[Q3 2024 Financial and Business Highlights](index=1&type=section&id=Q3_2024_Financial_and_Business_Highlights) Western Union's Q3 2024 featured a GAAP revenue decrease, adjusted growth, significant EPS rise from an IRS settlement, and varied segment performance [Q3 Consolidated Financial Performance](index=1&type=section&id=Q3_Consolidated_Financial_Performance) Western Union reported a 6% GAAP revenue decrease to $1.04 billion in Q3 2024, primarily due to lower contribution from Iraq, while adjusted revenue, excluding Iraq, increased by 1% Revenue Performance | Metric | Q3 2024 (USD Billions) | Q3 2023 (USD Billions) | Reported % Change | Adjusted % Change (excl. Iraq) | | :----- | :--------------------- | :--------------------- | :---------------- | :----------------------------- | | Revenue | $1.04 | $1.10 | (6)% | 1% | EPS Performance | Metric | Q3 2024 (USD) | Q3 2023 (USD) | Reported % Change | | :----- | :------------ | :------------ | :---------------- | | GAAP EPS | $0.78 | $0.46 | 70% | | Adjusted EPS | $0.46 | $0.43 | 7% | - Revenue decline was negatively impacted by **7 percentage points** due to lower contribution from Iraq[1](index=1&type=chunk) - GAAP EPS in Q3 2024 included a **$0.40 benefit** from a settlement with the U.S. Internal Revenue Service regarding 2017 and 2018 federal income tax returns[2](index=2&type=chunk) [Q3 Business Segment Performance](index=1&type=section&id=Q3_Business_Segment_Performance) The Consumer Money Transfer (CMT) segment saw a reported revenue decrease of 9% (8% adjusted), despite a 3% transaction increase, mainly due to Iraq, while Branded Digital and Consumer Services showed strong growth Consumer Money Transfer (CMT) Segment Performance | Metric | Q3 2024 Reported % Change | Q3 2024 Adjusted % Change | Q3 2024 Transactions % Change | | :----- | :------------------------ | :------------------------ | :---------------------------- | | Revenue | (9)% | (8)% | 3% | Branded Digital Business Performance | Metric | Q3 2024 Reported % Change | Q3 2024 Adjusted % Change | Q3 2024 Transactions % Change | % of Total CMT Revenues | % of Total CMT Transactions | | :----- | :------------------------ | :------------------------ | :---------------------------- | :---------------------- | :-------------------------- | | Revenue | 8% | 9% | 15% | 25% | 32% | Consumer Services Segment Performance | Metric | Q3 2024 Reported % Change | Q3 2024 Adjusted % Change | | :----- | :------------------------ | :------------------------ | | Revenue | 32% | 15% | - Consumer Services growth benefited from new and expanded products led by the expansion of the Company's retail foreign exchange business and the addition of the Company's newly launched media network business, as well as the continued strength of the retail money order business[4](index=4&type=chunk) [Q3 Operating and Tax Metrics](index=2&type=section&id=Q3_Operating_and_Tax_Metrics) GAAP operating margin decreased to 15.9% from 19.2% YoY, impacted by redeployment program costs and Russia asset impairments, while adjusted operating margin slightly decreased to 19.1% Operating Margin | Metric | Q3 2024 | Q3 2023 | | :----- | :------ | :------ | | GAAP Operating Margin | 15.9% | 19.2% | | Adjusted Operating Margin | 19.1% | 19.6% | - GAAP operating margin in the current period included redeployment program costs and Russia asset impairments and termination costs[5](index=5&type=chunk) - Adjusted operating margins decreased due to a lower contribution from Iraq and strategic investments in new and expanded products in Consumer Services[5](index=5&type=chunk) Effective Tax Rate | Metric | Q3 2024 | Q3 2023 | | :----- | :------ | :------ | | GAAP Effective Tax Rate | (95.2)% benefit | 16.3% provision | | Adjusted Effective Tax Rate | 8.4% provision | 16.6% provision | - The decrease in the GAAP effective rate was primarily related to the IRS settlement[5](index=5&type=chunk) - The decrease in the adjusted effective tax rate was primarily due to discrete tax benefits[5](index=5&type=chunk) [CEO Commentary on Strategy and Performance](index=1&type=section&id=CEO_Commentary_on_Strategy_and_Performance) CEO Devin McGranahan expressed satisfaction with Q3 results, highlighting continued progress on the Evolve 2025 strategy and consistent transaction growth in Consumer Money Transfer - "We are pleased with third quarter results, which demonstrate continued progress of our Evolve 2025 strategy"[2](index=2&type=chunk) - "We've maintained **mid-single digit transaction growth** in our Consumer Money Transfer business for **five quarters in a row** and are now seeing the effect on revenue, with **positive adjusted consolidated revenue growth** for **two consecutive quarters**, excluding