WEX Board of Directors Announces Extension of Share Repurchase Program

PORTLAND, Maine–(BUSINESS WIRE)–WEX Inc. (NYSE:WEX), a leading financial technology service provider, today announced that its Board of Directors has extended its share repurchase program that was initiated in 2017 and was set to expire on September 30, 2021. Under the renewed repurchase program, the Company may repurchase up to $150 million worth of the company’s common stock. The repurchase program will expire on September 30, 2025, subject to earlier termination of the program by the Board of Directors. As of July 28, 2021, the Company had approximately 44.8 million shares outstanding.

Repurchases may be made from time to time until expiration or termination of the program through open market purchases, privately negotiated transactions, block trades or otherwise. Repurchases, if any, under the program are subject to certain considerations, including but not limited to, market pricing and conditions, business, legal, accounting and other considerations. The repurchase program does not obligate the Company to repurchase any shares. All instructions for the repurchase of shares under this program are currently required to be in compliance with Rule 10b-18 and the covenants of any credit facility or indentures then outstanding. Purchases may be executed utilizing the safe harbor provisions of Rule 10b5-1 of the Securities Exchange Act.

About WEX

WEX (NYSE: WEX) is a leading financial technology service provider. We provide payment solutions to businesses of all sizes across a wide spectrum of sectors, including fleet, corporate payments, travel and health. WEX has offices in 14 countries and employs approximately 5,200 people around the world. Learn more at LinkedInFacebookInstagramTwitter, and our corporate blog. For more information, visit www.wexinc.com.