Slide 1: Q3 2021 Investor Review
Q3 2021 Investor Review November 4, 2021
Slide 2: Disclaimer
Disclaimer Unless otherwise indicated, all references in this presentation to ‘‘GFL,’’ ‘‘we,’’ ‘‘our,’’ ‘‘us,’’ the “Company’’ or similar terms refer to GFL Environmental Inc. and its consolidated subsidiaries. Forward-looking Statements This presentation contains certain “forward-looking statements
Slide 3: Q3 2021 Highlights
Q3 2021 Highlights Q3: Financial Results • Revenue of $1,485.1M, increase of 43.3% • Adjusted EBITDA(1) of $415.8M, increase of 47.9% o Adjusted EBITDA margin(2) of 28.0%, 90 bps increase over prior period o Solid waste Adjusted EBITDA margin(2) of 31.7%, 110 bps increase over prior period • Adjus
Slide 4: Q3 Revenue Growth
Q3 Revenue Growth Solid Waste Three months ended September 30, 2021 Contribution Organic Foreign Total • 8.2% positive organic growth from Revenue Acquisitions Growth Exchange Growth o 4.3% net price vs 3.5% in Q3-20 Solid waste: o 2.4% positive volume vs (1.7%) in Q3-20 Canada 6.5% 7.9% - 14.4% U
Slide 5: Operating Segment Breakdown
Operating Segment Breakdown (C$ millions, unless otherwise noted) Solid Waste Three months ended September 30, 2021 2020 • 110 bps margin expansion vs Q3-20 and 80 bps Adjusted Adjusted sequential margin expansion over Q2-21 Adjusted Adjusted Revenue EBITDA Revenue EBITDA o Organic margin expansio
Slide 6: Cash Flow Highlights
Cash Flow Highlights (C$ millions, unless otherwise noted) Adjusted Free Cash Flow Three months ended September 30, Change • ~7% increase in Adjusted Cash Flows from Operating 2021 2020 $ % Activities as compared to Q3-20 Cash flows from operating activities 223.9 256.7 (32.8) (12.8%) • Results in
Slide 7: Net Leverage
Net Leverage (C$ millions, unless otherwise noted) Other Cash Flow and Liquidity Items September December 30, 2021 31, 2020 • Deployed ~$1.1 billion for 14 acquisitions, including ~$935M for Terrapure Total long-term debt 8,417.6 6,166.1 Deferred finance costs and other adjustments 27.1 58.5 • ~$1
Slide 8: Updated Full Year 2021 Guidance – Revenue Bridge
Updated Full Year 2021 Guidance – Revenue Bridge Net Impact from Incremental M&A Base Business Terrapure Outperformance / Divestitures Closing Early $25 - $35 $40 - $50 Increasing revenue $75 guidance to $5,400M(1), an increase of $150M over July 2021 Guidance(1) $5,390 - $5,250 5,410 Anticipate Adj
Slide 9: Appendix
Appendix vit TRI PRULLELE
Slide 10: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation (C$ millions, unless otherwise noted) 1. Loss (gain) on foreign exchange: Consists of (i) non-cash gains and losses on foreign exchange and interest rate swaps entered into in connection with our debt Three months ended Nine months ended instruments and (ii) gains and
Slide 11: Adjusted Free Cash Flow Reconciliation
Adjusted Free Cash Flow Reconciliation (C$ millions, unless otherwise noted) 1. Costs associated with IPO related debt repayments: Consists of costs associated with the extinguishment of our 11.000% paid-in-kind notes (“PIK Notes”), 5.625% USD Three months ended Nine months ended senior unsecured no
Slide 12: Adjusted Net Income Reconciliation
Adjusted Net Income Reconciliation (C$ and shares in millions, unless otherwise noted) 1. Amortization of intangible assets: This is a non-cash item and consists of the Three months ended Nine months ended amortization of intangible assets such as customer lists, municipal contracts, non- compete ag
Slide 13: Definitions
Definitions “Adjusted EBITDA” is calculated by adding and deducting, as applicable from EBITDA, certain expenses, costs, charges or benefits incurred in such period which in management's view are either not indicative of underlying business performance or impact the ability to assess the operating p