EARLY WARNING PRESS RELEASE PURSUANT TO NATIONAL INSTRUMENT 62-103 - TAKE OVER BIDS AND ISSUER BIDS

Rhea-AI Summary

Patrick Dovigi, Chairman, President and CEO of GFL Environmental, announced an internal reorganization of the Dovigi Group's holdings of multiple voting shares (MVS) on October 31, 2024. The reorganization involved the Dovigi Group's holdings, which includes Mr. Dovigi, his family members, and discretionary trusts. The change was purely structural, with the Dovigi Group maintaining ownership of 11,812,964 MVS, representing 100% of outstanding MVS. The reorganization shifted from indirect ownership through holding entities to direct ownership and control, with no change in the total number of shares owned.

TORONTO, Oct. 31, 2024 /PRNewswire/ - Patrick Dovigi, Chairman of the board of directors, President and Chief Executive Officer of GFL Environmental Inc. ("GFL") announced that on October 31, 2024 certain holding entities beneficially owned and controlled by Mr. Dovigi, his family members and discretionary trusts settled by family members of Mr. Dovigi (collectively, the "Dovigi Group") completed an internal reorganization (the "Reorganization") involving the Dovigi Group's holdings of multiple voting shares ("MVS") of GFL. The Reorganization did not result in any changes to the Dovigi Group's aggregate ownership in GFL.

Immediately prior to the Reorganization, the Dovigi Group beneficially owned, indirectly though certain holding entities, 11,812,964 MVS, representing 100% of the issued and outstanding MVS.  Upon completion of the Reorganization, the Dovigi Group directly owns and controls 11,812,964 MVS, representing 100% of the issued and outstanding MVS.  There was no change to the number of MVS issued and outstanding or beneficially owned by the Dovigi Group as a result of the Reorganization.

Mr. Dovigi will file an early warning report with the securities regulators in each of the provinces and territories of Canada with respect to the forgoing matters pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, in connection with the issuance of this press release, a copy of which will be available under GFL's profile on SEDAR+ at www.sedarplus.com. A copy of the early warning report can be obtained by contacting GFL's Corporate Secretary by email at ir@gflenv.com or by telephone at 905-326-0101. The address of Mr. Dovigi is c/o GFL, 100 New Park Place, Suite 500, Vaughan, ON L4K 0H9.

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SOURCE Patrick Dovigi

FAQ

What changes occurred in GFL's MVS ownership after the October 31, 2024 reorganization?

There were no changes in total ownership. The Dovigi Group maintained ownership of 11,812,964 MVS (100% of outstanding MVS), only changing from indirect to direct ownership structure.

How many multiple voting shares (MVS) of GFL does the Dovigi Group control?

The Dovigi Group controls 11,812,964 MVS, representing 100% of GFL's issued and outstanding multiple voting shares.

What was the purpose of GFL's October 31, 2024 internal reorganization?

The reorganization was an internal structural change in how the Dovigi Group holds its MVS, shifting from indirect ownership through holding entities to direct ownership, with no change in total shares owned.