Republic Services — Feb 13, 2025 release

Please refer to the Reconciliation of 2025 Financial Guidance section of this document for detail relating to the computation of non-GAAP measures as well as the Information Regarding Forward-Looking Statements section of this document. Full-year 2025 financial guidance is as follows: • Revenue: Republic expects revenue to be in the range of $16.850 billion to $16.950 billion. The Company expects growth from average yield on total revenue to be approximately 4 percent and average yield on related revenue to be approximately 5 percent. The Company expects the impact from volume on total revenue to be in the range of (0.25) percent to 0.25 percent. • Adjusted EBITDA: Republic expects adjusted EBITDA to be in the range of $5.275 billion to $5.325 billion. 3 • Adjusted Diluted Earnings per Share: The Company expects adjusted diluted earnings per share to be in the range of $6.82 to $6.90. • Adjusted Free Cash Flow : Republic expects adjusted free cash flow to be in the range of $2.320 billion to $2.360 billion. The Company expects to receive between $1.860 billion to $1.900 billion of property and equipment, net of proceeds from the sale of property and equipment. • Acquisitions: Republic expects to invest approximately $1 billion in acquisitions in 2025. “We expect to deliver another strong year of profitable growth in 2025,” said Mr. Vander Ark. “Our outlook is supported by pricing in excess of cost inflation, continued contribution from acquisitions, productivity enhancements from our digital tools and investments in sustainability innovation to drive l