Slide 1: Fourth Quarter 2025 Earnings Call
Fourth Quarter 2025 Earnings Call February 19, 2026 © Copyright 2026 World Kinect Corporation. Proprietary & Confidential. All Rights Reserved. 1
Slide 2: Disclaimer and Cautionary Note Regarding Forward-Looking Statements
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 cou
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures We believe that the non-GAAP financial measures we present (collectively, the “Non-GAAP Measures”), when considered in conjunction with our financial information prepared in accordance with GAAP, are useful to investors to further aid in evaluating our ongoing financial p
Slide 4: Executive Team
Executive Team Ira M. Birns John P. Rau Mike Tejada CEO President CFO © Copyright 2026 World Kinect Corporation. Proprietary & Confidential. All Rights Reserved. 4
Slide 5: Business Overview
Business Overview Ira M. Birns CEO © Copyright 2026 World Kinect Corporation. Proprietary & Confidential. All Rights Reserved. 5
Slide 6: Business Overview
Business Overview We enter 2026 with a strong foundation in place and clear opportunities ahead. I’m truly energized and excited by the opportunity to lead the Company into its next chapter: one grounded in accountability, aligned leadership and a commitment to consistent execution and long- term va
Slide 7: Financial Overview
Financial Overview Mike Tejada EVP & CFO © Copyright 2026 World Kinect Corporation. Proprietary & Confidential. All Rights Reserved. 7
Slide 8: Q4 and Full Year 2025 Results
Q4 and Full Year 2025 Results © Copyright 2026 World Kinect Corporation. Proprietary & Confidential. All Rights Reserved. 8
Slide 9: WKC 4Q and Full Year 2025 Financial Highlights
WKC 4Q and Full Year 2025 Financial Highlights Full Year Full Year $ millions (except EPS) Q4 2025 Q4 2024 2025 2024 Volume1 4,241 4,472 16,921 17,703 Gross Profit $235 $259 $948 $1,026 Net Income (Loss)2 ($280) ($101) ($612) $68 1. Includes gallons and gallon Diluted EPS ($5.11) ($1.77) ($10.99) $1
Slide 10: WKC Q4 and Full Year 2025 Volumes
WKC Q4 and Full Year 2025 Volumes1 Q4 2025 Full Year 2025 Gallons in MM1 Gallons in MM1 -5.2% -4.4% 4,472 17,703 4,241 16,921 1,848 7,250 1,763 7,148 1,089 4,374 1,085 4,159 1,535 1,393 6,078 5,613 Aviation Marine Q4 2024 Q4 2025 FY 2024 FY 2025 Land Note: 1. Includes gallons and gallon equivalents.
Slide 11: WKC Q4 and Full Year 2025 Gross Profit
WKC Q4 and Full Year 2025 Gross Profit Q4 2025 Full Year 2025 $MM $MM -9.1% -7.7% $258.9 $1,026.4 $235.4 $947.8 $120.3 $485.5 $129.9 $526.3 $34.2 $156.4 $34.9 $123.1 $104.4 $384.4 $70.6 $298.4 Aviation Marine Q4 2024 Q4 2025 FY 2024 FY 2025 Land © Copyright 2026 World Kinect Corporation. Proprietary
Slide 12: Aviation Segment Overview
Aviation Segment Overview © Copyright 2026 World Kinect Corporation. Proprietary & Confidential. All Rights Reserved. 12
Slide 13: Aviation | Volumes
Segment overview Aviation | Volumes Highlights Q4 2025 Full Year 2025 Gallons in MM Gallons in MM Q4 2025 vs Q4 2024 Aviation volumes decreased 5% -5% -1% year-over-year reflecting our focus to prioritize margin over volume. 1,848 7,250 7,148 1,763 Q4 2024 Q4 2025 FY 2024 FY 2025 © Copyright 2026 Wo
Slide 14: Aviation | Gross Profit
Segment overview Aviation | Gross Profit Highlights Q4 2025 Full Year 2025 $MM $MM Q4 2025 vs Q4 2024 Gross Profit increased 8% year- +8% +8% over-year, primarily attributable to contribution from the Universal Trip $129.9 $526.3 Support acquisition completed in $120.3 $485.5 November 2025. FY 2025
Slide 15: Land Segment Overview
Land Segment Overview © Copyright 2026 World Kinect Corporation. Proprietary & Confidential. All Rights Reserved. 15
Slide 16: Land | Volumes
Segment overview Land | Volumes Highlights Q4 2025 Full Year 2025 Gallons in MM1 Gallons in MM1 Q4 2025 vs Q4 2024 Volumes decreased 9%, mainly driven by the sale of our U.K. Land -9% -8% Business and exit activities as we deliberately reduced exposure to 1,535 6,078 1,393 5,613 lower-return and non
Slide 17: Land | Gross Profit
Segment overview Land | Gross Profit Highlights Q4 2025 Full Year 2025 $MM $MM Q4 2025 vs Q4 2024 Gross Profit decreased 32%, principally driven by -32% -22% unfavorable market conditions impacting certain non-core business and the near-term financial $104.4 $384.4 impact of our deliberate portfolio
Slide 18: Marine Segment Overview
Marine Segment Overview © Copyright 2026 World Kinect Corporation. Proprietary & Confidential. All Rights Reserved. 18
Slide 19: Marine | Volumes
Segment overview Marine | Volumes Highlights Q4 2025 Full Year 2025 Metric Tons in MM Metric Tons in MM FY 2025 vs FY 2024 Volumes decreased 5% year-over- 0% year, primarily due to lower -5% demand in our resale businesses 4.1 4.1 16.6 driven in part by market uncertainty 15.8 with respect to intern
