PayPal Second Quarter 2025 Performance

PayPal Second Quarter 2025 Performance

• 1. PayPal Second Quarter 2025 Performance July 29, 2025 Financial results & company highlights

• 2. ©2025 PayPal Holdings, Inc. 2 Non-GAAP Financial Measures This presentation contains non-GAAP measures relating to our performance. These measures may exclude certain expenses, gains and losses that may not be indicative of our core operating results and business outlook, and, in each case, may be different from the non-GAAP financial measures used by other companies. The presentation of this financial information, which is not prepared under any comprehensive set of accounting rules or principles, is not intended to be considered in isolation of, or as a substitute for, the financial information prepared and presented in accordance with generally accepted accounting principles. You can find the reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures in the GAAP to non-GAAP reconciliation section of this presentation. Growth Rates All growth rates represent year-over-year comparisons, except as otherwise noted. FX-Neutral (which we also refer to as FXN or currency-neutral) results are calculated by translating the current period’s local currency results by the prior period’s exchange rate. FX-Neutral growth rates are calculated by comparing the current period's FX-Neutral results with the prior period's results, excluding the impact from currency hedging activities. Forward-Looking Statements This presentation contains forward-looking statements relating to, among other things, the future results of operations, financial condition, expectations and plans of PayPal Holdings, Inc. and its consolidated subsidiaries (“PayPal”) that reflect current projections and forecasts. Forward-looking statements can be identified by words such as “may,” “will,” “would,” “should,” “could,” “expect,” “anticipate,” “believe,” “estimate,” “intend,” “continue,” “strategy,” “future,” ”opportunity,” “plan,” “project,” “forecast” and other similar expressions. Forward-looking statements may include, but are not limited to, statements regarding our guidance and projected financial and operating results for third quarter and full year 2025; our capital return program; the timing and impact of product launches and acquisitions; and the projected future growth of PayPal’s businesses. Forward-looking statements are based upon various estimates and assumptions, as well as information known to PayPal as of the date of this presentation and are inherently subject to numerous risks and uncertainties. Our actual results could differ materially from those estimated or implied by forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: our ability to compete in markets that are highly competitive and subject to rapid technological change, and to develop and deliver new or enhanced products and services on a timely basis; cyberattacks and security vulnerabilities, and associated impacts; the effect of global and regional political, economic, market and trade conditions including military conflicts, supply chain issues, tariffs or uncertainty thereof, and related events that affect payments or commerce activity, including inflation and interest rates; the impact of catastrophic events, such as global pandemics, that may disrupt our business, as well as our customers, suppliers, vendors and other business partners; the stability, security and performance of our payments platform; the effect of extensive government regulation and oversight related to our business, products and services in a variety of areas, including, but not limited to, laws covering payments, lending and consumer protection; the impact of complex and changing laws and regulations worldwide, including, but not limited to, laws covering cybersecurity, privacy, data protection, and artificial intelligence; the impact of payment card, bank, or other network rules or practices; risks related to our credit products, including our ability to realize benefits from our agreements with third parties such as our agreement to sell our European BNPL loan receivables; changes in how consumers fund transactions; our ability to effectively detect and prevent the use of our services for fraud, abusive behaviors, illegal activities, or improper purposes; our ability to manage regulatory and litigation risks, and the outcome of legal and regulatory proceedings; our reliance on third parties in many aspects of our business; damage to our reputation or brands; fluctuations in foreign currency exchange rates; changes in tax rates and exposure to additional tax liabilities; changes to our capital allocation, management of operating cash or incurrence of indebtedness; our ability to timely develop and upgrade our technology systems, infrastructure and customer service capabilities; the impact of proposed or completed acquisitions, divestitures, strategic investments, or entries into new businesses or markets; and our ability to attract, hire, and retain talented employees. The forward-looking statements in this presentation do not include the potential impact of any acquisitions or divestitures that may be announced and/or contemplated after the date of this presentation. More information about factors that could adversely affect PayPal's results of operations, financial condition and prospects or that could cause actual results to differ from those expressed or implied in forward-looking statements is included in PayPal’s most recent annual report on Form 10-K, and its subsequent quarterly reports on Form 10-Q. All information in this presentation is as of July 29, 2025. For the reasons discussed above, you should not place undue reliance on the forward-looking statements in this presentation. PayPal assumes no obligation to update such forwardlooking statements.

• 3. ©2025 PayPal Holdings, Inc. 3 • Another quarter of profitable growth: TM$ ex. interest on customer balances1 +8% • Strengthening PayPal value proposition: branded experiences TPV +8% and branded online checkout TPV +5% ◦ Mid-teens % global transactions on new checkout2 ◦ >20% Venmo revenue growth3 ◦ 60% debit card TPV growth ◦ Braintree TPV returning to growth • Innovating to power the future of global commerce: investing in agentic, ads, crypto and stablecoins, and PayPal World • Strong 1H; raising FY'25 TM$ and EPS guidance All growth rates reference 2Q'25 year-over-year growth unless otherwise noted. (1) TM$ is transaction margin dollars. Interest on customer balances is reported within other value added services (OVAS) revenue and primarily comprises interest and revenue earned on customer assets. TM$ and TM$ ex. interest on customer balances are non-GAAP measures. Reconciliations to the most directly comparable GAAP measure on slide 27. (2) New checkout experience penetration of branded checkout buyer-started transactions on our most modern consumer-facing checkout experience. Includes >60% of US branded checkout traffic. (3) Including one-time benefit from renewal and expansion of key payment partner relationship, Venmo revenue growth +31%. 2Q'25: Strong execution across PayPal driving profitable growth 3 PayPal CTO Srini Venkatesan presenting at PayPal’s recent Dev Days, where developers and partners from across the AI space came together to build agentic commerce experiences with PayPal’s MCP servers and Agent Toolkit. Learn more at paypal.ai 3

