February 14, 2013

Progressive Waste Solutions

Fourth-Quarter 2012 Supplemental Information

Forward Looking Statements

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Forward-Looking Statement This presentation includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," and "continue" and similar expressions are intended to identify such forward-looking statements. These forward-looking statements may include, without limitation, statements relating to future financial and operating results, our financial condition and our plans, objectives, prospects, expectations and intentions. These forward-looking statements involve significant risks and uncertainties and other factors and assumptions that could cause actual results to differ materially from the forward-looking statements. Most of these factors and assumptions are outside our control and are difficult to predict. In addition to the factors and assumptions contained in this presentation, the following factors and assumptions, among others, could cause or contribute to such material differences: downturns in the worldwide economy; our ability to realize all of the expected synergies resulting from the Waste Services, Inc. acquisition; our ability to further integrate Waste Services, Inc. into Progressive Waste Solutions Ltd. in a timely and cost-effective manner; our ability to obtain, renew and maintain certain permits, licenses and approvals relating to our landfill operations; and fuel cost and commodity price fluctuations. Additional factors and assumptions that could cause Progressive Waste Solutions Ltd.'s results to differ materially from those described in the forward-looking statements can be found in the most recent annual information form under the heading “Risk Factors”. Progressive Waste Solutions Ltd. cautions that the foregoing list of factors is not exclusive and that investors should not place undue reliance on such forward-looking statements. All subsequent written and oral forward-looking statements concerning Progressive Waste Solutions Ltd., or other matters attributable to Progressive Waste Solutions Ltd. or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. Progressive Waste Solutions Ltd. does not undertake any obligation to update any forward-looking statement, whether written or oral, relating to the matters discussed in this communication, except as required by law.

2012 Financial Review

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FY 2012 Highlights

Core business of solid waste collection, transfer and disposal remained solid in the fourth quarter and demonstrated resilience throughout 2012

Plan for the U.S. Northeast operations is well underway

Completed 19 strategic acquisitions in 2012, including seven in Q4/12

We remain focused on the disciplined deployment of capital to improve ROIC

Core business is well-positioned for growth in 2013

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(US$MM) Except per share amounts Q4/11 Q4/12 QoQ FY11 FY12 YoY

Canada $185.6 $199.0 7.2% $757.6 $776.8 2.5%

U.S. South 185.4 201.7 8.8% 723.3 780.3 7.9%

U.S. Northeast 86.2 95.1 10.3% 359.2 339.6 (5.4%)

Total Revenues $457.2 $495.8 8.4% $1,840.1 $1,896.7 3.1%

Adjusted Net Income(A)

Reported Net Income (Loss) $38.0

($296.2) $28.2 $11.8

(25.9%) 104.0%

$135.0 ($196.1)

$113.2 $94.4

(16.2%) 148.1%

Adjusted EPS (diluted) Reported EPS (diluted)

$0.32 ($2.48)

$0.24 $0.10

(25.0%) 104.0%

$1.12 ($1.63)

$0.97 $0.81

(13.4%) 150.0%

Adjusted Operating Income(A) $76.0 $61.6 (19.0%) $280.9 $246.1 (12.4%)

Adjusted EBITDA(A) $133.9 $133.7 (0.1%) $534.5 $519.7 (2.8%)

29.3% 27.0% (230bps) 29.0% 27.4% (160bps)

Free Cash Flow(B) $59.3 $36.6 (38.2%) $262.5 $172.5 (34.3%)

Weighted Average Share Count 120.7 116.2

Total Actual Outstanding Share Count 115.2 118.3

2012 Financial Highlights

(A) Please refer to the definition and explanation of (A) on slide 21. (B) Please refer to the definition and explanation of (B) on slide 23.

