MSCI ACWI changes · Index Methodology Hub

MSCI ACWI: The updated section removes the duplicated/stray heading text "Segment Cutoffs" at the start of the paragraph and reformats line and bullet breaks. The methodology for deriving market size-segment cutoffs and segment company counts, including the 70%, 85%, and 99% coverage targets and Global Minimum Size Range logic, is unchanged. (Editorial)

2026-10-03T00:00:00Z

The updated section removes the duplicated/stray heading text "Segment Cutoffs" at the start of the paragraph and reformats line and bullet breaks. The methodology for deriving market size-segment cutoffs and segment company counts, including the 70%, 85%, and 99% coverage targets and Global Minimum Size Range logic, is unchanged. Previous: Segment Cutoffs The Market Size-Segment Cutoffs are derived by identifying a size cutoff which falls within, or as close as possible to, the Size and Coverage Target Area for that size-segment. MSCI notes the respective full market capitalization of the companies that provide the following free float-adjusted market capitalization coverage for the relevant size-segments: - Large Cap Index: 70% - Standard Index: 85% - Investable Market Index: 99% If the full market capitalization of the relevant company lies within the Global Minimum Size Range for the size-segment, then: - The full market capitalization of the relevant company defines the Market Size-Segment Cutoff for that size- segment at that point in time. - The number of companies with full market capitalization greater than or equal to the relevant company provides the Segment Number of Companies, which will be used to maintain the indexes over time. If it is not, then: - The number of companies is decreased until the full market capitalization of the smallest company in the size- segment is equal or higher than the lower bound of the Global Minimum Size Range for that size-segment. Or, - The number of companies is increased to include all companies with a full market capitalization higher than the upper bound of the Global Minimum Size Range for that size-segment. - The full market capitalization of the last company defines the Market Size-Segment Cutoff for that segment and the Segment Number of Companies is set to this company’s rank. Updated: The Market Size-Segment Cutoffs are derived by identifying a size cutoff which falls within, or as close as possible to, the Size and Coverage Target Area for that size-segment. MSCI notes the respective full market capitalization of the companies that provide the following free float-adjusted market capitalization coverage for the relevant size-segments: - Large Cap Index: 70% - Standard Index: 85% - Investable Market Index: 99% If the full market capitalization of the relevant company lies within the Global Minimum Size Range for the size-segment, then: - The full market capitalization of the relevant company defines the Market Size-Segment Cutoff for that sizesegment at that point in time. - The number of companies with full market capitalization greater than or equal to the relevant company provides the Segment Number of Companies, which will be used to maintain the indexes over time. If it is not, then: The number of companies is decreased until the full market capitalization of the smallest company in the size- segment is equal or higher than the lower bound of the Global Minimum Size Range for that size-segment. Or, - The number of companies is increased to include all companies with a full market capitalization higher than the upper bound of the Global Minimum Size Range for that size-segment. - The full market capitalization of the last company defines the Market Size-Segment Cutoff for that segment and the Segment Number of Companies is set to this company’s rank.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-03T00:00:00Z

Editorial change: wording only, no rule changed. Updated: The data, data feeds, databases, reports, text, graphs, charts, images, videos, recordings, models, metrics, analytics, indexes, ratings, scores, cases, estimates, assessments, software, websites, products, services and other information and materials contained herein or delivered in connection with this notice (collectively, the “Information”) are copyrighted, trade secrets (when not publicly available), trademarks and proprietary property of MSCI Inc. or its subsidiaries (collectively, “MSCI”), MSCI’s licensors, direct or indirect suppliers and authorized sources, and/or any third party contributing to the Information (collectively, with MSCI, the “Information Providers”). All rights in the Information are reserved by MSCI and its Information Providers and user(s) shall not, nor assist others to, challenge or assert any rights in the Information. Unless you contact MSCI and receive its prior written permission, you must NOT use the Information, directly or indirectly, in whole or in part (i) for commercial purposes, (ii) in a manner that competes with MSCI or impacts its ability to commercialize the Information or its services, (iii) to provide a service to a third party, (iv) to permit a third party to directly or indirectly access, use or resell the Information, (v) to redistribute or resell the Information in any form, (vi) to include the Information in any materials for public dissemination such as fund factsheets, market presentations, prospectuses, and investor information documents (e.g. KIIDs or KIDs), (vii) to create or as a component of any financial products, whether listed or traded over the counter or on a private placement basis or otherwise, (viii) to create any indexes, ratings or other data products, including in derivative works combined with other indexes or data or as a policy, product or performance benchmarks for active, passive or other financial products, (ix) to populate a database, or (x) to train, use as an input to, or otherwise in conn

