General

The notes will be senior unsecured obligations of BFI and will initially be limited to US$500,000,000 aggregate principal amount, all of which will be issued under the Twelfth Supplemental Indenture. The notes will mature on March 3, 2055. The notes will bear interest at the rate of 5.813% per annum from March 3, 2025, or from the most recent interest payment date to which interest has been paid or provided for, payable semi-annually in arrears on March 3 and September 3 of each year, commencing on September 3, 2025, to the Persons in whose name the notes are registered at the close of business on the preceding February 15 or August 15, as the case may be. The notes will bear interest on overdue principal and premium, if any, and, to the extent permitted by law, overdue interest at 5.813% per annum plus 1%.

The notes and the obligations of BFI under the Indenture will be fully and unconditionally guaranteed by the Company.