Iraq"[2](index=2&type=chunk) [2024 Financial Outlook](index=2&type=section&id=2024_Financial_Outlook) Western Union revised its GAAP outlook for operating margin and EPS due to specific costs and a tax settlement, while reiterating its adjusted full-year guidance [2024 Outlook Revision and Reiterated Guidance](index=2&type=section&id=2024_Outlook_Revision_and_Reiterated_Guidance) Western Union revised its GAAP operating margin and EPS outlook to account for redeployment program costs, Russia asset impairments, termination costs, and the IRS settlement, while reiterating its full-year 2024 adjusted outlook 2024 Outlook | Metric | GAAP Outlook | Adjusted Outlook | | :----- | :----------- | :--------------- | | Revenue | $4,125 to $4,200 million | $4,150 to $4,225 million | | Operating Margin | 17% to 19% | 19% to 21% | | EPS | $1.94 to $2.04 | $1.70 to $1.80 | - GAAP operating margin and EPS outlook revised to include the impact related to redeployment program costs, Russia asset impairments and termination costs, and the IRS settlement[6](index=6&type=chunk) - Full year 2024 adjusted outlook reiterated based on performance, assuming no material changes in macroeconomic conditions[6](index=6&type=chunk) [Condensed Consolidated Financial Statements](index=5&type=section&id=Condensed_Consolidated_Financial_Statements) This section presents the company's condensed consolidated statements of income, balance sheets, and cash flows for Q3 and YTD 2024, highlighting key financial movements [Statements of Income](index=5&type=section&id=Statements_of_Income) For Q3 2024, revenues decreased by 6% YoY to $1,036.0 million, leading to a 22% decrease in operating income, but net income significantly increased by 55% to $264.8 million due to a tax benefit Q3 and YTD Income Statement Highlights | Metric (in millions, except per share) | Q3 2024 | Q3 2023 | % Change (Q3) | YTD 2024 | YTD 2023 | % Change (YTD) | | :------------------------------------- | :------ | :------ | :------------ | :------- | :------- | :------------- | | Revenues | $1,036.0 | $1,097.8 | (6)% | $3,151.5 | $3,304.7 | (5)% | | Operating income | $164.9 | $210.9 | (22)% | $547.7 | $658.2 | (17)% | | Income before income taxes | $135.7 | $204.3 | (34)% | $470.9 | $601.7 | (22)% | | Provision for/(benefit from) income taxes | $(129.1) | $33.3 | (b) | $(77.6) | $102.7 | (b) | | Net income | $264.8 | $171.0 | 55% | $548.5 | $499.0 | 10% | | Diluted EPS | $0.78 | $0.46 | 70% | $1.61 | $1.33 | 21% | [Balance Sheets](index=7&type=section&id=Balance_Sheets) As of September 30, 2024, total assets decreased to $7,675.8 million from $8,198.8 million at December 31, 2023, primarily due to decreases in cash and settlement assets, while total stockholders' equity increased Balance Sheet Highlights | Metric (in millions) | Sep 30, 2024 | Dec 31, 2023 | | :------------------- | :----------- | :----------- | | Cash and cash equivalents | $1,097.6 | $1,268.6 | | Settlement assets | $3,306.9 | $3,687.0 | | Total assets | $7,675.8 | $8,198.8 | | Total liabilities | $7,023.1 | $7,719.8 | | Total stockholders' equity | $652.7 | $479.0 | [Statements of Cash Flows](index=8&type=section&id=Statements_of_Cash_Flows) For the nine months ended September 30, 2024, net cash provided by operating activities decreased to $272.3 million, while net cash used in investing activities increased, and net cash used in financing activities decreased YTD Cash Flow Highlights | Metric (in millions) | YTD Sep 30, 2024 | YTD Sep 30, 2023 | | :------------------- | :--------------- | :--------------- | | Net income | $548.5 | $499.0 | | Net cash provided by operating activities | $272.3 | $518.6 | | Net cash used in investing activities | $(134.1) | $(76.5) | | Net cash used in financing activities | $(496.8) | $(835.0) | | Net change in cash and cash equivalents | $(358.6) | $(392.9) | [Segment Performance and Key Statistics](index=9&type=section&id=Segment_Performance_and_Key_Statistics) This section details the Q3 and YTD 2024 performance of Western Union's Consumer Money Transfer and Consumer Services segments, including key revenue, transaction, and operating margin trends [Summary Segment Data](index=9&type=section&id=Summary_Segment_Data) In Q3 2024, Consumer Money Transfer (CMT) revenue decreased 9% to $932.2 million, while Consumer Services (CS) revenue grew 32% to $103.8 million, with Business Solutions reporting no revenue due to divestiture Q3 and YTD Segment Revenues | Segment (in millions) | Q3 2024 Revenue | Q3 2023 Revenue | Q3 % Change | YTD 2024 Revenue | YTD 2023 Revenue | YTD % Change | | :-------------------- | :-------------- | :-------------- | :---------- | :--------------- | :--------------- | :----------- | | Consumer