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February 25, 2015

Waste Management Announces Expiration and Final Results of Cash Tender Offer

HOUSTON — (BUSINESS WIRE) — Feb. 25, 2015 —
Waste Management, Inc. (NYSE:WM) announced today that its previously announced cash tender offer expired at 5:00 p.m. New York City time on February 24, 2015. At the expiration time, valid tenders had been received in the amounts set forth in the table below.

Click the image to view the table larger

Waste Management expects to accept for payment all notes validly tendered and not validly withdrawn in the tender offer and expects to make payment for the notes, including notes delivered in accordance with the guaranteed delivery procedures, in same-day funds on February 27, 2015.

Waste Management executed this tender offer along with its January make-whole redemption and the previously announced issuance of new senior notes, which is expected to close on February 26, 2015, to reduce its future interest costs and extend the maturity of its debt obligations. As a result of these transactions, in 2015 the company expects interest expense to be approximately $410 million, which is a pre-tax savings of approximately $60 million when compared with 2014.

Deutsche Bank Securities Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC served as the Dealer Managers for the tender offer. Global Bondholder Services Corporation served as the Depositary and Information Agent for the tender offer.

Forward Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements in this press release are discussed in our most recent Annual Report on Form 10-K.

Waste Management, Inc., based in Houston, Texas, is the leading provider of comprehensive waste management services in North America. Through its subsidiaries, the company provides collection, transfer, recycling and resource recovery, and disposal services. It is also a leading developer, operator and owner of landfill gas-to-energy facilities in the United States. The company’s customers include residential, commercial, industrial, and municipal customers throughout North America. To learn more information about Waste Management visit or

Source: Waste Management, Inc.

Waste Management
Ed Egl, 713.265.1656

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