• 4. ©2025 PayPal Holdings, Inc. 4 Branded Experiences Scale Omni and Grow Venmo Advancing strategic growth drivers Drive PSP Profitability Scale Next Gen Growth Vectors PayPal and Venmo can now be set as default payment options in the Taco Bell app and website – and customers checking out with PayPal can earn 20% cash back2 (1) New checkout experience penetration of branded checkout buyer-started transactions on our most modern consumer-facing checkout experience. Includes >60% of US branded checkout traffic. (2) On purchases over $5 with a $10 cash back max per purchase until 7/31/25. Scaling modern experiences and high-growth products All growth rates reference 2Q'25 year-over-year growth unless otherwise noted. Valid until 7/31/25 Check out with PayPal online. Rewards will be issued in points which can be redeemed for cash back or other options. Global branded checkout traffic on new checkout experience1 Mid-teens % >45% >20% Win Checkout Pay with Venmo TPV growth BNPL TPV growth

• 5. ©2025 PayPal Holdings, Inc. 5 All growth rates reference 2Q'25 year-over-year growth unless otherwise noted. (1) Including one-time benefit from renewal and expansion of key payment partner relationship, Venmo revenue growth +31%. • Launching Big 12 co-branded Venmo Debit Cards with perks like cash back rewards, exclusive events, and ticket giveaways • Big Ten and Big 12 student-athletes can now receive revenue share payouts via PayPal and Venmo Driving everyday spend with Venmo across college campuses nationwide Accelerating Venmo growth Branded Experiences Scale Omni and Grow Venmo Drive PSP Profitability Scale Next Gen Growth Vectors Win Checkout Pay with Venmo TPV >45% growth >40% Venmo Debit Card monthly active account growth Venmo revenue growth >20% 1 Advancing strategic growth drivers

• 6. ©2025 PayPal Holdings, Inc. 6 All growth rates reference 2Q'25 year-over-year growth unless otherwise noted. (1) In Germany. • Introduced Pay Later To Go to give shoppers the option to split in-store purchases into 3, 6, 12, and 24-month installments • Launched Deal Week, enabling consumers to earn rewards at over 2,000 stores by activating offers in the PayPal app Contactless mobile wallet enrollments in Germany >3M Since launch 2M Added in 2Q First time PayPal & Venmo Debit Card users in the US Enrolled NFC users set PayPal as their default NFC wallet >50% 1 PayPal’s first contactless mobile wallet is now available nationwide in Germany on iOS and Android Gaining momentum beyond ecommerce Branded Experiences Scale Omni and Grow Venmo Drive PSP Profitability Scale Next Gen Growth Vectors Win Checkout Advancing strategic growth drivers

• 7. ©2025 PayPal Holdings, Inc. 7 Connecting five of the world’s largest digital payment systems and wallets with nearly 2 billion users on a single platform Launching in the fall, starting with connecting partner wallets to PayPal and Venmo. With more wallets to join in the coming months. Introducing PayPal World Commerce: Consumers can check out with global merchants using their local digital wallet online or in-store P2P: Unlocking interoperability across digital wallet ecosystems with PayPal & Venmo Branded Experiences Scale Omni and Grow Venmo Drive PSP Profitability Scale Next Gen Growth Vectors Win Checkout Advancing strategic growth drivers ©2025 PayPal Holdings, Inc. 7 Enabling seamless global commerce & P2P experiences Product imagery for demonstration purposes only and actual user experience may vary.

• 8. ©2025 PayPal Holdings, Inc. 8 Braintree FXN TPV growth SMB: Expanding PayPal Complete Payments (PPCP) • Launched Fraud Protection Advanced globally • Expanded partnership with Wix, seamlessly integrating with Wix Payments Enterprise: Braintree TPV returning to growth • Driving TPV and TM $ growth into 2H’25 PSP continuing to contribute to TM$ growth Branded Experiences Scale Omni and Grow Venmo Drive PSP Profitability Scale Next Gen Growth Vectors Win Checkout Advancing strategic growth drivers

• 9. ©2025 PayPal Holdings, Inc. 9 Building powerful agentic experiences with trusted commerce tools and partners such as Perplexity, Anthropic, and Salesforce Agentic Crypto & stablecoin Simplifying global money movement with PYUSD and the launch of Pay with Crypto Creating personalized storefronts with the launches of Storefront and Offsite Ads Ads 9 Shaping the future of commerce Branded Experiences Scale Omni and Grow Venmo Drive PSP Profitability Scale Next Gen Growth Vectors Win Checkout Advancing strategic growth drivers You’re buying 50.00 PYUSD Exchange rate Price Transaction fee Total 1.00 PYUSD = 1 USD $50.00 $0.00 $50.00

• 10. ©2025 PayPal Holdings, Inc. 10 • TPV and revenue accelerated from 1Q • Another quarter of high single-digit TM$ growth • Adjusted free cash flow impacted by shifts in working capital timing • Raising FY'25 TM$ and EPS guidance; reiterating $6-$7B FCF guidance 2Q'25 snapshot (in millions, except % and per share data) Results Y/Y growth Total payment volume (TPV) $443,547 6%; 5% FXN Revenue $8,288 5%; 5% FXN Transaction margin $ (TM$)1$3,844 7% TM$ ex. interest on customer balances1,2 $3,526 8% Non-GAAP EPS1$1.40 18% Adjusted free cash flow1,3 $656 (42%) All growth rates reference 2Q'25 year-over-year growth unless otherwise noted. Additional financial detail provided in Supplemental Information. (1) For a reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the GAAP to non-GAAP Reconciliations on slides 26-29. (2) Interest on customer balances is reported within OVAS revenue in this presentation and in our quarterly/annual SEC filings and primarily comprises interest and revenue earned on customer assets. (3) Adjusted free cash flow excludes the net impact from timing differences between originating European buy now, pay later (“BNPL”) receivables classified as held for sale and their subsequent sale. See slide 29 for more detail.

