Revenue and Issuance Analysis

Moody's Investors Service Financial Profile 3Q 2019 TTM Revenue: $2.8 billion Recurring Transaction ■U.S. ■Non-U.S. 62% 40% Corporate Finance 52% 60% 38% MIS Other 1% Public, Project, & Infrastructure Finance 15% >> 31% recurring revenue >> 37% recurring revenue Financial Institutions 16% >> 58% recurring revenue Structured Finance 16% >> 41% recurring revenue Global Full Year 2019 Guidance as of October 30, 2019 U.S. increase in the mid-single-digit % range • increase in the mid-single-digit % range Increase in the low-single-digit % range Non-U.S. Adjusted Operating Margin approximately 58% Note: The revenue reclassification of REITs to Corporate Finance from Structured Finance is reflected in the trailing twelve month (TTM) calculations. MOODY'S November 4, 2019 29

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