W ASTE C ONNECTIONS I NC. Connect with the Future Credit Suisse Industrial & Environmental Services Conference May 14, 2013

SAFE HARBORS STATEMENT

WCN: INVESTMENT HIGHLIGHTS Third largest solid waste and leading oilfield waste company in the U.S.  $5 billion in assets and 7,000 employees Differentiated strategy  Only company focused on secondary and exclusive markets  Expanding presence in niche segments such as E&P waste  Solid waste predictability + oilfield waste growth potential Differentiated results  Sector-leading EBITDA, EBIT and free cash flow margins  Sector-leading conversion of EBITDA to free cash flow Well positioned for additional strategic opportunities  Investment grade rated => tremendous access to low cost growth capital Proven management team creating substantial stockholder value

WCN: FINANCIAL HIGHLIGHTS *A Non-GAAP measure; see appendix for reconciliation schedules.

SOLID WASTE: A DIFFERENTIATED STRATEGY

SOLID WASTE: 87% OF REVENUE Over 2 million customers across 30 states

SOLID WASTE INDUSTRY TENETS $55 billion revenue => still consolidating  ~50% publicly traded companies / remainder private and municipalities  ~40% concentrated in two largest companies Solid waste is a commodity business  Lowest price provider wins  Basic level of service expectation by customers Scale matters locally  Market share = route density Success is driven by:  Market selection  Asset and contractual positioning  Execution at the local level

OUR DIFFERENTIATED STRATEGY Exclusive markets  Vertically integrated, or  Non-integrated Competitive markets  Secondary markets with  High market share and  Vertically integrated or disposal neutral What we wish to avoid:  Urban markets  #3 or worse position in a market  Collection-only position in a competitive market with competitor- controlled disposal

TARGETING ATTRACTIVE MARKETS Integrated OperationsNon-Integrated Operations Exclusive Markets: - #1 EBITDA margin - #1 EBIT margin - #1 FCF margin - #1 ROA -#3 EBITDA margin -#2(tie) EBIT margin -#2 FCF margin -#2 ROA Competitive Markets: - #2 EBITDA margin - #2(tie) EBIT margin - #3 FCF margin - #3 ROA -#4 EBITDA margin -#4 EBIT margin -#4 FCF margin -#4 ROA 90% of WCN Solid Waste Note: Rankings reflect relative attractiveness to WCN

STRATEGIC IMPLICATIONS Consistent pricing Lower customer churn rates  Comparably better core price + volume growth Higher margins and free cash generation Greater visibility and predictability Attractive returns on invested capital Our success: not dependent on behavior or execution of other national players Our strategy: resilient in a weak economy; levered to improving economy

E&P WASTE: MARKET LEADER IN TREATMENT, DISPOSAL & RECOVERY

R360 / E&P WASTE: 13% OF REVENUE Strong asset positioning across diverse oil-rich basins

R360 / E&P WASTE HIGHLIGHTS WCN => entered E&P waste business in 2010; expanded presence across a dozen of our landfills, and then again thru the R360 acquisition in October 2012 R360 => market leader in higher growth oilfield waste treatment, recovery and disposal industry  Diversity across multiple oil-rich basins, including Permian, Bakken & Eagle Ford  Strong asset positions within targeted basins => 26 facilities  Pursuing permits for several greenfield development opportunities High margin disposal-oriented business => strong cash flows Major sector growth drivers:  Increased drilling in unconventional areas => higher waste intensity per well  Heightened customer awareness of waste stream management  Potential increasing environmental regulations and enforcement

FINANCIAL TAKE-AWAYS Unique combination of industry-leading margins (EBITDA, EBIT and free cash flow) and growth from:  Price + increasing MSW volumes => levered to improving economy;  Changes to or enforcement of E&P waste regulations;  Potential newly permitted E&P waste facilities;  Potential MSW and E&P waste acquisitions; and  Return of capital to stockholders. Strong conversion of EBITDA to free cash flow Current priority for deployment of excess capital:  Acquisitions and construction of newly permitted E&P waste facilities;  Debt reduction; and  Share repurchases. Track record for increasing quarterly cash dividends every October  Dividends account for less than 20% of our free cash flow 15

Q HIGHLIGHTS Revenue: $449.9 million, up 19.5% YoY  87% MSW / 13% E&P Solid waste organic growth exceeded expectations:  3.2% price  -1.9% volume  -0.4% recycling and other Adjusted EBITDA: $146.1 million, or 32.5% of revenue, up 25.6% YoY  Higher margin acquisitions drove a 160bps YoY margin increase => 50bps above expectations Adjusted free cash flow: $100.2 million, or 22.3% of revenue, up 28.9% YoY  Paid down over $100 million of debt during the quarter Observation: improving landfill volumes and ramping E&P activity provide a solid entry point into Q2

Q OUTLOOK (as of April 25 th ) Revenue: $480 - $482 million, up 17% YoY  Slight increase in E&P as % of total vs. Q1, given the potential seasonal ramp in activity Solid waste organic growth assumptions:  Pricing growth of almost 3%  Volume growth between -1% and -1.5%  Recycling and other at about -1.0% Adjusted EBITDA: $164 - $165 million, or 34.2% of revenue  up about 220bps YoY Completed refinancing of existing revolver and term loan to reduce borrowing costs; current 3.2x leverage ratio:  Revolver: Libor bps  Term Loan: Libor bps

2013 OUTLOOK (as of February 20 th ) Revenue: $1.925 billion - $1.95 billion, up 16.5%  Pricing growth of about 3%  Volume growth between -0.5% and -1.0%  Recycling and other slightly negative  $250 million - $275 million from E&P waste EBITDA margin: about 34.5%, up 270 bps Double digit EPS growth, in spite of 100 bps increase in non-cash D&A % resulting from acquisition-related accounting for the R360 transaction Free cash flow: at least $300 million => $2.50 per diluted share Additional acquisitions, newly permitted E&P waste facilities, increased recycled commodity prices or improving economy would provide further upside

LONG-TERM OBJECTIVES 8%-12% annual revenue growth balanced between organic and acquisitions  Maintain disciplined growth Core solid waste price increase spread of bps over CPI 15-30bps per year EBITDA margin expansion, excluding acquisition impact and changes in recycling commodity prices  Slightly greater EBIT margin expansion given DD&A leverage Double digit annual EPS and FCF/share growth Maintain strong balance sheet as the right acquisitions are opportunistic  Above average EPS accretion from acquisitions currently given low cost of incremental debt Increasing cash dividend and opportunistic share repurchases to return capital

NON-GAAP RECONCILIATION SCHEDULES

_________________________________________________________________________________________________________________ *Adjusted EBITDA, a non-GAAP financial measure, is provided supplementally because it is widely used by investors as a performance and valuation measure in the solid waste industry. Other companies may calculate differently.

W ASTE C ONNECTIONS I NC. Connect with the Future