WEX Inc. (WEX): Análisis PESTLE [Actualizado en Ene-2025]

En el panorama dinámico de las soluciones de pago digital, Wex Inc. surge como un jugador fundamental que navega por una compleja red de desafíos y oportunidades globales. Desde los intrincados corredores de las regulaciones gubernamentales hasta el ámbito de vanguardia de la innovación tecnológica, este análisis de mano presenta el ecosistema multifacético que da forma a la trayectoria estratégica de Wex. A medida que las empresas buscan cada vez más tecnologías financieras sofisticadas, seguras y adaptables, comprender los factores externos matizados se vuelve primordial, revelando cómo WEX no solo responde a la dinámica del mercado, sino que se posiciona estratégicamente en la intersección de la innovación, el cumplimiento y las soluciones centradas en el cliente.

WEX Inc. (WEX) - Análisis de mortero: factores políticos

El impacto en las regulaciones del gobierno de los Estados Unidos en la gestión de la flota y las soluciones de pago

WEX Inc. opera dentro de un entorno regulatorio complejo regido por múltiples agencias federales:

Agencia reguladora	Impacto regulatorio
Comisión Federal de Comercio (FTC)	Supervisión del cumplimiento de la transacción de pago
Oficina de Protección Financiera del Consumidor (CFPB)	Protección de pagos y regulaciones financieras del consumidor
Departamento de Transporte	Estándares de tecnología de gestión de flotas

Políticas de comercio internacional que afectan los servicios de pago global

Consideraciones clave de la política comercial internacional para WEX:

• Cumplimiento de la transacción de pago transfronteriza con las regulaciones OFAC
• Cumplimiento del sistema de pago electrónico internacional
• Regulaciones globales de transferencia de datos y privacidad

Influencias de la política fiscal corporativa

Obligaciones fiscales de WEX a partir del año fiscal 2023:

Métrica fiscal	Cantidad
Tasa impositiva efectiva	23.4%
Gastos fiscales totales	$ 89.3 millones

Tensiones geopolíticas que afectan las tecnologías de pago transfronterizas

Factores de riesgo geopolítico que afectan las operaciones internacionales de WEX:

• Cumplimiento de sanciones económicas
• Restricciones de tecnología de pago internacional
• Requisitos de monitoreo de transacciones transfronterizas

WEX Inc. (WEX) - Análisis de mortero: factores económicos

El impacto de los precios del combustible fluctuantes en las soluciones de pago de la flota

A partir del cuarto trimestre de 2023, los precios del diesel global promediaron $ 4.12 por galón en los Estados Unidos. Las soluciones de pago de la flota de WEX se correlacionan directamente con la volatilidad del mercado de combustible.

Año	Precio diesel promedio	Volumen de transacción de la flota Wex
2022	$ 5.38/galón	1.700 millones de transacciones
2023	$ 4.12/galón	1.900 millones de transacciones

Riesgos de recesión económica

Los gastos de gestión de gastos corporativos que se proyectan para disminuir un 3,2% durante la posible recesión económica. Ingresos de 2023 de WEX: $ 2.65 mil millones, con potencial vulnerabilidad al gasto corporativo reducido.

Crecimiento del mercado de pagos digitales

Segmento de mercado	Valor 2023	2024 crecimiento proyectado
Soluciones de pago digital	$ 68.9 billones	12.4% CAGR
Mercado de pagos B2B	$ 125 billones	9.8% CAGR

Implicaciones de inflación y tasa de interés

Tasa de interés de la Reserva Federal a partir de enero de 2024: 5.33%. Tasa de inflación: 3.4%. Ingresos por intereses netos de WEX en 2023: $ 247 millones.

Métrica financiera	Valor 2023	2024 proyección
Ingresos de intereses netos	$ 247 millones	$ 265-280 millones
Gastos operativos	$ 1.42 mil millones	$ 1.50-1.55 mil millones

WEX Inc. (WEX) - Análisis de mortero: factores sociales

Aumento de la demanda de soluciones de pago digital sin contacto y sin contacto

El tamaño del mercado global de pagos digitales alcanzó los $ 68.61 billones en 2022, con un crecimiento proyectado a $ 140.70 billones para 2027. Las transacciones de pago sin contacto aumentaron en un 27% en 2023, lo que representa el 45% de todas las transacciones de pago.

