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WEX Converting Chevron and Texaco Business Card Customers

Major Oil Companies, Convenience Store Retailers Put Increasing Trust in Payments Pioneer

SOUTH PORTLAND, Maine--(BUSINESS WIRE)--Nov. 28, 2018-- WEX Inc. (NYSE: WEX), a pioneer in corporate payments, and Chevron U.S.A. Inc., the company behind two of North America’s leading fuel brands, announced they have an agreement to bring high-quality card services to Chevron and Texaco Business Card customers.

WEX and Chevron announced the long-term agreement in December 2016. WEX will now commence bringing new Chevron and Texaco Business Cards into the WEX portfolio of branded programs.

Under the agreement, WEX will provide Chevron and Texaco commercial customers a complete range of innovative digital solutions to manage their fleets, including Fleet SmartHub, WEXOnline, Fleet DriverDash and more.

Additionally, WEX provides Chevron a comprehensive sales and marketing program, manages card distribution and related payment services for its brands, and supports the efforts of local Chevron and Texaco marketers and retailers through a network of nearly 8,000 branded retail locations in the United States.

WEX built and operates a proprietary closed-loop payment network that offers fleets optimal cost controls and helps branded fuel partners grow their customer loyalty. The company now powers commercial and consumer fueling card programs for most major U.S. fuel brands, and for all 10 of the Top 10 U.S. convenience store brands by market share, with several signing long-term agreements with WEX in the past 18 months.

“We’re excited to add the world-recognized Chevron and Texaco brands to the WEX commercial fleet card portfolio,” WEX Global Fleet President Scott Phillips said. “The agreement shows the tremendous trust that industry places in WEX, underscores our commitment to growth in the North American fleet market, and offers Chevron and Texaco fleet customers a robust, custom card program developed in long-term partnership with the industry.”

“Chevron strives to deliver consistently excellent service to the growing number of large fleets and we are excited to work with a company like WEX that shares our values,” said Gilson Ribeiro, Chevron’s General Manager of Americas Marketing Sales and Service. “We’ll be working hard alongside WEX to ensure customers that rely on our cards experience a smooth transition.”

In 2017, Chevron extended its WEX relationship globally, signing the company to develop, support and manage its fuel card processing portfolio in Singapore, Hong Kong, Malaysia, Thailand and the Philippines.

About WEX
Powered by the belief that complex payment systems can be made simple, WEX Inc. (NYSE: WEX) is a leading provider of payment processing and business solutions across a wide spectrum of sectors, including fleet, travel and healthcare. WEX operates in more than 10 countries and in more than 20 currencies through more than 3,500 associates around the world. WEX fleet cards offer 11.5 million vehicles exceptional payment security and control; purchase volume in its travel and corporate solutions segment grew to $30.3 billion in 2017; and the WEX Health financial technology platform helps 300,000 employers and more than 25 million consumers better manage healthcare expenses. For more information, visit www.wexinc.com.

About Chevron

Chevron Corporation is one of the world's leading integrated energy companies. Through its subsidiaries that conduct business worldwide, the company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemicals and additives; generates power; and develops and deploys technologies that enhance business value in every aspect of the company's operations. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.

Source: WEX Inc.

WEX:
Rob Gould
Robert.Gould@wexinc.com
(207) 523-7400

Chevron:
Braden Reddall
(925) 842 2209

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding WEX Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.

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