Exhibit 99.1 Corpay Reports First Quarter 2024 Financial Results Atlanta, Ga., May 8, 2024 — Corpay, Inc. (NYSE: CPAY), a leader in corporate payments, today reported financial results for its first quarter ended March 31, 2024. "Our results were in-line with our expectations. Overall organic revenue growth was 6% and our Corporate Payments segment grew 17%," said Ron Clarke, chairman and chief executive officer, Corpay, Inc. "Also, today we announced a definitive agreement to acquire Paymerang, an accounts ...

Financial Restatement and Internal Controls - FLEETCOR is restating its unaudited condensed consolidated financial statements for the quarterly periods ended March 31, 2023, June 30, 2023, and September 30, 2023, due to specific errors in the interim financial statements[13]. - The restatement involves correcting errors related to the recognition of certain cash balances as restricted cash and customer deposits, and adjustments to accounts receivable and accounts payable balances[14]. - As of December 31, 2023, management identified material weaknesses in internal control over financial reporting, affecting the effectiveness of disclosure controls and procedures[15]. - Material weaknesses in internal control over financial reporting were identified as of December 31, 2023, which could adversely affect the accuracy and timeliness of financial reporting[187]. - The company has incurred unanticipated costs related to the restatement of financial statements, which may affect investor confidence and raise reputational issues[184]. Business Segments and Solutions - FLEETCOR's Vehicle Payments segment includes solutions for fuel, tolls, and parking, providing significant control capabilities and reporting tools to combat employee misuse and fraud[26]. - The Corporate Payments segment simplifies vendor payments through accounts payable automation, virtual cards, and purchasing solutions, contributing to predictable revenue streams[25]. - FLEETCOR's Lodging Payments solutions help businesses manage lodging costs and provide traveler support, enhancing operational efficiency[25]. - The company provides a SaaS-based vehicle lifecycle management solution, processing transactions for fleet customers at over 9,000 service centers in the U.K.[35]. - The company offers AP Automation solutions that cater to both small businesses and complex global enterprises, facilitating efficient payment processing[39]. - The Cross-Border solution enables payments to international vendors in over 200 countries and 145 currencies, enhancing global operational capabilities[45]. - The company’s lodging solutions provide access to discounted hotel rates, significantly lower than those available to the general public, benefiting corporate clients[48]. - FLEETCOR's parking app allows millions of users to pay for parking quickly, integrating with other services like EV charging and maintenance[34]. Technology and Infrastructure - In 2023, the company invested approximately $370 million in capital and operating expenses to enhance its technology infrastructure[62]. - The company’s technology infrastructure includes highly-secure data centers located in multiple countries, ensuring resilience and scalability[65]. - The proprietary processing systems are tailored to meet the unique needs of individual markets, enhancing the company's competitive edge[63]. - The proprietary merchant acceptance network for Virtual Card payments allows for continuous expansion and optimization of spend capture[41]. - The company is focused on investing in data assets to deliver improved insights for customers, helping them control expenses and mitigate fraud[66]. Regulatory Compliance and Risks - The company is subject to various U.S. laws and regulations governing money transmission and payment instruments, with licensing in all required states[72]. - Compliance costs for the company's regulated subsidiaries are expected to increase in the future due to evolving laws and regulations[73]. - The company is subject to multiple privacy and information security laws, including the GDPR and various U.S. state-level data privacy laws[74]. - The company is required to comply with Payment Card Industry (PCI) data security standards for certain products accessing payment networks[85]. - The company is registered as a money services business (MSB) with FinCEN, complying with anti-money laundering regulations[81]. - The company’s subsidiary, Comdata Inc., is PCI DSS 3.2 compliant, ensuring adherence to data security standards[85]. - The company faces risks related to regulatory changes in the electronic payments industry, which may increase compliance costs and affect operating results[197]. - The company is subject to direct supervision and examination by the CFPB, which may require adjustments to activities and increase compliance costs[200]. Workforce and Corporate Culture - As of December 31, 2023, FLEETCOR employed approximately 10,500 associates across more than 21 countries, with about 4,100 based in the U.S.