S&P Global Inc.

“is a global, diversified, and highly differentiated provider of benchmarks, data, analytics and workflow solutions in the global capital, energy and commodity, and automotive markets”

“We are a global, diversified, and highly differentiated provider of benchmarks, data, analytics and workflow solutions in the global capital, energy and commodity, and automotive markets.”

“Our operations consist of five businesses: S&P Global Market Intelligence (“Market Intelligence”), S&P Global Ratings (“Ratings”), S&P Global Energy (“Energy”), S&P Global Mobility (“Mobility”) and S&P Dow Jones Indices (“Indices”).”

“an increase in sales usage-based royalties revenue and an increase in conference revenue driven by increased attendance at CERAWeek in 2025”

“Market Intelligence is a global provider of multi-asset-class data and analytics integrated with purpose-built workflow solutions.”

“The capital markets include asset managers, investment banks, commercial banks, insurance companies, exchanges, trading firms and issuers”

“Sales usage-based royalties — primarily from licensing our proprietary market price data and price assessments to commodity exchanges”

“Transaction revenue primarily includes fees associated with: •ratings related to new issuance of corporate and government debt instruments, as well as structured finance debt instruments”

“•Data, Analytics & Insights — a desktop product suite that provides data, analytics and third-party research for global finance and corporate professionals, which includes the Capital IQ platforms”

“Mobility’s core information products provide critical information and insights to all global OEMs, most of the world’s leading suppliers, and the majority of the top North American dealerships.”

“•Sales usage-based royalties — primarily from licensing our proprietary market price data and price assessments to commodity exchanges”

“The joint venture provided trade processing and risk mitigation operations and incorporated CME Group’s optimization businesses (Traiana, TriOptima, and Reset) and the Company’s MarkitSERV business”

“Revenue$15,336 $14,208 $12,497 8%14%”

“Revenue$2,299 $2,142 $1,946 7 %10 % ... Operating profit $943 $845 $704 12 %20 % % Operating margin41 %39 %36 %”

“Foreign exchange rates had a favorable impact of less than 1 percentage point.”

“Certain of our third-party data sources supply us with critical datasets that support our products and services for which suitable alternative sources may not be readily available.”

“we had approximately 44,500 permanent employees located worldwide, including around 26,200 in Asia, 11,050 in the U.S. and Canada, 6,200 in Europe, Middle East, and Africa, and 1,050 in Latin America”

“On May 14, 2024, we completed the acquisition of World Hydrogen Leaders... The acquisition of World Hydrogen Leaders is not material to our consolidated financial statements.”

“the acquisition of Visible Alpha in May of 2024 and With Intelligence in November of 2025”

“An increase in sales usage-based royalties from the licensing of our proprietary market data to commodity exchanges due to increased trading volumes for Platts based contracts across all commodity sectors also contributed to revenue growth.”

“the continued growth of publicly available free or relatively inexpensive information could materially reduce demand for our products and services”

“On April 29, 2025, we announced that our Board of Directors decided to pursue a full separation of our Mobility segment, creating a new publicly traded company.”

“As of May 2, 2023, we completed the sale of S&P Global Engineering Solutions”

“As of May 2, 2023, we completed the sale of S&P Global Engineering Solutions (“Engineering Solutions”), a provider of engineering standards and related technical knowledge”

“On October 10, 2025, the Company and CME Group completed the sale of OSTTRA to Kohlberg Kravis Roberts & Co. (“KKR”)... The terms of the deal for OSTTRA equaled total enterprise value at $3.1 billion”

“The increase at Indices was primarily due to higher asset-linked fees revenue, higher exchange-traded derivative revenue and higher data subscription revenue.”

“growth within the Dealer and Financial businesses driven by continued new business growth within the Dealer business, strong underwriting volumes and market share growth within the Financial business”

“On April 29, 2025, we announced that our Board of Directors decided to pursue a full separation of our Mobility segment, creating a new publicly traded company.”

“Our strategy focuses on three key objectives: to Advance market leadership, Expand high-growth adjacencies, and Amplify enterprise capabilities and integration of AI.”

“The increase was primarily due to revenue growth and decreased incentives, partially offset by higher compensation costs driven by annual merit increases and additional headcount, investment in strategic initiatives and expenses associated with the acquisition of World Hydrogen Leaders.”

“higher compensation costs driven by annual merit increases and additional headcount, and investments in strategic initiatives”

“Key strategic initiatives for Energy in 2026 include developing new products and enhancements leveraging technology investments and geographic expansion.”

“In January of 2011, the EU established the European Securities and Markets Authority ("ESMA"), which, among other things, has direct supervisory responsibility for the registered credit rating industry throughout the EU.”

“The SEC is given authority and oversight of NRSROs and can censure NRSROs, revoke their registration or limit or suspend their registration in certain cases.”

“Since January 2025, Ratings has been subject in the EU to new operational resilience and cyber security standards under the Digital Operational Resilience Act”

“Energy has obtained authorization and is now supervised by the Dutch Authority for the Financial Markets in the Netherlands under the EU Benchmark Regulation”

“Ratings was granted registration with the U.K. Financial Conduct Authority ("FCA") on January 1, 2021.”

“more sophisticated and targeted attacks, including attacks carried out by state-sponsored actors, intended to obtain unauthorized access to certain information or information systems or networks due in part to our prominence in the global marketplace”

“Our inability to innovate and compete with new or enhanced products and services of our competitors could have a material adverse effect on our business, financial condition or results of operations.”

“customers may use other strategies to reduce their overall spending on financial, energy and commodity market and automotive products and services by consolidating their spending with fewer vendors, including by selecting other vendors with lower-cost offerings, or by self-sourcing”

“Any failures, negative publicity, investigations, or lawsuits that implicate the independence and integrity of our credit ratings, pricing and valuation services, benchmarks, indices, and ESG scores and data could result in a loss of confidence”

“We have transitioned an important portion of our technology to a cloud-based infrastructure, which is complex, time consuming, and involves substantial expenditures.”

“sustainability and corporate responsibility state, federal and international laws, regulations, standards and regulatory expectations are evolving, varied and at times conflicting”

“Some of our agreements with data suppliers allow them to cancel on short notice. Termination of significant data agreements or exclusion from, or restricted use of, or litigation in connection with, significant third-party data assets could result in a substantial decrease of the available information”

“a disaster on a significant scale or affecting certain of our key operating areas within or across regions, or our inability to successfully recover should we, our third-party service providers or our clients experience a disaster or other business continuity problem, could materially interrupt our business operations”

“We have experienced insider trading incidents involving employees in the past, and it is not always possible to deter misconduct by employees or third-party vendors.”

“assessing the impact of events that create volatility and economic uncertainty, such as the ongoing military conflicts between Russia and Ukraine and in the Middle East, tensions across the Taiwan Strait and U.S. intervention in Venezuela”

“Many of our suppliers are also our competitors, and from time to time they negotiate to change the terms of the data and products that they supply to us in order to gain an advantage in the marketplace”

“The consolidation of our suppliers has reduced the number of firms we partner with, which has impacted the size of our supplier base for certain products and services and resulted in an increase in fees charged by certain of our supplier partners.”