Global Payments Company Valuation & Strategic Insights — September 2026

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COMPANY VALUATION & STRATEGIC INSIGHTS

GLOBAL PAYMENTS INC. (GPN) · FINANCIALS › FINANCIAL SERVICES › CARD AND MERCHANT SERVICES

Global Payments: Scale Is Bought, the Rating Now Rests on Integration

Global Payments Inc. (GPN), as of Sep 25, 2026 — what the valuation methods, the peer set, the transaction record and the company's own filings imply, and the operating choices behind the gap.

Sep 25, 2026 snapshot

Prepared by NeuraCap AI · Confidential

Illustrative valuation perspectives — not an opinion of value, not a fairness opinion, not a price target.

GPN Valuation & Strategy | Sep 25, 2026 | Confidential | Not investment advice

Sources & methodology

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1. 01
   COMPANY VALUATION & STRATEGIC INSIGHTS

   GLOBAL PAYMENTS INC. (GPN) · FINANCIALS › FINANCIAL SERVICES › CARD AND MERCHANT SERVICES

   Cover page introducing the Global Payments Inc. (GPN) valuation and strategic insights report as of September 25, 2026.

   We open with what this report will answer: what the valuation methods imply, how the market has priced Global Payments, where it stands operationally against peers, what buyers have historically paid, and where the strategic choices lie. Everything that follows builds toward one question — whether the discount to the methods' median has a clear path to closing.

   Everything on this page

   COMPANY VALUATION & STRATEGIC INSIGHTS GLOBAL PAYMENTS INC. (GPN) · FINANCIALS › FINANCIAL SERVICES › CARD AND MERCHANT SERVICES Global Payments: Scale Is Bought, the Rating Now Rests on Integration Global Payments Inc. (GPN), as of Sep 25, 2026 — what the valuation methods, the peer set, the transaction record and the company's own filings imply, and the operating choices behind the gap. Sep 25, 2026 snapshot Prepared by NeuraCap AI · Confidential Illustrative valuation perspectives — not an opinion of value, not a fairness opinion, not a price target. GPN Valuation & Strategy | Sep 25, 2026 | Confidential | Not investment advice Sources & methodology 1

2. 02
   THE BOTTOM LINE

   Global Payments Has Bought Its Scale; The Market Is Still Waiting on the Proof

   States the report's central conclusion: Global Payments has bought scale, and the market is still waiting for proof it converts to margin.

   Global Payments has already bought its scale through the Worldpay combination; what the market hasn't yet done is credit the company for it. We bring together the valuation methods, the market's own pricing record, the operating benchmarks against peers and the precedent transaction record to show exactly where that gap sits. Each of the following pages builds one piece of that evidence. So the headline isn't a story about growth — it's a story about whether integration delivery shows up in the multiple.