[94]. - Female representation in the global workforce is approximately 52%, while minorities comprise about 36% of the domestic workforce as of December 31, 2023[96]. - The employee engagement score in 2023 remained consistent with previous years, with a participation rate of approximately 70% in the global survey[101]. - FLEETCOR's benefits programs in 2023 included free online fitness classes and mental health awareness programs, focusing on employee wellness[98]. - FLEETCOR's leadership team includes Ronald F. Clarke as CEO and Chairman, and Tom Panther as CFO since May 2023[106][108]. - The company emphasizes a strong entrepreneurial culture and values such as innovation, execution, integrity, people, and collaboration[95]. - FLEETCOR's diversity, inclusion, and belonging initiatives are supported by a global diversity council and nine employee resource groups[97]. Market Conditions and Competition - Adverse macroeconomic conditions, including inflation and rising interest rates, could negatively impact transaction volumes and overall financial performance[133]. - The company faces significant competition from various providers, including major oil companies and independent fleet card providers, which could affect its market position[144]. - Changes in customer purchasing practices and economic conditions could adversely affect the demand for payment card services, impacting revenue[132]. - The company must continuously develop new technology and services to remain competitive, as failure to do so could lead to loss of customers[128]. - Increased competition may result in intensified pricing pressure and reduced profit margins[149]. Financial Performance and Revenue Sources - Revenues from late fees and finance charges represented approximately 4% of the consolidated revenue for the year ended December 31, 2023[142]. - Approximately 10% of the company's consolidated revenue for the year ended December 31, 2023, was directly influenced by the absolute price of fuel[150]. - About 5% of the consolidated revenue during the same period was derived from transactions tied to fuel price spreads[150]. - 43% of the company's revenue for the year ended December 31, 2023, was denominated in currencies other than the U.S. dollar[166]. Strategic Growth and Acquisitions - The company has been actively acquiring businesses and technologies to expand its portfolio and customer base[169]. - Future acquisitions may require substantial cash usage or equity/debt financing, potentially leading to significant dilution for existing stockholders[172]. - The company operates in over 150 countries and plans to expand into additional countries in Asia, Europe, and Latin America as part of its growth strategy[175]. Cybersecurity and Operational Risks - The risk of cyber-attacks has increased due to geopolitical conflicts, particularly between Russia and Ukraine, which may disrupt business operations and result in data compromise[125]. - The company has faced risks related to information technology and security, including potential disruptions in services due to system outages[113][114]. - Unauthorized access to customer data could result in significant reputational damage and financial liability for the company[127]. - The company faces risks related to counterparty financial institutions, which could lead to significant losses if defaults occur[163]. Environmental and Regulatory Challenges - Legislation regulating greenhouse gas emissions could negatively impact the company's operations, particularly in relation to the oil industry[210]. - Compliance with evolving laws and regulations has resulted in increased costs and potential fines, which could adversely affect the company's financial condition and operations[201].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________ FORM 10-Q _________________________________________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition pe ...

