Corpay Inc at RBC Capital Markets FinTech Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Matt Roswell - RBC Capital Markets - Analyst : He's been known as Fleetcor and that's actually my first question. (multiple speakers)

Question: Matt Roswell - RBC Capital Markets - Analyst : And moving toward the Brazilian toll business in the vehicle payments. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 11, 2024 / 6:40PM, CPAY.N - Corpay Inc at RBC Capital Markets FinTech Conference

Question: Matt Roswell - RBC Capital Markets - Analyst : Okay.

Question: Matt Roswell - RBC Capital Markets - Analyst : Okay. So in the UK right now, that's commercial client base.

Question: Matt Roswell - RBC Capital Markets - Analyst : And you mentioned electric vehicles. I was going to get into it later but we might jump on now.

Question: Matt Roswell - RBC Capital Markets - Analyst : Why do you think is kind of being delayed here in the US.

Question: Matt Roswell - RBC Capital Markets - Analyst : Since we're talking about the US business and US commercial business, can you talk about the pivoted SMB yet? And then what you're seeing at the enterprise level?

Question: Matt Roswell - RBC Capital Markets - Analyst : (microphone inaccessible) Those micro guys or going back to [oils]?

Question: Matt Roswell - RBC Capital Markets - Analyst : Moving over to Corporate Payments, you mentioned earlier about higher five brands and corporate payments and you're paying down the Corpay. Can you help kind of unpack what's in there as sitting from the outside it seems a bit like a black box.

Question: Matt Roswell - RBC Capital Markets - Analyst : What about it on the other side. Anything on the accounts receivable side?

Question: Matt Roswell - RBC Capital Markets - Analyst : So, on payables, I have to bring it up the lodging business, lodging business struggled a couple of quarters. What's going on?

Question: Matt Roswell - RBC Capital Markets - Analyst : If airlines are 25%, what's the other kind of major verticals?

Question: Matt Roswell - RBC Capital Markets - Analyst : Final question on logic side. You do have a risk with the rooms, meaning you can end up with expense? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 11, 2024 / 6:40PM, CPAY.N - Corpay Inc at RBC Capital Markets FinTech Conference We did not. We actually don't buy the room until it's demanded of us. So we carry no inventory. So I think if you look at some of the OTAs or some of the other players, tangentially in that space, they'll buy a big chunk of rooms, then turn around try to sell them. And so they are risk where that's not the business that we're in. And we're a network business. We're not an inventory management or resale business. So the pressure is all revenue solving.

Question: Matt Roswell - RBC Capital Markets - Analyst : Okay. Just wanted to confirm that. Want to open up for any questions in the room or I can keep going?

Question: Matt Roswell - RBC Capital Markets - Analyst : Circling back to the strategic review, you went through last year. What did you learn and what was kind of the conclusion?

Question: Matt Roswell - RBC Capital Markets - Analyst : How much overlap is there in terms of the clients or technology platforms between the three major businesses?

Question: Matt Roswell - RBC Capital Markets - Analyst : Okay. Well, thank you very much.