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#000000;margin:0pt;"><span style="font-size:1pt;font-weight:bold;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">&#8203;</span></p><a id="_64a0b41f_0251_49bc_9ea0_f008daf654b7"></a><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:18pt;font-weight:bold;">UNITED STATES</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:18pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 7pt 0pt;"><b style="font-size:12pt;font-weight:bold;">Washington, D.C. 20549</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:18pt;text-align:center;margin:0pt 0pt 7pt 0pt;"><b style="font-weight:bold;">FORM </b><ix:nonNumeric contextRef="Duration_2_17_2022_To_2_17_2022_7PkmyCtutkyZJhBVYp9Z5Q" name="dei:DocumentType" id="Narr_1EiwPQEUAkmDqW5Ta3ZdBQ"><b style="font-weight:bold;">8-K</b></ix:nonNumeric></p><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:7pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto;"></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Current Report</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Pursuant To Section&#160;13 or 15 (d)</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b 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Incorporation)</b></p></td><td style="vertical-align:bottom;width:2%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:25%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">(Commission</b><b style="font-weight:bold;"><br /></b><b style="font-weight:bold;">File Number)</b></p></td><td style="vertical-align:bottom;width:2%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:34.99%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">(I.R.S. Employer</b><b style="font-weight:bold;"><br /></b><b style="font-weight:bold;">Identification No.)</b></p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="Duration_2_17_2022_To_2_17_2022_7PkmyCtutkyZJhBVYp9Z5Q" name="dei:EntityAddressAddressLine1" id="Narr_UOv2pYdvxkG89_D_jCUP9Q"><b style="font-weight:bold;">6220 Hwy 7, Suite 600</b></ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="Duration_2_17_2022_To_2_17_2022_7PkmyCtutkyZJhBVYp9Z5Q" name="dei:EntityAddressCityOrTown" id="Narr__xDgCnEvWECn0Be237U1vQ"><b style="font-weight:bold;">Woodbridge</b></ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="Duration_2_17_2022_To_2_17_2022_7PkmyCtutkyZJhBVYp9Z5Q" format="ixt-sec:stateprovnameen" name="dei:EntityAddressStateOrProvince" id="Narr_s_6OWdcyGEiBlXcoqUh7tA"><b style="font-weight:bold;">Ontario</b></ix:nonNumeric><b style="font-weight:bold;"> </b><ix:nonNumeric contextRef="Duration_2_17_2022_To_2_17_2022_7PkmyCtutkyZJhBVYp9Z5Q" name="dei:EntityAddressPostalZipCode" id="Narr_zhd_B9BXIk6ySdmAb31gcA"><b style="font-weight:bold;">L4H 4G3</b></ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="Duration_2_17_2022_To_2_17_2022_7PkmyCtutkyZJhBVYp9Z5Q" format="ixt-sec:countrynameen" name="dei:EntityAddressCountry" id="Narr_XJie4NG2xUOdZSFAJHJqGQ"><b style="font-weight:bold;">Canada</b></ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 7pt 0pt;"><b style="font-weight:bold;">(Address of principal executive offices)</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 7pt 0pt;"><b style="font-weight:bold;white-space:pre-wrap;">Registrant&#8217;s telephone number, including area code:  (</b><ix:nonNumeric contextRef="Duration_2_17_2022_To_2_17_2022_7PkmyCtutkyZJhBVYp9Z5Q" name="dei:CityAreaCode" id="Narr_FXc4tZJFDkuutKK4rcHz0A"><b style="font-weight:bold;">905</b></ix:nonNumeric><b style="font-weight:bold;">) </b><ix:nonNumeric contextRef="Duration_2_17_2022_To_2_17_2022_7PkmyCtutkyZJhBVYp9Z5Q" name="dei:LocalPhoneNumber" id="Narr_5ZU7D_asNEK_YQoDebwu-w"><b style="font-weight:bold;">532-7510</b></ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Not Applicable</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 7pt 0pt;"><b style="font-weight:bold;">(Former name or address, if changed since last report.)</b></p><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:7pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto;"></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:center;margin:0pt 0pt 7pt 0pt;">Securities registered pursuant to Section 12(b) of the Act:</p><a id="_5342c7c8_d385_42a5_a5c1_e048fed8910a"></a><a id="Tc_XZVKEwBnPUW1OcgjbJnHpA_1_0"></a><a id="Tc_8SyssZHMr0ypZzmVvHgTcQ_1_1"></a><a id="Tc_AxprAvr3nkuAmF04EZu3wQ_1_2"></a><a id="Tc_wMA1O5pcBUWTTQcwvLzxlg_2_0"></a><a id="Tc_b8gFW2lX2UWUSCaGa6riBw_2_2"></a><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:37.99%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:25%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:36.99%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td></tr><tr style="height:12.25pt;"><td style="vertical-align:top;width:37.