Earnings release
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element News Release Amounts in US $ unless otherwise noted • • • Element Reports Solid Q2 2026 Results Generated adjusted² net revenue of $ 318 million , an increase of 10 % year - over - year with growth across all revenue categories Grew services revenue 8 % to $ 164 million as vehicles under management ( " VUM " ) increased by 3 % year - over - year to 1.561 million Delivered adjusted² diluted EPS of $ 0.34 , up 12 % , and expanded adjusted² return on equity to 19.6 % , up 210 basis points year - over - year Broadened our mobility platform through a strategic partnership with Waymo , providing fleet management expertise to the growing autonomous vehicle market Executed inaugural equity residual funding transaction , enhancing capital flexibility and enabling the repurchase of 8.1M common shares in 1H 2026 under the normal course issuer bid ( " NCIB " ) Initiated targeted organizational actions to reduce employee count by 8 % that will result in approximately $ 20 million of annualized run - rate savings , enabled by prior digitization and automation initiatives Reaffirmed all Full - Year 2026 Guidance ranges - TORONTO , ON , August 5 , 2026 Element Fleet Management Corp. ( TSX : EFN ) ( " Element " or the " Company " ) , the largest publicly traded , pure play automotive fleet manager in the world and a global leader in intelligent fleet and mobility solutions , today announced financial and operating results for the three and six - month periods ended June 30 , 2026. The following table presents Element's selected financial results . Q2 2026 Q1 2026 Q2 2025 QoQ YOY In US $ millions , except percentages and per share $ $ $ % % amount Selected results - as reported Net revenue 316.6 323.5 290.0 ( 2 % ) 9 % Pre - tax income ( income before income taxes ) 146.7 157.0 143.5 ( 7 % ) 2 % Pre - tax income margin 46.3 % 48.5 % 49.5 % ( 220 bps ) ( 320 bps ) Earnings per share ( EPS ) [ diluted ] 0.28 0.30 0.28 ( 7 % ) - % Adjusted results¹ , 2 Adjusted net revenue¹ , 2 318.1 323.5 290.0 ( 2 % ) 10 % Adjusted operating income ( AOI ) ² 176.9 181.9 161.9 ( 3 % ) 9 % Adjusted operating margin² 55.6 % 56.2 % 55.8 % ( 60 bps ) ( 20 bps ) Adjusted EPS² [ diluted ] 0.34 0.35 0.30 ( 2 % ) 12 % Other highlights : Adjusted free cash flow per share² ( FCF / sh ) - diluted 0.39 0.45 0.40 ( 13 % ) ( 3 % ) Originations 1,724 1,453 1,894 19 % ( 9 % ) Vehicles under management 1.561 1.565 1.512 - % 3 % Adjusted ROE² 19.6 % 20.3 % 17.5 % ( 70 bps ) 210 bps 1 . 2 . One - time costs in Q2 2026 included $ 11 million in severance expenses related to targeted organizational changes driven by the Company's digitization and automation initiatives , $ 3.7 million associated with the development of the equity residual program , and $ 0.5 million for payments to certain Car IQ personnel contingent upon their continued employment . In Q1 2026 , one - time items included $ 2 million associated with the development of the equity residual program and $ 4 million for payments to certain Car IQ personnel contingent upon their continued employment . No comparable one - time costs were incurred in Q2 2025. Q2 2026 also excluded $ 1.5 million of upfront costs associated with the inaugural equity residual transaction , reflected in syndication revenue . No comparable items were recorded in Q1 2026 or Q2 2025 . Adjusted results are non - GAAP or supplemental financial measures , which do not have any standard meaning prescribed by GAAP under IFRS and are therefore unlikely to be comparable to similar measures presented by other issuers . For further information , please see the " IFRS to Non - GAAP Reconciliations " section in this earnings release . The Company uses " Adjusted Results " because it believes that they provide useful information to investors regarding its performance and results of operations . " Our solid second - quarter performance reflects our ability to execute consistently while continuing to invest in the future of our business " said Laura Dottori - Attanasio , Chief Executive Officer of Element . " We are advancing our strategic priorities by strengthening client relationships and pursuing Page 1 of 11
