Essex Lease Financial Corp. to Acquire ATB Financial’s Capital Asset Financing Division with an agreement in principle

Essex's equipment and agricultural financing services to expand across Western Canada.

ESSEX LEASE FINANCIAL CORP (“Essex”) has reached an agreement in principle to acquire the Capital Asset Financing division of the Alberta-based ATB Financial (“ATB”). Supporting Canadian businesses, this partnership will significantly expandEssex's equipment and agricultural financing services across Western Canada by creating a strong equipment finance industry leader.

“ATB has an exceptional reputation in the equipment financing space in Alberta and is known for continuously investing in its people and processes as well as its dedication to client service and operational practices, all of which is aligned with Essex's commitment to excellence,” said Ross Sten, President & CEO of Essex. “With a growing population and accelerated infrastructure and agricultural investment in Western & Central Canada improving access to global markets, Essex believes that demand for equipment financing will continue to grow, and this partnership positions us well to provide greater resources and flexibility to the Canadian entrepreneurs who we seek to support as an independent financing partner.

“For nearly four decades, Essex has delivered client-focused solutions that align with ATB Financial's core values and we believe this strategic partnership will provide ongoing expertise for our clients,” said Curtis Stange, President & CEO of ATB Financial.

The transaction is subject to finalization of certain business terms and customary closing conditions, and is expected to close in the last quarter of 2025.

Forward-Looking StatementsCertain statements contained in this news release may constitute forward looking information or forward-looking statements. All statements in this news release, other than statements of historical fact, that address events or developments concerning Essex &/or ATB (the parties) that the parties expect to occur are “forward looking information” or “forward looking statements”. Forward-looking information and forward looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “propose”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “budgeted”, “scheduled” and “forecasts”, and similar expressions and variations (including negative variations). The forward-looking information andstatements contained herein are based on the reasonable assumptions, estimates, analysis and opinions of management of the parties made in light of their experience, their interpretation of industry trends and current market conditions along with other factors the parties consider relevant and reasonable as at the date hereof. The parties cannot guarantee to stakeholders that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the parties nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. In particular, but without limiting the foregoing, this news release contains forward-looking information and statements pertaining to the transaction, transaction timelines and consumer demands for equipment financing. The parties do not undertake, and assume no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

About Essex Lease Financial Corp

Essex is a leading independent equipment finance service provider in Western & Central Canada, with assets under management post-transaction in excess of $1.5 billion dollars. Essex provides creative and flexible capital to thousands of customers across a range of sectors through a variety of products including operating and capital leases,RPOs, asset-backed lines of credit, and more. In addition, Essex has a fleet of over 400 rental trailers and other rental assets through which it provides direct support to the transportation and construction sectors,and provides further support through partnerships in insurance and mortgage financing. Essex's head office is located in Calgary, Alberta. For more information about Essex, visit the company's website at elfc.ca.

SOURCE Essex Lease Financial Corporation

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