Risk Factors Update Summary

• Added inherited litigation risk may increase post-acquisition costs and impact financing. This could result in higher operational costs.
• Central banks and regulatory bodies have increased oversight of payments systems, potentially impacting operations.
• Failure to comply with new laws or designations may lead to magnified risks and conflicts across jurisdictions.
• Increased speed of bank failures may heighten potential losses, impacting financial stability.
• New regulations and oversight may lead to increased compliance costs and conflicts across jurisdictions.
• Designation as a "critical infrastructure" could result in heightened regulatory scrutiny and oversight.
• Expansion of local payment structures globally may challenge traditional payment solutions and impact market competitiveness.
• Mastercard Foundation now permitted to sell remaining shares, diversifying over a seven-year period.
• Increased interest in network fees regulation globally could impact formal oversight of the electronic payments industry.
• Changes in regulations may lead to reduced benefits for consumers and impact product competitiveness.