Element Appoints James Lee to the Board of Directors

TORONTO, Sept. 1, 2026 /CNW/ -- Element Fleet Management Corp. (TSX: EFN) ("Element" or the "Company"), the largest publicly traded, pure-play automotive fleet manager in the world and global leader in intelligent fleet and mobility solutions, today announced that James Lee has been appointed to the Company's Board of Directors.

Mr. Lee is a strategic and operational leader with a 20-year track record of driving growth and transformation in the technology industry. He currently serves as Chief Operating Officer of Bentley Systems, Incorporated (Nasdaq: BSY), a U.S. 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, Incorporated (Nasdaq: BSY), a U.S. headquartered infrastructure engineering software company. Prior to joining Bentley, he served as General Manager of Startups and AI 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

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.

This press release includes forward-looking statements regarding Element and its business. Such statements are based on the current expectations and views of future events of Element's management. 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. 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 and finance industries, economic factors 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.

SOURCE Element Fleet Management Corp.

Element Contacts: Media Contact: Amanda Mills Sirois, Senior Manager, Corporate Affairs, 437-352-1050; Investor Relations: Sumit Malhotra, SVP & Head of Financial Performance, 437-343-7723, [email protected]