MasterCard : Q4 and Full-Year 2021 Mastercard Inc. Earnings Conference Call

Mastercard

Incorporated

Fourth Quarter and Full Year 2021 Financial Results Conference Call

January 27, 2022

Business Update

Key Trends

Business Highlights

Financial Overview

©2022 Mastercard

January 27, 2022

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4th Quarter Selected Financial Performance

($ in millions, except per share data)

		4Q 21				4Q 20			YOY Growth
		Non-GAAP				Non-GAAP			As adjusted		Currency-neutral
Net revenue	$	5,216	$	4,120		27%	28%
Adjusted operating expenses		2,389				2,018		18%	19%
Adjusted operating income		2,827				2,102		34%	37%
Adjusted operating margin		54.2 %			51.0 %		3.2 ppt		3.6 ppt
Adjusted net income	$	2,314			$	1,644		41%	44%
Adjusted diluted EPS	$	2.35	$	1.64		43%	46%
Adjusted effective tax rate		14.7	%			17.5	%

Note: See Appendix A for Non-GAAP reconciliation.

©2022 Mastercard

January 27, 2022

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4th Quarter Gross Dollar Volume (GDV)

($ in billions)

			Worldwide				United States	Rest of World
			23% Growth				23% Growth		23% Growth
$1,800	$1,747	$2,113
																	$1,460
$1,600
$1,400			$949	$1,135													$1,218
$1,200																			$802
$1,000											$652				$659
$800						$528
$600				$978									$334
$400	$798					$290							$560	$659
$200						$238		$319
$0
		4Q20	4Q21				4Q20			4Q21	4Q20			4Q21
Notes: 1. Growth rates are shown in local currency.			Credit			Debit / Prepaid									Mastercard©2022
2. Figures may not sum due to rounding.

January 27, 2022

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4th Quarter Switched Transactions and Cards

				Switched Transactions
				27% Growth
billions)	40
24.8	31.4
	30
(in	20
Transactions
10
	0
		4Q20	4Q21

Notes: Figures may not sum due to rounding.

Cards (in millions)

		Cards
4,000		9% Growth
	2,978
3,000	2,733

390

409

2,000

1,000	2,324	2,588

0

4Q204Q21

		Mastercard Cards		Maestro Cards

©2022 Mastercard

January 27, 2022

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