NOTE A1 — RESTATEMENT

The unaudited quarterly financial data for the quarter ended March 31, 2015 has been restated for errors related to the timing of recognition of loss reserves between quarterly periods associated with the Company’s previously disclosed settlement of the TCPA Action and Qui Tam Action. The Company determined that the estimated loss contingency for the first quarter of fiscal 2015 was understated by $73.5 million, resulting in an overstatement of net income of $46.5 million for the three month period ended March 31, 2015.

The Company’s Condensed Consolidated Statements of Income; Condensed Consolidated Statements of Comprehensive Income; Condensed Consolidated Statements of Cash Flows; Note 5 - Income Taxes; Note 8 - Earnings Per Common Share; and Note 12 - Geographic Information; included in this Form 10-Q/A have been restated to correct the misstatements described above.

The following are previously reported and restated balances of affected line items in the Condensed Consolidated Statement of Income and Condensed Consolidated Statement of Comprehensive Income, and the Condensed Consolidated Statement of Cash Flows for the three months ended March 31, 2015 (Unaudited).

Condensed Consolidated Statement of Income
	Three Months Ended March 31, 2015
	As Reported			Adjustment			Restated
Selling, general and administrative expenses (exclusive of depreciation and amortization)	$	141,363		$	73,500		$	214,863
Total costs and expenses		536,266			73,500			609,766
Income from operations		127,053			(73,500	)		53,553
Income before income taxes		107,857			(73,500	)		34,357
Income tax expense		32,047			(26,982	)		5,065
Net income		75,810			(46,518	)		29,292
Net income attributable to Stericycle, Inc.		75,458			(46,518	)		28,940
EPS – basic		0.89			(0.55	)		0.34
EPS – diluted		0.87			(0.53	)		0.34

Condensed Consolidated Statement of Comprehensive Income
	Three Months Ended March 31, 2015
	As Reported			Adjustment			Restated
Net income	$	75,810		$	(46,518	)	$	29,292
Comprehensive income/ (loss)		6,975			(46,518	)		(39,543	)
Comprehensive income/ (loss)attributable to Stericycle, Inc.		7,443			(46,518	)		(39,075	)

Condensed Consolidated Statement of Cash Flows	Three Months Ended March 31, 2015
	As Reported			Adjustment			Restated
Net income	$	75,810		$	(46,518	)	$	29,292
Deferred income taxes		(2,957	)		(26,982	)		(29,939	)
Accrued liabilities		35,924			73,500			109,424