Looking Ahead - Thoughts for 2023

4th Quarter Adjusted Operating Expenses ($ in millions) 4Q21 4Q22 $3,000 $2,617 $2,389 $2,500 $2,218 $2,000 $1,862 $1,500 $1,000 $500 $338 $216 $189 $184 $0 Growth General & Administrative Non-GAAP 19% Advertising & Marketing (36)% Depreciation & Amortization (2)% Adjusted Operating Expenses 10% Currency-neutral 23% (34)% 2% 13% Note: See Appendix A for Non-GAAP reconciliation. Figures may not sum due to rounding. January 26, 2023 7 ©2022 Mastercard

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