WEX Inc. Announces New Collaboration with Enterprise Fleet Management in Canada

WEX
Inc.
, a leading global provider of corporate payment solutions,
today announced that it has signed a new agreement with Enterprise
Fleet Management
in Canada. The partnership supports Enterprise’s
growth in the Canadian market through WEX’s Canadian fleet capabilities.

WEX and Enterprise Fleet Management have been working together since
1993 in the United States. Leveraging the Canadian fueling locations now
available through WEX’s
acquisition of EFS
, the expanded partnership will deliver WEX
products to Enterprise Fleet Management customers throughout Canada as
well.

“WEX is a global company servicing markets throughout the world. We are
looking forward to this new chapter in our partnership with Enterprise
and the opportunity for us to expand our presence in Canada,” said
Melissa Smith, president and CEO of WEX, Inc. “WEX and Enterprise have a
long, successful history together, and we’re certain that working in
tandem to bring our offering to Canada will prove beneficial to everyone
involved.”

“We’re thrilled to extend our 24-year partnership with WEX into the
Canadian market,” said Brice Adamson, Senior Vice President of
Enterprise Fleet Management. “We have a great history of working
collaboratively with WEX, and we are confident we will see continued
success through this expanded agreement.”

Forward-Looking Statements
This news release contains
forward-looking statements, including statements regarding: the impact
of WEX’s entry into a commercial relationship with Enterprise Fleet
Management to help expand in the Canadian Market and the impact of that
relationship WEX’s and Enterprise’s commercial growth; and, the benefits
of the same to WEX and Enterprise customers. Any statements that are not
statements of historical facts may be deemed to be forward-looking
statements. When used in this new release, the words “may,” “could,”
“anticipate,” “plan,” “continue,” “project,” “intend,” “estimate,”
“believe,” “expect,” 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: the 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 reactions or
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 ability
to successfully integrate the Company’s acquisitions, specifically, the
Electronic Funds Source LLC’s operations and employees; the ability to
realize anticipated synergies and cost savings; unexpected costs,
charges or expenses resulting from an acquisition; the Company’s failure
to successfully operate and expand commercial fuel card programs for its
various customers, including Enterprise; 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 and any
resulting negative impact on our reputation, liabilities or
relationships with customers or merchants; the Company’s failure to
maintain or renew key agreements; failure to expand the Company’s
technological capabilities and service offerings as rapidly as the
Company’s competitors; 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 Company’s outstanding notes on its operations; the impact
of increased leverage on the Company’s operations, results or capacity
generally, and as a result of potential acquisitions specifically;
financial loss if the Company determines it necessary to unwind any
derivative instrument positions prior to the expiration of a contract;
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 on Form 10-K for the year ended December 31,
2015, filed on February 26, 2016, and Item 1.A. of Part II of the
quarterly report on Form 10-Q filed on April 28, 2016, both with the
Securities and Exchange Commission. The Company’s forward-looking
statements do not reflect the potential future impact of any alliance,
merger, acquisition, disposition or stock repurchases, other than the
acquisition. The forward-looking statements speak only as of the date of
this news release 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.

About WEX Inc.
WEX Inc. (NYSE: WEX) is a leading provider of
corporate payment solutions. From its roots in fleet card payments
beginning in 1983, WEX has expanded the scope of its business into a
multi-channel provider of corporate payment solutions representing
approximately 10 million vehicles and offering exceptional payment
security and control across a wide spectrum of business sectors. WEX
serves a global set of customers and partners through its operations
around the world, with offices in the United States, Australia, New
Zealand, Brazil, the United Kingdom, Italy, France, Germany, Norway and
Singapore. WEX and its subsidiaries employ more than 2,500 associates.
The company has been publicly traded since 2005, and is listed on the
New York Stock Exchange under the ticker symbol “WEX.” For more
information, visit www.wexinc.com
and follow WEX on Twitter at @WEXIncNews.

About WEX Subsidiary EFS
WEX acquired the EFS fleet business
in July of 2016.

About Enterprise Fleet Management
Owned by the Taylor family
of St. Louis, Enterprise
Fleet Management
supplies most makes and models of cars, light- and
medium-duty trucks and service vehicles across North America. The
business provides full-service management for companies, government
agencies and organizations operating medium-sized fleets of 20 or more
vehicles, as well as those seeking an alternative to employee
reimbursement programs. Enterprise Fleet Management operates a network
of more than 50 fully-staffed offices, which manages more than 430,000
vehicles in the U.S. and Canada. The company also has been recognized
with the Automotive Service Excellence “Blue Seal of Excellence” award
for 20 consecutive years, an industry record.

Enterprise Fleet Management and its affiliate, Enterprise Holdings,
together offer a total transportation solution. Through an integrated
global network of independent regional subsidiaries and franchises,
Enterprise Holdings operates more than 9,600 fully staffed neighborhood
and airport branch offices worldwide. Combined, these businesses, which
include car rental and car-sharing services, truck rental, corporate
fleet management and retail car sales, accounted for more than $20.9
billion in revenue and operated nearly 1.9 million vehicles throughout
the world in fiscal year 2016.

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