SECURE ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID

• Renewal of the NCIB for the repurchase of up to approximately 19 million common shares, representing approximately 8.8% of common shares outstanding

CALGARY, AB, Dec. 15, 2025 /CNW/ - SECURE Waste Infrastructure Corp. ("SECURE" or the "Corporation") (TSX: SES), a leading waste management and energy infrastructure company, announced today that the Toronto Stock Exchange ("TSX") has accepted for filing the Corporation's notice of intention to make a normal course issuer bid ("NCIB"). The NCIB effectively renews the Corporation's previous NCIB that expires on December 17, 2025, whereby SECURE received approval to purchase up to 19,367,434 common shares of the Corporation ("common shares"). As of December 5, 2025, the Corporation had acquired 9,696,900 common shares through market purchases on the TSX and alternative trading platforms at a weighted average price of $15.31 per share, representing approximately 4.1% of the number of common shares outstanding at the time of commencement. The Corporation also completed a Substantial Issuer Bid in May 2025, acquiring 9,382,390 common shares at a price of $14.50 per share. In total, SECURE has repurchased and cancelled 8.1% of it's common shares in the trailing 12-month period.

Pursuant to the NCIB, SECURE may repurchase from time to time up to a maximum of 19,074,068 common shares, representing approximately 8.8% of the 217,786,535 common shares outstanding as at December 5, 2025, or 10% of the Corporation's public float. Purchases under the NCIB may be made through open market transactions on the TSX and any alternative Canadian trading platforms on which the common shares are traded, based on the prevailing market price, at such times and in such quantities as the Corporation may determine, subject to applicable regulatory restrictions. Under TSX rules, not more than 176,286 common shares (being 25% of the average daily trading volume on the TSX of 705,146 common shares for the six months ended November 2025) can be purchased on the TSX on any single trading day under the NCIB, except that one block purchase in excess of the daily maximum is permitted per calendar week. Any common shares purchased under the NCIB will be cancelled.

The NCIB period will commence on December 18, 2025, and end on December 17, 2026, or such earlier date as the NCIB is completed or is terminated at the Corporation's election.

Transactions under the NCIB will depend on future market conditions. SECURE retains discretion whether to make purchases under the NCIB, and to determine the timing, amount and acceptable price of any such purchases, subject at all times to applicable TSX and other regulatory requirements.

In connection with the NCIB, the Corporation intends to enter into an automatic share purchase plan ("ASPP") with a designated broker. The ASPP has been pre-cleared by the TSX.

The ASPP is intended to facilitate repurchases of common shares at times under the NCIB when the Corporation would ordinarily not be permitted to make purchases due to regulatory restriction or customary self-imposed blackout periods. Before the commencement of any particular trading black-out period, SECURE may, but is not required to, instruct its designated broker to make purchases of common shares under the NCIB during the ensuing black-out period in accordance with the terms of the ASPP. Such purchases will be determined by the designated broker at its sole discretion based on purchasing parameters set by SECURE in accordance with the rules of the TSX, applicable securities laws and the terms of the ASPP.

The ASPP will terminate on the earliest of the date on which: (a) the maximum annual purchase limit under the NCIB has been reached; (b) the NCIB expires; or (c) SECURE terminates the ASPP in accordance with its terms. The ASPP constitutes an "automatic securities purchase plan" under applicable Canadian securities law.

Outside of pre-determined blackout periods, common shares may be purchased under the NCIB based on management's discretion, in compliance with TSX rules and applicable securities laws. All purchases of common shares made under the ASPP will be included in determining the number of common shares purchased under the NCIB.

The NCIB provides the Corporation with an additional capital allocation alternative to acquire common shares under the appropriate circumstances, with a view to long-term shareholder value. The Board of Directors and senior management believe that, from time to time, the prevailing market price of the common shares may not fully reflect the underlying value of SECURE's business and future business prospects. In such circumstances, the repurchase of common shares under the NCIB represents an attractive investment for the Corporation and an opportunity to enhance shareholder value.

Quarterly Dividend

SECURE is also pleased to announce that its Board of Directors has declared a quarterly dividend of $0.10 per common share payable on or about January 15, 2026, to shareholders of record on January 1, 2026.

This dividend is designated as an eligible dividend for the purposes of the Income Tax Act (Canada) and any similar applicable provincial legislation.

Timing of 2025 Fourth Quarter and Annual Results and Conference Call

SECURE also announced today that it expects to release its fourth quarter and year-end financial and operating results before markets open on Friday, February 20, 2026. Financial Statements and Management's Discussion and Analysis will be posted to SECURE's website and SEDAR+ following the release.

SECURE will host a conference call Friday, February 20, 2026, at 9:00 a.m. MST to discuss the fourth quarter results.

To participate in the conference call, dial 437-900-0527 or toll free 1-888-510-2154. To access the simultaneous webcast, please visit www.secure.ca. For those unable to listen to the live call, a taped broadcast will be available at www.secure.ca and, until midnight MST on Friday, February 27, 2026, by dialing 1-888-660-6345 and using the pass code 17852#.

Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking information and statements (collectively, "forward-looking statements") including, but not limited to, statements concerning the NCIB, including the duration of the NCIB, the number of common shares which may be purchased under the NCIB, the timing, amount and price of purchases of common shares under the NCIB, SECURE's business and future prospects and related matters. All statements other than statements of historical fact are forward-looking statements. The use of any of the words ''anticipate'', ''plan'', ''contemplate'', ''continue'', ''estimate'', ''expect'', ''intend'', ''propose'', ''might'', ''may'', ''will'', ''shall'', ''project'', ''should'', ''could'', ''would'', ''believe'', ''predict'', ''forecast'', ''pursue'', ''potential'' and ''capable'' and similar expressions are intended to identify forward looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. In addition, this news release may contain forward-looking statements and forward-looking information attributed to third party industry sources. The Corporation does not undertake any obligations to publicly update or revise any forward-looking statements except as required by securities law. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks and uncertainties including, but not limited to, the risks and uncertainties described in "Forward-Looking Statements" and "Risk Factors" in SECURE's Annual Information Form for the year ended December 31, 2024, which is available on SEDAR+ at www.sedarplus.ca.

ABOUT SECURE

SECURE is a leading waste management and energy infrastructure business headquartered in Calgary, Alberta. The Corporation's extensive infrastructure network located throughout western Canada and North Dakota includes waste processing and transfer facilities, industrial landfills, metal recycling facilities, crude oil and water gathering pipelines, crude oil terminals and storage facilities. Through this infrastructure network, the Corporation carries out its principal business operations, including the collection, processing, recovery, recycling and disposal of waste streams generated by our energy and industrial customers and gathering, optimization, terminalling and storage of crude oil and natural gas liquids. The solutions the Corporation provides are designed not only to help reduce costs, but also lower emissions, increase safety, manage water, recycle by-products and protect the environment.

SECURE's common shares trade under the symbol SES and are listed on the Toronto Stock Exchange.

SOURCE SECURE Waste Infrastructure Corp.