Company: WKC
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0000950170-25-058752
Chunk: 38

Company: WORLD KINECT CORP
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 38
---
 |    |   |     | Payout % |    |   |
| Adjusted EBITDA   
 (% of Target)     |     | $350.0M (85%) |     | $412.0M (100%) |     | $480.0M (117%) |     | $361.5M    |     |                | 88 | % |     |        | 52 | % |     | $368.0M                   |     |                | 89 | % |     |          | 58 | % |

1. Represents adjusted EBITDA, as reported by the Company in its earnings release for year ended December 31, 2024 furnished to the SEC with our Form 8-K on February 20, 2025. Please refer to such Form 8-K for the detailed calculation of adjusted EBITDA. For 2024, adjusted EBITDA is defined as net income (loss) including noncontrolling interest and excluding the impact of interest, income taxes, and depreciation and amortization, in addition to acquisition and divestiture related expenses, costs associated with restructuring activities (including all costs associated with exit activities), impairments, gains or losses on sale of businesses, integration costs, non-operating legal settlements, and costs associated with the Finnish bid error. Other than for the Avinode sale, the Compensation Committee did not make any additional discretionary adjustments to adjusted EBITDA performance for 2024. Strategic Objec tives Performance Assessment The Compensation Committee also rewards NEOs based on their achievement against strategic objectives (pre-established objectives that support key strategic and operational areas of focus). The cash amount payable for strategic objectives in 2024 represents 25% of the target AIP award for each NEO (reduced from 40% in 2023) and cannot exceed that amount.

| World Kinect 2025 Proxy Statement | 53 |

| Compensation Discussion and Analysis |

For 2024, the Compensation Committee, in consultation with the NEOs, established three strategic objective categories that applied to all NEOs—Portfolio, People and Process. Within each category, individual weightings were assigned to each objective (and sub-objective, as applicable), adding up to 25% in total (equal to the proportion of target AIP award). The weighting for each category was determined by the Compensation Committee based on their assessment of the overall importance and contribution of the objective to Company performance:

| Category  |     | Weighting    
 (% of Target 
 AIP