FLEETCOR Technologies : Q320 Earnings Release Supplement

3Q2020 Earnings Release Supplement

Refer to earnings release dated November 5, 2020 for further information

Safe Harbor Provision

This presentation contains forward-looking statements within the meaning of the federal securities laws. Statements that are not historical facts, including statements about FleetCor's beliefs, assumptions, expectations and future performance, are forward-looking statements. Forward-looking statements can be identified by the use of words such as "anticipate," "intend," "believe," "estimate," "plan," "seek," "project" or "expect," "may," "will," "would," "could" or "should," the negative of these terms or other comparable terminology.

These forward-looking statements are not a guarantee of performance, and you should not place undue reliance on such statements. We have based these forward-looking statements largely on preliminary information, internal estimates and management assumptions, expectations and plans about future conditions, events and results. Forward-looking statements are subject to many uncertainties and other variable circumstances, such as the impact of global, political, market, health and other conditions, including the impact of the coronavirus (COVID-19); regulatory measures or voluntary actions, including social distancing, shelter- in-place, shutdowns of nonessential businesses and similar measures imposed or undertaken in an effort to contain and mitigate the spread of the coronavirus (COVID-19); adverse outcomes with respect to current and future legal proceedings, including, without limitation, the FTC lawsuit, or actions of governmental or quasi- governmental bodies or standards or industry organizations with respect to our payment cards; delays or failures associated with implementation of, or adaption to, new technology; fuel price and spread volatility; changes in credit risk of customers and associated losses; the actions of regulators relating to payment cards or resulting from investigations; failure to maintain or renew key business relationships; failure to maintain competitive product offerings; failure to complete, or delays in completing, anticipated new partnerships and customer arrangements or acquisitions and to successfully integrate or otherwise achieve anticipated benefits from such partnerships and customer arrangements or acquired businesses; failure to successfully expand and manage our business internationally; other risks related to our international operations, including the potential impact to our business as a result of the United Kingdom's referendum to leave the European Union; the impact of foreign exchange rates on operations, revenue and income; the effects of general economic and political conditions on fueling patterns and the commercial activity of fleets; risks related to litigation; the impact of new tax regulations and the resolution of tax contingencies resulting in additional tax liabilities; as well as the other risks and uncertainties identified under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2019 filed with the Securities and Exchange Commission on March 2, 2020 and subsequent filings made by us. These factors could cause our actual results and experience to differ materially from any forward-looking statement. The forward-looking statements included in this presentation are made only as of the date hereof. We do not undertake, and specifically disclaim, any obligation to update any such statements as a result of new information, future events or developments, except as specifically stated or to the extent required by law. You may get FLEETCOR's Securities and Exchange Commission ("SEC") filings for free by visiting the SEC web site at www.sec.gov.

This presentation includes non-GAAP financial measures, which are used by the Company and investors as supplemental measures to evaluate the overall operating performance of companies in our industry. By providing these non-GAAP financial measures, together with reconciliations, we believe we are enhancing investors' understanding of our business and our results of operations, as well as assisting investors in evaluating how well we are executing strategic initiatives. See the appendix for additional information regarding these GAAP financial measures and a reconciliation to the nearest corresponding GAAP measure.

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3Q20 Key Numbers

(14)% Revenue contraction

(12)% Organic revenue contraction1

(10)% Adjusted net income per diluted share1

92.3% Revenue weighted volume retention2

$1.6 billion Available liquidity

• bps Credit losses on billed revenue
• • $13.5 million of credit losses

Total Revenue

($ in millions)

$681

$585

3Q193Q20

Adjusted Net Income Per Share1

$3.10

$2.80

3Q193Q20

1. Non-GAAP financial measures; See appendix for reconciliation of non-GAAP measures to GAAP

2. Based on volume relevant to business or product (e.g., gallons, spend, etc.) weighted by revenue; excludes European Private Label businesses, where Fleetcor is a processor instead of issuer. Also excludes Cambridge due to the nature of business customer, businesses owned less than one year, and Chevron divestiture. 3Q20 includes petroleum marketer volume.

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3Q20 Bridge vs Prior Year

Revenue

$681	(in millions)

$22$585

$(85)

$(33)

3Q19Core ChangeMacro1Acquisitions3Q20

$3.10		Adjusted Net Income Per Share
				$0.09	$2.80
		$0.01	$0.12	$0.10

$(0.44)	$(0.18)

3Q19	Core Change	Macro 2	Acquisitions	Lower	Lower Share Tax Rate	3Q20
				Interest	Count
				Rates

1. Macro consists of approximately $28 million for the impact to revenue of movements in foreign exchange rates and a net impact of $4.9 million from fuel prices and fuel spreads
2. Consists of the impact in footnote 1, with partial offset from impact of foreign exchange rates on expenses

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