<SEC-DOCUMENT>0001157523-16-005944.txt : 20160623
<SEC-HEADER>0001157523-16-005944.hdr.sgml : 20160623
<ACCEPTANCE-DATETIME>20160623080526
ACCESSION NUMBER:		0001157523-16-005944
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20160623
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160623
DATE AS OF CHANGE:		20160623

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WORLD FUEL SERVICES CORP
		CENTRAL INDEX KEY:			0000789460
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-PETROLEUM & PETROLEUM PRODUCTS (NO BULK STATIONS) [5172]
		IRS NUMBER:				592459427
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09533
		FILM NUMBER:		161727605

	BUSINESS ADDRESS:	
		STREET 1:		9800 N.W. 41ST STREET
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33178
		BUSINESS PHONE:		305-428-8000

	MAIL ADDRESS:	
		STREET 1:		9800 N.W. 41ST STREET
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33178

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERNATIONAL RECOVERY CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51367785.htm
<DESCRIPTION>WORLD FUEL SERVICES CORPORATION 8-K
<TEXT>
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    <p style="text-align: center">
      <br>
      <font style="font-size: 18pt; font-family: Times New Roman"><b>UNITED
      STATES</b></font><font style="font-size: 18pt"><br style="font-size: 18pt"></font><font style="font-size: 18pt; font-family: Times New Roman"><b>SECURITIES
      AND EXCHANGE COMMISSION</b></font><br><font style="font-size: 12pt; font-family: Times New Roman"><b>WASHINGTON,
      D.C. 20549</b></font><br>
    </p>
    <hr style="width: 20%; color: #000000; text-align: center; height: 1.0 pt">


    <p style="text-align: center">
      <font style="font-size: 18pt; font-family: Times New Roman"><b>FORM 8-K</b></font><br>
    </p>
    <hr style="width: 20%; color: #000000; text-align: center; height: 1.0 pt">


    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>CURRENT
      REPORT</b></font><font style="font-size: 12pt; font-family: Times New Roman"><br style="font-size: 12pt; font-family: Times New Roman"></font><font style="font-size: 12pt; font-family: Times New Roman"><br style="font-size: 12pt; font-family: Times New Roman"></font><font style="font-size: 12pt; font-family: Times New Roman"><b>PURSUANT
      TO SECTION 13 OR 15(d) OF</b></font><font style="font-size: 12pt; font-family: Times New Roman"><br style="font-size: 12pt; font-family: Times New Roman"></font><font style="font-size: 12pt; font-family: Times New Roman"><br style="font-size: 12pt; font-family: Times New Roman"></font><font style="font-size: 12pt; font-family: Times New Roman"><b>THE
      SECURITIES EXCHANGE ACT OF 1934</b></font><br><br><font style="font-size: 10pt; font-family: Times New Roman"><b>Date
      of Report (Date of earliest event reported): &#160;June 23, 2016</b></font><br>
    </p>
    <hr style="width: 20%; color: #000000; text-align: center; height: 1.0 pt">


    <p style="text-align: center">
      <font style="font-size: 20pt; font-family: Times New Roman"><b>WORLD
      FUEL SERVICES CORPORATION</b></font><font style="font-size: 12pt; font-family: Times New Roman"><br style="font-size: 12pt; font-family: Times New Roman"></font><font style="font-size: 10pt; font-family: Times New Roman">(Exact
      name of registrant as specified in its charter)</font><br>
    </p>
    <hr style="width: 20%; color: #000000; text-align: center; height: 1.0 pt">


    <p style="text-align: center">

    </p>
    <div style="text-align:center">
    <table style="margin-bottom: 10.0px; font-size: 10pt; width: 100%; font-family: Times New Roman; margin-left:auto;margin-right:auto" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; width: 33%; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Florida</b>
          </p>
        </td>
        <td style="padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; width: 34%; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>1-9533</b>
          </p>
        </td>
        <td style="padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; width: 33%; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>59-2459427</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; width: 33%; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(State or other jurisdiction of</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>incorporation)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 34%; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(Commission File Number)</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 33%; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(I.R.S. Employer</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Identification No.)</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>
      <br>

