Announcement for June 24, 2021 at 08:45 PM GMT

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

TREATMENT FOR THE MSCI ARGENTINA INDEX IN THE CONTEXT OF ITS RECLASSIFICATION TO STANDALONE MARKETS STATUS

MSCI announced today that it will reclassify the MSCI Argentina Index from Emerging Markets to Standalone Markets status in one step coinciding with the November 2021 Semi-Annual Index Review (SAIR). Beginning at the November 2021 SAIR, the MSCI Argentina Index will be maintained using thresholds for Smaller, Average Liquidity Frontier Markets to better align its equity universe with appropriate Size and Liquidity requirements.

In order to minimize reverse turnover at the time of the reclassification, MSCI will not implement any changes such as migrations between size-segments, additions of newly eligible securities including sizable IPOs, potential Foreign Inclusion Factor (FIF) and Number of Shares updates as well as GICS changes in the MSCI Argentina Indexes as part of the August 2021 Quarterly Index Review. Such changes, if still relevant, will be implemented coinciding with the November 2021 SAIR.

In addition, until the effective date of the November 2021 SAIR, MSCI will defer the implementation of corporate events not requiring a Price Adjustment Factor (PAF), such as placements, block sales, recapitalizations and sizable IPOs, and will exceptionally freeze potential migrations due to corporate events for the MSCI Argentina Indexes. By contrast, MSCI will continue implementing corporate events requiring PAFs, such as stock splits, consolidations, rights issues, buybacks as well as deletions resulting from delistings, bankruptcies and merger and acquisitions as well as prolonged suspensions at the time of the event. Sizable corporate events requiring PAFs which are likely to cause potential reverse turnover would be reviewed on a case by case basis. The treatment of such specific corporate events would be announced to all clients with sufficient advance notice through regular Index email announcements.

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

                                     End of announcement.
                                     Further announcements may occur as needed.