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px 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name="dei:WrittenCommunications" id="Tc_IAHarDdDQku9Ml42zjSIpQ_1_1"><span style="font-family:'Segoe UI Symbol';">&#9744;</span></ix:nonNumeric></p></td><td style="vertical-align:top;width:95%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p></td></tr><tr><td style="vertical-align:middle;width:2.99%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:2%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:95%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td></tr><tr><td style="vertical-align:middle;width:2.99%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:2%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><ix:nonNumeric contextRef="Duration_2_17_2022_To_2_17_2022_7PkmyCtutkyZJhBVYp9Z5Q" format="ixt-sec:boolballotbox" name="dei:SolicitingMaterial" id="Tc_FAzD1GAtBUKAKc2uuubw1w_3_1"><span style="font-family:'Segoe UI Symbol';">&#9744;</span></ix:nonNumeric></p></td><td style="vertical-align:top;width:95%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p></td></tr><tr><td style="vertical-align:middle;width:2.99%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:2%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:95%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td></tr><tr><td style="vertical-align:middle;width:2.99%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:2%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><ix:nonNumeric contextRef="Duration_2_17_2022_To_2_17_2022_7PkmyCtutkyZJhBVYp9Z5Q" format="ixt-sec:boolballotbox" name="dei:PreCommencementTenderOffer" id="Tc_R9bkmppBHE278-ScPcLaug_5_1"><span style="font-family:'Segoe UI Symbol';">&#9744;</span></ix:nonNumeric></p></td><td style="vertical-align:top;width:95%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-(b))</p></td></tr><tr><td style="vertical-align:middle;width:2.99%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:2%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:95%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td></tr><tr><td style="vertical-align:middle;width:2.99%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:2%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><ix:nonNumeric contextRef="Duration_2_17_2022_To_2_17_2022_7PkmyCtutkyZJhBVYp9Z5Q" format="ixt-sec:boolballotbox" name="dei:PreCommencementIssuerTenderOffer" id="Tc_Bl75vsQJx0WZhC717xLl2g_7_1"><span style="font-family:'Segoe UI Symbol';">&#9744;</span></ix:nonNumeric></p></td><td style="vertical-align:top;width:95%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 7pt 0pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 7pt 0pt;">Emerging growth company <ix:nonNumeric contextRef="Duration_2_17_2022_To_2_17_2022_7PkmyCtutkyZJhBVYp9Z5Q" format="ixt-sec:boolballotbox" name="dei:EntityEmergingGrowthCompany" id="Narr_tN7DiftbXUOOlkdHVygB2g"><span style="font-family:'Segoe UI Symbol';">&#9744;</span></ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. <span style="font-family:'Segoe UI Symbol';">&#9744;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-bottom:1pt;padding-top:1pt;border-bottom:3.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:6pt;visibility:hidden;">&#8203;</span></p><p style="display:none;font-family:'Times New Roman','Times','serif';line-height:0pt;margin:0pt;"><span style="font-size:0pt;visibility:hidden;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:91.06%;border:0;margin:30pt 4.47% 30pt 4.47%;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><a id="_aa90d5b5_6ff5_437b_bf2b_5a473cc6aabd"></a><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Item 7.01&#160;&#160;Regulation FD Disclosure.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">During our earnings conference call on February 17, 2022, we highlighted the following outlook for the first quarter 2022.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><i style="font-style:italic;">(Dollar amounts are approximations)</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">For the first quarter of the year, we estimate our revenue to be approximately $1.610 billion. We expect price plus volume growth for solid waste to be about 6.5%, primarily price. &#160;Net income attributable to Waste Connections is estimated to be approximately $183.5 million. Adjusted EBITDA, as reconciled below, is estimated to be approximately $495 million.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Q1 2022 OUTLOOK</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">NON-GAAP RECONCILIATION SCHEDULE</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(in thousands of U.S. dollars, except where noted)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="text-decoration-line:underline;text-decoration-style:solid;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Reconciliation of Adjusted EBITDA:</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="text-decoration-line:underline;text-decoration-style:solid;visibility:hidden;">&#8203;</span></p><div style="padding-left:19.15pt;"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:1.5pt;padding-right:1.5pt;width:91.62%;"><tr style="height:1pt;"><td style="vertical-align:top;width:43.47%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:top;width:2.19%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td colspan="2" style="vertical-align:top;width:12.12%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td