Le Lézard
Subject: Proxy/Proxy Vote

Legion Partners Releases Presentation Outlining Case for Change at Primo Water Corporation


Legion Partners Asset Management, LLC (together with its affiliates, "Legion Partners" or "we"), which collectively with the other participants in its solicitation beneficially owns approximately 1.5% of the outstanding common shares of Primo Water Corporation (TSX/NYSE: PRMW) ("Primo" or the "Company"), today released an investor presentation detailing its case for change at the Company.

Legion Partners encourages shareowners to vote on the WHITE universal proxy card today for its director nominees, Timothy Hasara and Derek Lewis, and against Proposal 5, which seeks to approve unfriendly shareowner amendments to the Company's advance notice bylaws. Shareowners can visit www.PurifyThePrimoBoard.com for more information.

The presentation underscores the urgent need for change to Primo's Board of Directors (the "Board") by highlighting the Company's:

"We believe Primo's opportunities in the hydration market have never been stronger ? but the right Board is needed to capitalize on that potential. Unfortunately, rather than bringing in the expertise needed for the Company to flourish, Primo's Board has become a sinecure for ex-CEOs and long-tenured directors who lack the necessary skillset to improve Primo's performance," said Chris Kiper and Ted White, Legion Partners' Managing Directors. "Our nominees will bring the necessary expertise to immediately put Primo on the right path, which we believe could result in a tripling of the share price over the next five years and EBITDA production of $630 million by fiscal 2027. We look forward to continuing to make our case to our fellow shareowners."

About Legion Partners

Legion Partners is an activist investment manager based in Los Angeles, CA, focused on U.S. small-cap companies. Legion Partners seeks to generate attractive long-term returns employing deep fundamental research, a concentrated portfolio and responsible, collaborative engagement as a catalyst for value creation. Founded in 2012, Legion Partners takes a value-driven approach to managing a high-conviction portfolio on behalf of sophisticated institutional and individual investors. Learn more at www.legionpartners.com.



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