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   THE BOTTOM LINE Global Payments Has Bought Its Scale; The Market Is Still Waiting on the Proof Global Payments (GPN) · Sep 25, 2026 · valuation methods, market record, operating benchmarks, precedent transactions Source: NeuraCap analytics platform (financials, estimates, comparables, transaction record, filings); market data through 2026-09-25. Illustrative valuation perspectives — not an opinion of value, not a fairness opinion, not a price target. GPN Valuation & Strategy | Sep 25, 2026 | Confidential | Not investment advice Sources & methodology 2 1 GPN Trades at a Substantial Implied Discount to the Methods' Median The methods' median implied share price of $133.28 sits +56% above the $85.31 share price, inside a reference range of $87.20 – $144.01. The widest part of that spread sits in the precedent methods, where integration delivery rather than sector growth does the work. 2 Global Payments Grows Faster and Earns a Wider EBITDA Margin than Its Peer Set CY2027E revenue growth of 60.3% compares with a 14.1% peer average, on a CY2027E EBITDA margin of 46.7% against a 40.8% peer-average EBITDA margin. Only RPAY, at 59.1%, grows at a comparable pace, and the sector work places GPN in the margin-led quadrant of the Core tier. 3 Buyers Have Paid Far Above Where GPN's Market Multiple Sits Today Across 9 precedent transactions the median EV / LTM EBITDA is 12.5x, against 7.2x EV / CY2027E EBITDA in the market today. Fidelity National Information Services, Inc. paid 20.3x for Worldpay, Inc.; scaled, directly held merchant distribution is what earned multiples at that level. 4 GPN's Filed Synergy Targets Carry a Clock the Market Has Not yet Credited The filings set out more than $650 million of operating-income benefit by the first half of 2027 and $600 million of Worldpay expense synergies by year-end 2028. Q2 2026 revenue of $3.32 billion, up 68.6%, shows the revenue side has landed; the margin side is still to be proven. $133.28 Median of the valuation methods vs the $85.31 share price — a +56% gap the deck explains 7.2x EV / CY2027E EBITDA — where GPN trades peer median 7.0x — the multiple gap is the sentiment story 12.5x Median EV / LTM EBITDA paid for control across 9 precedent transactions — vs 7.2x in the market today 60.3% CY2027E revenue growth at a 46.7% EBITDA margin — the profile the market is pricing

3. 03
   FOOTBALL FIELD VALUATION

   GPN: Peers, Buyers and the Sell-Side Disagree, and the Disagreement Is About Integration

   Shows a football-field valuation range comparing what peers, buyers and the sell-side each imply for GPN's share price.

   The football field lays every valuation method side by side, each bar built from that method's median multiple applied to GPN's own financials. The methods disagree, and the widest part of that disagreement sits in the precedent-transaction methods, where buyers have historically paid up for integration delivery rather than sector growth alone. That spread — $87.20 to $144.01 around a $133.28 median — is the clearest single picture of what the market isn't yet pricing in. So the question this page raises is which method's assumption about integration risk is closest to being right.

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   FOOTBALL FIELD VALUATION GPN: Peers, Buyers and the Sell-Side Disagree, and the Disagreement Is About Integration Sep 25, 2026 snapshot · each bar = the method's median multiple ±10%, applied to the company's own financials · Illustrative valuation perspectives — not an opinion of value, not a fairness opinion, not a price target. Source: NeuraCap analytics platform (financials, estimates, comparables, transaction record, filings); market data through 2026-09-25. Illustrative valuation perspectives — not an opinion of value, not a fairness opinion, not a price target. GPN Valuation & Strategy | Sep 25, 2026 | Confidential | Not investment advice Sources & methodology 3 Taken together the methods produce a median implied share price of $133.28 against the $85.31 share price, with a reference range of $87.20 – $144.01. $0 $50 $100 $150 $200 Multiples teal line = median of the valuation methods (+56% vs the share price) · amber line = current share price · shaded band = middle half of the methods TRADING 52-Week High-Low $61.16 $95.88 Analyst target range $80.00 $125.00 PUBLIC COMPARABLES EV / 2026E EBITDA $72.50 $88.61 6.31x – 7.71x EV / 2027E EBITDA $84.46 $103.22 6.32x – 7.73x EV / 2025A Revenue $181.21 $221.47 2.92x – 3.57x EV / 2026E Revenue $60.91 $74.45 2.39x – 2.92x EV / 2027E Revenue $58.17 $71.09 2.31x – 2.82x P/E (2026E Non-GAAP EPS) $119.95 $146.61 8.79x – 10.74x P/E (2027E Non-GAAP EPS) $131.13 $160.27 8.17x – 9.99x PRECEDENT TRANSACTIONS EV / LTM EBITDA $127.19 $155.45 11.25x – 13.75x EV / NTM EBITDA $170.20 $208.02 10.81x – 13.21x EV / LTM Revenue $110.46 $135.00 2.15x – 2.62x EV / NTM Revenue $128.10 $156.56 4.14x – 5.06x Methods median $133.28 Share price $85.31

4. 04
   MARKET PRICES & THE FILING RECORD

   Global Payments: Buybacks Steadied a Flat Year While the Market Waited on Integration Proof

   Tracks GPN's weekly share price over the past year against the company's own filings.

