Maven Car-Sharing Service Keeps Fleet Vehicles on the Road by Tapping into Element Fleet Management's Maintenance and Accident Services

TORONTO, ONTARIO and SPARKS, MARYLAND–(Marketwired – Nov. 29, 2017) – General Motors’ Maven personal mobility initiative has chosen Element Fleet Management (TSX:EFN) to provide maintenance and accident services for Maven’s fast-growing car-sharing fleet across the United States. Element will help Maven reduce vehicle costs and downtime, ensuring that vehicles are available for car-sharing as requested by Maven members.

Launched in January 2016, Maven has evolved into one of the fastest-growing mobility brands in North America. Maven is a personal mobility app that provides hassle-free, on-demand vehicle access for travel, work and everyday life. With offerings in 17 cities across North America, Maven members have covered more than 125 million miles to date.

Element will help keep Maven vehicles ready and on the road through its managed maintenance services. If a vehicle needs repairs or preventive maintenance, drivers or Maven employees can visit one of the 37,000+ authorized national and independent vehicle maintenance service providers in the Element fleet maintenance and repair network. Element helps ensure quality maintenance and repairs by analyzing work estimates, recommending the best repair facilities and negotiating prices on repairs.

Element also provides Maven accident services, from the first notice of loss to getting the vehicle back on the road.

“Maven’s growth as a dynamic mobility platform has been remarkable over the two years since we launched. Element is helping Maven ensure our members can be there for the moments that matter by ensuring our vehicles are well maintained,” said Julia Steyn, vice president, General Motors Urban Mobility and Maven. “Element is one of the world’s leading fleet managing companies, and this experience makes them an ideal partner to support our customers as we continue to grow.”

“Our analytics-driven services and hands-on fleet management strategies are designed to keep all fleets on the road, but are especially critical for the Maven brand as they work to bring cost-effective car-sharing to more cities,” said Kristi Webb, president and CEO of Element Fleet Management, North America. “Personal mobility and car sharing are changing the way people and businesses engage with their communities and serve customers – and this demands that we adapt core fleet managing practices to a changing world. We are extremely pleased to work with Maven to make this happen.”

About Element Fleet Management

Element Fleet Management (TSX:EFN) is the world’s leading fleet management company, providing world-class management services and financing for commercial vehicle and equipment fleets. Element’s suite of fleet management services spans the total fleet lifecycle, from acquisition and financing to program management and remarketing – helping customers optimize performance and improve productivity. For more information, visit www.elementfleet.com.

This release includes forward-looking statements regarding Element. Such statements are based on the current expectations and views of future events of the Company’s business. 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. The forward-looking events and circumstances discussed in this release, including, but not limited to, Element providing fleet management services to Maven, the ability to reduce vehicle costs and downtime, and the anticipated impact of developments in the personal mobility and car sharing sectors, may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting Element, including risks regarding economic and industry factors and many other factors beyond the control of the Company. 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 statements and information. These and other risks and uncertainties, as well as other information related to the Company, are discussed in the Company’s various public filings available 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 the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.