Announcement for December 23, 2020 at 10:02 PM GMT

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

Availability of MSCI J-Series indexes following MSCI's decision on U.S. Executive Order 13959, dated November 12, 2020 (the "Order")

As previously communicated, as of the close of business on January 5, 2021 MSCI is deleting from the Global Investable Market Indexes (GIMI) and its other relevant indexes the securities of the Chinese companies referenced in the Order, and for each standard and custom index impacted by the Order, MSCI plans to make available a new and separate MSCI J-Series index which does not reflect those changes to give clients flexibility in choosing the indexes that best suit their investment needs.

As they become available these new MSCI J-Series indexes will be automatically distributed via FTP in independent Integrated Client File (ICF) packages to clients subscribing to indexes impacted by the Order.  Automatic delivery for certain MSCI J-Series indexes will initiate at the close of business Eastern Standard Time on December 30, 2020.  Automatic delivery of additional MSCI J-Series indexes will initiate at a later date to be communicated by MSCI. The MSCI J-Series indexes will also be available via the MSCI Index API.

The MSCI Technical Communication sent today, further describes in detail the files and distribution of the MSCI J-Series indexes.

Please note that the MSCI J-Series indexes distributed on December 30, 2020 will reflect MSCI's December 15, 2020 announcement and will not reflect changes that may result from MSCI's planned announcement of the final list of security deletions on December 30, 2020.

No further action by you is required to receive the MSCI J-Series indexes in the ICFs, which are automatically included in your data subscription to the indexes impacted by the Order, and are subject to the same terms and conditions as  "Services" under your applicable Data License agreement.

However, prior to using any MSCI J-Series indexes in connection with financial products, you must contact MSCI to obtain appropriate documentation.

MSCI also reminds users of its indexes for any purpose, including both indexed and active management, that they are responsible for ensuring compliance with all applicable sanctions and any other rules, regulations, prohibitions, laws and other restrictions applicable to their portfolios, trading and other investment activity.

Additional details on MSCI's decision on U.S. Executive Order are available at: https://www.msci.com/index-consultations

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

                                     End of announcement.
                                     Further announcements may occur as needed.