3Q 2020 Investor Presentation

$ Millions $ Millions Structured Finance: Revenue and Issuance1 Revenue²: Mix by Quarter Issuance³: Mix by Quarter ABS ■RMBS ■CMBS ■Structured Credit Other ■ ABS ■RMBS ■ CMBS ■Structured Credit $160 $140 $350 $300 $120 $0 $44 $1 $1 $250 $49 $100 $1 $1 $49 $47 $1 $31 $51 $41 $32 $1 $0 $200 $36 $39 $57 $51 $38 $80 $35 $40 $29 $1 $24 $34 $25 $22 $22 $21 $150 $26 $70 $60 $24 $15 $18 $20 $25 $21 $85 $31 $87 $18 $17 $15 $13 $16 $63 $13 $66 $100 $64 $65 $40 $24 $24 $24 $24 $21 $26 $27 $23 $24 $48 $40 $20 $50 $115 $79 $90 $91 $103 $25 $26 $23 $26 $25 $25 $22 $23 $25 $65 $66 $74 $89 $0 $0 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 $600 ABS ■RMBS Revenue²: Mix by Year ■CMBS ■Structured Credit ■ Other $2 $2 $2 $0 $2 $4 $400 $165 $0 $0 $135 $137 $122 $196 $91 $96 $148 $95 $116 $122 $140 $133 $143 $78 $81 $200 $85 $73 $76 $81 $85 $90 $98 $95 $110 $98 $92 $91 $94 $97 $107 $99 $0 T 2012 2013 2014 2015 2016 2017 2018 2019 $ Billions Issuance³: Mix by Year ■ ABS ■RMBS ■CMBS ■Structured Credit $1,400 $1,200 $1,000 $200 $153 $800 $39 $65 $159 $136 $36 $94 $132 $115 $600 $73 $116 $114 $120 $145 $120 $371 $117 $94 $270 $400 $231 $189 $238 $254 $283 $200 $204 $200 $319 $335 $317 $319 $292 $298 $337 $384 $348 $0 2011 2012 2013 2014 2015 2016 2017 2018 2019 1. Total estimated market issuance unless otherwise noted. 2. 3. Historical data has been adjusted to conform with current information and excludes intercompany revenue. The revenue reclassification of REITS to Corporate Finance from Structured Finance is reflected starting from 1Q 2018. Sources: AB Alert, CM Alert, Moody's Corporation. Debt issuance categories do not directly correspond to Moody's revenue categorization. Notes: ABS (Asset Backed Securitization) includes asset-backed commercial paper and long-term asset-backed securities. RMBS (Residential Mortgage Backed Securitization) includes covered bonds. CMBS includes commercial mortgage- backed securities and commercial real estate CDOs. Structured Credit includes CLOS and CDOS. MOODY'S 3Q 2020 Investor Presentation - November 11, 2020 56

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