Element Named to Report on Business Magazine's Fifth Annual Women Lead Here Benchmark of Executive Gender Diversity

TORONTO, April 02, 2024 (GLOBE NEWSWIRE) -- Element Fleet Management Corp. (TSX:EFN) ("Element" or the "Company"), the largest publicly traded, pure-play automotive fleet manager in the world, is pleased to announce it has been included in the Globe and Mail's 2024 Report on Business magazine's annual Women Lead Here list.

"A large part of what makes Element special is our commitment to cultivating a culture of diversity, equity, inclusion and belonging, not just with our people, but among our clients and suppliers as well," said Laura Dottori-Attanasio, President and Chief Executive Officer at Element. "Being named to the Women Lead Here list is a testament to Element's unwavering dedication to fostering an environment where everyone has the opportunity to succeed."

Element's strategic focus for achieving greater gender representation across all leadership levels includes a robust framework for identifying and nurturing high-potential women; ensuring ongoing development, engagement and career progression; and facilitating leadership opportunities.

"Element's recognition in the Women Lead Here list is a milestone in the company's ongoing efforts to foster a diverse, equitable and inclusive workforce," said J'Nai Buchanan, Director of Diversity, Equity, Inclusion, and Belonging at Element. "Our commitment is reflected in our policies and practices and also in the tangible outcomes we've achieved ? notably in our representation and our focus on empowering women throughout the organization."

The Women Lead Here benchmark was established in 2020 by Report on Business magazine and applies a proprietary research methodology to provide an overview of the largest Canadian corporations with the highest degree of gender diversity among executive ranks.

Element's commitment to advancing diversity, equity, inclusion and belonging in its workforce has yielded important progress:

• Element's Board of Directors membership is 60 per cent women.
• More than 30 per cent of Element's senior leadership are women.
• More than 50 per cent of Element's workforce are women.
• More than 50 per cent of the company's internal promotions in 2023 were women.
• Element's Women's Business Resource Group (BRG) and elevateHer Intersection Diversity Network Stream create safe spaces for awareness, action, and an inclusive workplace for women at all career levels who aspire to grow and advance within Element through networking, professional development, and mentoring.
  

For the 2024 ranking, Report on Business conducted a journalistic analysis of approximately 500 large publicly traded Canadian companies based on revenue, evaluating the ratio of female-identifying to male-identifying executives in the top three tiers of executive leadership. The resultant data was applied to a weighted formula that also factored in company performance, diversity, and year-to-year change. In total, 97 companies earned the 2024 Women Lead Here seal. The full list of 2024 Women Lead Here honourees can be found in the here.

About Element Fleet Management

Element Fleet Management (TSX: EFN) 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 EVs 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. 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. 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 performance to be materially different from current expectations. Accordingly, readers should not place undue reliance on any forward-looking statements or information. A discussion of the material risks and assumptions associated with Element's future outlook can be found in Element's annual MD&A and Annual Information Form for the year ended December 31, 2023, each of which has been filed on SEDAR and can be accessed at www.sedarplus.ca. Except as required by applicable securities laws, Element undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.