Visa : Presentation ( PDF 127 KB )

Fiscal First Quarter 2022 Financial Results

January 27, 2022

©2022 Visa. All rights reserved.

Fiscal First Quarter 2022 Results

1. Non-GAAPresults exclude a special item, equity investment gains and losses, amortization of acquired intangible assets for acquisitions in fiscal year 2019 and subsequent periods, non-recurringacquisition-related costs and the related tax impacts.
2. 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.

Note: Refer to Non-GAAP and Adjusted Constant-Dollar Results Footnote for further information.

Fiscal First Quarter 2022 Financial Results

©2022 Visa. All rights reserved.

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Non-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 longer-term operating trends. We believe these measures 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-GAAPimpacts 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-recurringacquisition-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.

Fiscal First Quarter 2022 Financial Results

©2022 Visa. All rights reserved.

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Fiscal 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

		Q1 2022
In billions, except percentages and per share data. % change is calculated over the comparable prior-year period.	USD	% Change
Net Revenues	$7.1	24%
GAAP Net Income	$4.0	27%
GAAP Earnings Per Share	$1.83	29%
Non-GAAP Net Income(1)	$3.9	25%
Non-GAAP Earnings Per Share(1)	$1.81	27%

1. Non-GAAPresults exclude a special item, equity investment gains and losses, amortization of acquired intangible assets, non-recurringacquisition-related costs and the related tax impacts.

Key Business Drivers

YoY increase / (decrease), volume in constant dollars	Q1 2022
Payments Volume	20%
Cross-Border Volume Excluding Intra-Europe(1)	51%
Cross-Border Volume Total	40%
Processed Transactions	21%

1. Cross-bordervolume excluding transactions within Europe.

Fiscal First Quarter 2022 Financial Results

©2022 Visa. All rights reserved.

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Operational Performance Metrics Monthly Growth

2021 - 2022 U.S. Payments Volume Growth

Total

Credit

Debit

Total

Card Present

Card Not Present

Card Not Present, Excluding Travel

100%

100%

	U.S. Stimulus
80%	Payments	80%
60%		60%
40%		40%
20%		20%
0%		0%
(20%)	Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan	(20%)
	Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan
	1-21	1-21

Note: February growth rate for total U.S. payments volume would have been 9% 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

©2022 Visa. All rights reserved.

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