WEX First Quarter 2019 Earnings May 2, 2019

WEX Forward-Looking Statements This earnings presentation contains forward-looking statements, including statements regarding: financial guidance; assumptions underlying the Company's financial guidance; future growth opportunities; expectations for customer conversions; profitability; technology advances; and, market expansion. Any statements that are not statements of historical facts may be deemed to be forward-looking statements. When used in this earnings presentation and the discussion accompanying it, the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “project” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such words. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially, including: tthe effects of general economic conditions on fueling patterns as well as payment and transaction processing activity; the impact of foreign currency exchange rates on the Company’s operations, revenue and income; changes in interest rates; the impact of fluctuations in fuel prices; the effects of the Company’s business expansion and acquisition efforts; potential adverse changes to business or employee relationships, including those resulting from the completion of an acquisition; competitive responses to any acquisitions; uncertainty of the expected financial performance of the combined operations following completion of an acquisition; the failure to successfully integrate the Company's acquisitions; the ability to realize anticipated synergies and cost savings; unexpected costs, charges or expenses resulting from an acquisition; the Company's ability to successfully acquire, integrate, operate and expand commercial fuel card programs; the failure of corporate investments to result in anticipated strategic value; the impact and size of credit losses; the impact of changes to the Company's credit standards; breaches of the Company’s technology systems or those of the Company's third-party service providers and any resulting negative impact on the Company's reputation, liabilities or relationships with customers or merchants; the Company’s failure to maintain or renew key commercial agreements; failure to expand the Company’s technological capabilities and service offerings as rapidly as the Company’s competitors; failure to successfully implement the Company's information technology strategies and capabilities in connection with its technology outsourcing and insourcing arrangements and any resulting cost associated with that failure; the actions of regulatory bodies, including banking and securities regulators, or possible changes in banking or financial regulations impacting the Company’s industrial bank, the Company as the corporate parent or other subsidiaries or affiliates; the impact of the material weaknesses disclosed in Item 9A of the Company's annual report on Form 10-K for the year ended December 31, 2018 and the effects of the Company's investigation and remediation efforts in connection with certain immaterial errors in the financial statements of our Brazilian subsidiary; the impact of the Company’s outstanding notes on its operations; the impact of increased leverage on the Company's operations, results or borrowing capacity generally, and as a result of acquisitions specifically; the incurrence of impairment charges if our assessment of the fair value of certain of our reporting units changes; the uncertainties of litigation; as well as other risks and uncertainties identified in Item 1A of our Annual Report for the year ended December 31, 2018 filed on Form 10-K with the Securities and Exchange Commission on March 18, 2019. The Company's forward-looking statements do not reflect the potential future impact of any alliance, merger, acquisition, disposition or stock repurchases. The forward-looking statements speak only as of the date of this earnings presentation and undue reliance should not be placed on these statements. The Company disclaims any obligation to update any forward-looking statements as a result of new information, future events or otherwise.Non-GAAP Information:For additional important information and disclosure regarding our use of non-GAAP metrics, specifically adjusted net income, please see our most recent earnings release, issued on May 2, 2019. See the Appendix to this presentation for an explanation and reconciliation of non-GAAP adjusted net income (or “ANI”) to GAAP net income, ANI per diluted share to GAAP net income per diluted share, and adjusted operating margin to GAAP operating margin.

1Q2019 Highlights Fleet Travel & Corporate Health & Employee Benefits 8% (9)% 4% 1Q2019 Segment Revenue Growth Vs. 1Q2018 +19% +22% +1% US Healthcare up 31%

Strategic Pillars HIGHLIGHTS FOR THE QUARTER Great start to 2019 on heels of record results in 2018Transition of Shell portfolio completed; Chevron on track to complete by end of Q2Completed acquisitions of Discovery Benefits and Noventis; announced EG Fleet Continued rollout of Clearview Snap analytics now at more than 6,000 customersDriver Dash mobile payment app in testing with another large oil companyImpressive corporate payments volume growth of nearly 50%Robust enrollment season leads to strong revenue growth in US Health businessLarge focus on onboarding new employees from recent acquisitions

Executing on the WEX Strategy FLEET TRAVEL & CORPORATE HEALTH & EMPLOYEE BENEFITS Onboarding Shell portfolio completedOnboarding Chevron portfolio on track for Q2 completionDriver Dash pilot with large merchant 45% increase in SmartHub mobile app utilizationOptimization of marketing tools leading to small fleet growth Completed acquisition of Noventis expanding our capabilities in corporate payments marketProgress on Noventis product integrationSigned Mondee Travel, one of the largest airline aggregatorsLaunched new UI enhancing and modernizing experience for both direct clients and partners Enhanced HSA usability and guidanceAdvanced consumer analytics including proprietary healthcare financial indexNew electronic provider payment capability allows providers to choose preferred payment method LEADING WITH SUPERIOR PRODUCTS AND TECHNOLOGY BUILDING UPON OUR BEST-IN-CLASS GROWTH ENGINE

