#1R REPUBLIC SERVICES R Investor Presentation March 2022#2Forward Looking Statements Certain statements and information included herein constitute "forward-looking statements," including statements with respect to our anticipated 2022 financial results, within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Words such as "will," "expect," "anticipate," "estimate," "guidance" and similar words and phrases are used in this presentation to identify the forward-looking statements. These forward-looking statements, although based on assumptions that we consider reasonable, are subject to risks and uncertainties that could cause actual results, events or conditions to differ materially from those expressed or implied by the forward-looking statements. Although we believe that the expectations reflected in the forward- looking statements are reasonable, we can give no assurance that the expectations will prove to be correct. Other factors which could materially affect our forward-looking statements can be found in our periodic reports filed with the Securities and Exchange Commission. Stockholders, potential investors and other readers are urged to consider these factors carefully in evaluating our forward- looking statements and are cautioned not to place undue reliance on forward-looking statements. The forward-looking statements made herein are only made as of the date of this presentation, and except as required by law, we undertake no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances. 2 Investor Presentation REPUBLIC SERVICES#3• National vertically integrated • operations and high-quality asset base Focused on customer needs and sustainability to drive profitable growth Investment. Advancing use of technology Thesis • • to differentiate service offerings and drive operational efficiencies Resilient business that benefits in a strengthening economy Consistent earnings and free cash flow growth 3 | Investor Presentation REPUBLIC SERVICES#4MARKET Overview Provide essential services in an $91+ billion environmental services industry Continued opportunity for consolidation to drive growth and build scale REPUBLIC SERVICES Strong and predictable free cash flow 80% Approximately 80% of revenue has an annuity-type profile National footprint with diversified exposure to franchise, large urban and small to mid-sized markets 4 | Investor Presentation REPUBLIC SERVICES#5Business Foundation Market Position #1 or #2 leading market position in 95% of the markets we operate Vertically integrated in 90% of the markets we operate Operating Model Standardized processes to deliver operational excellence Matrix Organization; 176 Business Units with individual P&Ls Talent Attracting and retaining the best talent High employee engagement score of 84% 68% internalization rate Nearly $3B invested in acquisitions over last 5 years Safety performance 38% better than industry average Culture of inclusion and diversity; 47% ethnically diverse Robust learning and development programs 5 Investor Presentation REPUBLIC SERVICES#6Strategy Designed to generate profitable growth by partnering with customers to create a more sustainable world Differentiating Capabilities CUSTOMER ZEAL Drive customer loyalty by offering differentiated products and services specifically designed to meet our customers' needs | NPS remains well above pre-pandemic scores DIGITAL Provide a consistent experience across our business while enabling customers to do business with us the way they prefer RISE tablets being implemented across fleet SUSTAINABILITY Provide customers with sustainable solutions that support a cleaner, safer and healthier world Ambitious 2030 Sustainability Goals 6 | Investor Presentation REPUBLIC SERVICES#7Financial Performance Adjusted EPS1 $4.25 Adjusted Free Cash Flow¹ $3.75 $3.56 $3.30 $3.25 $2.75 $4.17 $1,515 3-Yr EPS CAGR $1,500 of 11% $1,375 $1,236 $1,250 $1,174 $1,125 $1,000 2019 2020 2021 $2.25 2019 2020 2021 Return on Invested Capital 8.9% 8.6% 8.3% 8.3% 8.2% 8.0% 7.7% 2019 2020 5-Year Total Shareholder Return (period ended December 31st) 175% 8.8% Consistent ROIC growth 150% 125% 100% 168% 3-Yr FCF CAGR of 10% Outpaced S&P 133% 75% 2021 RSG S&P 500 1 See "Reconciliation of Non-GAAP Measures" in appendix 7 | Investor Presentation REPUBLIC SERVICES#8Where to Compete Focusing on growth opportunities in our most profitable lines of