Mastercard Investor Presentation — May 2024

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First Quarter 2024 Financial Results Conference Call

May 1, 2024 ©2024 Mastercard

FINALFinancial Overview©2024 Mastercard

1st Quarter Selected Financial Performance

($ in millions, except per share data)

1Q 24 1Q 23 YOY Growth

Non-GAAP Non-GAAP As adjusted Currency-neutral

Net revenue $ 6,348 $ 5,748 10% 11%

Adjusted operating expenses 2,617 2,401 9% 9%

Adjusted operating income 3,731 3,347 11% 12%

Adjusted operating margin 58.8 % 58.2 % 0.5 ppt 0.7 ppt

Adjusted net income $ 3,093 $ 2,678 16% 16%

Adjusted diluted EPS $ 3.31 $ 2.80 18% 19%

Adjusted effective tax rate 15.9% 18.3 %

Note: See Appendix A for Non-GAAP reconciliation.

Figures may not sum due to rounding.

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

neutral basis, excluding, where applicable, special items and the impact of gains and losses on our equity

•Net Revenue was up 11% , reflecting continued growth in our payment network and our value-added services

•Operating Expenses increased 9%, including a minimal impact from acquisitions.

•And, Operating Income was up 12% , including a minimal impact from acquisitions.

•Net Income and EPS increased 16% and 19% respectively, both reflecting the strong operating income

growth as well as a lower tax rate primarily due to a change in geographic mix of earnings and discrete tax

benefits related to share-based payments.

•EPS was $3.31 cents , wh ich inclu des a 7 cent contribution from share repurchases.

•During the quarter, we repurc hased $2.0 billion worth of stock and an additional $815 million through

April 26, 2024 . ©2024 Mastercard

$342 $364$660 $711$1,106$1,215

Credit Debit / Prepaid1Q23 1Q24 1Q23 1Q24 1Q23 1Q24$0$200$400$600$800$1,000$1,200$1,400$1,600$1,800$2,000$2,200$2,400Worldwide United States Rest of World

10% Growth 6% Growth 13% Growth

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