Republic Services (RSG) Investor Presentation summary

Investment thesis and market overview

• Vertically integrated operations and high-quality assets support profitable growth and resilience in changing economic conditions.

• Essential services provided in a $165B environmental services industry with significant consolidation opportunities.

• Approximately 80% of revenue is annuity-type, ensuring strong and predictable free cash flow.

• National footprint with diversified exposure across franchise, urban, and small to mid-sized markets.

Strategic focus and differentiators

• Focus on customer needs, sustainability, and technology to drive growth and operational efficiency.

• Complete set of products and services, with high employee engagement and safety performance 24% better than industry average.

• Customer-centric culture with a 94% retention rate and initiatives to increase loyalty and attract new business.

• Digital platforms like RISE and MPower enhance customer experience and operational productivity.

Sustainability and innovation

• Ambitious 2030 sustainability goals: 35% reduction in Scope 1 and 2 GHG emissions, 40% increase in key material recovery, and 50% increase in biogas reuse.

• 20% reduction in Scope 1 and 2 GHG emissions since 2017; 120M tons of material handled annually.

• Investments in Polymer Centers and Blue Polymers to boost plastic circularity and generate $220M annual revenue by 2029.

• Over 40 landfill gas-to-energy projects planned, targeting $120M incremental EBITDA annually by 2029.