MSCI ACWI: The updated document adds a "Contact Us" page with MSCI company background, regional telephone contact numbers, and a link/index-regulation reference for submitting formal index complaints. No index methodology rule, threshold, schedule, or calculation requirement is introduced. (Editorial)

2026-10-03T00:00:00Z

The updated document adds a "Contact Us" page with MSCI company background, regional telephone contact numbers, and a link/index-regulation reference for submitting formal index complaints. No index methodology rule, threshold, schedule, or calculation requirement is introduced. Updated: About MSCI AMERICA MSCI is a leading provider of critical decision United States + 1 888 588 4567 * support tools and services for the global Canada + 1 416 687 6270 investment community. With over 50 years of Brazil + 55 11 4040 7830 expertise in research, data and technology, we Mexico + 52 81 1253 4020 power better investment decisions by enabling clients to understand and analyze key drivers of risk and return and confidently build more EUROPE, MIDDLE EAST & AFRICA effective portfolios. We create industry-leading research-enhanced solutions that clients use to South Africa + 27 21 673 0103 gain insight into and improve transparency across Germany + 49 69 133 859 00 the investment process. Switzerland + 41 22 817 9777 United Kingdom + 44 20 7618 2222 Italy + 39 02 5849 0415 To learn more, please visit www.msci.com. France + 33 17 6769 810 msci.com/contact-us ASIA PACIFIC The process for submitting a formal index complaint China + 86 21 61326611 can be found on the index regulation page of MSCI’s Hong Kong + 852 2844 9333 website at: https://www.msci.com/index-regulation. India + 91 22 6784 9160 Malaysia 1800818185 * South Korea + 82 70 4769 4231 Singapore + 65 67011177 Australia + 612 9033 9333 Taiwan 008 0112 7513 * Thailand 0018 0015 6207 7181 * Japan + 81 3 4579 0333 * toll-free

MSCI ACWI: The change-log section was restructured so that the prior contact/legal disclaimer back matter no longer appears immediately after Appendix VIII. The updated change log adds a March 2026 modification entry covering FIF implementation rules, free-float rounding, and treatment of depository receipts whose underlying shares are not tradable. (Minor)

2026-10-03T00:00:00Z

The change-log section was restructured so that the prior contact/legal disclaimer back matter no longer appears immediately after Appendix VIII. The updated change log adds a March 2026 modification entry covering FIF implementation rules, free-float rounding, and treatment of depository receipts whose underlying shares are not tradable. Previous: Appendix VIII: Market Monitoring Framework and Potential Switch to a Light Rebalancing under Conditions of Market Stress Updated to clarify the methodology of weight increase due to foreign room Contact Us About MSCI AMERICA MSCI is a leading provider of critical decision United States + 1 888 588 4567 * support tools and services for the global Canada + 1 416 687 6270 investment community. With over 50 years of Brazil + 55 11 4040 7830 expertise in research, data and technology, we power better investment decisions by enabling Mexico + 52 81 1253 4020 clients to understand and analyze key drivers of risk and return and confidently build more EUROPE, MIDDLE EAST & AFRICA effective portfolios. We create industry-leading research-enhanced solutions that clients use to South Africa + 27 21 673 0103 gain insight into and improve transparency across Germany + 49 69 133 859 00 the investment process. Switzerland + 41 22 817 9777 United Kingdom + 44 20 7618 2222 Italy + 39 02 5849 0415 To learn more, please visit www.msci.com. France + 33 17 6769 810 msci.com/contact-us ASIA PACIFIC The process for submitting a formal index complaint China + 86 21 61326611 can be found on the index regulation page of MSCI’s Hong Kong + 852 2844 9333 website at: https://www.msci.com/index-regulation. India + 91 22 6784 9160 Malaysia 1800818185 * South Korea + 82 70 4769 4231 Singapore + 65 67011177 Australia + 612 9033 9333 Taiwan 008 0112 7513 * Thailand 0018 0015 6207 7181 * Japan + 81 3 4579 0333 * toll-free Notice and Disclaimer The data, data feeds, databases, reports, text, graphs, charts, images, videos, recordings, models, metrics, analytics, indexes, ratings, scores, cases, estimates, assessments, software, websites, products, services and other information and materials contained herein or delivered in connection with this notice (collectively, the “Information”) are copyrighted, trade secrets (when not publicly available), trademarks and proprietary property of MSCI Inc. or its s Updated: Appendix VIII: Market Monitoring Framework and Potential Switch to a Light Rebalancing under Conditions of Market Stress Updated to clarify the methodology of weight increase due to foreign room The following section has been modified as of March 2026: Section 3.1.7 Index Review of Changes in Foreign Inclusion Factors (FIFs) Updated the rules for implementation of FIF changes Appendix VI: Free Float Definition and Estimation Guidelines Updated the free float rounding rules Updated the Treatment of Depository Receipts where Underlying Shares are Not Available for Trading