Money Transfer | $932.2 | $1,019.0 | (9)% | $2,859.2 | $3,029.5 | (6)% | | Consumer Services | $103.8 | $78.8 | 32% | $292.3 | $245.5 | 19% | | Business Solutions | — | — | (f) | — | $29.7 | (f) | | Total consolidated revenues | $1,036.0 | $1,097.8 | (6)% | $3,151.5 | $3,304.7 | (5)% | Q3 and YTD Segment Operating Income | Segment (in millions) | Q3 2024 Operating Income | Q3 2023 Operating Income | Q3 % Change | YTD 2024 Operating Income | YTD 2023 Operating Income | YTD % Change | | :-------------------- | :----------------------- | :----------------------- | :---------- | :------------------------ | :------------------------ | :----------- | | Consumer Money Transfer | $188.3 | $193.4 | (3)% | $567.4 | $601.9 | (6)% | | Consumer Services | $9.2 | $21.6 | (58)% | $38.9 | $72.1 | (46)% | | Business Solutions | — | — | (f) | — | $3.7 | (f) | | Total consolidated operating income | $164.9 | $210.9 | (22)% | $547.7 | $658.2 | (17)% | [Consolidated Key Metrics](index=10&type=section&id=Consolidated_Key_Metrics) Consolidated GAAP revenues showed a 6% YoY decrease in Q3 2024, while adjusted revenues (excluding Iraq) increased by 1%, with GAAP operating margin at 15.9% and adjusted operating margin at 19.1% Consolidated Revenue and Operating Margin Trends (YoY % Change) | Metric | 3Q23 | 4Q23 | FY2023 | 1Q24 | 2Q24 | 3Q24 | YTD 3Q24 | | :---------------------------------- | :--- | :--- | :----- | :--- | :--- | :--- | :------- | | Revenues (GAAP) | 1% | (4)% | (3)% | 1% | (9)% | (6)% | (5)% | | Adjusted revenues (non-GAAP) | 4% | (1)% | 1% | 3% | (7)% | (6)% | (4)% | | Adjusted revenues, excluding Iraq (non-GAAP) | (4)% | (4)% | (4)% | (1)% | 0% | 1% | 0% | | Operating margin (GAAP) | 19.2% | 15.1% | 18.8% | 18.3% | 17.9% | 15.9% | 17.4% | | Adjusted operating margin (non-GAAP) | 19.6% | 16.1% | 19.6% | 19.7% | 19.0% | 19.1% | 19.2% | [Consumer Money Transfer (CMT) Segment](index=10&type=section&id=Consumer_Money_Transfer_CMT_Segment) The CMT segment experienced a 9% GAAP revenue decrease (8% adjusted) in Q3 2024, primarily due to Iraq, despite a 3% increase in transactions, with cross-border principal remaining flat YoY CMT Revenue, Transactions, and Principal Trends (YoY % Change) | Metric | 3Q23 | 4Q23 | FY2023 | 1Q24 | 2Q24 | 3Q24 | YTD 3Q24 | | :---------------------------------- | :--- | :--- | :----- | :--- | :--- | :--- | :------- | | Revenues (GAAP) | 4% | (1)% | 0% | 3% | (10)% | (9)% | (6)% | | Adjusted revenues (non-GAAP) | 3% | (1)% | 0% | 3% | (9)% | (8)% | (5)% | | Transactions - YoY % change | 5% | 5% | 2% | 6% | 4% | 3% | 4% | | Cross-border principal, as reported - YoY % change | 13% | 8% | 9% | 7% | (6)% | 0% | 0% | | Operating margin | 19.0% | 15.3% | 18.7% | 19.5% | 19.8% | 20.2% | 19.8% | [Branded Digital Performance](index=10&type=section&id=Branded_Digital_Performance) Branded Digital revenues grew 8% (9% adjusted) in Q3 2024, with transactions increasing by 15% YoY, consistently showing positive growth throughout the year Branded Digital Revenue and Transaction Trends (YoY % Change) | Metric | 3Q23 | 4Q23 | FY2023 | 1Q24 | 2Q24 | 3Q24 | YTD 3Q24 | | :------------------------------------------ | :--- | :--- | :----- | :--- | :--- | :--- | :------- | | Branded Digital revenues (GAAP) | 3% | 4% | 0% | 9% | 5% | 8% | 7% | | Adjusted Branded Digital revenues (non-GAAP) | 3% | 4% | 0% | 9% | 7% | 9% | 8% | | Branded Digital transactions - YoY % change | 12% | 13% | 11% | 13% | 13% | 15% | 13% | [Regional CMT Performance](index=11&type=section&id=Regional_CMT_Performance) Regional performance within CMT varied in Q3 2024, with MEASA revenues significantly decreasing by 32% (GAAP) or 31% (Adjusted) due to Iraq, while other regions showed mixed results CMT Regional Revenue and Transaction Trends (Q3 2024 YoY % Change) | Region | GAAP Revenue % Change | Adjusted Revenue % Change | Transactions % Change | | :----- | :-------------------- | :------------------------ | :-------------------- | | NA | (3)% | (3)% | 3% | | EU & CIS | 0% | 1% | 6% | | MEASA | (32)% | (31)% | 0% | | LACA | (2)% | (1)% | (2)% | | APAC | (2)% | 1% | 11% | [Consumer Services (CS) Segment](index=12&type=section&id=Consumer_Services_CS_Segment) The Consumer Services segment demonstrated strong growth in Q3 2024, with GAAP revenues increasing 32% and adjusted revenues increasing 15% YoY, despite a significant decline in operating margin to 8.7% CS Revenue and Operating Margin Trends (YoY % Change) | Metric | 3Q23 | 4Q23 | FY2023 | 1Q24 | 2Q24 | 3Q24 | YTD 3Q24 | | :---------------------------------- | :--- | :--- | :----- | :--- | :--- | :--- | :------- | | Revenues (GAAP) | 22% | (1)% | 13% | 5% | 21% | 32% | 19% | | Adjusted revenues (non-GAAP) | 24% | 6% | 17% | 