Corporate Payments Spotlight Optimize payment workflows for buyers and suppliers End Customers Channels WEX Value U.S. Businesses Direct to Corporate Financial Institutions Technology Partners Scale$60B in spend volume OptionalityNetworks and products AgilityModern technology Global ReachSettlements in more than 20 currencies ExpertiseDeep industry expertise MARKET SIZE$7.5Bin revenue NEEDS AND DESIRES ADDRESSEDOperational burden managing Accounts PayableCash flow optimizationSecurity and fraud concernsA/P department from cost center to profit center

WEX First Quarter 2019 Financial Results

Company Results - Q1 2019 1Q19 1Q18 $ ∆ Yr/Yr % ∆ Yr/Yr Total Revenue $381,876 $354,028 $27,848 7.9% Net income attributable to shareholders $16,134 $51,970 $(35,836) (69.0)% Net income attributable to WEX Inc. per diluted share $0.37 $1.20 $(0.83) (69.2)% Adjusted net income attributable to shareholders $74,824 $82,018 $(7,194) (8.8)% Adjusted net income attributable to shareholders per diluted share $1.72 $1.89 $(0.17) (9.0)% First quarter results building a solid foundation for remainder of the year In thousands except per share data

Revenue Breakdown - Q1 2019 1Q19 1Q18 $ ∆ Yr/Yr % ∆ Yr/Yr Total Revenue $381,876 $354,028 $27,848 7.9% Segment Revenue Fleet Solutions $232,782 $230,365 $2,417 1.0% Travel and Corporate Solutions $81,648 $66,779 $14,869 22.3% Health and Employee Benefit Solutions $67,446 $56,884 $10,562 18.6% Double digit growth rate for Travel and Corporate Solutions and Health and Employee Benefit Solutions Segments In thousands unless otherwise noted

Fleet Solutions 1Q19 1Q18 $ ∆ Yr/Yr % ∆ Yr/Yr Total Segment Revenue ($) 232,782 230,365 2,417 1.0% Payment Processing Revenue ($) 107,408 106,978 430 0.4% Finance Fee Revenue ($) 45,864 43,604 2,260 5.2% All Other Revenue ($) 79,510 79,783 (273) (0.3)% Payment Processing Transactions 115,404 109,827 5,577 5.1% Net Payment Processing Rate (%) 1.27% 1.27% —% —% Average US Fuel Price ($/gallon) $2.67 $2.78 $(0.11) (4.0)% Net Late Fee Rate (%) 0.44% 0.41% 0.03% 7.3% Strength in North America Fuel Business offset by international markets and lower fuel prices In thousands unless otherwise noted

Travel and Corporate Solutions 1Q19 1Q18 $ ∆ Yr/Yr % ∆ Yr/Yr Total Segment Revenue ($) 81,648 66,779 14,869 22.3% Payment Processing Revenue ($) 59,998 44,777 15,221 34.0% All Other Revenue ($) 21,650 22,002 (352) (1.6)% Purchase Volume ($) 8,405,661 7,940,543 465,118 5.9% Net Interchange Rate (%) 0.71% 0.56% 0.15% 26.8% Corporate payments growth and acquisition of Noventis drive strong revenue growth In thousands unless otherwise noted

Health and Employee Benefit Solutions 1Q19 1Q18 $ ∆ Yr/Yr % ∆ Yr/Yr Total Segment Revenue ($) 67,446 56,884 10,562 18.6% Payment Processing Revenue ($) 19,392 16,699 2,693 16.1% Account Servicing Revenue ($) 37,262 27,025 10,237 37.9% All Other Revenue ($) 10,792 13,160 (2,368) (18.0)% Purchase Volume * ($) 1,657,588 1,503,400 154,188 10.3% Average Number of SaaS Accounts* 12,729 10,826 1,903 17.6% Strong US Health revenue growth bolstered by acquisition of Discovery Benefits In thousands unless otherwise noted* US Only

