Employee Engagement Defined ENGAGEMENT The extent to which

Employee Engagement Defined ENGAGEMENT The extent to which employees are motivated to contribute to organizational success, are willing to apply discretionary effort to accomplishing tasks important to the achievement of organizational goals, and intend to stay. IBM Confidential 1

Headlines • Employee Engagement – Overall Engagement increased 4 points – Meaningful increases in satisfaction and recommendation of Moody – Pride in working for Moody continues as a strength year over year – Several departments with increases of five or more points • Survey Item Details – Improvement in all pulse survey items! – Meaningful increases in items measuring trust • Ratings of trust in leadership, commitment to ethical decisions and to providing high quality products are now just below the IBM Norm – Meaningful increases in items measuring future vision • Ratings of employees’ belief in a positive future increased 13 pts. , being motivated by Moody’s vision increased 15 pts. and perceptions of change in order to compete effectively increased 8 pts. – Just 42% of employees believe change will occur as a result of the survey IBM Confidential 2

Survey Facts Survey Administration Participants IBM Confidential • Pulse Survey Administration - November, 2018 • 501 employees returned a completed Pulse Survey Methodology • Web Survey - 12 question items • Five-point scale – Strongly Disagree to Strongly Agree • Reports are available for groups of at least five respondents IBM Benchmark • IBM Benchmark – three year rolling database with over 400 organizations and nearly 15 million respondents 3

Moody Overall Employee Engagement Index 100 % Favorable 80 70 60 73 75 66 71 40 2018 Pulse • IBM Confidential 2018 2015 2013 IBM Norm The Engagement Index increased four points and is just below the IBM Norm 4

Employee Engagement Items Engagement Index Items: SATISFACTION ADVOCACY COMMITMENT • Overall, I am extremely satisfied with this company as a place to work. • I would recommend this company as a great place to work. • I rarely think about looking for a new job with another company. • I am proud to work for this company. PRIDE IBM Confidential 5

Employee Engagement Items • • • Meaningful increases in satisfaction and recommendation of Moody Pride in working for Moody continues to be a strength and is now above the IBM Norm 56% of employees report rarely thinking about looking for a new job 100 +5 % Favorable 80 60 70 66 73 75 71 73 +5 68 77 77 74 69 81 78 84 72 74 72 64 56 55 85 80 61 63 59 40 20 0 Employee Engagement Index Overall, I am extremely I would recommend this I rarely think about satisfied with this company as a great looking for a new job company as a place with another place to work. company. 2018 Pulse IBM Confidential 2018 2015 2013 I am proud to work for this company. IBM Norm 6

Trust Items • Meaningful increases in items measuring trust • Employee ratings of trust in leadership, commitment to ethical decisions and to providing high quality products are now just below the IBM Norm 100 +7 % Favorable 80 60 +8 67 67 59 72 68 79 +9 59 57 57 +11 72 77 83 81 77 74 78 78 66 62 48 40 20 0 I trust the senior There is open and honest leadership of this company. two-way communication at this company. 2018 Pulse IBM Confidential 2018 This company shows a Senior leadership is commitment to ethical committed to providing high business decisions quality products and conduct. and services to external customers. 2015 2013 IBM Norm 7

Future Vision Items • Meaningful increases in employees’ belief in a positive future, being motivated by the vision and perceptions of changes being made to compete effectively 100 % Favorable 80 60 • Though a +2 gain, less than half of employees believe that positive change will happen as a result of the survey +13 70 69 74 76 +15 69 61 57 61 +8 64 60 59 56 51 46 40 70 70 42 40 41 46 20 0 I believe this company has an outstanding future. The senior leadership of this company has communicated a vision of the future that motivates me. 2018 Pulse IBM Confidential 2018 This company is making changes necessary to compete effectively. 2015 2013 I believe that positive change will happen as a result of this survey. IBM Norm 8

The Four Step Action Process 1 Review Understand the strengths, weaknesses, opportunities and trends in the scores IBM Confidential 2 3 4 Discuss Plan Actions Share and discuss to clarify why people feel the way they do about these topics Decide what can be done, how it will be done, who will do it and how it will be measured Commit Follow through on planned actions and communicate progress as they are implemented 9