Announcement for January 27, 2026 at 09:25 PM GMT

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

(Re: Announcement dated September 30, 2025; Sequence Number: 00768.ALL)

MSCI announced today the conclusion of its recent consultation on certain topics related to free float.

Based on the feedback from market participants, MSCI will implement the following:

Insurance company holdings:

- In France, Germany, and Italy, the current 2 percent threshold will be removed, and insurance company holdings will be classified as free float unless there is evidence of strategic ownership such as board representation or other relevant signals.

- In Japan, the 2 percent threshold will be retained, with insurance company holdings above this level classified as non-free float.

Sovereign Wealth Fund (SWF) holdings:

- For SWF holdings outside their country of domicile, the current 7 percent holding threshold will be retained.

- In addition, for holdings below 7 percent, evidence of strategic ownership such as board representation or other relevant signals will be considered in determining free float classification.

Total Return Swaps:

- MSCI will classify equity total return swaps between any non-free float shareholder (including the company itself) and a free float shareholder or financial institution as non-free float.

The MSCI Global Investable Market Indexes Methodology will be updated to reflect these changes on or before March 31, 2026 and the changes will be implemented starting from the May 2026 Index Review.

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

                                     End of announcement.
                                     Further announcements may occur as needed.