Slide 1: STP Acquisition Investor Presentation
Exhibit 99.2 STP Acquisition March 15, 2016 Investor Presentation
Slide 2: Forward-looking statements
Safe may This performance, “would,” Examples opportunities differ successfully income; business well Commission placed such You 2appear as Harbor press statements materially on in the fuel relationships; get “could” this such of release other Provision integrate price forward-looking on FleetCor’s a
Slide 3: Agenda
1 Transaction 36542Agenda Brazil Rationale STP Leverage Description Financials Backdrop & Overview Liquidity Implications
Slide 4: Transaction Overview
Transaction STP Valuation •Timing … 41Accretion FleetCor ~11.5x Both 2016 FX $0.10—$0.13 Transaction ofmultiples annualized •4.00:1.00 2015 Expected •signed ~9.0x Overview EBITDA, prior Overview for a2015 BRL:USD accretion close definitive calendar toEBITDA synergies adjusted in third estimate used
Slide 5: STP Automatic Overview
STP Automatic Overview Fuel 5•2015 Automatic Approximately Acceptance Provides Improves Increases Faster 4.5 Brazil-wide > 800 1,500 Description is million Highlights Brazil’s million &sales easier convenience Toll customer vehicle vehicle payment active at 99% &leading Parking transactions 240 400
Slide 6: Brazil Backdrop & Toll Road Market
1/2 size •6Source: Brazil 2nd • Announced First Currently Globalmajorof largest Toll Backdrop <10%EU, Payments toll Denetran, majorexpansion new market2x network size Market concessions of Associação vehicles ofBrazil globally benchmarks since 2010 USExisting inBrasileira potentially Vehicles are •
Slide 7: Brazil Backdrop: Environment
1Brazil 7•STP Tag FX1 GDP2 2014A 2015A 2016F 2nd January Revenue Source: Performance volume half … Backdrop, is Environment growth ==experiencing at 2016 Oanda.com, 2015: -3.0% -1.9% -3.8% growth 20growth year …cont. 13% currently low 9% “difficult quarterly negative: times” from March … but1996—201
Slide 8: Brazil Backdrop, cont.
Brazil 20yr 1•World 8ü-Attractive Fuel Food Comparative Brazil UK Mexico Historical GDP2 2016 2017 Source: Many Low No Favorable CAGR major –cards Backdrop, is Economy ex-China penetration = cards $2.99 –tax-advantaged growth a1.0% -3.0% –$2.35 US Workforce large $1.29 GDP oil —Tolls economics —Tran
Slide 9: FleetCor Strategic Rationale
FleetCor Rationale 1. 2. 9•3. An Immediate Enhanced STP EPS Brazil Innovative innovative, has accretion scale Strategic >1scale cash million fuelcard-less potential in EPS Rationale Brazil commercial accretion, fuel to support payments with vehicles our long solution broader to term cross-sell EPS w
Slide 10: STP's Historic Financials
STP STP’s Historic •’07 Revenue Fuel Synergies –Financials ’15 project prospects Net CAGR $186 Revenue w/million for Shell = 31% continued 2015 USD • EBITDA STP •revenue New Financials $93 toll&million roads earnings Drivers USD growth 2017 • Sticker &are Beyond promising distribution opportunity
Slide 11: Sources & Uses, Leverage and Liquidity Implications
PF Sources FLT —Stock Debt 1•Leverage Availability 3Debt Assumes quarters Debt PF $2.1B available FLT Uses buy-backs and &no 2.1x of $3.1B Liquidity +Leverage on at stock $450m 2.9x STP $1,800m $1,350m $850m • free Accordion buy-backs Implications atcash • Q3-161 Q3-16 STP • Total flow2 $1,050m or $