Selected Operating Expenses and Margins Processing costs are up mainly due to acquisitions and Shell/Chevron portfoliosFleet credit loss was 15.7 basis points from 12.5G&A up primarily for acquisitionsSales and marketing expenses up mainly due to Shell/Chevron, acquisitions and partner rebates (In thousands) 1Q19 1Q19 1Q18 1Q18 $ ∆ Yr/Yr $ ∆ Yr/Yr % ∆ Yr/Yr Processing costs $ 91,119 $ 73,106 $ 18,013 24.6 % Service fees $ 14,246 $ 12,326 $ 1,920 15.6 % Provision for credit losses $ 17,791 $ 14,226 $ 3,565 25.1 % Operating interest $ 9,564 $ 8,485 $ 1,079 12.7 % General and administrative $ 64,405 $ 55,309 $ 9,096 16.4 % Sales and marketing $ 64,119 $ 56,541 $ 7,578 13.4 % 1Q19 1Q18 ∆ Yr/Yr in basis points GAAP operating income margin 18.1% 23.7% (560) Non-GAAP adjusted operating income margin 34.1% 38.8% (470) Operating Income Margin Cost of services Selling general and administrative Selected Operating Expenses (GAAP)

Tax Rate Key Updates ANI tax rate down slightly from Q1 2018 due to mix of US vs foreign earnings

Additional Balance Sheet Items Key Updates Corporate cash1 balance was $96.5 million Borrowing capacity of $547 million on line of creditTotal financing debt includes $50 million deferred payment for DBI acquisition which will paid Jan 2020Leverage ratio was 4.0, due to recent acquisition activityIncreased capacity of Term A and Revolver in January 2019Interest rate hedges in place with a market value of $5.8 million Significant mitigation of interest rate risk - approximately 65% of Financing Debt at effectively fixed rates 1 Corporate cash is calculated in accordance with the terms of our consolidated leverage ratio in the Company’s amended 2016 Credit Agreement as filed with the SEC

Guidance 2Q2019 OUTLOOK ∆ Yr/Yr FY2019 OUTLOOK ∆ Yr/Yr Revenue (in millions) $438 - $443 18% - 19% $1,705 - $1,745 15% - 17% Adjusted Net Income1 (in millions) $97 - $100 8% - 11% $399 - $416 12% - 17% Adjusted Net Income Earnings per Diluted Share1 $2.22 - $2.28 7% - 10% $9.10 - $9.50 11% - 16% Domestic Fuel Prices ($ / Gallon) $2.85 $2.78 Fleet Credit Loss (Basis Points) 11 - 16 13 - 18 Adjusted Net Income Tax Rate 24.5% - 26% 24.5% - 26% Number of Shares Outstanding 43.8 million 43.8 million 1 The Company's adjusted net income guidance, which is a non-GAAP measure, excludes unrealized gains and losses on financial instruments, net foreign currency remeasurement gains and losses, acquisition related intangible amortization, other acquisition and divestiture related items, stock-based compensation, restructuring and other costs, debt restructuring and debt issuance cost amortization, similar adjustments attributable to our non-controlling interest and certain tax related items. We are unable to reconcile our adjusted net income guidance to the comparable GAAP measure without unreasonable effort because of the difficulty in predicting the amounts to be adjusted, including but not limited to, foreign currency exchange rates, unrealized gains and losses on derivative instruments and acquisition and divestiture related items, which may have a significant impact on our financial results. 2019 full year guidance increased to reflect higher fuel prices projected by the market

Appendix

WEX Non-GAAP Reconciliation Three Months Ended March 31, Three Months Ended March 31, 2019 2019 2018 2018 (in thousands except per share data) per diluted share per diluted share per dilutedshare per dilutedshare Net income attributable to shareholders $ 16,134 $ 0.37 $ 51,970 $ 1.20 Unrealized losses (gains) on financial instruments 11,912 0.27 (13,508 ) (0.31 ) Net foreign currency remeasurement losses (gains) 3,885 0.09 (390 ) (0.01 ) Acquisition–related intangible amortization 33,888 0.78 35,236 0.81 Other acquisition and divestiture related items 9,780 0.23 637 0.01 Stock–based compensation 10,442 0.24 8,955 0.21 Restructuring and other costs 2,755 0.06 5,671 0.13 Debt restructuring and debt issuance cost amortization 6,496 0.15 6,692 0.15 ANI adjustments attributable to non–controlling interest (573 ) (0.01 ) (352 ) (0.01 ) Tax related items (19,895 ) (0.46 ) (12,893 ) (0.30 ) Adjusted net income attributable to shareholders $ 74,824 $ 1.72 $ 82,018 $ 1.89