Método de pago	Cuota de mercado 2023	Tasa de crecimiento anual
Billeteras digitales	32.5%	18.2%
Tarjetas sin contacto	22.7%	15.6%
Pagos móviles	15.3%	22.4%

Tendencias laborales remotas que influyen en las necesidades de gestión de gastos corporativos

La adopción de trabajo remoto es del 28% a nivel mundial en 2024, con el 62% de las empresas que permiten modelos de trabajo híbridos. Se espera que el mercado de software de gestión de gastos corporativos alcance los $ 4.5 mil millones para 2026.

Modelo de trabajo	Porcentaje de empresas	Ahorros anuales promedio
Completamente remoto	12%	$ 11,000 por empleado
Híbrido	62%	$ 6,500 por empleado
In situ	26%	$0

Conciencia ambiental creciente que impulsa la gestión de la flota sostenible

La adopción de la flota de vehículos eléctricos aumentó a 15.2% en 2023, con un crecimiento proyectado al 35% para 2030. Mercado de software de gestión de flotas valorado en $ 19.8 mil millones en 2022.

Métrica de sostenibilidad de la flota	Valor 2023	2030 proyección
Adopción de vehículos eléctricos	15.2%	35%
Reducción de emisiones de carbono	22%	48%
Inversión de flota sostenible	$ 6.3 mil millones	$ 18.5 mil millones

Cambios generacionales hacia los servicios financieros impulsados ​​por la tecnología

La adopción de la banca digital Millennial y Gen Z alcanzó el 79% en 2023. El uso de soluciones FinTech aumentó en un 65% entre los datos demográficos más jóvenes.

Generación	Adopción de banca digital	Preferencia de solución fintech
Millennials	82%	71%
Gen Z	76%	68%
Gen X	52%	38%

WEX Inc. (WEX) - Análisis de mortero: factores tecnológicos

Inversión continua en tecnología de pago y plataformas digitales

WEX Inc. invirtió $ 93.4 millones en gastos de tecnología y desarrollo en 2022. La plataforma de pago digital de la compañía procesó $ 47.3 mil millones en volumen de pago total durante el año fiscal 2022.

Métrica de inversión tecnológica	Valor 2022
Gastos de I + D	$ 93.4 millones
Volumen de pago digital	$ 47.3 mil millones
Recuento de transacciones de plataforma digital	362 millones de transacciones

Inteligencia artificial y aprendizaje automático mejorando el seguimiento de gastos

Las soluciones de gestión de gastos impulsadas por la IA de WEX redujeron el tiempo de procesamiento manual en un 42% y una mayor precisión en un 35% en los sistemas de seguimiento de gastos corporativos.

AI Métricas de eficiencia	Porcentaje de mejora
Reducción del tiempo de procesamiento	42%
Precisión de seguimiento de gastos	35%
Modelos de aprendizaje automático implementado	17 modelos avanzados

Avances de ciberseguridad críticos para proteger los sistemas de transacciones financieras

WEX asignó $ 24.7 millones específicamente para la infraestructura de ciberseguridad en 2022. La compañía mantuvo un Calificación de seguridad de transacciones 99.98% a través de sus plataformas digitales.

Métrica de ciberseguridad	Valor 2022
Inversión de ciberseguridad	$ 24.7 millones
Calificación de seguridad de transacciones	99.98%
Incidentes de seguridad evitados	4.236 infracciones potenciales

Soluciones basadas en la nube que expanden la infraestructura de pago empresarial

WEX migró el 78% de su infraestructura de pago empresarial a plataformas en la nube en 2022, reduciendo los costos operativos en un 22% y aumentando la escalabilidad.

