Slide 1: Q3 2025 Earnings Release Supplement
Q3 2025 Earnings Release Supplement Refer to earnings release dated November 5, 2025 for further information
Slide 2: Safe Harbor Provision
Q3 2025 Safe Harbor Provision This presentation contains forward-looking statements within the meaning of the federal securities laws. Statements that are not historical facts, including statements about Corpay’s beliefs, assumptions, expectations and future performance, are forward-looking statemen
Slide 3: Agenda
Q3 2025 Agenda ^ Q3 2025 Results Q4 & 2025 Guidance 2026 Financial Preview Stablecoin Update Deal Activity Appendix
Slide 4: Q3 2025 Results
my 3 Q3 2025 Resul Corpay esults
Slide 5: Our Take on the Quarter
Q3 2025 Our Take on the Quarter ^ Q3 revenue and Earnings ahead of expectations1, grew 14%: adjusted EPS2 • Adjusted EPS2 $5.70, up 14% YOY...up 17% YOY on constant macro basis finished ahead of • Revenues $1.17 billion, up 14% YOY our guide, growing • Adjusted EBITDA2 $677 million, up 14% YOY 14% Y
Slide 6: Revenue and Cash EPS Bridge vs Prior Year
Q3 2025 Revenue and Cash EPS1 Bridge vs Prior Year $34 $1,172 ^ $115 $3 $(9) 2019 $1,029 Revenue +14% ($ in millions) YoY 2 3Q24 Core Growth Macro Acquisitions Divestiture 3Q25 $0.13 $0.07 $0.80 $(0.01) $5.70 $(0.29) Adjusted Net Income Per +14% Diluted Share1 $5.00 YoY 3 4 3Q24 Core Growth Acquisit
Slide 7: Organic Revenue Growth
Q3 2025 Organic Revenue Growth1,2 ($ in millions) ^ VEHICLE PAYMENTS CORPORATE PAYMENTS $407 $554 $504 $350 10% 17% +19% +32% 3Q24 3Q25 3Q24 3Q25 Total LODGING PAYMENTS 11% OTHER3 $134 $127 $82 $67 (5)% 23% +9% +39% 3Q24 3Q25 3Q24 3Q25 1. Non-GAAP financial measures. See appendix for reconciliation
Slide 8: Organic Revenue Growth and Same Store Sales Trends
Q3 2025 Organic Revenue Growth1 and Same Store Sales Trends 2024 2025 ^ 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 Vehicle Payments 4% 5% 4% 8% 8% 9% 10% Corporate Payments 17% 18% 18% 26% 19% 18% 17% Lodging Payments (9)% (10)% (5)% 1% (1)% (2)% (5)% Other2 12% (2)% (6)% 5% (13)% 18% 23% Total Organic Reve
Slide 9: Strong Organic Volume/Spend Growth Driving Organic Revenue Growth
Q3 2025 In 2025, Strong Organic Volume/Spend Growth is Driving Organic Revenue Growth1 in Our Two Biggest Businesses ^ Organic Growth1 1Q25 2Q25 3Q25 Revenue Volume Revenue Volume Revenue Volume Vehicle Payments 8% 6% 9% 6% 10 % 8% Corporate Payments 19 % 19 % 18 % 19 % 17 % 38 % Organic revenue gro
Slide 10: Consistent Organic Revenue Growth
FY 2025 Consistent Organic Revenue Growth1 Organic revenue growth1 10% or higher four out of five years ^ 13% 2019 12% 10% 10% 8% 2 FY21 FY22 FY23 FY24 FY25-G 1. Non-GAAP financial measures. See appendix for reconciliation of non-GAAP measures to GAAP 2. Growth rate at the midpoint of guidance for 2
Slide 11: Improving Retention, YoY and Sequentially
Q3 2025 Improving Retention, YoY and Sequentially* ^ 92.4% 92.3% 92.1% 92.0% 91.8% 3Q24 4Q24 1Q25 2Q25 3Q25 *Based on volume relevant to business or product (e.g., gallons, spend, etc.) weighted by revenue; excludes European Private Label businesses, where Corpay is a processor instead of an issuer.
