Investor Presentaiton

MIS 2021 Guidance: Improvement in Issuance Outlook Driven by Leveraged Loans and Structured Finance FY 2021 Issuance Guidance 1,2 1Q 2021F Increase in the low 2Q 2021F Total Issuance³ - single-digit % range Investment Grade (~40%) High Yield Bonds -25% MIS Revenue 1,2 MIS Adjusted Operating Margin 1,2 High-single-digit % increase $3.3B Leveraged Loans -75% Increase in the low Financial Institutions - single-digit % range Public, Project and Infrastructure Finance (-20%) Structured Finance ~75% 2020 2021F 59.7% Approximately 61% 2020 2021F Key drivers of MIS FY 2021 outlook¹ >>> >>> Refinancing and M&A remain primary drivers given favorable environment Acceleration in securitization activity as economic recovery continues >>> >> Revenue guidance raised primarily to reflect strong second quarter results Second half growth expected to moderate, in line with prior outlook » Increase in first time mandate guidance to 950 to 1,050 >>> >>> Impact from potential U.S. infrastructure legislation not incorporated into outlook1 Adjusted operating margin outlook continues to reflect year-over-year expansion from ongoing operating efficiency initiatives 1. See press release titled "Moody's to Acquire RMS, Leader In Climate & Natural Disaster Risk" from August 5, 2021 for Moody's complete full year 2021 guidance. Includes assumptions related to RMS's conformity to Moody's accounting policies, as well as the estimated impact of acquisition accounting. 2. MIS rated issuance, excludes sovereign debt issuance. Issuance figures are subject to amendment given face amount variations that may occur following the reporting cycle. 3. Total issuance includes CFG, SFG, FIG and PPIF. Excludes sovereign debt. Moody's | Better decisions 2Q 2021 Investor Presentation 28

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