3Q 2020 Investor Presentation

50 4% 40 Moody's in Greater China 2nd Largest Onshore Bond Market at $15 Trillion Total debt securities outstanding 2012-20201 ■2012 ■2020 Revenue and Attributable Income from China² ■MIS Cross Border Revenue Total MA Revenue Attributable Income from CCXI $176 30 20 • ON WA 10 21% -2% 0% 0% US China Japan UK France $ Millions $17 MIS Cross Border and Total MA Attributable Income from CCXI Estimated China Ratings Market Size: Domestic and Cross Border³ » Moody's participates directly in the cross border China issuance market through MIS and in the domestic market through a 30% interest in CCXI >> Long-term growth prospects enabled by participation in the ongoing development of China's domestic credit markets » Continuing to foster constructive relationships and partnerships with issuers, regulators and other market participants Cross Border Market ~$270M³ 43% 57% 1. 2. Percentage growth numbers are rounded compound annual growth calculations. Source: Bank for International Settlements' latest data available as of 1Q 2020. Greater China: Mainland, Hong Kong and Macau. Revenue and attributable income data for full year 2019. Domestic Market ~$310M 42% 58% ■Rest of Market Moody's Share ■Rest of Market ■CCXI's Share 3. Revenue as of 3Q 2020; USD 1 = RMB 6.79 RMB exchange rate as of September 30, 2020 is used for conversion for domestic CRAS' estimated revenue. Note: These are high level estimates based on MIS & CCXI 3Q 2020 revenue/market coverage in domestic market; in cross border, market share is coverage/sum of coverage for three major CRAS. MOODY'S 3Q 2020 Investor Presentation - November 11, 2020 35

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