(*)Prior period amounts have been adjusted to conform to the current period's presentation. (**)Component percentages for 2012 have been presented on a reportable revenue basis, while component percentages for 2011 have been presented on a gross revenue basis. 6

Components of Revenue Growth (Decline)

CAN Q4/11**

US Q4/11**

Q4/11 Total

Company

CAN Q4/12**

US Q4/12**

Q4/12 Total

Company

Core Price* 2.1% 0.5% 1.2% 1.5% 1.0% 1.2%

Fuel Surcharges 0.8% 1.0% 0.9% 0.1% 0.6% 0.3%

Recycling and Other* (0.2%) (0.2%) (0.2%) (1.6%) (0.6%) (1.0%)

Total Price Growth (Decline) 2.7% 1.3% 1.9% - 1.0% 0.5%

Volume 1.5% - 0.6% (2.6%) 2.0% 0.1%

Total gross organic revenue growth (Decline) 4.2% 1.3% 2.5% (2.6%) 3.0% 0.6%

Acquisitions 0.3% 9.5% 5.6% 6.4% 6.3% 6.4%

Total growth excluding FX 4.5% 10.8% 8.1% 3.8% 9.3% 7.0%

FX 1.4%

Total growth including FX 8.4%

Revenue Growth

• Q4 2012 reported revenues increased 8.4% to $495.8MM QoQ

(*)Prior period amounts have been adjusted to conform to the current period's presentation. (**)Component percentages for 2012 have been presented on a reportable revenue basis, while component percentages for 2011 have been presented on a gross revenue basis. In addition, component percentages for 2011 have been prepared as if Waste Services, Inc.'s results for the year ended December 31, 2010 were combined with our own for the period from January 1 to June 30, 2010.

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Components of Revenue Growth (Decline)

CAN FY11**

US FY11**

Total Company FY11

CAN FY12**

US FY12**

Total Company FY12

Core Price* 2.4% 0.8% 1.4% 2.1% 1.0% 1.4%

Fuel Surcharges 1.1% 1.1% 1.1% 0.3% 0.5% 0.4%

Recycling and Other* 0.3% 0.4% 0.4% (1.6%) (1.7%) (1.6%)

Total Price Growth (Decline) 3.8% 2.3% 2.9% 0.8% (0.2%) 0.2%

Volume 1.2% 0.2% 0.6% (0.9%) (1.4%) (1.2%)

Total gross organic revenue growth (Decline) 5.0% 2.5% 3.5% (0.1%) (1.6%) (1.0%)

Acquisitions 0.7% 9.8% 6.0% 3.7% 5.1% 4.5%

Total growth excluding FX 5.7% 12.3% 9.5% 3.6% 3.5% 3.5%

FX (0.4%)

Total growth including FX 3.1%

Revenue Growth

• FY12 reported revenues increased 3.1% to $1,896.7MM YoY

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186 199

185 202

86 95

0

100

200

300

400

500

Q4 2011 Q4 2012

U.S. Northeast

U.S. South

Canada

Q4 2012 Reported Revenue by Segment

$US (Millions)

$457

• Q4/12 Canadian revenue increased 7.2% vs. Q4/11

• Q4/12 U.S. South revenue increased 8.8% vs. Q4/11 • Q4/12 U.S. Northeast revenue increased 10.3% vs. Q4/11

% of Total Revenues Canada U.S. South U.S. Northeast

40.1% 40.7% 19.2%

$496

40.5% 40.6% 18.9%

9

349 584 758 777

340

502 723 780

319

343

359 340

0

400

800

1,200

1,600

2,000

2009 2010 2011 2012

U.S. Northeast

U.S. South

Canada

$1,430

$1,840

Reported Revenue Growth by Segment

$US (Millions)

$1,008

• Canadian revenue increased 2.5% year-to-year

•U.S. South revenue increased 7.9% year-to-year

•U.S. Northeast revenue declined 5.4% year-to-year

% of Total Revenues Canada U.S. South U.S. Northeast

34.6% 40.9% 41.2% 33.8% 35.1% 39.3% 31.6% 24.0% 19.5%

$1,897

41.0% 41.1% 17.9%

Q4 2012 Reported and Gross Revenues Strong Revenue from Canadian and U.S. Operations

Total Reported Revenues $495.8 million

U.S. Canada

$296.8 million $199.0 million

(1) Gross Revenue includes intercompany revenue on a consolidated basis and includes the impact of FX.

