Slide 1: 2Q Earnings Release Supplement
2Q Earnings Release Supplement 2021 Refer to earnings release dated August 4, 2021 for further information
Slide 2: 2Q Safe Harbor Provision
2Q Safe Harbor Provision 2021 This presentation contains forward-looking statements within the meaning of the federal securities laws. Statements that are not historical facts, including statements about FLEETCOR’s beliefs, assumptions, expectations and future performance, are forward-looking statem
Slide 3: Our Take on the Quarter
2Q Our Take on the Quarter 2021 Drivers of future growth all at very strong levels: Outstanding 2Q • Organic growth of 23%1 - all businesses up off the 2Q20 lows results, demonstrating • New sales bookings 191% vs. 2Q20; 106% vs. 2Q19 acceleration in our • Revenue retention at an all-time high of 93
Slide 4: Our Take on the Quarter: Free Cash Flow and M&A
2Q Our Take on the Quarter 2021 Robust cash flow and balance sheet usage Substantial free • Generated $268 million of free cash flow cash flow enables • Driving scale and extending into adjacencies with M&A accretive M&A and ◦ Closed the AFEX acquisition in Corporate Payments share buybacks ◦ Signed
Slide 5: 2Q Highlights
2Q Highlights 2021 Revenue 27% 38% 2019 Revenue Adjusted net income growth per diluted share1 23% Organic revenue growth1 93.8% Revenue weighted volume retention2 Adjusted Net Income Per Share1 $2.5 billion Available liquidity 2 bps Credit losses on billed revenue • $6.0 million of credit losses 1.
Slide 6: 2Q Bridge vs Prior Year
2Q Bridge vs Prior Year 2021 2019 Revenue (in millions) 1 Adjusted Net Income Per Share 2 1. Macro consists of approximately $19 million positive impact due to movements in foreign exchange rates, $16 million positive impact from fuel prices and $30 million negative impact from fuel spread 2. Consis
Slide 7: 2Q Results at a Glance
2Q Results at a Glance 2021 ($ in millions, except for per share data) ...Better than 2Q20 2Q20 2Q21 Y/Y 2019 Revenue $525 $667 27% GAAP Net Income $158 $196 24% GAAP Net Income per Diluted Share $1.83 $2.30 26% Adjusted Net Income1 $197 $268 36% Adjusted Net Income per Diluted Share1 $2.28 $3.15 38
Slide 8: 2Q Organic Revenue Performance
2Q Organic Revenue Performance1,2 2021 ($ in millions) FUEL CORPORATE PAYMENTS $136 $103 +19% +32% +32% +19% TOLLS LODGING $62 $45 +9% +9% +39% +39% 1. Non-GAAP financial measures; See appendix for reconciliation of non-GAAP measures to GAAP 2. Adjusted to remove impact of changes in macroeconomic e
Slide 9: 2Q Organic Revenue Performance Trends
2Q Organic Revenue Performance Trends1 2021 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 Fuel 2% (16)% (11)% (10)% (6)% 19% Corporate Payments 20% (17)% (11)% (6)% (5)% 32% Tolls 10% 3% 3% 7% 3% 9% Lodging 5% (37)% (32)% (25)% (14)% 39% Gift (12)% (26)% (19)% (3)% 2% 22% Other —% (25)% (9)% (12)% (12)% 25% Total O
Slide 10: 2Q Revenue Retention Trends
2Q Revenue Retention Trends* 2021 2019 280 bps improvement YOY *Based on volume relevant to business or product (e.g., gallons, spend, etc.) weighted by revenue; excludes European Private Label businesses, where FLEETCOR is a processor instead of issuer. Also excludes our cross border payments busin
Slide 11: 2Q Sales Performance Trends
2Q Sales Performance Trends* 2021 Sales vs. Prior Year 2019 Nearly double prior year *Calculated based on estimated annualized revenue from new sales over the same period in the prior year. FX normalized using January 2021 average FX rate. FLEETCOR | 11
Slide 12: Balance Sheet Structured for Flexibility and Capacity
2Q Balance Sheet Structured for Flexibility and Capacity 2021 Leverage Ratio (X) Available liquidity at June 30, 2021 is ~$2.5 billion • ~$1.2 billion of borrowing capacity • Unrestricted cash of $1.3 billion Leverage ratio of 2.62x, down slightly from YE20 Total debt of ~$4.1 billion, up from YE20
Slide 13: 2Q Guidance Updated
2Q Guidance Updated 2021 ($ in millions, except for per share data) Previous Updated $2,600 - $2,700 $2,740 - $2,790 GAAP Revenues 9% - 13% growth 15% - 17% growth $1,045 - $1,110 $1,085 - $1,115 Adjusted Net Income1 9% - 15% growth 13% - 16% growth $12.14 - $12.70 $12.80 - $13.00 Adjusted Net Incom
