Q4 22 PayPal Earnings Release

Fourth Quarter and Full Year 2022 Results San Jose, California  February 9, 2023 (NASDAQ: PYPL) Q4'22: Operating discipline drives return to margin expansion and EPS growth • Net revenues of $7.4 billion, growing 7% and 9% on an FX-neutral basis (FXN) • GAAP EPS of $0.81 compared to $0.68 in Q4'21; non-GAAP EPS of $1.24 compared to $1.11 in Q4'21 • Total Payment Volume (TPV) of $357.4 billion, growing 5% and 9% FXN 1 FY'22: Net revenues reach $27.5 billion, growing 8% and 12% excluding eBay • Net revenues of $27.5 billion, growing 8% and 10% FXN; excluding eBay, revenue grew 12% and 13% FXN 2 2 • Operating cash flow of $5.8 billion ; free cash flow of $5.1 billion • GAAP EPS of $2.09 compared to $3.52 in FY'21; non-GAAP EPS of $4.13 compared to $4.60 in FY'21 • TPV of $1.36 trillion, growing 9% and 13% FXN FY'23: Cost savings and capital return program support earnings growth • Q1'23 net revenues expected to grow ~7.5% on a spot basis and ~9% FXN • Q1'23 GAAP EPS expected to be $0.62-$0.64; non-GAAP EPS expected to grow 23%-25% to $1.08-$1.10 • FY'23 GAAP EPS expected to be ~$3.27; non-GAAP EPS expected to grow ~18% to ~$4.87 • FY'23 share repurchases expected to represent ~75% of FCF Q4 and FY'22 Highlights GAAP Non-GAAP “2022 was a transformative year for PayPal. We invested in our YoY YoY USD $ USD $ Change Change platform to better serve our customers, while focusing and Net 3 $7.4B 7% $7.4B 9% streamlining our business. Revenues We will continue this work 2 2 Operating ' $1.2B 18% $1.7B 12% throughout 2023, and I am 4 Income Q confident that we are well- positioned to utilize our unique EPS $0.81 19% $1.24 11% assets to remain a market leader in digital payments.“ Net 3 $27.5B 8% $27.5B 10% Revenues 2 Operating 2 ' $3.8B (10%) $5.9B (7%) Dan Schulman Y Income F President and CEO EPS $2.09 (41%) $4.13 (10%) 1. All references to eBay in this press release refer to eBay Marketplaces on PayPal’s payments platform. 2. Beginning with the fourth quarter of 2022, we reclassified certain cash flows related to our collateral security arrangements for derivative Q4 & FY 2022 Results 1 instruments from cash flows from operating activities to cash flows from investing activities and cash flows from financing activities within the condensed consolidated statements of cash flows. See the section titled “Cash Flow Reclassification” for further details. 3. On an FXN basis.