business $91B $24B+ U.S. Other Environmental Services Current addressable market: $67B U.S. recycling and solid waste $24B+ U.S. other environmental services $67B U.S. Recycling & Solid Waste Based on management estimates 8 Investor Presentation Potential to expand addressable market with our differentiated capabilities • • Recycling and Solid Waste: Prioritize investment in verticals with above average growth rates and higher return profiles Environmental Solutions: Higher growth opportunity • Focused on industrial and manufacturing sectors REPUBLIC SERVICES#9Customer Zeal Customer centric culture with short and long-term initiatives to win with customers and drive loyalty • Seamless sales and service resolution • Setting and exceeding customer expectations Empowering employees to deliver with zeal Expect to drive significant value by increasing customer retention and attracting new business 00000 NPS remains well above pre- pandemic scores 95% Customer retention rate Embedded in GM compensation plans 9 Investor Presentation REPUBLIC SERVICES#10Hi There! 1532 Snack Bar Ave Digital Using technology to differentiate service offerings with customers and drive operational efficiencies lcome! REPUBLIC SERVICES 13 Congrats on your anniversary! We've been hard at work with a 99% on time pickup rate Customer Care Welcome Package Capture Pricing Tool Centralized Customer Service Connect Driver Communication Platform 2022+ RISE Tablets Connecting the customer with the cab enables: Real-time communication Proactive resolution Demand anticipation Core System Modernization 2014 2015 -------- 2016 2018 2016 2020 2021 App & Online Account Utilized by 2.5M customers E-Commerce 49% growth in online sales since 2019 RISE Dispatch Platform Over 10.5K efficiently managed routes RISE Tablets 1M+ automated customer notifications sent 10 | Investor Presentation REPUBLIC SERVICES#11110M Sustainability Driving profitable growth by providing customers with environmentally responsible solutions Tons of material handled annually Operate 71 recycling centers 2B Pounds of organic waste processed at 10 compost. facilities 77 Landfill gas & renewable energy projects 21% of fleet powered by natural gas and working with multiple partners on EV technology 2030 Climate Leadership Goals: 35% Reduce absolute Scope 1 and 2 greenhouse gas emissions 35% * APPROVED BY SBTi* 10% Interim reduction target by 2025 40% Increase recovery of key materials by 40% on a combined basis 50% Increase biogas sent to beneficial reuse by 50% Ambitious 2030 sustainability goals aligned with the United Nations' Sustainable Development Goals 11 | Investor Presentation REPUBLIC SERVICES#12Capital Allocation Efficient and balanced approach to cash utilization which drives shareholder value $2.2 billion invested in acquisitions over last 3 years Increased annual dividend for 18 consecutive years $2.3 billion cash returned to shareholders over last 3 years 12 | Investor Presentation • . Continue balanced approach to capital allocation Accelerated M&A of Capital & ted M&A Accelerated Organic growth Tuck-ins New platforms Business Growth • • Improved FCF • Improved market vertical mix Differentiating capabilities Commitment to FCF conversion REPUBLIC SERVICES#13Acquisition of US Ecology Continuing to expand environmental solutions footprint and capabilities with the pending acquisition of US Ecology Proforma Environmental Solutions Revenue 5% Energy Waste 40% Recycling, Treatment & Disposal $1.4B Combined Revenue Based on management estimates 13 | Investor Presentation Vertically integrated national platform Cross-selling opportunity estimated at $75M-$100M 55% Field Services $40M expected cost synergies 00000 Immediately accretive with double-digit return REPUBLIC SERVICES#14Financial Overview REPUBLIC SERVICES#15FY 2022 Guidance Guidance¹ Adjusted Diluted EPS² $4.58 - $4.65 Adjusted Free Cash Flow2 - $1,625 $1,675 million Average Yield Volume 3.4% 1.5% - 2.0% Margin Expansion Acquisition Investment 1 Guidance does not contemplate the impact from the pending acquisition of US Ecology, Inc. 2 See "Reconciliation of Non-GAAP Measures" in appendix 30bps - 40bps $500 million 15 | Investor Presentation REPUBLIC SERVICES#16Revenue by Market Type Balanced portfolio across market types Franchise 28% • Sole service provider • Long-term contracts Optimal operating density Market leader Small & Mid-Sized 33% Vertical integration Strong operating density . Large Urban Vertical integration 37% Environmental Solutions 16 | Investor Presentation • 2% • More competitive Outsized growth opportunity Highly fragmented service providers REPUBLIC® SERVICES#17Revenue by Line of Business Environmental Solutions 2% Approximately 80% of revenue has an annuity-type profile Transfer & Landfill 19% Collection business Recycling¹ 4% represents ~75% of total revenue 1 Recycling includes recycling processing and commodity sales 17 | Investor Presentation Other 2% Small Container 30% Temporary Large Container 7% Recurring Large Container 14% Residential 22% REPUBLIC SERVICES#18Pricing Trends Open Market (50%): • Secure price increases Pricing Mechanism Alt Index¹ 9% CPI directly with customer Greater pricing power 6.0% 2021 Core Price Restricted Pricing (50%): 17% Other Restricted 24% Open Market 50% Pricing Trends 6% Converting CPI based contracts to an alternative index¹ or a fixed rate of 3% 4% or greater which better reflects our costs 2% D 41% Converted 1 Alternative Index includes Water/Sewer/Trash and Garbage/Trash 18 | Investor Presentation 0% 2017 2018 Average Yield 2019 2020 Core Price 2021 REPUBLIC SERVICES#19Volume Trends Volume driven by: . Population growth Household formation New business formation Resilient during a downturn Highly correlated to housing starts 1 Correlation excludes 2020 results 19 | Investor Presentation RSG Volume Growth RSG Volume Growth Volume Growth vs. Housing Starts Growth (lagged by one year) 4% 30% 15% 0% (4%) (8%) 0% (15%) 90% Correlation¹ (30%) (12%) (45%) '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 RSG Volume Growth Housing Starts Growth Volume Growth vs. GDP Growth 4% 4% 0% (4%) (8%) (12%) 75% Correlation¹ '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 IRSG Volume Growth Housing Starts Growth 2% 0% (2%) (4%) GDP Growth REPUBLIC SERVICES Housing Starts Growth#20Acquisition Growth Acquisition Investment $1,200 Tuck-in acquisitions $1,063 experience significant synergy capture $900 within first year $613 Expand our footprint $600 and capabilities $479 Dedicated M&A team $300 has built a robust pipeline 20 | Investor Presentation $0 2019 2020 2021 Purchase Price ($M) REPUBLIC SERVICES#21Margin & Free Cash Flow Adjusted EBITDA Margin¹ Pricing in excess of 31% cost inflation 30% 29% 28.1% Reducing recycled 28% commodity price 27% volatility 26% 2019 29.4% 2020 30.0% 2021 Effective cost Free Cash Flow Conversion¹ management 46% 44.8% Opportunity to further 44% improve free cash flow 42% 41.3% 40.6% conversion 40% 38% 2019 2020 2021 1 See "Reconciliation of Non-GAAP Measures" in appendix 21 | Investor Presentation REPUBLIC SERVICES#22Debt & Liquidity $5,000 $4,000 $3,000 $2,000 $1,000 $0 2022 2023 2024 2025 ■Senior Notes ■IRBS 2026 Credit Facilities 2027 2028 Investment grade credit rating 22 | Investor Presentation 2029+ As of December 2021 Average cash interest Leverage ratio of 2.9x rate of 2.7% REPUBLIC SERVICES#23Tax Related Expense Equivalent Tax Impact¹ 30% Equivalent Tax Impact Includes tax provision and non-cash charges² associated with solar investments 26% 26% 25% 23% $120M $178M 20% $118M 21% 15% 17% 16% 2021 non-cash solar charge of $178M 10% Expect long term equivalent tax impact of 27% $450 2020 2021 ■Income Tax Provision Cash Taxes³ $330M-$360M 2022 Est Non-Cash Solar Charge $300 Cash Tax $165M 2020 includes tax refunds $150 $0 2020 $305M 2021 1 Includes both the effective tax rate for income tax provision included in adjusted earnings per 8K filings and the non-cash solar charge 2 Charge recorded in the "Loss from unconsolidated equity method investment" on the Income Statement 3 Represents adjusted cash taxes included in adjusted free cash flow per 8K filings 23 | Investor Presentation 2022 Est REPUBLIC SERVICES#24Appendix REPUBLIC SERVICES#25EPS Reconciliation of Non-GAAP Measures FY 2019 FY 2020 FY 2021 Adjusted Diluted EPS: Diluted EPS as reported - $3.33 $3.02 $4.04 Loss on extinguishment of debt 0.00 0.23 0.00 Restructuring charges 0.04 0.05 0.04 Loss (gain) on business divestitures and impairment, net (0.03) 0.21 0.02 Withdrawal costs multiemployer pension 0.00 0.08 0.00 Fire-damage related costs 0.02 0.00 0.00 Accelerated vesting of comp expense for CEO transition 0.00 0.00 0.07 Bridgeton insurance recovery (0.06) (0.03) 0.00 Adjusted Diluted