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Investor Presentaiton

Financial Detail (in millions, except %) Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Transaction Revenue $6,377 $5,998 $6,272 $6,234 $6,702 $6,364 Y/Y Growth 12% 7% 8% 11% 5% 6% Other Value Added Services (OVAS) $541 $485 $534 $612 $681 $676 Y/Y Growth 25% 18% 21% 6% 26% 39% Total Revenue $6,918 $6,483 $6,806 $6,846 $7,383 $7,040 Y/Y Growth 13% 7% 9% 11% 7% 9% FXN Y/Y Growth 13% 8% 10% 12% 9% 10% US Revenue Y/Y Growth 27% 20% 18% 14% 10% 13% International Revenue FXN Y/Y Growth (1%) (5%) 1% 9% 6% 7% % International 44% 43% 43% 42% 42% 41% Transaction expense $2,952 $2,817 $3,044 $2,988 $3,324 $3,283 Transaction and credit loss $350 $369 $448 $367 $388 $442 Volume-based expenses $3,302 $3,186 $3,492 $3,355 $3,712 $3,725 Customer support and operations $472 $455 $469 $453 $468 $412 Sales and marketing $573 $491 $499 $463 $432 $348 Technology and development $624 $610 $626 $628 $632 $557 General and administrative $440 $398 $418 $415 $446 $398 Non-transaction related expenses $2,109 $1,954 $2,012 $1,959 $1,978 $1,715 Total Operating Expenses ( (1) $5,411 $5,140 $5,504 $5,314 $5,690 $5,440 Y/Y Growth 17% 18% 20% 13% 5% 6% Non-GAAP Op. Income (¹) $1,507 $1,343 $1,302 $1,532 $1,693 $1,600 Non-GAAP Op. Margin % (1) 22% 21% 19% 22% 23% 23% Non-GAAP EPS (1) Y/Y Growth CAPEX $1.11 $0.88 $0.93 $1.08 $1.24 $1.17 4% (28%) (19%) (2%) 11% 33% Free Cash Flow (1,2) $213 $1,427 $191 $1,026 $175 $182 $158 $170 $1,075 $1,573 $1,433 $1,000 (1) Non-GAAP operating expenses, non-GAAP operating income, non-GAAP operating margin, non-GAAP EPS, and free cash flow are non-GAAP financial measures. Please see the Supplemental Information for a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures. (2) Reflects the impact of reclassification as described in our earnings press release dated February 9, 2023. PayPal ©2023 PayPal Holdings, Inc. Q1-23 Investor Update • 25
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