Announcement for September 02, 2025 at 09:16 PM UTC

Global Industry Classification Standard (GICS) Changes*

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

The following Industry changes will take place as of the close of September 30, 2025.

SUMMARY OF CHANGES INCLUDED IN THIS ANNOUNCEMENT.

                         Number of
                         GICS changes

BRAZIL                   1
ROMANIA                  1


BRAZIL

ULTRAPAR PART ON
CURRENT GICS SUB-INDUSTRY 10102040 Oil & Gas Storage & Transportation
NEW GICS SUB-INDUSTRY     25504050 Automotive Retail


ROMANIA

AQUILA PART PROD
CURRENT GICS SUB-INDUSTRY 20301010 Air Freight & Logistics
NEW GICS SUB-INDUSTRY     30101020 Food Distributors


* Twice a month, MSCI announces changes
in the Global Industry Classification Standard (GICS) at Industry level. For
every change, the whole Sub-Industry code is provided. Changes at Sub-Industry
level only are not announced.

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

                                     End of announcement.
                                     Further announcements may occur as needed.