On April 28, 2023, Mastercard Incorporated announced that it has received a shareholder proposal from American Conservative Values ETF requesting that Mastercard issue a public report prior to December 31, 2023, omitting confidential and privileged information and at a reasonable expense, detailing a cost vs. benefits analysis of Company?s Global Diversity & Inclusion efforts. A summation of this report should subsequently be included in the next annual update of the Company?s Global Diversity & Inclusion Report.

In addition, the Company urged the shareholders to vote against the shareholder proposal at its annual general meeting of shareholders scheduled to be held on June 27, 2023.