Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-16111 GLOBAL PAYMENTS INC. (Exact name of registrant as specified in charter) | Georgia | 58-2567903 | | --- | --- | ...

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Global Payments, Inc. (EVOP) Q2 2022 Earnings Conference Call August 3, 2022 8:00 AM ET Company Participants Winnie Smith - SVP, IR Jeffrey Sloan - CEO & Director Cameron Bready - President & COO Joshua Whipple - CFO Conference Call Participants Darrin Peller - Wolfe Research Bryan Keane - Deutsche Bank David Koning - Robert W. Baird & Co. Robert Napoli - William Blair & Company Ramsey El-Assal - Barclays Bank James Friedman - Susquehanna Financial Group Operator Ladies and gentlemen, thank you for standing ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-16111 GLOBAL PAYMENTS INC. (Exact name of registrant as specified in charter) | Georgia | 58-2567903 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer | | incorporation or organization) | Identification No.) | | 3550 Lenox Road, Atlanta, Georgia | 30326 | | (Address of princ ...

Financial Data and Key Metrics Changes - In Q1 2022, EVO Payments reported a volume growth of 26% compared to Q1 2021, marking the third consecutive quarter of volume acceleration [9] - Revenue grew by 23% on a constant currency basis, adjusted EBITDA increased by 21%, and the margin remained flat at 32% compared to the prior year [9][26] - Adjusted net income for the quarter increased by 51% to $19 million, with adjusted net income per share rising by 54% to $0.20 [28] Business Line Data and Key Metrics Changes - In Europe, constant currency revenue increased by 51% and volume increased by 40%, driven by strong sales execution and the lifting of COVID-related restrictions [12] - In the Americas, constant currency revenue increased by 9%, with an 11% volume growth attributed to bank referral channels in Mexico and Chile [21] - The tech-enabled channel in the U.S. saw a revenue increase of 13%, reflecting growth in ISV and B2B segments [23] Market Data and Key Metrics Changes - The Polish market experienced a significant increase in revenue and volume due to the influx of Ukrainian refugees, with volume up about 50% and revenue also reflecting strong growth [41][56] - The overall European market showed broad-based growth across all sectors, with a notable increase in cross-border activity and DCC revenue tripling compared to the prior year [12][27] Company Strategy and Development Direction - The company is focused on investing in technology-driven solutions to support card adoption in developing markets, particularly in Latin America and Central and Eastern Europe [35] - There is a strong emphasis on expanding tech-enabled referral networks and enhancing integrated software capabilities across all markets [15][35] - The company is preparing to launch operations in Greece, anticipating regulatory approval in Q4 2022, and is actively seeking growth opportunities in Central and South America [16][67] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the sales momentum generated in early 2022, despite global economic uncertainties stemming from the Ukraine crisis and inflation [11][30] - The company is maintaining its 2022 guidance for revenue growth of 11% to 13% and adjusted EBITDA growth of 13% to 15%, while expecting to perform at the mid- to high end of these ranges [30][31] - Management highlighted the importance of continued investment in products and services to drive long-term growth and shareholder value [37] Other Important Information - The company reported a free cash flow increase of 67% to $28 million, with a free cash flow conversion rate of 71% [29] - Capital expenditures for Q1 2022 were $8 million, down from $11 million in Q1 2021, with a focus on terminals to support new merchant onboarding [29] Q&A Session Summary Question: What contributed to the strong performance in Europe? - Management attributed the performance to excellent new merchant sales across all channels, particularly in tech-enabled divisions, and a recovery in travel and consumer spending as COVID restrictions eased [40] Question: How are trends in April affecting guidance? - Management indicated that they are maintaining guidance due to positive trends observed in various markets, while remaining cautious about potential economic impacts from the Ukraine crisis and inflation [44] Question: What is the expected impact of DCC normalizing to 2019 levels? - Management expects DCC to increase about 10% relative to full year 2019 levels, which is factored into their outlook [51] Question: What is the status of the Greece joint venture? - The company anticipates launching operations in Greece by Q4 2022, with significant preparatory work already underway [66][81] Question: How is the B2B business performing? - The B2B segment continues to show strong growth, with a focus on signing new partners and leveraging existing relationships to drive sales [82]

First Quarter 2022- Business Update May 4, 2022 Forward-Looking Statements & Non-GAAP Financial Measures Forward-Looking Statements This presentation contains certain forward-looking statements within the meaning of the U.S. federal securities laws. These forward-looking statements, which are based on current expectations, estimates and projections about the industry and markets in which we operate, and beliefs of and assumptions made by our management, involve risks and uncertainties, many of which are bey ...

