City

Baking

Invested inShaw Bakers

2012 2016 20172007

28The Long Game

Bakery Platform

Stuyver’s BreadCiabatta Toscana & Fresh Baked Loaves

Shaw BakersCroissant Toast

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AcquiredHub CityFisheries

AcquiredMaximumSeafood

AcquiredOceanMiracle

AcquiredDiana’sSeafood

Constructionof new

105,000 sfON facility

AcquiredReady

Seafood

2014 2016 2017 20182010

Seafood Platform

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Seafood Platform

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Seafood Platform

Ready SeafoodNew Facility

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2018FINANCIAL OVERVIEW

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33The Long Game

2018 Financial Performance

• Record sales – up 37.6% to $3.0 billion

• Record EBITDA – up 32.1% to $251.3 million

• Record adjusted EPS – up 12.3% to $3.74 per share

• Record free cash flow per share – up 15.2% to $5.08 per share

• Increased our dividend 13.1% to an annual rate of $1.90 per share

• Subsequent to the year further increased our dividend by 10.5% to $2.10 per share

34The Long Game

535.2

794.3 960.1 1,043.0

1,221.8

1,484.5

1,857.5

2,198.3

3,025.8 3,217.6

3,690.0

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

-

500.0

1,000.0

1,500.0

2,000.0

2,500.0

3,000.0

3,500.0

4,000.0

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019TTM 2019P

Revenue (LHS) Growth rate (RHS) Organic Growth rate (RHS)

Long-term targeted growth rate (6% - 8%)

Revenue Trend (millions of dollars except percentages)

2010 to 2019TTM CAGR is 24.3%

35The Long Game

EBITDA Trend (millions of dollars except percentages)

42.0 54.9

66.8 69.3 77.6

111.6

154.8

190.2

251.3 263.2

320.0

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%

11.0%

12.0%

-

50.0

100.0

150.0

200.0

250.0

300.0

350.0

400.0

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019TTM 2019P

EBITDA (LHS) Margin (RHS)

• 2010 to 2019TTM CAGR is 24.9%• All amounts are Pre-IFRS 16

36The Long Game

$18.4 $21.2 $21.7 $23.5

$50.0

$75.4

$99.2

$121.3

$-

$0.50

$1.00

$1.50

$2.00

$2.50

$3.00

$3.50

$4.00

-

20.0

40.0

60.0

80.0

100.0

120.0

140.0

2011 2012 2013 2014 2015 2016 2017 2018

Adjusted Earnings ($millions) (LHS) Adjusted EPS (RHS)

Adjusted Earnings and EPS (millions of dollars except per share amounts)

2010 to 2018 CAGR is 26.6%

37The Long Game

Free Cash Flow (millions of dollars except per share amounts and percentages)

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019TTM 2019

Payout ratio 106.4% 77.7% 69.6% 70.6% 65.2% 59.4% 53.0% 53.9% 48.4% 43.2% 36.6% 38.5% 38.1% 39.2%

Dividend per share $1.18 $1.18 $1.18 $1.18 $1.18 $1.18 $1.18 $1.25 $1.25 $1.38 $1.52 $1.68 $1.90 $1.95 $2.10

Dividend increase - - - - - - - 6.3% - 10.4% 10.1% 10.5% 13.1% 2.6% 10.5%

$0.00

$1.00

$2.00

$3.00

$4.00

$5.00

$6.00

$7.00

$8.00

$9.00

-

20.0

40.0

60.0

80.0

100.0

120.0

140.0

160.0

180.0

200.0

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019TTM

Free Cash Flow (LHS) Dividend per share (RHS) Free Cash Flow per share (RHS)

• $420.6m in declared dividends since July 2005• 2006 to 2019TTM FCF CAGR is 20.4%

38The Long Game

Financial Health

• Completed a $172.7 million equity offering

• Completed a $172.5 million convertible debenture offering

• Increased our senior credit facility by $350 million to approximately $900 million

• Included in the S&P/TSX Canadian Dividends Aristocrats Index

39The Long Game

Liquidity (millions of dollars except ratios)

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

5.0

5.5

20.0

70.0

120.0

170.0

220.0

270.0

Available Credit ($millions) (LHS) Total Debt to EBITDA (RHS) Senior Debt to EBITDA (RHS)

Top end of targeted range for senior debt to EBITDA ratio

Targeted range for total debt to EBITDA ratio

40The Long Game

2018 Activities to Drive Future Value

• Invested $753.0 million in business acquisitions, including $609.7 million for 3 transformational transactions

• Invested $51.4 million in growth related capital projects

• Continued to build on our pipeline of acquisitions setting the stage for 2019 to be another exciting year

• Laid the ground work for over $135 million in new sales initiatives that were secured in early 2019

41The Long Game

70.7

145.2

32.687.7 70.6 77.7

278.2 304.1

809.6

10.0%

11.0%

12.0%

13.0%

14.0%

15.0%

16.0%

17.0%

18.0%

19.0%

0.0

100.0

200.0

300.0

400.0

500.0

600.0

700.0

800.0

900.0

2010 2011 2012 2013 2014 2015 2016 2017 2018

Investments RONA (RHS) Targeted 5 yr average 5 yr avg RONA

Investments (millions of dollars except percentages)

The minimum hurdle rate for all acquisitions and project capital expenditures is 15% after tax and before leverage

Long term targeted RONA of 15%

42The Long Game

Investments (millions of dollars except FCF per share)

$/share

70.7

145.2

32.687.7 70.6 77.7

278.2 304.1

809.6

0.0

1.0

2.0

3.0

4.0

5.0

6.0

2010 2011 2012 2013 2014 2015 2016 2017 20180.0

100.0

200.0

300.0

400.0

500.0

600.0

700.0

800.0

900.0

Investments FCF per share (LHS)

43The Long Game

Long Term Outlook (in millions of dollars except per share amounts and ratios)

Sales EBITDA FCF per Share Senior Debt to EBITDA Ratio

5 Year Sales Target

5 Year EBITDA target

Fiscal 2010 535.2 42.0 1.81 2.7 1,000.0 n/a

Fiscal 2014 1,221.8 77.6 2.60 2.7 2,000.0 n/a

Fiscal 2018 3,025.8 251.3 5.08 2.6 6,000.0 600.0

ANNUAL GENERAL MEETINGMay 10, 2019