Business Description

WEX is a global commerce platform that provides seamlessly embedded, personalized payments solutions across three business segments: Mobility, Benefits, and Corporate Payments. Our purpose is to simplify the business of running a business. That purpose has become increasingly relevant as organizations face rising complexity driven by fragmented systems, manual workflows, increasing costs, and greater compliance demands. These challenges slow decision-making and introduce additional operational risk. Leveraging our deep industry expertise, WEX has developed platforms and proprietary networks that address these issues by delivering the technologies and services that enable our customers to achieve greater speed and efficiency, cost savings, accuracy, and insight across financial and administrative workflows. WEX’s products and services are built for scale, processing hundreds of billions of dollars in transactions each year across our Mobility, Corporate Payments, and Benefits segments. Both in our direct-to-corporate and partner channels, customers benefit from this scale. By bringing payments, data, and processes together within customers’ existing systems, we transform everyday transactions into payment intelligence that helps organizations protect margins, optimize cash flow, reduce risk, and navigate the growing complexity of today’s global economy. WEX’s solutions span the following three business segments: • Mobility. Our Mobility segment is a global leader in fleet payment solutions, transaction processing, and information management. We support fleets of all sizes globally through our proprietary closed-loop networks and a suite of software solutions that help manage fuel, EV charging, and operational workflows. • Benefits. Our Benefits segment provides SaaS software integrated with payment solutions that simplify employee benefits administration. We offer a broad range of consumer-directed health accounts, benefit administration services, and compliance solutions that help employers streamline processes, reduce costs, and support their employees. • Corporate Payments. Our Corporate Payments segment delivers global B2B payment solutions that integrate virtual payments into customer and partner workflows. We support accounts payable automation, embedded payment use cases across industries — including the travel industry — and white-label programs for financial institutions through our issuing capabilities and payment technology. The following graphic illustrates how our competencies and capabilities come together to support these key segments: 7 Table of Contents PART I Our wholly owned subsidiary, WEX Bank, currently funds a significant portion of our Mobility and Corporate Payments operations. The Bank's credit team has deep risk management knowledge and expertise, which they utilize to establish and oversee lending parameters, extend credit, monitor portfolio performance and manage concentration and industry-related risks, which are incorporated into underwriting standards to support prudent risk management. We believe that our ownership of WEX Bank provides us with a competitive advantage through access to low-cost sources of capital and liquidity and enables us to design funding solutions for customers that complement our technology solutions. Additionally, WEX Bank manages a compliance program designed to ensure adherence to applicable laws and regulations, including anti-money laundering monitoring, sanctions screening and suspicious activity reporting. WEX Bank also serves as a depository institution for the majority of HSA deposits held by the Company, investing these funds in fixed-income debt securities. This in-house function allows WEX to maximize investment returns while maintaining an effective risk profile. We believe the breadth of our ecosystem — our technology, talented workforce, and global customer and partner footprint — not only positions us to help organizations operate more efficiently and manage complexity, but also provides WEX with a diverse set of levers to support the achievement of our financial and business goals. Certain Key Developments in 2025 • WEX repurchased a total of $790 million of our common stock, returning capital to shareholders and reducing our total outstanding share count by more than 5 million shares, or approximately 13 percent, since the end of 2024.…