Announcement for February 16, 2021 at 10:00 PM GMT

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

CONCLUSIONS FROM THE CONSULTATION ON THE MSCI COLCAP INDEX

MSCI Inc. (NYSE: MSCI), a leading provider of critical decision support tools and services for the global investment community, and Bolsa de Valores de Colombia (bvc), the leading operator of the Colombian capital market infrastructure and the Colombian Securities Exchange, announced today the conclusions from the consultation on the proposed MSCI COLCAP Index methodology and transition.

The MSCI COLCAP Index will replace the existing bvc COLCAP Index based on the methodology proposal outlined in the consultation document. The transition will be implemented in one step, coinciding with the MSCI May 2021 Semi-Annual Index Review. Once effective, the index will have a target count of 25 securities and 20 issuers (23 / 18 respectively at the quarterly index reviews) and the constituents will not be subjected to any issuer level capping. MSCI COLCAP index will align with the MSCI framework for index construction, free float calculation, rebalancing calendar, and corporate events maintenance.

The consultation included engagement with a wide range of market participants including but not restricted to asset managers, asset owners, broker-dealers, and other financial institutions. While the majority of market participants who participated in the consultation welcomed the transition to the MSCI index construction and maintenance framework, some participants highlighted the importance of liquidity considerations for the index as it evolves. MSCI will closely monitor the index for such potential future enhancement, which may include review of its target count composition and/or applicable liquidity thresholds.  Such review of the methodology, if any, will be preceded by an appropriate feedback window and an advance notification in line with the MSCI consultation policy.

As a reminder, the scheduled bvc COLCAP index rebalancing in April 2021 will be cancelled and MSCI will launch provisional indexes in March 2021 to allow market participants to prepare for the transition scheduled in May 2021.

Additional information on the provisional indexes and the detailed methodology book will be published in due course.

MSCI Global Client Service
- EMEA Client Service + 44 20 7618.2222
- Americas Client Service +1 888 588 4567 (toll free)
- Asia Pacific Client Service + 852 2844 9333

Inquiries for Market Affiliates from Colombian Securities Exchange
- Daniel Rojas Dominguez daniel.rojas@bvc.com.co + (571) 313 9800 Ext 7048
- Informacion y Medios Electronicos informacion-medios@bvc.com.co

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

                                     End of announcement.
                                     Further announcements may occur as needed.