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Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Element Fleet Announces Annual Meeting Voting Results

May 8, 2019

TORONTO, May 08, 2019 (GLOBE NEWSWIRE) -- Element Fleet Management Corp. (TSX:EFN) (“Element” or the “Company”), a leading global fleet management company, confirmed today that the nine nominees listed in its management information circular (the “Circular”) dated April 9, 2019 were elected as directors at the Annual Meeting of Shareholders held on May 8, 2019 in Toronto, Ontario (the “Meeting”), with each director receiving in excess of 98% of votes cast in favour of their election. A total of 338,037,181 common shares (approximately 77.83% of the outstanding common shares) were represented in person or by proxy at the Meeting.

“We would like to thank our shareholders for their tremendous support of Element”, said Jay Forbes, President and Chief Executive Officer of the Company. “We remain committed to executing on our client-centric transformation plan and fulfilling Element’s potential to be the leading fleet management company in our industry.”

The detailed results of the vote for the election of directors at the Meeting are set out below:

Votes for % for Votes withheld % withheld David F. Denison 302,278,028 99.77 696,702 0.23 Andrew Clarke 300,757,223 99.27 2,217,507 0.73 Paul D. Damp 300,595,196 99.21 2,379,534 0.79 Jay Forbes 302,335,818 99.79 638,912 0.21 G. Keith Graham 298,481,622 98.52 4,493,108 1.48 Alexander D. Greene 302,318,270 99.78 656,460 0.22 Joan Lamm-Tennant 298,315,518 98.46 4,659,212 1.54 Rubin J. McDougal 302,321,464 99.78 653,266 0.22 Andrea Rosen 302,119,507 99.72 855,223 0.28

Following the Meeting, each of the committees of the board of directors of Element will be reconstituted to consist of the following members:

Audit Committee Compensation and Corporate Governance Committee Credit & Risk Committee Paul D. Damp (Chair) Joan Lamm-Tennant (Chair) Rubin McDougal (Chair) Andrew Clarke David F. Denison Andrew Clarke Alexander D. Greene G. Keith Graham Alexander D. Greene G. Keith Graham Andrea Rosen Andrea Rosen

In addition, shareholders approved an advisory resolution on executive compensation (“Say on Pay”) with 95.35% of votes cast in favour of the resolution, and approved the re-appointment of Ernst & Young LLP as the Company’s independent auditors.

For complete results on all matters voted at the meeting, see Element’s Report of Voting Results filed on SEDAR at www.sedar.com.

About Element Fleet Management

Element Fleet Management (TSX: EFN) is a leading global fleet management company, providing world-class services and financing for commercial vehicle fleets. The Company enjoys scale and leadership in key markets, a top-tier client base, strong cash flow and ready access to capital, and an investment-grade balance sheet. Element’s suite of services spans the total fleet lifecycle – from acquisition and financing to program management and remarketing – helping clients optimize performance and improve productivity. For more information, visit 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, including, among others, statements regarding Element’s future growth and prosperity. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting Element, including risks regarding the fleet management and finance industries, economic factors, and many other factors beyond the control of Element. 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 our 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. A discussion of the material risks and assumptions associated with this outlook can be found in Element’s current MD&A and Annual Information Form, all of which have been filed on SEDAR and can be accessed at www.sedar.com. Accordingly, readers should not place undue reliance on any forward-looking statements or information. 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.

Contact:

Michael Barrett Vice President, Investor Relations (416) 646-5698 mbarrett@elementcorp.com