8% | 14% | 15% | 13% | | Operating margin | 27.5% | 26.6% | 28.7% | 21.3% | 11.0% | 8.7% | 13.3% | [Business Solutions Segment](index=9&type=section&id=Business_Solutions_Segment) The Business Solutions segment was fully divested by July 1, 2023, resulting in no reported revenues or operating income for Q3 or YTD 2024 - The Business Solutions segment was fully divested by **July 1, 2023**, with the final closing of European Union operations[18](index=18&type=chunk) - The divestiture resulted in a gain of **$18.0 million** in Q3 2023[31](index=31&type=chunk) - No revenues or operating income are reported for Business Solutions in 2024 periods[18](index=18&type=chunk) [Non-GAAP Measures and Notes](index=13&type=section&id=Non-GAAP_Measures_and_Notes) This section provides explanations and reconciliations of non-GAAP financial measures, detailing specific adjustments for a clearer understanding of underlying business performance [Explanation of Non-GAAP Measures](index=13&type=section&id=Explanation_of_Non-GAAP_Measures) Western Union presents non-GAAP financial measures to provide supplemental information that management believes is meaningful for understanding the company's financial results, offering comparability and consistency to prior periods, and eliminating currency volatility - Non-GAAP measures provide meaningful supplemental information to assist management, investors, and analysts in understanding financial results[8](index=8&type=chunk) - They offer comparability and consistency to prior periods or eliminate currency volatility, increasing the comparability of underlying results and trends[22](index=22&type=chunk) - A non-GAAP financial measure should not be considered in isolation or as a substitute for the most comparable GAAP financial measure[23](index=23&type=chunk) [Specific Adjustments and Definitions](index=13&type=section&id=Specific_Adjustments_and_Definitions) This section details the specific adjustments made to GAAP figures to arrive at non-GAAP measures, including constant currency, EBITDA, and impacts from acquisition/divestiture activities, redeployment programs, Russia asset impairments, and the IRS settlement Consolidated Metrics Reconciliation (Q3 2024) | Metric (in millions, except per share) | GAAP | Adjustments | Non-GAAP | | :------------------------------------- | :--- | :---------- | :------- | | Revenues | $1,036.0 | $(5.5) (FX/Argentina) | $1,030.5 | | Operating income | $164.9 | $32.6 (various) | $197.5 | | Net income | $264.8 | $(109.8) (various) | $155.0 | | Diluted EPS | $0.78 | $(0.32) (various) | $0.46 | | Effective tax rate | (95)% | 103% (IRS, other) | 8% | - **Constant Currency:** Excludes benefit or loss from foreign exchange fluctuations, net of hedges. Includes Argentina inflation impact where indicated[8](index=8&type=chunk) - **EBITDA:** Operating income adjusted for depreciation and amortization expenses, providing an additional performance measurement[24](index=24&type=chunk) - **Acquisition, Separation, and Integration Costs:** Expenses incurred for acquisition/divestiture activity, including review, closing, and integration costs, excluded from segment operating income[25](index=25&type=chunk) - **Business Solutions Divestiture:** Sale completed in three closings, final one on **July 1, 2023**, resulting in an **$18.0 million gain**. Revenues adjusted to exclude carved-out financial information for comparability[26](index=26&type=chunk)[31](index=31&type=chunk) - **Redeployment Program Costs:** Severance, organizational streamlining, vendor management, real estate, marketing, and people strategy optimizations, including non-cash impairments. Excluded from segment operating income[27](index=27&type=chunk) - **Russia Asset Impairments and Termination Costs:** In Q3 2024, **$12 million** in asset impairments and associated operating costs due to the decision to liquidate or sell Russian assets. Excluded from segment operating income[31](index=31&type=chunk) - **IRS Settlement:** In Q3 2024, a settlement with the U.S. IRS regarding 2017 and 2018 federal income tax returns. The non-cash reversal of the uncertain tax position liability is excluded due to its significance[32](index=32&type=chunk) - **Iraq Revenues:** Revenues from transactions originated in Iraq. Excluded from adjusted revenue measures due to significant volatility and challenges in offering services in the country, to provide better consistency and comparability[8](index=8&type=chunk)

