WEX — Feb 5, 2025 release

12 Balance Sheet and Debt The following table includes a further condensed version of our balance sheet as well as key operating metrics relevant to our balance sheet: (in millions, except for leverage ratio) 12/31/22 3/31/23 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 Cash and Cash Equivalents $ 922  $ 922  $ 901  $ 958  $ 976  $ 780  $ 683  $ 535  $ 599  Accounts Receivable 3,276  3,400  3,622  4,054  3,429  3,857  3,966  3,770  3,023  Long-Term Debt, Net 2,522  2,631  2,499  2,650  2,828  3,082  2,960  3,143  3,082  Corporate Cash $ 171  $ 149  $ 194  $ 170  $ 172  $ 176  $ 143  $ 123  $ 80  Available Liquidity 10 $ 1,070  $ 925  $ 1,087  $ 1,095  $ 903  $ 639  $ 947  $ 729  $ 735  Leverage Ratio 2.5x 2.5x 2.8x 2.4x 2.5x 2.6x 2.5x 2.6x 2.6x Investment Securities at Cost 11 $ 1,536  $ 2,597  $ 2,789  $ 2,830  $ 3,102  $ 3,411  $ 3,438  $ 3,734  $ 3,875  We remain in a healthy financial position and ended the year with $735 million of available liquidity that includes our available corporate cash and capacity to borrow under our revolving credit agreement. Our leverage ratio, as defined in the credit agreement, stands at 2.6 times, and remains within our long-term target of 2.5 times to 3.5 times. Our low leverage levels support our ability to continue to invest in the business, return capital to shareholders, and maintain capacity for strategic transactions. The following table summarizes the Company's long-term debt maturities, excluding our revolver and nominal scheduled principal payments on our term loans: We have maintained ample access to debt markets and strategically review our debt composition and maturity schedule to align with our long-term objectives. We currently have a three-year runway before our next maturity and believe this provides an appropriate cushion to remain opportunistic in the market. As part of our ongoing efforts to minimize interest expense, we successfully renegotiated a reduction in our Term Loan B spread by 0.25% in Q4 2024, our second reduction since January 2024. Earlier in the year, we refinanced our Term Loan A and revolving credit agreement, extending the term to 2028 and improving our pricing terms. The net effect of refinancing activity in 2024 is expected to reduce interest expense by more than $10 million on an annualized basis; assuming borrowings are consistent with Q4 2024. (10)      Available liquidity includes corporate cash,