Slide 20: Marine | Gross Profit
Segment overview Marine | Gross Profit Highlights Q4 2025 Full Year 2025 $MM $MM Q4 2025 vs Q4 2024 Gross Profit increased 2%, primarily -21% attributable to improved performance at certain physical locations. The $156.4 +2% business remains well positioned to benefit when market volatility $34.2 $3
Slide 21: Gross Profit Performance
Gross Profit Performance Consolidated Gross Profit $MM $259 $250 $230 $232 $235 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 © Copyright 2026 World Kinect Corporation. Proprietary & Confidential. All Rights Reserved. 21
Slide 22: Adjusted Operating Expenses
Adjusted Operating Expenses1 Consolidated Adjusted Operating Expenses $MM $197 $181 $186 $178 $173 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Note: 1. Please see Appendix for a reconciliation of this non-GAAP measure to its most directly comparable GAAP measure. © Copyright 2026 World Kinect Corporatio
Slide 23: Positioned for Full Year Adjusted EPS Growth
Positioned for Full Year Adjusted EPS1 Growth Adjusted diluted Earnings Per Share FY 2026 Guidance2 $2.20 - $1.91 $2.40 FY 2025 FY 2026 Notes: 1. Please see Appendix for a reconciliation of this non-GAAP measure to its most directly comparable GAAP measure. 2. Not a guarantee of actual future perfor
Slide 24: Strong Operating and Free Cash Flow Generation
Strong Operating and Free Cash Flow Generation Operating and Free Cash Flow $MM $293 $260 $227 $192 Operating Cash Flow Free Cash Flow2 2024 YTD 1 2025 YTD 1 Note: 1. Year-to-date amounts shown are for the twelve months ended December 31st. 2. Please see Appendix for a reconciliation of this non-GAA
Slide 25: Guidance Summary
Guidance Summary1 Date Guidance Period Guidance Metric Guidance Actual Provided Q4 2025 Consolidated Gross Profit $237 – 245MM $235M Q4 2025 Adj. Operating Expense $181 – 187MM $186M October 23, 20252 Q4 2025 Interest Expense $25 – 27MM $26M Q4 2025 Tax Rate 26% – 28% 29% FY 2025 FY 2025 Tax Rate 20
Slide 26: Q&A
Q&A © Copyright 2026 World Kinect Corporation. Proprietary & Confidential. All Rights Reserved. 26
Slide 27: Appendix
Appendix © Copyright 2026 World Kinect Corporation. Proprietary & Confidential. All Rights Reserved. 27
Slide 28: Non-GAAP Reconciliation (1/6)
Non-GAAP Reconciliation (1/6) For the Three Months Ended December 31, For the Twelve Months Ended December 31, $ in millions, except per share data 2024 2025 2024 2025 Net Earnings per Net Earnings per Net Earnings per Net Earnings per Income share Income share Income share Income share GAAP Measure
Slide 29: Non-GAAP Reconciliation (2/6)
Non-GAAP Reconciliation (2/6) $ in millions For the Three Months Ended December 31, For the Twelve Months Ended December 31, 2024 2025 2024 2025 Net income (loss) including noncontrolling interest ($101.2) ($279.5) $67.9 ($611.7) Interest expense and other financing cost, net 21.8 26.3 102.2 100.6 P
Slide 30: Non-GAAP Reconciliation (3/6)
Non-GAAP Reconciliation (3/6) $ in millions For the Three Months Ended September 30, December 31, March 31, June 30, September 30, December 31, 2024 2024 2025 2025 2025 2025 Operating Expenses GAAP Measure $195.8 $229.0 $237.0 $577.5 $186.8 $511.3 Acquisition and divestiture related expenses 0.0 0.4
Slide 31: Non-GAAP Reconciliation (4/6)
Non-GAAP Reconciliation (4/6) $ in millions For the Three Months Ended For the Twelve Months Ended December 31, December 31, 2024 2025 2024 2025 Net cash provided by (used in) operating activities $120.3 $34.2 $259.9 $292.9 Capital expenditures 17.8 21.4 68.2 65.6 Free cash flow 102.4 12.8 191.7 227
Slide 32: Non-GAAP Reconciliation (5/6)
Non-GAAP Reconciliation (5/6) $MM, Except per Share Data For the Three Months Ended December 31, 2024 For the Three Months Ended December 31, 2025 GAAP Adjustments Non-GAAP GAAP Adjustments Non-GAAP Aviation Gross Profit $120.3 $0.0 $120.3 $129.9 $0.0 $129.9 Operating Expenses 60.6 (0.4) 60.2 75.7 (
Slide 33: Non-GAAP Reconciliation (6/6)
Non-GAAP Reconciliation (6/6) $MM, Except per Share Data For the Twelve Months Ended December 31, 2024 For the Twelve Months Ended December 31, 2025 GAAP Adjustments Non-GAAP GAAP Adjustments Non-GAAP Aviation Gross Profit $485.5 $0.0 $485.5 $526.3 $0.0 $526.3 Operating Expenses 245.1 (0.5) 244.6 26
Slide 34: Investor Relations Contact
Investor Braulio Medrano Relations Senior Director FP&A and Investor Relations Contact investor@worldkinect.com © Copyright 2026 World Kinect Corporation. Proprietary & Confidential. All Rights Reserved. 34