Gross Revenue From Operations(1)

000’s Consolidated $US

% of Gross Revenue

Commercial 171,384 34.6%

Industrial 88,293 17.8%

Residential 117,267 23.7%

Transfer and Disposal 168,318 33.9%

Recycling 15,592 3.1%

Other 7,467 1.5%

Gross Revenues 568,321 114.6%

Intercompany (72,499) (14.6%)

Revenues $495,822 100%

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FY 2012 Reported and Gross Revenues Strong Revenue from Canadian and U.S. Operations

Total Reported Revenues $1,896.7 million

U.S. Canada

$1,119.9 million $776.8 million

(1) Gross Revenue includes intercompany revenue on a consolidated basis and includes the impact of FX.

Gross Revenue From Operations(1)

000’s Consolidated $US

% of Gross Revenue

Commercial 665,715 35.1%

Industrial 336,353 17.7%

Residential 440,725 23.2%

Transfer and Disposal 640,923 33.8%

Recycling 65,344 3.4%

Other 26,467 1.4%

Gross Revenues 2,175,527 114.6%

Intercompany (278,786) (14.6%)

Revenues $1,896,741 100%

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Q4 2012 Gross Revenues by Service Line(1)

(1) Gross Revenue includes intercompany revenue.

000’s Canada ($C) Canada % of Revenue

U.S. U.S. % of Revenue

Commercial $77,521 39.3% $93,191 31.4%

Industrial 36,184 18.3% 51,803 17.5%

Residential 40,125 20.3% 76,819 25.9%

Transfer and Disposal 60,891 30.9% 106,916 36.0%

Recycling 7,394 3.7% 8,129 2.7%

Other 6,249 3.2% 8 0.4%

Gross Revenues 228,364 115.7% 338,027 113.9%

Intercompany (31,028) (15.7%) (41,226) (13.9%)

Revenues $197,336 100% $296,801 100%

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FY 2012 Gross Revenues by Service Line(1)

(1) Gross Revenue includes intercompany revenue.

000’s Canada ($C) Canada % of Revenue

U.S. U.S. % of Revenue

Commercial $308,715 39.8% $356,804 31.9%

Industrial 141,027 18.2% 195,236 17.4%

Residential 150,603 19.4% 290,026 25.9%

Transfer and Disposal 236,425 30.5% 404,348 36.1%

Recycling 31,314 4.0% 34,010 3.0%

Other 22,875 2.9% 3,577 0.3%

Gross Revenues 890,959 114.8% 1,284,001 114.6%

Intercompany (114,639) (14.8%) (164,074) (14.6%)

Revenues $776,320 100% $1,119,927 100%

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FY12

Reported Net Income and EPS (diluted) $94.4 $0.81

Items of note $US(MM) EPS Business Revenue/

Expense Line item

Transaction and related costs $2.5 $0.02 Corporate SG&A

Fair Value Movements in Stock Options ($0.1) - Corporate SG&A

Restricted share expense $2.0 $0.02 Corporate SG&A

Net loss on financial instruments $1.7 $0.01 All

Payments made to senior executive on departure $4.0 $0.03 Corporate SG&A

Net income tax expense (recovery) ($8.3) ($0.07)

Loss on extinguishment of debt 16.9 0.15

Other 0.1 -

Excluding items of note above Adjusted net income(A) and Adjusted EPS (diluted)

$113.2 $0.97

Reconciliation of Reported Net Income and EPS to Adjusted

(A) Please refer to the definition and explanation of (A) on slide 21.

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FY11 FY12

Adjusted EBITDA(A) $534.5 $519.7

$US (MM) $US (MM)

Purchase of restricted shares ($4.2) ($0.5)

Capital and landfill asset purchases ($171.0) ($246.9)

Proceeds from sale of capital assets $5.9 $2.8

Landfill closure/post-closure expenditures ($4.3) ($6.7)

Landfill closure/post-closure accretion expense $5.1 $5.2

Interest on long-term debt ($62.1) ($57.5)

Non-cash interest expense $6.0 $5.7

Current income tax expense ($47.4) ($49.3)

Free cash flow(B) $262.5 $172.5

Reconciliation of Adjusted EBITDA(A) to Free Cash Flow(B)

(A) Please refer to the definition and explanation of (A) on slide 21. (B) Please refer to the definition and explanation of (B) on slide 23.

