Slide 1: Q3 2025 Investor Presentation
Q3 2025 Investor Presentation Element Fleet Management (TSX: EFN)
Slide 2: Contents
Overview Slide 4 Q3 2025 Results Slide 5 • Q3 Highlights Contents • YTD Highlights • Q3 Key Financial Metrics • YTD Key Financial Metrics Financial Performance Slide 10 • Net Revenue • Services Revenue • VUM & Service Attachment Rates • Net Financing Revenue • Orders and Originations • Syndication R
Slide 3: Forward-Looking Statements and Disclaimer
Forward-Looking Statements and Disclaimer This presentation contains certain forward-looking statements and forward-looking information regarding Element Fleet Management Corp. (“Element”) and its business which are based upon Element’s current expectations, estimates, projections, assumptions and b
Slide 4: Delivered Sustained Growth through Consistent Execution and Digital Advancement
Delivered Section Sustained Growth through Consistent Execution and Digital Advancement • Net Revenue increased 10% year-over-year, reflecting strong performance across all revenue streams • Adjusted operating expenses rose 9% from last year and remained consistent with last quarter, resulting in po
Slide 5: Q3 2025 Results
Q3 2025 Results
Slide 6: Q3 2025 Financial Highlights
Q3 2025 Financial Quarter-over-Quarter Year-over-Year Highlights Net Revenue $306M +6% | +10% On a year-over-year basis our Services Revenue adjusted results exhibited: $156M +3% | +6% • Solid revenue growth across our Adj. Operating Income1 components; $178M +10% | +10% • Positive operating leverag
Slide 7: Q3 YTD 2025 Financial Highlights
Q3 YTD 2025 Year-over-Year Financial Highlights Net Revenue $872M +7% Excluding the $7 million in certain Services Revenue non-recurring services revenue in $460M +6% Q1 2024 and on a year-over-year basis: Adj. Operating Income1 $490M +7% • Net revenue grew 8% Adj. Operating Margin1 • Services reven
Slide 8: Q3 Key Financial Metrics
Q3 Key Financial Metrics (US$millions, except per share) Adjusted1 Reported Key Metrics Q3 2025 QoQ YoY Q3 2025 QoQ YoY Net Financing Revenue $130 2% 12% $130 2% 12% Services Revenue $156 3% 6% $156 3% 6% Syndication Revenue $20 72% 20% $20 72% 20% Net Revenue $306 6% 10% $306 6% 10% Operating Expen
Slide 9: Q3 YTD Key Financial Metrics
Q3 YTD Key Financial Metrics (US$millions, except per share) Adjusted1 Reported Key Metrics Q3 2025 YoY Q3 2025 YoY Net Financing Revenue $369 7% $369 7% Services Revenue $460 6% $460 6% Syndication Revenue $43 17% $43 17% Net Revenue $872 7% $872 7% Operating Expenses $382 6% $412 2% Operating Inco
Slide 10: Financial Performance
Financial Performance () element
Slide 11: Key Drivers of Q3 Net Revenue Growth
Key Drivers of Q3 Net Revenue Growth • Q3 net revenue increased 10% year-over-year, Net Revenue Categories (in millions) supported by solid growth across all revenue categories 280 271 276 290 306 • Our capital-light model continues to scale, 51% representing 58% of total net revenue in Q3 Services
Slide 12: Solid Momentum in Services Revenue
Solid Momentum in Services Revenue • Q3 2025 services revenue grew by $9M or 6% year- Q3 2024 to Q3 2025 Services Revenue (in millions) over-year to $156M, mainly driven by higher utilization +6% rates across our client base 156 1 • Growth was further supported by strong performance 3 5 across all r
Slide 13: Growing Core VUM and Service Attachment Rates
Growing Core VUM and Service Attachment Rates Q3 2025 Single-Service VUM • Core VUM rose 2% year-over-year, supported by Multi-Service VUM stable inflows of new client wins and ongoing conversions of self-managed fleets 79% • Service bundling and client retention1 held steady of total VUM that at 79
Slide 14: Net Financing Revenue
Net Financing Revenue Q3 2024 to Q3 2025 NFR (in millions) • Q3 NFR increased by 12% year-over-year, primarily +12% 134 due to the growth in average net earning assets in 6 0 (4) 130 the U.S. and Mexico 0 12 • Improved funding efficiencies more than offset the 116 higher costs associated with the Au
Slide 15: Orders and Originations
Orders and Originations • Global Originations in Q3 were steady on a year- Originations (in millions) over-year basis and down 9% sequentially from the seasonally strong levels observed in Q2 U.S. and Canada Mexico Australia and New Zealand • Q3 performance is in line with typical seasonal trends 1,
Slide 16: Syndication Revenue
Syndication Revenue Syndication Revenue (in millions) • Syndication revenue increased by $3M year-over-year and $8M quarter-over-quarter, reflecting strong client 20 mix and supported by the reinstatement of 100% bonus 17 depreciation 12 12 • Syndication Yield expanded meaningfully to 3.2%, which mo
Slide 17: Adjusted Operating Expenses
Adjusted Operating Expenses Adjusted Operating Expenses (in millions) • In Q3 2025, adjusted operating expenses1 were up by 9% year-over-year and held steady to Q2. Excluding 118 128 125 128 129 Autofleet, expenses increased by 6% year-over-year • Growth was due to higher depreciation, and costs in
Slide 18: Looking Ahead
Looking Ahead
Slide 19: Low Risk and Resilient Business Model
Low Risk and Resilient Business Model The vast majority of our total debt is funding high-quality lease receivables, with historically low credit losses. These assets are safe and mission-critical for our clients in nature, making it strategically sound and stable for our use as leverage. Credit Los
Slide 20: 2025 Financial Guidance
2025 Financial Guidance • Supported by our solid year-to-date results, we expect to end full year 2025 at-or-above the high- Full-Year 2025 (US$Millions except for per share amounts) 2024 Actuals end of our Guidance1 ranges for all metrics with the Guidance exception of Originations Net Revenue $1,0
Slide 21: FX Rate Trends & Sensitivities
FX Rate Trends & Sensitivities 1 Currency YTD’25 vs. Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 FY25 Plan Pair YTD’24 USD/CAD 1.348 1.368 1.364 1.399 1.436 1.384 1.377 3% 1.355 USD/MXN 16.971 17.256 18.927 20.078 20.419 19.516 18.624 10% 20.500 USD/AUD 1.520 1.518 1.493 1.534 1.595 1.561 1.529 3% 1.4
Slide 22: Return of Capital to Shareholders
Return of Capital to Shareholders Annual Common Share Dividends Paid Our capital allocation priorities: 1. Prudently reinvesting in the business; $0.48 $0.52 +19% CAGR 2. Managing to our target debt-to-capital ratio; $0.40 $0.31 3. Paying a consistent and growing dividend (in the $0.26 range of 25-3
Slide 23: Investor Relations Contacts
Investor Relations Contacts: Sumit Malhotra SVP & Head of Financial Performance (437) 343-7723 smalhotra@elementcorp.com Crystal Zhu Manager, Investor Relations (437) 341-3789 czhu@elementcorp.com