• 11. ©2025 PayPal Holdings, Inc. 11 Account and activity metrics1 (in millions, except % and TPA) 2Q'25 Active accounts2 438 Y/Y growth 2% Monthly active accounts (MAA)3226 Y/Y growth 2% Number of payment transactions 6,226 Y/Y growth (5%) Number of payment transactions ex. PSP (unbranded card processing) 3,946 Y/Y growth 6% Transactions per active account (TPA)458.3 Y/Y growth (4%) TPA ex. PSP435.6 Y/Y growth 4% All growth rates reference 2Q'25 year-over-year growth unless otherwise noted. (1) Detailed definitions on slide 30. (2) Active accounts are accounts that have completed a transaction within the past 12 months. (3) MAA are a subset of active accounts (primarily PayPal and Venmo) that have completed a transaction at least once during the month of measurement. MAAs presented at the end of a quarter or year are the average of each month’s MAAs in the respective quarter or year. (4) TPA and TPA ex. PSP are trailing 12-month metrics, reflecting transactions within the previous 12-month period, divided by active accounts at the end of the period. TPA ex. PSP excludes both unbranded card processing transactions and unbranded active accounts (primarily Braintree). • Active accounts2 and MAA3 +2%, with contributions from both PayPal consumer accounts and Venmo • Number of payment transactions -5% and TPA4-4%, reflecting price-to-value actions driving lower Braintree transactions • Number of payment transactions ex. PSP +6% and TPA ex. PSP4 +4%, reflecting customer engagement with transaction growth in branded experiences (debit and branded checkout), Venmo, and P2P

• 12. ©2025 PayPal Holdings, Inc. 12 TPV mix across PayPal’s platform 2Q'24 1Q'25 2Q'25 Prior year period Prior quarter Current quarter Branded checkout (online)1 FXN GROWTH 5% 4%; 6% ex Leap Day 5% % OF TOTAL 29% 29% 29% P2P & other consumer2 FXN GROWTH 7% 8% 10% % OF TOTAL 26% 27% 27% Payment service provider (PSP)3 FXN GROWTH 18% 2% 2% % OF TOTAL 45% 44% 44% Total TPV FXN GROWTH 11% 4% 5% Branded experiences (online & offline)4 FXN GROWTH 6% 7%; 8% ex Leap Day 8% % OF TOTAL 30% 31% 31% Venmo5 FXN GROWTH 8% 10% 12% % OF TOTAL 18% 18% 18% Percent of total may not sum to 100% due to rounding. Additional financial detail provided in Supplemental Information and definitions on slide 31. (1) Branded Checkout (online) TPV comprises PayPal branded checkout, Pay with Venmo and eBay. (2) P2P & Other Consumer TPV comprises P2P (PayPal and Venmo), debit (PayPal and Venmo) except when used to fund a branded checkout (online) transaction and remittances. (3) PSP TPV comprises unbranded card processing across the Braintree and PayPal platforms, as well as other merchant solutions (e.g., payouts, invoicing, point-of-sale solutions, etc.) (4) Branded experiences (online & offline) TPV comprises branded checkout (online) as well as in-store payment methods, including debit (PayPal and Venmo) and tap to pay. (5) Venmo comprises Venmo P2P, Pay with Venmo and Venmo debit. • Branded checkout TPV up mid-single-digits despite some tariff headwinds on retail spending • P2P & other consumer accelerated on Venmo and debit card momentum • PSP TPV stabilizing: Braintree TPV returning to growth • Continued momentum in branded experiences TPV growth • Venmo TPV growth accelerated to highest rate in the past 3 years

• 13. ©2025 PayPal Holdings, Inc. 13 • Within total revenue, transaction revenue +4%, driven by branded checkout and Venmo, and other value-added services (OVAS) revenue +16%, driven primarily by strong performance in consumer and merchant credit • TM$ +7% from multiple sources: credit, branded checkout, PSP and value-added services, and Venmo ◦ Includes ~1.5 point one-time benefit from renewal and expansion of key payment partner relationship; offset by higher transaction loss • Non-transaction opex +2%, driven by investments in key growth initiatives, including marketing, with some benefit from the timing of G&A expenses • Returned $1.5B via share repurchases, $6.0B on a trailing 12-month basis, reducing weighted average shares by 7% All growth rates reference 2Q'25 year-over-year growth unless otherwise noted. Additional financial detail provided in Supplemental Information. (1) For a reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the GAAP to non-GAAP Reconciliations on slides 26-29. (2) Interest on customer balances is reported within OVAS revenue in this presentation and in our quarterly/annual SEC filings and primarily comprises interest and revenue earned on customer assets. 2Q'25 key financial results (in millions, except % and per share data) 2Q'25 Total revenue $8,288 Y/Y growth 5% FXN Y/Y growth 5% Transaction margin $1$3,844 Y/Y growth 7% Y/Y growth ex. int. on cust. balances1,2 8% Non-transaction related expenses1$2,200 Y/Y growth 2% Non-GAAP operating income1$1,644 Y/Y growth 13% Non-GAAP operating margin %119.8% Y/Y change 132bps Non-GAAP EPS1$1.40 Y/Y growth 18%

• 14. ©2025 PayPal Holdings, Inc. 14 Raising FY'25 TM$ & EPS guidance 3Q'25 Transaction margin $ $3.76B - $3.82B 3% - 5% growth 5% - 7% growth ex. interest on customer balances1 Non-GAAP effective tax rate 18% - 20% Non-GAAP EPS2 $1.18 - $1.22 (2%) - 2% growth GAAP EPS $1.14 - $1.18 FY'25 July 2025 guidance April 2025 guidance Transaction margin $ $15.35B - $15.5B 5% - 6% growth $15.2B - $15.4B 4% - 5% growth Includes ($125M) from lower interest on customer balances1 6% - 7% growth ex. interest on customer balances1 Included ($150M) from lower interest on customer balances 5% - 7% growth ex. interest on customer balances1 Non-GAAP non-transaction operating expenses Low single-digit growth Low single-digit growth Non-GAAP effective tax rate ~20% 21% - 22% Non-GAAP EPS3 $5.15 - $5.30 11% - 14% growth $4.95 - $5.10 6% - 10% growth GAAP EPS $4.90 - $5.05 $4.80 - $4.95 Free cash flow $6B - $7B $6B - $7B Share repurchase ~$6B ~$6B CAPEX ~$1B ~$1B (1) Interest on customer balances is reported within OVAS revenue in this presentation and in our quarterly/annual SEC filings and primarily comprises interest and revenue earned on customer assets. (2) Estimated non-GAAP amounts for 3Q'25 reflect adjustments of ~$50M. (3) Estimated non-GAAP amounts for FY'25 reflect adjustments of ~$270M. For a reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the GAAP to non-GAAP Reconciliations on slides 26-29.

