STANDARD ANNOUNCEMENTS - February 14, 2025 at 09:04 PM GMT 
Announcement for February 14, 2025 at 09:04 PM GMT

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

CONCLUSIONS FROM THE CONSULTATION ON POTENTIAL ENHANCEMENTS TO THE MSCI MOMENTUM INDEXES METHODOLOGY AND MSCI MINIMUM VOLATILITY INDEXES METHODOLOGY

MSCI announced today the conclusions from its recent consultation on potential enhancements to the MSCI Momentum Indexes methodology and MSCI Minimum Volatility Indexes methodology.
Following the feedback from market participants, MSCI will implement the following proposed enhancements to:

MSCI Momentum Indexes methodology:

* Rebalancing Frequency - Change the rebalancing frequency from semi-annually to quarterly.
* Turnover Mitigation - To balance the timely reflection of momentum factor exposure with controlled turnover, weight adjustments and additions will be implemented gradually, with only half of the change applied from the current weight to the pro-forma weight.

MSCI Minimum Volatility Indexes methodology:

* Rebalancing Frequency - The rebalancing frequency will change from semi-annual to quarterly, with turnover limits adjusted per review to ensure the annual turnover budget remains unchanged.
* Risk model data - The most recent available risk model data will be used to determine the optimized portfolio.
* Relaxation steps order - The turnover constraint and minimum weight constraint (paring constraint) will be relaxed in alternating steps.

All other aspects of MSCI Momentum Indexes methodology and MSCI Minimum Volatility Indexes methodology will remain unchanged.

MSCI will implement these enhancements for the MSCI Momentum Indexes and MSCI Minimum Volatility Indexes starting from the August 2025 Index Review.

MSCI will send a separate communication to relevant clients in due course regarding the potential implementation of these changes in the custom indexes.

This announcement aims to provide transparency and offer sufficient lead time prior to implementation of the changes, in line with market participants' feedback. MSCI will make available the updated methodology books of the MSCI Momentum Indexes and MSCI Minimum Volatility Indexes prior to the implementation of the aforementioned enhancements.

We value your feedback and questions. If you would like to speak to a member of our team about any of the items in this communication, please submit a support ticket via the MSCI Online Case Management Portal https://msci.force.com/answers/s/contactsupport.

Alternatively, visit Contact Us https://www.msci.com/contact-us for other means to contact MSCI.

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

                                     End of announcement.
                                     Further announcements may occur as needed.