Mastercard Investor Presentation — April 2021 - Mastercard

Mastercard Incorporated First -Quarter 2021 Financial Results Conference Call April 29, 2021

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First -Quarter 2021 Financial Results Conference Call

1st Quarter Selected Financial Performance

($ in millions, except per share data)

1Q 21 1Q 20 YOY Growth

Non-GAAP Non-GAAP As adjusted Currency-neutral

Net revenue $ 4,155 $ 4,009 4 % 2 %

Adjusted operating expenses 1,958 1,792 9 % 7 %

Adjusted operating income 2,197 2,218 (1) % (1) %

Adjusted operating margin 52.9 % 55.3 % (2.4) ppt (2.0) ppt

Adjusted net income $ 1,741 $ 1,844 (6) % (6) %

Adjusted diluted EPS $ 1.74 $ 1.83 (5) % (5) %

Adjusted effective tax rate 16.9 % 14.9 %

Note: See Appendix A for Non-GAAP reconciliation.

Thanks, Michael. Turning to page 3 , which shows our financial performance for the quarter on a currency-

neutral basis and excluding special items and the impact of gains and losses on the company's equity

•Net Revenue was up 2%, returning to positive growth for the first time since the peak of the

pandemic in Q2 2020, and includes a 1 ppt benefit from acquisitions.

•Operating Expenses increased 7%, which includes a 4 ppt increase from acquisitions.

•Operating Income was down (1)% , and Net Income was down (6)% , both of which include a 1 ppt

decrease related to acquisitions.

•EPS was down (5)% year-over-year to $1.74 , which includes 2 cents of dilution related to our recent

acquisitions offset by a 2 cent contribution from share repurchases.

•During the quarter, we repurchased about $1.4 billion worth of stock and an additional $418 million

$227 $226$528 $532$810$954

Credit Debit / Prepaid1Q20 1Q21 1Q20 1Q21 1Q20 1Q21$0$200$400$600$800$1,000$1,200$1,400$1,600$1,800Worldwide United States Rest of World

8% Growth 14% Growth 5% Growth

Notes: 1. Growth rates are shown in local currency.

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