Slide 1: First Quarter 2026 Earnings Call
WORLD KINECT FIRST QUARTER 2026 EARNINGS CALL APRIL 23, 2026
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 Ira M. Birns TEAM CEO John P. Rau President Mike Tejada EVP & CFO © Copyright 2026 World Kinect Corporation. Proprietary & Confidential. All Rights Reserved. 4
Slide 5: Business Overview
BUSINESS OVERVIEW “” We delivered a strong start to the year, .” reflecting the strength of our team and ability to execute in a volatile market environment. By simplifying the portfolio and sharpening our focus on the core, we’re beginning to deliver clearer, more consistent results and improving r
Slide 6: Financial Overview
FINANCIAL OVERVIEW Mike Tejada EVP & CFO © Copyright 2026 World Kinect Corporation. Proprietary & Confidential. All Rights Reserved. 6
Slide 7: Consolidated 1Q 2026 Financial Highlights
CONSOLIDATED 1Q 2026 FINANCIAL HIGHLIGHTS $ MILLIONS (EXCEPT EPS) 1Q 2026 1Q 2025 VOLUME 1 4,002 4,177 GROSS PROFIT $271 $230 ADJ. GROSS PROFIT 3 $254 $230 NET INCOME (LOSS) 2 $26 ($21) DILUTED EPS $0.50 ($0.37) ADJ. NET INCOME 3 $39 $27 ADJ. DILUTED EPS 3 $0.75 $0.48 ADJ. EBITDA 3 $94 $80 OPERATING
Slide 8: Consolidated 1Q 2026 Financial Highlights
CONSOLIDATED Volumes1 Adjusted Gross Profit2 1Q 2026 MM $MM FINANCIAL -6.2% +10.2% 4,177 HIGHLIGHTS 3,918 $253.8 $230.4 1,700 1,623 $138.2 $115.7 982 1,022 $35.7 $66.4 1,494 1,273 $79.0 $49.2 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Aviation 1. Includes gallons and gallon equivalents. 1Q26 Excludes volume re
Slide 9: Marine Q1 2026
Q1 2026 MARINE Volumes Gross Profit Metric Tons in MM $MM +4% +86% Q1 2026 vs Q1 2025 3.9 $66.4 First quarter 2026 gross profit was $66 3.7 million, an increase of 86%, primarily driven by higher bunker fuel prices, elevated price volatility, and strong execution supported by disciplined risk manage
Slide 10: Aviation Q1 2026
Q1 2026 Volumes Gross Profit AVIATION Gallons in MM $MM -5% +20% Q1 2026 vs Q1 2025 1,700 C $138.2 1,623 First quarter 2026 gross profit was $138 million, an increase of 20% which is $115.7 primarily attributable to Universal Trip Support Services “TSS” acquired in the fourth quarter of 2025 and inc
Slide 11: Land Q1 2026
Q1 2026 LAND Volumes1 Adjusted Gross Profit Gallons in MM $MM -15% -38% Q1 2026 vs Q1 2025 1,494 $79.0 First quarter 2026 adjusted gross profit was 1,273 $49 million, an expected decrease of 38%, reflecting the impact of the portfolio actions and exits we announced last quarter and $49.2 unfavorable
Slide 12: Adjusted Operating Expenses
ADJUSTED Consolidated Adjusted Operating Expenses OPERATING ($MM) EXPENSES1 $186 $178 $181 $181 Quarter highlights $173 First quarter 2026 adjusted operating expenses were $181 million, an increase of 2%, which reflects the inclusion of the Universal TSS business as well as higher variable compensat
Slide 13: Raising Fiscal Year 2026 Adjusted EPS Guidance
RAISING FISCAL YEAR 2026 Adjusted Diluted Earnings ADJUSTED EPS1 Per Share GUIDANCE $2.65 - $2.85 $2.20 - $2.40 $1.91 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 performance. Actual performance
Slide 14: Disciplined Capital Allocation
DISCIPLINED Capital Returned to Shareholders CAPITAL $MM ALLOCATION $138.5 $126.3 $38.5 $41.3 $85.7 $10.7 $100.0 $85.0 $75.0 Dividends FY 2024 FY 2025 YTD 2026 Share Repurchases © Copyright 2026 World Kinect Corporation. Proprietary & Confidential. All Rights Reserved. 1414
Slide 15: Q&A
Q&A © Copyright 2026 World Kinect Corporation. Proprietary & Confidential. All Rights Reserved.
