#1VISA Fiscal First Quarter 2024 Financial Results January 25, 2024 Ⓒ2024 Visa. All rights reserved.#2Fiscal First Quarter 2024 Results YOY Increase / (Decrease) GAAP Nominal-Dollar Basis Non-GAAP Nominal-Dollar Basis(1) Foreign Currency Impact (²) Acquisition Impact (2) VISA Net Revenues 9% Fiscal First Quarter 2024 Financial Results 9% -0% Adjusted Constant-Dollar Basis(¹) (1) Refer to Non-GAAP Financial Measures within the appendix for further information. (2) Foreign currency and acquisition impacts, if applicable, are rounded to the nearest half point. N/A 9% Operating Expenses (6%) 7% ~1.0% N/A 8% Effective Income Tax Rate 19.1% 19.0% N/A N/A 19.0% Diluted Class A Common Stock Earnings Per Share 20% 11% (-0.5%) N/A 10% Ⓒ2024 Visa. All rights reserved. 1#3Fiscal First Quarter 2024 Results and Other Highlights Payments volume growth and processed transaction growth were relatively stable and cross-border volume growth remained strong Share repurchases and dividends of $4.4B ● Income Statement Summary In billions, except percentages and per share data. % change is calculated over the comparable prior-year period. Net Revenues GAAP Net Income GAAP Earnings Per Share Non-GAAP Net Income(¹) Non-GAAP Earnings Per Share(¹) (1) Refer to Non-GAAP Financial Measures within the appendix for further information. Key Business Drivers YoY increase / (decrease), volume in constant dollars Payments Volume Cross-Border Volume Excluding Intra-Europe (²) Cross-Border Volume Total Processed Transactions (2) Cross-border volume excluding transactions within Europe. VISA Fiscal First Quarter 2024 Financial Results USD $8.6 $4.9 $2.39 $4.9 $2.41 Q1 2024 Q1 2024 8% 16% 16% 9% % Change 9% 17% 20% 8% 11% Ⓒ2024 Visa. All rights reserved. 2#4Operational Performance Metrics through January 21, 2024 2023 2024 U.S. Payments Volume Growth 8% 6% 4% 2% 25% 20% 15% 10% 5% Oct Total Nov Oct Credit Total CP+ CNP Travel (ex. Intra-EU) 2023 2024 Cross-Border Volume Growth Nov Debit Dec Jan 1-21 Total (ex. Intra-EU) CNP, Ex. Travel (ex. Intra-EU) Dec Jan 1-21 12% 10% 8% 6% 4% 2% 200 180 160 140 120 2023 2024 Processed Transactions Growth Oct Nov Total CP+ CNP Travel (ex. Intra-EU) Oct 2023 2024 Cross-Border Volume Index vs. 4 Years Ago Total (ex. Intra-EU) CNP, Ex. Travel (ex. Intra-EU) Dec Nov Dec Jan 1-21 Notes: 1) All figures shown on a constant-dollar basis and growth rates are calculated over the comparable prior year period. Refer to Operational Performance Data Footnote for further information on these metrics. 2) CP denotes Card Present and CNP denotes Card Not Present. 3) The indexed chart reflects a comparison of volume indexed to 2019 (October - December) and 2020 (January). Fiscal First Quarter 2024 Financial Results VISA Jan 1-21 Ⓒ2024 Visa. All rights reserved. 3#5Payments Volume Growth: Visa Nominal Constant 7% 8% Credit Credit 8% 8% 11% Fiscal First Quarter 2024 Financial Results 9% Debit Debit 10% 9% Note: The chart results are calculated over the comparable prior-year period. Refer to Operational Performance Data Footnote for further information on these metrics. VISA 9% 9% Q4 FY2023 Total Total Q1 FY2024 9% 8% Ⓒ2024 Visa. All rights reserved. 4#6Payments Volume Growth: U.S. and International Nominal Constant 6% 6% Credit 6% 6% Credit U.S. 7% 5% Debit 7% 5% Debit 6% Fiscal First Quarter 2024 Financial Results 5% Total 6% 5% Total 8% 9% Credit 11% 11% Credit International 17% 15% Debit 12% 12% Debit 12% 12% Total 12% 11% Total Note: The chart results are calculated over the comparable prior-year period. Refer to Operational Performance Data Footnote for further information on these metrics. VISA 7% 8% Credit 8% 8% Credit Q4 FY2023 Visa 11% 10% Debit 9% 9% Debit Q1 FY2024 9% 9% Total 9% Total ©2024 Visa. All rights reserved. 