Element partners with Waymo to enable the future of autonomous mobility at scale

Strategic multi-year partnership through Element Mobility combines operational scale, digital orchestration, and infrastructure expertise to advance autonomous mobility

TORONTO, June 15, 2026 /PRNewswire/ - Element Fleet Management Corp. (TSX: EFN) ("Element" or the "Company"), the largest publicly traded pure-play automotive fleet manager in the world and a global leader in intelligent fleet and mobility solutions, today announced a strategic multi-year partnership with Waymo, a leader in autonomous driving technology, to support the large-scale deployment and operation of autonomous vehicle (AV) fleets.

This partnership, enabled through Element Mobility, will provide end-to-end fleet management and operational services to support Waymo's autonomous mobility operation, beginning with an initial deployment in San Diego and expanding to additional markets over time. Designed to support long-term growth, the collaboration combines Element's capital strength, global operational expertise, and intelligent mobility capabilities with Waymo's advanced AV technology and ride-hailing demand platform.

Autonomous mobility is rapidly advancing, and scaling these fleets requires more than vehicles on the road; it requires an integrated operational and digital orchestration layer, capable of managing fleet readiness, charging infrastructure, energy optimization, maintenance, compliance, and real-time operational performance across markets.

Element brings that capability through a combination of global fleet scale, intelligent mobility technology, digital orchestration, operational execution, and data-driven optimization designed to operate autonomous fleets efficiently, reliably, and at scale.

"Autonomous mobility succeeds through operational intelligence, disciplined execution, and the ability to perform reliably across markets," said David Madrigal, Executive Vice President and Chief Commercial Officer, Element Fleet Management. "This partnership combines Waymo's industry-leading autonomous technology with Element's global expertise in fleet management and operations. Together, we are enabling Waymo to scale autonomous mobility efficiently, reliably, and at a premium standard across markets."

"Scaling autonomous mobility requires partners with proven operational discipline and global fleet expertise," said Nicole Gavel, Head of Business Development and Strategic Partnerships at Waymo. "Element brings the infrastructure, execution, and scale needed to deploy and operate Waymo's autonomous fleet reliably."

Element will support the fleet through vehicle lifecycle management, charging infrastructure and energy management, maintenance coordination, and operational fleet optimization, ensuring high vehicle readiness and service reliability. Waymo plans to offer its ride-hailing service to the public through the Waymo app, while maintaining responsibility for the Waymo Driver's validation and performance.

By combining operational scale, intelligent mobility capabilities, and infrastructure expertise, Element will enable Waymo to focus on customer experience and global growth. The partnership reflects Element Mobility's strategy to lead the next era of mobility through advanced technologies, strategic partnerships, and innovative solutions.

About Element Fleet Management

Element Fleet Management (TSX: EFN) is the largest publicly traded pure play automotive fleet manager in the world and a global leader in intelligent fleet and mobility solutions. Guided by our Purpose to Move the world through intelligent mobility, we help clients manage the vehicles, data, technology, and decisions that keep their businesses moving. Fleet is our foundation, and intelligent mobility is how we lead. By combining deep fleet expertise with connected technologies, data driven intelligence, and strategic partnerships, Element helps clients lower total cost of ownership, improve uptime and driver experience, and build more resilient operations. Element manages over 1.5 million vehicles globally and leverages this scale and data to help clients optimize performance, identifying over $1.6 billion in cost savings opportunities across our clients' fleets in the past year. Through Element Mobility, we are advancing our leadership into the next era of intelligent mobility to deliver measurable business outcomes for our clients. For more information, visit: https://www.elementfleet.com.

About Waymo

Waymo is an autonomous driving technology company with the mission to be the most trusted driver. Since its start as the Google Self-Driving Car Project in 2009, Waymo has focused on building the Waymo Driver—The World's Most Experienced Driver™—to improve everyone's access to mobility while saving thousands of lives now lost to traffic crashes. Waymo's fully autonomous ride-hailing service has served over 20 million trips to riders in 10 and counting cities, including the San Francisco Bay Area, Phoenix, Los Angeles, Austin, Atlanta, Miami. The Waymo Driver has autonomously driven over 200 million miles on public roads and tens of billions in simulation across 15+ U.S. states. 

This press release includes forward-looking statements regarding Element and its business. Such statements are based on the current expectations and views of future events of Element's management. 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. 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 Element's 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 statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Such risks and uncertainties include those regarding the mobility industry, economic factors and many other factors beyond the control of Element. A discussion of the material risks and assumptions associated with this outlook can be found in Element's annual MD&A, and Annual Information Form for the year ended December 31, 2025, each of which has been filed on SEDAR and can be accessed at www.sedarplus.ca. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Element undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

SOURCE Element Fleet Management Inc.