Slide 14: Acquisition of ALE Solutions extends lodging into insurance vertical
2Q FLEETCOR’s acquisition of ALE Solutions extends its lodging 2021 business into the insurance vertical FLEETCOR’s Lodging Business FLEETCOR | 14
Slide 15: On-Road Charging Costs in U.K. – Car
2Q On-Road Charging Costs in U.K. – Car 2021 Charging an EV car at U.K. public charge points currently costs approximately ~60% of fueling an internal combustion engine car … but offers significantly higher MDR’s for payment processing Internal Electric Combustion Engine (ICE) Vehicle (EV) Litre Kil
Slide 16: On-Road Charging Costs in U.K. – New Van
2Q On-Road Charging Costs in U.K. – New Van 2021 Charging an EV van at U.K. public charge points currently costs about the SAME as fueling an internal combustion engine van due to fuel efficiency variances Internal Electric Combustion Engine (ICE) Vehicle (EV) Unit of energy Litre Kilowatt-Hour (kWh
Slide 17: EV Blended Charging Costs in U.K. – New Van
2Q EV Blended Charging Costs in U.K. – New Van 2021 While charging at home / work is less expensive than charging on the road, it’s not free Based on 100 miles driven1: On Road At Home / Work % On Total % of ICE Spend Spend Spend (£ 11.76) Road kWh (£ 0.30) kWh (£ 0.162) • Adding EVs to a fleet’s mi
Slide 18: Appendix Non-GAAP to GAAP Reconciliations
Appendix Non-GAAP to GAAP Reconciliations About Non-GAAP Financial Measures This presentation includes certain measures, which are used by the Company as supplemental measures to evaluate its overall operating performance. Adjusted net income is calculated as net income, adjusted to eliminate (a) no
Slide 19: Reconciliation of Net Income to Adjusted Net Income
Reconciliation of Net Income to Adjusted Net Income* ($ in millions, except per share amounts ) Three Months Ended June 30, 2021 2020 2019 Net income $196 $158 $262 Stock based compensation 18 9 18 Amortization1 53 48 57 Investment (gain) loss — (34) — Loss on extinguishment of debt 6 — — Integratio
Slide 20: Calculation of Organic Growth
Calculation of Organic Growth* ($ in millions) 1Q21 ORGANIC GROWTH 2Q21 ORGANIC GROWTH 2021 2021 Macro 2020 Pro Macro 2020 Pro Adj3 forma2 % Adj3 forma2 % FUEL $275 $293 (6)% $298 $250 19% CORPORATE PAYMENTS 114 120 (5)% 136 103 32% TOLLS 85 83 3% 70 65 9% LODGING 59 68 (14)% 62 45 39% GIFT 43 42 2%
Slide 21: Reconciliation of Non-GAAP to GAAP Revenue by Product - 2021
Reconciliation of Non-GAAP to GAAP Revenue by Product - 2021 (in millions) 2021 Organic Revenue Growth* Macro Adjusted1 Pro Forma2 2Q21 1Q21 2Q20 1Q20 FUEL Pro forma and macro adjusted $ 298 $ 275 $ 250 $ 293 Impact of acquisitions/dispositions — — (1) (1) Impact of fuel prices/spread (14) (16) — —
Slide 22: Reconciliation of Non-GAAP to GAAP Revenue by Product - 2021
Reconciliation of Non-GAAP to GAAP Revenue by Product - 2021 (in millions) 2021 Organic Revenue Growth* Macro Adjusted1 Pro Forma2 2Q21 1Q21 2Q20 1Q20 GIFT Pro forma and macro adjusted $ 32 $ 43 $ 27 $ 42 Impact of acquisitions/dispositions — — — — Impact of fuel prices/spread — — — — Impact of fore
Slide 23: Reconciliation of Non-GAAP to GAAP Revenue by Product - 2020
Reconciliation of Non-GAAP to GAAP Revenue by Product - 2020 (in millions) 2020 Organic Revenue Growth* Macro Adjusted1 Pro Forma2 4Q20 3Q20 2Q20 1Q20 4Q19 3Q19 2Q19 1Q19 FUEL Pro forma and macro adjusted $ 270 $ 262 $ 244 $ 281 $ 299 $ 296 $ 291 $ 275 Impact of acquisitions/dispositions/customer lo
Slide 24: Reconciliation of Non-GAAP to GAAP Revenue by Product - 2020 (continued)
Reconciliation (continued, in millions) of Non-GAAP to GAAP Revenue by Product - 2020 2020 Organic Revenue Growth* Macro Adjusted1 Pro Forma2 4Q20 3Q20 2Q20 1Q20 4Q19 3Q19 2Q19 1Q19 GIFT Pro forma and macro adjusted $ 46 $ 39 $ 27 $ 42 $ 48 $ 48 $ 36 $ 48 Impact of acquisitions/dispositions — — — —
Slide 25: Reconciliation of Non-GAAP Guidance Measures
Reconciliation of Non-GAAP Guidance Measures (in millions, except per share amounts) Q3 2021 GUIDANCE Low* High* Net income $ 220 $ 235 Net income per diluted share $ 2.60 $ 2.80 Stock based compensation 18 18 Amortization of intangible assets, premium on receivables, deferred financing costs and di