3Q 2022 Investor Presentation

Reconciliation of Adjusted Financial Measures to U.S. GAAP Moody's Corporation Adjusted Operating Income and Adjusted Operating Margin Reconciliation Moody's Corporation Net Debt Reconciliation (in $ millions) 2018 2019 2020 2021 Operating Income Operating Margin $1,868 $1,998 $2,388 $2,844 42.0% 41.4% 44.5% 45.7% TTM 3Q 2022 $2,091 (in $ millions) 2018 2019 2020 2021 1Q 2Q 3Q 2022 2022 2022 36.6% Gross debt Less: Cash, cash Add Adjustment: equivalents and 1,818 short-term Depreciation & Amortization 192 200 220 257 319 investments Acquisition-Related 3 Net debt $5,676 $5,581 $6,422 $7,413 $7,786 $7,657 $7,476 1,930 2,696 1,902 1,853 1,703 1,745 $3,858 $3,651 $3,726 $5,511 $5,933 $5,954 $5,731 Expenses Restructuring 49 60 50 30 Captive insurance company settlement 16 Loss pursuant to the divestiture of MAKS Adjusted Operating Income Adjusted Operating Margin 14 9 $2,117 $2,291 $2,667 $3,101 $2,440 47.6% 47.4% 49.7% 49.9% 42.7% Note: Some numbers may not foot due to rounding. MOODY'S | DECODE RISK. UNLOCK OPPORTUNITY. 3Q 2022 Investor Presentation 71

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