2018 Guide to Effective Proxies

6 TH EDITION | GUIDE TO EFFECTIVE PROXIES 168 MASTERCARD, INC. METLIFE, INC. MICROSOFT CORPORATION MONSANTO COMPANY 2018MastercardProxy| CorporateGovernance 13 NomineesforElectionasDirectors Afterconsideringanumberofcandidatessubmittedthroughournominationprocess,includinga comprehensivereviewofthecandidates'abilitiesandqualifications,theNCGrecommendedthatChoon PhongGohbeappointedtotheBoardinApril2018andMr.Davisbenominatedtostandforelectionbythe stockholders. Mr.GohwasappointedtotheBoardtoserveasadirectorinApril2018. Mr.Gohoriginally wasrecommendedbyanon-managementdirector,andMr.DaviswasrecommendedbyourCEO. BasedontheNCG’srecommendation,theBoardnominatedMr.Davistoserveasadirectorandapproved anincreaseinthesizeoftheBoardto14membersifMr.DavisiselectedbythestockholdersattheAnnual Meeting. Thestrongqualificationsthatmakeourdirectornominees,includingMr.Davis,highlyvaluableassetstoour Boardarefurtherdescribedbelow. AttheAnnualMeeting,14directorsaretobeelectedtoeachholdofficeuntilthenextannualmeetingof stockholdersoruntilhisorhersuccessoriselectedandqualified. TheBoardhasapprovedthenomination ofthefollowingdirectors: RichardHaythornthwaite(Chairman) ChoonPhongGoh AjayBanga(PresidentandCEO) MeritE.Janow SilvioBarzi NancyKarch DavidR.Carlucci OkiMatsumoto RichardK.Davis RimaQureshi StevenJ.Freiberg JoséOctavioReyesLagunes JuliusGenachowski JacksonTai EachnomineewasapprovedbytheNCGandrecommendedtotheBoardforapprovalfollowingan evaluationofhisorherqualificationsand(exceptforMessrs.DavisandGoh)priorBoardservice. Each nomineehasagreedtobenamedinthisproxystatementandtoserveifelected.Belowisasummaryofthe primaryexperience,qualificationsandskillsthatourdirectornomineesbringtotheBoard: Inlightoftheindividualexperiencesandqualificationsofeachofourdirectornominees,ourBoardhas concludedthateachofourdirectornomineesshouldbeelectedattheAnnualMeeting. Biographiesofeachnomineefollow. Payments 10 CEOExperience 10 PublicCompanyBoardExperience 13 Financial 13 GlobalPerspective 13 9 InformationSecurity Regulatory&Governmental 11 11 Digital&Innovation 10 Consumer ProxySummary Director Nominees’ Experience, Tenure, Independence and Diversity TheCompanyhasnominatedhighly-qualified,independentleaderstocontinuetoserveonitsBoardofDirectors. 91%Independent 10 1 Independent Non-Independent CEO Accountable • AllDirectorselectedannually • RobustindependentLeadDirectorrole • Majorityvotingstandard GenderDiversity • 27%women Diversity of Skills and Experiences 7 7 3 8 6 5 8 6 9 9 10 Executive Leadership For amoredetaileddescription of the above skills and experiences, see “BoardComposition and Refreshment” on page12 of this Proxy Statement. CorporateGovernance / PublicCompany Board Financial Services Global Literacy Regulated Industry /Government Investments Financial Expertise,CFO andAudit RiskManagement Consumer Insight /Analytics Technology CorporateAffairs OngoingBoardRefreshment RetirementAge+AnnualBoardEvaluation+ CommitmenttoOngoingRefreshment SixnewDirectorssince2013 Averagetenure6.6years DiversityofTenure 2 4 2 3 0-2Years 3-5Years 6-10Years 11-15Years 2018ProxyStatement 8 Total of 02 pages in section ProxyItemNo.1:ElectionofDirectors DirectorNominees Summary of Director Core Competencies Thefollowingchartsummarizesthecompetenciescurrentlyrepresentedonourboard;thedetailsofeachdirector’scompetenciesare includedineachdirector’sprofile. Competency/Attribute Operating Financial International Agricultureor Food Industry Scientific/Technology/Information Technology Risk/CrisisManagement Marketing Government/Regulatory 54 1 Chemical/Commodity Industry Governance/BusinessConduct/Legal Additional Information Age Tenure OtherPublicCompanyBoards Barns Boyce Chicoine Grant Ipsen Lutz Fields McMillan Moeller Poste Stevens Verduin • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • 1 63 2 