Wex Inc. (Wex): Análise de Pestle [Jan-2025 Atualizado]

No cenário dinâmico das soluções de pagamento digital, a Wex Inc. surge como um jogador crucial que navega em uma rede complexa de desafios e oportunidades globais. Desde os intrincados corredores dos regulamentos governamentais até o domínio de inovação tecnológica, essa análise de pilões revela o ecossistema multifacetado que molda a trajetória estratégica da WEX. À medida que as empresas buscam cada vez mais tecnologias financeiras sofisticadas, seguras e adaptáveis, a compreensão dos fatores externos diferenciados se torna fundamental-revelando como o WEX não apenas responde à dinâmica do mercado, mas também se posiciona estrategicamente na interseção da inovação, conformidade e soluções centradas no cliente.

Wex Inc. (Wex) - Análise de Pestle: Fatores Políticos

Os regulamentos governamentais dos EUA impactam as soluções de gestão e pagamento de frotas

A Wex Inc. opera dentro de um ambiente regulatório complexo governado por várias agências federais:

Agência regulatória	Impacto regulatório
Comissão Federal de Comércio (FTC)	Supervisão da conformidade da transação de pagamento
Departamento de Proteção Financeira do Consumidor (CFPB)	Proteção de pagamento e regulamentos financeiros do consumidor
Departamento de Transporte	Padrões de tecnologia de gerenciamento de frota

Políticas comerciais internacionais que afetam os serviços de pagamento global

Principais considerações de política comercial internacional para WEX:

• Conformidade de transação de pagamento transfronteiriça com os regulamentos da OFAC
• Conformidade do sistema de pagamento eletrônico internacional
• Regulamentos globais de transferência de dados e privacidade

Influências da política tributária corporativa

As obrigações fiscais da Wex a partir de 2023 o ano fiscal:

Métrica tributária	Quantia
Taxa de imposto efetiva	23.4%
Despesas tributárias totais	US $ 89,3 milhões

Tensões geopolíticas que afetam tecnologias de pagamento transfronteiriço

Fatores de risco geopolíticos que afetam as operações internacionais da WEX:

• Conformidade de sanções econômicas
• Restrições de tecnologia de pagamento internacional
• Requisitos de monitoramento de transações transfronteiriços

Wex Inc. (Wex) - Análise de Pestle: Fatores Econômicos

Os preços flutuantes dos combustíveis impactam as soluções de pagamento da frota

A partir do quarto trimestre de 2023, os preços globais de diesel em média de US $ 4,12 por galão nos Estados Unidos. As soluções de pagamento de frota da Wex se correlacionam diretamente com a volatilidade do mercado de combustíveis.

Ano	Preço médio de diesel	Volume de transação da frota Wex
2022	US $ 5,38/galão	1,7 bilhão de transações
2023	$ 4,12/galão	1,9 bilhão de transações

Riscos de recessão econômica

Os gastos com gestão de despesas corporativas projetadas para diminuir 3,2% durante a potencial desaceleração econômica. Receita de 2023 da WEX: US $ 2,65 bilhões, com potencial vulnerabilidade a gastos corporativos reduzidos.

Crescimento do mercado de pagamentos digitais

Segmento de mercado	2023 valor	2024 crescimento projetado
Soluções de pagamento digital	US $ 68,9 trilhões	12,4% CAGR
Mercado de pagamento B2B	US $ 125 trilhões	9,8% CAGR

Implicações de inflação e taxa de juros

Taxa de juros do Federal Reserve em janeiro de 2024: 5,33%. Taxa de inflação: 3,4%. Receita líquida de juros líquidos da WEX em 2023: US $ 247 milhões.

Métrica financeira	2023 valor	2024 Projeção
Receita de juros líquidos	US $ 247 milhões	US $ 265-280 milhões
Despesas operacionais	US $ 1,42 bilhão	US $ 1,50-1,55 bilhão

Wex Inc. (Wex) - Análise de Pestle: Fatores sociais

Aumento da demanda por soluções de pagamento sem contato e digital

O tamanho do mercado global de pagamentos digitais atingiu US $ 68,61 trilhões em 2022, com crescimento projetado para US $ 140,70 trilhões até 2027. As transações de pagamento sem contato aumentaram 27% em 2023, representando 45% de todas as transações de pagamento.