    </p>
    <div style="text-align:center">
    <table style="margin-bottom: 10.0px; font-size: 10pt; width: 100%; font-family: Times New Roman; margin-left:auto;margin-right:auto" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; width: 50%; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>9800 N.W. 41<sup>st</sup> Street</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Miami, Florida</b>
          </p>
        </td>
        <td style="padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; width: 50%; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>33178</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; width: 50%; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman"><b>(Address
            of principal executive offices)</b></font>
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 50%; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman"><b>(Zip
            Code)</b></font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>
      <font style="font-size: 10pt"><b>Registrant&#8217;s telephone number,
      including area code: (305) 428-8000</b></font><br>
    </p>
    <hr style="width: 20%; color: #000000; text-align: center; height: 1.0 pt">


    <p style="text-align: center">

    </p>
    <p style="font-size: 10pt; font-family: Times New Roman">
      <font style="font-size: 10pt; font-family: Times New Roman">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p style="font-size: 10pt; font-family: Times New Roman">
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p style="font-size: 10pt; font-family: Times New Roman">
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p style="font-size: 10pt; font-family: Times New Roman">
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p style="font-size: 10pt; font-family: Times New Roman">
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font><br>
    </p>
    <p style="font-size: 10pt; margin-left: 30.0px; font-family: Times New Roman">

    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; font-size: 10pt; width: 100%; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="margin-bottom: 10pt; margin-right: 0pt; text-indent: 0pt; width: 100%; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Item 7.01. Regulation FD Disclosure</b>
    </p>
    <p style="text-align: justify">
      &#160;&#160;&#160;&#160;&#160;World Fuel Services Corporation announced today that a wholly-owned
      subsidiary of the company has signed definitive agreements to acquire
      two U.S. land fuel distributors, PAPCO, Inc. and Associated Petroleum
      Products, Inc. A copy of the press release is attached hereto as Exhibit
      99.1.
    </p>
    <p style="text-align: justify">
      &#160;&#160;&#160;&#160;&#160;This information and the information contained in Exhibit 99.1
      shall not be deemed &#8220;filed&#8221; for purposes of Section 18 of the Securities
      Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), or incorporated
      by reference in any filing under the Securities Act of 1933, as amended,
      or the Exchange Act, except as may be expressly set forth by specific
      reference in any such filing.&#160;
    </p>
    <p style="white-space: nowrap">
      <b>Item 9.01.&#160;&#160;Financial Statements and Exhibits</b>
    </p>
    <p style="white-space: nowrap">
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(d) &#160;&#160;&#160;&#160;&#160;&#160;Exhibits
    </p>
    <p style="white-space: nowrap">
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u><b>Exhibit
      No.</b></u><b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Description</u></b><br>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;99.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Press
      Release, dated June 23, 2016.
    </p>
    <div style="margin-bottom: 10pt; margin-right: 0pt; text-indent: 0pt; width: 100%; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
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        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>SIGNATURES</b></font><br>
    </p>
    <p style="text-indent: 30.0px; text-align: left">
      <font style="font-size: 10pt; font-family: Times New Roman">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned, thereunto duly authorized.</font>
    </p>
    <p style="text-align: left">

    </p>
    <div style="text-align:center">
    <table style="margin-bottom: 10.0px; font-size: 10pt; width: 100%; font-family: Times New Roman; margin-left:auto;margin-right:auto" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; width: 5%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Date:
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 45%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            June 23, 2016
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="3" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>World Fuel Services Corporation</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="padding-left: 0.0px; width: 3%; text-align: left" valign="top">
          &#160;
        </td>
        <td style="width: 40%">

        </td>
        <td style="width: 7%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; width: 40%; border-bottom-style: solid; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ R. Alexander Lake
          </p>
        </td>
        <td style="width: 7%">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; width: 5%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 45%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 3%">

