How Innovations in Payments Ecosystem

Impacts Consumer Behavior

Mark CoffeyEVP - Head of Strategic Partnerships,

GasBuddy

THE #3 TRAVEL APP 1. Yelp

2. Uber

3. s

4. TripAdvisor

5. Lyft

6. Fly Delta

7. United Airlines

8. American Airlines

9. AT&T Global Wi-Fi

10. Southwest Airlines

Source: App Annie2

12mm

Monthly Active

Users

16.5mm

Marketable Emails

>85mm

Lifetime Downloads

“When it’s time to

refuel, you’ll be

happy to have

GasBuddy on your

phone.”

GASBUDDY NAMED TOP TRAVEL APP OF 2018 & 2019PC Magazine recognizes GasBuddy as a best travel app of 2018 & 2019

Source: PC Magazine, August 2019

3

PAYMENT AS INNOVATION

2000 2005 2010 2016 2017 TODAY

GasBuddy is

Founded

First Office

Opened in

Regina, Canada

GasBuddy

App

Launched

Boston Headquarters

Established

GasBuddy Launches

Business Pages and

Pay with GasBuddy

Organic growth to 12M monthly active users

Insights into 157,000+ fuel/convenience retailers across the U.S. and

Canada

TODAY

4

20-Year-Old Business

• GasBuddy was founded in April 2000

• GasBuddy had been a simple but powerful utility, empowering drivers by showing them where the cheapest gas was based on their current location

• As one of the most successful crowdsourced apps, GasBuddy fuel price data has been the primary data source in the US

5

With 2 million

crowd sourced

price reports a

day, GasBuddy is

the primary source

of retail fuel prices

in the US &

Canada

Access to a scaled

audience with 12M

MAU’s generating

over 44 million

users session per

month

Monetization is

focused on

impression based

digital banner ad

market

Legacy Utility - Unlocked Potential

AdsAudienceUtility

6

Source: NACS, Digital Commerce 360

Fuel & Convenience Retailer Market

50% bigger than U.S. E-Commerce

$600BConvenience &

Fuel Retail

market

$395BE-Commerce

market

7

The Opportunity

8

The Opportunity

GasBuddy aimed to transform its

business from a fuel price utility with a

large base of users to a transactional

platform of registered customers through

payment as an innovation, influencing an

increasing consumer spend directly and

indirectly through the new GasBuddy

platform.

Drivers who purchase fuel at one

brand

Drivers who purchase fuel at

multiple brands

Large, But Largely Brand Agnostic Market

9

80%+ Drivers

Brand Agnostic

81%

19%

Debit Card

Credit Card

Cash

I don’t Pay for Gasoline

Other

Mobile Pay

How We’re Paying for Gasoline

10

42%

*Survey with 1,016 responses from GasBuddy’s 2019 Consumer Sentiment study, Jan 2019

36%

13%

1%

5% 3%

1%

The Obstacles

• Not payments for the sake of payments

• How would we fund that discount?

• Acceptance

• Mobile payments vs. Card

A Path to Payments

GasBuddy uses Plaid

to verify that our users

are linking an active

bank account and that

we are able to transact

with them

12

GasBuddy uses

Dwolla, to securely

connect bank and

credit union accounts

to facilitate payments

Pay with GasBuddy

runs on the WEX

payment rails at 95%

of gas stations

The Risks

• Building a consumer based product (B2C) on top of a Fleet product (B2B)

• As an ACH program, how will we protect ourselves from fraud (NSF)?

• Mobile Payments have been very slow to gain traction in the US

• Merchant data quality

• Idempotency

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● Pay with GasBuddy® is the first-of-its kind

gasoline savings program giving U.S. drivers a

discount on every gallon of gas they pump

● The program is free to join and gives drivers 5¢

off every fuel purchase

● Pay with GasBuddy® works at 95%+ of stations

nationwide, is completely secure with no credit

application required

Pay with GasBuddy

If we build it, will they come?

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Pay with GasBuddy

Soft Launched September 2017

● 625K+ Enrolled users

● $355M In fuel purchases

● $9.8M In savings passed to users

● 12M+ cardholder transactions

Payments Innovation Pays Off

Mobile Payments at the Pump

17

From Utility Users to Frequent Transactional Customers

18

GASBUDDY APP

Find the Cheapest Gas

PAY WITH GASBUDDY

Never Pay Full Price

for Gas

GASBACK

The Free Gas App

40:1When A User

Becomes A Customer, Everything Changes

• Measured across all user behaviors, when a GasBuddy user becomes a Pay with GasBuddy customer their engagement and value dramatically increases

• 75% of GasBuddy’s membership enrollments come from Pay With GasBuddy users

• More than 80% of GasBuddy’s GasBackearners are Pay with GasBuddy users

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Key Takeaways

● Consumers are brand agnostic at the pump. If you have the ability

to target them with discounts on the way to the pump, it will

influence their decision on where to fuel up.

● Innovation in a fragmented space: think of creative paths to growth

instead of going along with the crowd.

● Payments innovation relies on strong partnerships. Find partners

you can trust and that can scale with you.

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Questions

Mark Coffey

EVP - Head of Strategic Partnerships