Ms. Laura Dottori-Attanasio reports

ELEMENT EXPANDS STRATEGIC PARTNERSHIP WITH WAYMO AS AUTONOMOUS MOBILITY ARRIVES IN CANADA

Element Fleet Management Corp. has provided an update on the next phase of its strategic partnership with Waymo, supporting the company's planned launch in Toronto, which will mark Waymo's initial operations in Canada.

This announcement builds on the multiyear partnership announced in June, when Element began supporting Waymo's autonomous mobility operations in San Diego. The expansion to Toronto, expected in 2028, represents the next phase of the partnership and reinforces Element's growing role in supporting and scaling autonomous mobility operations across markets.

"As a global leader in fleet management and intelligent mobility solutions, we're proud to bring our expertise and innovation to Waymo's entry into Canada," said Laura Dottori-Attanasio, chief executive officer of Element Fleet Management. "This partnership demonstrates how Element is evolving to support the next generation of mobility: combining our fleet leadership, intelligent mobility solutions and operational capabilities to help our clients and partners scale efficiently and reliably across markets."

"Expanding into Canada marks an important milestone in Waymo's global journey," said Waymo co-CEO Tekedra Mawakana. "Toronto is one of the world's great cities -- innovative, diverse and forward-looking. We're proud to bring the Waymo Driver to Canada's largest city and to partner with the vibrant business, arts and cultural communities that share our commitment to safer streets and more accessible mobility."

Enabled through Element Mobility, Element's intelligent mobility division, the company will manage on-site operations for Waymo's Toronto fleet, further deepening its expertise in autonomous mobility. Element will co-ordinate the people, facilities, infrastructure and vehicle operations required to keep the fleet ready, available and operating efficiently. This includes capabilities across fleet life-cycle management, vehicle readiness and maintenance, charging infrastructure, energy management, and connected intelligence.

"We're thrilled to continue to build our growing partnership with Element Fleet Management as we begin preparing for autonomous ride-hailing in their hometown of Toronto," said Nicole Gavel, senior director, head of business development and strategic partnerships, Waymo. "Together with Element and our partners, we'll invest in hundreds of roles over time spanning fleet maintenance, validation driving, customer service and other operations functions that support our service."

By combining on-site operations with intelligent fleet management, Element will help ensure vehicles are charged, maintained, cleaned, serviced and ready for deployment while supporting the broader operations required to run the fleet. This integrated model is designed to maximize vehicle availability and utilization, reduce operational downtime, and provide a scalable foundation for autonomous mobility as Waymo expands.

About Element Fleet Management Corp.

Element Fleet Management is a global leader in intelligent fleet and mobility solutions. Guided by its purpose to move the world through intelligent mobility, Element helps clients manage the vehicles, data, technology and decisions that keep their businesses moving. Fleet is Element's 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-saving opportunities across Element'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 Element's clients.

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