3Q 2020 Investor Presentation

MIS 3Q 2020: Favorable Revenue Mix Issuance1 $ Millions MIS Revenue 11% $825 YoY Change $746 $9 $9 $133 11% $120 $134 12% $120 $88 (16%) $105 18% $461 $392 $ Millions $ Billions 60.1% $469 1,189 3Q19 4% 1,242 3Q20 MIS Adjusted Operating Income and Margin +410bps $82 64.2% $554 3Q19 ■ CFG ■ SFG ■FIG ■PPIF 3Q20 ■MIS Other » CFG: Opportunistic refinancing, liquidity driven issuance and speculative grade strength contributed to favorable mix » FIG: Revenue growth on active participation from infrequent issuers 3Q19 MIS Adjusted Operating Income MIS Revenue Increase 2 MIS Expense Decrease² 3Q20 MIS Adjusted Operating Income » SFG: Slightly improved, but remains weak overall due to preference for fixed rate instruments » Stronger than expected first time mandates YTD: ~540 » Revenue growth and accompanying expense discipline drove 410 bps increase in adjusted operating margin 1. 2. MIS rated issuance, excludes sovereign debt issuance. Includes intercompany revenue and expenses. Changes in expenses include the impact of adjusting items. MOODY'S 3Q 2020 Investor Presentation - November 11, 2020 65

View entire presentation