S&P Global Inc.

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CEO Variable Pay Decisions

Martina Cheung: President and Chief Executive Officer

Ms. Cheung joined the Company in May 2010. After multiple roles with the Company, including Chief Strategy Officer, President, S&P Global Market Intelligence, President, S&P Global Ratings and Executive Lead of Sustainable1, Ms. Cheung was promoted to her current role as President and Chief Executive Officer effective November 1, 2024.

As President and Chief Executive Officer, Ms. Cheung:

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Achieved strong revenue growth across the enterprise and delivered meaningful margin expansion and diluted EPS growth, while also gaining momentum in strategic focus areas. In 2025, enterprise non-GAAP ICP Adjusted Revenue increased 7.1% to $15,216 million, non-GAAP ICP Adjusted EBITA Margin expanded 187 basis points to 50.8% and non-GAAP ICP Adjusted EPS increased at a compounded annual growth rate of 17.6% for the 3-year performance period ended 2025 to $18.20. The Company returned $6.2 billion to shareholders, or 113% of adjusted free cash flow, which included the repurchase of over $5 billion in stock, while maintaining a steady record of more than 50 consecutive years of dividend increases.

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Led strong financial stewardship through disciplined capital allocation across ROI-driven growth investments, rigorous and proactive portfolio management, successful execution on key M&A and divestitures and meaningful progress toward the Mobility separation.

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Delivered new enterprise mission, strategy and medium-term plan via Investor Day in November 2025, which received very positive feedback from investors and analysts.

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Deepened relationships with customers, strategic partners and critical stakeholders to create growth opportunities; increased outreach, engaging with over 350 clients, partners and stakeholders; and secured multiple strategic partnerships and collaborations to enhance competitive positioning and facilitate growth opportunities.

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Successfully scaled Chief Client Office and Enterprise Data Office, achieving full year targets for revenue growth and productivity.

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Accelerated new product and delivery channel innovation, enhancing the value proposition to clients; this includes numerous major AI products and features, new strategic partnerships (e.g. private markets partnership with Cambridge Associates and Mercer), innovative new offerings (e.g. launched S&P 500 fund token) and delivery channels (e.g. Microsoft CoPilot and Anthropic Claude).

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Transformed technology and data capabilities by making AI training and platforms available to all employees, redesigning end-to-end processes for our largest employee groups and launching Kensho Labs.

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Demonstrated strong enterprise leadership fostering strong employee engagement and preparing the organization for growth and transformation, while leading a committed, tightly aligned and disciplined executive team.

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Ms. Cheung received a payout of $2,445,300, representing 108.68% of her target award. The Compensation Committee’s decision was based on Ms. Cheung’s 2025 performance, the Company’s business results and progress toward our strategic initiatives.

For details on Ms. Cheung’s 2025 annual long-term incentive grant, see our“Long-Term Incentive Program” discussion and our“2025 Grants of Plan-Based Awards Table” below.

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2026 Proxy Statement 49