WEX Non-GAAP Reconciliation Three Months Ended March 31, Three Months Ended March 31, (In thousands) 2019 2019 2018 2018 Operating income (GAAP) $ 68,935 $ 83,859 Acquisition-related intangible amortization 33,888 35,236 Other acquisition and divestiture related items 9,780 637 Debt restructuring 4,400 3,015 Stock-based compensation 10,442 8,955 Restructuring and other costs 2,755 5,671 Adjusted operating income (Non-GAAP) $ 130,200 $ 137,373 Three Months Ended March 31, Three Months Ended March 31, (In thousands except margin data) 2019 2019 2018 2018 Operating income (GAAP) $ 68,935 $ 83,859 Total Revenue $ 381,876 $ 354,028 Operating income margin (GAAP) 18.1 % 23.7 % Adjusted operating income (Non-GAAP) $ 130,200 $ 137,373 Total Revenue $ 381,876 $ 354,028 Adjusted operating income margin (Non-GAAP) 34.1 % 38.8 %

WEX Non-GAAP Reconciliation The Company's non-GAAP adjusted net income excludes unrealized gains and losses on financial instruments, net foreign currency remeasurement gains and losses, acquisition-related intangible amortization, other acquisition and divestiture related items, stock-based compensation, restructuring and other costs, debt restructuring and debt issuance cost amortization, similar adjustments attributable to our non-controlling interests and certain tax related items. Although adjusted net income is not calculated in accordance with U.S. generally accepted accounting principles (“GAAP”), this non-GAAP measure is integral to the Company's reporting and planning processes and the chief operating decision maker of the Company uses segment adjusted operating income to allocate resources among our operating segments. The Company considers this measure integral because it excludes the above-specified items that the Company's management excludes in evaluating the Company's performance. Specifically, in addition to evaluating the Company's performance on a GAAP basis, management evaluates the Company's performance on a basis that excludes the above items because:Exclusion of the non-cash, mark-to-market adjustments on financial instruments, including interest rate swap agreements and investment securities, helps management identify and assess trends in the Company's underlying business that might otherwise be obscured due to quarterly non-cash earnings fluctuations associated with these financial instruments. Net foreign currency gains and losses primarily result from the remeasurement to functional currency of cash, receivable and payable balances, certain intercompany notes denominated in foreign currencies and any gain or loss on foreign currency hedges relating to these items. The exclusion of these items helps management compare changes in operating results between periods that might otherwise be obscured due to currency fluctuations.The Company considers certain acquisition-related costs, including certain financing costs, investment banking fees, warranty and indemnity insurance, certain integration related expenses and amortization of acquired intangibles, as well as gains and losses from divestitures to be unpredictable, dependent on factors that may be outside of our control and unrelated to the continuing operations of the acquired or divested business or the Company. In addition, the size and complexity of an acquisition, which often drives the magnitude of acquisition-related costs, may not be indicative of such future costs. The Company believes that excluding acquisition-related costs and gains or losses of divestitures facilitates the comparison of our financial results to the Company's historical operating results and to other companies in our industry.Stock-based compensation is different from other forms of compensation as it is a non-cash expense. For example, a cash salary generally has a fixed and unvarying cash cost. In contrast, the expense associated with an equity-based award is generally unrelated to the amount of cash ultimately received by the employee, and the cost to the Company is based on a stock-based compensation valuation methodology and underlying assumptions that may vary over time.Restructuring and other costs are related to certain identified initiatives to further streamline the business, improve the Company's efficiency, create synergies and to globalize the Company's operations, all with an objective to improve scale and increase profitability going forward. This also includes other immaterial costs that the Company has incurred and are non-operational and non-recurring. We exclude these items when evaluating our continuing business performance as such items are not consistently occurring and do not reflect expected future operating expense, nor do they provide insight into the fundamentals of current or past operations of our business. Debt restructuring and debt issuance cost amortization are unrelated to the continuing operations of the Company. Debt restructuring costs are not consistently occurring and do not reflect expected future operating expense, nor do they provide insight into the fundamentals of current or past operations of our business. In addition, since debt issuance cost amortization is dependent upon the financing method which can vary widely company to company, we believe that excluding these costs helps to facilitate comparison to historical results as well as to other companies within our industry.The adjustments attributable to non-controlling interests, including adjustments to the redemption value of a non-controlling interest, have no significant impact on the ongoing operations of the business.The tax related items are the difference between the Company’s U.S. GAAP tax provision and a pro forma tax provision based upon the Company’s adjusted net income before taxes as well as the impact from certain discrete tax items. The methodology utilized for calculating the Company’s adjusted net income tax provision is the same methodology utilized in calculating the Company’s U.S. GAAP tax provision.For the same reasons, WEX believes that adjusted net income may also be useful to investors as one means of evaluating the Company's performance. However, because adjusted net income is a non-GAAP measure, it should not be considered as a substitute for, or superior to, net income, operating income or cash flows from operating activities as determined in accordance with GAAP. In addition, adjusted net income as used by WEX may not be comparable to similarly titled measures employed by other companies.