EPS $3.30 $3.56 $4.17 25 | Investor Presentation REPUBLIC SERVICES#26Free Cash Flow Reconciliation of Non-GAAP Measures FY 2019 FY 2020 FY 2021 Adjusted Free Cash Flow: ($ in millions) Cash provided by operating activities Property and equipment received $2,352.1 $2,471.6 $2,786.7 (1,215.8) (1,240.6) (1,303.6) Proceeds from sales of property and equipment 21.7 30.1 19.5 MEPP withdrawal liability payments, net of tax 0.0 25.4 0.0 Restructuring payments, net of tax 7.8 11.5 12.7 Divestiture related tax (benefits) payments 7.8 (9.7) (0.1) Bridgeton insurance recovery, net of tax 0.0 (26.4) 0.0 Cash tax benefit for debt extinguishment and other related costs 0.0 (26.0) 0.0 Adjusted Free Cash Flow $1,173.6 $1,235.9 $1,515.2 Free Cash Flow Conversion (adjusted free cash flow / adjusted EBITDA) 40.6% 41.3% 44.8% 26 | Investor Presentation REPUBLIC SERVICES#27EBITDA Reconciliation of Non-GAAP Measures FY 2019 FY 2020 FY 2021 Adjusted EBITDA: ($ in millions) Net income attributable to Republic Services, Inc. Net income attributable to non-controlling interests Provision for income taxes Other income, net Interest income Interest expense Depreciation, amortization and depletion Accretion $1,073.3 $967.2 $1,290.4 0.5 2.4 1.9 222.0 173.1 282.8 (6.4) (4.1) 0.5 (6.4) (5.2) (2.5) 392.0 355.6 314.6 1,040.5 1,075.9 1,185.5 81.9 82.9 82.7 Loss from unconsolidated equity method investment Loss on extinguishment of debt and other related costs Restructuring charges 112.2 118.2 188.5 0.0 101.9 0.0 14.2 20.0 16.6 Loss (gain) on business divestitures and impairments, net (14.7) 77.7 0.5 Incremental contract startup costs - large municipal contract Fire-damage related costs 0.7 0.0 0.0 7.7 0.0 0.0 Withdrawal costs - multiemployer pension 0.0 34.5 0.0 Accelerated vesting of compensation expense for CEO transition 0.0 0.0 22.0 Bridgeton insurance recovery (24.0) (10.8) 0.0 Adjusted EBITDA $2,893.5 $2,989.3 $3,383.5 27 | Investor Presentation REPUBLIC SERVICES#282022 Guidance Reconciliation of Non-GAAP Measures FY 2022 Adjusted Diluted Earnings Per Share: Diluted earnings per share Restructuring charges Adjusted diluted earnings per share Adjusted Free Cash Flow: Cash provided by operating activities Property and equipment received Proceeds from the sale of property and equipment Restructuring payments, net of tax Adjusted free cash flow 28 Investor Presentation $4.53 $4.60 - 0.05 $4.58 - $4.65 - $2,910 $2,980 - (1,320 1,340) 20 15 $1,625 - $1,675 REPUBLIC SERVICES#29National Footprint 41 States 356 Collection Operations 239 Transfer Stations 29 | Investor Presentation CA 198 WA ME MT ND VT OR MN NH ID WI SD NY MA WY MI CT RI IA PA NJ NE NV OH DE UT IL IN MD CO WV VA KS MO KY NC TN OK AZ NM AR SC MS AL GA TX LA 6 FL Active Landfills Saltwater Disposal Wells 71 7 Recycling Processing Centers Deep Injection Wells 3 77 Treatment, Recovery and Disposal Facilities Landfill Gas and Renewable Energy Projects REPUBLIC SERVICES#30BCD 35K Employees 5M Average Daily Pickups. 41 States 6M Tons Of Materials Processed Per Year 16K Trucks In Our Fleet ກ 198 Active Modern-Day Landfills 71 Recycling Centers 77 Renewable Energy Projects 356 Collection Operations 30 | Investor Presentation REPUBLIC SERVICES#312030 Sustainability Goals SAFETY PEOPLE CLIMATE LEADERSHIP COMMUNITIES Safety Amplified 0 Employee Fatalities <2.0 Reduce our OSHA Total Recordable Incident Rate (TRIR) to 2.0 or less by 2030 Engaged Workforce 88% Achieve and maintain employee engagement scores at or above 88% by 2030 Climate Leadership 35% Reduce absolute Scope 1 and 2 greenhouse gas emissions 35% by 2030 (2017 baseline year) *APPROVED BY SBTI* 10% Interim reduction target by 2025 40% Increase recovery of key materials by 40% on a combined basis by 2030 (2017 baseline year) 50% Increase biogas sent to beneficial reuse by 50% by 2030 (2017 baseline year) Charitable Giving 20M Positively impact 20 million people by 2030 31 | Investor Presentation REPUBLIC SERVICES#32Industry Leading Performance CDP DISCLOSER 2020 TOP 100 FORTUNE WORLD'S MOST ADMIRED COMPANIES BARRON'S Most Sustainable Companies 2021 2021 People COMPANIES THAT CARE Great Place To Work®Ⓡ Certified AUG 2021-AUG 2022 USA TM 3BLE DIA 100 BEST CORPORATE CITIZENS 2021 Member of Dow Jones Sustainability Indices Powered by the S&P Global CSA Sustainability Yearbook Member 2021 S&P Global 32 | Investor Presentation REPUBLIC SERVICES