GFL Environmental (GFL) Investor presentation summary

Strategic positioning and asset base

• Operates a diversified North American solid waste platform with $6.1B revenue and 15,000+ employees, focusing on both primary and secondary markets for optimized margin profiles.

• Asset network includes 90+ landfills, 175+ transfer stations, 30+ MRFs & recycling facilities, and 20+ organics facilities, with 68% of solid waste revenue from the U.S.

Financial performance and growth

• Achieved 17% revenue CAGR and 20.2% Adjusted EBITDA CAGR since IPO, more than doubling both metrics.

• Adjusted EBITDA margin expanded by 290 bps to 28.6% in 2024, with over 270 strategic acquisitions completed.

• Outperformed waste peer group with ~22.5% annualized total shareholder return since IPO.

Operational initiatives and optimization

• Price-led organic growth, ancillary surcharge programs, and digital tools drive margin expansion, with pricing initiatives expected to add $40M–$80M Adjusted EBITDA by 2028.

• Employee engagement and retention programs reduced voluntary turnover by 55%, improving safety and service, and are projected to contribute $20M–$30M Adjusted EBITDA by 2028.

• CNG fleet conversion and procurement optimization initiatives are expected to add $50M–$80M Adjusted EBITDA by 2028.