Visa Investor Presentation — January 2021

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Fiscal First Quarter 2021

Financial ResultsVisa Inc.

January 28, 2021©2021 Visa. All rights reserved. 1 Fiscal First Quarter 2021 Financial ResultsFiscal First Quarter 2021 Results

YoY Increase / (Decrease)Net

RevenuesClient Incentives

Gross Revenue Operating Expense Effective Tax RateDiluted Class A

GAAP Nominal -Dollar Basis

(6%)* 24.6%(10%) 16.6% (3%)

Non-GAAP Nominal -Dollar Basis(1) (10% ) 16.6% (3%)

Foreign Currency Impact (~0.5% ) (~0.5% ) (~1%)

Acquisition Impact ~0% 0% (~0.5% ) 0% ~0%

Adjusted Constant -Dollar Basis(2) (7%) 24.6% (10%) 16.6% (4%)

(1)Non-GAAP results exclude equity investment gains and losses, amortization of acquired intangible assets for acquisitions in fiscal yea r 2019 and subsequent

periods, and non -recurring acquisition -related costs.

(2)Adjusted financial results are on a constant -dollar basis and exclude the impact of the non -GAAP items and operating revenues an d expenses of the acquired

entities that were not in the entire quarter of the previous year and the incremental interest expense or forgone interest in come as a result of funding the

acquisition through debt or cash, respectively. * Had we recognized service revenues on current quarter payments volume and other revenue components remained unchanged, it would have had minimal impact

on our net revenue growth.

Note: Refer to Non -GAAP and Adjusted Constant -Dollar Results Footnote for further information. ©2021 Visa. All rights reserved. 2 Fiscal First Quarter 2021 Financial ResultsWe consider non -GAAP measures useful to investors because they provide greater transparency into management ´s view and assessment of