Long-Term Debt Summary

• As at December 31, 2012, total long-term debt stood at $1.685B U.S. • Funded debt to EBITDA as defined and calculated in accordance with our consolidated facility was

3.14x

Long-Term Debt Facilities (US$MM) Available

Lending Accordion Facility Drawn Letters of Credit

Available Capacity Ratings

Senior Secured term B facility

$500.0 _ $500.0 _ _

Moody’s Ba1

October 1, 2012

S&P BB+

October 3, 2012

Senior Secured Revolving Facility

$1,850.0 $750.0 $1,074.7 $183.8 $591.5

IRBs(1) $194.0 $109.0 _ $85.0

Other Notes $2.1 $2.1 _ _

(1) Variable Rate Demand Solid Waste Disposal Revenue Bonds.

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FY 2012E Outlook Revenues Approximately $2.00 B to $2.02 B

Adjusted EBITDA(A) Approximately $545 MM - $555 MM

Amortization as a % of revenue Approximately 14.4%

Capital and Landfill Expenditures(1) $250 MM - $265 MM

Cash Taxes $52 MM - $54 MM

Effective Tax Rate 40% of Income before tax expense (on an adjusted basis) and net loss from equity

accounted investee

Adjusted Net Income(A) per diluted share $1.02 - $1.06

Free Cash Flow(B)(1) $160 MM - $170 MM

Expected annual cash dividend (C$) per share payable on a quarterly basis $0.56

2013 Outlook

1. Outlook assumes no change in the current economic environment and excludes the impact of any acquisitions we may complete in 2013.

2. Assumes parity between the Canadian and U.S. dollar 3. Assumes an average recycled commodity price for the year that is equal to our average

price of 2012

(1) Includes internal infrastructure investments. (A) Please refer to the definition and explanation of (A) on slide 21. (B) Please refer to the definition and explanation of (B) on slide 23.

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Tuck-In Acquisitions 2011 Q112 Q212 Q312 Q412 2012

YTD

U.S. South 8 2 3 - 3 8

U.S. Northeast 3 - - 2 3 5

Canada 3 1 3 1 1 6

Total 14 3 6 3 7 19

Acquisitions

• Solid Waste services industry is still consolidating • Well positioned to be disciplined buyers of both strategic

“tuck-ins” and platforms that can deliver returns in excess of our targets • FY 2012 we invested $308.3MM on strategic “tuck-in” acquisitions.

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Recycled Fiber Sensitivity • Revenues and earnings are impacted by changes in recycled commodity prices,

which principally include old corrugated cardboard (“OCC”) and other paper fibers, including newsprint, sorted office paper and mixed paper.

• Other commodities we receive include wood, plastics, aluminum and metals.

• Our results of operations may be affected by changing prices or market requirements for recyclable materials. The resale and purchase price of, and market demand for, recyclable materials can be volatile due to changes in economic conditions and numerous other factors beyond our control.

• These fluctuations may affect our consolidated financial condition, results of operations and cash flows.

• Based on current volumes, a $10 change in the price of an average basket of commodities results in an ~$8.0 million change to revenues and an approximately $0.04 change to net income per share on an annual basis.

• Our outlook provided for 2013 assumes an average price per ton of OCC of $106.00,

which is equal to the 2012 average price per ton based on our market weighting of the Official Board Markets index.

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FX Sensitivity

• We have provided our guidance assuming parity between the Canadian and U.S. dollar.

• If the U.S. dollar strengthens one cent our reported revenues will decline by approximately $7,600.

• EBITDA(A) is similarly impacted by approximately $2,500, assuming a strengthening U.S. dollar.

• The impact on net income for a similar change in FX rate, results in an approximately $1,000 decline.

• Should the U.S. dollar weaken by one cent, our reported results will improve by similar amounts.

