Slide 1: Q2 2025 Earnings Release Supplement
Q2 2025 Earnings Release Supplement Refer to earnings release dated August 6, 2025 for further information
Slide 2: Safe Harbor Provision
Q2 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
Q2 2025 Agenda ^ Q2 2025 Results 2025 Guidance Deal Activity Digital Currency Strategy - Cross Border Appendix
Slide 4: Q2 2025 Results
Corpay”* [2 Q2 2025 Results
Slide 5: Our Take on the Quarter
Q2 2025 Our Take on the Quarter ^ Q2 adjusted EPS Earnings slightly ahead of expectations1, grew 13%: finished slightly • Adjusted EPS2 $5.13, up 13% YOY...up 17% YOY on constant macro basis ahead of our guide • Revenues $1.102 billion, up 13% YOY • Adjusted EBITDA2 $621 million, up 12% YOY • GAAP E
Slide 6: Revenue and Cash EPS Bridge vs Prior Year
Q2 2025 Revenue and Cash EPS Bridge vs Prior Year $110 $46 $1,102 ^ $(10) $(19) $976 2019 +13% Revenue YoY ($ in millions) 2 2Q24 Core Change Macro Acquisitions Divestiture 2Q25 $0.10 $0.09 $0.67 $5.13 $(0.17) Adjusted Net $(0.11) Income Per Share1 $4.55 +13% YoY 3 4 2Q24 Core Change Acquisitions In
Slide 7: Organic Revenue Growth
Q2 2025 Organic Revenue Growth1,2 ($ in millions) ^ VEHICLE PAYMENTS CORPORATE PAYMENTS $548 $389 $504 $331 9% 18% +19% +32% 2Q24 2Q25 2Q24 2Q25 Total LODGING PAYMENTS 11% OTHER3 $122 $120 $64 $55 (2)% 18% +9% +39% 2Q24 2Q25 2Q24 2Q25 1. Non-GAAP financial measures. See appendix for reconciliation o
Slide 8: Organic Revenue Growth and Same Store Sales Trends
Q2 2025 Organic Revenue Growth and Same Store Sales Trends1 ^ 2024 2025 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 Vehicle Payments 4% 5% 4% 8% 8% 9% Corporate Payments 17% 18% 18% 26% 19% 18% Lodging Payments (9)% (10)% (5)% 1% (1)% (2)% Other2 12% (2)% (6)% 5% (13)% 18% Total Organic Growth 6% 6% 6% 12% 9% 11%
Slide 9: Improving Retention, YoY and Sequentially
Q2 2025 Improving Retention, YoY and Sequentially* ^ 92.3% 92.1% 91.9% 92.0% 91.8% 2Q24 3Q24 4Q24 1Q25 2Q25 *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 issuer. Al
Slide 10: Balance Sheet Structured for Flexibility and Capacity
Q2 2025 Balance Sheet Structured for Flexibility and Capacity ^ Robust cash flow and opportunistic capital allocation Leverage Ratio3 (X) • Reported $621 million of adjusted EBITDA1 2.75 2.53 • Generated $366 million of free cash flow1,2 Liquidity at June 30, 2025 is ~$3.5 billion • Borrowing capaci
Slide 11: Updated 2025 Guidance
Corpay” 025, Updated 2025 Guidance
Slide 12: 2025 Guidance...2H Themes
FY 2025 2025 Guidance...2H Themes ^ Second half of 2025 sets up well for a strong finish to the year... • 2H adjusted EPS1 accelerating to $11.40, an 18% increase over 1H 2025 • Organic revenue growth in 2H of 10% ◦ Vehicle Payments organic revenue growth improving to 10% • EBITDA margin improvement
Slide 13: FY25 and 3Q25 Guidance
FY 2025 FY25 and 3Q25 Guidance ($ in millions, except per share data and %) Guidance Ranges1 ^ Guide YoY Growth Full Year 2025 Range Midpoint Print GAAP Revenues $4,405 - $4,485 $4,445 +12% Adjusted Net Income per Diluted Share2 $20.86 - $21.26 $21.06 +11% Q3 2025 GAAP Revenues $1,155 - $1,175 $1,16
Slide 14: Deal Activity
Corpay”* 3025 Deal Activity
Slide 15: Alpha Overview
FY Alpha Overview 2025 Alpha serves Corporates and Investment Funds. Investments Funds in the UK and EU account for 68% of revenue … yet they are an underserved segment globally Corporates Investment Funds Customers 1.5k middle market / enterprise 2k institutional funds Products Payments and Forward
Slide 16: Corpay Cross Border Overview
