GFL Environmental Closes Acquisition of SECURE Waste Infrastructure Corp.

GFL Environmental Inc. (NYSE: GFL ) (TSX: GFL) ("GFL" or the "Company") today announced that it has closed the acquisition of SECURE Waste Infrastructure Corp. ("SECURE") pursuant to the terms of the previously announced arrangement agreement between GFL and SECURE (the "Transaction").

The Transaction was financed through a combination of capacity under the Company's revolving credit facility, the issuance of 75,126,306 GFL subordinate voting shares (the "GFL Subordinate Voting Shares") and a new US$1 billion senior secured term loan ("Senior Secured Term Loan"). The Senior Secured Term Loan matures on or about August 28, 2033 and bears interest at SOFR +200 basis points or approximately 5.0% after giving effect to cross currency interest rate swaps entered into by the Company.

"We are excited to welcome the over 2,000 SECURE employees to the GFL family, including Allen Gransch and other SECURE management who are staying on to lead the SECURE business as both employees and shareholders of GFL," said Patrick Dovigi, Founder and Chief Executive Officer of GFL.

Mr. Dovigi concluded, "The Senior Secured Term Loan transaction closed at the end of August and was significantly oversubscribed, a continued testament to our long-standing relationship with high-quality debt investors, many of whom have been with us for well over a decade. The loan transaction did not impact our credit rating, and we remain committed to pursuing a path to investment grade in the near-to-medium term."

It is expected that the SECURE common shares will be delisted from the Toronto Stock Exchange at the close of business on or about September 2, 2026. The GFL Subordinate Voting Shares received by the SECURE shareholders in connection with the Transaction will begin trading on the Toronto Stock Exchange and the New York Stock Exchange on or about September 2, 2026 under the ticker symbol "GFL".