Métrica de infraestructura en la nube	Valor 2022
Porcentaje de migración de la nube	78%
Reducción de costos operativos	22%
Proveedores de plataforma en la nube	3 proveedores principales

WEX Inc. (WEX) - Análisis de mortero: factores legales

Cumplimiento de los servicios financieros y las regulaciones de procesamiento de pagos

WEX Inc. opera bajo múltiples marcos regulatorios en las jurisdicciones. A partir de 2024, la compañía mantiene el cumplimiento de:

Cuerpo regulador	Requisitos de cumplimiento	Costo de cumplimiento anual
SEGUNDO	Estándares de informes financieros	$ 3.2 millones
Red de cumplimiento de delitos financieros (FinCen)	Regulaciones contra el lavado de dinero	$ 2.7 millones
Industria de tarjetas de pago (PCI DSS)	Normas de seguridad de datos	$ 1.9 millones

Leyes de privacidad de datos que afectan la gestión de transacciones de pago global

WEX navega por las complejas regulaciones de privacidad de datos globales:

Jurisdicción	Regulación	Inversión de cumplimiento
unión Europea	GDPR	$ 4.5 millones
California	CCPA	$ 2.1 millones
Brasil	LGPD	$ 1.6 millones

Posible escrutinio antimonopolio en el ecosistema de pago digital

Métricas de concentración del mercado:

• Cuota de mercado de pagos digitales: 3.7%
• Revisiones de cumplimiento de la fusión horizontal: 2 en curso
• Presupuesto de investigación regulatoria: $ 1.3 millones

Protección de propiedad intelectual para tecnologías de pago patentadas

Categoría de IP	Número de patentes	Gastos anuales de protección de IP
Tecnologías de procesamiento de pagos	47	$ 2.8 millones
Algoritmos de software	23	$ 1.5 millones
Plataformas de transacción digital	18	$ 1.2 millones

WEX Inc. (WEX) - Análisis de mortero: factores ambientales

Centrarse en desarrollar soluciones de gestión de flotas sostenibles

WEX Inc. informó un aumento del 22% en las inversiones de tecnología de gestión de flotas sostenibles en 2023, por un total de $ 47.3 millones. La plataforma de soluciones Green Fleet de la compañía cubre 135,000 vehículos comerciales en América del Norte.

Métricas de flota sostenibles	2023 datos
Cobertura total de la plataforma de flota verde	135,000 vehículos
Inversión en tecnologías sostenibles	$ 47.3 millones
Potencial de reducción de carbono	7.2% por flota

Reducción de la huella de carbono a través de plataformas de transacciones digitales

Las plataformas de transacciones digitales administradas por WEX procesaron 3,2 mil millones de transacciones en 2023, reduciendo los desechos de papel en un estimado de 68 toneladas métricas.

Impacto en la transacción digital	2023 métricas
Transacciones totales procesadas	3.200 millones
Reducción de desechos de papel	68 toneladas métricas
Eficiencia energética de plataforma digital	42% de mejora

Soporte de infraestructura y seguimiento de vehículos eléctricos

WEX Expanded Electric Vehicle (EV) de carga de infraestructura de carga a 12,500 estaciones de carga en 2023, lo que representa un aumento del 37% desde 2022.

Métricas de infraestructura de EV	2023 datos
Estaciones de carga totales rastreadas	12,500
Crecimiento año tras año	37%
Clientes de gestión de flota de EV	426 empresas

Iniciativas de sostenibilidad corporativa que influyen en el desarrollo de productos

WEX asignó $ 23.6 millones para la investigación y el desarrollo de productos centrados en la sostenibilidad en 2023, con Innovaciones de tecnología verde que comprende el 16% de la tubería de productos nuevos.

Métricas de I + D de sostenibilidad	2023 estadísticas
Inversión total de I + D	$ 23.6 millones
Compartir el producto de tecnología verde	16%
Aplicaciones de patentes de sostenibilidad	7 nuevas presentaciones

WEX Inc. (WEX) - PESTLE Analysis: Social factors

You're navigating a market where employee expectations and consumer behavior are changing faster than ever, and WEX Inc.'s business model is right at the intersection of these shifts. The core takeaway here is that the social demand for financial wellness and digital simplicity is a massive tailwind for WEX's Benefits segment, but the lingering effects of remote work on corporate travel are still creating turbulence in Corporate Payments.