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opportunities that build on our core fleet capabilities." Dottori-Attanasio continued, "As the fleet and mobility industry continue to evolve, we remain focused on helping our clients succeed while ensuring Element is well-positioned to deliver sustainable growth and long-term value creation for our shareholders." Adjusted net revenue growth Adjusted net revenue reached $318 million in Q2 2026, an increase of $28 million or 10% compared to Q2 2025 ("year-over-year"), supported by growth across all revenue segments. Compared to Q1 2026 ("quarter-over-quarter"), net revenue decreased by $5 million or 2%, primarily due to lower syndication revenue. Services revenue Element's largely unlevered services revenue continues to underpin the Company's capital-light business model and long-term growth strategy, contributing to the expansion in return on equity. Services revenue increased by $13 million or 8% year-over-year to $164 million, largely driven by the continued expansion in VUM and higher services revenue per VUM. On a quarter-over-quarter basis, services revenue grew by $2 million or 1%. Net financing revenue Net financing revenue totalled $136 million, up by $9 million or 7% compared to the prior year. Growth drivers included the continued value generated from our leasing and funding strategies, and higher net earning assets. Partially offsetting this growth were higher provisions for credit losses related to the client-specific item discussed last quarter, which has now been fully provided for. On a sequential basis, net financing revenue decreased by $2 million or 1%, largely due to lower net earning asset volumes and gains on sale ("GOS"). Syndication volume During the quarter, the Company executed $1.36 billion of combined syndication and equity residual funding volume, consisting of $634 million of syndicated assets and $729 million of assets transferred through the equity residual program. Core syndicated volumes increased by $97 million or 18% year- over-year, and decreased by $233 million or 27% quarter-over-quarter. Adjusted syndication revenue of $18 million , after reflecting the one-time $1.5 million adjustment associated with the inaugural equity residual transaction, grew by $7 million or 58% compared to the prior year, primarily reflecting higher syndicated volumes, the reinstatement of 100% bonus depreciation, and continued investor demand for the Company's syndication products. Compared to Q1 2026 , revenue decreased by $6 million or 23%, reflecting the evolving funding mix following the introduction of the equity residual program, under which a greater proportion of returns is recognized over the life of the lease. The equity residual program complements the traditional syndication channel by expanding funding capacity and enhancing capital flexibility. The Company evaluates funding opportunities across both channels based on relative economics and strategic considerations. As the program scales, a portion of funding activity that may have historically been syndicated may instead be funded through this structure, supporting increased capital deployment opportunities, including share repurchases. Adjusted operating expenses Adjusted operating expenses were up by $13 million or 10% compared to Q2 2025, totalling $141 million, and were unchanged from Q1 2026 . The year-over-year increase was largely attributable to higher depreciation and amortization expenses, inflationary increases, and continued investment in strategic Page 2 of 11
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initiatives, including additional headcount and resources associated with the Car IQ acquisition and the recently announced Waymo partnership. Adjusted operating expense growth reflects targeted investments in strategic initiatives to support long-term growth. The organizational actions initiated during the quarter, together with the continued realization of efficiencies from prior investments, are expected to moderate the level of expense growth and support consistent positive operating leverage. Enabled by the Company's automation and digitization initiatives, these actions are expected to reduce the employee count by 8%, resulting in approximately $20 million of annualized expense run-rate savings in 2027. Adjusted operating income and adjusted operating margins AOI for Q2 2026 was $177 million , an increase of $15 million or 9% compared to Q2 2025 , and a decrease of $5 million or 3% compared to Q1 2026. Adjusted operating margin in Q2 2026 was 55.6%, down from 55.8% in Q2 2025, and 56.2% in Q1 2026. Originations Element originated $1.7 billion of assets in Q2 2026, down by $170 million or 9% compared to Q2 2025, largely due to the reduction in volume from the originate-to-syndicate client discussed last quarter. Excluding the impact of this one client, total originations in H1 2026 increased 4% year-over-year versus H1 2025. This client's activity reached a high-water mark in Q2 of last year, resulting in a year- over-year headwind that is expected to moderate through the balance of the year. On a quarter-over-quarter basis, originations increased by $271 million or 19% from Q1 2026, reflecting broad-based strength across our geographies. The table below sets out the geographic distribution of Element's originations for the three-month periods indicated. (in US$000’s for stated values) June 30, 2026 March 31, 2026 June 30, 2025 $ % $ % $ % United States and Canada 1,268,535 74% 1,086,920 75% 1,511,929 80% Mexico 346,165 20% 271,359 19% 285,031 15% Australia and New