Investor Presentaiton

MIS 2022 Guidance: Issuance Outlook to Remain Constructive FY 2022 Issuance Guidance 1,2 Total Issuance Decrease in the low-single-digit % range $3.8B MIS Revenue MIS Adjusted Operating Margin Low-single-digit % increase 62.2% Approximately 62% Investment Grade -15% High Yield Bonds Leveraged Loans (~15%) (-10%) Financial Institutions Approximately flat Public, Project and Infrastructure Finance ~5% Structured Finance (~5%) 2021 2022F 2021 2022F Key drivers of MIS FY 2022 outlook¹ » Challenging 2021 total issuance comparative » Investment grade issuance to rebound after sharp >>> contraction Funding conditions for high yield bonds and leveraged loans remain supportive >>> Low-single-digit revenue growth despite anticipated decline in rated issuance >>> Ongoing issuance tailwinds offset by potential headwinds from high liquidity levels, interest rate and inflation uncertainties, as well as curtailing of government stimulus programs >>> Projecting 900 to 1,000 first time mandates M&A pace to continue as issuers seek to improve market positions >>> Adjusted operating margin to remain stable as continued expense discipline allows for organic investment 1. See press release titled "Moody's Corporation Reports Results for Fourth Quarter and Full Year 2021; Sets Full Year 2022 and Medium-Term Outlooks" from February 10, 2022 for Moody's complete full year 2022 guidance. 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. Moody's | Better decisions 4Q & FY 2021 Investor Presentation 28

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