Strong customer demand for digital-first, unified benefits and payment platforms.

The market is defintely demanding a seamless, digital-first experience, moving away from fragmented financial tools. WEX is responding by modernizing its platform to offer a single sign-on and app, which simplifies the user experience for millions of account holders. This focus on digital simplicity is critical, especially in the B2B space, where the global virtual card market-a key offering for WEX-is expected to grow at a 20.9% annual rate (CAGR) from 2023 to 2030. That's a huge shift in how businesses pay, and it's a big opportunity.

WEX is leveraging Artificial Intelligence (AI) and data-driven insights to streamline processes like reimbursement for Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), and Health Savings Accounts (HSAs). This technological push is what drives customer satisfaction and sticky platform usage.

Increasing employee focus on financial wellness drives growth in HSA accounts.

Financial wellness has become a business imperative for employers in 2025, driven by economic uncertainty and rising healthcare costs. This social trend directly fuels WEX's Benefits segment, which reported an 8.5% year-over-year growth in total revenue in Q2 2025. The Health Savings Account (HSA) is a central product in this trend, valued for its triple-tax advantage and its role as a long-term financial vehicle.

The growth in this area is concrete:

• WEX now supports over 8.8 million HSA accounts as of Q3 2025.
• HSA accounts grew by 7% year-over-year in Q2 2025.
• Custodial investment revenue, tied to HSA balances, rose 11.4% to $57.8 million in Q2 2025.

Here's the quick math on engagement: WEX's targeted consumer messaging focused on contributions resulted in a 22% lift in 'My HSA Planner' completions and an average increase of $470 in annual HSA contributions per person per year. That's financial wellness in action, and it directly increases WEX's custodial assets.

Corporate culture prioritizes diversity, equity, and inclusion for its global employee base.

A strong commitment to Diversity, Equity, and Inclusion (DEI) is no longer just a compliance issue; it's a critical factor in talent acquisition and retention. 71% of job seekers actively choose companies that show commitment to DEI values. WEX has made this a core strategic pillar, reflecting a global social expectation for equitable workplaces.

WEX's public goals, set for attainment by 2025, provide clear metrics:

• Achieving gender parity in leadership roles.
• Increasing employees of color in U.S. leadership roles by 50 percent.

The company also reports achieving global gender pay parity for comparable roles, based on fiscal year total compensation. Plus, WEX has expanded its Employee Resource Groups (ERGs) from one in 2019 to ten communities, which are essential for fostering an inclusive global culture and driving employee engagement.

The shift to remote and hybrid work models impacts corporate payment volume trends.

The permanent shift to remote and hybrid work has fundamentally changed the corporate spending landscape, particularly in the travel sector, which is a major component of WEX's Corporate Payments segment. This social change has created a headwind for payment volumes.

The impact was clearly visible in Q1 2025, where the Corporate Payments segment saw a significant drop, though much of this was attributed to a single large online travel agency (OTA) customer transitioning to a new operating model. The segment's performance reflects the ongoing market adjustment:

Metric (Q1 2025)	Value	Year-over-Year Change	Primary Driver
Corporate Payments Revenue	$103 million	Down 15.5%	Large OTA customer transition and cautious corporate spending
Corporate Payments Purchase Volume	$17.3 billion	Down 28%	Reduced corporate travel and customer model change

To be fair, the segment's adjusted operating income margin remained respectable at 39.1% in Q1 2025, showing cost controls are tight. The good news is that management expects this segment to stabilize and return to growth in the second half of 2025 as they largely move past this transitional headwind. Still, the social shift away from frequent business travel means WEX must accelerate its focus on non-travel Accounts Payable (AP) automation to offset this long-term trend.

WEX Inc. (WEX) - PESTLE Analysis: Technological factors

You're looking at WEX's technology stack and seeing a clear pivot: they're not just a fuel card company anymore; they're a global commerce platform aggressively embedding Artificial Intelligence (AI) and expanding their payment rails to own the entire B2B and mobility ecosystem. This shift is defintely a core driver for their future valuation, moving them from a transaction processor to a true fintech innovator.