   Over the year to September 25, 2026, GPN's shares ranged from $64.05 to $93.49 and closed the period at $85.31, with buybacks visible in the filing record alongside the price line. Numbered markers tie specific price moves to the filings that plausibly explain them, and where no filing explains a move, the page says so rather than guessing. This calibrated linking is what lets us separate market noise from company-driven news. So the flat year in the shares reads less as disinterest and more as the market withholding judgment until integration proof arrives.

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   MARKET PRICES & THE FILING RECORD Global Payments: Buybacks Steadied a Flat Year While the Market Waited on Integration Proof Weekly closes, Sep 28, 2025 – Sep 25, 2026 · range $64.05 – $93.49 · last $85.31 · numbered markers = the filings below Source: NeuraCap analytics platform (financials, estimates, comparables, transaction record, filings); market data through 2026-09-25. Move-to-event links use calibrated language; where no filing explains a move, the page says so. GPN Valuation & Strategy | Sep 25, 2026 | Confidential | Not investment advice Sources & methodology 4 $60 $80 $100 2025-09 2025-11 2026-01 2026-03 2026-05 2026-07 2026-08 1 2 3 4 5 6 7 8 Weekly closes ran from $84.32 to $85.31 over Sep 28, 2025 – Sep 25, 2026, a +1% change inside a $64.05 to $93.49 band. 1 Jan 18, 2026 · Executive, Officer & Director Appointment / Departure Filed 8-K - 2026-01-14 - Global Payments disclosed the retirement of CAO David Sheffield effective March 1, 2026, and the resignation of CAO… 2 Feb 22, 2026 · Liquidity, Capital Allocation & Share Repurchase Filed 8-K - 2026-02-19 - Global Payments announced an accelerated share repurchase program to repurchase $550 million of its common shares… 3 Feb 22, 2026 · Earnings Release & Result of Operations Filed 8-K - 2026-02-18 - Global Payments reported its Q4 and FY 2025 results, announced a $550 million accelerated share repurchase and a… 4 Mar 8, 2026 · Exhibit-Only, Administrative & Technical Filing Filed 8-K - 2026-03-05 - The 8-K includes Exhibit 99.1 containing Worldpay Holdco’s combined and consolidated financial statements for 2025… 5 Mar 15, 2026 · Debt, Credit Facility & Other Financing Filed 8-K - 2026-03-12 - Global Payments Inc. completed a $1 billion senior notes offering (500 million 4.55% due 2028 and 500 million 5.40%… 6 Mar 15, 2026 · Debt, Credit Facility & Other Financing Filed 8-K - 2026-03-11 - Global Payments entered an underwriting agreement to issue $1 billion of senior notes (2028 and 2033) with closing…

5. 05
   PERFORMANCE METRICS

   GPN: Worldpay Doubles the Revenue Base, and the EBITDA Margin Rebuild Is the Next Test

   Shows GPN's revenue, growth and EBITDA margin from CY2026 through CY2029E.

   The Worldpay combination roughly doubles GPN's revenue base, and the estimates show a CY2027E revenue figure of $12.4B carrying 60.3% growth. What the same series also shows is the margin path still rebuilding toward its prior level, which is the harder half of the integration story. Growth and margin here are computed directly from the published series, with estimate years clearly marked. So the size of the opportunity is already visible in the numbers; the delivery of the margin is the remaining test.

