S&P Global (SPGI) official guidance

Our updated financial guidance assumes billed issuance growth in the mid to high single-digit range.

| Diluted EPS | $16.25 to $16.50 | $17.70 to $17.95 |

We expect adjusted EPS in the range of $17.50-$17.75, representing double-digit growth across the entire guidance range.

| Diluted EPS | $16.35 to $16.60 | $17.50 to $17.75 |

| Diluted EPS | $19.40 to $19.65 |

Finally, adjusted diluted EPS is expected to be in the range of $19.40-$19.65, representing growth of 9%-10% year-over-year, driven by operating income growth and share count reduction, partially offset by a higher tax rate.

| Diluted EPS | $19.40 to $19.65 |

We are now assuming $250 billion-$300 billion in hyperscaler issuance for the full year and double-digit growth in M&A-related issuance.

We are now assuming $250 billion-$300 billion in hyperscaler issuance for the full year and double-digit growth in M&A-related issuance.

| Operating Profit Margin expansion | 310 to 335 bps | 75 to 100 bps |

| Operating Profit Margin expansion | 335 to 360 bps | 35 to 60 bps |

| Operating profit margin expansion | 10 to 35 bps |

Including the impact of OSTTRA, we would expect adjusted operating margins to expand by 10-35 basis points.

| Operating profit margin expansion | 10 to 35 bps |

| Operating Profit Margin expansion, excluding OSTTRA | -- | 125 to 150 bps |

We now expect consolidated margin ex OSTTRA to expand 75-100 basis points this year.

| Operating Profit Margin expansion, excluding OSTTRA | -- | 75 to 100 bps |

We are also reiterating our guidance for 50 to 75 basis points of margin expansion in 2026, excluding the impact of Ostra.

| Operating profit margin expansion, excluding OSTTRA | 50 to 75 bps |

Excluding the contributions from OSTTRA in 2025, we expect to expand margins in 2026 by 50-75 basis points.

| Operating profit margin expansion, excluding OSTTRA | 50 to 75 bps |

| Organic, Constant Currency Revenue growth | -- | 7.5% to 8.5% |

On a consolidated basis, we expect organic constant currency revenue growth in the range of 6%-8%.

| Organic, Constant Currency Revenue growth | -- | 6.0% to 8.0% |

At the consolidated level, we are reiterating our guidance for organic constant currency revenue growth in the range of 6%-8%.

| Organic, Constant Currency Revenue growth | 6.0% to 8.0% |

On an organic constant currency basis, we expect revenue growth of 6%-8%.

| Organic, Constant Currency Revenue growth | 6.0% to 8.0% |

The Company continues to expect to repurchase more than $7 billion in shares in total in 2026.

In aggregate, this means we expect to repurchase $7 billion in shares this year, representing more than 5% of our total market capitalization at the current share price.

Given the strength and resilience of our business and our confidence in its long-term profitable growth, we believe the current share price reflects an attractive opportunity to increase our repurchases from the expected 85% of adjusted free cash flow to at least 100% or to roughly $4.5 billion for the year.

You know, just given the market environment, the strength of our balance sheet, but also, you know, the stock price levels that we're seeing, we're likely to do a higher buyback this first quarter in 2026. I think last year was in the $650 million range. This year, we're targeting about $1 billion of buyback and see that as a way to expand EPS in these volatile markets.