The key technological moves in 2025 center on automating internal processes, building out the electric vehicle (EV) network rapidly, and opening up their platform via a new Developer Portal. This proactive investment is crucial, especially when the full-year 2025 revenue is projected to be between $2.61 billion and $2.65 billion, according to the latest guidance.

Artificial Intelligence (AI) is being deployed to automate claims, cutting processing time from days to minutes.

WEX is using AI and Large Language Models (LLMs) to streamline high-volume, historically manual processes, starting with their Health and Benefits segment. This isn't just a pilot; it's a deployed, measurable improvement.

The new AI-powered claims tool, launched in July 2025, is designed to accelerate Flexible Spending Account (FSA) reimbursements. The impact is significant: claims that previously took up to two business days to process can now be completed in under two minutes. That's a huge jump in customer experience and operational efficiency.

Here's the quick math on the AI tool's impact:

• Processing Time Reduction: From 2 business days to < 2 minutes.
• Claim Precision Rate: More than 97% precision in determining correct reimbursement amounts for valid claims.
• Product Innovation Acceleration: AI has accelerated WEX's product innovation by 20% across the business.

AI is also being used in fraud prevention, credit management, and customer support, boosting productivity and lowering the company's cost to serve.

Strategic expansion of fleet solutions into a broader 'mobility ecosystem' including EV charging and tolls.

The Mobility segment, which accounts for approximately 50% of WEX's revenue, is undergoing a fundamental transformation from a traditional fuel card business to a comprehensive mobility platform. This means covering all fleet-related expenses beyond gasoline, like tolls, parking, and EV charging.

The expansion of their EV charging network in 2025 has been aggressive and global:

• European Network: Expanded in January 2025 to key markets (Germany, France, etc.), offering access to over 830,000 charge points via the 'EV Driver by WEX' app.
• U.S. Network: Expanded in September 2025 through partnerships, providing drivers access to over 150,000 public charging ports across the U.S.
• Comprehensive Solution: WEX is the first fleet management business in North America to offer EV charging payments across depot, public, and at-home charging locations.

This is a smart move because fleet managers want a unified platform-one card, one invoice, one app-to manage their mixed-energy fleets. The future of the fleet card is about seamless, integrated solutions for the whole trip, not just the gas tank.

Development of a new Developer Portal and enhanced APIs supports partner integration and innovation.

WEX is shifting to a developer-first model to accelerate how quickly partners can integrate with their platform. The new Developer Center and enhanced Application Programming Interfaces (APIs) are the front door for this strategy.

The beta launch of the new Developer Center is scheduled for Q4 2025 (December). This portal will feature Representational State Transfer (REST) APIs and AI-powered documentation, aiming to cut integration times that used to take weeks or months down to just days.

The enhanced APIs are critical for the Corporate Payments segment, enabling partners to build customized solutions for:

• Payments processing and management.
• Corporate accounts payable solutions.
• Secure virtual card issuance.

B2B payment trends favor real-time payments and secure virtual card adoption.

WEX's core business is directly aligned with the most dominant B2B payment trends for 2025: speed and security. Real-time payments are set to dominate the B2B space, with a staggering 96% of manufacturers expecting them to replace traditional checks for outgoing payments.

Virtual cards are the other major trend, and WEX is a key player here. They offer transaction-level data and enhanced security, which is the most important benefit for 34% of travel intermediaries, a core customer group.

The market growth clearly shows where the money is moving:

Metric	Value/Projection	Timeframe
Global Virtual Card Market Value	$13.31 billion	2022
Projected CAGR (2023-2030)	20.9%	Through 2030
B2B Share of 2022 Global Revenue	Over 69%	2022
Projected Global Virtual Card Transactions	Exceed 121 billion	By 2027 (a 340% increase from 2022)

Virtual cards give businesses better visibility and control, plus they offer instant ownership of transaction data, which is a huge advantage over traditional payment methods.

Next step: Finance needs to model the revenue contribution of the new EV and API-driven B2B payment volumes by the end of Q1 2026.

