WM — Jan 28, 2026 release

(a)  This growth is underpinned by our unreplicable solid waste network as well as the intentional investments we have made in recycling and renewable energy projects, our fleet, and a premier medical waste network. We plan to harvest the benefits of our investments and return to shareholders approximately $3.5 billion in 2026 through dividends and share repurchases while also returning our leverage ratio to our long-term target range of between 2.5x and 3.0x.” (d)         KEY HIGHLIGHTS FOR the fourth quarter and FULL YEAR 2025   Operating EBITDA (b)       Fourth Quarter 2025     Full Year 2025       ($ in millions)     ($ in millions)       Total Company Breakout     As Adjusted (a)     Total Company Breakout     As Adjusted (a)       Amount     Margin     Amount     Margin     Amount     Margin     Amount     Margin   Legacy Business (e)   $ 1,838       32.3 %   $ 1,869       32.8 %   $ 6,833       30.1 %   $ 7,158       31.5 % Healthcare Solutions     87       14.1 %     105       17.1 %     338       13.5 %     424       16.9 % Total Company   $ 1,925       30.5 %   $ 1,974       31.3 %   $ 7,171       28.5 %   $ 7,582       30.1 %   · Total Company operating EBITDA grew 13.3% in 2025. On an adjusted basis, total Company operating EBITDA grew 15.5%, and full-year adjusted margin exceeded 30% for the first time. (a)   · Operating