REPUBLIC SERVICES Business Summary

Republic Services, Inc. (RSG) operates as the second-largest provider of integrated environmental services in North America, generating revenue primarily through a subscription-based model for waste collection and fee-based disposal and recycling services. The company’s business is organized into three primary segments: Group 1 (Western United States), Group 2 (Eastern United States), and Environmental Solutions, which focuses on hazardous waste and specialized industrial services. As of February 2026, Republic Services maintains a robust infrastructure including approximately 208 active landfills, 248 transfer stations, and 75 recycling centers, with a strategic emphasis on expanding its "Polymer Centers" and renewable natural gas (RNG) projects. Its primary direct competitors include industry leader Waste Management (WM), Waste Connections (WCN), GFL Environmental, and Casella Waste Systems (CWST). Republic distinguishes itself through high-density route efficiency and a significant pivot toward circular economy solutions, maintaining a dominant market share just behind WM. The company was founded in 1996 by H. Wayne Huizenga as a spin-off from Republic Industries and has since scaled through aggressive consolidation, most notably its 2008 merger with Allied Waste. The current leadership team is led by President and CEO Jon Vander Ark, a former McKinsey & Company partner and Harvard Law graduate who has spearheaded the company’s digital and sustainability transformation. Key executives include Executive Vice President and CFO Brian DelGhiaccio, who oversees financial strategy and risk management, and EVP and COO Gregg Brummer, responsible for field operations and fleet management. The board is chaired by Manny Kadre and includes notable members such as Michael Larson, the Chief Investment Officer for Bill Gates’s Cascade Investment, which remains the company’s largest shareholder with an approximate 35% stake. In February 2026, the board further strengthened its international and digital expertise with the appointment of Ian Craig, CEO of Coca-Cola FEMSA.