Waste Management : WM 2022 Sustainability Report -

Always Working

For A Sustainable

Tomorrow®

2022 Sustainability Report

Contents

Year in Review............	3
Climate Impact........	11
Circularity...............	19
Social Impact...........	25
People First............	30
Appendix...................	38

About This Report

WM is committed to consistent and meaningful public disclosure and discussion of our sustainability progress through the publication of our annual Sustainability Report.

This report has been prepared in accordance with the Global Reporting Initiative (GRI) Standards: Core Option, as well as in alignment with the Sustainability Accounting Standards Board (SASB) guidelines for the infrastructure sector. We publish updates in three formats:

• This annual Sustainability Report, which details progress on our most material issues over the past year, is available as a PDF.
• An Environmental, Social and Governance(ESG) Resource Hubthat provides detailed information and data related to many aspects of our ESG performance, policies and initiatives. The ESG Resource Hub also houses WM's GRI index, SASB and Task Force on Climate-related Financial Disclosures (TCFD) reports, an ESG Data Center and an archive of past reports.
• A companionwebsiterelated to this report, sharing more stories around the progress we are making.

This report generally covers ESG performance for 2021 and early 2022 and, unless otherwise noted, the report boundary is WM's wholly owned operations, which are in the United States, Canada and India. All data is for the year ended December 31, 2021, except where noted.

GRI SASB TCFD

YEAR IN REVIEW

WM At-A-Glance

(as of and for the year ended December 31, 2021)

Financial

Recycling Facilities

49

single-stream recycling facilities

27

commercial facilities

Energy

10,832	102
alternative	landfill gas-to-
fuel vehicles	electricity facilities
177	26

Environmental Conservation

73		70
certified	wildlife	pollinator
habitat programs
programs

177

13,721

total revenue	cash from operations
$1.9B	$2.3B
capital expenditures	returned to shareholders

11

other facilities

9

construction and demolition recycling facilities

natural gas fueling stations

16

Renewable Natural Gas facilities

landfill gas-to- industrial customers as a direct substitute for fossil fuels

active habitat,	acres actively
species and	managed
education	for wildlife
certified projects	preservation

Landfills and Transfer Stations

340	255
transfer stations	active solid waste landfills

5

active hazardous waste landfills

26

composting facilities

5

Organics Material Recovery Facilities, including WM CORe® sites

4

Green waste processing sites

4

Wood waste processing sites

People

48,348

team members

Community Vitality

$12.8M	$1.5M
in charitable giving	in-kind services donated

1,096

community events hosted and/or participated in by WM

Education

536,738

WM (WM.com) is North America's largest comprehensive waste management environmental solutions provider. Previously known as Waste Management and based in Houston, Texas, WM is driven by commitments to put people first and achieve success with integrity. The company, through its subsidiaries, provides collection, recycling and disposal services to millions of residential, commercial, industrial and municipal customers throughout the U.S. and Canada. With innovative infrastructure and capabilities in recycling, organics and renewable energy, WM provides environmental solutions to and collaborates with its customers in helping them achieve their sustainability goals. WM has the largest disposal network and collection fleet in North America, is the largest recycler of post-consumer materials and is the leader in beneficial reuse of landfill gas, with a growing network of renewable natural gas plants in North America. WM's fleet includes nearly 11,000 natural gas trucks-the largest heavy-duty natural gas truck fleet of its kind in North America-where more than half are fueled by renewable natural gas.

people, including K-12 youth and college students, participated in WM-hosted education and community betterment activities

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CEO Message

Investing in sustainability today to create a better tomorrow.

WM's brand promise is Always Working For A Sustainable Tomorrow®. We live this promise through the services we provide, the sustainable solutions we offer, the innovations we invest in, the people we hire and the future we're committed to. Through our longtime focus on finding sustainable solutions, WM continues to evolve to become so much more than an environmental services company. We aspire to be a For TomorrowSM company, committed to creating a more sustainable world.

Making real strides in sustainability requires us to re-think waste. Across our business, we work to minimize our environmental impact by reducing carbon emissions across the value chain, investing in technology and automation that differentiates us, and helping to educate others to act more sustainably. We also provide analytics to customers to inform their environmental strategies, reduce costs, minimize risk and divert more materials for their next best use.

To be successful in these endeavors, particularly in a challenging labor market, we must create an accepting and inclusive culture. Throughout 2021, we continued to help our people thrive.

We launched the first enterprise-wide frontline leadership development program, as well as three new Impact Groups to connect and uplift multicultural, female and LGBTQ+ employees. Additionally, we contributed $12.8 million in charitable giving, $1.5 million in donated services and engaged with community members at nearly 1,100 events.

Because we're Always Working For A Sustainable Tomorrow®, as we celebrate our continued progress, we are already focused on the future. I am confident that placing sustainability at the center of how we create growth and value will enable a positive impact for our people and the planet for years to come.

Jim Fish

President and Chief Executive Officer

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CSO Message

Collaborating for sustainable growth.

Something that is distinctive about WM's business is that we serve such a broad and diverse base of customers. From large national accounts to municipalities to the local pizza shop, each has different needs. We have found, however, that there are three key things that nearly every WM customer wants: a dedicated partner, deeper insights to help them run their business and services that make the biggest impact possible.

WM's new sustainable growth strategy will deliver each of those elements by embracing new technology and incorporating sustainability into all that we do. It will propel our company into the future-taking us from a service provider to a true sustainability partner.

With this new strategy, we aim to help customers increase circularity and accelerate their decarbonization goals. Along with enhanced circular logistics that position us to lead new recycled materials markets as they emerge, we plan to invest in integrated organics and recycling infrastructure. We are also modernizing our landfills and expanding our network of renewable natural gas facilities. Together, these robust solutions will make us a better advisor to our customers while supporting WM's own sustainability goals. Recently, we announced a $1.625 billion

planned investment to expand our renewable energy and recycling businesses over the next four years. By 2026, we expect to see six-fold growth in the amount of renewable natural gas (RNG) produced at WM-operated landfills, along with 25% growth in the tons of materials that we divert for reuse.

In 2021, we were proud to achieve several of the targets we set in 2019, including working toward emissions reductions, and expanding our circularity solutions. We continue to enhance safety in the workplace and inclusion, equity and diversity efforts, while investing in social impact programs. In this report, I'm pleased to share our new ESG priorities for 2030 and announce new sustainability goals.

We are on a journey that will evolve as we build, grow and scale new sustainable services. I like to say that our work helps enable vibrant communities, and through our new strategy and priorities, we will continue to do so for generations to come.

Tara Hemmer

Chief Sustainability Officer

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