World Kinect Corporation Announces Board Leadership Transition

Michael J. Kasbar will step down as Executive Chairman of World Kinect Corporation effective December 31, 2026. Ken Bakshi has been appointed as the independent chair of the Board, also effective December 31, 2026. Kasbar, a co-founder of the company, will continue to serve as a member of the Board. His departure as Executive Chairman is not due to any disagreements with the company. Bakshi, who has been on the Board since 2002, brings extensive executive leadership, investing, and advisory experience. The company press release regarding this leadership transition is attached as Exhibit 99.1. This change is part of the company's ongoing evolution and leadership succession planning.