WM — Oct 27, 2025 release

      2025 Outlook   The Company is confident in its ability to deliver upon its full-year outlook ranges for adjusted operating EBITDA and free cash flow.   · The Company is affirming its adjusted operating EBITDA guidance of between $7.475 and $7.625 billion. (a)     · Free cash flow guidance remains between $2.8 and $2.9 billion. (a)     · Total Company revenue is now expected to be approximately $25.275 billion, which is at the low end of the Company’s prior guidance range. The decrease from prior expectations is primarily related to a further decline in recycled commodity pricing as well as modestly lower revenue expectations from WM Healthcare Solutions. (h)     · Projected adjusted operating EBITDA margin guidance has increased to between 29.6% and 30.2% from between 29.6% and 29.9% . (a)           Fish concluded, “We are pleased with our results in the first three quarters of the year across our business segments, which position us to deliver another year of double-digit adjusted operating EBITDA growth with record margin in our Collection and Disposal business and expanding free cash flow conversion. Looking ahead, 2026 is setting up to be a year of outsized free cash flow growth, with results expected to approach $3.8 billion next year. Our disciplined approach to capital allocation remains unchanged, and we are committed to translating this performance into strong sharehol