Waste Connections — Feb 12, 2025 release

dollars, except where noted) ​ ​ Reconciliation of Adjusted EBITDA: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2025 Outlook ​ ​ Low Estimate ​ ​ High Estimate ​ ​ Observation Net income attributable to Waste Connections $ 1,186,000 ​ $ 1,224,000 ​ ​ ​ Plus: Income tax provision ​ 374,000 ​ ​ 386,000 ​ ​ Approximate 24.0% effective rate Plus: Interest expense, net ​ 290,000 ​ ​ 310,000 ​ ​ ​ Plus: Depreciation and Depletion ​ 1,040,000 ​ ​ 1,045,000 ​ ​ Approximately 10.9% - 11.0% of revenue Plus: Amortization ​ 185,000 ​ ​ 190,000 ​ ​ Approximately 2.0% of revenue Plus: Closure and post-closure accretion ​ 45,000 ​ ​ 45,000 ​ ​ ​ Adjusted EBITDA $ 3,120,000 ​ $ 3,200,000 ​ ​ Approximately 33.0% - 33.3% of revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reconciliation of Adjusted Free Cash Flow: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2025 Outlook ​ ​ Low Estimate ​ ​ High Estimate Net cash provided by operating activities $ 2,500,000 ​ $ 2,575,000 Less: Capital expenditures ​ (1,200,000) ​ ​ (1,225,000) Adjusted Free Cash Flow $ 1,300,000 ​ $ 1,350,000 ​ ​ ​ ​ ​ ​ ​ 12