Transferring adversarial examples (AEs) from surrogate machine-learning (ML) models to target models is commonly used in black-box adversarial robustness evaluation. Attacks leveraging certain data augmentation, such as random resizing, have been found to help AEs generalize from surrogates to targets. Yet, prior work has explored limited augmentations and their composition. To fill the gap, we systematically studied how data augmentation affects transferability. Particularly, we explored 46 augmentation techniques of seven categories originally proposed to help ML models generalize to unseen benign samples, and assessed how they impact transferability, when applied individually or composed. Performing exhaustive search on a small subset of augmentation techniques and genetic search on all techniques, we identified augmentation combinations that can help promote transferability. Extensive experiments with the ImageNet and CIFAR-10 datasets and 18 models showed that simple color-space augmentations (e.g., color to greyscale) outperform the state of the art when combined with standard augmentations, such as translation and scaling. Additionally, we discovered that composing augmentations impacts transferability mostly monotonically (i.e., more methods composed $\rightarrow$ $\ge$ transferability). We also found that the best composition significantly outperformed the state of the art (e.g., 93.7% vs. $\le$ 82.7% average transferability on ImageNet from normally trained surrogates to adversarially trained targets). Lastly, our theoretical analysis, backed up by empirical evidence, intuitively explain why certain augmentations help improve transferability.