Company: WCN
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001104659-25-032201
Chunk: 6

Company: Waste Connections, Inc.
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 6
---
 | You may vote “FOR” or “WITHHOLD” your vote from this proposal.                                                                                                                                                                                                                                                                                           
 The appointment of Grant Thornton LLP as our independent registered public accounting firm for 2025 and the authorization of the Board of Directors to fix Grant Thornton LLP’s remuneration may be approved by any one or more shareholders voting “FOR” the Company’s proposed independent registered public accounting firm (i.e., a plurality vote). | ​ | ​ | A“WITHHOLD”vote will not be counted as a vote cast for purposes of appointing the proposed independent registered public accounting firm.                                                                                                                                                                                                                                  | ​ |
| ​ | THE BOARD OF DIRECTORS RECOMMENDS YOU VOTE “FOR” THIS PROPOSAL 
 (See Page77)                                                   |   |   |                             | ​ |   |                                                                                                                                                                                                                                                                                                                                                          |   |   |                                                                                                                                                                                                                                                                                                                                                                            |   |

2025 Proxy • Waste Connections, Inc. 1

TABLE OF CONTENTS Proxy Summary 2024 Financial Performance Highlights We once again achieved outsized growth and value creation in 2024, driven by price-led organic growth in solid waste and complemented by strategic acquisition activity. We expanded adjusted EBITDA (2)margin expansion by 100 basis points to an industry-leading 32.5%. Revenue grew 11.2% from the prior year to $8.920 billion and drove net income attributable to Waste Connections of $617.6 million and adjusted EBITDA (2)up by 15.0% to $2.902 billion. Moreover, we maintained leverage (2)below 2.7 times debt-to-EBITDA as we completed record amounts of private company acquisition activity while also reinvesting in our most important assets, our people, and drove down employee turnover and safety incident rates. (2) This Proxy Statement includes certain measures that do not have a standardized meaning and are not defined by GAAP and, therefore, may not be comparable to similar measures used by other companies. Such measures include adjusted EBITDA and adjusted free cash flow, each of which is a non-GAAP financial measure, and Leverage Ratio (total debt to EBITDA), a non-GAAP ratio. These measures are not a substitute for, and should be used in conjunction with, GAAP financial measures. This section should be read in conjunction with information presented in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, under the heading “Non-GAAP Financial Measures