WEX: Second Quarter 2026 Earnings Presentation

July fi3, fi0fi6

Every day, businesses manage payments and workflows that are complex,

regulated, and mission-critical

Our technology is deeply embedded into customers' operations

to simplify payments, enrich data, and ensure compliance - at scale

We transform data into intelligence to deliver tailored control over spending, stronger cash flow visibility, and reduced fraud exposure

simplifies the business of running a business

3

• Revenue and adjusted net income per diluted share1

  exceeded guidance ranges

• Excluding fuel prices and FX, we delivered on expectations with strong execution across the organization

• Strong value proposition delivering new sales growth across our segments

• Deleveraged below 3x and are prioritizing returning cash to shareholders in the near term

1 See appendix for a reconciliation of GAAP net income per diluted share to non-GAAP adjusted net income per diluted share.

Q2'26 4

Revenue

+14.2% YOY

Adj. Operating Income Margin2

+~280 basis points YOY

Adj. Net Income Per Diluted Share1

+35.4% YOY

TTM Adj. Free Cash Flow3

+22.2% YOY

1 See appendix for a reconciliation of GAAP net income per diluted share to non-GAAP adjusted net income per diluted share.

2 See appendix for a reconciliation of GAAP operating income and related margin to non-GAAP total segment adjusted operating income and related margin and adjusted operating income and related margin.

3 See appendix for our definition of adjusted free cash flow and reconciliation of GAAP operating cash flow to non-GAAP adjusted free cash flow.

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We Are Executing A Customer-Centric Stretegy To Deliver Susteineble, Profiteble Growth

STRATEGIC PILLARS

1 2 3

Amplify Our Core

We leverage our deep customer and channel relationships, proprietary data and technology assets, scale, and financial and regulatory expertise to grow in key core markets

Expand Our Reach

We extend into new markets where we have a clear right to win and where our differentiated assets allow us to create a stronger customer value proposition

Accelerate Innovation

AI enables us to deliver better products at a faster pace, unlock our commercial potential, and drive efficiency and operating leverage

Our strategic pillars are powered by organic investments in technology, new product development, and our sales and marketing engine

Q2'26 6

1 2 3

Amplify Our Core

• In Mobility, a focus on fundamentals including pricing, customer retention, and margin expansion

• In Benefits, a strong open enrollment season and healthy start to the 2027 sales pipeline

• In Benefits, introduced a GLP-1 HRA and partnered with DoorDash® to integrate WEX HSA/FSA cards into the app wallet

  Expand Our Reach

• In Corporate Payments, expanding outside of travel in Direct AP and Embedded Payments

• In Mobility, seeing continued success marketing to smaller fleets

• In Mobility, 10-4 by WEX™ has seen significant user growth as higher fuel prices have encouraged adoption

  Accelerate Innovation

• Across WEX, AI is helping process claims faster, power coding, and empower teams to work more efficiently

• In Mobility, launched AI Insights tool as a premium offering for fleets empowered by our proprietary data

• In Mobility, AI-powered credit tools enabled faster decisions for customers while controlling costs

  Q2'26 7

  
  
  Embedding AI Across the Enterprise

  Our Focus Early Wins & Initiatives

  Technology & Product

  Risk & Credit

  Operations & Customer Experience

  Improving developer productivity to accelerate product development

  Empowering credit and fraud models to expand our underwriting potential while maintaining risk discipline

  Automating and enhancing processes to improve customer experience and expand margin potential

• 40% of coding generated by AI

• Developing next-gen agents that will span the product lifecycle

• Faster & smarter credit decisioning across the business

• 120k+ customers YTD have received proactive credit increases amidst rising fuel prices, allowing them to continue using their WEX products

• 99.9% reduction in average claims processing time when using WEX's Claims AI tool vs. manual process

• Scaling Voice AI technology across Benefits customer service following successful pilot results

  Commercial

  Improving our go-to-market motion while strengthening the value we provide our customers

• AI Insights for Mobility launched into beta - leveraging our deep lake of proprietary data to create a premium offering

• 2.5x improvement achieved in pilot program for lead generation productivity in Corporate Payments; now expanding to other areas

Q2'26 8

Capital Allocation Priorities

General Approach Near-Term Priority Key Statistic

Reinvestment

Prioritize disciplined investments in technology, product, and customer experience through capex

Continue to invest organically in core offerings and new products & markets

Returns-based approach to direct investment dollars to highest-value opportunities

M&A

Returns-driven approach to strategic M&A opportunities

Prioritizing share repurchases in the near term to maximize shareholder value

Returns-based approach benchmarked to share repurchases

Q2'26 9

Strong Balance Sheet

Target leverage ratio of 2.5-3.0x

Continue to operate below 3.0x leverage ratio

Leverage ratio of 2.9x at quarter end

Share Repurchases

Programmatic and value-accretive share repurchases

Direct the vast majority of adjusted free cash flow to share repurchases

Returned ~$60 million to shareholders through Q2 and

~$2 billion since 2022

10

1 See appendix for a reconciliation of GAAP net income to non-GAAP adjusted net income and GAAP net income per diluted share to non-GAAP adjusted net income per diluted share.

