#1Visa's Acquisition of Plaid January 13, 2020 VISA#2Forward Looking Statements This presentation contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are identified by words such as "will," "is expected," and other similar expressions. Examples of forward-looking statements include, but are not limited to, statements we make regarding the timing and likelihood of closing, Plaid's future success, the impact of the acquisition on Visa's growth, and the other benefits to Visa, developers, financial institutions and consumers. By their nature, forward-looking statements: (i) speak only as of the date they are made; (ii) are not statements of historical fact or guarantees of future performance; and (iii) are subject to risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify. Therefore, actual results could differ materially and adversely from Visa's forward-looking statements due to a variety of factors, including the timing and outcome of the regulatory approval process, shifts in the regulatory and competitive landscape, Plaid's maintenance of relationships with sources of data, cyber incidents, the pace and success of integration, Plaid's success in international expansion, and various other factors, including those contained in our Annual Report on Form 10-K for the fiscal year ended September 30, 2019, and our other filings with the U.S. Securities and Exchange Commission. You should not place undue reliance on such statements. Except as required by law, we do not intend to update or revise any forward-looking statements as a result of new information, future developments or otherwise. Ⓒ2020 Visa. All rights reserved. VISA#3Strategic Rationale ✩ Enhances Visa's role as a partner to fintech developers globally Expansion of total addressable market Acceleration of long-term revenue growth trajectory Best-in-class platform and team VISA + PLAID#4Fintechs Serve a Large Addressable Market with Very High Growth Rates Internet Enabled Consumers¹ (Billions) 2014 2019 2015 18% 2017 3.1 Fintech Adoption² % of internet enabled consumers using at least 1 fintech app 2019 4.5 50% 43% CAGR % of World Population 42% 75% 59% Users of Select Fintechs³ Fintech users growing 50%+ (Millions) Credit Karma Venmo Coinbase Mint Square Cash NuBank Toss Clearscore Etoro Revolut So Fi Circle Robinhood Transferwise Rainist MoneyLion Chime Acorns Monzo N26 Dave Stash Source: 1. Internet World Stats; 2. Ernst & Young; 3. Individual company information; Not all are Plaid customers; 4. CB Insights 7 6 6 8 7.5 5 5 5 4.5 3.6 3.5 3.5 1.7 10 10 15 15 13 20 30 40 YOY Growth ~18% N/A ~36% ~26% ~100% ~150% N/A N/A N/A ~167% 100 N/A N/A ~100% ~50% N/A ~80% N/A N/A ~137% ~96% N/A ~100% Fintech Funding4 VC-backed $120 Billion (7,688 Deals) in the last 5 years 59 Unicorns Valued over $200 billion Ⓒ2020 Visa. All rights reserved. VISA#5Plaid is the Best-in-Class Platform Connecting Fintech Developers, Financial Institutions and Consumers ● ● Ⓡ Plaid is a financial data network that makes it easy for people to securely connect their financial accounts to the apps they use to manage their financial lives Provides safe, secure connections for 80% of the largest U.S. fintech apps 11,000+ bank and financial services companies 2,600+ fintech developers 200+ million consumer accounts, including one in four people with a U.S. bank account Headquartered in San Francisco; Founded in 2013 Currently ~450 employees 200+ Million User Accounts ↑ Fintech Products & Applications 2,600+ Fintech & Financial Institution Developers Fin. Instit. 2●●● Fintech 1 Cust. 2,600+ HAK Account Authentication & Authorization PLAID Integrate With a Single Platform Fin. Inst. 2 Fin. Inst. 11,000+ Fin. Inst. 1 11,000+ Connected Institutions & Data Sources Linked Accounts Savings Credit Checking Account Information Identity Income Data Liabilities Assets Brokerage Transaction Data Balance Ⓒ2020 Visa. All rights reserved. VISA#6Plaid Offers a Compelling Value Proposition to its Partners Accounts Linked to Plaid (Millions) Why Fintechs and Fls Choose Plaid Benefits to Fintech Developers 10 2015 Source: Plaid 30 2016 115% CAGR 72 2017 129 2018 200+ 2019 Financial Institution Coverage Reliability Accuracy User Experience Integrated with 11,000+ financial institutions Uptime and tools result in fewer errors and higher approval rates Standardized data definitions and classifications drive better data accuracy and utilization Simple and elegant interface and user experience Customer Retention/ Acquisition Cost Savings Transaction Reliability Security Easy and persistent connections reduce user attrition and drive higher satisfaction A single integration gets developers full coverage of their users' financial accounts, saving time and money Fresh, accurate and well- structured data delivers higher transaction success rates Layered security and strong authentication drive down both suspected and confirmed fraud rates Ⓒ2020 Visa. All rights reserved. VISA#7Plaid Expands Visa's Addressable Market by Providing High Value Services to High Growth Fintechs. Growth Opportunities in Key N.A. Fintech Verticals Plaid Penetration Portion of Vertical Not Penetrated Banking & Investing: 5% of ~$650M TAM Lending: 2% of ~$1000M TAM Consumer Payments: 3% of ~$950M Financial Management: 4% of ~$350M TAM Business Services: 7% of ~$200M TAM Source: Plaid based on current products for North America Current Client Examples Goldman coinbase acorns Betterment robinhood LendingClub earnin blend Quicken Loans NAVIENT venmo Square stripe AMERICAN TransferWise EXPRESS credit karma drop claritymoney intuit. gusto Microsoft International Expansion Opportunity There are 15x more fintech users in International markets vs. U.S. ~ Int'l U.S. Plaid Int'l Fintech Market Source: Ernst & Young U.S. Fintech Market Visa Accelerates Plaid's International Expansion Ⓒ2020 Visa. All rights reserved. VISA#8Plaid Accelerates Visa's Network of Networks Money Movement Strategy Global Reach Through Integrated Payments Customer/ End User ● $ Fintech and Other App Developers VISA PLAID VISA Card ACH/RTP Digital Wallets → Financial Institutions Enhanced coverage of P2P and B2C use cases by integrating connector and payment services for fintechs • Acceleration of cross-border, network of networks money movement strategy by enabling fast and easy bank account authentication Best-in-class solution for our clients in International Open Banking markets Integration of value added services - e.g. security, identity, dispute resolution - to payment solutions offered to fintechs Ⓒ2020 Visa. All rights reserved. VISA#9Transaction Overview Financial Consideration Expected Financial Impact Business Leadership Capital Structure Expected Timing ● ● ● ● ● $4.9B cash consideration Approximately $400M of retention equity and deferred equity consideration in the form of Visa Restricted Stock units Fiscal Year 2021 revenue growth acceleration of 80-100 bps Fiscal Year 2021 non-GAAP¹ EPS dilution of 100-150 bps Expect transaction will be accretive to non GAAP EPS at the end of year three Plaid CEO and co-founder Zach Perret will continue to run the business, reporting to Visa Chief Product Officer, Jack Forestell Fund cash consideration with cash on hand and new debt issuance at the appropriate time No impact on our capital allocation strategy, including our previously announced stock buyback program and our dividend policy Close in 3-6 months Subject to required regulatory approvals and other customary closing conditions 1 Non GAAP EPS excludes amortization expense of acquired intangible assets, retention equity and deferred equity consideration expense, as well as non-recurring transaction and integration costs Ⓒ2020 Visa. 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