Ms. Laura Dottori-Attanasio reports

ELEMENT ANNOUNCES COLLABORATION WITH BYD

Element Fleet Management Corp. has begun operations at its newest global location in Singapore. This expansion marks a significant milestone in Element's continuing strategic initiative to enhance its global procurement capabilities and strategic sourcing relationships in Asia. In line with this expansion, Element has entered into a collaboration agreement with BYD, the world's leading new energy vehicle (NEV) manufacturer and power battery supplier.

Element's newly formed relationship with BYD reinforces a shared commitment to advancing sustainable, zero-emission solutions in the fleet management industry. It also complements the company's global alliance with Arval, further demonstrating Element's dedication to promoting decarbonization efforts worldwide.

"Establishing our presence in Singapore and partnering with a global leader like BYD underscores our commitment to innovation and sustainability in fleet management in Asia and across the world," said Laura Dottori-Attanasio, president and chief executive officer at Element. "These efforts mark an important step forward for Element as we strengthen our capabilities to meet the growing global demand for decarbonization solutions in the fleet industry."

"We are excited to partner with Element as we pursue shared goals in reducing the carbon footprint of the automotive industry," commented Stella Li, executive vice-president and chief executive officer of BYD Americas. "Our collaboration agreement is more than just a business partnership; it's a commitment to drive change and lead the way towards a more-sustainable future."

Leading Element's operations in Singapore is newly appointed Christine Lee Barber, head of Asia operations. Ms. Lee Barber, who has in-depth knowledge and expertise within the region, will be accountable for strategic sourcing and relationship management in order to solidify and expand Element's relationships with Asia-based original equipment manufacturers (OEMs).

"We are pleased to welcome Christine to our new Singapore operations," commented Ms. Dottori-Attanasio. "Her exceptional background, leadership and deep understanding of the Asian market will be instrumental in building new relationships in a region with tremendous growth opportunities and forging new paths for our sustainable fleet management initiatives."

The company remains committed to solidifying its position as a leader in sustainable fleet management, and to finding new ways to reduce emissions and promote a more-sustainable future for all.

About Element Fleet Management Corp.

Element Fleet Management is the largest publicly traded pure-play automotive fleet manager in the world, providing the full range of fleet services and solutions to a growing base of loyal, world-class clients -- corporations, governments and not-for-profits -- across North America, Australia and New Zealand. Element's services address every aspect of clients' fleet requirements, from vehicle acquisition, maintenance, accidents and remarketing to integrating 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 fleet operating costs and improve productivity and performance.

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