Gfl Environmental Inc · TSX:GFL

Gfl Environmental — Merger or Acquisition (August 2020)

11 slides from Gfl Environmental's merger presentation, Aug 12, 2020

  1. Slide 1: Investor Update

    Investor Update August 12, 2020

  2. 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 Information This presentation contains “forward-looking information” wit

  3. Slide 3: GFL to Acquire WCA Waste Corporation

    GFL to Acquire WCA Waste Corporation  Transaction Summary  GFL has entered a definitive agreement to acquire (the “Acquisition”) WCA Waste Corporation and its subsidiaries (“WCA”) for an aggregate purchase price of US$1.212 billion.  The Acquisition is subject to approval by the U.S. Department o

  4. Slide 4: Strategic Benefits

    Strategic Benefits  Platform Acquisition in the Midwest and Southeast U.S.  The Acquisition provides GFL with an attractive opportunity to acquire an integrated solid waste management company servicing several regional markets in which GFL does not currently operate, thereby expanding GFL’s U.S. f

  5. Slide 5: Geographic Overview

    Geographic Overview Pro Forma Geographic Breakdown Revenue Breakdown Revenue by State Revenue by Type  Texas, Missouri and Florida constitute majority of revenue acquired.  Facilities are well integrated resulting in an internalization rate of ~77%.  Revenue largely derived from collection servic

  6. Slide 6: Illustrative Sources & Uses

    Illustrative Sources & Uses Sources & Uses Sources (C$) (US$)(1) (%)  Acquisition to be financed by a combination of: (C$ / US$ in millions)  New convertible preferred equity. New Financing 1,001 750 56% Preferred Equity 801 600 44%  US$600 million perpetual convertible Series A preferred shares.

  7. Slide 7: Illustrative Pro Forma Income Statement and Balance Sheet

    Illustrative Pro Forma Income Statement and Balance Sheet Pro Forma Income Statement and Balance Sheet As at and for 2020 Outlook 2020 Outlook  Without giving effect to the WM/ADS & WCA 12 months excl. Pro Forma WM / ADS WCA transactions and related financing, the current 2020 ended June WM/ADS & f

  8. Slide 8: Long-Term Debt

    Long-Term Debt Capitalization Table June 30, 2020 (1) Interest Rate Illustrative Current Trading  Costs on existing debt yield average interest rate of ~ Interest Levels 5.1%. (C$ millions) (%) (C$ millions) (%) Cash 721 - - N/A  Current trading levels of the existing bonds range from Revolver - -

  9. Slide 9: Appendix

    Appendix

  10. Slide 10: 2020 Outlook

    2020 Outlook 2020 Adjusted EBITDA Estimated Range (C$ millions) Low High  The aside tables present a range of potential outcomes for 2020, Net Loss (459) (444) excluding any impacts from the WCA and WM/ADS acquisitions. Interest and other finance costs 528 528 Depreciation and amortization 507 507

  11. Slide 11: Definitions

    Definitions  Loss (gain) on foreign exchange and derivatives: Consists of (i) non-cash gains and losses on foreign exchange and interest rate swaps entered into in connection with our debt instruments, (ii) gains and losses attributable to foreign exchange rate fluctuations (iii) mark to market los

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