• 15. ©2025 PayPal Holdings, Inc. 15 • Continued profitable growth with multiple drivers including credit, branded checkout, PSP, and Venmo • Initiatives gaining traction: reinvigorating PayPal and Venmo brands and scaling new ways to pay • Shaping the future of commerce with innovation including agentic commerce, ads, PayPal World, and Pay with Crypto • Strong 1H; raising FY'25 TM$ and EPS guidance Building momentum across PayPal’s global commerce platform

• 16. ©2025 PayPal Holdings, Inc. 16 Q&A Power payments Drive growth Operate smarter Pay your way Get the most value Pay everywhere Online In-store Agentic PayPal is building the nextgeneration commerce platform 16

• 17. ©2025 PayPal Holdings, Inc. 17 Supplemental information

• 18. ©2025 PayPal Holdings, Inc. 18 • U.S. TPV +4%, driven by Venmo, debit cards, and branded checkout, partly offset by Braintree price-to-value • International TPV +6% FXN, driven by continued growth in Europe • Cross-border TPV1 +7% FXN, driven predominantly by intra-European corridors • Transaction take rate -4bps driven primarily by the impact of foreign currency hedges, product and merchant mix (in millions, except %) 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 Total payment volume $403,860 $416,814 $422,641 $437,836 $417,208 $443,547 Y/Y growth 14% 11% 9% 7% 3% 6% FXN Y/Y growth 14% 11% 9% 7% 4% 5% U.S. TPV $259,190 $265,526 $265,706 $275,911 $269,916 $276,778 Y/Y growth 12% 11% 9% 7% 4% 4% International TPV $144,671 $151,288 $156,934 $161,925 $147,293 $166,768 Y/Y growth 18% 10% 8% 7% 2% 10% FXN Y/Y growth 17% 11% 8% 7% 5% 6% Cross-border TPV1 $48,163 $49,089 $50,186 $53,022 $49,767 $54,174 Y/Y growth 8% 5% 8% 8% 3% 10% FXN Y/Y growth 7% 6% 7% 9% 6% 7% P2P TPV2$96,361 $100,802 $102,353 $102,663 $101,383 $108,442 Y/Y growth 6% 6% 6% 7% 5% 8% Venmo TPV $69,265 $73,290 $74,848 $75,610 $75,942 $81,976 Y/Y growth 8% 8% 8% 10% 10% 12% Total take rate 1.91% 1.89% 1.86% 1.91% 1.87% 1.87% Transaction take rate 1.74% 1.72% 1.67% 1.73% 1.68% 1.68% Total revenue $7,699 $7,885 $7,847 $8,366 $7,791 $8,288 Y/Y growth 9% 8% 6% 4% 1% 5% FXN Y/Y growth 10% 9% 6% 4% 2% 5% Transaction revenue $7,034 $7,153 $7,067 $7,588 $7,016 $7,441 Y/Y growth 11% 9% 6% 4% —% 4% OVAS revenue $665 $732 $780 $778 $775 $847 Y/Y growth (2%) —% 2% 5% 17% 16% US revenue Y/Y growth 8% 8% 6% 2% —% 3% International revenue FXN Y/Y growth 14% 10% 6% 7% 5% 7% % international 42% 42% 42% 43% 43% 43% TPV, revenue, & take rate detail All results & growth rates reference 2Q'25 results & year-over-year growth unless otherwise noted. Definitions on slide 30-31. (1) Cross-border TPV is captured in both U.S. and international TPV and includes branded checkout and P2P, but does not include PSP TPV (unbranded processing). In a typical purchase transaction, cross-border TPV is counted in the region where the merchant is based. For example, in the case of a U.S. seller and a German buyer, the TPV is counted in the U.S. (2) P2P TPV comprises Venmo, PayPal, and Xoom P2P.

• 19. ©2025 PayPal Holdings, Inc. 19 TPV mix detail Percent of total may not sum to 100% due to rounding. Definitions on slide 31. (1) Branded Checkout (online) TPV comprises PayPal branded checkout, Pay with Venmo and eBay. (2) P2P & Other Consumer TPV comprises P2P (PayPal and Venmo), debit (PayPal and Venmo) except when used to fund a branded checkout (online) transaction and remittances. (3) PSP TPV comprises unbranded card processing across the Braintree and PayPal platforms, as well as other merchant solutions (e.g., payouts, invoicing, point-of-sale solutions, etc.). (4) Branded experiences (online & offline) TPV comprises branded checkout (online), debit (PayPal and Venmo) and tap to pay. (5) Venmo comprises Venmo P2P, Pay with Venmo and Venmo debit. 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 FY'23 FY'24 Branded checkout (online)1 FXN GROWTH 5% 5% 6% 4%; 6% ex Leap Day 5% 5% 6% % OF TOTAL 29% 29% 32% 29% 29% 31% 30% P2P & other consumer2 FXN GROWTH 7% 7% 9% 8% 10% 3% 7% % OF TOTAL 26% 26% 25% 27% 27% 26% 26% Payment service provider (PSP)3 FXN GROWTH 18% 12% 6% 2% 2% 25% 15% % OF TOTAL 45% 45% 43% 44% 44% 43% 44% Total TPV FXN GROWTH 11% 9% 7% 4% 5% 12% 10% Branded experiences (online & offline)4 FXN GROWTH 6% 6% 8% 7%; 8% ex Leap Day 8% 5% 6% % OF TOTAL 30% 30% 34% 31% 31% 32% 31% Venmo5 FXN GROWTH 8% 8% 10% 10% 12% 9% 9% % OF TOTAL 18% 18% 17% 18% 18% 18% 17%