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   PERFORMANCE METRICS GPN: Worldpay Doubles the Revenue Base, and the EBITDA Margin Rebuild Is the Next Test CY2026 – CY2029E · bars = level, line = growth / margin · estimates are the platform's, shown as published Source: NeuraCap analytics platform (financials, estimates, comparables, transaction record, filings); market data through 2026-09-25. Growth and margin are computed from the published series; estimate years are marked E. GPN Valuation & Strategy | Sep 25, 2026 | Confidential | Not investment advice Sources & methodology 5 CY2026 revenue of $7.7B at a 58.7% EBITDA margin gives way to CY2027E revenue of $12.4B, up 60.3%, at a 46.7% EBITDA margin as the acquired mix comes in. REVENUE & REVENUE GROWTH $7.7B 2026 $12.4B 2027E $13.0B 2028E $13.6B 2029E 60.3% 5.2% 4.8% bars: revenue (navy = actual, blue = estimate) · line: revenue growth EBITDA & EBITDA MARGIN $4.5B 2026 $5.8B 2027E $6.3B 2028E 58.7% 46.7% 48.1% bars: ebitda (navy = actual, teal = estimate) · line: ebitda margin · CY2029E not shown: no EBITDA figure published

6. 06
   INVESTMENT BANKING KPI BENCHMARKING

   GPN Sits Above Its Peer Set on Both Growth and EBITDA Margin, and Is Not Paid for It

   Benchmarks GPN's growth and EBITDA margin against a defined peer set, with GPN highlighted.

   GPN's 60.3% CY2027E revenue growth stands well above the 14.1% peer average, with only RPAY close behind at 59.1%, and its 46.7% EBITDA margin sits above the 40.8% peer average. Despite sitting above peers on both axes, the market isn't yet paying GPN a premium multiple for that combination. That's the clearest evidence that the gap to the methods' median is about proof of delivery, not about the underlying operating performance. So this page is the operating case for why the discount should close, even before the valuation math is applied.

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   INVESTMENT BANKING KPI BENCHMARKING GPN Sits Above Its Peer Set on Both Growth and EBITDA Margin, and Is Not Paid for It Global Payments (GPN) highlighted · vertical line = peer average excluding the target Source: NeuraCap analytics platform (financials, estimates, comparables, transaction record, filings); market data through 2026-09-25. GPN's 60.3% CY2027E revenue growth stands against a 14.1% peer average, with only RPAY close at 59.1% and FISV at -7.7%, while its 46.7% EBITDA margin runs above the 40.8% peer average yet below the network economics of MA at 63.2% and V at 68.8%. GPN Valuation & Strategy | Sep 25, 2026 | Confidential | Not investment advice Sources & methodology 6 CY2026 REVENUE GROWTH GPN 60.3% ACIW 8.3% FISV -7.7% MA 13.6% PSFE 6.5% PYPL 4.8% RPAY 59.1% V 13.9% Peer average 14.1% CY2026 EBITDA MARGIN GPN 46.7% ACIW 29.0% FISV 41.3% MA 63.2% PSFE 28.5% PYPL 19.8% RPAY 34.7% V 68.8% Peer average 40.8%

7. 07
   COMPANY VALUATION METRICS

   The Comparable Set, with GPN Highlighted

   Lays out the full comparable company set with GPN highlighted against peer valuation multiples.

   GPN's 7.2x EV / CY2027E EBITDA multiple sits just above the 7.0x peer median, which means the growth and margin differential we just showed is not currently being paid for. The summary rows are computed across the peer set with outlier multiples excluded, and GPN's own row is shown for reference rather than folded into its own benchmark. That distinction matters because it isolates exactly how much upside sits in closing the gap to peers alone, before any re-rating toward the precedent-deal multiples. So the comparable set frames the conservative end of the re-rating case.

