V1: The Indicated Airspeed that is the dividing line between when you can stop and remain on the runway and when you are committed to continuing the takeoff and becoming airborne.

The key point is that the first action to abort the takeoff must begin at or before reaching V1. If the non-flying pilot calls “V1” and at the same time the master caution starts flashing and the enunciator (or voice) says “Fire - Left Engine”. Guess what — you keep going, because by the time you mentally process the emergency and even think about aborting, you are past V1 and probably at the next speed to consider: VR (rotate).

Different ways to calculate, but we always computed VR as V1 + 5 KIAS.

V2: Is single-engine (or one-engine out) safety speed during climb. If you get, or are, airborne and your speed is greater than V2, don’t slow down, just maintain your current speed—which you should be able to do—and continue the climb. That said, V2 is the MINIMUM safe speed to climb. It’s a floor—not a goal. V2 speed varies based on weight.

V2 is not a callout … only V1 and VR. V2 is “bugged” on the airspeed indicator so you know what it is at a glance.

For landing, you have calculated speeds based on gross weight and flap setting. No callout, you just glance at the landing card and fly the computed speed as you change flap settings.