Investor Q&A

1.When was Waste Management incorporated?
2.How could WM have been incorporated in 1987 when I have owned its stock since the early 80s?
3.I previously owned 100 shares of Waste Management stock, but know I only have 72 shares. What happened?
4.Does Waste Management pay a quarterly or annual dividend?
5.Does Waste Management have a direct stock purchase plan and/or a dividend reinvestment plan?
6.How can I get on your email distribution list for press releases?
7.Why don't I get financial reports from the company?
8.Does Waste Management provide for "householding" of proxy materials?
9.What is the tax basis of my shares?
1.When was Waste Management incorporated?
 Waste Management was incorporated on September 30, 1987.

2.How could WM have been incorporated in 1987 when I have owned its stock since the early 80s?
 The company known today as Waste Management, Inc. was originally incorporated September 30, 1987 in Oklahoma under the name USA Waste Services, Inc. On April 28, 1995, USA Waste reincorporated in Delaware. Then, in 1998, USA Waste acquired the company formerly known as Waste Management, Inc. USA Waste changed its name to "Waste Management, Inc."

The company that USA Waste acquired, that had been known as "Waste Management, Inc.", was based in Oakbrook, Illinois, and was incorporated in Delaware in 1968. Therefore, you may have owned shares of that company's common stock. However, all of those shares have been exchanged for shares of our common stock.

3.I previously owned 100 shares of Waste Management stock, but know I only have 72 shares. What happened?
 In the merger between USA Waste and the former Waste Management (trading on the NYSE under the symbol "WMX"), .725 of a share of new Waste Management (WM) was issued for each share held in WMX.

4.Does Waste Management pay a quarterly or annual dividend?
 The timing and rate of any dividend is determined by Waste Management, Inc.'s Board of Directors as they shall deem advisable and proper, subject to such restrictions as may be imposed by law, and is evaluated on an ongoing basis for adjustment. Please see our Dividend History page under Stock Information for a detailed listing of dividend amounts and dates paid per common share.

5.Does Waste Management have a direct stock purchase plan and/or a dividend reinvestment plan?
 Computershare Shareowner Services, the transfer agent and registrar for Waste Management stock, administers a direct stock purchase plan for the company. To find out more about this program, contact Computershare directly at 800-969-1190 between the hours of 9:00 a.m. and 7:00 p.m. Eastern time, Monday through Friday.

6.How can I get on your email distribution list for press releases?
 To receive electronic distribution of our press releases, simply complete the form on our Email Alerts page on WM.com/Investor Relations/Email Alerts.

7.Why don't I get financial reports from the company?
 If you registered your shares in your name with the company at the time of purchase, you should receive notification of issuance of our annual reports. Contact Computershare Shareowner Services, Waste Management's transfer agent at 800-969-1190 to verify your address on file. If you purchased shares in "street name" and your broker holds them, then Waste Management provides shareholder materials to that broker. Please contact your broker directly to discuss any delivery problems.

8.Does Waste Management provide for "householding" of proxy materials?
 Yes. We have adopted a procedure approved by the SEC called “householding.” Under this procedure, stockholders of record who have the same address and last name and do not participate in electronic delivery of proxy materials will receive only one copy of the Annual Report and Proxy Statement unless we are notified that one or more of these individuals wishes to receive separate copies. This procedure helps reduce our printing costs and postage fees.

If you participate in householding and wish to receive a separate copy of this Proxy Statement and the Annual Report, please contact: Waste Management, Inc., Corporate Secretary, 1001 Fannin Street, Suite 4000, Houston, Texas 77002, telephone 713-512-6200.

If you do not wish to participate in householding in the future, and prefer to receive separate copies of the proxy materials, please contact: Broadridge Financial Solutions, Attention Householding Department, 51 Mercedes Way, Edgewood, NY 11717, telephone 1-800-542-1061. If you are eligible for householding but are currently receiving multiple copies of proxy materials and wish to receive only one copy for your household, please contact Broadridge.

9.What is the tax basis of my shares?
 To determine the tax basis of your shares when you sell them, use your adjusted cost: the share price plus commission paid to purchase the shares. You'll find that information on the statement you received from your broker at the time you purchased the shares. If you don't have that statement, contact your broker to get a replacement copy. To reconstruct records on your own, you will need to know the date of the original purchase, purchase price, broker commission, dividend reinvestment history and stock split history. A local library's microfilm archive is the best resource to find the value of shares on a particular date. Consult the S&P stock guide, the Value Line Investment Survey, the Wall Street Journal or the New York Times financial section for a history of stock prices, stock splits and dividends. If a stock paid dividends and the dividends were reinvested, all reinvested dividends need to be included in the cost basis along with the number of shares purchased.




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