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PREMIUM BRANDS HOLDINGS CORPORATION REPORTS FIRST QUARTER 2021 RESULTS AND DECLARES SECOND QUARTER DIVIDEND VANCOUVER , B.C. , May 6 , 2021. Premium Brands Holdings Corporation ( TSX : PBH ) , a leading producer , marketer and distributor of branded specialty food products , announced today its results for the first quarter of 2021 . HIGHLIGHTS • • • • • • First quarter record revenue of $ 1.0 billion representing an 8.0 % , or $ 74.8 million , increase as compared to the first quarter of 2020 Organic volume growth of 2.7 % , or 7.6 % after excluding the estimated impact of the pandemic on the Company's sales in the foodservice , airline and cruise line channels Record first quarter adjusted EBITDA of $ 82.5 million representing a 28.3 % , or $ 18.2 million , increase as compared to the first quarter of 2020 Record first quarter adjusted EPS of $ 0.72 per share as compared to $ 0.53 per share in the first quarter of 2020 During the quarter , the Company completed the acquisitions of a 50 % interest in Clearwater Seafood and 100 % interests in Starboard Seafood , Distribution Côte - Nord and Confederation Freezers resulting in $ 637.3 million of capital being allocated Great progress was made in introducing Clearwater Seafood into the PB Ecosystem . This , along with improving demand in the Asian and U.S. foodservice markets , were key drivers of the solid improvement in its year over year results , including a 940 basis points increase in its gross profit margin CONFERENCE CALL The Company will hold a conference call to discuss its first quarter 2021 results on Thursday , May 6 , 2021 at 10:30 a.m. PST ( 1:30 p.m. EST ) . An investor presentation that will be referenced on the conference call is available here or the Company's website at http://www.premiumbrandsholdings.com . on Access to the call may be obtained by calling the operator at ( 833 ) 300-9218 / ( 647 ) 689-4551 ( Conference ID : 5298429 ) up to ten minutes prior to the scheduled start time . For those who are unable to participate , a recording of the conference call will be available through to 8:59 p.m. PST on May 20 , 2021 at ( 855 ) 859-2056 / ( 404 ) 537-3406 ( passcode : 5298429 ) . Alternatively , a recording of the conference call will be available at the Company's website at http://www.premiumbrandsholdings.com .