Ms. Kathleen Taylor reports

ELEMENT NOMINATES PAOLO FERRARI AND TRACEY MCVICAR FOR ELECTION TO THE BOARD OF DIRECTORS

Element Fleet Management Corp. has nominated Paolo Ferrari and Tracey McVicar to stand for election to the company's board of directors at its annual general meeting of shareholders on May 2, 2025. They are being nominated to replace Andrew Clarke and Arielle-Meloul Wechsler, who have decided not to stand for re-election.

Mr. Ferrari is a seasoned global executive, most recently holding the roles of chief executive officer of Bridgestone Americas, chief executive officer of Bridgestone West and joint global chief operations officer of Bridgestone Corp. He is also the former chief executive officer of Pirelli North America and Latin America, and held prior executive roles in telecommunications, technology and investment banking.

Ms. McVicar is a partner at CAI Capital Partners, a private equity firm she joined in 2003. She previously held senior positions in investment banking at Raymond James Ltd. and RBC Capital Markets. Ms. McVicar is also a past director of Teck Resources Ltd., where she served as chair of the audit committee and a past director of BC Hydro Corp., where she chaired the audit and finance committee.

"We are pleased to nominate Paolo Ferrari and Tracey McVicar to our board," said Element board chair Kathleen Taylor. "Paolo and Tracey bring integral skills, perspectives and experience, and we are confident they will be tremendous assets to the company. We would also like to thank our outgoing board members, Andrew Clarke and Arielle Meloul-Wechsler, for their valuable support and contributions to Element."

Further details about Element's nominated directors can be found in our management information circular, which is available on SEDAR+.

Delivering value through global growth strategy

Continuing to demonstrate how Element is driving growth, and delivering value to its clients, shareholders and team members, the company also announced the release of its inaugural annual report. The report provides stakeholders with a clear and comprehensive overview of the company's strategy, vision, operations and financial performance for 2024. It also highlights key trends shaping the fleet and mobility industry, and how the strategic investments Element made in 2024 will drive the company's continued industry leadership across fleet and mobility, setting a strong foundation for future success. More details are available in Element's 2024 annual report.

About Element Fleet Management Corp.

Element Fleet Management is the largest publicly traded pure-play automotive fleet manager in the world. As a purpose-driven company, Element provides a full range of sustainable and intelligent mobility solutions to optimize and enhance fleet performance for its clients across North America, Australia and New Zealand. Element's services address every aspect of its clients' fleet requirements, from vehicle acquisition, maintenance, route optimization, risk management and remarketing, to advising on decarbonization efforts, integration of electric vehicles and managing the complexity of gradual fleet electrification. Clients benefit from Element's expertise as one of the largest fleet solutions providers in its markets, offering economies of scale and insight used to reduce operating costs, and enhance efficiency and performance. Element maximizes its clients' fleet so they can focus on growing their business.

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