Mr. David Madrigal reports

ELEMENT PARTNERS WITH WAYMO TO ENABLE THE FUTURE OF AUTONOMOUS MOBILITY AT SCALE

Element Fleet Management Corp. has entered a strategic multiyear partnership with Waymo, a leader in autonomous driving technology, to support the large-scale deployment and operation of autonomous vehicle fleets.

This partnership, enabled through Element Mobility, will provide end-to-end fleet management and operational services to support Waymo's autonomous mobility operation, beginning with an initial deployment in San Diego and expanding to additional markets over time. Designed to support long-term growth, the collaboration combines Element's capital strength, global operational expertise and intelligent mobility capabilities with Waymo's advanced AV technology and ride-hailing demand platform.

Autonomous mobility is rapidly advancing, and scaling these fleets requires more than vehicles on the road; it requires an integrated operational and digital orchestration layer, capable of managing fleet readiness, charging infrastructure, energy optimization, maintenance, compliance and real-time operational performance across markets.

Element brings that capability through a combination of global fleet scale, intelligent mobility technology, digital orchestration, operational execution and data-driven optimization designed to operate autonomous fleets efficiently, reliably and at scale.

"Autonomous mobility succeeds through operational intelligence, disciplined execution and the ability to perform reliably across markets," said David Madrigal, executive vice-president and chief commercial officer, Element Fleet Management. "This partnership combines Waymo's industry-leading autonomous technology with Element's global expertise in fleet management and operations. Together, we are enabling Waymo to scale autonomous mobility efficiently, reliably and at a premium standard across markets."

"Scaling autonomous mobility requires partners with proven operational discipline and global fleet expertise," said Nicole Gavel, head of business development and strategic partnerships at Waymo. "Element brings the infrastructure, execution and scale needed to deploy and operate Waymo's autonomous fleet reliably."

Element will support the fleet through vehicle life cycle management, charging infrastructure and energy management, maintenance co-ordination, and operational fleet optimization, ensuring high vehicle readiness and service reliability. Waymo plans to offer its ride-hailing service to the public through the Waymo app, while maintaining responsibility for the Waymo Driver's validation and performance.

By combining operational scale, intelligent mobility capabilities and infrastructure expertise, Element will enable Waymo to focus on customer experience and global growth. The partnership reflects Element Mobility's strategy to lead the next era of mobility through advanced technologies, strategic partnerships and innovative solutions.

About Element Fleet Management Inc.

Element Fleet Management is the largest publicly traded pure play automotive fleet manager in the world and a global leader in intelligent fleet and mobility solutions. Guided by its purpose to move the world through intelligent mobility, it helps clients manage the vehicles, data, technology and decisions that keep their businesses moving. Fleet is its foundation, and intelligent mobility is how it leads. By combining deep fleet expertise with connected technologies, data-driven intelligence and strategic partnerships, Element helps clients lower total cost of ownership, improve uptime and driver experience and build more resilient operations. Element manages over 1.5 million vehicles globally and leverages this scale and data to help clients optimize performance, identifying over $1.6-billion in cost savings opportunities across its clients' fleets in the past year. Through Element Mobility, it is advancing its leadership into the next era of intelligent mobility to deliver measurable business outcomes for its clients.

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