Waste Management Announces Consideration for Cash Tender Offer

Waste Management, Inc. (NYSE:WM) announced today the consideration for each series of notes subject to the previously announced cash tender offer by Waste Management and its wholly owned subsidiary, Waste Management Holdings, Inc. (“WMH”). The consideration was calculated by the Dealer Managers at 2:00 p.m. New York City time today.

The consideration for each $1,000 principal amount of notes validly tendered and accepted for payment pursuant to the tender offer is set forth in the table below, determined in the manner described in the Offer Documents by reference to the applicable fixed spread specified for that series in the table below over the yield based on the bid side price of the applicable U.S. Treasury Security specified in the table below for that series. Holders whose notes are purchased will also receive accrued and unpaid interest thereon from the applicable last interest payment date up to, but not including, the settlement date, which is expected to be May 23, 2019.

Issuer

Title of Security

CUSIP Number

Principal Amount Outstanding

Reference U.S. Treasury Security

Reference U.S. Treasury Security Yield

Bloomberg Reference Page

Fixed Spread

Consideration

WMH(1)

7.10% Notes due 2026

92929QAQ0

$304,378,000

2.375% U.S. Treasury due May 15, 2029

2.416%

FIT1

85 bps

$1,243.83

WM

7.00% Senior Notes due 2028

902917AH6

$394,869,000

2.375% U.S. Treasury due