Slide 1: Second Quarter 2022 Financial Results Conference Call
Mastercard Incorporated Second Quarter 2022 Financial Results Conference Call July 28, 2022
Slide 2: Business Update
Business Update Key Trends Business Highlights Financial Overview ©2022 Mastercard July 28, 2022 2
Slide 3: 2nd Quarter Selected Financial Performance
2nd Quarter Selected Financial Performance ($ in millions, except per share data) 2Q 22 2Q 21 YOY Growth Non-GAAP Non-GAAP As adjusted Currency-neutral Adjusted net revenue $ 5,491 $ 4,528 21% 27% Adjusted operating expenses 2,313 2,121 9% 12% Adjusted operating income 3,178 2,407 32% 40% Adjusted o
Slide 4: 2nd Quarter Gross Dollar Volume (GDV)
2nd Quarter Gross Dollar Volume (GDV) ($ in billions) Worldwide United States Rest of World 14% Growth 10% Growth 16% Growth $1,908 $2,054 $1,800 $1,600 $1,375 $1,400 $1,070 $1,288 $1,049 $1,200 $1,000 $735 $705 $800 $619 $679 $600 $858 $984 $344 $336 $400 $583 $640 $200 $276 $344 $0 2Q21 2Q22 2Q21
Slide 5: 2nd Quarter Switched Transactions and Cards
2nd Quarter Switched Transactions and Cards 1 Switched Transactions Cards 12% Growth 5% Growth 4,000 40 2,972 3,000 2,834 Cards (in millions) Transactions (in billions) 30.4 383 399 30 27.2 2,000 20 2,435 2,589 1,000 10 0 0 2Q21 2Q22 2Q21 2Q22 Mastercard Cards Maestro Cards ©2022 Mastercard 1. Subse
Slide 6: 2nd Quarter Adjusted Revenue
2nd Quarter Adjusted Revenue ($ in millions) 2Q21 2Q22 $6,000 $5,491 $5,000 $4,528 $4,000 $3,061 $3,000 $2,612 $2,056 $2,283 $2,000 $1,615 $1,475 $1,745 $1,076 $1,000 $0 $-1,000 $-2,000 $-3,000 $(2,691) $-4,000 $(3,213) Domestic Cross-Border Transaction Other Rebates and Adjusted Net Growth Assessme
Slide 7: 2nd Quarter Adjusted Operating Expenses
2nd Quarter Adjusted Operating Expenses ($ in millions) 2Q21 2Q22 $3,000 $2,500 $2,313 $2,121 $1,914 $2,000 $1,720 $1,500 $1,000 $500 $215 $210 $186 $189 $0 Growth General & Administrative Advertising & Marketing Depreciation & Amortization Adjusted Operating Expenses Non-GAAP 11% (3)% 2% 9% Currenc
Slide 8: Business Update Through July 21
st Business Update Through July 21 Year-over-year growth % Current period as a percentage of 20191 2022 2022 2022 2022 Jul 21 Jul 21 Apr May Jun Q2 Apr May Jun Q2 MTD MTD 2 Switched volume 24% 20% 19% 21% 18% 154% 156% 153% 154% 154% United States 13% 10% 13% 12% 12% 146% 147% 144% 146% 146% Worldwi
Slide 9: Looking Ahead
Looking Ahead Further thoughts on 2022 ©2022 Mastercard July 28, 2022 9
Slide 10: Appendices
Appendices
Slide 11: Non-GAAP Reconciliation
Appendix A Non-GAAP Reconciliation ($ in millions, except per share data) Three Months Ended June 30, 2022 Diluted Operating Operating Operating Other income Effective earnings per Net revenue expenses income margin (expense) income tax rate Net income share Reported - GAAP $ 5,497 $ 2,479 $ 3,018 5
Slide 12: Non-GAAP Reconciliation (continued)
Appendix A (continued) Non-GAAP Reconciliation Three Months Ended June 30, 2022 as compared to the Three Months Ended June 30, 2021 Increase/(Decrease) Operating Operating Operating Effective income Diluted earnings Net revenue expenses income margin tax rate Net income per share Reported - GAAP 21
Slide 13: Non-GAAP Reconciliation: 2022 Financial Outlook
Appendix B Non-GAAP Reconciliation 2022 financial outlook Prior 2022 vs. 2021 Updated 2022 vs. 2021 Increase/(Decrease) Increase/(Decrease) Net Revenue Operating Expenses Net Revenue Operating Expenses 1 High-end of High-single- Low-end of Low-end of low- Forecasted Growth - GAAP mid-teens digits hi
Slide 14: Non-GAAP Reconciliation: Third Quarter 2022 Outlook
Appendix C Non-GAAP Reconciliation Third quarter 2022 financial outlook Q3'22 vs. Q3'21 Increase/(Decrease) Net Revenue Operating Expenses 1 High-end of low- Forecasted Growth - GAAP double-digits High-single-digits 2 Litigation Provision ** 1% 3 Indirect Tax Matter ** 4% High-end of low- High-end o
Slide 15: Business Update Through July 21 Excluding Russia
Appendix D st 1 Business Update Through July 21 Excluding Russia 2 Year-over-year growth % Current period as a percentage of 2019 2022 2022 2022 2022 Jul 21 Jul 21 Apr May Jun Q2 Apr May Jun Q2 MTD MTD 3 Switched volume 28% 25% 25% 26% 24% 159% 161% 159% 160% 160% United States 13% 10% 13% 12% 12% 1