colspan="2" style="vertical-align:top;width:0.89%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td colspan="3" style="vertical-align:top;width:2.2%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td colspan="2" style="vertical-align:top;width:12.12%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:top;width:2.02%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td colspan="2" style="vertical-align:top;width:24.96%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td></tr><tr style="height:12.25pt;"><td style="vertical-align:top;width:43.47%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td colspan="12" style="vertical-align:bottom;width:56.22%;border-bottom:1px solid #000000;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:center;margin:0pt;">Q1 2022 Outlook</p></td></tr><tr style="height:12.25pt;"><td style="vertical-align:top;width:43.47%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td colspan="7" style="vertical-align:bottom;width:17.05%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:center;margin:0pt;">Estimates</p></td><td colspan="2" style="vertical-align:top;width:0.89%;border-top:1px solid #000000;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td colspan="3" style="vertical-align:bottom;width:38.26%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:center;margin:0pt;">Observation</p></td></tr><tr style="height:12.25pt;"><td style="vertical-align:bottom;width:43.47%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;margin:0pt;">Net income attributable to Waste Connections</p></td><td style="vertical-align:bottom;width:2.19%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;width:11.73%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:right;margin:0pt;">183,500</p></td><td colspan="2" style="vertical-align:top;width:0.92%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td colspan="2" style="vertical-align:bottom;width:1.1%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:1.1%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td colspan="2" style="vertical-align:top;width:0.89%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td colspan="3" style="vertical-align:bottom;width:38.26%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td></tr><tr style="height:12.25pt;"><td style="vertical-align:bottom;width:43.47%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;margin:0pt 0pt 0pt 9pt;">Plus: Income tax provision</p></td><td style="vertical-align:bottom;width:2.19%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:11.73%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:right;margin:0pt;">51,750</p></td><td colspan="2" style="vertical-align:top;width:0.92%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td colspan="2" style="vertical-align:bottom;width:1.1%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:1.1%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td colspan="2" style="vertical-align:top;width:0.89%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td colspan="3" style="vertical-align:bottom;width:38.26%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:center;margin:0pt;">Approximately 22% effective rate</p></td></tr><tr style="height:12.25pt;"><td style="vertical-align:bottom;width:43.47%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;margin:0pt 0pt 0pt 9pt;">Plus: Interest expense, net of interest income</p></td><td style="vertical-align:bottom;width:2.19%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:11.73%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:right;margin:0pt;">40,000</p></td><td colspan="2" style="vertical-align:top;width:0.92%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td colspan="2" style="vertical-align:bottom;width:1.1%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:1.1%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td colspan="2" style="vertical-align:top;width:0.89%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td colspan="3" style="vertical-align:bottom;width:38.26%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td></tr><tr style="height:12.25pt;"><td style="vertical-align:bottom;width:43.47%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;margin:0pt 0pt 0pt 9pt;">Plus: Depreciation and depletion</p></td><td style="vertical-align:bottom;width:2.19%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:11.73%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:right;margin:0pt;">179,000</p></td><td colspan="2" style="vertical-align:top;width:0.92%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td colspan="2" style="vertical-align:bottom;width:1.1%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:1.1%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td colspan="2" style="vertical-align:top;width:0.89%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td colspan="3" style="vertical-align:bottom;width:38.26%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:center;margin:0pt;">Approximately 11.1% of revenue</p></td></tr><tr style="height:23.15pt;"><td style="vertical-align:bottom;width:43.47%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;margin:0pt 