GFL Environmental prices secondary offering at $45.15 per share

GFL Environmental Inc. (NYSE: GFL) (TSX: GFL) announced the pricing of a secondary offering by selling shareholders of 16,611,295 subordinate voting shares at $45.15 per share. The selling shareholders include BCEC-GFL Borrower (Cayman) LP, Ontario Teachers' Pension Plan Board, GFL Borrower II (Cayman) LP and entities affiliated with HPS Investment Partners, LLC.

RBC Capital Markets, LLC and RBC Dominion Securities Inc. will serve as underwriters for the offering in the United States and Canada, respectively.

The company also agreed to purchase 1,275,000 shares for cancellation from RBC Dominion Securities Inc. under the offering. GFL's board of directors unanimously approved the share repurchase upon recommendation from a special committee of independent directors.

The shares will be offered across all Canadian provinces and territories through a prospectus supplement to the company's base shelf prospectus. GFL filed a Form F-10 registration statement with the U.S. Securities and Exchange Commission under the multi-jurisdictional disclosure system between Canada and the United States.

The prospectus supplement will be available on November 24, 2025, through SEDAR+. The base shelf prospectus is currently accessible through the same platform.

GFL is headquartered in Vaughan, Ontario, and operates as an environmental services company in Canada and 18 U.S. states with approximately 15,000 employees.

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