        </td>
        <td style="padding-left: 0.0px; width: 40%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            R. Alexander Lake
          </p>
        </td>
        <td style="width: 7%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Senior Vice President, General Counsel and<br>Corporate Secretary
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; margin-right: 0pt; text-indent: 0pt; width: 100%; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      EXHIBIT INDEX<br><br>
    </p>
    <div style="text-align:center">
    <table style="margin-bottom: 10.0px; font-size: 10pt; width: 100%; font-family: Times New Roman; margin-left:auto;margin-right:auto" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; width: 15%; border-bottom-style: solid; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Exhibit
          </p>
        </td>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; width: 10%; text-align: left" valign="top">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; width: 75%; border-bottom-style: solid; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Description
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; width: 15%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            99.1
          </p>
        </td>
        <td style="width: 10%">

        </td>
        <td style="padding-left: 0.0px; width: 75%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Press Release, dated June 23, 2016.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51367785-ex991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
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  <body style="font-size: 8pt; font-family: Times New Roman">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>World
      Fuel Services Corporation to Acquire PAPCO, Inc. and Associated
      Petroleum Products, Inc.</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>Will
      Expand Commercial and Industrial Distribution Platform in the Land
      Segment</b></font>
    </p>
    <p>
      MIAMI--(BUSINESS WIRE)--June 23, 2016--World Fuel Services Corporation
      (NYSE: INT), today announced that a wholly-owned subsidiary of the
      company has signed definitive agreements to acquire two U.S. land fuel
      distributors: PAPCO, Inc. (&#8220;PAPCO&#8221;), which services retail, commercial
      and industrial customers with fuel, price-risk management products, and
      fleet card solutions throughout the Mid-Atlantic region of the United
      States and Associated Petroleum Products, Inc. (&#8220;APP&#8221;), which provides
      fuel and related services to agricultural, automotive, construction, and
      commercial and industrial customers in the Pacific Northwest. The
      aggregate purchase price for both companies will be approximately $230
      million and will be funded through the company&#8217;s existing credit
      facilities.
    </p>
    <p>
      PAPCO is headquartered in Virginia Beach, VA, with 150 employees and
      2015 revenue of $1 billion and APP is headquartered in Tacoma, WA, with
      275 employees and 2015 revenue of $600 million. Both are leading
      distributors of gasoline, diesel, lubricants, propane and related
      services in their respective regions.
    </p>
    <p>
      &#8220;The acquisitions of PAPCO and APP significantly expand our geographic
      reach and supply and distribution capabilities, while further
      strengthening our commercial and industrial distribution platform in the
      United States,&#8221; stated Michael J. Kasbar, chairman and chief executive
      officer of World Fuel Services Corporation. &#8220;We look forward to
      welcoming the PAPCO and APP teams to the World Fuel Services
      organization.&#8221;
    </p>
    <p>
      &#8220;We are pleased to have these two industry-leading companies,
      established management teams and enthusiastic employees, join World
      Fuel. This transaction expands our extensive supply relationships and
      product offerings as we continue to grow our diversified business,&#8221; said
      Michael Crosby, executive vice president, global land for World Fuel
      Services Corporation.
    </p>
    <p>
      Excluding the impact of one-time acquisition related expenses and
      amortization of acquired intangible assets of approximately $4 million
      and $9 million respectively, the transactions are expected to be $0.22
      to $0.26 accretive to earnings on a Non-GAAP basis in the first twelve
      months.
    </p>
    <p>
      The transactions are subject to customary closing conditions and are
      expected to be completed within the next 45 days.
    </p>
    <div style="margin-right: 0pt; margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <u>Non-GAAP Financial Measures</u>
    </p>
    <p>
      This press release includes selected financial information that has not
      been prepared in accordance with accounting principles generally
      accepted in the United States (&#8220;GAAP&#8221;). Specifically, we have used
      non-GAAP accretion to earnings per share, which excludes one-time
      acquisition-related expenses and amortization of acquired intangible
      assets, primarily because we do not believe they are reflective of the
      company&#8217;s core operating results. We believe that this non-GAAP
      financial measure, when considered in conjunction with our financial
      information prepared in accordance with GAAP, is useful to investors to