• 20. ©2025 PayPal Holdings, Inc. 20 (in millions, except % and TPA) 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 Active accounts1427 429 432 434 436 438 Y/Y growth (1%) —% 1% 2% 2% 2% Monthly active accounts (MAA)2220 221 222 228 224 226 Y/Y growth 2% 3% 2% 2% 2% 2% Number of payment transactions 6,505 6,580 6,631 6,619 6,045 6,226 Y/Y growth 11% 8% 6% (3%) (7%) (5%) Number of payment transactions ex. PSP 3,602 3,719 3,770 4,052 3,805 3,946 Y/Y growth 6% 6% 6% 7% 6% 6% Transactions per active account (TPA)3 60.0 60.9 61.4 60.6 59.4 58.3 Y/Y growth 13% 11% 9% 3% (1%) (4%) TPA ex. PSP333.9 34.2 34.5 34.9 35.2 35.6 Y/Y growth 7% 6% 5% 4% 4% 4% Account and activity metrics detail • Active accounts1 and MAA2 +2%, with contributions from both PayPal consumer accounts and Venmo • Number of payment transactions -5% and TPA3-4%, reflecting price-to-value actions driving lower Braintree transactions • Number of payment transactions ex. PSP +6% and TPA ex. PSP3 +4%, reflects customer engagement with transaction growth in branded experiences (debit and branded checkout), Venmo, and P2P All results & growth rates reference 2Q'25 results & year-over-year growth unless otherwise noted. Definitions on slide 30. (1) Active accounts are accounts that have completed a transaction within the past 12 months. (2) MAA are a subset of active accounts (primarily PayPal and Venmo) that have completed a transaction at least once during the month of measurement. MAAs presented at the end of a quarter or year are the average of each month’s MAAs in the respective quarter or year. MAAs have been updated to exclude certain credit product accounts that are less reflective of consumer engagement on our platform. This resulted in an immaterial impact on each period’s total MAAs and no change to reported growth rates. (3) TPA and TPA ex. PSP are trailing 12-month metrics, reflecting transactions within the previous 12-month period, divided by active accounts at the end of the period. TPA ex. PSP excludes both unbranded card processing transactions and unbranded active accounts (primarily Braintree).

• 21. ©2025 PayPal Holdings, Inc. 21 (in millions, except %) 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 Transaction expense (TE) $3,917 $3,942 $3,841 $3,997 $3,704 $3,968 TE rate 0.97% 0.95% 0.91% 0.91% 0.89% 0.89% Transaction loss (TL) $260 $259 $264 $331 $278 $383 TL rate 0.06% 0.06% 0.06% 0.08% 0.07% 0.09% Credit loss $61 $76 $88 $103 $93 $93 Credit loss rate 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% Volume-based expenses $4,238 $4,277 $4,193 $4,431 $4,075 $4,444 Y/Y growth 14% 9% 4% 2% (4%) 4% Transaction margin $1$3,461 $3,608 $3,654 $3,935 $3,716 $3,844 Y/Y growth 4% 8% 8% 7% 7% 7% Transaction margin145.0% 45.8% 46.6% 47.0% 47.7% 46.4% Y/Y change (bps) (213) (19) 115 128 274 62 TM$ ex. interest on customer balances1,2 $3,189 $3,267 $3,315 $3,603 $3,418 $3,526 Y/Y growth 1% 5% 6% 6% 7% 8% Transaction margin (TM) detail • TE rate -6bps, driven by favorable product and merchant mix • TL rate +3bps driven by normalization in loss rates and fraud activity during the period • Credit loss rate in line with 2Q'24, while credit portfolio continues to grow Definitions on slides 30-31. All results & growth rates reference 2Q'25 results & yearover-year growth unless otherwise noted. (1) TM, TM$ and TM$ ex. interest on customer balances are non-GAAP measures. A reconciliation to the most directly comparable GAAP measure is included on slide 26. (2) TM$ is transaction margin dollars. Interest on customer balances is reported within other value added services (OVAS) revenue in this presentation and in our quarterly/ annual SEC filings and primarily comprises interest and revenue earned on customer assets.

• 22. ©2025 PayPal Holdings, Inc. 22 (1) Non-transaction related expenses, total operating expenses, non-GAAP operating income, non-GAAP operating margin, and non-GAAP EPS are non-GAAP financial measures. For a reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures and additional detail, please see the GAAP to non-GAAP Reconciliations on slides 25-28. (in millions, except %) 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 Customer support and operations $454 $436 $427 $451 $398 $413 Y/Y growth (7%) (11%) (10%) (3%) (12%) (5%) Sales and marketing $379 $406 $468 $586 $448 $542 Y/Y growth (4%) (4%) 17% 38% 18% 33% Technology and development $735 $713 $742 $772 $731 $767 Y/Y growth 3% (3%) 2% 1% (1%) 8% General and administrative $457 $563 $512 $587 $496 $454 Y/Y growth (9%) 16% 3% 7% 9% (19%) Restructuring and other $37 $30 $28 $37 $27 $24 Y/Y growth -% (12%) 65% 1133% (27%) (20%) Non-transaction related expenses $2,062 $2,148 $2,177 $2,433 $2,100 $2,200 Y/Y growth (2%) (1%) 3% 10% 2% 2% Total operating expenses $6,300 $6,425 $6,370 $6,864 $6,175 $6,644 Y/Y growth 8% 5% 3% 5% (2%) 3% Non-GAAP operating income $1,399 $1,460 $1,477 $1,502 $1,616 $1,644 Y/Y growth 15% 24% 18% 2% 16% 13% Non-GAAP operating margin % 18.2% 18.5% 18.8% 18.0% 20.7% 19.8% Y/Y change (bps) 84 231 194 (34) 257 132 Non-GAAP EPS $1.08 $1.19 $1.20 $1.19 $1.33 $1.40 Y/Y growth 27% 36% 22% 5% 23% 18% Non-GAAP1 operating margin detail • G&A -19%, which included impact from lower indirect tax expense and a legal contingency reserve in the prior year period • Non-GAAP results exclude the impact of a ~$92M restructuring expense related to tech transformation initiatives, including the exit of certain data centers and migration to more cloud-based solutions

• 23. ©2025 PayPal Holdings, Inc. 23 (in millions, except %) 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 Free cash flow $1,763 $1,368 $1,445 $2,191 $964 $692 Y/Y growth 76% ** 31% (11%) (45%) (49%) Adjusted free cash flow1 $1,856 $1,140 $1,540 $2,098 $1,381 $656 Y/Y growth 86% 31% (19%) 171% (26%) (42%) Free cash flow (FCF) and capital allocation detail • FCF and adjusted FCF were impacted by shifts in working capital timing • Returned $1.5B in capital to stockholders through share repurchases ◦ On a trailing 12-month basis, share repurchases of $6.0B reduced weighted average shares by 7% • As of 2Q, cash, cash equivalents and investments totaled $13.7B and debt totaled $11.5B All results & growth rates reference 2Q'25 results & year-over-year growth unless otherwise noted. Free cash flow and adjusted free cash flow are non-GAAP financial metrics. For a reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures and additional detail, please see the GAAP to non-GAAP Reconciliations on slides 26-29. (1) Adjusted free cash flow excludes the net timing impact between originating European BNPL receivables as HFS and the subsequent sale of these receivables. ** Not meaningful. 2Q'23 free cash flow of ($0.4B) included a $1.2B negative timing impact from European BNPL loans originated as HFS, which were sold in 4Q'23.

