3Q 2025 Results 1 3Q'25 Financial Results Presented in millions, except per share data and percentages 3Q'25 3Q'24 YoY Growth FXN YoY Growth Total payment volume $458,088 $422,641 8% 7% GAAP Net revenues $8,417 $7,847 7% Operating income $1,520 $1,391 9% Operating margin 18.1% 17.7% 33bps Effective tax rate 18.6% 23.0% (4.4pts) Net income (loss) $1,248 $1,010 24% Earnings per diluted share $1.30 $0.99 32% Net cash provided by operating activities $1,974 $1,614 22% Non-GAAP Net revenues $8,417 $7,847 7% 6% Transaction margin dollars $3,871 $3,654 6% Transaction margin dollars excluding interest on customer balances $3,550 $3,315 7% Operating income $1,568 $1,477 6% Operating margin 18.6% 18.8% (19bps) Effective tax rate 18.1% 21.7% (3.6pts) Net income $1,288 $1,228 5% Earnings per diluted share $1.34 $1.20 12% Free cash flow $1,718 $1,445 19% Adjusted free cash flow $2,279 $1,540 48% ————————————————————————————————————————————— Financial Guidance 2025 Guidance: Following another strong quarter, PayPal is raising full year TM$ and EPS guidance and reaffirming free cash flow guidance. Please see PayPal’s 3Q'25 earnings presentation for more detail. October 2025 Guidance July 2025 Guidance Prior year period 4Q'25 GAAP EPS $1.23 - $1.27 N/A $1.11 Non-GAAP EPS 1 $1.27 - $1.31 N/A $1.19 FY'25 GAAP EPS 2 $5.11 - $5.15 $4.90 - $5.05 $3.99 Non-GAAP EPS 3 $5.35 - $5.39 $5.15 - $5.30 $4.65 Please see “Non-GAAP Measures of Financial Performance” for reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures and important additional information. 1. Estimated non-GAAP amounts for the three months ending December 31, 2025 reflect adjustments of approximately $40 million. 2. FY'24 GAAP EPS included a negative impact of ~$0.23 from PayPal’s strategic investment portfolio. 3. Estimated non-GAAP amounts for the full year ending December 31, 2025 reflect adjustments of approximately $255 million. 3Q 2025 Results 2 Conference Call & Webcast PayPal Holdings, Inc. will host a conference call to discuss third quarter 2025 results at 8:00 a.m. Eastern Time today. A live webcast of the conference call, together with a slide presentation that includes supplemental financial information and reconciliations of certain non-GAAP measures to their most directly comparable GAAP measures, can be accessed through the company’s Investor Relations website at https://investor.pypl.com. In addition, an a

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Text is the filed exhibit, verbatim.