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   COMPANY VALUATION METRICS The Comparable Set, with GPN Highlighted GPN's 7.2x EV / CY2027E EBITDA sits just above the 7.0x peer median, so the growth differential is not currently being paid for Source: NeuraCap analytics platform (financials, estimates, comparables, transaction record, filings); market data through 2026-09-25. Summary rows are computed over the peer set (outlier multiples excluded); the target row is shown for reference, not included in its own benchmark. GPN Valuation & Strategy | Sep 25, 2026 | Confidential | Not investment advice Sources & methodology 7 Company Price EV Mkt cap CY2027E Rev CY2027E Growth CY2027E Margin P/E 2027E P/E 2028E EV/Rev 2027E EV/EBITDA 2027E GPN — Global Payments Inc. $85.31 $41.7B $22.7B $12.4B 60.3% 46.7% 6.2x 5.3x 3.4x 7.2x ACIW — ACI Worldwide, Inc. $49.62 $5.7B $5.0B $1.9B 8.3% 29.0% 19.2x 16.9x 3.0x 10.3x FISV — Fiserv, Inc. $45.98 $51.9B $24.5B $19.6B -7.7% 41.3% 6.3x 5.8x 2.7x 6.4x MA — Mastercard Incorporated $566.08 $507B $496B $37.3B 13.6% 63.2% 28.4x 24.5x 13.6x 21.5x PSFE — Paysafe Limited $6.38 $2.7B $330M $1.8B 6.5% 28.5% 3.2x 3.0x 1.5x 5.2x PYPL — PayPal Holdings, Inc. $52.60 $48.3B $45.3B $34.8B 4.8% 19.8% 9.8x 9.1x 1.4x 7.0x RPAY — Repay Holdings Corporation $3.93 $1.0B $353M $492M 59.1% 34.7% 4.4x 4.0x 2.1x 6.1x V — Visa Inc. $367.98 $669B $657B $47.1B 13.9% 68.8% 26.9x 23.8x 14.2x 20.6x Peer average 14.0x 12.4x 5.5x 11.0x Peer median 9.8x 9.1x 2.7x 7.0x

8. 08
   MERGERS & ACQUISITIONS

   GPN: Buyers Pay for Owned Distribution at Multiples the Market Is Not Applying Today

   Reviews precedent transactions in card and merchant services and the multiples buyers have paid for platform combinations.

   The deals that read onto Global Payments are the scaled platform combinations, led by Fidelity National Information Services, Inc.'s acquisition of Worldpay, Inc. at 20.3x, alongside Global Payments' own acquisition of Total System Services, Inc. Multiples are shown as LTM/NTM at announcement where disclosed, and summary rows exclude outlier multiples and are suppressed where too few deals carry a given multiple. The pattern across this record is that buyers pay up for owned, directly held distribution — the asset Global Payments now holds. So the precedent record sets a ceiling for what integration proof could eventually be worth in the multiple.