Financial Data and Key Metrics - Revenue for the quarter reached $1.70 billion, reflecting a 7% decrease on an adjusted basis Excluding Iraq, adjusted revenue growth is positive for the first time since 2021 [8] - Earnings per share came in at $0.44, down $0.07 compared to the previous year [9] - Adjusted operating margin was 19%, compared to 21.8% last year, primarily due to elevated Iraq revenues last year and foreign exchange volatility [25] - Consumer money transfer transactions grew 5% excluding Iraq, marking four consecutive quarters of mid-single-digit growth [7] Business Line Data and Key Metrics - Consumer money transfer transactions grew 4% overall and 5% excluding Iraq, driven by branded digital and digital white label businesses [26] - Branded digital adjusted revenue increased 7% with transaction growth of 13%, sustaining double-digit transaction growth for five consecutive quarters [26] - Retail transactions remained stable for the fourth consecutive quarter, with Europe and CIS leading the improvement at 3% growth [28] - Consumer services segment revenue grew 14%, driven by retail foreign exchange, media network, and retail money order businesses [29] Market Data and Key Metrics - North America revenue growth rate was slightly down but grew on an absolute basis, while the Middle East faced a difficult comparison due to higher Iraq contributions last year [27] - Australia digital transactions grew 30% with 14% revenue growth, achieving a 20% higher conversion rate than other APAC countries [17] - Net new independent agent activations in the U.S. increased nearly 50% year-over-year [11] Company Strategy and Industry Competition - The company is implementing its Evolve 2025 Strategy, focusing on improving customer and agent experiences, narrowing the revenue-to-transaction spread, and returning to sustainable, profitable revenue growth [6] - The company has gained market share in 2023 after losing share to aggressive competitors in previous years [9] - Multiple players have exited the remittance space, and others have raised prices, leading to more rational competition [10] - The company is focusing on end-to-end customer experience, increasing direct connections with banks, wallets, and real-time payout networks [20] Management Commentary on Operating Environment and Future Outlook - The World Bank estimates remittance volumes will grow north of 3% this year and next, with the company expecting mid-single-digit principal growth excluding Iraq [10] - The company remains optimistic about market opportunities and expects continued improvement in adjusted revenue excluding Iraq for the remainder of the year [34] - The company is confident in achieving its Evolve 2025 goals, driven by improved transaction trends in digital and retail businesses [23] Other Important Information - The company incurred $9 million in redeployment costs as part of its five-year $150 million expense redeployment program [31] - Year-to-date, the company returned $335 million to shareholders through dividends and share repurchases [33] - The company maintains a strong balance sheet with $1 billion in cash and cash equivalents and $2.6 billion in debt [33] Q&A Session Summary Question: Industry pricing dynamics and competitive landscape - The company noted that the World Bank data indicates some alleviation of price compression globally, with marginal and small players becoming more rational or exiting the market [39] Question: Spread between digital revenue and transaction growth - The company expects the spread to narrow towards the immediate intermediate-term goal of 400 to 500 basis points by the end of the year [66] Question: Retail transaction growth and pricing actions - Retail transactions were closer to flat, and the company expects continued progress in retail, branded digital, and white label businesses [70] Question: Impact of Argentina inflation on branded digital revenues - The company saw a 200 basis point add-back due to strong growth in Australia and FX hedges maturing in the quarter [74] Question: Rollout of Quick Resend and Remember Me products - The company expects full network penetration of these products across the globe by the end of the year [76] Question: Transactions per customer in the 2024 cohort - The company sees sustainable improvements in transactions per customer, particularly in North America and Asia [79] Question: Industry remittance growth outlook - The company is positive on the outlook for the remittance industry, with steady migration trends and resilient customers [83] Question: Market share dynamics - Banks and smaller, less scale players are losing market share, while the company is gaining share [87]

b 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 June 30, 2024 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: 001-32903 THE WESTERN UNION COMPANY (Exact name of registrant as specified in its charter) Delaware (State or Other Jurisdiction of Incorpora ...

