INVESTOR PRESENTATION APRIL 2015 elementcorp.com Forward Looking Statements

Certain informaon in this presentaon is forward-looking and related to ancipated financial performance, events and strategies. When used in this context, words such as “will”, “ancipate”, “believe”, “plan”, “intend”, “target” and “expect” or similar words suggest future outcomes. Forward-looking statements relate to, among other things, Element Financial Corporaon’s (“Element”) objecves and strategy; future cash flows, financial condion, operang performance, financial raos, projected asset base and capital expenditures; Element’s ancipated dividend policy; ancipated cash needs, capital requirements and need for and cost of addional financing; future assets; demand for services; Element’s compeve posion; and ancipated trends and challenges in Element’s business and the markets in which it operates.

The forward-looking informaon and statements contained in this presentaon reflect several material factors and expectaons and assumpons of Element including, without limitaon: that Element will conduct its operaons in a manner consistent with its expectaons and, where applicable, consistent with past pracce; the general connuance of current or, where applicable, assumed industry condions; the connuance of exisng (and in certain circumstances, the implementaon of proposed) tax and regulatory regimes; certain cost assumpons; the connued availability of adequate debt and/or equity financing and cash flow to fund its capital and operang requirements as needed; and the extent of its liabilies. Element believes the material factors, expectaons and assumpons reflected in the forward-looking informaon and statements are reasonable but no assurance can be given that these factors, expectaons and assumpons will prove to be correct.

By their nature, such forward-looking informaon and statements are subject to significant risks and uncertaines, which could cause the actual results and experience to be materially different than the ancipated results. Such risks and uncertaines include, but are not limited to, operang performance, regulatory and government decisions, compeve pressures and the ability to retain major customers, rapid technological changes, availability and cost of financing, availability of labour and management resources and the performance of partners, contractors and suppliers.

Readers are cauoned not to place undue reliance on forward-looking statements as actual results could differ materially from the plans, expectaons, esmates or intenons expressed in the forward-looking statements. Except as required by law, Element disclaims any intenon and assumes no obligaon to update any forward-looking statement, whether as a result of new informaon, future events or otherwise.

2 elementcorp.com Corporate Governance – Board Changes

William Lova Richard Venn The Hon. Brian Tobin FCA B. Comm., MBA P.C., O.C Chairman Vice-Chairman Director

elementcorp.com Element at a Glance

$11.3 billion $4.0 billion EFN 1,700+ total assets market capitalizaon TSX Composite index Employees member

Offices across North America • Toronto (Corporate) • Montreal (Aviaon) • Mississauga (Fleet, Commercial & Vendor) • Philadelphia, PA (Commercial & Vendor) • Balmore, MD (Fleet Head Office) • Stamford, CT (Structured Finance) • Chicago (Rail)

4 elementcorp.com Investment Highlights

• Proven Asset Quality Element is delivering quality asset growth • Fee Income Growth from four proven business vercals Fee income is enhancing money-over-money returns • Growing US Economy Growth is geared to US commercial, from finance assets industrial, transportaon and • Industry Consolidaon manufacturing sectors Industry consolidaon connues to surface quality acquision • Leverage Drives ROE Increased leverage with lower funding opportunies & operang costs are driving rising ROE • Experienced Leadership Management is very • Diversified Quality Revenue Annuity-like cash flows from experienced and personally invested in the Company credit-worthy customers across diversified industries

5 elementcorp.com What We Do

We work closely with each of our funding partners in the life insurance and banking industries to align their investment objecves with our lending criteria and originaon processes across each of our four business vercals

WHAT OUR FUNDING PARTNERS WANT • WHAT WE DELIVER

• Validang investments • Secured lending for annuies, structured • 48 to 60 month amorzing commercial selements and guaranteed Duraon assets savings products • 40+ year rail assets (to esmated residual • Alternave asset class not value) correlated to commercial Currency or residenal real estate • Forward commitments • Capital friendly • Manufacturer remarkeng support Interest Rate • High barriers to entry • Service differenaon

6 elementcorp.com Business Vercals

COMMERCIAL & FLEET MANAGEMENT RAIL FINANCE VENDOR FINANCE AVIATION FINANCE EFN

Return on Average Earning Assets (quarter ended December 31, 2014)

CONSOLIDATED Porolio Allocaon 57.8% 11.8% 19.5% 10.9% 100% Financial Revenue 8.4% 7.6% 7.9% 9.0% 8.2% Net Interest Margin 6.7% 4.3% 4.7% 6.4% 5.9% Operang Expenses 3.5% 1.0% 2.0% 0.8% 2.5% Net Income Yield Pre-Tax 3.2% 3.3% 2.7% 5.6% 3.4% Advance Rate 96.0% 75.0% 85.0% 65.0% 88.0%