Slide 16: Appendix
APPENDIX © Copyright 2026 World Kinect Corporation. Proprietary & Confidential. All Rights Reserved.
Slide 17: Non-GAAP Reconciliation (1/7)
NON-GAAP RECONCILIATION (1/7) For the Three Months Ended March 31, $ in millions, except per share data 2025 2026 Net Income Diluted Earnings Net Income Diluted Earnings (Loss) per share 1 (Loss) per share 1 GAAP Measure ($21.1) ($0.37) $26.2 $0.50 Acquisition and divestiture related expenses - - 0.
Slide 18: Non-GAAP Reconciliation (2/7)
NON-GAAP RECONCILIATION (2/7) For the Twelve Months Ended December 31, $ in millions, except per share data 2025 Net Income Diluted Earnings per (Loss) share 1 GAAP Measure ($614.4) ($10.99) Impact of adjustments to weighted average - 0.07 diluted shares outstanding1 Acquisition and divestiture rela
Slide 19: Non-GAAP Reconciliation (3/7)
NON-GAAP RECONCILIATION (3/7) $ in millions For the Three Months Ended March 31, For 2025 2026 Net income (loss) including noncontrolling interest ($21.3) $25.6 Interest expense and other financing cost, net 22.9 26.3 Provision (benefit) for income taxes (6.8) 6.6 Depreciation and amortization 25.6
Slide 20: Non-GAAP Reconciliation (4/7)
NON-GAAP RECONCILIATION (4/7) $ in millions For the Three Months Ended March 31, June 30, September 30, December 31, March 31, 2025 2025 2025 2025 2026 Operating Expenses GAAP Measure $237.0 $577.5 $186.8 $511.3 $214.9 Acquisition and divestiture related expenses - - (0.0) (0.8) (0.2) Non-core dives
Slide 21: Non-GAAP Reconciliation (5/7)
NON-GAAP RECONCILIATION (5/7) $ in millions For the Three Months Ended March 31, 2025 2026 Gross Profit GAAP Measures $230.4 $271.2 Non-core divestitures and business exits 1 - (17.4) Gross Profit Adjusted Non-GAAP Measures 230.4 253.8 1. Adjustment related to land gross profit, there are no adjustm
Slide 22: Non-GAAP Reconciliation (6/7)
NON-GAAP RECONCILIATION (6/7) $ in millions For the Three Months Ended March 31, 2025 2026 Net cash provided by (used in) operating activities $114.4 ($46.4) Capital expenditures 15.2 13.8 Free cash flow 99.2 (60.2) © Copyright 2026 World Kinect Corporation. Proprietary & Confidential. All Rights Re
Slide 23: Non-GAAP Reconciliation (7/7)
NON-GAAP RECONCILIATION (7/7) $MM, Except per Share Data For the Three Months Ended March 31, 2025 For the Three Months Ended March 31, 2026 GAAP Adjustments Non-GAAP GAAP Adjustments Non-GAAP Aviation Gross Profit $115.7 $0.0 $115.7 $138.2 $0.0 $138.2 Operating Expenses 59.5 (2.2) 57.3 80.6 (2.9) 7
Slide 24: Investor Relations Contact
INVESTOR Braulio Medrano RELATIONS Senior Director FP&A and Investor Relations investor@worldfuel.com CONTACT © Copyright 2026 World Kinect Corporation. Proprietary & Confidential. All Rights Reserved.