World Kinect Corporation (NYSE:WKC) Q3 2023 Earnings Conference Call October 26, 2023 5:00 PM ET Company Participants Michael Kasbar - Chairman, Chief Executive Officer Ira Birns - Executive Vice President, Chief Financial Officer Elsa Ballard - Vice President of Investor Relations Conference Call Participants Pavel Molchanov - Raymond James Ken Hoexter - Bank of America Ben Nolan - Stifel Operator Thank you for standing by, and welcome to the World Kinect Corporation Third Quarter 2023 Earnings Conference ...

corp.worldkinect.com Q3 2023 Earnings Call October 26, 2023 Copyright © 2023 World Kinect Corporation. All Rights Reserved. Disclaimer and Cautionary Note Regarding Forward-Looking Statements Certain statements, including comments about World Kinect Corporation's expectations regarding future plans, performance and acquisitions are forward-looking statements that are subject to a range of uncertainties and risks that could cause World Kinect's actual results to materially differ from the forward-looking inf ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 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, 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 001-09533 WORLD KINECT CORPORATION (Exact name of registrant as specified in its charter) Florida 9800 N.W. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 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 001-09533 WORLD KINECT CORPORATION (Exact name of registrant as specified in its charter) Florida 9800 N.W. 41st ...

World Kinect Corporation (NYSE:WKC) Q2 2023 Results Conference Call July 27, 2023 5:00 PM ET Company Participants Elsa Ballard - Vice President of Investor Relations Michael Kasbar - Chairman and Chief Executive Officer Ira Birns - Executive Vice President and Chief Financial Officer Conference Call Participants Ben Nolan - Stifel Pavel Molchanov - Raymond James Ken Hoexter - Bank of America Operator Good day and thank you for standing by. Welcome to the World Kinect Corporation Second Quarter Earnings Conf ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 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 March 31, 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 001-09533 WORLD FUEL SERVICES CORPORATION (Exact name of registrant as specified in its charter) Securities reg ...

Economic and Market Conditions - Significant inflation in the U.S. increased notably from late 2021 into 2022, driven by supply chain disruptions and higher commodity prices, which may adversely affect business results if costs rise faster than revenues [93]. - The company faces intense competition from both large multinational corporations and smaller specialized firms, which could lead to a loss of market share or reduced prices, negatively impacting revenues and profits [94]. - Increasing governmental incentives and consumer pressures to adopt alternative fuels may negatively impact pricing and demand for petroleum-based products, affecting profitability [100]. Legal and Regulatory Risks - Legal and regulatory risks related to climate change and GHG emissions could significantly impact business operations and financial results, with various proposals being adopted globally to limit emissions [97]. - The Inflation Reduction Act of 2022 imposes a fee on GHG emissions from certain facilities in the oil and natural gas sector, which could accelerate the transition away from fossil fuels and adversely affect business operations [99]. - The company is subject to extensive laws and regulations, including environmental protection and health and safety, which can result in significant costs and liabilities [112]. - Compliance with existing and future environmental laws may require substantial capital expenditures and increase operating costs, potentially reducing demand for products and services [113]. - The company is subject to various data privacy laws, including the California Consumer Privacy Act, which may lead to significant compliance costs and potential financial penalties for noncompliance [116]. - International operations expose the company to anti-corruption laws and trade control regulations, increasing the risk of substantial fines and penalties [118]. - The company has established policies to comply with laws and regulations, but violations could result in severe penalties, including asset seizures and loss of government contracts [122]. Operational Impact and Risks - The COVID-19 pandemic has impacted operations, but business activities have normalized to near pre-pandemic levels, with ongoing monitoring for future disruptions [124]. - The handling of sensitive data may be vulnerable to breaches, and changes in data privacy laws could increase operational costs or result in regulatory penalties [114]. - The evolving nature of privacy laws, such as the EU's General Data Protection Regulation, may require costly changes to IT systems to ensure compliance [115]. Financial Instruments and Derivative Transactions - The company engages in derivative transactions to manage price risks associated with energy products, exposing it to potential losses if counterparties default [126]. - As of December 31, 2022, the total notional value of commodity derivative contracts was $(154.1) million, with a fair market value of $19.6 million [218]. - The company uses forward and swap contracts to hedge foreign currency exchange risks, with no material impact expected from a hypothetical 10% change in exchange rates [219]. - The company’s derivative transactions are not always designated as hedges for accounting purposes, leading to fluctuations in earnings based on market value changes [133]. - As of December 31, 2022, the total fair value of foreign currency exchange derivative contracts was a net liability of $14.1 million, compared to a net asset of $0.4 million in 2021 [221]. Debt and Interest Rate Management - The company had $339.0 million in outstanding borrowings under its Credit Facility and a $488.4 million Term Loan as of December 31, 2022 [222]. - The interest rate swap agreement locks in a floating interest rate at 0.535% for a notional value of $300 million, with a fair value of $24.7 million as of December 31, 2022 [223]. - A fluctuation of 100 basis points in the interest rate would result in a $12.5 million change in interest expense over the next twelve months [224]. - The applicable margins for base rate loans and Eurodollar rate loans were 0.75% and 1.75%, respectively, as of December 31, 2022 [222]. - The aggregate outstanding balance of finance lease obligations was $15.4 million, with interest rates ranging from 1.0% to 5.9% [222]. Currency Positions - The company had a net long position in DKK of 410.3 million with a fair value amount of $3.8 million as of December 31, 2022 [221]. - The company reported a net short position in COP of 66,939.1 million with a fair value amount of $0.2 million [221]. - The weighted average contract price for AUD was 0.653, with a net short position of 17.9 million and a fair value amount of $(0.7) million [221]. - The company had a net short position in NOK of 1,808.7 million with a fair value amount of $(9.3) million as of December 31, 2022 [221].

WORLD FUEL SERVICES CORPORATION UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FORM 10-Q For the transition period from __________ to ___________ COMMISSION FILE NUMBER 001-09533 (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 Indicate by check mark whether the registrant: (1) has filed all ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 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, 2022 Florida 9800 N.W. 41st Street, Miami, Florida 33178 59-2459427 (Address of Principal Executive Offices) (Zip Code) (I.R.S. Employer Identification No.) Registrant's telephone number, including area code: ( 305 ) 428-8000 Securities registered pursuant to Section 12(b) of the Act OR ☐ T ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 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 March 31, 2022 Registrant's telephone number, including area code: ( 305 ) 428-8000 Securities registered pursuant to Section 12(b) of the Act OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ___________ COMMIS ...