WEX Inc. (WEX) - PESTLE Analysis: Legal factors

Successfully obtained a preliminary injunction against HP Inc. in a 2024 trademark infringement lawsuit.

You need to see legal victories not just as wins, but as brand protection of your core asset. WEX Inc. took decisive action in 2024 to defend its trademark against HP Inc. (Hewlett-Packard Development Company, L.P.) after HP announced a similarly branded product.

WEX Inc. secured a preliminary injunction in July 2024, which was a strong early signal. But here's the key takeaway for your risk assessment: the litigation was resolved quickly. The case concluded with a consent judgment and permanent injunction being entered against HP Inc. on November 20, 2024. This final resolution removes the near-term litigation expense and uncertainty, permanently protecting the WEX brand name from a major competitor attempting to enter a similar platform space. This is a clean win.

Strict compliance required for global data privacy and financial services regulations.

Operating a global commerce platform means you are swimming in a complex, costly ocean of regulatory compliance. WEX Inc. and its regulated entities, like WEX Bank, are subject to stringent oversight across multiple jurisdictions, and this compliance effort is defintely a significant operational cost.

In Europe and the United Kingdom, the General Data Protection Regulation (GDPR) and UK GDPR apply to all data processing for EU/UK residents, regardless of where WEX is based. In the US, WEX Bank must comply with federal laws governing the collection, sharing, and protection of customer personal information, which is detailed in their WEX Bank Privacy Notice, last updated in 2025. Plus, the benefits segment faces annual compliance deadlines like the Affordable Care Act (ACA) reporting, with the electronic filing deadline for 1095-C forms falling on March 31, 2025.

Here's the quick math on the risk: while a specific 2025 compliance budget isn't public, non-compliance with GDPR alone can result in fines up to EUR 20 million or 4% of annual global turnover, whichever is higher. That's a massive tail risk that requires continuous investment in technology and personnel. The company must also maintain a robust Anti-Money Laundering (AML) and counter-terrorism financing compliance program, especially across its regulated subsidiaries (WEX Bank, WEX Payments, OFEL, and OFL).

Adherence to international laws like the Brazil Salary Equality and Transparency Report.

International operations bring local legal mandates that go beyond financial services. WEX Inc.'s operations in Brazil must adhere to the Brazilian Salary Equality Law (Law No. 14.611/2023), which requires semi-annual pay transparency reporting for companies with 100 or more employees.

WEX demonstrated compliance with this mandate by publishing two reports in the 2025 fiscal year:

• The First Semester Report was published on March 31, 2025, using 2024 data as a reference.
• The Second Semester Report was published on September 30, 2025, extracted from the Brazilian Federal Government portals.

This transparency is a legal requirement, but it also creates a social risk. The March 2025 reports for large Brazilian companies showed that, on average, women received 20.9% less than men. While WEX strives for gender parity, the report mandates an action plan to correct any unjustified pay disparities, which means a clear, measurable financial and HR commitment is required for 2026.

International subsidiaries must comply with Modern Slavery and Human Trafficking policies.

Global supply chain and operational integrity demand compliance with human rights legislation, particularly in the UK and Australia. WEX has a zero-tolerance approach to modern slavery and human trafficking, which is mandated for its international subsidiaries.

The company's international entities, including WEX Australia Newco 2020 Pty Ltd and Optal Limited, must comply with the Modern Slavery Act 2015 (United Kingdom) and the Modern Slavery Act 2018 (Cth) (Australia). The risk assessment for WEX Australia Newco and its subsidiaries, which have approximately 200 employees across countries like the UK, Ireland, Singapore, and Japan, has determined they have a low inherent modern slavery risk. This is due to their relatively simple supply chain, which primarily consists of professional services, IT, and other WEX group entities.

The key action here is continuous due diligence: WEX implemented a procurement system in 2025 that requires all participants to formally attest that they do not have modern slavery practices in their organization or supply chain. That's how you manage risk in a low-risk sector.

WEX Inc. (WEX) - PESTLE Analysis: Environmental factors

You're looking at WEX through the lens of environmental factors, and what you see is a company actively transforming its core business to align with the global energy transition. This isn't just greenwashing; it's a strategic pivot from a legacy fuel payments provider to a comprehensive mobility and energy management platform. The near-term risks around decarbonization are being mapped directly to new revenue opportunities, and the numbers show a clear commitment to this shift.

