Clean Harbors, Inc. · NYSE:CLH
Clean Harbors — Investor Presentation (June 2026)
29 slides from Clean Harbors's investor presentation, June 2026
Slide 1: Clean Harbors, Inc. Investor Presentation
Clean Harbors, Inc. Investor Presentation June 2026
Slide 2: Forward Looking Statements and GAAP Disclaimer
Forward Looking Statements and GAAP Disclaimer These slides contain (and the accompanying oral discussion will contain) forward-looking statements, which are generally identifiable by use of the words "believes," "expects," "intends," "anticipates," "plans to," "seeks,“ “will,” "should," "estimates,
Slide 3: Our Mission is Based on Sustainability
Our Mission is Based on Sustainability “Create a Safer, Cleaner Environment Through the Treatment, Recycling and Disposal of Hazardous Materials” PEOPLE AND TECHNOLOGY CREATING A CLEANER, SAFER ENVIRONMENT 3
Slide 4: North America's Environmental and Industrial Services Leader
North America’s Environmental and Industrial Services Leader Largest hazardous waste disposal company Largest collector, recycler and re-refiner of used oil 100+ waste management facilities More than one million waste profiles Top 15 largest private motor carrier 300,000+ customers ~24
Slide 5: Sustainable Business Model – Led by Powerful Brands
Sustainable Business Model – Led by Powerful Brands (Environmental Services) Technical Safety-Kleen Facilities Services Environmental Field Services Industrial Services Safety-Kleen Sustainability Solutions Treat, Recycle, Gather Waste Transport Waste Transfer & 1 Perform Services 2 & Waste Oil 3 Co
Slide 6: Competitive Advantages
Competitive Advantages Complex regulatory requirements – own more than 600 permits; difficult to replicate Significant customer switching costs Unique assets and equipment Substantial capital costs Required safety standards Deeply experienced personnel Decades worth of investments in p
Slide 7: Maintains Unmatched Network of Disposal Assets
Maintains Unmatched Network of Disposal Assets More than 100 Waste Management Facilities - 10 Incinerators - 7 Landfill Sites - 33 Treatment, Storage & Disposal Facilities (TSDFs) - 8 Solvent Recycling Facilities - 12 Wastewater Treatment Operations - 8 Re-refineries • More than 20,000 Company Veh
Slide 8: Supported by Expansive Network of Service Branches
Supported by Expansive Network of Service Branches Locations in all 50 states, nine Canadian provinces and Puerto Rico Only national provider with breadth of services All major metropolitan areas covered Ability to share assets and personnel PEOPLE AND TECHNOLOGY CREATING A CLEANER, SAFER EN
Slide 9: End Market Diversification Limits Downside Risk
End Market Diversification Limits Downside Risk 2023 2024 2025 Manufacturing 15% 14% 14% Chemical 17% 15% 14% Refineries 14% 13% 12% Automotive Service/Repair 8% 8% 10% Utilities 6% 6% 7% Transportation 4% 4% 6% Government 4% 4% 5% Base and Blended Oils 7% 5% 4% Oil and Gas 4% 5% 4% Retail 3% 3% 4%
Slide 10: Reporting Segments
REPORTING SEGMENTS PEOPLE AND TECHNOLOGY CREATING A CLEANER, SAFER ENVIRONMENT 10
Slide 11: Environmental Services Segment Leader in $25-$30B+ Market
Environmental Services Segment Leader in $25-$30B+ Market ~$5.1 billion in 2025 revenue Multiple service businesses supporting network of disposal and recycling assets Turnkey solutions for customers Environmental/sustainability partner Growth Drivers GDP and industrial production Regula
Slide 12: Kimball Incinerator Update
Kimball Incinerator Update 70,000-ton facility began processing hazardous waste in December 2024 Processed more than 35,000 tons in 2025; will ramp up volumes and mix over next 12 months as we optimize the facility Customer interest remains strong; Opportunity to capitalize on captive incinera
Slide 13: Significant PFAS Momentum in 2026
Significant PFAS Momentum in 2026 EPA’s PFAS incineration study attracting attention and driving conversations with potential CLH customers Three-year contract worth $110 million for expansion of PFAS water filtration work at Joint Base Pearl Harbor-Hickam in Hawaii The EPA and Pentagon both r
Slide 14: Safety-Kleen Sustainability Solutions Segment Leader in $20B+ Market
