Premium Brands Holdings Corporation Provides Clarification Regarding Upcoming Annual Meeting

Appendix D of the Management Information Circular sets out the text of three shareholder proposals, one of which was withdrawn and two of which will be put to the shareholders of the Company for consideration at the Meeting – Proposal #1, in respect of the proposed adoption of an "overboarding" policy for the Company's directors, and Proposal #2, in respect of the proposed disclosure of the percentage of pork produced by the Company using group sow housing (collectively, the "Shareholder Proposals"). Appendix D of the Management Information Circular also sets out the Board's responses to the Shareholder Proposals, and the recommendation that shareholders vote against both Proposal #1 and Proposal #2.

The Company wishes to clarify that the form of Proxy included in the Meeting Materials includes a single spot for shareholders to VOTE FOR or to VOTE AGAINST the Shareholder Proposals. Accordingly, a VOTE FOR the Shareholder Proposals will be counted as an affirmative vote for both Proposal #1 and Proposal #2; conversely, a VOTE AGAINST the Shareholder Proposals will be counted as a negative vote against both Proposal #1 and Proposal #2.  Shareholders who are in favor of either Shareholder Proposal are encouraged to vote for both.