Investor Presentaiton

Highlights Q1-23 outperformance and cost discipline driving increased FY-23 EPS outlook Q1-23: Exceeded guidance across the board reflecting solid revenue growth and operating expense leverage Revenue of $7.04B, growing 8.6% at spot and 10.4% FXN (1), ~1.4 pts above FXN guidance • Non-GAAP operating margin expansion of ~200bps, driven by solid revenue growth and operating expense leverage Non-transaction related expenses declined 12% y/y о • Non-GAAP EPS of $1.17, ~$0.08 above the midpoint of guidance range . • Free cash flow (FCF) of $1.0B, ~20% of revenue excluding impact from higher cash taxes (2); FCF of $5.1B on a trailing 12-month basis • Returned $1.4B to stockholders through share repurchases; returned $4.1B on a trailing 12-month basis . Sequential TPV growth (FXN) acceleration across branded checkout (+2 pts to 6.5% y/y), unbranded processing (+1 pt to 30% y/y) and Venmo (+6 pts to 9% y/y) FY-23: Raising non-GAAP EPS guidance to reflect Q1-23 outperformance, with ongoing benefit from cost initiatives Raising FY-23 non-GAAP EPS guidance; now expect non-GAAP EPS to grow ~20% to ~$4.95 • FY-23 non-GAAP operating margin expected to expand at least ~100bps • FY-23 share repurchases expected to reach $4B, with ~$5B of FCF • Q2-23 non-GAAP EPS expected to be $1.15-$1.17, growing ~25% at the midpoint of the range • Q2-23 revenue expected to grow ~6.5%-7% at spot and ~7.5%-8% FXN 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. (1) Foreign currency-neutral. (2) -$430M impact to cash taxes from intra-group transfer of intellectual property. (3) See the section titled "FY-23 Guidance" for additional detail. PayPal ©2023 PayPal Holdings, Inc. Q1-23 Investor Update • 3

View entire presentation