Mastercard Incorporated Third Quarter 2025 Financial Results Conference Call October 30, 2025 Business Update Business Highlights Financial Overview October 30, 2025 2 ©2025 Mastercard Michael Miebach: 3rd Quarter Selected Financial Performance ($ in millions, except per share data) | | 3Q 25 | | 3Q 24 | | YOY Growth | | | --- | --- | --- | --- | --- | --- | --- | | | Non-GAAP | | Non-GAAP | | As adjusted | Currency-neutral | | Net revenue | $ | 8,602 | $ | 7,369 | 17% | 15% | | Adjusted operating expenses ...