Mr. Allen Gransch reports

SECURE SETS ELECTION DEADLINE FOR THE GFL TRANSACTION

Secure Waste Infrastructure Corp. has set the deadline for registered Secure shareholders to submit their elections in respect of the consideration to be received in connection with the previously announced plan of arrangement between Secure and GFL Environmental Inc. is 5 p.m. (Calgary time) on Monday, Aug. 31, 2026 (the election deadline).

• Registered shareholders who wish to make an election with respect to their preferred form of consideration to be received in connection with the transaction must deliver their completed letter of transmittal and election form and other required documents to the depository by Monday, Aug. 31, 2026, at 5 p.m. (Calgary time).
• Beneficial shareholders who wish to make an election should contact their broker, bank or other intermediary as soon as possible for instructions, as earlier deadlines may apply.

The transaction provides Secure shareholders with a choice to elect to receive, for each Secure common share held: (i) $24.75 in cash; (ii) 0.4195 of a GFL subordinate voting share; or (iii) a combination of $4.95 in cash and 0.3356 of a GFL subordinate voting share, in each case, plus a nominal mandatory cash amount of 0.01 cent per Secure common share.

The cash consideration and share consideration elections are subject to proration based on a maximum number of GFL subordinate voting shares and maximum amount of cash as set out in the plan of arrangement, such that the aggregate consideration paid to Secure shareholders will consist of 80-per-cent GFL subordinate voting shares and 20-per-cent cash. As a result of proration, a shareholder who elects all cash or all GFL shares may ultimately receive a combination of cash and GFL shares.

Secure shareholders who do not make a valid election by the applicable deadline will automatically be deemed to have elected the combination consideration of $4.95 in cash and 0.3356 of a GFL subordinate voting share for each Secure common share held, subject to rounding.

The closing of the transaction is subject to the satisfaction or waiver of the remaining closing conditions.

How to make an election

Registered shareholders

Registered shareholders who wish to make an election must follow the instructions in letter of transmittal and election form previously mailed to them, which is also available on Secure's profile on SEDAR+ and on the corporation's website.

To make a valid election, registered shareholders must ensure that their properly completed and signed letter of transmittal and election form, together with any applicable share certificates and/or DRS Advices and other required documents, is received by the depositary for the transaction, Computershare Investor Services Inc. (the depositary), before the election deadline.

All elections and deposits made under a letter of transmittal and election form are irrevocable and may not be withdrawn. However, an election made under a letter of transmittal and election form on or prior to the election deadline may be changed by depositing a new letter of transmittal and election form with the depositary on or prior to the election deadline. Should the transaction not proceed for any reason, the deposited certificates and/or DRS advices representing Secure common shares (if applicable) and other relevant documents shall be returned.

Registered shareholders who do not make a valid election by the election deadline will be deemed to have elected to receive the combination consideration. Such registered shareholders will still need to submit a properly completed and signed letter of transmittal and election form, together with any applicable share certificates and/or DRS Advices and other required documents, to the depository by no later than the third anniversary of the closing date of the transaction in order to receive the combination consideration they are entitled to receive following completion of the transaction.

Registered shareholders who have questions regarding completion or delivery of the letter of transmittal and election form should contact the depository using the contact information provided in the letter of transmittal and election form.

Beneficial shareholders

Most Secure shareholders hold their shares through a broker, investment dealer, bank, trust company, custodian, nominee or other intermediary, and are therefore beneficial shareholders.

Beneficial shareholders should not submit a letter of transmittal and election form directly to the depositary. Instead, they should contact the intermediary through which their Secure common shares are held for instructions on how to make their election.

Intermediaries may establish election deadlines that are earlier than the election deadline announced by Secure. Beneficial shareholders who wish to make an election are therefore encouraged to contact their intermediary as soon as possible.

Beneficial shareholders who do not make a valid election by the applicable deadline will be deemed to have elected to receive the combination consideration.

About Secure Waste Infrastructure Corp.

Secure is a leading waste management and energy infrastructure business headquartered in Calgary, Alta., with an extensive network of assets across Western Canada and North Dakota. Through its waste management segment, Secure operates long-life, permitted processing, recovery, and disposal infrastructure that supports the safe, efficient, and environmentally responsible management of waste from energy and industrial activity, including the recycling of metals and recovered oil and the use of specialty chemical solutions to reduce waste intensity and improve operational efficiency. Secure's energy infrastructure segment includes crude oil pipelines, terminals, and storage facilities that optimize, store and transport crude oil to market, enhancing customer value through product quality optimization, improved pricing and reduced emissions while protecting the environment.

Secure's shares trade under the symbol SES and are listed on the Toronto Stock Exchange.

We seek Safe Harbor.