.eepe vs .bin

[csquared]

I am running 2.0.6 on a FrSky Taranis and Companion 2.0.6
I notice that when I save my models and settings in Companion a .eepe file is written.
(the options are .eepe .bin and .hex)
When I back up my models and settings on my Taranis a .bin file is written.
Companion seems to work with any one of these formats.
The Taranis bootloader only seems to recognize the .bin files.
Is there an advantage to just working with .bin files in both the Companion and the Taranis?

[csquared]

I also notice that the eepe and hex files are the same size.
Are they identical files?(are they both hexadecimal formats?)
The bin file is less than half the size of the other two.
Interesting.