4 70 8 1 62 9 59 2 14 1 53 7 0 47 3 1 71 17 0 53 6 0 73 14 1 66 15 1 58 2 0 Age Tenure OtherPublicCompanyBoards 47 73 NumberofDirectors AgeofDirectors median:60.5 4directors 0-4years 4directors 10+years 4directors 5-9years NumberofDirectors NumberofOtherPublicCompanyBoards 0 1 2 AverageAge=61years AverageTenure=8.3years Average= < 1OtherBoard Competency/AttributeBarnsBoyceChicoineFieldsGrantIpsenLutzMcMillanMoellerPosteStevensVerduinOperatingFinancialInternationalAgricultureorFoodIndustryScientific/Technology/InformationTechnologyRisk/CrisisManagementMarketingGovernment/RegulatoryChemical/CommodityIndustryGovernance/BusinessConduct/LegalAdditionalInformationAge546370625953477153736658Tenure1489147317614152OtherPublicCompanyBoards12121010011046median:6072NumberofdirectorsAgeofdirectors4directors0-4years5directors10+years4directors5-9years MONSANTOCOMPANY2017PROXYSTATEMENT 17 3 NAMED RECIFFO EVITUCEXE COMPENSATION 4 AUDIT COMMITTEE MATTERS 5 OTHER MANAGEMENT PROPOSALS 6 INFORMATION ABOUTTHE MEETING 1 CORPORATE GOVERNANCE ATMICROSOFT 2 BOARDOF DIRECTORS Keyboardqualifications,expertise,andattributes Thetablebelowsummarizesthekeyqualifications,skills,andattributesmostrelevanttothedecisiontonominatecandidates toserveontheBoard.AmarkindicatesaspecificareaoffocusorexpertiseonwhichtheBoardparticularlyrelies.Nothavinga markdoesnotmeanthedirectordoesnotpossessthatqualificationorskill.Directorbiographiesbelowdescribeeach director’sbackgroundandrelevantexperienceinmoredetail. Definitionsofdirectorqualifications Financial Leadershipofafinancialfirmormanagementofthefinancefunctionofanenterprise,resulting inproficiencyincomplexfinancialmanagement,capitalallocation,andfinancialreporting processes. Gender,ethnic,national, orotherdiversity Representationofgender,ethnic,geographic,cultural,orotherperspectivesthatexpandthe Board’sunderstandingoftheneedsandviewpointsofourcustomers,partners,employees, governments,andotherstakeholdersworldwide. Globalbusiness Experiencedrivingbusinesssuccessinmarketsaroundtheworld,withanunderstandingof diversebusinessenvironments,economicconditions,cultures,andregulatoryframeworks,anda broadperspectiveonglobalmarketopportunities. Leadership Extendedleadershipexperienceforasignificantenterprise,resultinginapracticalunderstanding oforganizations,processes,strategicplanning,andriskmanagement.Demonstratedstrengthsin developingtalent,planningsuccession,anddrivingchangeandlong-termgrowth. Mergersandacquisitions Ahistoryofleadinggrowththroughacquisitionsandotherbusinesscombinations,withthe abilitytoassess“buildorbuy”decisions,analyzethefitofatargetwithacompany’sstrategy andculture,accuratelyvaluetransactions,andevaluateoperationalintegrationplans. Publiccompanyboard serviceandgovernance Serviceonapubliccompanyboardtodevelopinsightsaboutmaintainingboardand managementaccountability,protectingshareholderinterests,andobservingappropriate governancepractices. Salesandmarketing Experiencedevelopingstrategiestogrowsalesandmarketshare,buildbrandawarenessand equity,andenhanceenterprisereputation. Technology Asignificantbackgroundworkingintechnology,resultinginknowledgeofhowtoanticipate technologicaltrends,generatedisruptiveinnovation,andextendorcreatenewbusinessmodels. Gates Hoffman Johnston Nadella List-Stoll Noski Panke Peterson Pritzker Scharf Stanton Thompson Warrior Sorenson Experience,expertise,orattributes Gender,ethnic,national,orotherdiversity Financial Globalbusiness Leadership Mergersandacquisitions Public companyboard serviceandgovernance Salesandmarketing Technology Experience,expertise,orattributesGatesHoffmanJohnstonList-StollNadellaNoskiPankePetersonPritzkerScharfSorensonStantonThompsonWarriorFinancialGender,ethnic,national,orotherdiversityGlobalbusinessLeadershipMergersandacquisitionsPubliccompanyboardserviceandgovernanceSalesandmarketingTechnology 2017PROXYSTATEMENT 15