Noble Environmental, Inc. Announces Closing of Inaugural Issuance of $100.0 million in Aggregate Principal Amount of Pennsylvania Economic Development Financing Authority Solid Waste Disposal Revenue Bonds (Noble Environmental, Inc. Project), Series 2025

Noble Environmental, Inc. (“Noble”) announced today that it has completed the sale of $100.0 million in aggregate principal amount of Pennsylvania Economic Development Finance Authority (the “Issuer” or “PEDFA”) Solid Waste Disposal Revenue Bonds (Noble Environmental, Inc. Project), Series 2025 (the “Bonds”). The Bonds, which were priced to yield 7.00%, have a coupon rate of 6.875% until the final maturity on September 1, 2047.

The Bonds are guaranteed by certain subsidiaries of Noble pursuant to a guaranty agreement and as described in the indenture relating to the Bonds. The Bonds are not a general obligation of the Issuer and do not constitute an indebtedness of or a charge against the general credit of the Issuer. The Bonds are not a debt of the Commonwealth of Pennsylvania and are payable solely from amounts received from Noble under the terms of the indenture.

“The transaction was significantly oversubscribed. The successful closing of the Bonds reflects Noble’s strong growth, recent execution and bright future,” noted Nick Stork, Executive Chairman of Noble. “I am incredibly proud of our management team, including Terry Cunningham, Alex Sulkowski, Niko Mermigas, Dave Florance, and Don Henrichs. I also want to thank the biogas development team, as we continue to add new renewable natural gas facilities to our asset base of vertically integrated landfills.”

"We are very appreciative for the support from PEDFA and the investor community of Noble’s inaugural tax-exempt bond offering," adds Terry Cunningham, Chief Financial Officer of Noble. "This transaction provides Noble with long-term, fixed-rate financing, enabling our ongoing investments in essential solid waste infrastructure throughout the Commonwealth of Pennsylvania."

J.P. Morgan Securities LLC served as bookrunner for the Bonds and Truist Securities, Inc. served as the co-manager. CTBH Partners LLC served as financial advisor to Noble. Winston & Strawn LLP served as counsel to Noble.

The Bonds were offered only to qualified institutional buyers as defined in Rule 144A under the Securities Act of 1933, as amended (the "Securities Act").

The Bonds have not been, and will not be, registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and other applicable securities laws.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Bonds, nor shall there be any sale of the Bonds in any jurisdiction in which such offer, solicitation or sale of any security in a state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

About Noble Environmental, Inc.

Noble, headquartered in Canonsburg, Pennsylvania, is a regional privately held vertically integrated solid waste management company, providing waste collection, transportation and disposal services through its platform of solid waste landfills and transfer stations throughout Pennsylvania, Ohio, and Maryland. Noble also designs, builds, and operates its own renewable natural gas facilities at its landfill gas generating landfill locations. Noble has a workforce of approximately 400 employees.

Safe Harbor Statement

Certain matters discussed in this press release are “forward-looking statements” intended to qualify for the safe harbors from liability established by the Private Securities Litigation of 1995. These forward-looking statements can generally be identified as such by the context of statements, including word such as Noble “will”, “intends”, and other similar expressions. Among the forward-looking statements in this press release are statements regarding the offering and sale of the Bonds. These forward-looking statements are based on current expectations and estimates and management's beliefs and assumptions. Noble expressly disclaims any obligation to update such statements to reflect any change in its expectations whether as a result of new information, future events or otherwise, except as required.

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