Element Announces Renewal of Normal Course Issuer Bid

Core Viewpoint - Element Fleet Management Corp. has received approval from the Toronto Stock Exchange to renew its normal course issuer bid (NCIB) for repurchasing its common shares as part of its capital return strategy [2][3]. Group 1: NCIB Details - The approved NCIB allows the company to purchase up to 39,930,568 common shares, which is approximately 10% of the public float, from November 20, 2025, to November 19, 2026, or until the purchases are completed [3]. - The average daily trading volume of the common shares was 586,717, limiting daily purchases under the NCIB to 146,679 shares, excluding block purchases [4]. - The company plans to fund the NCIB using existing cash resources, and any repurchased shares will be cancelled [5]. Group 2: Previous NCIB Performance - Under the current NCIB that started on November 20, 2024, the company has repurchased 4,806,957 common shares at an average price of CAD 31.32 per share as of November 10, 2025 [6]. Group 3: Automatic Securities Purchase Plan (ASPP) - The company will implement an automatic securities purchase plan (ASPP) with an independent broker to facilitate share repurchases during blackout periods [8]. - The ASPP will allow the broker to purchase shares at times when the company cannot, based on parameters set by the company prior to the blackout period [8]. - The ASPP will terminate when the purchase limit is reached, the NCIB is completed, or the company decides to terminate it [9]. Group 4: Company Overview - Element Fleet Management is the largest publicly traded pure-play automotive fleet manager globally, providing comprehensive fleet management services across various regions [10].