FY Corpay Cross Border Overview 2025 The Alpha deal will significantly expand our position with investment funds … and bolster our ability to sell the “multi-currency accounts” product to all our segments Corpay Cross-Border Customer Segments Segment Corporates FIs Investment Funds Digital Currency
Slide 17: Digital Currency Strategy – Stablecoins, Cryptocurrency & Blockchain
FY Digital Currency Strategy – Stablecoins, Cryptocurrency & Blockchain 2025 Corpay Cross Border has embraced digital currencies, including stablecoins, as the next evolution in cross-border finance and is participating in 3 ways. 1 2 3 “On-Ramp / Off- Blockchain Stablecoin Digitial Ramp” Fiat Partn
Slide 18: Appendix: About Non-GAAP Financial Measures
Q2 2025 Appendix About Non-GAAP Financial Measures This presentation includes certain measures described below that are non-GAAP financial measures. The Company refers to free cash flow, cash net income and adjusted net ^ income attributable to Corpay interchangeably, a non-GAAP financial measure. A
Slide 19: Reconciliation of Net Income to Adjusted Net Income
Q2 2025 Reconciliation of Net Income to Adjusted Net Income ($ in millions, except per share amounts) ^ Three Months Ended June 30, 2025 2024 Net income attributable to Corpay $284 $252 Stock based compensation 29 27 Amortization1 64 57 Loss on extinguishment of debt — — Integration and deal related
Slide 20: Reconciliation of Net Income to EBITDA
Q2 2025 Reconciliation of Net Income to EBITDA* ($ in millions) ^ Three Months Ended June 30, 2025 2024 Net income from operations $284 $252 Provision for income taxes 109 83 Interest expense, net 97 95 Other (income) expense, net (11) 4 Depreciation and amortization 91 84 EBITDA1 $571 $518 Stock-ba
Slide 21: Calculation of Organic Growth
Q2 2025 Calculation of Organic Growth* ($ in millions, except %) ^ 1Q25 ORGANIC GROWTH 2Q25 ORGANIC GROWTH 2025 2024 Pro 2025 2024 Pro Macro Adj3 forma2 % Macro Adj3 forma2 % Vehicle Payments $532 $493 8% $548 $504 9% Corporate Payments 358 302 19% 389 331 18% Lodging Payments 111 111 (1)% 120 122 (
Slide 22: Reconciliation of Organic Revenue to GAAP Revenue by Segment
^ Q2 Reconciliation of Organic Revenue to GAAP Revenue by Segment - 2025 2025 ($ in millions) Macro Adjusted1 Pro Forma2 2025 Organic Revenue Growth* 2Q25 1Q25 2Q24 1Q24 VEHICLE PAYMENTS Pro forma and macro adjusted $548 $532 $504 $493 Impact of acquisitions/dispositions — — 6 1 Impact of fuel price
Slide 23: Reconciliation of Organic Revenue to GAAP Revenue by Segment
^ Q2 Reconciliation of Organic Revenue to GAAP Revenue by Segment - 2025 2025 (continued, in millions) Macro Adjusted1 Pro Forma2 2025 Organic Revenue Growth* 2Q25 1Q25 2Q24 1Q24 OTHER3 Pro forma and macro adjusted $64 $56 $55 $64 Impact of acquisitions/dispositions — — — — Impact of fuel prices/spr
Slide 24: Reconciliation of Organic Revenue to GAAP Revenue by Segment
^ Q2 Reconciliation of Organic Revenue to GAAP Revenue by Segment - 2025 2024 ($ 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 25: Reconciliation of Organic Revenue to GAAP Revenue by Segment
^ Q2 Reconciliation of Organic Revenue to GAAP Revenue by Segment - 2025 2024 (continued, in millions) Macro Adjusted1 Pro Forma2 2024 Organic Revenue Growth* 4Q24 3Q24 2Q24 1Q24 4Q23 3Q23 2Q23 1Q23 3 OTHER Pro forma and macro adjusted $70 $66 $55 $64 $67 $71 $56 $57 Impact of acquisitions/dispositi
Slide 26: 2025 Reconciliation of Non-GAAP Guidance Measures
FY 2025 Reconciliation of Non-GAAP Guidance Measures ($ in millions, except per share amounts) 2025 GUIDANCE ^ Low* High* Net income $1,171 $1,211 Net income per diluted share $16.41 $16.81 Stock based compensation 97 97 Amortization 256 256 Other 71 71 Total pre-tax adjustments $424 $424 Income tax