Amounts in USD unless otherwise noted TORONTO, July 22, 2020 (GLOBE NEWSWIRE) — Element Fleet Management Corp. (TSX: EFN) ("Element" or the "Company"), the largest pure commercial vehicle fleet manager in the world today announced the closing of $750 million in aggregate principal amount of commercial vehicle fleet lease asset-backed term notes (the "Notes"). Four classes of Notes were issued: $594 million of fixed and $100 million of floating rate Class A; $21 million of fixed rate Class B; and $17.5 million each of fixed rate Classes C and D. The Notes were up to 11 times oversubscribed, with broad investor participation: 32 unique investors received Class A allocations, which is a 129% increase from the number of investors in Element's last Chesapeake term issuance. The level of demand evidences the Company's ready access to cost-efficient capital from a diversity of sources.