Zealand 109,513 6% 94,573 6% 97,420 5% Total 1,724,213 100% 1,452,852 100% 1,894,380 100% Adjusted free cash flow per share and returns to shareholders Adjusted diluted free cash flow ("FCF") per share was $0.39 in Q2 2026 , down 3% year-over-year, primarily reflecting higher cash tax payments, and down 13% quarter-over-quarter due to the timing of capital expenditures and cash tax payments. Full-year sustaining capital expenditures are expected to remain broadly consistent with prior-year levels. Element returned $163 million to shareholders during the quarter, comprised of $43 million in common share dividends and $120 million through common share repurchases. Common dividend and share repurchases The Company's Board of Directors (the "Board") authorized and declared a quarterly cash dividend of CAD$0.15 per common share of Element for the third quarter of 2026. The dividend will be payable on October 15, 2026 to shareholders of record as at the close of business on September 30, 2026. The Company’s common dividends are designated to be eligible dividends for purposes of section 89(1) of the Income Tax Act (Canada). In furtherance of the Company’s return of capital plan, Element renewed its normal course issuer bid (the “NCIB”) for its common shares. Under the NCIB, the Company has approval from the TSX to Page 3 of 11
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purchase up to 39,930,568 common shares during the period of November 20, 2025 , to November 19, 2026. The Company intends to remain active under its NCIB in 2026. The actual number of the Company's common shares, if any, that may be purchased under the NCIB, and the timing of any such purchases, will be determined by the Company, subject to applicable terms and limitations of the NCIB (including any automatic share purchase plan adopted in connection therewith). There cannot be any assurance as to how many common shares, if any, will ultimately be purchased pursuant to the NCIB. Any subsequent renewals of the NCIB will be in the discretion of the Company and subject to further TSX approval. During the first six-months of 2026, the Company purchased 8,114,400 Common Shares for cancellation under its NCIB at a volume weighted average price of CAD $29.69. Element applies trade date accounting in determining the date on which the share repurchase is reflected in the consolidated financial statements. Trade date accounting is the date on which the Company commits itself to purchase the shares. Debt-to-capital leverage ratio At June 30, 2026 , the Company's debt-to-capital ratio was 76.5% (December 31, 2025 - 76.9%), within the target range of 73% to 77%. The Company remains committed to maintaining a strong investment grade balance sheet. Page 4 of 11
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Conference call and webcast A conference call to discuss these results will be held on Thursday, August 6, 2026 at 8:00 a.m. Eastern Time. The conference call and webcast can be accessed as follows: Webcast: https://www.elementfleet.com/secondquarter2026 Telephone: Click here to join the call most efficiently, or dial one of the following numbers to speak with an operator: Canada/USA toll-free: 1-800-715-9871 International: +1-647-932-3411 A taped recording of the conference call may be accessed through September 6, 2026 by dialing 1-800-770-2030 (Canada/U.S. Toll Free) or 1-647-362-9199 (International Toll) and entering the access code 9758041#. Page 5 of 11
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IFRS to Non-GAAP Reconciliations, Non-GAAP Measures and Supplemental Information The Company's Unaudited Interim Condensed Consolidated Financial Statements have been prepared in accordance with IFRS as issued by the IASB and the accounting policies we adopted in accordance with IFRS. These Unaudited Interim Condensed Consolidated Financial Statements reflect all adjustments that are, in the opinion of management, necessary to present fairly the Company's financial position as at June 30, 2026 and June 30, 2025, the results of operations, comprehensive income and cash flows for the three-month period ended June 30, 2026 , March 31, 2026 and June 30, 2025, and six-month period ended June 30, 2026 and June 30, 2025. Non-GAAP and IFRS key annualized operating ratios and per share information of the operations of the Company: As at and for the three-month period ended As at and for the six-month period ended (in US$000’s except ratios and per share amounts or unless otherwise noted) June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Key annualized operating ratios Leverage ratios Financial leverage ratio P2/(P2+R) 76.5% 76.4% 76.1% 76.5% 76.1% Average financial leverage ratio Q/(Q+V) 76.5% 76.6% 76.1% 76.6% 75.8% Other key operating ratios Allowance for credit losses as a % of total finance receivables before allowance F/E 0.26% 0.20% 0.10% 0.26% 0.10% Adjusted operating