7 elementcorp.com Proven Track Record of Organic Growth

Organic Originaons

C$,millions Commercial & Vendor Fleet Management Aviaon Railcar

$1,750

$1,500

$1,250

$1,000

$750

$500

$250

$0 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1-2014 Q2-2014 Q3-2014 Q4-2014

elementcorp.com Porolio Diversificaon Migates Sector Risk

Earning Assets by Business Vertical As at December 31, 2014 Commercial & Vendor Finance 3% 4% 0

9% Trucks & Trailers Construcon Equipment 40% Healthcare Equipment Mfg & Ind Equipment 15% Office Equipment Technology

9% Other Equipment 20% Commercial & Vendor 19% Fleet 1% Management

3% 0% 58% 3% Rail Finance 3% Aviaon 5% 11% Petroleum Crude* Mining & Minerals 34% 9% Industrial Gas Agriculture Chemical Renewable Fuels 11% Coal Petrochemical Rail Automove Refined Petroleum 12% 13% 18% Plascs

* Petroleum industry represents < 4% of earning assets

9 elementcorp.com North American Porolio Diversificaon

2014 Originaons by Region Finance Receivables Operang Leases by Region by Region

2 CAD 8.9% 1.8 80% 1.6 CAD 1.4 72% 39.2% 1.2 70% US

Millions 69% 59.6% 1 60% US 0.8 89.5% 0.6 0.4 0.2 31% 30% 40% 28% 20% 0 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014

US Canada

10 elementcorp.com Porolio Quality

Contractual Delinquencies Contractual Delinquencies As a % of Finance Receivables (September 30, 2014) As a % of Finance Receivables (December 31, 2014)

0.35% 0.33%

99.6% 99.7%

Current Past Due Current Past Due

11 elementcorp.com Deep & Diverse Funding Sources

• Strong lending relaonships $10B used to secure borrowing $12 $9.9B 3.72X 4 3.47X commitments to support 3.5 growth $10 3 • As at Q4 2014, $8B of $8 matched funding from 2.5 19 capital suppliers and $6 2 BILLIONS US ABS markets 1.5 $4 • Senior Line / warehousing of 1 $1.95B $2 0.5 • Converble debentures of $345M $- 0 • $2.6B of available capacity from forward commitments Unsecured Converble Debt Commied Funding Facilies at the end of Q4 2014 Warehouse Facilies Senior Facilies Cash & Equivalents Tangible Leverage • $10B of aggregate capacity

elementcorp.com 2015 Outlook

13 elementcorp.com Fee Income Revenues Growing

2014 (Pro Forma) 2015

Fleet Management • 47.5% fee / 52.5% finance • 50% fee / 50% finance1 • Fuel, maintenance, data • Enhance services • + 3% OPEX • New service offerings: Tolling, violaons processing, telemacs • ~3% OPEX1

Structured Finance Unit • N/A • Managed & advisory funds for (3rd Party Funds) investors • Transportaon assets (Aviaon/Rail) • EFN pari passu <20% • $10M to $200M transacon size • Fund size - $500M to $2B • Minimal OPEX <0.5% • Placement, structuring & management fees ~$20 million per annum

1 Note: Consolidated fleet management esmates

14 elementcorp.com Balance Sheet Outlook

Increase Leverage and Lower COF

• Increased senior bank line December 31, 2015 (esmated) • Exit 2015 with tangible Finance Assets and Operang Leases $15.1B leverage at ~4.6:1 Other Assets $1.8B • Secure addional IG rang Total $16.9B

• Diversify funding with access to rated MTN market Debt $13.4B • Bring overall average cost Equity $3.5B of funds down by 10 to 15 Leverage 3.69 : 1 basis points Tangible Leverage 4.55 : 1

15 elementcorp.com Organic Originaons

FLEET MANAGEMENT RAIL FINANCE COMMERCIAL & VENDOR FINANCE AVIATION FINANCE

$2.5B $2.60B Pro Forma 2015 E $1.60B 2014 $1.45B $1.30B $1.00B $1.00B 2014 2015 E $0.80B 2015 E 2014 2015 E 2014

16 elementcorp.com 2015 Outlook

Originaon Distribuon and Seasonality(1)

~30%

~25% ~25% 25% ~20%

75%

US Canada Q1 Q2 Q3 Q4

(1) Timing the closing of large transacons may cause actual originaons volumes to vary + or – 5% from quarter to quarter.