• 24. ©2025 PayPal Holdings, Inc. 24 (in millions, except %) 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 Hedging Impacts(1) Favorable (unfavorable) impact to net revenues (exclusive of hedging impact) $32 $(33) $12 $(29) $(104) $111 Hedging impact — 22 (12) 38 35 (70) Favorable (unfavorable) impact to net revenues 32 (11) — 9 (69) 41 Favorable (unfavorable) impact to operating expense (13) 25 (10) 26 52 (50) Net favorable (unfavorable) impact to operating income $19 $14 $(10) $35 $(17) $(9) Credit net charge-offs, reserve builds (releases) and credit losses Net charge-offs(2) $123 $91 $81 $77 $78 $75 Reserve build (release)(3) (62) (15) 7 26 15 18 Credit Losses $61 $76 $88 $103 $93 $93 (1) Foreign currency movements relative to the US dollar. We calculate the year-over-year impact of foreign currency movements on our business using prior period foreign currency exchange rates applied to current period transactional currency amounts. Hedging impact is recognized in international transaction revenue. Based on exchange rates on derivative positions as of June 30, 2025, estimated next 12 months hedging losses are $277M. (2) Net charge-offs includes principal charge-offs partially offset by recoveries for consumer and merchant receivables. (3) Reserve build (release) represents change in allowance for principal receivables excluding foreign currency remeasurement. Hedging impacts and credit reserve builds and releases

• 25. ©2025 PayPal Holdings, Inc. 25 GAAP to non-GAAP reconciliations

• 26. ©2025 PayPal Holdings, Inc. 26 Reconciliation of GAAP operating expenses to non-GAAP operating expenses Three Months Ended Year Ended December 31, (In Millions/Unaudited) Note June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 September 30, 2023 June 30, 2023 March 31, 2023 2024 2023 2022 GAAP operating expenses: Transaction expense $ 3,968 $ 3,704 $ 3,997 $ 3,841 $ 3,942 $ 3,917 $ 3,958 $ 3,603 $ 3,541 $ 3,283 $ 15,697 $ 14,385 $ 12,173 Transaction and credit losses 476 371 434 352 335 321 396 446 398 442 1,442 1,682 1,572 Customer support and operations 413 398 451 427 436 454 465 474 492 488 1,768 1,919 2,120 Sales and marketing 583 488 626 508 446 421 466 442 465 436 2,001 1,809 2,257 Technology and development 767 731 773 746 718 742 770 739 743 721 2,979 2,973 3,253 General and administrative 461 503 594 519 570 464 554 507 491 507 2,147 2,059 2,099 Restructuring and other 116 66 50 63 113 212 (311) 39 24 164 438 (84) 207 Total operating expenses $ 6,784 $ 6,261 $ 6,925 $ 6,456 $ 6,560 $ 6,531 $ 6,298 $ 6,250 $ 6,154 $ 6,041 $ 26,472 $ 24,743 $ 23,681 Non-GAAP operating expense adjustments: Sales and marketing (a) (41) (40) (40) (40) (40) (42) (41) (42) (42) (41) (162) (166) (215) Technology and development (a) — — (1) (4) (5) (7) (6) (9) (9) (9) (17) (33) (232) General and administrative (a) (7) (7) (7) (7) (7) (7) (7) (7) (7) (7) (28) (28) (24) (d) — — — — — — — (4) — — — (4) — Restructuring and other (b) (92) (39) (13) (36) (83) (175) (2) (3) — (117) (307) (122) (122) (c) — — — 1 — — (2) (19) 10 (47) 1 (58) (85) (d) — — — — — — (21) — — — — (21) — (e) — — — — — — 339 — — — — 339 — Total operating expenses $ (140) $ (86) $ (61) $ (86) $ (135) $ (231) $ 260 $ (84) $ (48) $ (221) $ (513) $ (93) $ (678) Non-GAAP operating expenses: Transaction expense 3,968 3,704 3,997 3,841 3,942 3,917 3,958 3,603 3,541 3,283 $ 15,697 $ 14,385 $ 12,173 Transaction and credit losses 476 371 434 352 335 321 396 446 398 442 1,442 1,682 1,572 Customer support and operations 413 398 451 427 436 454 465 474 492 488 1,768 1,919 2,120 Sales and marketing 542 448 586 468 406 379 425 400 423 395 1,839 1,643 2,042 Technology and development 767 731 772 742 713 735 764 730 734 712 2,962 2,940 3,021 General and administrative 454 496 587 512 563 457 547 496 484 500 2,119 2,027 2,075 Restructuring and other 24 27 37 28 30 37 3 17 34 — 132 54 — Total operating expenses $ 6,644 $ 6,175 $ 6,864 $ 6,370 $ 6,425 $ 6,300 $ 6,558 $ 6,166 $ 6,106 $ 5,820 $ 25,959 $ 24,650 $ 23,003 (a) Amortization of acquired intangible assets. (b) Restructuring. (c) Right-of-use asset impairment and other charges associated with exiting certain leased properties as well as gains and losses associated with early lease terminations and owned property held for sale or sold. (d) Fees related to credit externalization. (e) Gain on divestiture of business, net of transaction costs.

