Investor Presentaiton

Expecting Moderate Improvement in 2023 Issuance1 2023 Issuance Factors POLITICS & POLICY » Geopolitical risks » Energy, trade, climate, tax and regulatory policies 點 INFLATION & CENTRAL BANK ACTIONS » Inflation expectations, supply chain and wage trends » Global monetary policy tightening cycle 09 CREDIT MARKETS & RATES » Liquidity, sentiment and credit spreads » Credit performance and default rates >> Private credit markets GROWTH & INVESTMENT eel » Global GDP: recession or recovery » Private equity 'dry powder' FY 2023 Issuance Outlook 1,2 Total Issuance Low-single-digit % Investment Grade ~5% High Yield Bonds Leveraged Loans Approximately flat Financial Institutions Approximately flat Public, Project and Infrastructure Finance Low-single-digit % Structured Finance ~5% ~25% 1. Guidance as of January 31, 2023. Refer to Table 11 - "2023 Outlook" in the press release titled "Moody's Corporation Reports Results for Fourth Quarter and Full Year 2022; Sets Outlook for 2023" from January 31, 2023, for a complete list of guidance, reconciliations between adjusted and organic measures and U.S. GAAP, as well as assumptions used by the Company with respect to its guidance. 2. Total issuance includes CFG, SFG, FIG and PPIF. MIS-rated issuance excludes sovereign debt issuance. Issuance figures are subject to amendment given face amount variations that may occur following the reporting cycle. MOODY'S | DECODE RISK. UNLOCK OPPORTUNITY. 4Q and FY 2022 Investor Presentation 25

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