17 elementcorp.com 2015 Outlook

Earnings(1)

0.45

0.38

$1.05 Operang EPS 0.32 0.33 $1.44 Pre-Tax Operang EPS 0.29 0.28 0.23 0.21

Operang EPS Pre-Tax EPS

Q1 Q2 Q3 Q4

(1) Non-diluted per share – computed under IFRS

18 elementcorp.com Appendix - Fleet Management

elementcorp.com Fleet Integraon Summary

• Senior leadership team in place – corporate support enhanced • Canadian office locaons and contact centers consolidated • One IT plaorm for North America online with Global connecvity • Chesapeake/FLRT funding plaorms expanded and efficiencies being realized $25 million of annual cost synergies realized − Cost of funds reducon: $5.0M − Operang synergies: $12.0M − Corporate cost allocaons: $8.0M • Call centers consolidated and real me redundancy ‒ 40,000 calls per weeks ‒ 180 technicians ‒ 4 centers

Poised for Growth and Return Enhancement

20 elementcorp.com How Fleet Management Fits

• Stable customer base with high retenon rates and strong credit profile • Very low credit losses with readily saleable collateral with predictable values • Efficient capital structure with high advance rates • Disciplined competors • High barriers to entry • Excellent pipeline visibility with stable and growing “annuity like” cash flows and returns • Expandable sources of high margin fee income provide earnings and increased customer penetraon • Proven cross-selling wins and opportunies • Plaorm built to realize consolidaon opportunies

21 elementcorp.com Element Fleet Management’s Key Strengths

• Combinaon of fleet financing capabilies and exceponal consulng offering • Robust asset acquision, management and transacon processing technology • Compelling value proposion to reduce total “cost of ownership” • Extensive North American managed supplier network • Significant OEM purchasing power, scale, and leverage • Industry-leading benchmarking data set for customer consulng and porolio management • Deep domain experse of staff and management team • Proven performance through economic cycles • Service business drives profit/lease business creates “sckiness” especially when combined with lease finance offering

22 elementcorp.com Lease Revenue + Fee Revenue

• Lease revenues add “sckiness” due to lease term • Service revenues add “sckiness” due to value created from consultaon and FEE REVENUE ACCIDENT, FUEL, demonstrated savings LICENSING, REMARKETING, MAINTENANCE & OTHER • Legacy PHH Fleet revenue fee vs. finance mix is balanced: Element Every 1% increase in Legacy service porolio less service fee mix penetrated represents ~$800K annual revenue • Newer service offerings include Telemacs, Tolling, and Violaons processing

elementcorp.com Fleet Management Growth Strategy

Tuck-in acquisions New customer acquision Porolio purchases Enhance exisng customer relaonships and cross-sell New North American supplier programs Leverage North American capabilies and opportunies Cross-vercal sourcing Create supplier efficiencies

Strategic Growth Organic Growth

24 elementcorp.com Appendix – Growth Drivers

elementcorp.com Growth Drivers

Commercial & Vendor Finance US Originaons

$259

225.0 213.0

160.0

113.0 94.0

64.0

34.0

C $millions Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014

26 elementcorp.com Growth Drivers

Equipment Investment Annual Growth Forecast

30.00% 10 Year Average 2015 Forecast High 2015 Forecast Low

25.00% 25% 22% 20.00% 18% 18% 16% 15.00% 14% 12% 12% 10.00% 10% 8% 8% 8% 6% 6% 5.00% 5% 5% 4% 4% 3% 3% 2% 0.00% -2% -3% -5.00% -8% -10.00% Agricultural Mining & Soware Computers Materials Medical Construcon Railroad Ships & Boats Other Trucks Aircra Machinery Oilfield Handling Equipment Machinery Equipment Industrial Equipment Equipment Equipment

Source: Equipment Leasing & Finance Foundaon - 2015 U.S. Economic Outlook

27 elementcorp.com Growth Drivers

Industrial Equipment – Average Age Aircraft Equipment – Average Age

8.3 7.8 8.2 7.6 8.1 7.4 8 7.9 7.2 7.8 7 7.7 6.8 7.6 6.6 7.5 7.4 6.4 7.3 6.2 2005 2006 2007 2008 2009 2010 2011 2012 2005 2006 2007 2008 2009 2010 2011 2012

Transportation Equipment – Average Age Info Processing Equipment – Average Age

5.4 5.6 5.2 5.4 5 4.8 5.2 4.6 5 4.4 4.2 4.8 4 2005 2006 2007 2008 2009 2010 2011 2012 4.6 2005 2006 2007 2008 2009 2010 2011 2012

Source: US Bureau of Economic Analysis

28 elementcorp.com Increased Leverage & ROA Drives ROE

Annual Return on Average Assets

2.3% 2.5% 2.75% Leverage

3:1 9.2% 10.0% 11.0%

4:1 11.5% 12.5% 13.8%

5:1 13.8% 15.0% 16.5%

6:1 16.1% 17.5% 19.3%

29 elementcorp.com Thank You

30 elementcorp.com