Element Announces Inaugural Equity Residual Transaction, Expanding Strategic Funding Capabilities

Article content

About Blackstone Credit & Insurance
Blackstone Credit & Insurance (“BXCI”) is one of the world’s leading credit investors. Our investments span the credit markets, including private investment grade, asset based lending, public investment grade and high yield, sustainable resources, infrastructure debt, collateralized loan obligations, direct lending and opportunistic credit. We seek to generate attractive risk-adjusted returns for institutional and individual investors by offering companies capital needed to strengthen and grow their businesses. BXCI is also a leading provider of investment management services for insurers, helping those companies better deliver for policyholders through our world-class capabilities in investment grade private credit.

Article content

About CPP Investments
Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that manages the Canada Pension Plan Fund in the best interests of the more than 22 million contributors and beneficiaries. In order to build diversified portfolios of assets, we make investments around the world in public equities, private equities, real estate, infrastructure and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Mumbai, New York City, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. At March 31, 2026, the Fund totalled $793.3 billion. For more information, please visit www.cppinvestments.com or follow us on LinkedIn, Instagram or on X @CPPInvestments.

Article content

Article content

Advisors
CIBC Capital Markets acted as exclusive financial advisor to Element in connection with the transaction. Mayer Brown represented BXCI.

Article content

Contacts:

Article content

Article content

Article content

CPP Investments
Frank Switzer
Managing Director, Public Affairs & Communications
[email protected]
(416) 523-8039

Article content

Forward-Looking Statements

Article content

This press release contains certain forward-looking statements and forward-looking information regarding Element, its business and the fleet industry, which are based upon Element’s current expectations, estimates, projections, assumptions and beliefs. In some cases, words such as “plan”, “expect”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “could”, “predict”, “project”, “model”, “forecast”, “will”, “potential”, “target, “by”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur are intended to identify forward-looking statements and forward-looking information. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking statements or information. Forward-looking statements and information in this news release may include, but are not limited to, statements with respect to, among other things, Element’s expectations regarding its future relationship with Blackstone and CPP, Element’s expectations regarding future financing transactions, and Element’s expectations regarding its growth and its ability to fund such growth. By their nature, these statements require us to make assumptions and are subject to inherent risks and uncertainties that may be general or specific, which give rise to the possibility that our predictions, forecasts, projections, expectations or conclusions will not prove to be accurate, that our assumptions may not be correct. External factors outside of Element’s reasonable control may impact our ability to achieve our goals and expectations, including industry dynamics, economic conditions, legislation and regulatory actions, the failure of third parties to comply with their obligations to us and our affiliates or associates, and client decisions and preferences. These and other factors may cause actual results to differ materially from the expectations expressed in the forward-looking statements and may require Element to adjust its initiatives and activities. The forward-looking statements in this news release speak only as of the date hereof and are presented for the purpose of assisting our stakeholders and others in understanding our objectives and strategic priorities and may not be appropriate for other purposes. We do not undertake to update any forward-looking statement except as required by law. In addition, a discussion of some of the material risks affecting Element and its business appears under the heading “Risk Management & Risk Factors” in Element’s Management Discussion and Analysis for the twelve-month period ended December 31, 2025 and under the heading “Risk Factors” in Element’s Annual Information Form for the year ended December 31, 2025, as well as Element’s other filings with the Canadian securities regulatory authorities, which have been filed on SEDAR+ and can be accessed on Element’s profile on www.sedarplus.ca.

Article content

Article content

Article content

Article content

Article content

Article content