Element Fleet Management Corp. announced that none of its outstanding Cumulative 5-Year Rate Reset Preferred Shares, Series C (the "Series C shares") will be converted into Cumulative Floating Rate Preferred Shares, Series D (the "Series D shares") on June 30, 2019. During the conversion notice period, which commenced on May 31, 2019 and ended at 5:00 p.m. on June 17, 2019, 145,926 Series C shares were tendered for conversion into Series D shares. In accordance with Section 6.03(a)(iii) of the rights, privileges, restrictions and conditions attaching to the Series C shares, as provided in the Corporation’s restated articles of incorporation dated October 4, 2016, since there would be outstanding on June 30, 2019 less than 500,000 Series D shares, after having taken into account all Series C shares tendered for conversion into Series D shares, holders of Series C shares who elected to tender their shares for conversion will not have their Series C shares converted into Series D shares on June 30, 2019.