0pt 0pt 9pt;">Plus: Amortization</p></td><td style="vertical-align:bottom;width:2.19%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:11.73%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:right;margin:0pt;">37,000</p></td><td colspan="2" style="vertical-align:top;width:0.92%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td colspan="2" style="vertical-align:bottom;width:1.1%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:1.1%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td colspan="2" style="vertical-align:top;width:0.89%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td colspan="3" style="vertical-align:bottom;width:38.26%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:center;margin:0pt;">Approximately 2.3% of revenue, or $0.11 per diluted share net of taxes</p></td></tr><tr style="height:12.25pt;"><td style="vertical-align:bottom;width:43.47%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;margin:0pt 0pt 0pt 9pt;">Plus: Closure and post-closure accretion</p></td><td style="vertical-align:bottom;width:2.19%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:11.73%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:right;margin:0pt;">3,750</p></td><td colspan="2" style="vertical-align:top;width:0.92%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td colspan="2" style="vertical-align:bottom;width:1.1%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:1.1%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td colspan="2" style="vertical-align:top;width:0.89%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td colspan="3" style="vertical-align:bottom;width:38.26%;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td></tr><tr style="height:13.1pt;"><td style="vertical-align:bottom;width:43.47%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;margin:0pt;">Adjusted EBITDA</p></td><td style="vertical-align:bottom;width:2.19%;background:#cceeff;border-bottom:2.25pt double #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;width:11.73%;background:#cceeff;border-bottom:2.25pt double #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:right;margin:0pt;">495,000</p></td><td colspan="2" style="vertical-align:top;width:0.92%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td colspan="2" style="vertical-align:bottom;width:1.1%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:1.1%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td colspan="2" style="vertical-align:top;width:0.89%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></td><td colspan="3" style="vertical-align:bottom;width:38.26%;background:#cceeff;margin:0pt;padding:0pt 1.5pt 0pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:center;margin:0pt;">Approximately 30.7% of revenue</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">For the full year, in addition to the outlook provided in our Current Report on Form 8-K filed with the Securities and Exchange Commission on February 16, 2022, we expect mostly price-led organic growth for solid waste to be 6.5% to 7.0%. &#160;</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">These estimates assume no change in the current economic environment. &#160;They also exclude any impact from additional acquisitions that may close during the remainder of the year, and expensing of transaction-related items during the period.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Adjusted EBITDA, a non-GAAP financial measure, is provided supplementally because it is widely used by investors as a performance and valuation measure in the solid waste industry. &#160;Management uses adjusted EBITDA as one of the principal measures to evaluate and monitor the ongoing financial performance of our operations. &#160;We define adjusted EBITDA as net income attributable to Waste Connections, plus or minus net income (loss) attributable to noncontrolling interests, plus income tax provision, plus interest expense, less interest income, plus depreciation and amortization expense, plus closure and post-closure accretion expense, plus or minus any loss or gain on impairments and other operating items, plus other expense, less other income. &#160;We further adjust this calculation to exclude the effects of other items management believes impact the ability to assess the operating performance of our business. &#160;This measure is not a substitute for, and should be used in conjunction with, GAAP financial measures. &#160;Other companies may calculate adjusted EBITDA differently.