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2019 Annual Report History Informs the Future Euronet Empowers financial Inclusion Across the Globe

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2019 Annual Report History Informs the Future Euronet Empowers financial Inclusion Across the Globe 2019 Annual Report History Informs the Future Euronet empowers financial inclusion across the globe. 1 Bridging the Gap Between Cash and Digital ! Ria Ria's powerful app allows customers to stage a transaction on their smartphones and pay for it later at a Ria agent or store location. The technology empowers them to send money directly to their family or friends who can collect the payout in the most convenient manner for them including at an ATM, a Ria agent location or direct deposit into a bank account. 3 Connecting Consumers, Retailers and Brands with Innovative Payments Solutions ! Digital Wallet Consumers have shown shifting behavioral patterns to mobile and smartphone-powered payments. Euronet and its epay business segment are pioneering innovations in digital spaces and retail checkout lanes that bring convenience to consumers and more efcient customer experiences to retailers and brands through payments based on PINs, QR codes, barcodes, graphics, biometrics and other mobile-based alternative payments. 5 6 Providing Currency Information and Payments. Anywhere. Anytime. ! XE The XE app has been downloaded more than 80 million times. Consumers trust it for accurate and reliable exchange rates and quick, easy and secure international money transfers all in one place. 7 8 Embracing Technology to Secure Withdrawals at Any ATM ! BLIK Euronet's network of ATMs allows customers to withdraw their funds anytime from thousands of locations worldwide. By integrating with banking wallet technologies such as BLIK in Poland, Euronet provides an added layer of security and convenience to each transaction for mobile-savvy customers. 9 10 Euronet: A Force in Driving the Payments Landscape and Industry Forward With physical and digital assets established and technology built for now and the future, the best is yet to come for Euronet. With a rich history of innovation, Euronet is well positioned to continue driving payments inclusion worldwide and the rapid growth the company has experienced since 1994. 11 11 A Leader in Secure Financial Transactions for 25 Years Euronet Worldwide is an industry leader in processing Euronet's global payment network is extensive - secure electronic financial transactions. The Company including 50,457 ATMs, approximately 330,000 EFT POS ofers payment and transaction processing solutions terminals and a growing portfolio of outsourced debit to financial institutions, retailers, service providers and credit card services which are under management and individual consumers. These services include in 61 countries; card software solutions; a prepaid comprehensive ATM, POS and card outsourcing processing network of approximately 728,000 POS services, card issuing and merchant acquiring services, terminals at approximately 339,000 retailer locations in software solutions, cash-based and online-initiated 53 countries; and a global money transfer network of consumer-to-consumer and business-to-business approximately 397,000 locations serving 160 countries. money transfer services, and electronic distribution of With corporate headquarters in Leawood, Kansas, digital media and prepaid mobile phone time. USA, and 66 worldwide ofces, Euronet serves clients in approximately 170 countries. 12 Note: We believe that adjusted operating income, adjusted EBITDA and adjusted earnings per share provide useful information to investors because they are indicators of the strength and performance of our ongoing business operations. While certain of these calculations are used more fully to describe the results of the business, others are commonly used as a basis for investors, analysts and credit rating agencies to evaluate and compare the operating performance and value of companies within the payment processing industry. *On page 149, we have defined adjusted operating income, adjusted EBITDA and adjusted earnings per share terms and provided a reconciliation of these non-GAAP financial measures to their most directly comparable U.S. GAAP financial measure. 2019 AT-A-GLANCE (Millions) Equity Total Share Per Earnings Diluted (Millions) Income Operating Adjusted (Millions) Revenue * 2015 $826 2015 $1.83 2015 $205 2015 $1,772 2016 $901 2016 $3.23 2016 $250 2016 $1,959 2017 $1,200 2017 $2.85 2017 $305 2017 $2,252 2018 $1,233 2018 $4.26 2018 $372 2018 $2,537 2019 $1,579 2019 $6.32 2019 $474 2019 $2,750 13 (Millions) EBITDA Adjusted (Millions) Assets Total Share Per Earnings Adjusted (Millions) Transactions * * 2015 $2,193 2015 $3.32 2015 2,927 2015 $288 2016 $2,713 2016 $4.02 2016 3,261 2016 $345 2017 $3,140 2017 $4.58 2017 3,631 2017 $415 2018 $3,321 2018 $5.53 2018 3,978 2018 $494 2019 $4,658 2019 $7.01 2019 4,710 2019 $607 INTRODUCTION I founded Euronet with a mission to bring financial payment inclusion to those who have not had it before. For 25 years we have lived by that mission. I am proud that we We launched the first ATM in Budapest and quickly expanded have built a company that is nimble, flexible and has never to Poland and Germany. That's when we realized that our ATMs backed away from a challenge. These attributes have served could be used to sell other ancillary products in addition to us well as we have faced a number of challenges ranging from the traditional cash withdrawals. Mobile phone top-ups were getting the rights to install our first ATM, to managing through the first service we added to our ATMs and the experience we the last US recession and financial crisis that started in 2008 to accumulated with that led to the strategic acquisition of U.K.