3Q 2020 Investor Presentation

Reconciliation of Adjusted Financial Measures to GAAP (cont.) Moody's Corporation Diluted EPS Reconciliation 2015 2016 2017 2018 2019 2020F1 Diluted EPS - GAAP $4.63 $1.36 $5.15 $6.74 $7.42 $9.30 $9.50 Legacy Tax (0.03) Impact of Litigation Settlement $3.59 Captive insurance company settlement $0.06 ICRA Gain FX gain on liquidation of a subsidiary ($0.18) Restructuring $0.04 $0.19 $0.23 ~ $0.12 CCXI Gain ($0.31) Acquisition-Related Expenses $0.10 $0.03 $0.02 Purchase Price Hedge Gain ($0.37) Acquisition-Related Intangible Amortization Expenses $0.11 $0.13 $0.23 $0.40 $0.42 Loss pursuant to the divestiture of MAKS $0.07 ~ $0.48 $0.05 Impact of U.S. tax reform $1.28 ($0.30) Net Impact of U.S./European tax change on deferred ($0.01) taxes Increase to non-U.S. UTPS $0.33 Tax charge pursuant to the divestiture of MAKS Adjusted Diluted EPS $0.07 $4.71 $4.94 $6.07 $7.39 $8.29 $9.95 $10.15 1. Guidance as of October 29, 2020. Note: Table may not sum to total due to rounding. MOODY'S 3Q 2020 Investor Presentation - November 11, 2020 72

View entire presentation