Slide 1: First-Quarter 2021 Financial Results Conference Call
Mastercard Incorporated First-Quarter 2021 Financial Results Conference Call April 29, 2021
Slide 2: Business Update
Business Update Key Trends Business Highlights Financial Overview ©2021 Mastercard April 29, 2021 2
Slide 3: 1st Quarter Selected Financial Performance
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 m
Slide 4: 1st Quarter Gross Dollar Volume (GDV)
1st Quarter Gross Dollar Volume (GDV) ($ in billions) Worldwide United States Rest of World 8% Growth 14% Growth 5% Growth $1,565 $1,711 $1,800 $1,600 $1,400 $1,086 $1,167 $1,200 $954 $810 $1,000 $800 $558 $636 $479 $544 $600 $400 $755 $758 $252 $318 $200 $528 $532 $227 $226 $0 1Q20 1Q21 1Q20 1Q21 1
Slide 5: Switched Transactions and Cards
1st Quarter Switched Transactions and Cards Switched Transactions Cards 9% Growth* 6% Growth 4,000 30 3,000 2,802 Transactions (in billions) 23.8 Cards (in millions) 22.1 2,634 411 423 20 2,000 10 2,211 2,390 1,000 0 0 1Q20 1Q21 1Q20 1Q21 ©2021 Mastercard Mastercard Cards Maestro Cards Notes: Figure
Slide 6: 1st Quarter Revenue
1st Quarter Revenue ($ in millions) 1Q20 1Q21 $5,000 $4,009 $4,155 $4,000 $3,000 $2,200 $2,351 $2,000 $1,683 $1,798 $1,217 $1,347 $932 $1,062 $1,000 $0 $-1,000 $-2,000 $(2,153) $(2,273) $-3,000 Domestic Cross-Border Transaction Other Rebates and Growth Assessments Volume Fees Processing Revenues Inc
Slide 7: 1st Quarter Adjusted Operating Expenses
1st Quarter Adjusted Operating Expenses ($ in millions) 1Q20 1Q21 $3,000 $2,500 $1,958 $2,000 $1,792 $1,676 $1,494 $1,500 $1,000 $500 $154 $119 $144 $163 $0 Growth General & Administrative Advertising & Marketing Depreciation & Amortization Adjusted Operating Expenses Non-GAAP 12% (22)% 13% 9% Curre
Slide 8: Business Update Through April 21st
st Business Update Through April 21 5 2021 vs. 2020 year-over-year growth % 2021 as a percentage of 2019 1 1 1 April 21 April 21 January February March January February March MTD MTD 2 Switched volume 4% 4% 30% 65% 120% 118% 123% 123% United States 10% 4% 36% 63% 123% 116% 125% 129% Worldwide less U
Slide 9: Looking Ahead
Looking Ahead Further thoughts ©2021 Mastercard April 29, 2021 9
Slide 10: Appendices
Appendices
Slide 11: Non-GAAP Reconciliation
Appendix A Non-GAAP Reconciliation ($ in millions, except per share data) Three Months Ended March 31, 2021 Operating Operating Operating Other Income Effective income Diluted earnings expenses income margin (Expense) tax rate Net income per share Reported - GAAP $ 1,958 $ 2,197 52.9 % $ (7) 16.5 %
Slide 12: Non-GAAP Reconciliation (continued)
Appendix A (continued) Non-GAAP Reconciliation Three Months Ended March 31, 2021 as compared to the Three Months Ended March 31, 2020 Increase/(Decrease) Operating Operating Operating Effective income Diluted earnings Net revenue expenses income margin tax rate Net income per share Reported - GAAP 4
Slide 13: Non-GAAP Reconciliation: Second-quarter 2021 financial outlook
Appendix B Non-GAAP Reconciliation Second-quarter 2021 financial outlook Q2'21 vs. Q2'20 Increase/(Decrease) Net Revenue Operating Expenses 1 Forecasted Growth - GAAP High 20's Low 30's 2 Litigation provisions ** 2% Non-GAAP Growth High 20's Mid 30's 3 Currency impact (2-3)% (3-4)% 4 Acquisitions (2