income on average net earning assets B/J 8.36% 8.35% 8.13% 8.36% 8.08% Adjusted operating income on average tangible total equity of Element D/(V-L) 50.3% 51.8% 43.5% 51.0% 43.2% Per share information Number of shares outstanding W 391,332 397,064 401,436 391,332 401,436 Weighted average number of shares outstanding [basic] X 394,744 398,123 401,668 396,424 402,580 Weighted average number of shares outstanding [diluted] Y 394,876 398,280 401,881 396,613 402,762 Net income per share [basic] A/X $0.28 $0.30 $0.28 $0.58 $0.53 Net income per share [diluted] A/Y $0.28 $0.30 $0.28 $0.58 $0.53 Adjusted EPS [basic] D/X $0.34 $0.35 $0.30 $0.68 $0.58 Adjusted EPS [diluted] D/Y $0.34 $0.35 $0.30 $0.68 $0.58 Management also uses a variety of both IFRS and non-GAAP and Supplemental Measures, and non- GAAP ratios to monitor and assess their operating performance. The Company uses these non-GAAP and Supplemental Financial Measures because they believe that they may provide useful information to investors regarding their performance and results of operations. Page 6 of 11
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The following table provides a reconciliation of certain IFRS to non-GAAP measures related to the operations of the Company and other supplemental information. For the three-month period ended For the six-month period ended (in US$000’s except per share amounts or unless otherwise noted) June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Reported results $ $ $ $ $ Services income, net 163,865 162,125 151,336 325,990 303,818 Net financing revenue 135,863 137,518 127,082 273,381 238,638 Syndication revenue, net 16,874 23,873 11,608 40,747 23,241 Net revenue 316,602 323,516 290,026 640,118 565,697 Operating expenses 160,928 157,472 138,509 318,400 273,516 Operating income 155,674 166,044 151,517 321,718 292,181 Operating margin 49.2% 51.3% 52.2% 50.3% 51.6% Total expenses 169,938 166,534 146,576 336,472 285,776 Income before income taxes 146,664 156,982 143,450 303,646 279,921 Net income attributable to common shareholders A 110,907 118,542 112,366 229,449 214,616 EPS [basic] 0.28 0.30 0.28 0.58 0.53 EPS [diluted] 0.28 0.30 0.28 0.58 0.53 Adjusting items Impact of adjusting items on net revenue: Non-recurring items - Syndication revenue 1,490 — — 1,490 — Total impact of adjusting items on net revenue 1,490 — — 1,490 — Impact of adjusting items on operating expenses: Strategic initiatives costs – Salaries, wages, and benefits 11,245 4,361 — 15,606 — Strategic initiatives costs – General and administrative expenses 3,699 2,203 — 5,902 — Share-based compensation 4,790 9,335 10,333 14,125 20,516 Total impact of adjusting items on operating expenses 19,734 15,899 10,333 35,633 20,516 Total pre-tax impact of adjusting items 21,224 15,899 10,333 37,123 20,516 Total after-tax impact of adjusting items 16,035 12,012 7,724 28,046 15,336 Total impact of adjusting items on EPS [basic] 0.04 0.03 0.02 0.07 0.04 Total impact of adjusting items on EPS [diluted] 0.04 0.03 0.02 0.07 0.04 Page 7 of 11
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For the three-month period ended For the six-month period ended (in US$000’s except per share amounts or unless otherwise noted) June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Adjusted results $ $ $ $ $ Adjusted net revenue 318,092 323,516 290,026 641,608 565,697 Adjusted operating expenses 141,194 141,573 128,176 282,767 253,000 Adjusted operating income 176,898 181,943 161,850 358,841 312,697 Adjusted operating margin 55.6 % 56.2 % 55.8 % 55.9 % 55.3 % Provision for income taxes 35,748 38,440 31,084 74,188 65,305 Adjustments: Pre-tax income 7,919 6,408 4,655 14,327 8,401 Foreign tax rate differential and other (415) (363) 5,128 (778) 5,250 Provision for taxes applicable to adjusted results C 43,252 44,485 40,867 87,737 78,956 Adjusted net income attributable to common shareholders D 133,637 137,458 120,983 271,095 233,741 Adjusted EPS [basic] 0.34 0.35 0.30 0.68 0.58 Adjusted EPS [diluted] 0.34 0.35 0.30 0.68 0.58 The following table summarizes key statement of financial position amounts for the periods presented. Selected statement of financial position amounts For the three-month period ended For the six-month period ended (in US$000’s unless otherwise noted) June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 $ $ $ $ $ Total Finance receivables, before allowance for credit losses E 7,667,134 7,853,418 8,454,488 7,667,134 8,454,488 Allowance for credit losses F 19,648 15,344 8,870 19,648 8,870 Net investment in finance receivable G 4,956,017 5,587,233 5,645,443 4,956,017 5,645,443 Equipment under operating leases H 3,005,941 2,852,268 2,644,722 3,005,941 2,644,722 Net earning assets I=G+H 7,961,958 8,439,501 8,290,165 7,961,958 8,290,165 Average net earning assets J 8,482,370 8,839,618 7,987,751 8,660,994 7,803,050 Goodwill and intangible assets K 1,659,545 1,667,431 1,660,538 