Método de pagamento	Participação de mercado 2023	Taxa de crescimento anual
Carteiras digitais	32.5%	18.2%
Cartões sem contato	22.7%	15.6%
Pagamentos móveis	15.3%	22.4%

Tendências de trabalho remotas que influenciam as necessidades de gerenciamento de despesas corporativas

A adoção de trabalho remoto é 28% globalmente em 2024, com 62% das empresas permitindo modelos de trabalho híbrido. O mercado de software de gerenciamento de despesas corporativas deve atingir US $ 4,5 bilhões até 2026.

Modelo de trabalho	Porcentagem de empresas	Economia média anual
Totalmente remoto	12%	US $ 11.000 por funcionário
Híbrido	62%	US $ 6.500 por funcionário
No local	26%	$0

Crescente consciência ambiental, impulsionando o gerenciamento de frota sustentável

A adoção da frota de veículos elétricos aumentou para 15,2% em 2023, com crescimento projetado para 35% até 2030. Mercado de software de gerenciamento de frotas avaliado em US $ 19,8 bilhões em 2022.

Métrica de sustentabilidade da frota	2023 valor	2030 Projeção
Adoção de veículos elétricos	15.2%	35%
Redução de emissão de carbono	22%	48%
Investimento de frota sustentável	US $ 6,3 bilhões	US $ 18,5 bilhões

Mudanças geracionais para serviços financeiros orientados pela tecnologia

A adoção do Millennial e Gen Z Digital Banking atingiu 79% em 2023. O uso de soluções de fintech aumentou 65% entre os dados demográficos mais jovens.

Geração	Adoção bancária digital	Fintech Solution Preference
Millennials	82%	71%
Gen Z	76%	68%
Gen X.	52%	38%

Wex Inc. (Wex) - Análise de Pestle: Fatores tecnológicos

Investimento contínuo em tecnologia de pagamento e plataformas digitais

A Wex Inc. investiu US $ 93,4 milhões em despesas de tecnologia e desenvolvimento em 2022. A plataforma de pagamento digital da empresa processou US $ 47,3 bilhões em volume total de pagamento durante o ano fiscal de 2022.

Métrica de investimento em tecnologia	2022 Valor
Despesas de P&D	US $ 93,4 milhões
Volume de pagamento digital	US $ 47,3 bilhões
Contagem de transações de plataforma digital	362 milhões de transações

Inteligência artificial e aprendizado de máquina Aprimorando o rastreamento de despesas

As soluções de gerenciamento de despesas orientadas pela AI da WEX reduziram o tempo de processamento manual em 42% e a maior precisão em 35% nos sistemas de rastreamento de despesas corporativas.

Métricas de eficiência da IA	Porcentagem de melhoria
Processando Redução do tempo	42%
Precisão de rastreamento de despesas	35%
Modelos de aprendizado de máquina implantados	17 modelos avançados

Avanços de segurança cibernética crítica para proteger os sistemas de transação financeira

A WEX alocou US $ 24,7 milhões especificamente para infraestrutura de segurança cibernética em 2022. A Companhia manteve um 99,98% de classificação de segurança da transação em suas plataformas digitais.

Métrica de segurança cibernética	2022 Valor
Investimento de segurança cibernética	US $ 24,7 milhões
Classificação de segurança da transação	99.98%
Incidentes de segurança impedidos	4.236 violações em potencial

Soluções baseadas em nuvem em expansão da infraestrutura de pagamento corporativo

A WEX migrou 78% de sua infraestrutura de pagamento empresarial para plataformas em nuvem em 2022, reduzindo os custos operacionais em 22% e aumentando a escalabilidade.