8% 5#7Transactions and Cross-Border Volume Results Q1 FY2024 10% Total Total Transactions 11% Payments Transaction Count (in millions) Credit 25,763 Debit 48,823 74,587 25,562 44,706 70,268 9% Fiscal First Quarter 2024 Financial Results Processed 57,472 20% Total Nominal Note: The chart results are calculated over the comparable prior-year period. Refer to Operational Performance Data Footnote for further information on these metrics. VISA Cross-Border 16% Total Constant 16% Constant (excluding Intra-Europe) (1) Cross-border volume excluding transactions within Europe. (1) Ⓒ2024 Visa. All rights reserved. 6#8Total Cards (in billions) Q4 FY2023 1.2 Credit 4% 1.3 2.8 Fiscal First Quarter 2024 Financial Results Debit 8% 3.0 Note: The chart results are calculated over the comparable prior-year period. Refer to Operational Performance Data Footnote for further information on these metrics. VISA 4.1 Visa 6% 2022 4.3 2023 Ⓒ2024 Visa. All rights reserved. 7#9Operational Performance Data Footnote Current quarter payments volume and other select metrics are provided in the operational performance data supplement to provide more recent operating data. Service revenues continue to be recognized based on payments volume in the prior quarter. Total transactions represent payments and cash transactions as reported by Visa clients on their operating certificates. Processed transactions represent transactions involving cards and other form factors carrying the Visa, Visa Electron, V PAY, Interlink and PLUS brands processed on Visa's networks. Reported volume, transaction and card information may be updated to reflect revised client submissions or other adjustments. Prior-period updates are not material. Figures may not recalculate exactly due to rounding. Percentage changes and totals are calculated based on unrounded numbers. Constant-dollar growth rates exclude the impact of foreign currency fluctuations against the U.S. dollar in measuring performance. The data no longer includes volumes and transactions for Russia clients starting the three months ended June 30, 2022 and accounts and cards starting the three months ended March 31, 2022. VISA Fiscal First Quarter 2024 Financial Results Ⓒ2024 Visa. All rights reserved. 8#10Revenues Results Q1 FY2024 11% Service Revenues Data Processing Revenues Reported Nominal USD (in millions) $3,915 14% Fiscal First Quarter 2024 Financial Results $4,356 8% International Transaction Revenues $3,019 18% Other Revenues $692 Note: The chart results are calculated over the comparable prior-year period. Percentage changes are calculated based on unrounded numbers. VISA 20% Client Incentives ($3,348) 9% Net Revenues $8,634 Ⓒ2024 Visa. All rights reserved. 9#11Operating Expenses Results Q1 FY2024 11% Personnel (12%) Marketing Reported Nominal USD (in millions) $1,479 $293 1% Fiscal First Quarter 2024 Financial Results Network & Processing $181 21% Professional Fees $131 9% Depreciation & Amortization $247 Note: The chart results are calculated over the comparable prior-year period. Percentage changes are calculated based on unrounded numbers. VISA 5% General & Administrative $340 (97%) Litigation Provision $9 (6%) Total Operating Expenses $2,680 Ⓒ2024 Visa. All rights reserved. 10#12Free Cash Flow Cash, cash equivalents and investment securities were $21.4 billion as of December 31, 2023. (in millions) Calculation of Free Cash Flow Net cash provided by operating activities Less: capital expenditures Free cash flow(1) (1) Free Cash Flow is cash provided by operating activities adjusted to reflect capital investments made in the business. (in millions) Returns to Shareholders Share repurchases (²) Dividends Q1 2024 $3,614 (267) $3,347 Q1 2024 $3,359 $1,060 (2) Share repurchases include applicable taxes. Note: Management believes that this presentation is useful to measure Visa's generation of cash available to first re-invest in the business, and then return excess cash to shareholders through share repurchases and cash dividends. Fiscal First Quarter 2024 Financial Results Ⓒ2024 Visa. All rights reserved. VISA 11