1,659,545 1,660,538 Average goodwill and intangible assets L 1,664,761 1,674,818 1,661,213 1,669,789 1,662,131 Borrowings M 9,431,337 9,564,599 9,441,705 9,431,337 9,441,705 Continuing involvement liability O (269,999) (183,500) (145,014) (269,999) (145,014) Total debt P=M-O 9,161,338 9,381,099 9,296,691 9,161,338 9,296,691 Cash and restricted funds P1 504,337 662,361 470,372 504,337 470,372 Total net debt P2 = P-P1 8,657,001 8,718,738 8,826,319 8,657,001 8,826,319 Average debt Q 8,890,196 9,018,957 8,852,832 8,954,576 8,608,348 Total shareholders' equity R 2,666,355 2,696,275 2,775,053 2,666,355 2,775,053 Common shareholders' equity T 2,665,054 2,696,275 2,775,053 2,665,054 2,775,053 Average common shareholders' equity U 2,730,465 2,752,026 2,776,435 2,741,246 2,753,710 Average total shareholders' equity V 2,730,899 2,752,026 2,776,435 2,741,463 2,753,710 Throughout this press release, management uses the following terms and ratios which do not have a standardized meaning under IFRS and are unlikely to be comparable to similar measures presented by other organizations. Non-GAAP measures are reported in addition to, and should not be considered alternatives to, measures of performance according to IFRS. Page 8 of 11
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Adjusted operating expenses Adjusted operating expenses are equal to salaries, wages and benefits, general and administrative expenses, and depreciation and amortization less adjusting items impacting operating expenses. The following table reconciles the Company's reported expenses to adjusted operating expenses. For the three-month period ended For the six-month period ended (in US$000’s except per share amounts or unless otherwise noted) June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 $ $ $ $ $ Reported Expenses 169,938 166,534 146,576 336,472 285,776 Less: Amortization of intangible assets from acquisitions 8,971 8,979 7,829 17,950 15,628 Loss / (Gain) on investments 39 83 238 122 (3,368) Operating expenses 160,928 157,472 138,509 318,400 273,516 Less: Share-based compensation 4,790 9,335 10,333 14,125 20,516 Strategic initiatives costs - Salaries, wages and benefits 11,245 4,361 — 15,606 — Strategic initiatives costs - General and administrative expenses 3,699 2,203 — 5,902 — Total adjustments 19,734 15,899 10,333 35,633 20,516 Adjusted operating expenses 141,194 141,573 128,176 282,767 253,000 Adjusted operating income or pre-tax adjusted operating income Adjusted operating income reflects net income or loss for the period adjusted for the share-based compensation, amortization of intangible assets from acquisitions, provision for or recovery of income taxes, loss or income on investments, and adjusting items from the table below. The following table reconciles income before taxes to adjusted operating income. For the three-month period ended For the six-month period ended (in US$000’s except per share amounts or unless otherwise noted) June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 $ $ $ $ $ Income before income taxes 146,664 156,982 143,450 303,646 279,921 Amortization of intangible assets from acquisitions 8,971 8,979 7,829 17,950 15,628 Loss / (Gain) on investments 39 83 238 122 (3,368) Operating income 155,674 166,044 151,517 321,718 292,181 Adjusting Items: Share-based compensation 4,790 9,335 10,333 14,125 20,516 Non-recurring items - Syndication revenue 1,490 — — 1,490 — Strategic initiatives costs - Salaries, wages and benefits 11,245 4,361 — 15,606 — Strategic initiatives costs - General and administrative expenses 3,699 2,203 — 5,902 — Total pre-tax impact of adjusting items 21,224 15,899 10,333 37,123 20,516 Adjusted operating income B 176,898 181,943 161,850 358,841 312,697 Adjusted operating margin Adjusted operating margin is the adjusted operating income before taxes for the period divided by the adjusted net revenue for the period. Page 9 of 11
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Adjusted net income attributable to common shareholders Adjusted net income attributable to common shareholders reflects reported net income attributable to shareholders less the after-tax impacts of adjusting items. The following table reconciles reported net income attributable to common shareholders to adjusted net income attributable to common shareholders. For the three-month period ended For the six-month period ended (in US$000’s except per share amounts or unless otherwise noted) June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 $ $ $ $ $ Net income attributable to common shareholders 110,907 118,542 112,366 229,449 214,616 Share-based compensation 4,790 9,335 10,333 14,125 20,516 Amortization of intangible assets from acquisition 8,971 8,979 7,829 17,950 15,628 Loss / (Gain) on investments 39 83 238 122 (3,368) Non-recurring items - Syndication revenue 1,490 — — 1,490 — Strategic initiatives costs - Salaries, wages and benefits 