Financial Performance - Revenues for Q2 2023 reached $948.2 million, a 10.1% increase from $861.3 million in Q2 2022[8] - Net income for Q2 2023 was $239.7 million, compared to $262.2 million in Q2 2022, reflecting a decrease of 8.6%[10] - Basic earnings per share for Q2 2023 were $3.24, down from $3.42 in Q2 2022, representing a decline of 5.3%[8] - Comprehensive income for Q2 2023 was $316.5 million, significantly higher than $111.8 million in Q2 2022, reflecting a substantial increase[10] - Operating income for the first half of 2023 was $787.8 million, up from $688.2 million in the same period of 2022, indicating a growth of 14.5%[8] - Net income for the six months ended June 30, 2023, was $454,537, a decrease from $480,123 in the same period of 2022, representing a decline of approximately 14%[15] Assets and Liabilities - Total stockholders' equity increased to $3.26 billion as of June 30, 2023, up from $2.54 billion at the end of 2022, marking a growth of 28.3%[7] - Total current liabilities rose to $6.44 billion as of June 30, 2023, compared to $6.04 billion at the end of 2022, an increase of 6.6%[6] - Total liabilities and stockholders' equity reached $15.18 billion as of June 30, 2023, compared to $14.09 billion at the end of 2022, an increase of 7.7%[7] - The company’s retained earnings increased to $7.67 billion as of June 30, 2023, up from $7.21 billion at the end of 2022, a rise of 6.3%[7] - The total gross receivables increased to $3,880.7 million as of June 30, 2023, from $3,501.6 million at the end of 2022[29] - The allowance for credit losses rose to $172.1 million as of June 30, 2023, compared to $149.8 million at the end of 2022, reflecting increased customer spending and higher loss rates[31] Cash Flow and Investments - Total cash and cash equivalents, including restricted cash, at the end of the period was $2,711,235, compared to $2,356,433 at the end of June 30, 2022, indicating an increase of about 15%[15] - Net cash provided by operating activities for the six months ended June 30, 2023, was $826,680, significantly higher than $41,853 in the same period of 2022[15] - Net cash used in investing activities for the six months ended June 30, 2023, was $(201,215), compared to $(100,373) in the same period of 2022, indicating a higher cash outflow[15] - The company reported depreciation of $53,739 for the six months ended June 30, 2023, compared to $43,783 in the same period of 2022, reflecting an increase of approximately 23%[15] Revenue Segments - Revenue from contracts with customers represented approximately 86% of total consolidated revenues for the three months ended June 30, 2023[21] - Revenue from the Fleet solution was $382.6 million, accounting for 40% of total revenues, compared to $377.4 million and 44% in the prior year[22] - The Corporate Payments segment generated $247.0 million, representing 26% of total revenues, up from $189.7 million and 22% year-over-year[22] - Revenue from the United States was $534.7 million, making up 56% of total revenues, slightly up from $527.7 million and 61% in the previous year[23] Stock and Equity - The company repurchased 26,338,904 shares for an aggregate purchase price of $5.9 billion since the stock repurchase program began, leaving $1.2 billion available for future repurchases[38] - The company’s total liabilities were $210,906 thousand as of June 30, 2023, down from $224,725 thousand on December 31, 2022, indicating a decrease of approximately 6.1%[35] - The total unrecognized compensation cost related to stock-based compensation as of June 30, 2023, was $132,802 thousand[40] - The aggregate intrinsic value of stock options exercisable at June 30, 2023, was $293.7 million, with a weighted average remaining contractual term of 3.6 years[42] Legal and Regulatory Matters - The company faces a new derivative lawsuit seeking approximately $118 million in damages related to alleged unfair marketing and billing practices[61] - The company has incurred ongoing legal fees related to the FTC investigation and derivative lawsuits, with potential costs including redress and penalties[64] - The company intends to appeal the FTC's decision regarding liability, while also engaging in mediation for potential resolution[64] Foreign Exchange and Derivatives - The company reported foreign currency translation gains of $59.5 million in Q2 2023, compared to losses of $158.9 million in Q2 2022[10] - The fair value of foreign exchange derivative assets as of June 30, 2023, is $587.0 million, while derivative liabilities amount to $530.2 million[68] - The total notional amount of foreign exchange derivative customer contracts is $51,444.4 million, an increase from $40,496.4 million as of December 31, 2022[67] Acquisitions and Goodwill - The company acquired three businesses in 2023 for a total purchase price of approximately $135.1 million, enhancing geographic expansion of its products[44] - Goodwill increased to $5,473.6 million as of June 30, 2023, reflecting acquisitions and foreign currency adjustments[51] - The preliminary acquisition accounting for the acquired businesses includes $161.0 million in goodwill and $50.1 million in intangible assets[48]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________ FORM 10-Q _________________________________________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________ FORM 10-K __________________________________________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From to Commission File Number 001-35004 __ ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________ FORM 10-Q _________________________________________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition pe ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________ FORM 10-Q _________________________________________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________ FORM 10-Q _________________________________________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________ FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From to Commission File Number 001-35004 __________________________________________________________ FL ...