GFL Environmental Inc.

On March 5, 2020, we completed our initial public offering and our subordinate voting shares began trading on the TSX and NYSE under the symbol GFL . In April 2022, we completed the divestiture of our Infrastructure Services division in exchange for cash and a non-controlling interest in Green Infrastructure Partners Inc. In August 2025, we announced a definitive agreement between GIP and funds managed by Energy Capital Partners, LLC for GIP to recapitalize its business for an enterprise value of $4.25 billion. The transaction was completed in September 2025. In March 2025, we completed the sale of our environmental services business ( Environmental Services ) for an enterprise value of $8.0 billion to funds managed by affiliates of Apollo (the Apollo Funds ) and affiliates of BC Partners (the BC Funds ). We retained a 44% non-controlling equity interest in Environmental Services with the Apollo Funds and BC Funds each holding a 28% equity interest. In September 2025, funds managed by affiliates of HPS Investment Partners, LLC ( HPS ) subscribed for an equity interest in Environmental Services in exchange for paid in kind notes held by HPS. As a result of the subscription by HPS for its approximately 22% interest, our equity investment in Environmental Services was reduced to approximately 34.0% and each of the BC Funds’ and Apollo Funds’ equity investment was reduced to approximately 22%. We have the option to repurchase the balance of the equity of Environmental Services within five years of the closing date of the divestiture.