WEX, Inc. (NYSE:WEX) Q2 2023 Earnings Conference Call July 27, 2023 10:00 AM ET Company Participants Steven Elder - SVP, Global IR Melissa Smith - Chairman, President & CEO Jagtar Narula - CFO Conference Call Participants Mihir Bhatia - Bank of America Merrill Lynch Darrin Peller - Wolfe Research Nikolai Cremo - Crédit Suisse Tien-Tsin Huang - JPMorgan Chase & Co. Sanjay Sakhrani - KBW Trevor Williams - Jefferies Christopher Svensson - Deutsche Bank David Koning - Robert W. Baird & Co. Dan Dolev - Mizuho Se ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 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: 001-32426 WEX Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpor ...

Table of Contents For the transition period from to Commission file number: 001-32426 WEX Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 1 Hancock St., Portland, ME 04101 (Address of principal executive offices) (Zip Code) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended ...

Financial Data and Key Metrics Changes - Revenue for Q1 2023 was $612 million, an 18% increase year-over-year, exceeding guidance by $7 million [15][29] - Adjusted net income per diluted share was $3.31, a 15% increase compared to the same quarter last year [30] - Total volume processed grew 17% year-over-year to $52.3 billion [16] Business Line Data and Key Metrics Changes - Mobility segment revenue increased 7% to $342.3 million, driven by new customer wins and renewals [31] - Corporate Payments segment revenue surged 36% to $104.8 million, with purchase volume up 58% to $18.6 billion [36] - Benefits segment revenue reached $164.9 million, a 36% increase, with SaaS account growth up 14% [38] Market Data and Key Metrics Changes - Travel-related customer volume represented approximately 71% of total spend, growing 84% compared to last year [37] - Domestic fuel prices in Q1 2023 were $3.86, slightly down from $3.90 in 2022, impacting segment revenue positively [33] Company Strategy and Development Direction - The company is focusing on cloud migration, with approximately 85% completed, enhancing scalability and innovation [12] - WEX is expanding its electric vehicle initiatives, aiming to simplify solutions for fleet managers [20][22] - The company is investing in operational improvements to capture $100 million in run rate operating efficiencies by the end of 2024 [24] Management's Comments on Operating Environment and Future Outlook - Management noted minimal impact from recent banking disruptions, with stable custodial HSA cash deposits [13][14] - The company anticipates a slow growth environment in the second half of the year, despite strong performance in Q1 [49] - Guidance for Q2 revenue is set between $613 million to $623 million, with ANI EPS expected between $3.45 and $3.55 [45] Other Important Information - The company is renaming its segments as part of rebranding initiatives, with no changes to the underlying business [4] - A significant focus on cross-selling has resulted in over 60 signed contracts during Q1 [23] Q&A Session Summary Question: Observations on business trends and guidance - Management confirmed no significant slowdown outside the over-the-road segment, with strength in North American fleet business and travel [48] Question: Factors affecting mobility segment yields - The slowdown in factoring revenue was identified as a key driver of finance fee revenue changes, with expectations of continued impact in the coming quarters [50][51] Question: Corporate Payments volume and yield expectations - Management expects normal seasonality impacts on travel and non-travel business, with a slow growth environment anticipated [55][56] Question: Impact of banking turmoil on operations - Management reassured that there was no impact on deposit funding, with a strong demand for funding sources [58][60] Question: Benefits segment growth strategy - Management highlighted strong open enrollment results and a positive outlook for the benefits segment, projecting 25% to 30% growth for the year [67]

7TM Q1 2023 Earnings April 27, 2023 Forward Looking Statements 1Q23 2 These materials include forward-looking statements including, but not limited to, statements about management's plans, goals, and guidance and assumptions with respect to future financial performance of the Company. Any statements in this earnings release that are not statements of historical facts are forward-looking statements. When used in this earnings release, the words "anticipate," "believe," "continue," "could," "estimate," "expec ...

Table of Contents For the transition period from to . Commission file number 001-32426 WEX INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ 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 E ...

WEX Inc. (NYSE:WEX) Q4 2022 Earnings Conference Call February 9, 2023 10:00 AM ET Company Participants Steve Elder - SVP, Global IR Melissa Smith - Chairman and CEO Jagtar Narula - CFO Conference Call Participants Mihir Bhatia - Bank of America Merrill Lynch Nik Cremo - Credit Suisse Ramsey El-Assal - Barclays Trevor Williams - Jefferies Bob Napoli - William Blair David Koning - Baird Andrew Jeffrey - Truist Securities Ken Suchoski - Autonomous Research James Faucette - Morgan Stanley Darrin Peller - Wolfe ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ 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 period from to Commission file number: 001-32426 WEX Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of inc ...

WEX Inc. (NYSE:WEX) Q3 2022 Earnings Conference Call October 27, 2022 10:00 AM ET Company Participants Steve Elder – Senior Vice President-Global Investor Relations Melissa Smith – Chairman and Chief Executive Officer Jagtar Narula – Chief Financial Officer Conference Call Participants Ramsey El-Assal – Barclays Nik Cremo – Credit Suisse Mihir Bhatia – Bank of America Bob Napoli – William Blair Sanjay Sakhrani – KBW Darrin Peller – Wolfe Research Sheriq Sumar – Evercore ISI Jeff Cantwell – Wells Fargo Oper ...

7 TM Q3 2022 Earnings October 27, 2022 Forward Looking Statements 3Q22 2 These materials include forward-looking statements including, but not limited to, statements about management's plan and goals. Any statements in these materials that are not statements of historical facts are forward-looking statements. When used in these materials, the words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "project", "will" and similar expressions are intended to identify f ...