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The information furnished in Item 7.01 is not deemed &#8220;filed&#8221; for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section, and is not deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Safe Harbor and Forward-Looking Information</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">This document contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 (&quot;PSLRA&quot;), including &quot;forward-looking information&quot; within the meaning of applicable Canadian securities laws. These forward-looking statements are neither historical facts nor assurances of future performance and reflect Waste Connections&#39; current beliefs and expectations regarding future events and operating </p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:79.3%;border:0;margin:30pt 10.35% 30pt 10.35%;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">performance. These forward-looking statements are often identified by the words &quot;may,&quot; &quot;might,&quot; &quot;believes,&quot; &quot;thinks,&quot; &quot;expects,&quot; &quot;estimate,&quot; &quot;continue,&quot; &quot;intends&quot; or other words of similar meaning. All of the forward-looking statements included in this document are made pursuant to the safe harbor provisions of the PSLRA and applicable securities laws in Canada. Forward-looking statements involve risks and uncertainties. Forward-looking statements in this document include, but are not limited to, statements about expected first quarter and full year 2022 outlook for financial results. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking statements include, but are not limited to, risk factors detailed from time to time in the Company&#39;s filings with the SEC and the securities commissions or similar regulatory authorities in Canada. &#160;You should not place undue reliance on forward-looking statements, which speak only as of the date of this document. &#160;Waste Connections undertakes no obligation to update the forward-looking statements set forth in this document, whether as a result of new information, future events, or otherwise, unless required by applicable securities laws.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;background:#ffff00;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:79.3%;border:0;margin:30pt 10.35% 30pt 10.35%;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">SIGNATURES</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:49.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:top;width:3.8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:top;width:46.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td></tr><tr style="height:1pt;"><td style="vertical-align:top;width:49.97%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td colspan="2" style="vertical-align:top;width:50.02%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">WASTE CONNECTIONS, INC.</b></p></td></tr><tr style="height:1pt;"><td style="vertical-align:top;width:49.97%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td colspan="2" style="vertical-align:top;width:50.02%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-weight:bold;visibility:hidden;">&#8203;</span></p></td></tr><tr style="height:1pt;"><td style="vertical-align:top;width:49.97%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td colspan="2" style="vertical-align:top;width:50.02%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td></tr><tr style="height:1pt;"><td style="vertical-align:top;width:49.97%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="white-space:pre-wrap;">Date:  February 17, 2022</span></p></td><td style="vertical-align:top;width:3.8%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">BY:</p></td><td style="vertical-align:top;width:46.21%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">/s/ Mary Anne Whitney</p></td></tr><tr style="height:1pt;"><td style="vertical-align:top;width:49.97%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:3.8%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:46.21%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Mary Anne Whitney</p></td></tr><tr style="height:1pt;"><td style="vertical-align:top;width:49.97%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:3.8%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:46.21%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Executive Vice President and Chief Financial Officer</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div>
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​
​
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
8-K
Current Report
Pursuant To Section 13 or 15 (d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
February 17, 2022
Waste Connections, Inc.
(Exact name of registrant as specified in its charter)
​
​
​
​
​
Ontario, Canada
1-34370
98-1202763
(State or other jurisdiction
of Incorporation)
​
(Commission
File Number)
​
(I.R.S. Employer
Identification No.)
​
6220 Hwy 7, Suite 600
Woodbridge
Ontario
L4H 4G3
Canada
(Address of principal executive offices)
Registrant's telephone number, including area code:  (
905
)
532-7510
Not Applicable
(Former name or address, if changed since last report.)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Shares, no par value
WCN
New York Stock Exchange ("
NYSE
")
Toronto Stock Exchange ("TSX")
​
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (
see
General Instruction A.2. below):
​
​
​
​
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
​
​
​
​
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
​
​
​
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
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Item 7.01  Regulation FD Disclosure.
