Mr. Patrick Dovigi reports

GFL ENVIRONMENTAL INC. ANNOUNCES RENEWAL OF SHARE REPURCHASE PROGRAM

The Toronto Stock Exchange has accepted GFL Environmental Inc.'s notice of intention to renew its normal course issuer bid (NCIB) for the 12-month period commencing on May 12, 2023, and ending no later than May 11, 2024. The NCIB will be conducted through the facilities of the TSX and the New York Stock Exchange or alternative Canadian trading systems, if eligible.

As at March 31, 2023, GFL had 409,803,759 shares outstanding on a diluted basis, including subordinate voting shares, multiple voting shares, preferred shares and after giving effect to dilutive instruments.

The NCIB only relates to subordinate voting shares, of which GFL had 357,342,405 subordinate voting shares issued and outstanding as of May 2, 2023. Under the NCIB, a maximum of 17,867,120 subordinate voting shares (representing 5 per cent of the issued and outstanding shares) may be repurchased by GFL. All subordinate voting shares repurchased by GFL under the NCIB will be cancelled.

"We are renewing our share repurchase program as we believe that, from time to time, the market price of our shares does not reflect the underlying value of our business and growth prospects," said Patrick Dovigi, founder and chief executive officer of GFL. "While our capital allocation plans do not contemplate share repurchases, in the right conditions, we believe that the repurchase of our shares under a share buyback program could be opportunistic and an appropriate and desirable use of our available excess cash on hand." Mr. Dovigi concluded, "The decision to repurchase any of our shares will be measured against our other organic and inorganic growth opportunities and leverage guidelines and our overall objective of creating long-term value for all of our stakeholders."

Purchases under the NCIB may be made by means of open market transactions, including through an automatic share purchase plan, privately negotiated transactions or such other means as a securities regulatory authority may permit. In accordance with TSX rules, any daily repurchases would be limited to a maximum of 66,937 subordinate voting shares, which represents 25 per cent of the average daily trading volume on the TSX of 267,751 subordinate voting shares for the period from Nov. 1, 2022, to April 30, 2023. The TSX rules also allow the company to purchase, once a week, a block of subordinate voting shares not owned by any insiders, which may exceed such daily limit. The maximum number of shares which can be purchased per day on the NYSE will be 25 per cent of the average daily trading volume for the four calendar weeks preceding the date of purchase, subject to certain exceptions for block purchases. The company's previous NCIB authorized the purchase of up to 16,510,694 subordinate voting shares and expires on May 11, 2023. As of the date hereof, the company has not purchased any of its outstanding subordinate voting shares under this NCIB.

About GFL Environmental Inc.

GFL, headquartered in Vaughan, Ont., is the fourth-largest diversified environmental services company in North America, providing a comprehensive line of solid waste management, liquid waste management and soil remediation services through its platform of facilities throughout Canada and in more than half of the U.S. states. Across its organization, GFL has a work force of more than 20,000 employees.

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