Slide 1: Mastercard Incorporated Third Quarter 2022 Financial Results Conference Call
Mastercard Incorporated Third Quarter 2022 Financial Results Conference Call October 27, 2022
Slide 2: Business Update
Business Update Key Trends Business Highlights Financial Overview ©2022 Mastercard October 27, 2022 2
Slide 3: 3rd Quarter Selected Financial Performance
3rd Quarter Selected Financial Performance ($ in millions, except per share data) 3Q 22 3Q 21 YOY Growth Non-GAAP Non-GAAP As adjusted Currency-neutral Net revenue $ 5,756 $ 4,985 15% 23% Adjusted operating expenses 2,437 2,158 13% 17% Adjusted operating income 3,319 2,827 17% 27% Adjusted operating
Slide 4: 3rd Quarter Gross Dollar Volume (GDV)
3rd Quarter Gross Dollar Volume (GDV) ($ in billions) Worldwide United States Rest of World 11% Growth 10% Growth 12% Growth $1,993 $2,069 $1,800 $1,600 $1,375 $1,386 $1,400 $1,079 $1,077 $1,200 $1,000 $753 $745 $800 $618 $683 $600 $914 $993 $326 $331 $400 $622 $641 $200 $292 $351 $0 3Q21 3Q22 3Q21
Slide 5: Switched Transactions and Cards
3rd Quarter Switched Transactions and Cards 1 Switched Transactions Cards 9% Growth 5% Growth 4,000 40 3,048 3,000 2,893 Cards (in millions) 32.4 386 Transactions (in billions) 29.7 396 30 2,000 20 2,497 2,662 1,000 10 0 0 3Q21 3Q22 3Q21 3Q22 Mastercard Cards Maestro Cards ©2022 Mastercard 1. Subseq
Slide 6: 3rd Quarter Revenue
3rd Quarter Revenue ($ in millions) 3Q21 3Q22 $5,756 $6,000 $4,985 $5,000 $4,000 $3,288 $2,849 $3,000 $2,139 $2,252 $2,000 $1,276 $1,803 $1,562 $1,824 $1,000 $0 $-1,000 $-2,000 $-3,000 $(2,841) $-4,000 $(3,411) Domestic Cross-Border Transaction Other Rebates and Growth Assessments Volume Fees Proces
Slide 7: 3rd Quarter Adjusted Operating Expenses
3rd Quarter Adjusted Operating Expenses ($ in millions) 3Q21 3Q22 $3,000 $2,437 $2,500 $2,069 $2,158 $2,000 $1,748 $1,500 $1,000 $500 $222 $182 $188 $185 $0 Growth General & Administrative Advertising & Marketing Depreciation & Amortization Adjusted Operating Expenses Non-GAAP 18% (18)% (2)% 13% Cur
Slide 8: Business Update Through October 21st
st Business Update Through October 21 Year-over-year growth %1 Current period as a percentage of 20191,2 2022 2022 2022 2022 Oct 21 Oct 21 Q2 Jul Aug Sep Q3 Q2 Jul Aug Sep Q3 MTD MTD 3 Switched volume 21% 19% 17% 17% 18% 17% 154% 155% 153% 154% 154% 157% United States 12% 12% 12% 13% 12% 12% 146% 14
Slide 9: Looking Ahead
Looking Ahead Further thoughts on 2022 ©2022 Mastercard October 27, 2022 9
Slide 10: Appendices
Appendices
Slide 11: Appendix A: Non-GAAP Reconciliation
Appendix A Non-GAAP Reconciliation ($ in millions, except per share data) Three Months Ended September 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 $ 5,756 $ 2,644 $ 3,
Slide 12: Appendix A (continued): Non-GAAP Reconciliation
Appendix A (continued) Non-GAAP Reconciliation Three Months Ended September 30, 2022 as compared to the Three Months Ended September 30, 2021 Increase/(Decrease) Operating Operating Operating Effective income Diluted earnings Net revenue expenses income margin tax rate Net income per share Reported
Slide 13: Appendix B: Non-GAAP Reconciliation, Fourth Quarter 2022 Outlook
Appendix B Non-GAAP Reconciliation Fourth quarter 2022 financial outlook Q4'22 vs. Q4'21 Increase/(Decrease) Net Revenue Operating Expenses 1 Low-end of low double Low-end of low double Forecasted Growth - GAAP digits digits 2 Special Items ** ** Low-end of low double Low-end of low Non-GAAP Growth
Slide 14: Appendix C: Business Update Through October 21st Excluding Russia
Appendix C st 1 Business Update Through October 21 Excluding Russia 2 2,3 Year-over-year growth % Current period as a percentage of 2019 2022 2022 2022 2022 Oct 21 Oct 21 Q2 Jul Aug Sep Q3 Q2 Jul Aug Sep Q3 MTD MTD 4 Switched volume 26% 24% 23% 23% 23% 23% 160% 161% 159% 161% 160% 164% United States