Slide 1: Q2 2025 Investor Presentation
Q2 2025 Investor Presentation Element Fleet Management (EFN-TSX)
Slide 2: Contents
• Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Slide 4 • Q2 2025 results . . . . . . . . . . . . . . . . . . . . . . . . . . . .Slide 5 • Q2 and YTD Highlights • Financial performance . . . . . . . . . . . . . . . .. . .Slide 8 • Services revenue Contents • VUM & se
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: Resilient business model continues to deliver consistent growth and profitability
Resilient business model continues to deliver consistent growth and profitability • Record Q2 2025 results1 reaffirm the resilience of our business and our ability to deliver for our clients during periods of economic uncertainty • Solid net revenue growth of 6% year-over-year supported by increase
Slide 5: Q2 2025 Results
Q 0, OGelement Q2 2025 Results
Slide 6: Q2 2025 Financial Highlights
Quarter-over-Quarter Q2 2025 Financial Net Revenue Year-over-Year Highlights $290M +5% +6% Services Revenue Excluding foreign exchange $151M (1%) +8% translation impact, on a year- over-year basis: Adj. Operating Income1 • Net revenue grew 9% and $162M +7% +6% Services revenue was up 10% Adj. Operat
Slide 7: Q2 Key Financial Metrics
Q2 Key Financial Metrics (US$millions, except per share) Adjusted1 Reported Key Metrics Q2 2025 QoQ YoY Q2 2025 QoQ YoY Services revenue $151 (1%) 8% $151 (1%) 8% Net financing revenue $127 14% 4% $127 14% 4% Syndication revenue $12 -% (4%) $12 -% (4%) Net revenue $290 5% 6% $290 5% 6% Operating exp
Slide 8: Financial Performance
Q 0, OGelement Financial Performance
Slide 9: Key Drivers of Q2 Net Revenue Growth
Key Drivers of Q2 Net Revenue Growth Net Revenue Categories (in millions) • In Q2 2025, net revenue increased by 6% year-over- 275 280 271 276 290 100% year, supported by higher services and net financing revenue, despite a foreign currency translation Services revenue 51.0% 52.5% 59.6% 55.3% 52.2%
Slide 10: Sustained Momentum in Services Revenue
Sustained Momentum in Services Revenue • Q2 2025 services revenue increased $11 million or 8% year- Q2 2024 to Q2 2025 Services Revenue (in millions) over-year to $151 million +8% 7 151 • This growth reflects higher penetration and utilization 6 (2) rates of our offerings from new and existing clien
Slide 11: Growing Core VUM and Service Attachment Rates
Growing Core VUM and Service Attachment Rates • Core VUM rose 1% year-over-year, attributed to steady client Q2 2025 Multi-service VUM acquisition through market share gains and conversion Single-service VUM from self-managed fleets 79% • Continued increase in service bundling (79%) and high of tota
Slide 12: Net Financing Revenue (NFR)
Net Financing Revenue (NFR) Q2 2024 to Q2 2025 NFR (in millions) • Q2 2025 NFR grew by $5 million or 4% year-over- +4% 8 year, driven by the on-going benefits from our leasing and funding initiatives, despite foreign 10 (2) 131 exchange headwinds of $7 million (7) 127 (4) • Growth was partially offs
Slide 13: Orders & Originations
Orders & Originations • In Q2 2025, we originated $1.9 billion in assets, a 4% Originations (in millions) decrease compared to the previous year. When U.S. and Canada Mexico Australia and New Zealand excluding the impact of foreign currency translation, the decline in originated assets was 2% $2,000
Slide 14: Syndication Revenue
Syndication Revenue Syndication revenue (in millions) $20 17 12 • In Q2 2025, we syndicated assets totaling $537 million, a 12 12 decrease of $418 million or 44% compared to the previous $10 6 year, and a decline of $37 million or 6% from Q1 2025 $0 • Despite the lower volume, Q2 2025 syndication re
Slide 15: Adjusted Operating Expenses
Adjusted Operating Expenses Quarterly Adjusted Operating Expenses 150 122 128 128 118 125 • In Q2 2025 adjusted operating expenses1 increased 5% year-over-year, continuing the moderating 100 growth trend that was exhibited in Q1 2025 50 • Adjusted operating expenses benefited from foreign exchange t
Slide 16: Low Risk & Resilient Business Model
Low Risk & Resilient Business Model
Slide 17: Low Risk and Resilient Business
Low Risk and Resilient Business The vast majority of our total debt is funding high-quality lease receivables, with historically low credit losses. These assets are safe and mission critical in nature, making it strategically sound and stable for our use as leverage. ~20% Credit Losses as a % of fin
Slide 18: 2025 Guidance
2025 Guidance1 (US$millions, except per share amounts) 2024 Full-year 2025 • Supported by our solid H1 results we expect to end Actuals guidance Full-year 2025 at-or-above the high-end of our Guidance ranges for all metrics with the exception Net revenue $1,088 $1,160 - $1,185 of originations Adjust
Slide 19: FX Rate Trends & Sensitivities
FX Rate Trends1 & Sensitivities Q2’24 to Q2’25 Currency Pair Q2'24 Q3'24 Q4'24 Q1’25 Q2'25 FY25 Plan YoY Change USD/CAD 1.368 1.364 1.399 1.436 1.384 1% 1.355 USD/MXN 17.256 18.927 20.078 20.419 19.516 13% 20.500 USD/AUD 1.518 1.493 1.534 1.595 1.561 3% 1.477 USD/NZD 1.653 1.637 1.693 1.762 1.687 2%
Slide 20: Return of Capital to Shareholders
Return of Capital to Shareholders Annual Common Share Dividends Paid Our capital allocation priorities: +19% CAGR 0.52 • Prudently reinvesting in the business; 0.48 • Managing to our target debt-to- 0.40 capital ratio; 0.31 0.26 • Paying a consistent and growing dividend (in the range of 25-35% LTM
Slide 21: Sustainability
Q 0, OGelement Sustainability
Slide 22: Sustainability Highlights
Sustainability Highlights In May 2025, we issued our fifth annual Sustainability Report. Highlights from the 2025 Sustainability Report include: - Exceeded our Scope 1 and 2 greenhouse gas emission reduction target, with a decrease of 80% compared to our 2019 baseline - $1.9 billion spent across 4,8
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 eduncan@elementcorp.com