Financial Performance - Consolidated revenues for Q1 2022 increased by 8.4% to $2,156.3 million compared to $1,990.0 million in Q1 2021, driven by growth in transaction volumes and digital payment solutions[73]. - Operating income for Q1 2022 rose to $375.9 million, up 36.6% from $275.3 million in Q1 2021, with an operating margin increase to 17.4% from 13.8%[73]. - Merchant Solutions segment revenues increased by 16.2% to $1,473.0 million in Q1 2022, compared to $1,267.9 million in Q1 2021, attributed to a growing customer base and economic recovery[83]. - Issuer Solutions segment revenues grew by 2.2% to $511.5 million in Q1 2022, compared to $500.3 million in Q1 2021, benefiting from the inclusion of the recently acquired MineralTree business[84]. - Business and Consumer Solutions segment revenues decreased to $195.8 million in Q1 2022 from $243.6 million in Q1 2021, impacted by the absence of prior year stimulus-related spending[85]. - Net income attributable to Global Payments increased to $244.7 million for the three months ended March 31, 2022, compared to $196.7 million for the prior year[93]. - Diluted earnings per share rose to $0.87 for the three months ended March 31, 2022, compared to $0.66 for the prior year[94]. Expenses and Costs - Cost of service for Q1 2022 increased by 3.4% to $957.2 million, while as a percentage of revenues, it decreased to 44.4% from 46.5% in the prior year[86]. - Selling, general and administrative expenses rose by 4.3% to $823.1 million in Q1 2022, with a decrease in percentage of revenues to 38.2% from 39.7% in the prior year[87]. - Corporate expenses decreased by $34.8 million to $160.3 million for the three months ended March 31, 2022, compared to $195.1 million for the prior year, primarily due to lower acquisition and integration expenses[88]. Cash Flow and Investments - Operating activities provided net cash of $630.0 million for the three months ended March 31, 2022, up from $599.4 million for the prior year[101]. - Capital expenditures increased to $156.1 million for the three months ended March 31, 2022, compared to $86.2 million for the prior year, focusing on new technologies and infrastructure[102]. - The company had cash and cash equivalents totaling $2,045.3 million as of March 31, 2022, with $797.3 million available for general purposes[99]. - The company used $649.7 million for share repurchases during the three months ended March 31, 2022, compared to $803.0 million for the prior year[106]. Tax and Debt - The effective income tax rate increased to 18.4% for the three months ended March 31, 2022, from 10.5% for the prior year, primarily due to changes in valuation allowances[92]. - As of March 31, 2022, the company had $9.4 billion in aggregate principal amount of senior unsecured notes, maturing at various dates from June 2023 to August 2049[108]. Risks and Uncertainties - The company acknowledges that forward-looking statements are based on assumptions and are subject to significant risks and uncertainties, which may lead to actual results differing materially from expectations[117]. - The company emphasizes the potential impact of global events, including the COVID-19 pandemic and geopolitical tensions, on its operations and financial performance[117]. - Integration challenges and costs related to the acquisition of Global Payments and Total System Services, Inc. are highlighted as potential risks[117]. - The company faces risks associated with compliance to payment network requirements and maintaining necessary registrations[117]. - Increased competition in existing markets and the ability to expand into new markets are identified as critical factors for future growth[117]. - The company must manage risks related to data security and operational failures, which could affect its business[117]. - Environmental, social, and governance targets are noted as important commitments that the company aims to meet[117]. - The company warns of potential impacts from changes in laws and regulations, particularly regarding privacy and cybersecurity[117]. - The company disclaims any obligation to update forward-looking statements, except as required by law[118]. - For detailed market risk exposure, the company refers to its Annual Report on Form 10-K for the year ended December 31, 2021[119]. Future Outlook - The company expects to recognize a charge of approximately $130 million in Q2 2022 related to the sale of its merchant business in Russia due to sanctions imposed following the invasion of Ukraine[75]. - Currency exchange rate fluctuations negatively impacted consolidated revenues by approximately $14.7 million and operating income by approximately $4.7 million in Q1 2022[76]. - The company continues to invest in new technology solutions and innovation, focusing on enhancing its technology and cloud-based solutions[72].

