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*	Fourth quarter adjusted diluted EPS was $0.50 per share.

*	Full year adjusted diluted EPS was $2.06 and adjusted free cash flow was $813 million; both exceeded our full year guidance primarily due to tax extenders that were signed into law at the end of the year.

*	Revenue growth during the fourth quarter from average yield was 2.2 percent and volumes increased 0.9 percent. This continues to reflect our ability to grow price and volume simultaneously.

*	Fourth quarter adjusted EBITDA margin was 27.2 percent and full year margin was 28.1 percent. Full year margin improvement of 10 basis points reflects expansion in our solid waste business primarily from lower fuel costs and pricing in excess of cost inflation, partially offset by lower recycling commodity prices and the impact of recent acquisitions.

*	Delivered total shareholder return of 12.4 percent during 2015, which exceeded the S&P 500 average by over 8 times.

*	Returned $808 million total cash to our shareholders during 2015 through dividends and share repurchases, which represents a cash yield of approximately 5.6 percent.

*	During the fourth quarter we invested $52 million in tuck-in acquisitions, and $193 million for the full year. The transactions completed in 2015 represent annual revenue of approximately $143 million at a post-synergy EBITDA multiple of 4.3 times.

*	During 2015 we advanced our revenue enhancing initiatives that are focused on creating a better customer experience and further differentiating our service offerings. For example:

•	We now have over 1.2 million customers active and enrolled in our MyResourceTM customer portal and mobile app. These tools significantly enhance customer interaction and connectivity;

•	We launched click-to-buy capabilities in approximately 50% of our markets with residential subscription business. In these markets, click-to-buy represents approximately 15% of all new subscription sales;

•	We fully implemented our Capture cloud-based pricing tool, which is integrated with our CRM software;

•	We trained our sales force on Priority Based Selling, which is designed to identify and attract customers that value our higher quality service offerings; and

•	We have over 500 contracts with approximately $250 million in annual revenue that now use a waste-related index for the annual price adjustment.

*	We continued to make progress on our fleet-based initiatives designed to improve productivity and lower costs. Currently:

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•	Adjusted Free Cash Flow: Republic expects adjusted free cash flow to be $820 million to $840 million. Detail relating to the computation of adjusted free cash flow is contained in the Reconciliation of 2016 Financial Guidance section of this document.

•	Adjusted Diluted Earnings per Share: The Company expects adjusted diluted earnings per share to be in the range of $2.13 to $2.17. Detail relating to the computation of adjusted diluted earnings per share is contained in the Reconciliation of 2016 Financial Guidance section of this document.

•	Revenue: Republic expects an increase in revenue of 2.5 to 3.0 percent comprised of the following:

•	Property and Equipment: The Company anticipates receiving $900 million of property and equipment, net of proceeds from sales of property and equipment.

•	Margin: Republic expects EBITDA margin to expand by 40 basis points to approximately 28.5 percent.

•	Taxes: The Company expects an effective tax rate of approximately 39.5 percent. The Company expects cash taxes to equal the tax provision.

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•	Cash Utilization: Republic expects to invest approximately $100 million in tuck-in acquisitions. Additionally, the Company expects to return $820 million total cash to shareholders, through $420 million of dividends and $400 million in share repurchases.

Media Inquiries	Investor Inquiries

Darcie Brossart (480) 627-2700	Brian DelGhiaccio (480) 627-2741

media@RepublicServices.com	investor@RepublicServices.com

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•	general economic and market conditions, including inflation and changes in commodity pricing, fuel, interest rates, labor, risk, health insurance and other variable costs that generally are not within our control, and our exposure to credit and counterparty risk;

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whether our estimates and assumptions concerning our selected balance sheet accounts, income tax accounts, final capping, closure, post-closure and remediation costs, available airspace, and projected costs and expenses related to our landfills and property and equipment (including our estimates of the fair values of the assets and liabilities acquired in our acquisition of Allied Waste Industries, Inc.), and labor, fuel rates and economic and inflationary trends, turn out to be correct or appropriate;

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•	competition and demand for services in the solid waste industry;

•	price increases to our customers may not be adequate to offset the impact of increased costs, including labor, third-party disposal and fuel, and may cause us to lose volume;

•	our ability to manage growth and execute our growth strategy;

•	our compliance with, and future changes in, environmental and flow control regulations and our ability to obtain approvals from regulatory agencies in connection with operating and expanding our landfills;

•	the impact on us of our substantial indebtedness, including on our ability to obtain financing on acceptable terms to finance our operations and growth strategy and to operate within the limitations imposed by financing arrangements;

•	our ability to retain our investment grade ratings for our debt;

•	our dependence on key personnel;

•	our dependence on large, long-term collection, transfer and disposal contracts;

•	our business is capital intensive and may consume cash in excess of cash flow from operations;

•	any exposure to environmental liabilities or remediation requirements, to the extent not adequately covered by insurance, could result in substantial expenses;

•	risks associated with undisclosed liabilities of acquired businesses;

•	risks associated with pending and future legal proceedings, including litigation, audits or investigations brought by or before any governmental body;

•	severe weather conditions, including those brought about by climate change, which could impair our financial results by causing increased costs, loss of revenue, reduced operational efficiency or disruptions to our operations;

•	compliance with existing and future legal and regulatory requirements, including limitations or bans on disposal of certain types of wastes or on the transportation of waste, which could limit our ability to conduct or grow our business, increase our costs to operate or require additional capital expenditures;

•	potential increases in our costs if we are required to provide additional funding to any multiemployer pension plan to which we contribute or if a withdrawal event occurs with respect to any multiemployer pension plan to which we contribute;

•	the negative impact on our operations of union organizing campaigns, work stoppages or labor shortages;

•	the negative effect that trends toward requiring recycling, waste reduction at the source and prohibiting the disposal of certain types of wastes could have on volumes of waste going to landfills;

•	changes by the Financial Accounting Standards Board or other accounting regulatory bodies to generally accepted accounting principles or policies;

•	a cyber-security incident could negatively impact our business and our relationships with customers; and

•	acts of war, riots or terrorism, including the continuing war on terrorism, as well as actions taken or to be taken by the United States or other governments as a result of further acts or threats of terrorism, and the impact of these acts on economic, financial and social conditions in the United States.