Element-Arval Global Alliance Adds New Partner in Balkan Region, Expands Global Service to 55 countries

April 17, 2023 – Arval and Element Fleet Management, through their Element-Arval Global Alliance, today announced that SIXT Mega Rent has become a new member of the world-spanning fleet management network, the longest standing strategic alliance in the fleet management and leasing industry for the benefit of clients with global needs. To date, partners of the Alliance manage more than 4 million vehicles under management and now operate in 55 countries across five continents.

AAA-1 Rent D.O.O, Belgrade, Serbia was established 15 years ago when it became the SIXT Rent a car franchisee for Serbia and Montenegro. Subsequently, the company expanded into Bosnia and Herzegovina and developed a strong full-service leasing division operating under the brand name SIXT Mega Rent.

“We are very pleased to welcome SIXT Mega Rent to the Element-Arval Global Alliance, extending our presence in the Balkans across three countries. We trust that our global and regional clients will appreciate the same professional approach and the highest operational standards they are used to receiving from the strongest global fleet management alliance, with our newest partner,” said Bart Beckers, Arval Deputy CEO & Chief Commercial Officer.

“We are excited to have joined the Element-Arval Global Alliance,” said Olga Milicevic, General Manager of SIXT Mega Rent. “SIXT Mega Rent is a successful and recognized brand in our operating regions. As the newest member of the Alliance we look forward to expanding our global fleet management network and expertise to become the full-service market leader in Serbia, Montenegro and Bosnia and Herzegovina,” she added.

“We’ve strengthened our footprint and services in Eastern Europe with the addition of SIXT Mega Rent to the Element-Arval Global Alliance,” said David Madrigal, Chief Commercial Officer at Element Fleet Management. “Together with Arval and our partners, we’ve grown to 55 countries since starting in 1995 and we’re proud to be the one-stop-shop for the globalization and management of fleets worldwide.”

About the Element-Arval Global Alliance

Managing more than 4 million vehicles in 55 countries and delivering products and services with customization to meet local demand, the Element-Arval Global Alliance is the longest standing strategic alliance in fleet management industry and the worldwide leader in fleet management. Clients with global needs benefit from the Alliance’s extended global scale, expert advice, digital tools, global reporting, service delivery and an account team with a single point of contact to support their fleet strategies on all continents. Founded in 1995the Alliance consists of founding partners Element Fleet Management in the United States, Canada, Mexico, Australia and New Zealand and Arval in 29 countries across four continents. Other partners include Avis Fleet in Southern Africa, Johnson & Perrott in Ireland, Mareauto in Ecuador, RDA Mobility in Argentina and Uruguay, SIXT Mega Rent in Serbia, Montenegro, and Bosnia-Herzegovina, SIXT Transporent in Estonia, Latvia, and Lithuania, and Sumitomo Mitsui Auto Service in Japan, Thailand, and India. Visit www.elementarval.com.

About Element Fleet Management

Element Fleet Management (TSX: EFN) is the largest pure-play automotive fleet manager in the world, providing the full range of fleet services and solutions to a growing base of loyal, world-class clients – corporates, governments and not-for-profits – across North America, Australia and New Zealand. Element enjoys proven resilient cash flow, a significant proportion of which is returned to shareholders in the form of dividends and share buybacks; a scalable operating platform that magnifies revenue growth into earnings growth; and an evolving capital-lighter business model that enhances return on equity. Element’s services address every aspect of clients’ fleet requirements, from vehicle acquisition, maintenance, accidents and remarketing, to integrating EVs and managing the complexity of gradual fleet electrification. Clients benefit from Element’s expertise as the largest fleet solutions provider in its markets, offering unmatched economies of scale and insight used to reduce fleet operating costs and improve productivity and performance. For more information, visit www.elementfleet.com.

About Arval

Arval specialises in full service vehicle leasing and new mobility solutions, leasing close to 1.6 million vehicles at the end of December 2022. Every day, more than 8,000 Arval employees in 29 countries offer flexible solutions to ensure seamless and sustainable journeys for its customers,ranging from large international corporate groups to smaller companies and individual retail clients. Arval is a founding member of the Element-Arval Global Alliance, a world leader in the fleet management industry, with more than 4 million vehicles across 55 countries. Arval was founded in 1989 and is fully owned by BNP Paribas. Arval is positioned within the Group’s Commercial, Personal Banking & Services division. www.arval.com