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-03T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Then, the respective full market capitalizations of the companies that provide the following cumulative free float-adjusted market capitalization coverage of the DM Investable Equity Universe are chosen: - DM Large Cap Index: 70% coverage - DM Standard Index: 85% coverage - DM Investable Market Index: 99% coverage For Emerging Markets, the Global Minimum Size Reference is set at one-half the corresponding level of full market capitalization used for the Developed Markets for each size-segment. Updated: Then, the respective full market capitalizations of the companies that provide the following cumulative free float-adjusted market capitalization coverage of the DM Investable Equity Universe are chosen: - DM Large Cap Index: 70% coverage - DM Standard Index: 85% coverage DM Investable Market Index: 99% coverage - For Emerging Markets, the Global Minimum Size Reference is set at one-half the corresponding level of full market capitalization used for the Developed Markets for each size-segment.

MSCI ACWI: The standalone heading word "Methodology" was removed from the beginning of the appendix. The substantive historical description of the August 2023 Frontier Markets changes is unchanged; the only other edit is a line-break/formatting adjustment before the Baltic States ATVR sentence. (Editorial)

2026-10-03T00:00:00Z

The standalone heading word "Methodology" was removed from the beginning of the appendix. The substantive historical description of the August 2023 Frontier Markets changes is unchanged; the only other edit is a line-break/formatting adjustment before the Baltic States ATVR sentence. Previous: Methodology The MSCI Estonia, MSCI Lithuania and MSCI Latvia Indexes are then derived from the constituents of the MSCI Baltic States Indexes, As part of the August 2023 Index Review, the constituents of the MSCI Estonia and o MSCI Lithuania Indexes were considered as existing constituents of the MSCI Baltic States Index for rebalancing purpose, The MSCI Baltic States Indexes is maintained as a Very Low Liquidity market with a o minimum Annualized Traded Value Ratio (ATVR) requirement of 2.5%. Updated: The MSCI Estonia, MSCI Lithuania and MSCI Latvia Indexes are then derived from the constituents of the MSCI Baltic States Indexes, As part of the August 2023 Index Review, the constituents of the MSCI Estonia and o MSCI Lithuania Indexes were considered as existing constituents of the MSCI Baltic States Index for rebalancing purpose, o The MSCI Baltic States Indexes is maintained as a Very Low Liquidity market with a minimum Annualized Traded Value Ratio (ATVR) requirement of 2.5%.

MSCI ACWI: The updated text removes the duplicated heading fragment “compared to Parent Indexes” from the beginning of the paragraph. The substantive rule for derived indexes with less frequent review schedules is unchanged. (Editorial)

2026-10-03T00:00:00Z

The updated text removes the duplicated heading fragment “compared to Parent Indexes” from the beginning of the paragraph. The substantive rule for derived indexes with less frequent review schedules is unchanged. Previous: compared to Parent Indexes Indexes constructed from a parent index that follows GIMI methodology but apply an alternative weighting methodology and/or additional screening methodology (Derived Indexes), such as MSCI Factor, ESG or Capped Indexes, may have Index Review schedules which do not always coincide with the Index Review schedule of their respective parent index. Updated: Indexes constructed from a parent index that follows GIMI methodology but apply an alternative weighting methodology and/or additional screening methodology (Derived Indexes), such as MSCI Factor, ESG or Capped Indexes, may have Index Review schedules which do not always coincide with the Index Review schedule of their respective parent index.

