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    Davis Baynton • BMO Capital Markets

    Davis Baynton's questions to Enviri Corp (NVRI) leadership

    Davis Baynton's questions to Enviri Corp (NVRI) leadership • Q1 2025

    Question

    Davis Baynton of BMO Capital Markets asked for an update on the steel industry's excess capacity pressures and underlying market trends post-Q1. He also inquired if Clean Earth's efficiency gains were primarily from IT improvements or other initiatives.

    Answer

    Chairman and CEO F. Grasberger noted that while steel demand remains lackluster, a stronger second half is expected for Harsco Environmental due to new site ramp-ups and favorable comps, as detailed by SVP and CFO Tom Vadaketh. Grasberger also clarified that Clean Earth's efficiency gains are broad-based, stemming from operational improvements in routing and disposal, with major IT-driven efficiencies expected further out in 2026.

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    Davis Baynton's questions to Clean Harbors Inc (CLH) leadership

    Davis Baynton's questions to Clean Harbors Inc (CLH) leadership • Q1 2025

    Question

    Davis Baynton, on for Devin Dodge at BMO Capital Markets, requested an update on the progress of the Group III oil processing ramp-up.

    Answer

    Co-CEO Mike Battles reported that the Group III program is on track to produce 2-3 million more gallons in 2025 than in 2024, describing it as a slow but steady ramp. Co-CEO Eric Gerstenberg added that the partnership with BP Castrol is a key opportunity, with Castrol expressing strong interest in the Group III output.

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    Davis Baynton's questions to Clean Harbors Inc (CLH) leadership • Q1 2025

    Question

    Speaking on behalf of Devin Dodge, Davis Baynton requested an update on the progress of the Group III oil processing ramp-up.

    Answer

    Co-CEO Mike Battles reported that Group III production is on track to grow by 2-3 million gallons in 2025 over the prior year, describing it as a slow but steady ramp-up. Co-CEO Eric Gerstenberg added that the partnership with BP Castrol provides a strong opportunity to help grow and manage the Group III output.

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