Ms. Kathleen Taylor reports

ELEMENT APPOINTS JAMES LEE TO THE BOARD OF DIRECTORS

Element Fleet Management Corp. has appointed James Lee to the company's board of directors.

Mr. Lee is a strategic and operational leader with a 20-year record of driving growth and transformation in the technology industry. He currently serves as chief operating officer of Bentley Systems Inc. (Nasdaq: BSY), a United States headquartered infrastructure engineering software company, where he is responsible for strengthening cross-functional planning and execution, driving operational excellence, and overseeing corporate development. Prior to joining Bentley, Mr. Lee held key roles with Google and SAP.

"We are delighted to have the opportunity to welcome James to our board," said Kathleen Taylor, chair of Element's board of directors. "His experience supporting technology organizations through periods of transformation and growth will be a strong addition as we continue to oversee the execution of Element's strategy and the evolution of the company's digital capabilities."

"I am honoured to join Element's board of directors," said James Lee. "Element has established itself as a global mobility leader through its client focus, operational excellence and commitment to innovation. I look forward to working with my fellow directors and the management team to help advance the company's strategic priorities and support its continued growth."

"James brings extensive experience leading global technology organizations, along with a deep understanding of how digital innovation can create meaningful value for clients and stakeholders," said Laura Dottori-Attanasio, chief executive officer of Element. "We are delighted that he has agreed to join us. His perspective, expertise and leadership will be valuable as we continue to strengthen our capabilities, elevate our client experience, and deliver on our strategic priorities."

About James Lee

Mr. Lee currently serves as chief operating officer of Bentley Systems Inc. (Nasdaq: BSY), a United States headquartered infrastructure engineering software company. Prior to joining Bentley, he served as general manager of start-ups and AI (artificial intelligence) at Google Cloud, where he helped to build Google Cloud Platform into the platform of choice for AI development, and led Google Cloud's strategic initiatives for the Americas. Before Google, he spent 12 years at SAP, including serving as COO for SAP Ariba and Fieldglass, and as COO and general manager of sales for SAP Greater China. Mr. Lee holds an MBA from Harvard Business School and a bachelor of commerce from the University of British Columbia and was named one of the Outstanding 50 Asian Americans in Business by the Asian American Business Development Center (AABDC) in 2019.

About Element Fleet Management Corp.

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 the company's Purpose to Move the world through intelligent mobility, the company helps clients manage the vehicles, data, technology and decisions that keep their businesses moving. Fleet is its foundation, and intelligent mobility is how the company 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 $1.7-billion in cost-savings opportunities across the company's clients' fleets in the past year. Through Element Mobility, the company is advancing its leadership into the next era of intelligent mobility to deliver measurable business outcomes for its clients.

We seek Safe Harbor.