1. Asterisk (*) represents 0 or any number of characters.
2. Question mark (?) represents a single character.
3. Tilde (~) nullifies the previous two wildcards, allowing you to treat them as regular text inputs.

To summarise, these are the three wildcards available in Excel VLOOKUP:
A single asterisk (*) can represent 0 or any number of characters.
A single character is represented by the question mark (?).
The preceding two wildcards are nullified by Tilde (), allowing you to treat them as standard text inputs.