World Kinect Corporation Completes Sale of the Avinode Group and Portfolio of Aviation Software Products

World Kinect Corporation (NYSE: WKC) announced today it has completed the sale of the Avinode Group, the world’s leading air charter sourcing platform, and its portfolio of aviation FBO software products to CAMP Systems International, Inc., a wholly-owned subsidiary of Hearst.

World Kinect received gross cash proceeds at closing of approximately $200 million, and expects to report a one-time after-tax gain of approximately $75-80 million in the second quarter.

“We are pleased to close on this strategic sale – another example of our efforts to sharpen our portfolio,” said Ira M. Birns, Executive Vice President and Chief Financial Officer. “In the short-term, this transaction provides us with liquidity to reduce our annual run-rate of interest expense by approximately $10 million and, longer-term, the transaction provides additional capital to invest in synergistic opportunities in our core business.”

About World Kinect Corporation

Headquartered in Miami, Florida, World Kinect Corporation (NYSE: WKC) is a global energy management company offering fulfillment and related services to more than 150,000 customers across the aviation, marine, and land-based transportation sectors. We also supply natural gas and power in the United States and Europe along with a growing suite of other sustainability-related products and services.

For more information, visit www.world-kinect.com.

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