3Q 2020 Investor Presentation

Capital Allocation Strategy Prudent approach in uncertain times Capital allocation goals 999 Capital allocation levers INVESTING IN GROWTH OPPORTUNITIES G Reinvestment S C Acquisitions Anchored around a BBB+ rating MA Ensure adequate financial flexibility 999 Provide necessary capital to pursue growth opportunities Meet return thresholds and create long-term value for shareholders MOODY'S Manage risk RETURN OF CAPITAL Dividends Share repurchase 3Q 2020 Investor Presentation - November 11, 2020 14

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