Non-GAAP Disclosure

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Reference is made in this presentation to non-GAAP financial measures, including adjusted EBITDA and free cash flow. The measures themselves are not recognized under U.S. GAAP and Progressive Waste Solutions Ltd’s method of calculation may not be comparable to that of other companies. Non GAAP financial measures should be viewed in addition to, and not as an alternative for, other measures of performance prepared in accordance with GAAP. See "Non-GAAP financial measures" in the Prospectus. (A) Adjusted EBITDA - All references to “Adjusted EBITDA” in this document are to revenues less operating expense and SG&A, excluding certain non-operating or non-recurring SG&A expense, on the consolidated statement of operations and comprehensive income or loss. Adjusted EBITDA excludes some or all of the following: certain SG&A expenses, restructuring expenses, goodwill impairment, amortization, net gain or loss on sale of capital assets, interest on long-term debt, net foreign exchange gain or loss, net gain or loss on financial instruments, loss on extinguishment of debt, other expenses, income taxes and income or loss from equity accounted investee. Adjusted EBITDA is a

term used by us that does not have a standardized meaning prescribed by U.S. GAAP and is therefore unlikely to be comparable to similar measures used by other companies. Adjusted EBITDA is a measure of our operating profitability, and by definition, excludes certain items as detailed above. These items are viewed by us as either non-cash (in the case of goodwill impairment, amortization, net gain or loss on financial instruments, net foreign exchange gain or loss, deferred income taxes and net income or loss from equity accounted investee) or non-operating (in the case of certain SG&A expenses, restructuring expenses, net gain or loss on sale of capital assets, interest on long-term debt, loss on extinguishment of debt, other expenses, and current income taxes). Adjusted EBITDA is a useful financial and operating metric for us, our board of directors, and our lenders, as it represents a starting point in the determination of free cash flow(B). The underlying reasons for the exclusion of each item are as follows:

– Certain SG&A expenses – SG&A expense includes certain non-operating or non-recurring expenses. These expenses include transaction costs related to acquisitions, fair

value adjustments attributable to stock options, restricted share expense and payments made to senior executives on departure. These expenses are not considered an expense indicative of continuing operations. Certain SG&A costs represent a different class of expense than those included in adjusted EBITDA.

– Restructuring expenses – restructuring expenses includes costs to integrate various operating locations with our own, exiting certain property and building and office leases, employee severance and employee relocation costs incurred in connection with our acquisition of WSI. These expenses are not considered an expense indicative of continuing operations. Accordingly, restructuring expenses represent a different class of expense than those included in adjusted EBITDA.

– Goodwill impairment – as a non-cash item goodwill impairment has no impact on the determination of free cash flow(B). – Amortization – as a non-cash item amortization has no impact on the determination of free cash flow(B). – Net gain or loss on sale of capital assets – proceeds from the sale of capital assets are either reinvested in additional or replacement capital assets or used to repay revolving

credit facility borrowings. – Interest on long-term debt – interest on long-term debt is a function of our debt/equity mix and interest rates; as such, it reflects our treasury/financing activities and

represents a different class of expense than those included in adjusted EBITDA. – Net foreign exchange gain or loss – as non-cash items, foreign exchange gains or losses have no impact on the determination of free cash flow(B). – Net gain or loss on financial instruments – as non-cash items, gains or losses on financial instruments have no impact on the determination of free cash flow(B). – Loss on extinguishment of debt – loss on extinguishment of debt is a function of our debt financing; as such, it reflects our treasury/financing activities and represents a

different class of expense than those included in adjusted EBITDA. – Other expenses – other expenses typically represent amounts paid to certain management of acquired companies who are retained by us post acquisition and amounts paid

to certain executives in respect of acquisitions successfully completed. These expenses are not considered an expense indicative of continuing operations. Accordingly, other expenses represent a different class of expense than those included in adjusted EBITDA.

– Income taxes – income taxes are a function of tax laws and rates and are affected by matters which are separate from our daily operations. – Net income or loss from equity accounted investee – as a non-cash item, net income or loss from our equity accounted investee has no impact on the determination of free

cash flow(B).