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Financial Data and Key Metrics Changes - The company reported a volume growth of 21% compared to Q4 2020 and 16% compared to Q4 2019 [9] - Constant currency revenue grew by 17%, adjusted EBITDA increased by 15%, and the margin remained at 38% [9][40] - For the full year, constant currency revenue grew by 11%, adjusted EBITDA increased by 20%, and the margin expanded by 250 basis points to 36% [43][52] Business Line Data and Key Metrics Changes - In Europe, constant currency revenue increased by 29%, with a corresponding 29% volume growth [20] - In the Americas, constant currency revenue increased by 10%, reflecting a 13% volume growth [31] - The tech-enabled division signed over 150 partners and completed two gateway acquisitions, enhancing product capabilities [14] Market Data and Key Metrics Changes - The European segment saw strong growth in cross-border activity and DCC revenue, which doubled compared to Q4 2020 [45] - In Latin America, particularly Chile, the merchant portfolio expanded over 50% compared to Q3 2021 [32] - The U.S. e-commerce business is being repositioned to focus on higher-margin direct integrations, moving away from lower-margin third-party gateways [38][109] Company Strategy and Development Direction - The company is focused on expanding its international markets with low card penetration, such as Chile and Greece, and enhancing its tech-enabled referral network [18] - A long-term strategic relationship with the National Bank of Greece is expected to significantly increase the merchant portfolio size [13] - The company aims to leverage its recent investments and capitalize on cash-to-card conversion trends to drive growth [44][80] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the economic outlook, anticipating solid growth despite inflationary pressures [52] - The company expects to see continued growth in volumes and merchant portfolio expansion in 2022 [55] - Management noted that the impact of the Omicron variant was less severe than previous variants, allowing for better volume growth [62] Other Important Information - The company appointed two new board members and launched an ESG website to enhance transparency regarding corporate responsibility initiatives [15] - Free cash flow increased by 24% to $38 million, with a free cash flow conversion of 77% [50] - The company has over $200 million in available cash and a strong capital position, reducing leverage from 2.9 times to 2.2 times [51] Q&A Session Summary Question: When do you expect to close the acquisition in Greece? - Management anticipates closing the acquisition in the second half of the year, pending regulatory approval [57][60] Question: How did Omicron affect your business in Q4? - The impact was less severe compared to Delta, with encouraging volume growth despite some restrictions [61][62] Question: What is the outlook for bank partnership opportunities in Latin America? - The company is actively exploring opportunities in Colombia, Peru, Argentina, and Ecuador, with a favorable regulatory environment [70][71] Question: How does inflation impact the business? - Inflation could provide a modest lift in volumes and revenue per transaction, as long as it remains manageable [79][80] Question: What is the competitive advantage in the U.S. e-commerce business? - The company positions itself as a fully integrated solution with a collaborative sales approach, leveraging high-quality technology [105][106]

Fourth Quarter 2021 - Business Update Feb 23, 2022 Table of Contents 2 Fourth Quarter 2021 Business Update | Feb 23, 2022 Disclosures 3 2021 Accomplishments 4 Payment Volumes 7 Appendix 11 EVO 8 Europe 9 Americas 10 Disclosures Disclaimers & Non-GAAP Financial Measures This presentation is being delivered on behalf of EVO Payments, Inc. (the "Company"). The sole purpose of this presentation is to provide select information relating to the Company. This presentation is not all-inclusive and does not contain ...