MAMastercard

1 paragraph in Risk Factors of the 10-K filed Feb 11, 2026 with nothing like it in the 10-K filed Feb 12, 2025. Quoted exactly. Paragraphs that were only edited are under 10-K change.

Compared with the Risk Factors in the latest 10-K of the other 75 Financials companies: a paragraph with at least half its words the same at another company is called similar, and the companies are listed under it. A paragraph most of them have is marked boilerplate. No line means no other company has one like it. This counts text; it does not say how serious a risk is.

•Uncertain global trade policies and related government actions (including those related to tariffs), which could have an adverse impact on our business (including with respect to consumer and business spending) and relationships with stakeholders

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New in the latest 10-Q

6 paragraphs in the 10-Q filed Oct 29, 2026 with nothing like them in the 10-Q filed Jul 30, 2026 (at least half the words must differ; new numbers alone do not count). Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.

Financial statements and notes

The estimated fair values of the purchase price allocation as of the acquisition date is noted below.

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Acquisition Date Fair Value Weighted-Average Useful Life (in millions) (in years) Developed technologies $238 9.0 Customer relationships 125 14.0 Other intangible assets, net $363 10.7

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Proforma information related to the acquisition was not included because the impact on the Company's consolidated results of operations was not considered to be material.

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In September 2026, a separate putative class action was filed on behalf of U.S. merchants who were not members of the Damages Class claims. These merchants are seeking damages related to accepting Mastercard credit cards since January 2019.

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Since 2012, a number of United Kingdom (“U.K.”) merchants filed claims or threatened litigation against Mastercard seeking damages for excessive costs paid for acceptance of Mastercard credit and debit cards arising out of alleged anti-competitive conduct with respect to,

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In October 2026, Mastercard and Visa were served with two proposed collective action complaints in the U.K. on behalf of U.K. merchants who have accepted transactions since October 2020. The first complaint seeks damages against Mastercard of approximately £ 1.5 billion (approximately $ 2.0 billion as of September 30, 2026) with respect to consumer domestic and cross-border transactions and the second complaint seeks damages against Mastercard of approximately £ 0.4 billion (approximately $ 0.5 billion as of September 30, 2026) with respect to consumer online cross-border transactions.

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The 10-Q's risk factors against the 10-K

Item 1A of the 10-Q filed Oct 29, 2026 against Item 1A of the 10-K filed Feb 11, 2026. A 10-Q repeats only the risks that changed, so a 10-K paragraph that is missing from it is not counted as removed. Added is a paragraph with nothing like it in the 10-K, Reworded a sentence that is in both with several words changed, Quiet changes a sentence in both where one to four words changed and one is a hedge or a modal (cut words struck through, new words highlighted and underlined). Text on the page, not a score; each links to the filing at sec.gov.

What the 10-Q itself says about its risk factors:
For a discussion of our risk factors, see Part I, Item 1A - Risk Factors of our Annual Report on Form 10-K for the year ended December 31, 2025.

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1 paragraph in the 10-Q's Item 1A, and none of them adds, rewords or quietly edits a paragraph of the 10-K's.