MSCI ACWI: The update removes the standalone heading “Index Review” and reformats the opening historical description of SAIRs and QIRs into a continuous paragraph. The substantive description of the transition to Quarterly Comprehensive Index Reviews and the May 2023 full-review treatment of Foreign Inclusion Factors and Number of Shares are unchanged. (Editorial)

2026-10-03T00:00:00Z

The update removes the standalone heading “Index Review” and reformats the opening historical description of SAIRs and QIRs into a continuous paragraph. The substantive description of the transition to Quarterly Comprehensive Index Reviews and the May 2023 full-review treatment of Foreign Inclusion Factors and Number of Shares are unchanged. Previous: Index Review Prior to the February 2023 Index Review, the MSCI Global Investable Market Indexes were reviewed on a quarterly basis which involved: - Semi-Annual Index Reviews (SAIRs) in May and November and - Quarterly Index Reviews (QIRs) in February and August The objective of the SAIRs was to systematically reassess the various dimensions of the Equity Universe for all markets, involving a comprehensive review of the Size-Segment Indexes. Updated: Prior to the February 2023 Index Review, the MSCI Global Investable Market Indexes were reviewed on a quarterly basis which involved: - Semi-Annual Index Reviews (SAIRs) in May and November and - Quarterly Index Reviews (QIRs) in February and August The objective of the SAIRs was to systematically reassess the various dimensions of the Equity Universe for all markets, involving a comprehensive review of the Size-Segment Indexes.

MSCI ACWI: The update removes the introductory phrase "Review of the Small Cap Index" from the beginning of the section. No index rule, threshold, date, security treatment, or calculation procedure is changed. (Editorial)

2026-10-03T00:00:00Z

The update removes the introductory phrase "Review of the Small Cap Index" from the beginning of the section. No index rule, threshold, date, security treatment, or calculation procedure is changed. Previous: Review of the Small Cap Index The changes resulting from the May 2007 Annual Full Country Index Review of the existing Standard Indexes were announced on May 3, 2007, earlier than its normal announcement Updated: The changes resulting from the May 2007 Annual Full Country Index Review of the existing Standard Indexes were announced on May 3, 2007, earlier than its normal announcement

MSCI ACWI: The update removes the stray heading-like word "Period" from the opening sentence. No index review, transition-period treatment, eligibility, or maintenance rule is changed. (Editorial)

2026-10-03T00:00:00Z

The update removes the stray heading-like word "Period" from the opening sentence. No index review, transition-period treatment, eligibility, or maintenance rule is changed. Previous: Period During the transition period, from May 4, 2007 through May 30, 2008, MSCI was maintaining its Updated: During the transition period, from May 4, 2007 through May 30, 2008, MSCI was maintaining its

MSCI ACWI: The substantive text of the Ongoing Event Related Changes section is unchanged. The only update is renumbering a footnote from 66 to 67 for the MSCI China A Onshore Indexes note. (Editorial)

2026-10-03T00:00:00Z

The substantive text of the Ongoing Event Related Changes section is unchanged. The only update is renumbering a footnote from 66 to 67 for the MSCI China A Onshore Indexes note. Previous: 66 The MSCI China A Onshore Indexes were previously known as the MSCI China A Indexes prior to March 1, 2018. Please refer to Appendixes XII and XIV of the MSCI GIMI Methodology for more details on the MSCI China A Onshore Indexes. Updated: 67 The MSCI China A Onshore Indexes were previously known as the MSCI China A Indexes prior to March 1, 2018. Please refer to Appendixes XII and XIV of the MSCI GIMI Methodology for more details on the MSCI China A Onshore Indexes.

MSCI ACWI: The only change is to the footnote/reference marker attached to “MSCI China A Indexes,” from “66” to “63F67.” The substantive description of the indexes, constituents, investor groups, and calculated size segments is unchanged. (Editorial)

2026-10-03T00:00:00Z

The only change is to the footnote/reference marker attached to “MSCI China A Indexes,” from “66” to “63F67.” The substantive description of the indexes, constituents, investor groups, and calculated size segments is unchanged. Previous: The MSCI China A Indexes66 and the MSCI China A RMB Indexes are designed to represent the performance of the China A shares portion of the MSCI China Index. Updated: The MSCI China A Indexes63F67 and the MSCI China A RMB Indexes are designed to represent the performance of the China A shares portion of the MSCI China Index.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-03T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Other cases of early inclusion of China A shares (for example but not limited to spin off, merger, acquisition) will only be considered for inclusion in the MSCI China Indexes - if the event involves an existing constituent of the index, if the new security is assigned to the Large Cap or Mid Cap size-segment, and if the Stock Connect eligibility of the security is announced on or before the day of MSCI sending “Confirmed” corporate event announcement for the relevant event. Updated: Other cases of early inclusion of China A shares (for example but not limited to spin off, merger, acquisition) will only be considered for inclusion in the MSCI China Indexes - if the event involves an existing constituent of the index, - if the new security is assigned to the Large Cap or Mid Cap size-segment, - and if the Stock Connect eligibility of the security is announced on or before the day of MSCI sending “Confirmed” corporate event announcement for the relevant event.