• 27. ©2025 PayPal Holdings, Inc. 27 Reconciliation of GAAP operating income to non-GAAP operating income, Transaction margin dollars, and Transaction margin dollars ex-interest on customer balances and GAAP operating margin to non-GAAP operating margin and Transaction margin Three Months Ended Year Ended December 31, (In Millions, Except Percentages/Unaudited) June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 September 30, 2023 June 30, 2023 March 31, 2023 2024 2023 2022 GAAP operating income $ 1,504 $ 1,530 $ 1,441 $ 1,391 $ 1,325 $ 1,168 $ 1,728 $ 1,168 $ 1,133 $ 999 $ 5,325 $ 5,028 $ 3,837 Amortization of acquired intangible assets 48 47 48 51 52 56 54 58 58 57 207 227 471 Restructuring 92 39 13 35 83 175 4 22 (10) 164 306 180 207 Other — — — — — — (318) 4 — — — (314) — Total non-GAAP operating income adjustments 140 86 61 86 135 231 (260) 84 48 221 513 93 678 Non-GAAP operating income 1,644 1,616 1,502 1,477 1,460 1,399 1,468 1,252 1,181 1,220 5,838 5,121 4,515 Transaction margin adjustments: Customer support and operations 413 398 451 427 436 454 465 474 492 488 1,768 1,919 2,120 Sales and marketing 542 448 586 468 406 379 425 400 423 395 1,839 1,643 2,042 Technology and development 767 731 772 742 713 735 764 730 734 712 2,962 2,940 3,021 General and administrative 454 496 587 512 563 457 547 496 484 500 2,119 2,027 2,075 Restructuring and other 24 27 37 28 30 37 3 17 34 — 132 54 — Non transaction-related expense 2,200 2,100 2,433 2,177 2,148 2,062 2,204 2,117 2,167 2,095 8,820 8,583 9,258 Transaction margin dollars 3,844 3,716 3,935 3,654 3,608 3,461 3,672 3,369 3,348 3,315 14,658 13,704 13,773 Interest on customer balances 318 298 332 339 341 272 286 246 226 160 1,284 918 268 Transaction margin dollars ex-interest on customer balances $ 3,526 $ 3,418 $ 3,603 $ 3,315 $ 3,267 $ 3,189 $ 3,386 $ 3,123 $ 3,122 $ 3,155 $ 13,374 $ 12,786 $ 13,505 GAAP net revenues $ 8,288 $ 7,791 $ 8,366 $ 7,847 $ 7,885 $ 7,699 $ 8,026 $ 7,418 $ 7,287 $ 7,040 $ 31,797 $ 29,771 $ 27,518 GAAP operating margin 18.1 % 19.6 % 17.2 % 17.7 % 16.8 % 15.2 % 21.5 % 15.7 % 15.5 % 14.2 % 16.7 % 16.9 % 13.9 % Non-GAAP operating margin 19.8 % 20.7 % 18.0 % 18.8 % 18.5 % 18.2 % 18.3 % 16.9 % 16.2 % 17.3 % 18.4 % 17.2 % 16.4 % Transaction margin 46.4 % 47.7 % 47.0 % 46.6 % 45.8 % 45.0 % 45.8 % 45.4 % 45.9 % 47.1 % 46.1 % 46.0 % 50.1 %

• 28. ©2025 PayPal Holdings, Inc. 28 Reconciliation of GAAP net income to non-GAAP net income, GAAP diluted EPS to nonGAAP diluted EPS, and GAAP effective tax rate to non-GAAP effective tax rate Three Months Ended Year Ended December 31, (In Millions, Except Percentages and Per Share Amount/Unaudited) June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 September 30, 2023 June 30, 2023 March 31, 2023 2024 2023 2022 GAAP income before income taxes $ 1,529 $ 1,603 $ 1,410 $ 1,311 $ 1,399 $ 1,209 $ 1,793 $ 1,241 $ 1,303 $ 1,074 $ 5,329 $ 5,411 $ 3,366 GAAP income tax expense 268 316 289 301 271 321 391 221 274 279 1,182 1,165 947 GAAP net income 1,261 1,287 1,121 1,010 1,128 888 1,402 1,020 1,029 795 4,147 4,246 2,419 Non-GAAP adjustments to net income: Non-GAAP operating income adjustments (see table above) 140 86 61 86 135 231 (260) 84 48 221 513 93 678 Net (gains) losses on strategic investments and crypto assets held for investment (12) (39) 59 171 6 49 4 (24) (133) (48) 285 (201) 304 Other certain significant gains, losses, or charges — — — — — 31 21 — — 18 31 39 410 Tax effect of non-GAAP adjustments (19) (5) (32) (39) (26) (44) 66 (3) 27 (27) (141) 63 (229) Non-GAAP net income $ 1,370 $ 1,329 $ 1,209 $ 1,228 $ 1,243 $ 1,155 $ 1,233 $ 1,077 $ 971 $ 959 $ 4,835 $ 4,240 $ 3,582 Shares used in diluted share calculation: GAAP 977 999 1,014 1,024 1,047 1,072 1,084 1,098 1,114 1,134 1,039 1,107 1,158 Non-GAAP 977 999 1,014 1,024 1,047 1,072 1,084 1,098 1,114 1,134 1,039 1,107 1,158 Net income per diluted share: GAAP $ 1.29 $ 1.29 $ 1.11 $ 0.99 $ 1.08 $ 0.83 $ 1.29 $ 0.93 $ 0.92 $ 0.70 $ 3.99 $ 3.84 $ 2.09 Non-GAAP $ 1.40 $ 1.33 $ 1.19 $ 1.20 $ 1.19 $ 1.08 $ 1.14 $ 0.98 $ 0.87 $ 0.85 $ 4.65 $ 3.83 $ 3.09 GAAP effective tax rate 18 % 20 % 20 % 23 % 19 % 27 % 22 % 18 % 21 % 26% 22 % 22 % 28 % Tax effect of non-GAAP adjustments to net income (1%) (1%) 1% (1%) —% (5%) (2%) (1%) (1%) (3%) (1%) (2%) (10%) Non-GAAP effective tax rate 17 % 19 % 21 % 22 % 19 % 22 % 20 % 17 % 20 % 23 % 21 % 20 % 18 %