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   MERGERS & ACQUISITIONS GPN: Buyers Pay for Owned Distribution at Multiples the Market Is Not Applying Today The deals that read onto Global Payments are the scaled platform combinations — Fidelity National Information Services, Inc. / Worldpay, Inc. at 20.3x, Global Payments / Total System Services, Inc. Source: NeuraCap analytics platform (financials, estimates, comparables, transaction record, filings); market data through 2026-09-25. Multiples are LTM/NTM at announcement where disclosed; values link to the record where a link exists. Summary rows exclude outlier multiples (disclosed on the sources page), show their n, and are suppressed (n/a) where fewer than 3 deals carry the multiple. The strategic read is a NeuraCap analytical view. 1 further recorded transaction(s) live in the companion transaction record. GPN Valuation & Strategy | Sep 25, 2026 | Confidential | Not investment advice Sources & methodology 8 Announced Acquirer Target Deal value EV LTM Rev LTM EBITDA LTM EV/Rev LTM EV/EBITDA NTM EV/Rev NTM EV/EBITDA 2026-06-12 Nuvei Payoneer Global Inc. $2.8B $2.4B $1.1B $276M 2.3x 8.7x 2.1x 8.0x 2025-06-15 365 Retail Markets, LLC Cantaloupe, Inc. $695M $689M $293M $40M 2.4x 17.4x 2.2x 12.0x 2024-06-26 Payroc Buyer, LLC i3 Verticals, LLC $440M $820M $340M $103M 2.4x 8.0x 3.4x 11.3x 2021-10-20 FirstCash Holdings, Inc. American First Finance $1.1B n/a n/a n/a n/a 12.1x n/a n/a 2019-05-27 Global Payments Inc. Total System Services, Inc. $27.3B n/a n/a n/a 6.7x 16.0x 6.6x 16.5x 2019-03-01 Fidelity National Information Services, Inc. Worldpay, Inc. $49.2B n/a n/a n/a 12.0x 20.3x 11.6x 19.5x 2019-02-01 ACI Worldwide, Inc. SpeedPay, Inc. $754M n/a n/a n/a 2.2x 8.0x n/a n/a 2019-01-01 Fiserv, Inc. First Data Corporation $42.3B n/a n/a n/a 5.7x 12.5x 5.7x 11.4x 75th percentile 6.0x 17.4x 6.2x 16.7x Average 4.4x 13.6x 5.2x 13.7x Median 2.4x 12.5x 4.6x 12.0x 25th percentile 2.2x 8.7x 2.8x 11.3x n (deals carrying the… n=8 n=9 n=7 n=7 THE STRATEGIC READ Across 9 precedent transactions the median EV / LTM EBITDA is 12.5x, with the upper quartile at 17.4x — against 7.2x EV / CY2027E EBITDA in the market today. The top of that record was paid for owned, directly held merchant distribution and the net revenue that survives integration — the asset Global Payments now holds. Retained merchant net revenue, take-rate durability and value-added services attachment are what moved those multiples.

9. 09
   STRATEGIC ROADMAP

   GPN: Four Moves That Would Let the Integration Show up in the Multiple

   Lays out four operating moves that could help close the gap between GPN's market multiple and the methods' median.

   Each of these four moves is framed as an option for evaluation, grounded in the sector study, the current market window and the precedent transaction record, not as an instruction. They range from converting the filed synergy plan into reported EBITDA margin, to shifting revenue mix toward higher-retention channels, to pacing capital returns against the capital expenditure commitment, to selective capability acquisitions. So the roadmap turns the valuation gap into a short, evidence-linked list of what management could choose to prioritize.

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   STRATEGIC ROADMAP GPN: Four Moves That Would Let the Integration Show up in the Multiple NeuraCap analytical views grounded in the sector study, the latest market window and the precedent transactions · observations, not recommendations Source: NeuraCap analytics platform (financials, estimates, comparables, transaction record, filings); market data through 2026-09-25. Each option is framed for evaluation, not as an instruction; the evidence chips show where each input comes from. GPN Valuation & Strategy | Sep 25, 2026 | Confidential | Not investment advice Sources & methodology 9 EVIDENCE Sector study: Core · margin-led Bi-Weekly window September 11–25, 2026 Precedent transactions: 9 NEAR TERM Turn the Filed Synergy Plan into Reported EBITDA Margin Management has committed to more than $650 million of operating-income benefit by the first half of 2027 and $600 million of expense synergies by year-end 2028. CY2027E carries a 46.7% EBITDA margin against 58.7% in CY2026; delivered cost takeout is what moves the 7.2x multiple. MEDIUM TERM Shift the Mix Toward Enterprise and Platforms Net Revenue The six months to June 2026 ran 50.1% SMB, 24.8% Enterprise and 19.4% Platforms. Integrated payments and independent software vendor channel net revenue retains better than a terminal-and-agent estate, and the comparable set rewards durable net revenue over the revenue step itself. NEAR TERM Pace Capital Returns Against the FY 2026 Capex Commitment The record shows a $2.5 billion authorisation, repurchases of $550 million and $500 million, and a $1 billion senior notes issue at 4.55% and 5.40%. Against FY 2026 capital expenditure of $1.0 billion, pacing buyback against platform reinvestment is the live capital allocation choice.

10. 10
    WHAT IT MEANS

    GPN: What It Means

    Translates the evidence into implications for the board, potential partners and advisors.

