Acquisition of Bond Contracts – conditions confirmed

27 September 2023

WasteCo acquisition of Bond Contract waste collection business – conditions
confirmed

WasteCo Group Limited (NZX: WCO) advises that the conditions relating to the acquisition of
the waste collection business of Bond Contracts Limited have now been confirmed.

The acquisition is being completed by WasteCo's wholly owned operating subsidiary, WasteCo
NZ Limited (WasteCo NZ). The Bond Contracts business provides waste collection services
and operates transfer stations in Southland under a contract with the Invercargill City Council,
Southland District Council and Gore District Council (together referred to as the 'WasteNet'
Councils). This contract runs until 30 June 2027. WasteCo intends to proactively engage with
the WasteNet Councils and participate in subsequent negotiations and tender opportunities for
the WasteNet Councils contract beyond 2027.

The WasteNet Councils have approved the transfer of the contract to WasteCo NZ, while other
conditions relating to a lease assignment and transfer of employees have also now been
satisfied.

Settlement of the $8.775 million acquisition is scheduled for 2 October 2023, with an effective
date of 30 September 2023.

The acquisition of the Bond Contracts Limited waste business is a significant milestone for
WasteCo and will expand its footprint in the South Island and create a leading waste
management company in the region.

About WasteCo

WasteCo is a leading South Island waste solutions company, processing and diverting liquid
and solid waste from landfill. It provides comprehensive solutions for household, commercial,
industrial and local authority customers.

WasteCo is New Zealand’s only diamond certified Toitū Enviromark waste solutions provider
and delivers outcomes that ensure its customers are at the leading edge of the sustainability
frontier.

The company provides waste and sorting options as well as waste remediation, sweeping and
industrial cleaning services – all delivered using leading edge technology and highly trained
customer focussed staff.

The Christchurch-based business was established in 2013.

ENDS