Revenue and Issuance Analysis

Moody's Analytics Financial Profile ■Recurring Transaction ■U.S. Non-U.S. 3Q 2019 TTM Revenue: $1.9 billion >> 99% recurring revenue >> 96% retention rate1 16% 84% 58% Research, Data and Analytics 65% Enterprise Risk Solutions 26% >> 78% recurring revenue 42% Professional Services 9% >> Combination of one-off contracts and semi-recurring revenue Full Year 2019 Guidance as of October 30, 2019 1. Global U.S. Non-U.S. Adjusted Operating Margin Excludes Bureau van Dijk. increase in the low-double-digit % range increase in the mid-teens % range increase in the high-single-digit % range 28% -29% Note: The revenue reclassification of the FACT product from RD&A to ERS is reflected in the trailing twelve month (TTM) calculations. MOODY'S November 4, 2019 37

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