Program Authorizes up to $150 Million Worth of Company Stock To Be Repurchased

WEX, the global commerce platform that simplifies the business of running a business, announced that its board of directors has authorized a new share repurchase program under which up to $150 million worth of WEX’s common stock may be repurchased.

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Immediately prior to authorizing the new plan, the board of directors terminated the previously authorized share repurchase plan, which WEX had substantially completed in August 2022. Under this program, in total, WEX repurchased 954,378 shares at an average price paid per share of $156.76.

Under the new program, repurchases may be made on a discretionary basis from time to time until August 23, 2026 through open market purchases, privately negotiated transactions, block trades or otherwise. The timing and amount of any transactions will be subject to the discretion of WEX based upon, among other things, market conditions and other opportunities that the Company may have for the use or investment of its cash balances. In addition, repurchases are subject to the availability of shares of stock for purchase, prevailing market conditions, the trading price of the Company’s stock and the Company’s financial performance. The repurchase program does not obligate WEX to acquire any specific number of shares and may be modified, discontinued or suspended at any time. WEX intends that all instructions for the repurchase of shares under this program shall be in compliance with Rule 10b-18 and the covenants or provisions of any debt or other obligations then outstanding. Purchases may be executed through the use of Rule 10b5-1 trading plans or other techniques.

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