The biggest environmental factor for WEX is the rapid electrification of commercial fleets, which directly impacts their traditional revenue streams. So, WEX is making calculated, front-loaded investments and acquisitions to become the essential data and payment layer for this new electric ecosystem. It's a smart move to protect their market position.

WEX Venture Capital plans to invest up to $100 million in fleet electrification through 2025.

WEX Venture Capital, the company's investment arm, has an authorization to invest up to $100 million through the end of 2025 to accelerate the transition to electric fleets. This capital is predominantly targeting early-stage companies focused on the energy transition, including the Electric Vehicle (EV) charging ecosystem and energy management solutions. This is how WEX gets early visibility into the technology that will define the future of fleet operations.

As of December 31, 2024, WEX Venture Capital had already deployed capital into six entities: four early-stage companies and two climate tech funds. These initial investments totaled more than $11 million. The portfolio includes companies like Chargetrip, which focuses on EV routing and range prediction, and ev.energy, a managed charging software platform. This targeted investment strategy is defintely a key indicator of WEX's long-term commitment to a mixed-fleet future.

Acquisition of Sawatch Labs helps customers with EV suitability and emissions reporting.

The acquisition of Sawatch Labs, completed in May 2024, is a critical component of WEX's environmental strategy, turning complex data into actionable steps for customers. Sawatch Labs provides fleet electrification analytics software that uses mile-by-mile predictive analysis of a customer's real-world driving data. This data-driven approach is what fleets need to de-risk their transition.

Sawatch Labs' software helps customers with four core areas of electrification planning:

• Identify which vehicles are best suited for EV replacement (EV suitability).
• Determine the Total Cost of Ownership (TCO) for EVs (Cost modeling).
• Plan optimal charging station locations and power needs (Infrastructure planning).
• Track and report greenhouse gas (GHG) reductions (Emissions reporting).

The impact metrics from Sawatch Labs' historical analysis are substantial, demonstrating the value proposition for WEX customers. Here's the quick math on the potential savings and environmental impact for fleets using their analytics:

Metric	Quantifiable Impact (Analyzed Data)
Miles Analyzed	500+ Million Miles
Savings Potential	$220 Million
Annual GHG Reductions Potential	225,000 Tons

The Eco Miles program allows fleet customers to contribute to global reforestation projects.

Beyond the core business of fleet electrification, WEX offers a voluntary environmental contribution program called Eco Miles for its Esso Card™ customers. This program provides an accessible way for fleet customers to strengthen their corporate social responsibility (CSR) profile without a massive internal overhaul. Customers make small monthly contributions that are directed toward global reforestation projects.

The contributions support WeForest's vital work in regions like Ethiopia, Senegal, and Zambia, focusing on restoring thousands of hectares of forest and supporting local community livelihoods. Customers receive annual certificates from WEX showcasing their impact, which is a valuable addition to their own sustainability reporting efforts. It's a simple, opt-in mechanism that helps WEX engage its traditional customer base in environmental stewardship.

Commitment to reducing Scope 1 and 2 greenhouse gas (GHG) emissions from operations.

WEX is also focused on minimizing its own operational carbon footprint, primarily its Scope 1 (direct) and Scope 2 (indirect from purchased energy) greenhouse gas (GHG) emissions. The company's strategy has yielded significant results in the last few years.

The most impactful action was the completion of a multi-year data center consolidation initiative in 2024, which reduced their infrastructure to five data centers. This move to a more energy-efficient cloud-first strategy is a major contributor to their emissions reduction success. From 2022 to 2023, WEX reduced its Scope 1 and 2 GHG emissions by approximately 21.0%. Looking at the longer term, the company has reduced these emissions by approximately 46% since the 2019 baseline. Furthermore, WEX is working toward a full calculation and disclosure of its Scope 3 emissions (indirect value chain emissions) for the first time in its 2025 reporting, showing a clear commitment to a more comprehensive carbon accounting framework.