Mastercard Incorporated

Fourth-Quarter and Full Year 2018 Financial Results Conference Call

January 31, 2019

Business Update

Financial Overview

Economic Update

Business Highlights

4th Quarter Selected Financial Performance

($ in millions, except per share data)

Net revenue

Total operating expenses Operating income

Operating margin Net income

Diluted EPS

Effective tax rate

4Q 18 Non-GAAP1

$

3,807

1,816

1,991

52.3%

$ $

1,611

4Q 17 Non-GAAP1

$

3,312

1,623

1,689

51.0%

$ $

1,208

1.55 18.3%

1.14 26.8%

1 Excludes the impact of Special Items. See Appendix A for Non-GAAP reconciliation.

Non-GAAP

YOY GrowthCurrency Neutral

15% 17%

12% 14%

18% 21%

1.3 ppt

1.4 ppt

33% 36%

36% 40%

4th Quarter Gross Dollar Volume (GDV)

($ in billions)

Worldwide

United States

Rest of World

14% Growth

10% Growth

16% Growth

$1,800

$1,600

$1,400

$1,200

$1,000

$800

$600

$400

$200

$0

4Q17

4Q18

4Q17

4Q18

4Q17

4Q18

Credit

Debit / Prepaid

Notes: 1. Growth rates are shown in local currency.

2. Figures may not sum due to rounding.

4th Quarter Switched Transactions and Cards

Switched Transactions

13% Growth 17% Adjusted Growth*Transactions (in millions)

24,000

21,000

18,000

15,000

12,000

9,000

6,000

3,000

20,124

17,739

0

7% Adjusted Growth*

Cards

5% Growth

3,000

2,500

Cards (in millions)

2,000

1,500

1,000

500

0

2,407

595

496

2,022

1,812

2,518

4Q17

4Q17

4Q18

Mastercard Cards

Maestro Cards

Note: Figures may not sum due to rounding.

*Adjusted for the impact of Venezuelan deconsolidation and to eliminate the impact of differing switching days between periods.

4Q18

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MasterCard Inc. published this content on 31 January 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 31 January 2019 13:03:03 UTC