11,245 4,361 — 15,606 — Strategic initiatives costs - General and administrative expenses 3,699 2,203 — 5,902 — Provision for income taxes 35,748 38,440 31,084 74,188 65,305 Provision for taxes applicable to adjusted results (43,252) (44,485) (40,867) (87,737) (78,956) Adjusted net income attributable to common shareholders 133,637 137,458 120,983 271,095 233,741 Adjusted net revenue Adjusted net revenue is equal to reported net revenue plus or minus adjusting items impacting net financing revenue, services revenue, or syndication revenue. The following table reconciles the Company's reported revenue to adjusted net revenue. For the three-month period ended For the six-month period ended (in US$000’s except per share amounts or unless otherwise noted) June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Reported results $ $ $ $ $ Services income, net 163,865 162,125 151,336 325,990 303,818 Net financing revenue 135,863 137,518 127,082 273,381 238,638 Syndication revenue, net 16,874 23,873 11,608 40,747 23,241 Reported Net revenue 316,602 323,516 290,026 640,118 565,697 Adjusting items Impact of adjusting items on net revenue: Non-recurring items - Syndication revenue 1,490 — — 1,490 — Total impact of adjusting items on net revenue 1,490 — — 1,490 — Adjusted net revenue 318,092 323,516 290,026 641,608 565,697 Page 10 of 11
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About Element Fleet Management Element Fleet Management (TSX: EFN) 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 our Purpose to Move the world through intelligent mobility , we help clients manage the vehicles, data, technology, and decisions that keep their businesses moving. Fleet is our foundation, and intelligent mobility is how we lead. 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 our clients’ fleets in the past year. Through Element Mobility, we are advancing our leadership into the next era of intelligent mobility to deliver measurable business outcomes for our clients. For more information, visit: https://www.elementfleet.com Contacts: Sumit Malhotra SVP & Head of Financial Performance (437) 343-7723 smalhotra@elementcorp.com Crystal Zhu Manager, Investor Relations (437) 341-3789 czhu@elementcorp.com This press release includes forward-looking statements regarding Element and its business. Such statements are based on management’s current expectations and views of future events. In some cases the forward-looking statements can be identified by words or phrases such as “may”, “will”, “expect”, “plan”, “anticipate”, “intend”, “potential”, “estimate”, “believe” or the negative of these terms, or other similar expressions intended to identify forward-looking statements, including, among others, statements regarding Element’s financial performance, including future cash flows, financial condition, operating performance, operating income, financial ratios, capital structure and capital expenditures; expectations regarding acquisitions and strategic initiatives and the benefits to be derived therefrom; expected enhancements to client experience; expectations regarding client and revenue retention trends; management of operating expenses; increases in efficiency; Element achieving its digital platform ambitions; the Element Mobility strategy enabling the Company to increase client and shareholder value and unlock new revenue streams; EV strategy and capabilities; global EV adoption rates; dividend policy and the payment of future dividends; the costs and benefits of strategic initiatives; creation of value for all stakeholders; expectations regarding syndication; growth prospects and expected revenue growth; level of workforce engagement; improvements to magnitude and quality of earnings; executive hiring and retention; focus and discipline in investing; balance sheet management and plans and expectations with respect to leverage ratios; Element's ability to achieve its sustainability objectives; and Element’s proposed share purchases, including the number of common shares to be repurchased, the timing thereof and TSX acceptance of the NCIB and any renewal thereof. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause Element’s actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Such risks and uncertainties include those regarding the fleet management, mobility and finance industries, economic factors, regulatory landscape and many other factors beyond the control of Element. A discussion of the material risks and assumptions associated with this outlook can be found in Element’s annual MD&A, and Annual Information Form for the year ended December 31, 2025, each of which has been filed on SEDAR+ and can be accessed at www.sedarplus.ca. Except as required by applicable securities laws, forward- looking statements speak only as of the date on which they are made and Element undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Page 11 of 11