Announcement for February 12, 2024 at 11:56 PM GMT

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

TREATMENT OF COMPANIES WITH MISSING DATA IN MSCI EQUITY ESG AND CLIMATE INDEXES AND CONSULTATION ON SPECIFIC PROPOSALS FOR SELECT METHODOLOGIES

As part of the regular review of MSCI index methodologies, MSCI continues to update certain MSCI equity ESG and Climate indexes methodologies regarding the treatment of companies with missing ESG and Climate data. MSCI will also consult on a proposed specific treatment for select index methodologies.

1)     General treatment of companies with missing ESG and Climate data in MSCI equity ESG and Climate indexes

Over the last 12 months, MSCI has updated several MSCI equity ESG and Climate indexes methodology books to clarify that companies that are not assessed by MSCI ESG Research on specific ESG and Climate data used in the index exclusion criteria are not eligible for the MSCI ESG and Climate indexes.

MSCI plans to apply this treatment systematically and explicitly to all MSCI equity ESG and Climate indexes (except for select methodologies as noted below) at a date to be further communicated, but not before the May 2024 Index Review. MSCI will send further announcements in due course to confirm the implementation timeline and the availability of updated methodology books.

2)    Consultation on specific treatment of missing ESG and Climate data in select index methodologies

MSCI has launched a consultation with the investment community on the treatment of missing ESG and Climate data in the MSCI Global ex Controversial Weapons Indexes and MSCI Global ex Tobacco Involvement Indexes. Specifically:

- MSCI proposes to start excluding companies not assessed for MSCI ESG Business Involvement Screening Research data from the MSCI Global ex Controversial Weapons Indexes only if they are classified in relevant GICS sectors (Materials, Industrials).
- MSCI proposes to start excluding companies not assessed for MSCI ESG Business Involvement Screening Research data from the MSCI Global ex Tobacco Involvement Indexes only if they are classified in relevant GICS sectors (Consumer Staples, Consumer Discretionary, Materials, Industrials).

Details on the proposals are available at: https://www.msci.com/index-consultations.

MSCI invites feedback from market participants until February 29, 2024 and will announce the results of the consultation on or before March 7, 2024. To participate in the consultation, please provide your feedback through an online survey available on https://www.msci.com/index-consultations/ex_CW_ex_Tob_consultation_survey_Feb2024.

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

                                     End of announcement.
                                     Further announcements may occur as needed.