MSCI ACWI: The substantive requirements for adding China A shares during a Light Rebalancing are unchanged: the 1.8x company market-capitalization threshold, 1.8x one-half FIF-adjusted market-capitalization threshold, and Stock Connect eligibility remain. The update only changes line wrapping and bullet formatting, including placing the trailing bullet after Stock Connect eligibility. (Editorial)

2026-10-03T00:00:00Z

The substantive requirements for adding China A shares during a Light Rebalancing are unchanged: the 1.8x company market-capitalization threshold, 1.8x one-half FIF-adjusted market-capitalization threshold, and Stock Connect eligibility remain. The update only changes line wrapping and bullet formatting, including placing the trailing bullet after Stock Connect eligibility. Previous: During a Light Rebalancing, China A shares that are non-current constituents of the MSCI China Index must meet the following requirements to be added to the MSCI China Index: - 1.8x the Interim Market Size-Segment Cutoff in terms of company full market capitalization - 1.8x one-half times the Interim Market Size-Segment Cutoff in terms of security FIF- adjusted market capitalization - Stock Connect eligibility Updated: During a Light Rebalancing, China A shares that are non-current constituents of the MSCI China Index must meet the following requirements to be added to the MSCI China Index: - 1.8x the Interim Market Size-Segment Cutoff in terms of company full market capitalization - 1.8x one-half times the Interim Market Size-Segment Cutoff in terms of security FIFadjusted market capitalization Stock Connect eligibility -

MSCI ACWI: The passage on China A-share final size-segment investability requirements was only reformatted: the bullet structure and paragraph breaks changed, but the stated thresholds, Stock Connect eligibility conditions, and treatment of Small Cap shares remain the same. No effective date is stated. (Editorial)

2026-10-03T00:00:00Z

The passage on China A-share final size-segment investability requirements was only reformatted: the bullet structure and paragraph breaks changed, but the stated thresholds, Stock Connect eligibility conditions, and treatment of Small Cap shares remain the same. No effective date is stated. Previous: More specifically, during Index Reviews, China A shares that are non-current constituents of the MSCI China Index and assigned to the Large Cap or Mid Cap Size-Segments must meet the following requirements to be added to the MSCI China Index: - 1.0x the Standard Cutoff in terms of company full market capitalization - 0.5x the Standard Cutoff in terms of security FIF-adjusted market capitalization Securities with FIF below 0.15 must meet 1.8x 0.5x the Standard Cutoff in terms of o Security FIF-adjusted Market Capitalization - Stock Connect eligibility China A shares assigned to Small Cap Size-Segment will not be added to the MSCI China Indexes. Updated: More specifically, during Index Reviews, China A shares that are non-current constituents of the MSCI China Index and assigned to the Large Cap or Mid Cap Size-Segments must meet the following requirements to be added to the MSCI China Index: 1.0x the Standard Cutoff in terms of company full market capitalization - - 0.5x the Standard Cutoff in terms of security FIF-adjusted market capitalization o Securities with FIF below 0.15 must meet 1.8x 0.5x the Standard Cutoff in terms of Security FIF-adjusted Market Capitalization - Stock Connect eligibility China A shares assigned to Small Cap Size-Segment will not be added to the MSCI China Indexes.

