Advanced Disposal Services, Inc. (the “Company”)
has fixed November 20, 2019 as the date for the 2019 Annual Meeting of Stockholders (the “2019 Annual Meeting”)
and the close of business on September 27, 2019 as the record date for determining the holders of shares of the Company’s
Common Stock entitled to notice of and to vote at the 2019 Annual Meeting and any adjournment or postponement thereof. The Company
will file with the Securities and Exchange Commission and deliver to stockholders definitive proxy materials containing additional
information about the 2019 Annual Meeting. The Company has established the close of business on September 30, 2019 as the new
deadline for the receipt of any written stockholder proposals submitted pursuant to Rule 14a-8 under the Securities
Exchange Act of 1934, as amended (the “Exchange Act”). Eligible stockholders who wish to submit a proposal
for inclusion in the proxy statement for our 2019 Annual Meeting should notify our Corporate Secretary at Advanced Disposal Services,
Inc., 90 Fort Wade Road, Ponte Vedra, FL 32081. Any such proposal must comply with the requirements set forth in the federal securities
laws, including Rule 14a-8 under the Exchange Act, in order to be included in the Company’s proxy statement and proxy card
for the 2019 Annual Meeting.
The Company has rescheduled its 2019
Annual Meeting to comply with the New York Stock Exchange (NYSE) requirement to hold an annual meeting. The Company postponed
the 2019 Annual Meeting of Stockholders, originally scheduled to be held on May 22, 2019, given the Company’s pending
acquisition by Waste Management, Inc. (“Waste Management”), pursuant to which a wholly-owned subsidiary of
Waste Management will merge with and into the Company, with the Company continuing as the surviving company and an indirect,
wholly-owned subsidiary of Waste Management, at which point it will cease to be an independent public company (the
“Merger”). Further details can be found in the Company’s Form 8-K related to this matter, filed with
the Securities and Exchange Commission on April 15, 2019 and the Company’s definitive proxy statement with respect to
the Merger, filed with the Securities and Exchange Commission on May 23, 2019. As previously disclosed, the Merger is
expected to close during the first quarter of 2020, subject to the satisfaction of customary closing conditions, including
regulatory approvals.
SPECIAL
NOTE REGARDING FORWARD-LOOKING STATEMENTS
This communication contains “forward-looking
statements” within the meaning of the U.S. federal securities laws. Such statements include statements concerning anticipated
future events and expectations that are not historical facts. All statements other than statements of historical fact are
statements that could be deemed forward-looking statements. Forward-looking statements are typically identified by words
such as “believe,” “expect,” “anticipate,” “intend,” “target,” “estimate,”
“continue,” “positions,” “plan,” “predict,” “project,” “forecast,”
“guidance,” “goal,” “objective,” “prospects,” “possible” or “potential,”
by future conditional verbs such as “assume,” “will,” “would,” “should,” “could”
or “may,” or by variations of such words or by similar expressions or the negative thereof. Actual results may
vary materially from those expressed or implied by forward-looking statements based on a number of factors, including, without
limitation: (1) risks related to the consummation of the Merger, including the risks that (a) the Merger may not be consummated
within the anticipated time period, or at all, (b) the parties may fail to secure the termination or expiration of any waiting
period applicable under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and (c) other conditions to the consummation
of the Merger may not be satisfied under the Agreement and Plan of Merger, dated April 14, 2019 (as may be amended from time to
time, the “Merger Agreement”) among the Company, Waste Management, and Everglades Merger Sub Inc., a wholly-owned
subsidiary of Waste Management; (2) the effects that any termination of the Merger Agreement may have on the Company or its business,
including the risks that (a) the Company’s stock price may decline significantly if the Merger is not completed, (b) the
Merger Agreement may be terminated in circumstances requiring the Company to pay Waste Management a termination fee, or (c) the
circumstances of the termination, including the possible imposition of a 12-month tail period during which the termination fee
could be payable upon certain subsequent transactions, may have a chilling effect on alternatives to the Merger; (3) the effects
that the announcement or pendency of the Merger may have on the Company and its business, including the risks that as a result
(a) the Company’s business, operating results or stock price may suffer, (b) the Company’s current plans and operations
may be disrupted, (c) the Company’s ability to retain or recruit key employees may be adversely affected, (d) the Company’s
business relationships (including, customers and suppliers) may be adversely affected, or (e) the Company’s management’s
or employees’ attention may be diverted from other important matters;
(4) the effect of limitations that the Merger Agreement
places on the Company’s ability to operate its business, return capital to stockholders or engage in alternative transactions;
(5) the nature, cost and outcome of pending and future litigation and other legal proceedings, including any such proceedings related
to the Merger and instituted against the Company and others; (6) the risk that the Merger and related transactions may involve
unexpected costs, liabilities or delays; (7) other economic, business, competitive, legal, regulatory, and/or tax factors; and
(8) other factors described under the heading “Risk Factors” in Part I, Item 1A of the Company’s Annual Report
on Form 10-K for the fiscal year ended December 31, 2018, as updated or supplemented by subsequent reports that the Company has
filed or files with the U.S. Securities and Exchange Commission. Potential investors, stockholders and other readers are
cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made.
The Company has no obligation to publicly update any forward-looking statement after it is made, whether as a result of new information,
future events or otherwise, except as required by law.