Waste Connections — Feb 12, 2025 release

Securities and Exchange Commission and the securities commissions or similar regulatory authorities in Canada. Certain components of the outlook for 2025 are subject to quarterly fluctuations.  See reconciliations in the attached tables. ​ - Revenue is estimated between $9.450 billion and $9.600 billion; - Net income is estimated between $1.186 billion and $1.224 billion; - Adjusted EBITDA (b) margin is estimated between 33.0% and 33.3% of revenue, up 50 to 80 basis points year over year; - Net cash provided by operating activities is estimated between $2.500 billion and $2.575 billion; - Capital expenditures are estimated to be between $1.200 billion and $1.225 billion, including $100 million to $150 million for RNG facilities; and - Adjusted free cash flow (b) is estimated between $1.300 billion and $1.350 billion.   ​ ​ ​ ​ ​ ​ ​ ​ ​ ---------------------------------------------------------------------------------------------------------------------------------------------------- (a) All references to "Net income" refer to the financial statement line item "Net income attributable to Waste Connections". (b) A non-GAAP measure; see accompanying Non-GAAP Reconciliation Schedule. 2 ​ ​ Q4 2024 Earnings Conference Call ​ Waste Connections will be hosting a conference call related to fourth quarter earnings on February 13 th at 8:30 A.M. Eastern Time.  A live audio webcast of the conference call can be accessed by visiting investors.wasteconnections.com and selecting “News & Events