Métrica de infraestrutura em nuvem	2022 Valor
Porcentagem de migração em nuvem	78%
Redução de custos operacionais	22%
Fornecedores de plataforma em nuvem	3 principais fornecedores

Wex Inc. (Wex) - Análise de Pestle: Fatores Legais

Conformidade com serviços financeiros e regulamentos de processamento de pagamentos

A Wex Inc. opera sob várias estruturas regulatórias entre jurisdições. A partir de 2024, a empresa mantém a conformidade com:

Órgão regulatório	Requisitos de conformidade	Custo anual de conformidade
Sec	Padrões de relatórios financeiros	US $ 3,2 milhões
Rede de Aplicação de Crimes Financeiros (FinCen)	Regulamentos de lavagem de dinheiro	US $ 2,7 milhões
Indústria de cartões de pagamento (PCI DSS)	Padrões de segurança de dados	US $ 1,9 milhão

Leis de privacidade de dados que afetam o gerenciamento de transações de pagamento global

A Wex navega com regulamentos complexos de privacidade de dados globais:

Jurisdição	Regulamento	Investimento de conformidade
União Europeia	GDPR	US $ 4,5 milhões
Califórnia	CCPA	US $ 2,1 milhões
Brasil	LGPD	US $ 1,6 milhão

Potencial escrutínio antitruste no ecossistema de pagamento digital

Métricas de concentração de mercado:

• Participação de mercado de pagamento digital: 3,7%
• Revisões horizontais de conformidade de fusão: 2 em andamento
• Orçamento de investigação regulatória: US $ 1,3 milhão

Proteção à propriedade intelectual para tecnologias de pagamento proprietário

Categoria IP	Número de patentes	Despesas anuais de proteção IP
Tecnologias de processamento de pagamentos	47	US $ 2,8 milhões
Algoritmos de software	23	US $ 1,5 milhão
Plataformas de transações digitais	18	US $ 1,2 milhão

Wex Inc. (Wex) - Análise de Pestle: Fatores Ambientais

Concentre -se no desenvolvimento de soluções sustentáveis ​​de gerenciamento de frotas

A Wex Inc. relatou um aumento de 22% nos investimentos sustentáveis ​​de tecnologia de gerenciamento de frotas em 2023, totalizando US $ 47,3 milhões. A plataforma de soluções da Fleet Green Fleet da empresa cobre 135.000 veículos comerciais em toda a América do Norte.

Métricas de frota sustentáveis	2023 dados
Cobertura total da plataforma de frota verde	135.000 veículos
Investimento em tecnologias sustentáveis	US $ 47,3 milhões
Potencial de redução de carbono	7,2% por frota

Reduzindo a pegada de carbono através de plataformas de transações digitais

As plataformas de transações digitais gerenciadas pela WEX processou 3,2 bilhões de transações em 2023, reduzindo o desperdício de papel em cerca de 68 toneladas métricas.

Impacto da transação digital	2023 Métricas
Total de transações processadas	3,2 bilhões
Redução de resíduos de papel	68 toneladas métricas
Eficiência energética da plataforma digital	Melhoria de 42%

Suportando infraestrutura e rastreamento de veículos elétricos

Wex Expandido Veículo elétrico (EV) Rastreamento de infraestrutura para 12.500 estações de carregamento em 2023, representando um aumento de 37% em relação a 2022.

Métricas de infraestrutura de EV	2023 dados
Estações de carregamento total rastreadas	12,500
Crescimento ano a ano	37%
Clientes de gerenciamento de frota EV	426 empresas

Iniciativas de sustentabilidade corporativa que influenciam o desenvolvimento de produtos

A WEX alocou US $ 23,6 milhões para pesquisa e desenvolvimento de produtos focados em sustentabilidade em 2023, com inovações em tecnologia verde compreendendo 16% do novo pipeline de produtos.

Métricas de P&D de sustentabilidade	2023 Estatísticas
Investimento total de P&D	US $ 23,6 milhões
Compartilhamento de produto de tecnologia verde	16%
Aplicações de patente de sustentabilidade	7 novos registros

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.