#1#2Fiscal First Quarter 2022 Results YOY Increase/ (Decrease) GAAP Nominal-Dollar Basis Non-GAAP Nominal-Dollar Basis(1) Foreign Currency Impact Acquisition Impact Adjusted Constant-Dollar Basis (2) (1) Net Revenues VISA 24% Fiscal First Quarter 2022 Financial Results ~1% ~0% 25% Note: Refer to Non-GAAP and Adjusted Constant-Dollar Results Footnote for further information. Client Incentives as a % of Gross Revenues 25.1% 0.1% 25.2% Operating Expenses 24% 16% ~0% ~0% 16% Effective Income Tax Rate 19.1% 19.3% 0% 19.3% Diluted Class A Common Stock Earnings Per Share 29% 27% -1.5% Non-GAAP results exclude a special item, equity investment gains and losses, amortization of acquired intangible assets for acquisitions in fiscal year 2019 and subsequent periods, non-recurring acquisition-related costs and the related tax impacts. Adjusted financial results are on a constant-dollar basis and exclude the impact of the non-GAAP items and operating revenues and expenses of the acquired entities that were not in the entire quarter of the previous year and the incremental interest expense or forgone interest income as a result of funding the acquisition through debt or cash, respectively. -0% 29% Ⓒ2022 Visa. All rights reserved. 1#3Non-GAAP and Adjusted Constant-Dollar Results Footnote We consider non-GAAP measures useful to investors because they provide greater transparency into management's view and assessment of the Company's ongoing operating performance by removing items management believes are not representative of our continuing operations, as they may be non-recurring or have no cash impact, and may distort our nger-term operating trends. We believe these easures to be useful to enhance the comparability of our results from period to period and with our competitors, as well as to show ongoing results from operations distinct from items that are infrequent or not associated with the Company's core operations. The Company does not, nor does it suggest investors should, consider such non-GAAP financial measures in isolation from, or as a substitute for, GAAP financial information. We exclude the following to arrive at our Adjusted Constant-Dollar Financial Results: non-GAAP impacts of (refer to the financial tables in the earnings release for further details): special item(s); equity investment gains and losses; ● ● ■ amortization of acquired intangible assets for acquisitions in fiscal year 2019 and subsequent periods; non-recurring acquisition-related costs; impact of foreign currency to provide currency-neutral growth rates which management believes are a better reflection of the underlying performance of our business; and ■ impact of acquisitions, which include operating revenues and expenses of the acquired entities that were not in the entire quarter of the previous year and the incremental interest expense or forgone interest income as a result of funding the acquisition through debt or cash, respectively, which management believes enhances the comparability of our results. These amounts will be adjusted until we lap the quarter that the entity was acquired in, at which time there will be comparable results within each reported period. VISA Fiscal First Quarter 2022 Financial Results Ⓒ2022 Visa. All rights reserved. 2#4Fiscal First Quarter 2022 Results ● ● ● Payments volume, cross-border volume and processed transaction growth all accelerated versus the prior quarter Returned $4.9B of capital to shareholders in the form of share repurchases and dividends In December, the board of directors authorized a new $12.0 billion share repurchase program Income Statement Summary % Change In billions, except percentages and per share data. % change is calculated over the comparable prior-year period. Net Revenues 24% GAAP Net Income 27% 29% GAAP Earnings Per Share Non-GAAP Net Income(¹) 25% Non-GAAP Earnings Per Share(¹) 27% (1) Non-GAAP results exclude a special item, equity investment gains and losses, amortization of acquired intangible assets, non-recurring acquisition-related costs and the related tax impacts. Key Business Drivers YoY increase / (decrease), volume in constant dollars Payments Volume Cross-Border Volume Excluding Intra-Europe(¹) Cross-Border Volume Total Processed Transactions (1) Cross-border volume excluding transactions within Europe. VISA Fiscal First Quarter 2022 Financial Results USD $7.1 $4.0 $1.83 $3.9 $1.81 Q1 2022 Q1 2022 20% 51% 40% 21% Ⓒ2022 Visa. All rights reserved. 3#5#6Operational Performance Metrics Monthly Index vs. 2019 2021 and 2022 results are indexed to the corresponding period in 2019, with a baseline of 100 180 170 160 150 140 130 120 110 100 90 Total Credit 2021 2022 U.S. Payments Volume Index vs. 2019 Debit Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan 1-21 180 170 160 150 140 130 120 110 100 90 Total Jan Feb Note: In 2022, the volume and transactions as a percentage of 2019 reflect a comparison to three years ago vs. a two year comparison in 2021. Refer to Operational Performance Data footnote for further information on these metrics. Fiscal First Quarter 2022 Financial Results VISA Card Present Card Not Present Mar Apr May Jun Jul Aug Card Not Present, Excluding Travel Sep Oct Nov Dec Jan 1-21 Ⓒ2022 Visa. All rights reserved. 5#7Operational Performance Metrics Monthly Growth 60% 50% 40% 30% 20% 10% 0% 2021 2022 Processed Transactions Growth Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Note: February growth rate would have been 2% in 2021 if the impact of February 29, 2020 was excluded. Results are calculated over the comparable prior-year period. Refer to Operational Performance Data footnote for further information on these metrics. Fiscal First Quarter 2022 Financial Results VISA Jan 1-21 Ⓒ2022 Visa. All rights reserved. 6#8#9#10#11#12#13#14#15#16#17#18#19#20