S&P Global Inc.

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CEO Variable Pay Decisions

Martina L. Cheung: President and Chief Executive Officer

Ms. Cheung joined the Company in May 2010 as Vice President of Operations for S&P Global Ratings and went on to serve as S&P Global’s Chief Strategy Officer. Ms. Cheung previously served as President, S&P Global Market Intelligence from January 2019, after which she served as President, S&P Global Ratings and Executive Lead of Sustainable1 from February 2022. Ms. Cheung was appointed President and Chief Executive Officer effective November 1, 2024.

As President, S&P Global Ratings prior to November 1, Ms. Cheung:

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Drove exceptional results in Ratings, achieving significant outperformance on S&P Global Ratings’ non-GAAP ICP Adjusted Revenue (achieving 31% year-over-year growth to $4,373 million) and non-GAAP ICP Adjusted EBITA Margin (expanded 762 bps to 64.1%), and drove enterprise sustainability growth within divisions, while scaling cross-divisional growth and value creation.

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Strengthened relationships with customers, investors and other stakeholders through increased client outreach and engagement, active participation in key industry groups and investor conferences, and development of strategic partners.

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Transformed technology and data profile of S&P Global Ratings, modernizing and scaling the analyst experience and workflow, unlocking opportunities through increased automation, and driving GenAI adoption by launching a proprietary internal GenAI tool for S&P Global Ratings, SparkAIR.

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Demonstrated strong leadership by advancing Ratings strategy across enterprise growth themes, completing successful leadership transitions, aligning teams and processes to accelerate client delivery, and fostering talent and career development across the extended leadership team.

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As President and CEO starting November 1, Ms. Cheung:

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Designed and established key functions and strategies, including the Chief Client Office to scale cross-divisional growth, the Enterprise Data Office to drive growth by leveraging data as an enterprise asset, and multi-lateral development of the enterprise GenAI strategy.

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Deepened relationships with strategic partners and enterprise customers to create growth opportunities; engaged actively through 100+ external meetings and participation in key industry events.

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Engaged with shareholders and regulators, and actively participated in key investor conferences.

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Ms. Cheung received a payout of $2,615,748, representing 160.97% of her blended target award. The Compensation Committee’s decision was based on Ms. Cheung’s 2024 performance, the Company’s business results and progress toward our strategic initiatives.

For details on Ms. Cheung’s 2024 annual long-term incentive grant, see our Long-Term Incentive Program discussion and our 2024 Grants of Plan-Based Awards Table below.

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2025 Proxy Statement 49