- the 2017 demonetization of cash in India. The resilience of our based epay in 2003. This acquisition broadened our capabilities business, our employees, our products, our balance sheet and as we expanded our presence into retail by introducing us to our technology have all played a key role in managing through tokenized transactions and transactions completed with a bar difcult times. And as we all know, we and the world now faces code rather than a 16-digit credit card number. another significant challenge – the COVID-19 pandemic. After expanding epay across Europe and the U.S., we realized Not only is it the medical challenges we all face, the virus will there were more customers out there we could help in our have a significant adverse impact on the global economy. mission of making payments accessible, convenient and We entered the year with low-double digit growth expectations afordable. In 2007, we fulfilled that vision through the strategic and each of our businesses started the year delivering strong acquisition of Ria, a global money remittance business. results. Our business, like all those around the world have been Moving through the global recession in 2008-2009, we continued impacted by this global pandemic, but I am confident that to grow each of our three businesses and one thing became these events are transitory, that our business fundamentals apparent – smartphones were emerging as a driving force in are intact, that our balance sheet is strong and we will come changing the way people communicated, including the way through this challenge stronger. the customer may choose to make payments, interact with their And I think for you to fully appreciate my confidence, it is financial institution and manage their financial transactions. important to understand how we have consistently worked Armed with a skilled team of veteran payment industry experts over the past 25 years to be diverse in product and geography, and the knowledge that payment acceptance would become develop the best technology and build a strong balance sheet. more digital and less reliant on standard 16-digit credit card It is important to understand where we have come from, what numbers, our team began to develop an industry-leading we have built and where we are going. cloud-based payment platform that would transform We have grown from a single ATM in Budapest to a global payment acceptance. network which includes more than 50,000 ATMs, 1.1 million POS With the continued growth of each of our three segments terminals, and the second largest money transfer network with and a focus on developing a new payments system, what has 397,000 locations worldwide. We have also developed leading- emerged is our REN Ecosystem™ which is an industry leading edge payments technology that powers our entire network. solution that encompasses Euronet’s vast global network And while we have accomplished many things, I am very proud and innovative payments platforms. Collectively, it empowers to say we have done it all while delivering earnings growth in businesses and financial institutions to meet the challenges of each of our 25 years. a changing payments landscape and provides people with convenient access to financial services worldwide. 14 Michael J. Brown CHAIRMAN, CEO AND PRESIDENT "It is important to understand where we have come from, what we have built and where we are going." 15 REN ECOSYSTEM The REN Ecosystem is a view of Euronet from a technology perspective. It covers all our critical payment platforms as well as our digital content from leading brands, ATMs, POS terminals, money transfer locations, and other physical financial touch points. We rely on these technologies for our day-to-day business and for processing the billions of transactions we manage each year. The REN Ecosystem also provides payments technologies and development tools to our software customers through two key oferings with the REN Foundation and the REV Payments Cloud. Euronet Platforms REN Microservices 16 REN ECOSYSTEM As its name suggests, the REN Foundation is at the center Euronet also has software that builds solutions in cloud-based of the REN Ecosystem and contains the company’s key environments. These businesses include FinTechs such as payments platforms. challenger and digital banks, digital wallet providers, peer-to- peer payments companies, and others that provide a variety Many businesses such as banks, national switches, and other of virtual financial services.
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