Safety-Kleen Sustainability Solutions Segment Leader in $20B+ Market ~$900 million in 2025 revenue Carefully managed re-refinery spread business Focused on providing environmentally friendly products to customers Closed loop offerings including lubricants, oil filters and antifreeze Growth D
Slide 15: Sustainability Driving Opportunities
Sustainability Driving Opportunities Demand from customers for “green” solutions and sustainable partners is growing Potential financial benefits beyond increased sales include cost savings, additional recycling and other areas Improvement in ESG ratings Avoid more than double our GHG footpr
Slide 16: Corporate Strategy
CORPORATE STRATEGY PEOPLE AND TECHNOLOGY CREATING A CLEANER, SAFER ENVIRONMENT 16
Slide 17: Complementary Growth Strategies Creating Shareholder Value
Complementary Growth Strategies Creating Shareholder Value Cross-Sell Expand Pursue Execute Cost, Foster Capture Our Network and Acquisitions Pricing and Innovation Emergency Solutions Suite of and Productivity Through Response Offerings Divestitures Initiatives Technology Opportunities PEOPLE AND T
Slide 18: Disciplined Capital Allocation Strategy – Driven by ROIC
Disciplined Capital Allocation Strategy – Driven by ROIC Invest capex to drive organic growth Evaluate acquisition and divestiture opportunities Execute authorized buyback plan Assess current debt structure and leverage PEOPLE AND TECHNOLOGY CREATING A CLEANER, SAFER ENVIRONMENT 18
Slide 19: Favorable Market Dynamics Support Growth
Favorable Market Dynamics Support Growth PEOPLE AND TECHNOLOGY CREATING A CLEANER, SAFER ENVIRONMENT 19
Slide 20: Financial Overview
FINANCIAL OVERVIEW PEOPLE AND TECHNOLOGY CREATING A CLEANER, SAFER ENVIRONMENT 20
Slide 21: Summary of Q1 Results
Summary of Q1 Results Best quarterly safety result in our history with a TRIR of 0.39 Revenue of $1.46B, driven by 4% growth in Environmental Services Net income of $63.2 million or EPS of $1.19 Adjusted EBITDA* was $247.9M; Adjusted EBITDA* margin of 17.0% Adjusted free cash flow* was ($7
Slide 22: Five-Year Revenue Performance
Five-Year Revenue Performance (in millions) $5,890 $6,031 $5,409 14% $5,167 15% 17% 19% $3,806 CAGR 20% 86% 12% 85% 83% 81% 80% 2021 2022 2023 2024 2025 SKSS ES PEOPLE AND TECHNOLOGY CREATING A CLEANER, SAFER ENVIRONMENT 22
Slide 23: Five-Year Adjusted EBITDA Performance
Five-Year Adjusted EBITDA Performance (in millions) $1,169.9 $1,116.9 9% $1,022.1 $1,012.6 10% 14% 24% $676.6 CAGR 91% 90% 15% 26% 86% 76% 74% 2021 2022 2023 2024 2025 SKSS ES * For a reconciliation of Adjusted EBITDA to net income, please refer to the Company’s Annual Report on Form 10-K filed with
Slide 24: Five-Year Margin Performance
Five-Year Margin Performance (in millions) $1,169.9 $1,116.9 $1,200.0 29.0% $1,022.1 $1,012.6 27.0% $1,000.0 25.0% $800.0 $676.6 23.0% $600.0 19.8% 19.4% 21.0% 18.7% 19.0% 19.0% $400.0 17.8% 17.0% $200.0 15.0% $0.0 13.0% 2021 2022 2023 2024 2025 Adjusted EBITDA* Adjusted EBITDA* Margin * For a recon
Slide 25: Five-Year ES Segment Margin Performance
Five-Year ES Segment Margin1 Performance $1,400.0 $1,343.8 (in millions) $1,267.5 46.0% $1,101.6 $1,200.0 41.0% $1,000.0 $953.1 36.0% $800.0 $649.5 31.0% 25.3% 25.9% $600.0 24.4% 22.8% 26.0% $400.0 21.0% 21.4% $200.0 16.0% $0.0 11.0% 2021 2022 2023 2024 2025 Adjusted EBITDA* ES Segment Margin 1 Excl
Slide 26: Balance Sheet Highlights
Balance Sheet Highlights (in millions) 3/31/26 12/31/25 Cash and securities $669.0 $953.7 Billed & unbilled receivables $1,305.4 $1,205.0 Accounts payable $464.2 $506.6 Current and long-term debt $2,774.0 $2,776.2 Environmental liabilities $229.5 $230.7 PEOPLE AND TECHNOLOGY CREATING A CLEANER, SAFE
Slide 27: Historical Adjusted Free Cash Flow
Historical Adjusted Free Cash Flow (in millions) 2021 2022 2023 2024 2025 Cash Flow from Operations $546.0 $626.2 $734.6 $777.8 $866.7 Capital Expenditures, net of disposals ($219.7) ($336.3) ($412.7) ($423.1) ($403.4) Cash investments in strategic growth $43.3 projects Third party transaction relat
Slide 28: Questions
Questions PEOPLE AND TECHNOLOGY CREATING A CLEANER, SAFER ENVIRONMENT 28
Slide 29: (NYSE: CLH)
(NYSE: CLH) 42 Longwater Drive Norwell, MA 02061 Jim Buckley SVP Investor Relations 781-792-5100 Email: Buckley.James@CleanHarbors.com www.cleanharbors.com PEOPLE AND TECHNOLOGY CREATING A CLEANER, SAFER ENVIRONMENT 29