[Q2 2024 Financial Results](index=1&type=section&id=Western%20Union%20Reports%20Second%20Quarter%202024%20Results) [Performance Highlights](index=1&type=section&id=Performance%20Highlights) Western Union's Q2 2024 GAAP revenue declined 9%, but adjusted revenue grew positively, driven by a 4% increase in total transactions Q2 2024 Key Financial Metrics | Metric | Q2 2024 | Q2 2023 | Change | Note | | :--- | :--- | :--- | :--- | :--- | | **GAAP Revenue** | $1.07 billion | $1.17 billion | -9% | - | | **Adjusted Revenue** | - | - | -7% | Includes 7% headwind from Iraq | | **GAAP EPS** | $0.41 | $0.47 | -13% | - | | **Adjusted EPS** | $0.44 | $0.51 | -14% | - | | **Total Transactions** | - | - | +4% | Led by 13% growth in Branded Digital | - Excluding the impact from Iraq, the company reported **positive adjusted revenue growth** for the **first time since 2021**, which management views as a sign that its new go-to-market strategy is succeeding[3](index=3&type=chunk) - The revenue decline was primarily driven by lower contributions from Iraq, which negatively impacted the adjusted revenue growth rate by **7 percentage points**, and the sale of the Business Solutions segment[2](index=2&type=chunk) [Business Segment Performance](index=1&type=section&id=Business%20Segment%20Performance) CMT revenue declined 10% (9% adjusted) due to Iraq; Branded Digital grew 7% adjusted revenue and 13% transactions, while Consumer Services revenue increased 21% (14% adjusted) Q2 2024 Segment Revenue Growth (YoY) | Segment | Reported Growth | Adjusted Growth | | :--- | :--- | :--- | | **Consumer Money Transfer (CMT)** | -10% | -9% | | **Branded Digital (within CMT)** | +5% | +7% | | **Consumer Services** | +21% | +14% | - CMT total transactions grew **4%**, but excluding the impact from Iraq, transaction growth was **5%**[4](index=4&type=chunk) - Branded Digital now represents **24%** of total CMT revenues and **31%** of transactions[11](index=11&type=chunk) [Profitability and Margins](index=2&type=section&id=Profitability%20and%20Margins) Q2 2024 GAAP and adjusted operating margins declined due to lower Iraq revenue and foreign currency volatility; GAAP effective tax rate decreased significantly Q2 Operating Margin and Tax Rate | Metric | Q2 2024 | Q2 2023 | | :--- | :--- | :--- | | **GAAP Operating Margin** | 17.9% | 20.7% | | **Adjusted Operating Margin** | 19.0% | 21.8% | | **GAAP Effective Tax Rate** | 14.7% | 18.6% | | **Adjusted Effective Tax Rate** | 16.0% | 16.0% | [2024 Full-Year Outlook](index=2&type=section&id=2024%20Outlook) The company reiterated its full-year 2024 financial outlook, projecting GAAP revenue of $4.125-$4.200 billion and adjusted EPS of $1.70-$1.80 Full-Year 2024 Guidance (in millions) | Metric | GAAP | Adjusted | | :--- | :--- | :--- | | **Revenue** | $4,125M - $4,200M | $4,150M - $4,225M | | **Operating Margin** | 18% - 20% | 19% - 21% | | **EPS** | $1.62 - $1.72 | $1.70 - $1.80 | - The outlook assumes revenue from Iraq will be between **$10 million** and **$30 million** per quarter for the rest of the year[8](index=8&type=chunk) [Consolidated Financial Statements (Unaudited)](index=6&type=section&id=Consolidated%20Financial%20Statements%20%28Unaudited%29) [Condensed Consolidated Statements of Income](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) Q2 2024 revenues decreased 9% to **$1.066 billion**, operating income fell 21% to **$190.7 million**, and net income declined 20% to **$141.0 million**, with diluted EPS at **$0.41** Q2 2024 Income Statement Highlights (in millions, except EPS) | Line Item | Q2 2024 | Q2 2023 | % Change | | :--- | :--- | :--- | :--- | | **Revenues** | $1,066.4 | $1,170.0 | (9)% | | **Operating Income** | $190.7 | $242.6 | (21)% | | **Net Income** | $141.0 | $176.2 | (20)% | | **Diluted EPS** | $0.41 | $0.47 | (13)% | [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2024, total assets were **$7.97 billion**, cash and equivalents **$1.03 billion**, total liabilities **$7.53 billion**, and stockholders' equity **$440.8 million**, all slightly down from year-end 2023 Balance Sheet Summary (in