    For the board, the methods and benchmarking pages together show which gaps are structural and which are executional, with revenue quality, mix and margin durability as the levers that move the multiple. For partners and investors, the precedent multiples and comparable set frame the reference points for any conversation about the company. For advisors, the football field's disagreement between market, peers and buyers is the conversation to lead with, supported by the benchmarking and transaction evidence. So each audience has a distinct, evidence-grounded starting point drawn from the same underlying record.

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    WHAT IT MEANS GPN: What It Means The evidence translated for the people who act on it · NeuraCap view · observations, not recommendations Source: NeuraCap analytics platform (financials, estimates, comparables, transaction record, filings); market data through 2026-09-25. This page is analytical interpretation drawn from the recorded evidence. It is not investment advice. GPN Valuation & Strategy | Sep 25, 2026 | Confidential | Not investment advice Sources & methodology 10 FOR THE BOARD & OWNERS Move the Levers That Close the Gap to the Methods' Median The methods page shows where the value sits and the benchmarking page shows which operating gaps are structural and which are executional. Revenue quality, mix and margin durability are the levers that move the multiple. FOR POTENTIAL PARTNERS & INVESTORS The Precedent Transactions Set the Reference Precedent multiples and the comparable set frame every conversation about this company; the summary rows carry the figures, each with its n. FOR ADVISORS Lead with the Disagreement, Not the Data The football field's gap between market, peers and buyers is the conversation; the benchmarking page and the transaction record are its support.

11. 11
    SOURCES & METHODOLOGY

    Sources, Methodology and Important Notice

    Sources, Methodology and Important Notice.

    Sources, Methodology and Important Notice How this company deck is built and what each kind of statement rests on · Sep 25, 2026 Every figure on these pages links to the record it was taken from; where a figure has no link, this page names its source and the basis on which it was read. 11

    Everything on this page

    SOURCES & METHODOLOGY Sources, Methodology and Important Notice How this company deck is built and what each kind of statement rests on · Sep 25, 2026 Every figure on these pages links to the record it was taken from; where a figure has no link, this page names its source and the basis on which it was read. GPN Valuation & Strategy | Sep 25, 2026 | Confidential | Not investment advice 11 OBSERVED DATA Prices, financials, estimates, comparables and the transaction record come from the NeuraCap analytics platform exactly as recorded; filings link to their source. Nothing on any page is re-derived from outside data. PEER SET & PRECEDENTS The peer set is the platform's own refined competitor list for Global Payments (7 names), used as the product's company screen uses it. The precedent transactions are the platform's own record for Global Payments; summary rows carry their n and are suppressed where fewer than 3 deals carry the multiple. VALUATION METHODS Each football-field bar applies a method’s median multiple, ±10% (peer multiples, or precedent-transaction multiples), to the company’s own financials; per-share values bridge enterprise value through recorded net debt and diluted shares. Illustrative valuation perspectives — not an opinion of value, not a fairness opinion, not a price target. MULTIPLE QUALITY All recorded multiples passed the sanity bounds; none were excluded. INHERITED CONTEXT Sector positioning and the market window are inherited from sector study run_20260925T163256Z_603_prod and bi-weekly update weekly_20260925T172051Z_603_production — distilled, never re-derived. Their own sources pages govern that content. DRIVER ATTRIBUTION A share-price move is linked to a filing only in calibrated language ("the move appears to reflect…"). Where no filing explains a move, the page says so. ANALYTICAL INTERPRETATION The roadmap and what-it-means pages are NeuraCap analytical views drawn from the recorded evidence, labeled as such, framed for evaluation. IMPORTANT NOTICE This report is informational only. Illustrative valuation perspectives — not an opinion of value, not a fairness opinion, not a price target. It is not investment advice, not a recommendation to buy or sell any security, and not an offer of any kind. Readers should perform their own diligence before acting on anything described here. Linked sources: sec.gov

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