• 29. ©2025 PayPal Holdings, Inc. 29 Reconciliation of operating cash flow to free cash flow and adjusted free cash flow Three Months Ended Year Ended December 31, (In Millions/Unaudited) June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 September 30, 2023 June 30, 2023 March 31, 2023 2024 2023 2022 Net cash provided by (used in) operating activities $ 898 $ 1,160 $ 2,394 $ 1,614 $ 1,525 $ 1,917 $ 2,614 $ 1,259 $ (200) $ 1,170 $ 7,450 $ 4,843 $ 5,813 Less: Purchases of property and equipment (206) (196) (203) (169) (157) (154) (145) (158) (150) (170) (683) (623) (706) Free cash flow 692 964 2,191 1,445 1,368 1,763 2,469 1,101 (350) 1,000 6,767 4,220 5,107 Net timing impact between originating European BNPL receivables as HFS and the subsequent sale of receivables (36) 417 (93) 95 (228) 93 (1,695) 810 1,219 — (133) 334 — Adjusted free cash flow 656 1,381 2,098 1,540 1,140 1,856 774 1,911 869 1,000 6,634 4,554 5,107

• 30. ©2025 PayPal Holdings, Inc. 30 Our key metrics are calculated using internal company data based on the activity we measure on our payments platform and compiled from multiple systems, including systems that are internally developed or acquired through business combinations. While the measurement of our key metrics is based on what we believe to be reasonable methodologies and estimates, there are inherent challenges and limitations in measuring our key metrics globally at scale. The methodologies used to calculate our key metrics require significant judgment. We regularly review our processes for calculating these key metrics, and from time to time we may make adjustments to improve the accuracy or relevance of our metrics. For example, we continuously apply models, processes, and practices designed to detect and prevent fraudulent account creation on our platforms, and work to improve and enhance those capabilities. When we detect a significant volume of illegitimate activity, we generally remove the activity identified from our key metrics. Although such adjustments may impact key metrics reported in prior periods, we generally do not update previously reported key metrics to reflect these subsequent adjustments unless the retrospective impact of process improvements or enhancements is determined by management to be material. Active accounts: An active account is an account registered directly with PayPal or a platform access partner that has completed a transaction on our platform, not including gateway-exclusive transactions, within the past 12 months. A platform access partner is a third party whose customers are provided access to PayPal’s platform or services through such third party’s login credentials, including individuals and entities that utilize Hyperwallet’s payout capabilities. A user may register on our platform to access different products and may register more than one account to access a product. Accordingly, a user may have more than one active account. The number of active accounts provides management with additional perspective on the overall scale of our platform, but may not have a direct relationship to our operating results. Monthly active accounts or “MAA” are a subset of Active Accounts (primarily PayPal and Venmo)1 that have completed a transaction on our platform at least once during the month of measurement. The number of MAAs provides management with perspective on the overall scale of our platform reflecting recent usage but may not have a direct relationship to our operating results. MAAs presented at of the end of a quarter or year are the average of each month’s MAAs in the respective quarter or year.    Number of payment transactions is the total number of payments, net of payment reversals, successfully completed on our payments platform or enabled by PayPal via a partner payment solution, not including gateway-exclusive transactions. Number of payment transactions excluding Unbranded Card Processing2 or “transactions ex. PSP” is the total number of payments, net of reversals, successfully completed on our payments platform or enabled by PayPal via a partner payment solution, excluding all unbranded card processing transactions and gateway-exclusive transactions. Number of payment transactions per active account or “TPA” reflects the total number of payment transactions within the previous 12-month period, divided by active accounts at the end of the period. The number of payment transactions per active account provides management with insight into the average number of times an account engages in payments activity on our payments platform in a given period. The number of times a consumer account or a merchant account transacts on our platform may vary significantly from the average number of payment transactions per active account. Number of payment transactions per active account excluding unbranded card processing2 or “TPA ex. PSP” reflects the total number of payment transactions within the previous 12-month period excluding all unbranded card processing transactions, divided by active accounts at the end of the period excluding unbranded card processing accounts. This metric provides management with insight into the average number of times an account engages in payments activity on our payments platform in a given period, apart from unbranded card processing activity. Definitions (page 1 of 2) (1) MAAs exclude Braintree, Hyperwallet, Zettle, and certain other products that do not reflect engagement from a consumer perspective. (2) Unbranded Card Processing primarily comprises Braintree full-stack transactions and does not include gateway-exclusive transactions. Unbranded processing also includes unbranded credit and debit card processing on the PayPal platform.

• 31. ©2025 PayPal Holdings, Inc. 31 Definitions (page 2 of 2) Total payment volume or “TPV” is the value of payments, net of payment reversals, successfully completed on our payments platform, or enabled by PayPal via a partner payment solution, not including gateway-exclusive transactions. Branded checkout (online) TPV comprises PayPal branded checkout, Pay with Venmo and eBay. P2P & other consumer TPV comprises P2P (PayPal and Venmo), debit (PayPal and Venmo) except when used to fund a branded checkout (online) transaction and remittances. PSP TPV comprises unbranded card processing across the Braintree and PayPal platforms, as well as other merchant solutions (e.g., payouts, invoicing, point-of-sale solutions, etc.). Branded experiences (online & offline) TPV comprises branded checkout (online), debit (PayPal and Venmo) and tap to pay. Venmo TPV comprises Venmo P2P, Pay with Venmo and Venmo debit. Total take rate is total revenue divided by TPV. Transaction take rate is transaction revenue divided by TPV. Transaction expense rate is transaction expense divided by TPV. Transaction loss rate is transaction losses divided by TPV. Credit loss rate is credit losses divided by TPV. Transaction margin or “TM” is total revenue less transaction expense and transaction and credit losses, divided by total revenue. Transaction margin dollars ($) or “TM$” is total revenue less transaction expense and transaction and credit losses. Transaction margin dollars excluding interest on customer balances is total revenue excluding interest on customer balances, less transaction expense and transaction and credit losses. Interest on customer balances is captured as part of Other Value Added Services (OVAS) revenue in this presentation and in our quarterly/annual SEC filings.

• 32. ©2025 PayPal Holdings, Inc. 32 Upcoming calendar Third Quarter 2025 Earnings October 28, 2025