Section1: Company Overview

Element Fleet Management Corp. (TSX: EFN) a global fleet management company, and ECN Capital, a commercial finance company. Element Fleet Management provides management services and financing for commercial vehicle and equipment fleets.

1.2 The Key Positives, Negatives, Investment Highlights, and Risks

Section2:  Financial Highlights

 2.1 Key Financial Highlights

Section 3:  Stock Recommendation Summary

3.1 Valuation Methodology

 3.2 Price Performance and Stock Recommendation

 3.3 One-Year Technical Price Chart

One-Year Technical Price Chart (as of October 17, 2022). Source: REFINITIV, Analysis: Kalkine Group

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, and currency as of October 17, 2022. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.