Q2'26 11

Mobility

~50% of annual revenue

Benefits

~30% of annual revenue

Corporate Payments

~20% of annual revenue

WEX Consolidated

$346.2

22.0%

$422.4

$195.1

5.6%

$206.0

$118.3

5.8%

$125.1

$659.6

14.2%

$753.5

38.7%

43.2%

43.5%

40.5%

41.9%

46.7%

36.8%

39.6%

Q2 25 Q2 26

Q2 25 Q2 26

Q2 25 Q2 26

Q2 25 Q2 26

Segment Adjusted Operating Margin

Segment Adjusted Operating Margin

Segment Adjusted Operating Margin

Adjusted Operating Income Margin

Segment revenue growth above benefited 19.0% due to fuel prices and foreign exchange rates

WEX revenue growth above benefited 10.0% due to fuel prices and foreign exchange rates

1 See appendix for a reconciliation of GAAP operating income and related margin to non-GAAP total segment adjusted operating income and related margin and adjusted operating income and related margin. Segment adjusted operating income margin is derived by dividing segment adjusted operating income by the revenue of the corresponding segment (or the entire Company in the case of total segment adjusted operating income).

Segment adjusted operating income and related margins can be found in the press release announcing Q2 26 financial results.

Q2'26 12

Mobility

• Revenue increased 22.0%, or 3.1% excluding FX and PPG

• Payment processing transactions were flat year-over-year and increased 6.8% sequentially

• BP portfolio fully online in Q2

• Accelerating pricing actions with $15M of additional revenue expected in 2H 2026

  Q2 2026 By the Numbers

  $422M

  Revenue

  43.2%

  Adj. Operating Income Margin1

  139.3M

  Payment processing transactions

  1 See appendix for a reconciliation of GAAP operating income and related margin to non-GAAP total segment adjusted operating income and related margin and adjusted operating income and related margin. Segment adjusted operating income margin is derived by dividing segment adjusted operating income by the revenue of the corresponding segment (or the entire Company in the case of total segment adjusted operating income).

  Segment adjusted operating income and related margins can be found in the press release announcing Q2 26 financial results.

  Q2'26 13

  
  
  Benefits

• Revenue increased 5.6%

• HSA accounts grew 7%

• Average SaaS accounts grew 2.2%, in line with expectations

• Average custodial cash assets grew 11.1%

• Custodial investment revenue grew 11.4%

  Q2 2026 By the Numbers

  $206M

  Revenue

  40.5%

  Adj. Operating Income Margin1

  21.7M

  Average SaaS Accounts

  1 See appendix for a reconciliation of GAAP operating income and related margin to non-GAAP total segment adjusted operating income and related margin and adjusted operating income and related margin. Segment adjusted operating income margin is derived by dividing segment adjusted operating income by the revenue of the corresponding segment (or the entire Company in the case of total segment adjusted operating income).

  Segment adjusted operating income and related margins can be found in the press release announcing Q2 26 financial results.

  Q2'26 14

  
  
  

  Corporete Peyments

• Revenue increased 5.8%, at the high end of expectations

• Net interchange rate expanded 5 basis points

• Total travel volume increased 6.4%

• Direct AP volume grew 20%

Q2 2026 By the Numbers

$125M

Revenue

46.7%

Adj. Operating Income Margin1

$38.6B

Total Volume

1 See appendix for a reconciliation of GAAP operating income and related margin to non-GAAP total segment adjusted operating income and related margin and adjusted operating income and related margin. Segment adjusted operating income margin is derived by dividing segment adjusted operating income by the revenue of the corresponding segment (or the entire Company in the case of total segment adjusted operating income).

Segment adjusted operating income and related margins can be found in the press release announcing Q2 26 financial results.

*Total Volume includes purchases on WEX-issued accounts as well as purchases on third-party issued accounts using a WEX platform.

Q2'26 15

Belence Sheet end Adjusted Free Cesh Flow

Trailing 12 Months Adjusted Free Cash Flow1 ($M)

Q2 2026 adjusted free cash flow1 of $219 million

$638.0 $671.3 $696.0

$569.5 $546.2

6/30/25 9/30/25 12/31/25 3/31/26 6/30/26

• Adjusted free cash flow1 of $269 million year to date

• Corporate cash2 balance of ~$123 million

• Borrowing capacity3 of $1.11 billion on credit facility

Leverage Ratio by Quarter

3.4x 3.25x 3.1x 3.1x 2.9x

6/30/25 9/30/25 12/31/25 3/31/26 6/30/26

• Leverage ratio remains within target range of 2.5-3.0x4

• Committed to continue operating with leverage below 3.0x

Strengthened By: WEX Bank

Superior Economics Revenue Accelerator Simplified Compliance Single Accountability

1 See appendix for our definition of adjusted free cash flow and reconciliation of GAAP operating cash flow to non-GAAP adjusted free cash flow.

