Waste Management, Inc. (NYSE:WM) Q2 2023 Earnings Conference Call July 26, 2023 10:00 AM ET Company Participants Ed Egl - Senior Director, IR Jim Fish - President and CEO John Morris - EVP and COO Devina Rankin - EVP and CFO Tara Hemmer - SVP and Chief Sustainability Officer Conference Call Participants Tyler Brown - Raymond James Toni Kaplan - Morgan Stanley Bryan Burgmeier - Citi Michael Hoffman - Stifel Noah Kaye - Oppenheimer Sean Eastman - KeyBanc Jerry Revich - Goldman Sachs Hans Hoffman - Jefferies T ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q For the transition period from to Commission file number 1-12154 Waste Management, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) Delaware 73-1309529 (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2023 or ☐ TRANSITION REPOR ...

Waste Management, Inc. (NYSE:WM) Goldman Sachs Industrials and Materials Conference May 10, 2023 2:30 PM ET Company Participants Ed Egl - Senior Director, Investor Relations John Morris - Chief Operating Officer Conference Call Participants Jerry Revich - Goldman Sachs Jerry Revich Good afternoon. Hi. Thank you, everyone for joining us. I'm Jerry Revich at Goldman Sachs. Really excited to have with us from Waste Management; John Morris, Chief Operating Officer on my right and next to John is; Ed Egl, Senior ...

Waste Management, Inc. (NYSE:WM) Oppenheimer's 18th Annual Industrial Growth Conference Call May 9, 2023 3:00 PM ET Company Participants Tara Hemmer - SVP & Chief Sustainability Officer Conference Call Participants Noah Kaye - Oppenheimer Noah Kaye Well, good afternoon, everyone. Thanks so much for joining us at day two of Oppenheimer's 18th Annual Industrial Growth Conference. I'm Noah Kaye, Managing Director in Oppenheimer's Sustainable Growth and Resource Optimization Practice. And we're very happy to we ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Waste Management, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) For the Quarterly Period Ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the tra ...

Waste Management, Inc. (NYSE:WM) Q1 2023 Earnings Conference Call April 27, 2023 10:00 AM ET Company Participants Ed Egl - Senior Director, IR Jim Fish - President and CEO John Morris - EVP and COO Devina Rankin - EVP and CFO Tara Hemmer - SVP and CSO Conference Call Participants Bryan Burgmeier - Citi Toni Kaplan - Morgan Stanley Jerry Revich - Goldman Sachs Tyler Brown - Raymond James Michael Hoffman - Stifel Kevin Chiang - CIBC Sean Eastman - KeyBanc Stephanie Moore - Jefferies Tobey Sommer - Truist Tony ...

Summary of Waste Management, Inc. Conference Call Company Overview - Waste Management, Inc. (NYSE: WM) is the largest solid waste operator in North America, with a strong franchise and robust collection operations [2][5] Core Business Focus - The company has three strategic focal points: 1. **Pricing**: Emphasized as a key focus, second only to safety. The company has seen significant value from pricing strategies over the past few years [5] 2. **Cost Control**: Aimed at permanent reductions in operating costs and SG&A, particularly through labor management due to a shrinking labor pool [6] 3. **Renewable Natural Gas (RNG) and Recycling**: Plans to discuss renewable natural gas plants and recycling facility upgrades in detail during an upcoming Investor Day [6] Financial Performance and Projections - The company projects EBITDA growth from 2019 to 2026/2027 to be between 75% to nearly 100%, which is notable for a mature industry [6][7] - Historical EBITDA growth from 2019 to 2022 exceeded the previously projected range of 5% to 7% [7][46] Inflation and Pricing Strategy - The company faced challenges in 2022 due to rapid inflation, with reported inflation peaking at 9.5%. Labor costs increased significantly, adding $120 million to expenses [10][11] - Approximately 40% of revenue is tied to contracts with a 12-month look-back for pricing adjustments, which delayed the benefits of price increases until 2023 [17][18] Labor and Automation - The labor pool is shrinking, leading to increased turnover rates, which have risen from 15%-20% a decade ago to 20%-25% currently [12] - The company plans to reduce 5,000 to 7,000 roles through automation and technology integration, enhancing efficiency and safety [13][14] Market Position and Volume Growth - The company anticipates flat volume growth in 2023 but remains optimistic about long-term growth due to market share gains from smaller competitors facing labor challenges [29][30] - The business is described as price inelastic, meaning customers are not highly sensitive to price changes, allowing for potential price increases without significant loss of volume [33][34] Green Capital Expenditures (CapEx) - Waste Management is investing $1 billion in recycling, focusing on upgrading facilities with advanced technology to increase capacity and improve material quality [35][36] - The company expects $240 million in EBITDA from recycling upgrades by 2026, with payback periods of 5-6 years [38] Renewable Natural Gas (RNG) Strategy - The company plans to build 20 RNG plants, expecting to generate $500 million in EBITDA by 2026 [27][44] - Waste Management has a competitive advantage due to its 75% natural gas fleet, allowing for better generation of valuable D3 RIN credits [40][41] Investment Tax Credits - The company is looking to capitalize on investment tax credits available for RNG investments, with potential credits estimated around $300 million [47] Conclusion - Waste Management is positioned for significant growth through strategic pricing, cost control, and investments in green technologies, with a clear path to increasing EBITDA and market share in the coming years [46]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-12154 Waste Management, Inc. (Exact name of registrant as specified in its charter) Delaware 73-1309529 (Stat ...

Waste Management, Inc. (NYSE:WM) Q4 2022 Earnings Conference Call February 1, 2023 10:00 AM ET Company Participants Ed Egl - Senior Director of Investor Relations Jim Fish - President & Chief Executive Officer John Morris - Executive Vice President & Chief Operating Officer Devina Rankin - Executive Vice President & Chief Financial Officer Tara Hemmer - Senior Vice President and Chief Sustainability Officer Conference Call Participants Jerry Revich - Goldman Sachs Toni Kaplan - Morgan Stanley Tyler Brown - ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to (713) 512-6200 (Registrant's telephone number, including area code) Commission file number 1-12154 Waste Management, Inc. (Exact name of registrant as ...