3Q 2023 Investor Presentation

Recurring Revenue Growth Drives Margin Expansion Adjusted Operating Margin¹ Recurring % TTM Recurring and Transaction Revenue Recurring Transaction -15% Recurring Revenue CAGR 94% 94% (93% 89% 84% 82% 3Q18 3Q19 3Q20 3Q21 3Q22 3Q23 26.4% 2018 +~410bps 30.0% to 31.0% 2023F 1. Guidance as of October 25, 2023. Refer to Table 11 - "2023 Outlook" in the press release titled "Moody's Corporation Reports Results For Third Quarter 2023" from October 25, 2023, for a complete list of guidance, reconciliations between adjusted measures and U.S. GAAP and assumptions used by the Company with respect to its guidance. Refer to the Appendix for reconciliations between all adjusted measures mentioned throughout this presentation and U.S. GAAP. Moody's | Decode risk. Unlock opportunity. 3Q 2023 Investor Presentation 21 21

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