Disruption abets Inclusion

Payment Disruption abets Financial Inclusion

2017 PayPal Inc. Confidential and proprietary.

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2Mass Adoptionof Mobile Devices

Digitization of Cash

2016 PayPal Inc. Confidential and proprietary.Money ischanging2017 PayPal Inc. Confidential and proprietary.

The world of financial services is being redefined by mobile and digitization.

Mobile is changing everything.

Blurring the distinction between offline and online and putting the power of a bank branch in the palm of a consumers hand.

And this is opening up huge opportunity for us.2

2017 PayPal Inc. Confidential and proprietary.

Democratizing Financial Services

37.7 billion mobile connections worldwide12 billion adults around the world dont have a bank account2$138 billion is being spent by the underserved to manage financial lives3FDIC says that 1 in 13 or 25 million US households are underbanked72% of consumers in India want access to more financial products and services41GSMA Intelligence, Real-Time Mobile Connections Tracker, May 2016 https://www.gsmaintelligence.com/2World Bank, Massive Drop in Number of Unbanked, April 2015 http://www.worldbank.org/en/news/press-release/2015/04/15/massive-drop-in-number-of-unbanked-says-new-report3 Center for Financial Services Innovation (CFSI) Underserved Market Size Study, December 2015 4 PayPal, New Money Survey, 2015Financial services is ripe for disruption2017 PayPal Inc. Confidential and proprietary.

With mobile solutions we can disrupt financial services Bring solutions to billions of people across the world that can help them move, manage and spend their moneyGive financial control to more than 2 billion adults around the world who do not have a bank account and the many more who are underserved by the financial system today.In this system, $138B is being spent by the underserved to manage financial livesIn the US, the FDIC reports that 1 in 13 households are entirely underserved by the financial system. In India our new money survey unveiled that 72% f consumers wish they had access to more financial products including better money management and credit options Managing and moving money should be a right for all citizens, not a privilege for the affluent.We are reimagining money with technology to better serve everyone. 3

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2016 PayPal Inc. Confidential and proprietary.

(1)The Global Findex Database 2014 - World Bank Policy Research Working Paper 7255Democratizing financial servicesUnleashes 2 billion people to fulfill their dreams(1)

We have two driving themes inside of PayPal. The first revolves around our customers and that is the democratization of financial services.

2 billion individuals poorly served by the existing financial system.

And that just doesnt need to be the case with the explosion of mobile and software platforms. 4

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2016 PayPal Inc. Confidential and proprietary.(1)The Global Findex Database 2014 - World Bank Policy Research Working Paper 7255

We have two driving themes inside of PayPal. The first revolves around our customers and that is the democratization of financial services.

2 billion individuals poorly served by the existing financial system.

And that just doesnt need to be the case with the explosion of mobile and software platforms. 5