‘Waste Connections’ Deals With

‘Waste Connections’ Deals With

Waste Connections, Inc. (TSX/NYSE: WCN) (“Waste Connections” or the “Company”).

For the annual renewal of its normal course issuer bid (the “NCIB”). WNC today announced that it has received approval from the Toronto Stock Exchange (the “TSX”). This renewal will follow on the conclusion of the Company’s current NCIB expiring August 7, 2019.

Pursuant to the renewed NCIB, Waste Connections proposes to purchase through the facilities of the TSX. The New York Stock Exchange (the “NYSE”) and/or alternative Canadian trading systems. From time to time over the next 12 months, if considered advisable, up to 13,184,474 common shares, being 5% of its 263,689,490 issued and outstanding shares as of August 1, 2019.

In Accordance With TSX Rules

Any daily repurchases would be limited to a maximum of 79,933 common shares. Which represents 25% of the average daily trading volume on the TSX of 319,734 common shares for the period from February 1, 2019 to July 31, 2019. The TSX rules also allow the Company to purchase, once a week, a block of common shares not owned by any insiders. Which may exceed such daily limit. So what is the maximum number of shares which can be purchased per day on the NYSE? That would be 25% of the average daily trading volume for the four calendar weeks preceding the date of purchase. This though is subject to certain exceptions for block purchases.

Waste Connections is authorized to make purchases during the period of August 8, 2019 to August 7, 2020. Or, until such earlier time as the NCIB is completed or terminated at the option of the Company. Any common shares Waste Connections purchases under the NCIB will be purchased on the open market through the facilities of the TSX, the NYSE and/or alternative Canadian trading systems at the prevailing market price at the time of such transaction.

Management

Management’s decisions regarding any share repurchases will be based on market conditions, share price and other factors, including potential acquisition growth opportunities. The NCIB has been renewed because Waste Connections believes that the repurchase of common shares is consistent with its objective to return capital to shareholders over time. All common shares purchased through the NCIB will be returned to treasury for cancellation.

Under the current NCIB that commenced on August 8, 2018 and that will end on August 7, 2019. The Company sought and obtained approval from the TSX to purchase up to 13,174,976 common shares for cancellation. Since the commencement of the current NCIB, the Company has purchased and cancelled a total of 237,230 common shares. All through open market transactions on the NYSE at a volume-weighted average share price of approximately US$71.19. Since the commencement of the current NCIB, the Company has not purchased any common shares through the facilities of the TSX.

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Ivy Heffernan

Ivy Heffernan, student of Economics at Buckingham University. Junior Analyst at HeffX and experienced marketing director.

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