MSCI ACWI: The updated section makes no substantive change to DM/EM minimum liquidity requirements, China suspension rules, listing priority, the USD 10,000 price screen, or ATVR/FOT adjustment practices. The visible edits are footnote/link marker artifacts and reformatting of the existing footnote 11 bullet text. (Editorial)

2026-10-03T00:00:00Z

The updated section makes no substantive change to DM/EM minimum liquidity requirements, China suspension rules, listing priority, the USD 10,000 price screen, or ATVR/FOT adjustment practices. The visible edits are footnote/link marker artifacts and reformatting of the existing footnote 11 bullet text. Previous: In addition to the ATVR and Frequency of Trading requirements, securities in the MSCI China Equity Universe will not be eligible for inclusion in the Market Investable Equity Universe if the securities: Are suspended on the Price Cutoff Date (as defined in section 3.1.9) of the Index Review Have been suspended for 50 consecutive business days or more in the past 12 months6 Only one listing per security may be included in the Market Investable Equity Universe. In instances when a security has two or more eligible listings that meet the above liquidity requirements, then the following priority rules are used to determine which listing will be used for potential inclusion of the security in the Market Investable Equity Universe: Local listing7 Foreign listing in the same geographical region8 Foreign listing in a different geographical region9. 11 Notes on ATVR calculation: - Trading volumes and prices for liquidity computation will only be captured from eligible exchange, including USA and Canada. In general, MSCI uses free float-adjusted security market capitalization after the application of any relevant adjustment factors (e.g. adjustment factors applied due to low foreign room, Liquidity Adjustment Factors). ATVR values used in the regular Index Reviews as well as the relevant thresholds are not rounded. - In some cases of FIF changes due to significant FIF corrections, regulatory changes in Foreign Ownership Limits or methodology changes, MSCI may adjust ATVR values by applying the updated FIF during the relevant ATVR calculation period. Updated: In addition to the ATVR and Frequency of Trading requirements, securities in the MSCI China Equity Universe will not be eligible for inclusion in the Market Investable Equity Universe if the securities: Are suspended on the Price Cutoff Date (as defined in section 3.1.9) of the Index Review Have been suspended for 50 consecutive business days or more in the past 12 months 5F6 Only one listing per security may be included in the Market Investable Equity Universe. In instances when a security has two or more eligible listings that meet the above liquidity requirements, then the following priority rules are used to determine which listing will be used for potential inclusion of the security in the Market Investable Equity Universe: Local listing6F7 Foreign listing in the same geographical region 7F8 Foreign listing in a different geographical region 8F9. 11 Notes on ATVR calculation: Trading volumes and prices for liquidity computation will only be captured from eligible exchange, including USA and Canada. In general, MSCI uses free float-adjusted security market capitalization after the application of any relevant adjustment factors (e.g. adjustment factors applied due to low foreign room, Liquidity Adjustment Factors). - ATVR values used in the regular Index Reviews as well as the relevant thresholds are not rounded. In some cases of FIF changes due to significant FIF corrections, regulatory changes in Foreign Ownership Limits or methodology changes, MSCI may adjust ATVR values by applying the updated FIF during the relevant ATVR calculation period.

MSCI ACWI: The substantive wording of the market size-segment cutoff and allocation rule is unchanged. The update removes the stray heading word "Segments" from the opening paragraph and renumbers footnote 65 as footnote 66; the section title also appears with a spacing change in "Size- Segments." (Editorial)

2026-10-03T00:00:00Z

The substantive wording of the market size-segment cutoff and allocation rule is unchanged. The update removes the stray heading word "Segments" from the opening paragraph and renumbers footnote 65 as footnote 66; the section title also appears with a spacing change in "Size- Segments." Previous: Segments The Market Size-Segment Cutoffs and the Size-Segment allocation of companies are based on the integrated MSCI China Investable Equity Universe. 65 As of each day from the effective date of the Index Review one year prior to the price cutoff date of the current Index Review (for example: a non-Index constituent suspended for 50 days as of any day from June 1, 2017, the effective date of the May 2017 Index Review, to April 23, 2018, the price cutoff date of the May 2018 Index Review, would not have been eligible for the Investable Market Universe of the May 2018 Index Review) Updated: The Market Size-Segment Cutoffs and the Size-Segment allocation of companies are based on the integrated MSCI China Investable Equity Universe. 66 As of each day from the effective date of the Index Review one year prior to the price cutoff date of the current Index Review (for example: a non-Index constituent suspended for 50 days as of any day from June 1, 2017, the effective date of the May 2017 Index Review, to April 23, 2018, the price cutoff date of the May 2018 Index Review, would not have been eligible for the Investable Market Universe of the May 2018 Index Review)

MSCI ACWI: The substantive suspension exclusion rules are unchanged: newly eligible securities are excluded if suspended on the Price Cutoff date or suspended for at least 50 consecutive days during the past 12 months. The update only reformats the bullet layout around the two conditions and changes the footnote marker from “65” to “62F66.” (Editorial)