2 Corporate cash and leverage ratio are calculated in accordance with the terms of our consolidated leverage ratio in the Company's Amended and Restated Credit Agreement as filed with the SEC.

3 Reflects available borrowing capacity on Revolving Credit Facility, which is net of outstanding borrowings and issued letters of credit.

4 For all periods shown prior to the quarter ended 6/30/26, our leverage ratio target range was 2.5x-3.5x.

Q2'26 16

Financial

Q3'26 Full Year 2026

Guidance also includes the following

Guidance

Current Guidance

Current Guidance

Changes from Prior Guide at Midpoint

assumptions:

• U.S. retail fuel prices estimated at $3.90 per gallon

  Change

  Low High Low High $

  %

  Change

  Fuel Price Impact

  for Q3 and $3.91 per gallon for the full year, based on the applicable NYMEX futures curve from the week of July 13, 2026; this assumption increased

  Adjusted Net Income per Diluted Share1

  $5.45 $5.65 $19.68 $20.08 $0.63 3% $0.46

  Q3'26 Full Year 2026

  2026 revenue and EPS guidance by approximately

  $32 million and $0.46 cents, respectively.

• No interest rate changes assumed for the rest of the year.

  Key Guidance Assumptions

  Current Guidance

  $3.90

  Current Guidance

  $3.91

  Change from Prior Guide at Midpoint

  $0.21

  % Change

  6%

• Foreign exchange rates are as of the end of June 2026.

• Adjusted net income effective tax rate of 25.0% for 2026 (all periods).

  (1)%

  (0.2)

  35.0

  34.7

  Weighted Average Diluted Shares Outstanding, in millions

  Average U.S. Retail Fuel Prices per Gallon

  Mobility Credit Losses (bps)

  8 - 13 12 - 17 - -%

• Does not include any further share repurchases beyond the approximately $60 million bought through Q2.

1 The Company's adjusted net income guidance, which is a non-GAAP measure, excludes unrealized gains and losses on financial instruments, net foreign currency gains and losses, acquisition-related intangible amortization, other acquisition and divestiture related items, stock-based compensation, other costs, debt restructuring costs and debt issuance cost amortization, tax related items and certain other non-operating items and non-recurring or non-cash operating charges that are not core to our operations, as applicable depending on the period presented. We are unable to reconcile our adjusted net income guidance to the comparable GAAP measure without unreasonable effort because of the difficulty in predicting the amounts to be adjusted, including, but not limited to, foreign currency exchange rates, unrealized gains and losses on financial instruments, and acquisition and divestiture-related items, which may have a significant impact on our financial results.

Q2'26 17

18

Finenciel Guidence end Assumptions (Addl.)

The following tables include estimated revenue and ANI per diluted share sensitivities to changes in PPG and interest rates as of the date of this presentation. As a reminder, the impacts of these macro factors can and will change based upon various factors, including material volatility in fuel prices and the composition of our balance sheet. We target maintaining a materially neutral ANI per share impact from 100 bps adjustments to interest rates and can adjust our profile through balance sheet strategies and hedging.

The following charts2 represent a walk between our previous 2026 guidance and our revised 2026 guidance, accounting for the primary drivers that have changed.

$2,900

$2,800

Full Year 2026 Revenue Guidance Walk

$2,882

$21.00

$19.50

Full Year 2026 ANI per Share Guidance Walk

$19.88

$19.25

2.4% 0.4% 0.5%

$2,850

1.1%

$2,700

$2,600

$18.00

$2,500

Previous 2026 Guidance at Midpoint

PPG Revised 2026 Guidance at Midpoint

Previous 2026 Guidance at Midpoint

PPG Share

Buybacks

Underlying Growth

Revised 2026 Guidance at Midpoint

1 The Company's adjusted net income guidance, which is a non-GAAP measure, excludes unrealized gains and losses on financial instruments, net foreign currency gains and losses, acquisition-related intangible amortization, other acquisition and divestiture related items, stock-based compensation, other costs, debt restructuring costs and debt issuance cost amortization, tax related items and certain other non-operating items and non-recurring or non-cash operating charges that are not core to our operations, as applicable depending on the period presented. We are unable to reconcile our adjusted net income guidance to the comparable GAAP measure without unreasonable effort because of the difficulty in predicting the amounts to be adjusted, including, but not limited

to, foreign currency exchange rates, unrealized gains and losses on financial instruments, and acquisition and divestiture-related items, which may have a significant impact on our financial results. 19

2 The PPG impacts above include adjustment for international fuel price spreads.

Our Stretegy Hes Driven Long-Term Growth

Total Revenue ($B)

11% CAGR

Adjusted Net Income per Diluted Share1

17% CAGR

1 See appendix for a reconciliation of GAAP Net Income Attributable to Shareholders per Diluted Share to Adjusted Net Income Attributable to Shareholders per Diluted Share.

Q2'26 20