Slide 12: Balance Sheet Structured for Flexibility and Capacity
Q3 2025 Balance Sheet Structured for Flexibility and Capacity Robust cash flow and opportunistic capital allocation ^ • Reported $677 million of adjusted EBITDA1 Leverage Ratio3 (X) • Generated $405 million of free cash flow1,2 2.75 • Repurchased 0.6 million shares for $192 million 2.40 Liquidity at
Slide 13: Q4 & 2025 Guidance
Corpay” 025, Q4 & 2025 Guidance
Slide 14: Q4'25 and FY25 Guidance
FY 2025 Q4'25 and FY25 Guidance ($ in millions, except per share data and %) Guidance Ranges1 ^ Guide YoY Growth Q4'25 Range Midpoint Print GAAP Revenues $1,225 - $1,245 $1,235 +19% Adjusted Net Income per Diluted Share2 $5.80 - $6.00 $5.90 +10% Full Year 2025 GAAP Revenues $4,505 - $4,525 $4,515 +1
Slide 15: 2026 Financial Preview
^ 2025 2026 Financial Preview
Slide 16: 2026 Financial Preview
FY 2026 2026 Financial Preview ^ We really like what we see... • Expected organic revenue1 growth of 9%-11% • Macro economic environment is setting up favorably ...with better FX rates and lower interest rates expected • Incremental expense rationalization resulting from AI-driven initiatives and ve
Slide 17: Stablecoin Update
Corpay”* 3025 Stablecoin Update
Slide 18: Corpay is advantaged in a stablecoin environment
^ FY Corpay is advantaged in a stablecoin environment 2025 Uniquely positioned to monetize new rail Uniquely positioned to capitalize on Pursuing stablecoin opportunity on 3 stablecoin opportunity and deliver value fronts: to customers Stablecoin Wallets: Large, existing payment flows • Enabling our
Slide 19: Deal Activity
Corpay”* 3025 Deal Activity
Slide 20: Corpay Closes Acquisition of Alpha on October 31, 2025
FY Corpay Closes Acquisition of Alpha on October 31, 2025 2025 Alpha Acquisition High Performing Core Business + Strong Prospects § ’21-24 total revenue CAGR of ~42%, highly profitable § Strong prospects: more geographies, ramping sales, recovering M&A Increases Corporate Payments Mix § 2026 Corpora
Slide 21: Corpay Closes Investment in AvidXchange on October 15, 2025
^ FY Corpay Closes Investment in AvidXchange on October 15, 2025 2025 Resulting in ~35% Ownership ...a lower middle market leader in real estate / HOA AP automation AvidXchange Investment Attractive Core Business 24% ’20-24 revenue CAGR, profitable, high client retention, low working capital, zero c
Slide 22: Appendix: About Non-GAAP Financial Measures
Q3 2025 Appendix About Non-GAAP Financial Measures This presentation includes certain measures described below that are non-GAAP financial measures. The Company refers to free cash flow, cash net income and adjusted net ^ income attributable to Corpay interchangeably, a non-GAAP financial measure. A
Slide 23: Reconciliation of Net Income to Adjusted Net Income
Q3 2025 Reconciliation of Net Income to Adjusted Net Income ($ in millions, except per share amounts) ^ Three Months Ended September 30, 2025 2024 Net income attributable to Corpay $278 $276 Stock based compensation 28 29 Amortization1 71 61 Loss on extinguishment of debt — 5 Integration and deal re
Slide 24: Reconciliation of Net Income to EBITDA
Q3 2025 Reconciliation of Net Income to EBITDA* ($ in millions) ^ Three Months Ended September 30, 2025 2024 Net income from operations $278 $276 Provision for income taxes 143 82 Interest expense, net 100 104 Other expense, net 1 — Depreciation and amortization 93 90 Loss on extinguishment of debt
Slide 25: Calculation of Organic Revenue Growth
Q3 2025 Calculation of Organic Revenue Growth* ($ in millions, except %) ^ 1Q25 ORGANIC GROWTH 2Q25 ORGANIC GROWTH 3Q25 ORGANIC GROWTH 2025 2024 Pro 2025 2024 Pro 2025 2024 Pro Macro Adj3 forma2 % Macro Adj3 forma2 % Macro Adj3 forma2 % Vehicle Payments $532 $493 8% $548 $504 9% $554 $504 10% Corpor
Slide 26: Reconciliation of Organic Revenue to GAAP Revenue by Segment - 2025
^ Q3 Reconciliation of Organic Revenue to GAAP Revenue 2025 by Segment - 2025 ($ in millions) Macro Adjusted1 Pro Forma2 2025 Organic Revenue Growth* 3Q25 2Q25 1Q25 3Q24 2Q24 1Q24 VEHICLE PAYMENTS Pro forma and macro adjusted $554 $548 $532 $504 $504 $493 Impact of acquisitions/dispositions — — — 3
Slide 27: Reconciliation of Organic Revenue to GAAP Revenue by Segment - 2025 (continued)
^ Q3 Reconciliation of Organic Revenue to GAAP Revenue 2025 by Segment - 2025 (continued, in millions) Macro Adjusted1 Pro Forma2 2025 Organic Revenue Growth* 3Q25 2Q25 1Q25 3Q24 2Q24 1Q24 OTHER3 Pro forma and macro adjusted $82 $64 $56 $67 $55 $64 Impact of acquisitions/dispositions — — — — — — Imp
Slide 28: Reconciliation of Organic Revenue to GAAP Revenue by Segment - 2024
^ Q3 Reconciliation of Organic Revenue to GAAP Revenue 2025 by Segment - 2024 ($ in millions) Macro Adjusted1 Pro Forma2 2024 Organic Revenue Growth* 4Q24 3Q24 2Q24 1Q24 4Q23 3Q23 2Q23 1Q23 VEHICLE PAYMENTS Pro forma and macro adjusted $543 $522 $518 $492 $500 $501 $492 $475 Impact of acquisitions/d
Slide 29: Reconciliation of Organic Revenue to GAAP Revenue by Segment - 2024 (continued)
^ Q3 Reconciliation of Organic Revenue to GAAP Revenue 2025 by Segment - 2024 (continued, in millions) Macro Adjusted1 Pro Forma2 2024 Organic Revenue Growth* 4Q24 3Q24 2Q24 1Q24 4Q23 3Q23 2Q23 1Q23 OTHER3 Pro forma and macro adjusted $70 $66 $55 $64 $67 $71 $56 $57 Impact of acquisitions/dispositio
Slide 30: Reconciliation of Non-GAAP Guidance Measures
FY 2025 Reconciliation of Non-GAAP Guidance Measures ($ in millions, except per share amounts) 2025 GUIDANCE ^ Low* High* Net income $ 1,130 $ 1,150 Net income per diluted share $ 15.88 $ 16.08 Stock based compensation 105 105 Amortization 265 265 Other 88 88 Total pre-tax adjustments $ 458 $ 458 In