World Fuel Services Announces Name Change to World Kinect

Rhea-AI Summary

World Fuel Services Corporation changes its name to World Kinect Corporation, reflecting its transformation into a diversified energy and solutions provider. The company will begin trading under the new ticker symbol 'WKC' on June 16, 2023.

Positive

• The name change reflects the company's commitment to evolving alongside customers in the energy transition.
• World Kinect aims to meet customers' growing energy transition needs with an expanding portfolio of products and services.

Negative

• None.

Reflects Company’s Ongoing Transformation into a Diversified Energy and Solutions Provider

Company will begin trading under new name and ticker symbol “WKC,” effective June 16, 2023

MIAMI--(BUSINESS WIRE)-- World Fuel Services Corporation (NYSE:INT) (“Company”) today announced it has changed its corporate name to World Kinect Corporation.

The Company’s shareholders approved the name change during today’s Annual Meeting. The Company will begin trading under its new name and ticker symbol (NYSE: WKC) effective tomorrow, June 16, 2023.

This change is intended to better reflect the Company’s ongoing transformation into a more resilient, diversified energy and solutions provider. As the energy transition unfolds, this name change reflects our commitment to continue evolving alongside our customers. We will support their core energy requirements, while also meeting their growing energy transition needs with an expanding portfolio of products and services, empowering them to navigate their sustainability journeys most successfully.

“For nearly 40 years we have been dedicated to providing a comprehensive and reliable supply of energy, logistics and finance solutions for aviation, marine and land-based customers worldwide,” said Michael J. Kasbar, Chairman and Chief Executive Officer. “Through our relationships with more than 150,000 customers globally, we are uniquely positioned to understand their operational requirements and provide innovative products, services and digital solutions to meet their evolving needs. Our new name, World Kinect, represents our role as a bridge, connecting our customers to the resources, expertise and support they need to successfully navigate their energy transition journeys.”

Company executives will ring the New York Stock Exchange closing bell today to celebrate this occasion. The Company will discuss this name change and broader corporate strategy at a forthcoming Investor Day event. Further details will be provided shortly.

About World Kinect Corporation

Headquartered in Miami, Florida, World Kinect Corporation is a leading global energy management company, offering a broad suite of energy advisory, management and fulfillment services, digital and other technology solutions, as well as sustainability products and services across the energy product spectrum. In addition to our core energy offerings to customers in the transportation sector, we have expanded our product and service offerings to include energy advisory services, sustainability and renewable energy solutions, as well as supply fulfillment for natural gas and power. We continue to focus on advancing the energy transition to lower carbon alternatives through expanding our portfolio of energy solutions and providing customers with greater access to sustainably sourced energy.

For more information, visit corp.worldkinect.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20230614389089/en/

Ira M. Birns

Executive Vice President & Chief Financial Officer

Elsa Ballard

Vice President of Investor Relations

investor@worldkinect.com

Source: World Kinect Corporation

FAQ

What is the new name of World Fuel Services Corporation?

The new name is World Kinect Corporation.

When will the company begin trading under the new ticker symbol?

The company will begin trading under the ticker symbol 'WKC' on June 16, 2023.

What does the name change reflect?

The name change reflects the company's ongoing transformation into a diversified energy and solutions provider.

What will World Kinect focus on?

World Kinect aims to support customers' core energy requirements and meet their growing energy transition needs.