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City of San Leandro Solid Waste Post Collection Services 19 C. Financial Information Proposers shall submit the most recently-completed audited financial statements for the legal entity(ies) that would execute the draft Agreement as an attachment to the proposal. All such statements are to be prepared in accordance with Generally Accepted Accounting Principles applied on a consistent basis, shall be audited in accordance with Generally Accepted Auditing Standards by an Accountant certified in the State of California, and shall include a statement by the chief financial officer (CFO) of the entity(ies) that there has been no material adverse change in such condition or operations as reflected in the submitted balance sheet and income statements since the date on which they were prepared. Proposers may submit an electronic version of the audited financial statements or may provide a website address linking to audited financial statements if available on the proposer’s website. Copies of the statements do not need to be submitted with the proposal if web access is made available and web access instructions are clearly indicated in the proposal. Proposers relying on a subcontractor(s) to provide any of the services shall include both the proposer’s and its subcontractor’s financial information. Financial Strength: The Foundation for Our Commitment As a wholly–owned, indirect subsidiary of Waste Management, Inc., Waste Management of Alameda County, Inc. (WM) does not report financial results. All financial reporting occurs through our parent entity. As a publicly traded company, WM is held to the most stringent regulations for accurate and timely financial disclosure. Revenue in 2022 was $19.7 billion, and WM has an asset base of $31.4 billion. The company generates strong and consistent cash flow and has access to an extensive line of credit. WM’s financial strength is the foundation for our commitment to serve our customers, perform our obligations, and protect the environment in carrying out our broad services. WM has achieved solid investment-grade credit ratings from three major rating agencies. Most recently, the company has been assigned ratings of A-/A-2 by Standard & Poor’s, BBB+ by Fitch, and Baa1 by Moody’s. The ratings are based on expectations that management will maintain good liquidity, pursue a moderate financial policy, and allocate capital in a disciplined manner. The credit outlook from each agency for WM is characterized as stable. WM’s financial strength, as summarized above, gives San Leandro assurance that we can and will fulfill our obligations. • WM is committed and financially able to perform all operations in full compliance with applicable federal, state, and local regulations and to provide clear documentation of that compliance. • WM offers the most extensive network providing waste management services in North America, including transportation, disposal, treatment, recovery, remediation, waste identification, and several other specialty services. This network enables us to provide a single source of responsibility, from transportation through disposal of waste. • Typically, new capital requirements are internally financed by WM using cash flow from existing operations - freeing our new trucks, carts, containers, and facility investments from the timelines and terms of third-party creditors. Full financial results are available on our website at investors.wm.com. Docusign Envelope ID: C78C62DE-8589-496F-8F5A-DEC38EE5853C