Waste Connections — Jul 23, 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 to be approximately $9.450 billion;   - Net income is estimated to be approximately $1.140 billion, and adjusted EBITDA (b) is estimated to be approximately $3.120 billion, or about 33.0% of revenue; - Capital expenditures are estimated to be between $1.200 billion and $1.250 billion; and   - Net cash provided by operating activities is estimated to be between $2.483 billion and $2.533 billion, and adjusted free cash flow (b) is estimated to be approximately $1.300 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 ​ ​ ​ Q2 2025 Earnings Conference Call ​ Waste Connections will be hosting a conference call related to second quarter earnings on July 24 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” from the website menu. Alternatively, conference call p