Continued on next slide.

Non-GAAP Disclosure – continued

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All references to “Adjusted operating income” in this document represent Adjusted EBITDA after adjusting for net gain or loss on sale of capital assets and amortization. All references to “Adjusted net income” are to Adjusted operating income after adjusting for restructuring expenses, goodwill impairment, net gain or loss on financial instruments, loss on extinguishment of debt, other expenses and net income tax expense or recovery. Year ended

December 31 2012 2011

Operating income (loss) $ 237,711 $ (88,391) Transaction and related costs - SG&A 2,507 1,880 Fair value movements in stock options - SG&A (110) (6,808) Restricted share expense - SG&A 2,034 2,107 Payments made to executives and senior management on departure - SG&A 3,991 9,928 Restructuring expenses and goodwill impairment - 362,166 Adjusted operating income 246,133 280,882 Net gain on sale of capital assets (592) (3,412) Amortization 274,118 257,066 Adjusted EBITDA $ 519,659 $ 534,536

Net income (loss) $ 94,357 $ (196,136) Transaction and related costs - SG&A 2,507 1,880 Fair value movements in stock options - SG&A (110) (6,808) Restricted share expense - SG&A 2,034 2,107

Payments made to executives and senior management on departure - SG&A 3,991 9,928 Restructuring expenses and goodwill impairment - 362,166 Net loss (gain) on financial instruments 1,725 (4,984) Loss on extinguishment of debt 16,924 - Other expenses 105 872 Net income tax expense or (recovery) (8,346) (34,022) Adjusted net income $ 113,187 $ 135,003

Non-GAAP Disclosure – continued

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All references to “Adjusted operating income” in this document represent Adjusted EBITDA after adjusting for net gain or loss on sale of capital assets and amortization. All references to “Adjusted net income” are to Adjusted operating income after adjusting for restructuring expenses, goodwill impairment, net gain or loss on financial instruments, loss on extinguishment of debt, other expenses and net income tax expense or recovery. (B) Free Cash Flow or ‘FCF’ We have adopted a measure called “free cash flow” to supplement net income or loss as a measure of our operating performance. Free cash flow is a term which does not have a standardized meaning prescribed by U.S. GAAP, is prepared before dividends declared and shares repurchased, and may not be comparable to similar measures prepared by other companies. The purpose of presenting this non-GAAP measure is to provide disclosure similar to the disclosure provided by other U.S. publicly listed companies in our industry and to provide investors and analysts with an additional measure of our value and liquidity. We use this non-GAAP measure to assess our performance relative to other U.S. publicly listed companies and to assess the availability of funds for growth investment, debt repayment, share repurchases or dividend increases. All references to “free cash flow” in this document have the meaning set out in this note. Three months ended Year ended

December 31 December 31 2012 (*) 2011 Change 2012 (*) 2011 Change

Adjusted EBITDA(A) $ 133,737 $ 133,861 $ (124) $ 519,659 $ 534,536 $ (14,877)

Purchase of restricted shares - - - (541) (4,226) 3,685 Capital and landfill asset purchases (72,881) (54,321) (18,560) (246,878) (171,013) (75,865)

Proceeds from the sale of capital assets 654 721 (67) 2,761 5,925 (3,164) Landfill closure and post- closure expenditures (1,336) (1,183) (153) (6,737) (4,345) (2,392)

Landfill closure and post- closure cost accretion expense 1,313 1,255 58 5,240 5,071 169

Interest on long-term debt (14,494) (13,723) (771) (57,428) (62,086) 4,658

Non-cash interest expense 596 1,680 (1,084) 5,665 6,035 (370)

Current income tax expense (10,969) (9,009) (1,960) (49,281) (47,433) (1,848) Free cash flow(B) $ 36,620 $ 59,281 $ (22,661) $ 172,460 $ 262,464 $ (90,004)

Note: (*)Capital and landfill asset purchases include infrastructure expenditures of approximately $12,300 and $26,100, for the three months and year ended December 31, 2012, respectively.