Mr. Patrick Dovigi reports

GFL ENVIRONMENTAL INC. ANNOUNCES PROPOSED PRIVATE OFFERING OF SENIOR NOTES

GFL Environmental Inc. is planning to commence, subject to market and other conditions, a private offering of $1-billion (U.S.) in aggregate principal amount of senior notes due 2034. The notes will be issued by a U.S. wholly owned subsidiary of GFL and will be guaranteed by GFL and certain of its other subsidiaries.

Following the successful execution of the company's capital allocation strategy in 2025, GFL intends to use the proceeds from the note offering to repay amounts drawn on its revolving credit facility and for general corporate purposes, with a view to maximizing its available liquidity to execute on its growth strategy in 2026 and beyond. The note offering is expected to have an immaterial impact on the company's borrowing rate and to be leverage neutral, consistent with the company's commitment to maintain leverage in the low-to-mid 3.0x range.

About GFL Environmental Inc.

GFL is the fourth-largest diversified environmental services company in North America, providing comprehensive solid waste management services through its platform of facilities throughout Canada and in 18 U.S. states. Across its organization, GFL has a work force of more than 15,000 employees.

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