Corpay — Nov 7, 2024 release

For fourth quarter 2024, Corpay, Inc.’s updated financial guidance 1 i s as follows: • Total revenues between $1,040 million and $1,070 million; • Net income per diluted share between $4.28 and $4.48; and • Adjusted net income per diluted share between $5.25 and $5.45. Corpay’s guidance assumptions are as follows: For the balance of the year: • Weighted average U.S. fuel prices of $3.26 per gallon; • Fuel price spreads relatively flat with the 2024 average; and • Foreign exchange rates equal to the October 2024 average. For the full year: • Interest expense between $380 million and $390 million; • Approximately 72 million fully diluted shares outstanding; • An effective tax rate of approximately 23% to 24%; and • No impact related to material acquisitions not closed. Increase of Term Loan B Credit Facility and Increase in Share Repurchase Authorization: On September 26, 2024, the Company completed a $500 million upsizing to the Term Loan B credit facility, at substantially similar terms to the existing debt. The proceeds were used to pay down the revolver; consequently, the incremental debt had a minimal impact on the Company’s leverage position at quarter end. The Board is also announcing today an increase in the share repurchase authorization by $1 billion, as authorized on November 5, 2024. Conference Call: The Company will host a conference call to discuss third quarter 2024 financial results today at 5:00 pm ET. Hosting the call will be Ron Clarke, chief executive officer, Tom Panther, chief financial officer and Jim Eglseder, investor relations. The conference call wi