Non-GAAP Financial Measures 2Q 2025 Investor Presentation NASDAQ:PAYO | August 6, 2025 Disclaimers This presentation does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any security. You should not construe the contents of this presentation as legal, tax, accounting or investment advice or a recommendation. Forward-Looking Statements Certain statements in this presentation may be considered "forward- looking statements" within the meaning of the "safe har ...

Payoneer Global (PAYO) FY Conference Summary Company Overview - **Company**: Payoneer Global (PAYO) - **Industry**: Fintech and Payment Services - **Key Executives Present**: CEO John Kaplan, CFO Pete Ordonez Core Industry Insights - **Global Economic Trends**: The digitization of global commerce, globalization of workforces, and diversification of global trade are significant trends benefiting Payoneer [5][6] - **Tariff Environment**: Current tariff situations present short-term headwinds but are expected to create long-term opportunities for growth [5] Financial Performance - **EBITDA Growth**: Payoneer reported an EBITDA of $270 million in 2024, a significant increase from $28 million in 2021 [2][11] - **Revenue Growth**: Revenue grew by 20% in 2025, with Q1 showing a 16% increase [12][39] - **Customer Funds**: The company holds approximately $7 billion in customer funds, which generates interest income despite no yield being paid to customers [10][42] - **Revenue Composition**: 90% of revenue comes from 550,000 ideal customer profiles (ICPs), which represent over 50% of total revenue [29][30] Market Position and Strategy - **Market Share**: Payoneer has a single-digit market share in key global markets and aims to expand its presence [26] - **Customer Segments**: Focus on B2B SMBs and marketplace sellers, with a 20% market share in the latter [27][28] - **Product Diversification**: The company is expanding its product offerings, including accounts payable solutions and workforce management tools [15][32] Competitive Advantages - **Branded Relationships**: Strong partnerships with major marketplaces like Amazon, eBay, and Alibaba enhance Payoneer's market position [20][22] - **Local Presence**: Payoneer operates in 90 countries, providing localized support and services, which is a significant competitive advantage [25] - **Technological Edge**: The company offers advanced financial solutions that traditional banks cannot match, such as multi-currency accounts and 24/7 support [26][24] Future Outlook - **Growth Projections**: The management team aims for mid-teens revenue growth and 25% adjusted EBITDA margins in the medium term [38] - **Investment in Growth**: Payoneer has a strong balance sheet with $500 million in cash and no debt, allowing for continued investment in growth and shareholder returns [36][50] Investor Insights - **Market Misunderstandings**: There is a perceived disconnect between Payoneer's financial performance and investor understanding, particularly regarding the value of customer funds and the company's growth potential [41][42] - **Take Rate Dynamics**: Contrary to industry trends, Payoneer has successfully expanded its take rates, indicating strong pricing power [48][49] Conclusion - Payoneer is well-positioned to capitalize on the growing demand for cross-border financial services, with a robust business model, strong financial performance, and a clear strategy for future growth. The company encourages investors to engage more deeply with its business model to fully appreciate its value proposition and growth potential [51].

Financial Performance & Growth - Payoneer's total revenue for 1Q25 was $247 million, representing an 8% year-over-year growth[109] - Revenue excluding interest income for 1Q25 was $189 million, a 16% year-over-year increase[109] - Adjusted EBITDA for 1Q25 was $65 million, with an adjusted EBITDA margin of 27%[109] - Customer funds grew by 11% year-over-year, reaching $6.6 billion[85] Customer & Regional Growth - Active Ideal Customer Profiles (ICPs) totaled 556,000 as of March 31, 2025, a 5% year-over-year increase[42, 116] - Revenue from the APAC region grew by 23% year-over-year in 1Q25[116] - Revenue from the LATAM region grew by 21% year-over-year in 1Q25[116] Product & Service Expansion - B2B SMBs revenue increased by 37% year-over-year in 1Q25[113] - Merchant services revenue increased by 96% year-over-year in 1Q25[113] - 53% of customers are using 3+ AP products in Q4'24, compared to 40% in Q1'22[32, 64] Strategy & Outlook - The company is suspending its previously issued full-year 2025 guidance due to macroeconomic uncertainty[118] - The company is targeting mid-teens revenue growth and a 25% adjusted EBITDA margin in the medium term (through 2026)[99, 100, 101]