Increase speed for match formula on over 130k rows

I have a dataset which is a little over 130k rows. Right now I run a match on the dataset against a master file (Column A) to return a true/false. All of this is in the same workbook.

=ISNUMBER(MATCH(A2,Data!A:A,0))

If I run this formula on all recordd it takes about 20 minutes to run so I have been splittling the dataset up into smaller more manageble pieces.

Just found out today I need to add another match and compare 2 columns (A & B) to return true/false.

=ISNUMBER(MATCH(A2&B2,INDEX(Data!A:A&Data!B:B,0),0))

Is there some way to speed this process up so I can run it on all 130k at a time?

Also, been trying but can't seem to figure it out, but is there a way to incorporate the method were you search for where the data starts, then find the length and use all this information in an Offset construct.

So, instead of searching all 130k records you narrow the search and now only query against maybe 10k. Also, with Offset being volatile will this just add to the processing time.

Sample attached, but just contains a small amount of data.