Slide 1: Third-Quarter 2021 Financial Results Conference Call
Mastercard Incorporated Third-Quarter 2021 Financial Results Conference Call October 28, 2021
Slide 2: Business Update
Business Update Key Trends Business Highlights Financial Overview ©2021 Mastercard October 28, 2021 2
Slide 3: 3rd Quarter Selected Financial Performance
3rd Quarter Selected Financial Performance ($ in millions, except per share data) 3Q 21 3Q 20 YOY Growth Non-GAAP Non-GAAP As adjusted Currency-neutral Net revenue $ 4,985 $ 3,837 30% 29% Adjusted operating expenses 2,158 1,732 25% 23% Adjusted operating income 2,827 2,105 34% 34% Adjusted operating
Slide 4: 3rd Quarter Gross Dollar Volume (GDV)
3rd Quarter Gross Dollar Volume (GDV) ($ in billions) Worldwide United States Rest of World 20% Growth 20% Growth 20% Growth $1,993 $1,647 $1,800 $1,600 $1,376 $1,400 $1,079 $1,133 $1,200 $909 $1,000 $753 $800 $618 $610 $600 $513 $400 $914 $326 $737 $299 $622 $200 $523 $214 $292 $0 3Q20 3Q21 3Q20 3Q
Slide 5: Switched Transactions and Cards
3rd Quarter Switched Transactions and Cards Switched Transactions Cards 25% Growth* 8% Growth 4,000 40 2,903 3,000 2,675 Transactions (in billions) Cards (in millions) 29.7 400 30 413 23.8 2,000 20 2,503 2,262 10 1,000 0 0 3Q20 3Q21 3Q20 3Q21 ©2021 Mastercard Notes: Figures may not sum due to roundi
Slide 6: 3rd Quarter Revenue
3rd Quarter Revenue ($ in millions) 3Q20 3Q21 $4,985 $5,000 $3,837 $4,000 $2,849 $3,000 $2,251 $2,139 $2,000 $1,750 $1,562 $1,276 $1,143 $1,000 $791 $0 $-1,000 $-2,000 $(2,098) $-3,000 $(2,841) $-4,000 Domestic Cross-Border Transaction Other Rebates and Growth Assessments Volume Fees Processing Reve
Slide 7: 3rd Quarter Adjusted Operating Expenses
3rd Quarter Adjusted Operating Expenses ($ in millions) 3Q20 3Q21 $3,000 $2,500 $2,158 $2,000 $1,748 $1,732 $1,423 $1,500 $1,000 $500 $222 $168 $141 $188 $0 Growth General & Administrative Advertising & Marketing Depreciation & Amortization Adjusted Operating Expenses Non-GAAP 23% 32% 33% 25% Curren
Slide 8: Business Update Through October 21st
st Business Update Through October 21 2021 vs. 2020 year-over-year growth %1 2021 as a percentage of 20191,3 Q2 Jul Aug Sep Q3 Oct 21 Q2 Jul Aug Sep Q3 Oct 21 MTD MTD 2 Switched volume 44% 28% 28% 28% 28% 29% 127% 130% 131% 132% 131% 134% United States 38% 24% 22% 21% 23% 23% 130% 131% 128% 128% 129
Slide 9: Looking Ahead
Looking Ahead Further thoughts ©2021 Mastercard October 28, 2021 9
Slide 10: Appendices
Appendices
Slide 11: Non-GAAP Reconciliation
Appendix A Non-GAAP Reconciliation ($ in millions, except per share data) Three Months Ended September 30, 2021 Operating Operating Operating Other Income Effective income Diluted earnings expenses income margin (Expense) tax rate Net income per share Reported - GAAP $ 2,268 $ 2,717 54.5 % $ 99 14.3
Slide 12: Non-GAAP Reconciliation (continued)
Appendix A (continued) Non-GAAP Reconciliation Three Months Ended September 30, 2021 as compared to the Three Months Ended September 30, 2020 Increase/(Decrease) Operating Operating Operating Effective income Diluted earnings Net revenue expenses income margin tax rate Net income per share Reported
Slide 13: Non-GAAP Reconciliation: Fourth-quarter 2021 financial outlook
Appendix B Non-GAAP Reconciliation Fourth-quarter 2021 financial outlook Q4'21 vs. Q4'20 Increase/(Decrease) Net Revenue Operating Expenses 1 Forecasted Growth - GAAP Mid 20's Mid-teens 2 Litigation provisions ** 3% High-end of Non-GAAP Growth Mid 20's high-teens 3 Currency impact 0.5% (0.5)% 4 Acqu