      further aid in evaluating the ongoing financial performance of the
      Company and to provide greater transparency as supplemental information
      to our GAAP results. Non-GAAP financial measures should not be
      considered in isolation from, or as a substitute for, financial
      information prepared in accordance with GAAP. In addition, our
      presentation of non-GAAP accretion may not be comparable to the
      presentation of such metric by other companies. Investors are encouraged
      to review the reconciliation of this non-GAAP measure to its most
      directly comparable GAAP financial measure contained in this press
      release.
    </p>
    <p>
      <u>Information Relating to Forward-Looking Statements</u>
    </p>
    <p>
      This release includes forward-looking statements within the meaning of
      the Private Securities Litigation Reform Act of 1995, including
      statements regarding our expectations about the effect of the
      acquisitions on our land segment, our geographic reach and distribution
      capabilities, the expansion of supply relationships and product
      offerings and the effect of the transaction on our earnings, as well as
      our expectations about the timing for closing and funding of the
      purchase price. These forward-looking statements are qualified in their
      entirety by cautionary statements and risk factor disclosures contained
      in the company&#8217;s Securities and Exchange Commission (&#8220;SEC&#8221;) filings,
      including the company&#8217;s Annual Report on Form 10-K filed with the SEC on
      February 16, 2016. Actual results may differ materially from any
      forward-looking statements due to risks and uncertainties, including,
      but not limited to: our ability to obtain required consents and satisfy
      closing conditions, our ability to effectively integrate and derive
      benefits from the acquisitions, our ability to capitalize on new market
      opportunities, potential liabilities, limited indemnities and the extent
      of any insurance coverage, the outcome of pending litigation and other
      proceedings, the impact of quarterly fluctuations in results, the
      creditworthiness of our customers and counterparties and our ability to
      collect accounts receivable, environmental and other risks associated
      with the storage, transportation and delivery of petroleum products, our
      failure to effectively hedge certain financial risks associated with the
      use of derivatives, non-performance by counterparties or customers on
      derivatives contracts, loss of, or reduced sales, to a significant
      government customer, uninsured losses, the failure of fuel and other
      products we sell to meet specifications, fluctuations in world oil
      prices or foreign currency, changes in political, economic, regulatory,
      or environmental conditions, adverse conditions in the markets or
      industries in which we or our customers and suppliers operate, the
      impact of natural disasters, adverse results in legal disputes,
      unanticipated tax liabilities, our ability to retain and attract senior
      management and other key employees and other risks detailed from time to
      time in the company&#8217;s SEC filings. New risks emerge from time to time
      and it is not possible for management to predict all such risk factors
      or to assess the impact of such risks on our business. Accordingly, we
      undertake no obligation to publicly update or revise any forward-looking
      statements, whether as a result of new information, changes in
      expectations, future events, or otherwise.
    </p>
    <p>
      <u>About World Fuel Services Corporation</u>
    </p>
    <p>
      Headquartered in Miami, Florida, World Fuel Services is a global fuel
      logistics, transaction management and payment processing company,
      principally engaged in the distribution of fuel and related products and
      services in the aviation, marine and land transportation industries.
      World Fuel Services sells fuel and delivers services to its clients at
      more than 8,000 locations in more than 200 countries and territories
      worldwide.
    </p>
    <p>
      The company's global team of market makers provides deep domain
      expertise in all aspects of aviation, marine and land fuel management.
      Aviation customers include commercial airlines, cargo carriers, private
      aircraft and fixed base operators (FBOs), as well as the United States
      and foreign governments. World Fuel Services' marine customers include
      international container and tanker fleets, cruise lines and time-charter
      operators, as well as the United States and foreign governments. Land
      customers include petroleum distributors, retail petroleum operators,
      and industrial, commercial, residential and government accounts. The
      company also offers transaction management services which consist of
      card payment solutions and merchant processing services to customers in
      the aviation, marine and land transportation industries. For more
      information, call 305-428-8000 or visit <u>www.wfscorp.com</u>.
    </p>
    <p>

    </p>
    <p>
      CONTACT:<br>World Fuel Services Corporation<br>Ira M. Birns, 305-428-8000<br>Executive
      Vice President &amp; Chief Financial Officer<br>or<br>Glenn Klevitz,
      305-428-8000<br>Vice President, Assistant Treasurer
    </p>
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