millions) | Account | June 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | **Cash and cash equivalents** | $1,033.0 | $1,268.6 | | **Total Assets** | $7,971.3 | $8,198.8 | | **Borrowings** | $2,635.8 | $2,504.6 | | **Total Liabilities** | $7,530.5 | $7,719.8 | | **Total Stockholders' Equity** | $440.8 | $479.0 | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the six months ended June 30, 2024, net cash from operating activities significantly decreased to **$60.2 million**, with **$68.4 million** used in investing and **$292.6 million** in financing, including **$180.8 million** in share repurchases Six Months Ended June 30 Cash Flow Highlights (in millions) | Cash Flow Activity | 2024 | 2023 | | :--- | :--- | :--- | | **Net Cash from Operating Activities** | $60.2 | $264.0 | | **Net Cash used in Investing Activities** | $(68.4) | $(65.1) | | **Net Cash used in Financing Activities** | $(292.6) | $(609.5) | | **Cash Dividends Paid** | $(162.3) | $(178.7) | | **Common Stock Repurchased** | $(180.8) | $(6.0) | [Supplemental Financial Information](index=9&type=section&id=Supplemental%20Financial%20Information) [Summary Segment Data](index=9&type=section&id=Summary%20Segment%20Data) Q2 2024 CMT revenue was **$965.0 million** (down 10%) with a **19.8%** operating margin; Consumer Services revenue grew **21%** to **$101.4 million**, but its operating margin contracted to **11.0%** Q2 2024 Segment Performance (in millions) | Segment | Revenue | Revenue % Change | Operating Income | Operating Margin | | :--- | :--- | :--- | :--- | :--- | | **Consumer Money Transfer** | $965.0 | (10)% | $191.5 | 19.8% | | **Consumer Services** | $101.4 | 21% | $11.1 | 11.0% | | **Business Solutions** | $— | N/A | $— | N/A | [Key Statistics](index=10&type=section&id=Key%20Statistics) Q2 2024 consolidated adjusted revenue fell **7%**, CMT transactions grew **4%**, Branded Digital transactions grew **13%**, and MEASA revenue declined **35%** due to Iraq, while LACA grew **8%** [Consolidated and CMT Metrics](index=10&type=section&id=Consolidated%20and%20CMT%20Metrics) Q2 2024 Key Performance Indicators (YoY % Change) | Metric | Q2 2024 Change | | :--- | :--- | | **Consolidated Adjusted Revenues** | (7)% | | **CMT Transactions** | 4% | | **CMT Cross-border Principal (Reported)** | (6)% | | **Branded Digital Revenues (Adjusted)** | 7% | | **Branded Digital Transactions** | 13% | [CMT Regional Metrics](index=11&type=section&id=CMT%20Regional%20Metrics) Q2 2024 CMT Regional Performance (YoY % Change) | Region | GAAP Revenue | Adjusted Revenue | Transactions | | :--- | :--- | :--- | :--- | | **NA** | 1% | 1% | 6% | | **EU & CIS** | (6)% | (4)% | 3% | | **MEASA** | (35)% | (35)% | 0% | | **LACA** | 8% | 8% | 2% | | **APAC** | (11)% | (5)% | 6% | [Reconciliation of Non-GAAP Measures](index=13&type=section&id=Reconciliation%20of%20Non-GAAP%20Measures) This section details GAAP to non-GAAP reconciliations, with Q2 2024 adjustments for foreign currency, Business Solutions sale, redeployment, and acquisition costs, adjusting GAAP operating income from **$190.7 million** to **$202.6 million** Q2 2024 Reconciliation of Operating Income (in millions) | Description | Amount | | :--- | :--- | | **Operating income (GAAP)** | **$190.7** | | Acquisition, separation, and integration costs | $0.5 | | Amortization of acquisition related intangible assets | $2.0 | | Redeployment program costs | $9.4 | | **Adjusted operating income (non-GAAP)** | **$202.6** | Reconciliation of Diluted EPS | Description | Q2 2024 | | :--- | :--- | | **Diluted EPS (GAAP)** | **$0.41** | | Pretax impact from Amortization | $0.01 | | Pretax impact from Redeployment program costs | $0.03 | | Income tax benefit impacts | $(0.01) | | **Adjusted diluted EPS (non-GAAP)** | **$0.44** | [Other Information](index=3&type=section&id=Other%20Information) [Investor and Analyst Conference Call](index=3&type=section&id=Investor%20and%20Analyst%20Conference%20Call) A conference call and webcast for investors and analysts is scheduled for 4:30 p.m. ET on July 30, 2024, to discuss quarterly results, with details