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During our earnings conference call on February 17, 2022, we highlighted the following outlook for the first quarter 2022.
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(Dollar amounts are approximations)
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For the first quarter of the year, we estimate our revenue to be approximately $1.610 billion. We expect price plus volume growth for solid waste to be about 6.5%, primarily price.  Net income attributable to Waste Connections is estimated to be approximately $183.5 million. Adjusted EBITDA, as reconciled below, is estimated to be approximately $495 million.
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Q1 2022 OUTLOOK
NON-GAAP RECONCILIATION SCHEDULE
(in thousands of U.S. dollars, except where noted)
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Reconciliation of Adjusted EBITDA:
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Q1 2022 Outlook
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Estimates
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Observation
Net income attributable to Waste Connections
$
183,500
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Plus: Income tax provision
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51,750
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Approximately 22% effective rate
Plus: Interest expense, net of interest income
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40,000
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Plus: Depreciation and depletion
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179,000
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Approximately 11.1% of revenue
Plus: Amortization
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37,000
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Approximately 2.3% of revenue, or $0.11 per diluted share net of taxes
Plus: Closure and post-closure accretion
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3,750
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Adjusted EBITDA
$
495,000
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Approximately 30.7% of revenue
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For the full year, in addition to the outlook provided in our Current Report on Form 8-K filed with the Securities and Exchange Commission on February 16, 2022, we expect mostly price-led organic growth for solid waste to be 6.5% to 7.0%.
These estimates assume no change in the current economic environment.  They also exclude any impact from additional acquisitions that may close during the remainder of the year, and expensing of transaction-related items during the period.
Adjusted EBITDA, a non-GAAP financial measure, is provided supplementally because it is widely used by investors as a performance and valuation measure in the solid waste industry.  Management uses adjusted EBITDA as one of the principal measures to evaluate and monitor the ongoing financial performance of our operations.  We define adjusted EBITDA as net income attributable to Waste Connections, plus or minus net income (loss) attributable to noncontrolling interests, plus income tax provision, plus interest expense, less interest income, plus depreciation and amortization expense, plus closure and post-closure accretion expense, plus or minus any loss or gain on impairments and other operating items, plus other expense, less other income.  We further adjust this calculation to exclude the effects of other items management believes impact the ability to assess the operating performance of our business.  This measure is not a substitute for, and should be used in conjunction with, GAAP financial measures.  Other companies may calculate adjusted EBITDA differently.
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The information furnished in Item 7.01 is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section, and is not deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.
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Safe Harbor and Forward-Looking Information
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This document contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 ("PSLRA"), including "forward-looking information" within the meaning of applicable Canadian securities laws. These forward-looking statements are neither historical facts nor assurances of future performance and reflect Waste Connections' current beliefs and expectations regarding future events and operating
performance. These forward-looking statements are often identified by the words "may," "might," "believes," "thinks," "expects," "estimate," "continue," "intends" or other words of similar meaning. All of the forward-looking statements included in this document are made pursuant to the safe harbor provisions of the PSLRA and applicable securities laws in Canada. Forward-looking statements involve risks and uncertainties. Forward-looking statements in this document include, but are not limited to, statements about expected first quarter and full year 2022 outlook for financial results. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking statements include, but are not limited to, risk factors detailed from time to time in the Company's filings with the SEC and the securities commissions or similar regulatory authorities in Canada.  You should not place undue reliance on forward-looking statements, which speak only as of the date of this document.  Waste Connections undertakes no obligation to update the forward-looking statements set forth in this document, whether as a result of new information, future events, or otherwise, unless required by applicable securities laws.
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SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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WASTE CONNECTIONS, INC.
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Date:  February 17, 2022
BY:
/s/ Mary Anne Whitney
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Mary Anne Whitney
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Executive Vice President and Chief Financial Officer
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