MASTERCARD INCORPORATED

Ticker: MA CUSIP: 57636Q104 Class: Common Stock

TB Capital Gestao de Recursos Ltda.'s Holding History (CIK: 0002077092)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 11,180 Value ($000) $6,382 Avg Close $558.95 Range $524.70 - $585.31

Q3 2025

Shares 8,203 Value ($000) $4,666 Avg Close $573.47 Range $545.13 - $600.98

Q2 2025

Shares 7,953 Value ($000) $4,469 Avg Close $551.47 Range $463.61 - $593.12

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	11,180	$6,382	$558.95	$524.70 - $585.31
Q3 2025	8,203	$4,666	$573.47	$545.13 - $600.98
Q2 2025	7,953	$4,469	$551.47	$463.61 - $593.12