Material Agreement, Financial Obligation (Form 8-K)

On March 31, 2026 (the "Closing Date"), Primo Brands Corporation (the "Company") entered into an amendment (the "Fifth Amendment"), which amended that certain First Lien Credit Agreement, dated as of March 31, 2021 (as amended prior to the effectiveness of the Fifth Amendment, the "Existing Credit Agreement," and as further amended by the Fifth Amendment, the "Amended Credit Agreement"), by and among the Company, as the parent borrower, Triton Water Holdings, Inc. and Primo Water Holdings Inc., as borrowers (collectively, together with the Company, the "Borrowers"), the other guarantors party thereto, Morgan Stanley Senior Funding, Inc., as term loan administrative agent and collateral agent, and the other lenders party thereto.

The Fifth Amendment amended the Existing Credit Agreement to, among other things, refinance the Company's then-existing term loan (maturing in March 2028) with a new senior secured first lien term loan facility (the "Refinancing Term Facility") in an aggregate principal amount of $3,090 million (the "Refinancing Term Loans") and to make related changes to effect such refinancing. The Refinancing Term Facility will mature in March 2031 and will amortize in equal quarterly installments in an amount equal to 1.00% per annumof the principal amount. The proceeds of the Refinancing Term Facility were used to repay and refinance the existing term loans outstanding under the Existing Credit Agreement and to pay fees, commissions, costs, expenses, and other amounts related thereto.

The interest rate applicable to borrowings under the Refinancing Term Facility will be, at the Company's option, either (1) the base rate (which is the highest of (x) the overnight federal funds rate, plus 0.50%, (y) the prime rate on such day, and (z) the one-monthSecured Overnight Financing Rate ("SOFR") published on such date, plus 1.00%), plus an applicable margin, or (2) one-,three- or six-monthSOFR, plus an applicable margin. The applicable margin for SOFR loans under the Refinancing Term Facility will be 2.75%. The Refinancing Term Facility is subject to a SOFR floor of 0.50%.

The Fifth Amendment also includes a "soft call" provision under which, if a "Repricing Event" (as defined in the Amended Credit Agreement) with respect to the Refinancing Term Loans occurs prior to the six-month anniversary of the Closing Date, the Borrowers must pay a 1.00% prepayment premium on the principal amount subject to such Repricing Event, including amounts affected by an amendment or by mandatory assignment of non-consentinglenders pursuant to "yank-a-bank" provisions.

All other material terms of the Amended Credit Agreement remain the same as the Existing Credit Agreement.

The foregoing description of the Fifth Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Fifth Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report, and is incorporated by reference herein.

The information set forth in Item 1.01 of this Current Report is incorporated into this Item 2.03 by reference.