3Q 2021 Investor Presentation

Investment Criteria and Post-Acquisition Review 14,40 11.25 24.00 31.012 45 20.556 448 0 Clear Industrial Logic Strategic fit, the most important factor, is the first screen La » Complementary ratings, content, data, analytics, risk management, etc., in existing and/or high growth markets >> Financial services and adjacent client base that can leverage Moody's brand, distribution, core credit expertise and analytic capabilities >> Preference for recurring or "repeat" revenue and low capital intensity Disciplined Financial Targets Long held, clear financial framework for external (and internal) investments » IRR at above Moody's cost of capital >> >10% annual cash return yield within 3-5 years » Cash payback within 7-9 years >> Adjusted EPS accretive by year 2 >> Transactions evaluated on an unlevered basis Post-Acquisition Review Disciplined and rigorous monitoring post-close » Clear accountability with regular reporting to senior management and Board >> Integrate within acquiring business unit while maintaining unique and / or entrepreneurial characteristics » Acquisition tracking for minimum of 3 years after close for substantive transactions Moody's | Better decisions 3Q 2021 Investor Presentation 14

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