Tervita Corporation Announces Third Quarter 2019 Results of $65 million Adjusted EBITDA

Press Release

• Q3 2019 Adjusted EBITDA of $65 million compared to $71 million in the prior year, underscoring the stability in our production-based business and continued strong performance in our Industrial business segment, in the face of lower drilling activity and unusually wet weather
• Year-to-date Adjusted EBITDA of $174 million, up 23% and 14% per share compared to the same period in 2018, benefiting from the full integration of the Newalta acquisition including synergies and growth in Industrial Services
• General & administrative expenses (“G&A”) (excluding severance)  as a percent of revenue (excluding energy marketing revenue) improved to 6% in Q3 2019 compared to 7% in Q3 2018, despite lower revenue, reflecting our ongoing focus on efficiency and cost discipline
• Generated $81 million of Discretionary Free Cash Flow year to date in 2019, more than funding our growth and expansion capital program and the normal course issuer bid
• We expect that the $64 million of growth and expansion capital additions to the end of Q3 2019, the majority of which is customer backed, will begin to contribute to Adjusted EBITDA in 2020

Calgary, AB, November 7, 2019 – Tervita Corporation (“Tervita” or the “Company”) (TSX: TEV) announced today the results for the three and nine months ended September 30, 2019. All financial figures are in millions of Canadian dollars unless otherwise noted.

“We are pleased with our strong performance which demonstrates stability and resiliency in our business model,” said John Cooper, President and CEO. “Our broad exposure to every major play in Western Canada and diversified platform with our Industrial business has positioned us to deliver solid results in the current environment.  Full news release.

About Tervita

Tervita is a leading waste management and environmental solutions provider offering waste processing, treating, recycling, and disposal services to customers in the oil and gas, mining, and industrial sectors. We serve our customers onsite and through a network of facilities in Canada and the United States.

For 40 years, Tervita has been focused on delivering safe and efficient solutions through all phases of a project while minimizing impact, maximizing returns™. Our dedicated and experienced employees are trusted sustainability partners to our clients.  Safety is our top priority: it influences our actions and shapes our culture.  Tervita trades on the TSX as TEV.

For more information, or to speak to a Tervita representative, please contact:

Investor Relations:
1-866-233-6690

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