available online - A conference call and webcast is scheduled for **4:30 p.m. ET on July 30, 2024**[14](index=14&type=chunk) - The webcast, presentation, and replay will be available on the company's investor relations website[14](index=14&type=chunk) [Safe Harbor Compliance Statement](index=4&type=section&id=Safe%20Harbor%20Compliance%20Statement) This section provides a forward-looking statements disclaimer, highlighting risks such as economic conditions, competition, geopolitical tensions, regulatory changes, and cybersecurity threats - The press release contains forward-looking statements that are not guarantees of future performance and involve risks and uncertainties[16](index=16&type=chunk) - Key risk factors include changes in economic conditions, competition, geopolitical tensions, regulatory compliance failures, and cybersecurity breaches[17](index=17&type=chunk) [About Western Union](index=5&type=section&id=About%20Western%20Union) Western Union is a global leader in cross-border, cross-currency money movement, operating in over **200 countries** and **130 currencies** with a vast network of bank accounts, digital wallets, and retail locations - Western Union operates in over **200 countries and territories** and more than **130 currencies**[19](index=19&type=chunk) - The company's network includes billions of bank accounts, millions of digital wallets and cards, and hundreds of thousands of retail locations[19](index=19&type=chunk)

The Western Union Company (NYSE:WU) Q1 2024 Earnings Conference Call April 24, 2024 4:30 PM ET Company Participants Tom Hadley - Head of IR Devin McGranahan - CEO Matt Cagwin - CFO Conference Call Participants Tien-Tsin Huang - JPMorgan Timothy Chiodo - Credit Suisse Will Nance - Goldman Sachs Andrew Schmidt - Citi Vasundhara Govil - KBW Ken Suchoski - Autonomous Jason Kupferberg - Bank of America Bryan Keane - Deutsche Bank James Faucette - Morgan Stanley Operator Good day and welcome to the Western Union ...

b 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 March 31, 2024 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: 001-32903 THE WESTERN UNION COMPANY (Exact name of registrant as specified in its charter) Delaware (State or Other Jurisdiction of Incorpor ...

Exhibit 99.1 FOR IMMEDIATE RELEASE Western Union Reports First Quarter 2024 Results • Q1 GAAP revenue of $1.05 billion, up 1% on a reported basis, or up 3% on an adjusted basis • Q1 GAAP EPS of $0.41, up 3% or adjusted EPS of $0.45, up 5% • Consumer Money Transfer transactions grew 6% in Q1 led by 13% growth in Branded Digital transactions • Branded Digital revenue grew 9% on reported and adjusted basis • Raised 2024 full year guidance for revenue and EPS DENVER, April 24, 2024 – The Western Union Company ( ...

FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2023 ☐ 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: 001-32903 THE WESTERN UNION COMPANY Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OR (Exact name of registrant as specified in its charter) Registrant's telephone number, includ ...

The Western Union Company (NYSE:WU) Q4 2023 Earnings Conference Call February 6, 2024 4:30 PM ET Company Participants Tom Hadley - Head of Investor Relations Devin McGranahan - Chief Executive Officer Matt Cagwin - Chief Financial Officer Conference Call Participants Will Nance - Goldman Sachs Andrew Schmidt - Citi Tien-Tsin Huang - JPMorgan Darrin Peller - Wolfe Research Ken Suchoski - Autonomous Tyler DuPont - Bank of America Operator Good day and welcome to the Western Union Fourth Quarter 2023 Results C ...

The Western Union Company (NYSE:WU) Q3 2023 Earnings Conference Call October 25, 2023 4:30 PM ET Company Participants Tom Hadley - Head, IR Devin McGranahan - CEO Matt Cagwin - CFO Conference Call Participants Tien-Tsin Huang - JPMorgan Jason Kupferberg - Bank of America Will Nance - Goldman Sachs Andrew Schmidt - Citi Timothy Chiodo - UBS Ramsey El Assal - Barclays Bryan Keane - Deutsche Bank James Fawcett - Morgan Stanley Cristopher Kennedy - William Blair Operator Good day, and welcome to the Western Uni ...