2026-10-03T00:00:00Z

The substantive suspension exclusion rules are unchanged: newly eligible securities are excluded if suspended on the Price Cutoff date or suspended for at least 50 consecutive days during the past 12 months. The update only reformats the bullet layout around the two conditions and changes the footnote marker from “65” to “62F66.” Previous: In addition to the Investability Requirements described in section 2.2, MSCI will exclude newly eligible securities (securities that are not current constituents of the Investable Market Indexes) from the investable equity universe if the securities: - - Are suspended on the Price Cutoff date, or Have been suspended for at least 50 days consecutively in the past 12 months65 Companies and securities are evaluated based on the integrated MSCI China Equity Universe. Updated: In addition to the Investability Requirements described in section 2.2, MSCI will exclude newly eligible securities (securities that are not current constituents of the Investable Market Indexes) from the investable equity universe if the securities: Are suspended on the Price Cutoff date, or - - Have been suspended for at least 50 days consecutively in the past 12 months 62F66 Companies and securities are evaluated based on the integrated MSCI China Equity Universe.

MSCI ACWI: The CDR footnote marker was renumbered from 64 to 65. The substantive statement that CDRs are generally subject to the same requirements as China A shares, including Stock Connect eligibility, is unchanged. (Editorial)

2026-10-03T00:00:00Z

The CDR footnote marker was renumbered from 64 to 65. The substantive statement that CDRs are generally subject to the same requirements as China A shares, including Stock Connect eligibility, is unchanged. Previous: 64 CDRs are generally subject to the same requirements as China A shares, including Stock Connect eligibility further described in this section. Updated: 65 CDRs are generally subject to the same requirements as China A shares, including Stock Connect eligibility further described in this section.

MSCI ACWI: The substantive methodology language for the Integrated MSCI China Equity Universe is unchanged. The update only reflows diagram labels, removes spaces around hyphenated share-class terms, and changes the CDR footnote marker from 64 to 61F65. (Editorial)

2026-10-03T00:00:00Z

The substantive methodology language for the Integrated MSCI China Equity Universe is unchanged. The update only reflows diagram labels, removes spaces around hyphenated share-class terms, and changes the CDR footnote marker from 64 to 61F65. Previous: Integrated MSCI China Equity Universe -> A-shares, CDRs and B-shares listed in China China A Share component -> H-shares, Red-chips, P-chips listed in HK -> foreign listed companies MSCI China A MSCI China A Integrated MSCI China Investable MSCI China A International (exclude Mid and Small Cap China A shares) Inclusion Universe Stock Connect Screen on China A shares the integrated MSCI China Equity Universe comprised of A‐ shares, CDRs64 and B‐ shares listed in China, H‐ shares, Red‐ chips, and P‐ chips listed in Hong Kong and foreign listings Updated: -> A-shares, CDRs and B-shares listed in China China A Share component -> H-shares, Red-chips, P-chips listed in HK -> foreign listed companies MSCI China A MSCI China A Integrated MSCI China Investable MSCI China A (exclude Mid and Small Cap China A shares) International Inclusion Stock Connect Screen on China A shares Universe the integrated MSCI China Equity Universe comprised of A‐shares, CDRs61F65 and B‐shares listed in China, H‐shares, Red‐chips, and P‐chips listed in Hong Kong and foreign listings

MSCI ACWI: The comparison identifies an added outline section titled “INTEGRATED MSCI CHINA EQUITY UNIVERSE,” but the supplied updated text and unified diff contain no substantive wording or rules to evaluate. Because no rule text is provided, no index methodology change can be established. (Editorial)

2026-10-03T00:00:00Z

The comparison identifies an added outline section titled “INTEGRATED MSCI CHINA EQUITY UNIVERSE,” but the supplied updated text and unified diff contain no substantive wording or rules to evaluate. Because no rule text is provided, no index methodology change can be established.

MSCI ACWI: The only change is that footnote 63 was renumbered to footnote 64. The substantive wording of the section and footnote is unchanged. (Editorial)

2026-10-03T00:00:00Z

The only change is that footnote 63 was renumbered to footnote 64. The substantive wording of the section and footnote is unchanged. Previous: 63 The MSCI China Indexes in this section refers to the MSCI China Indexes included in the MSCI Emerging Markets Indexes. Updated: 64 The MSCI China Indexes in this section refers to the MSCI China Indexes included in the MSCI Emerging Markets Indexes.

MSCI ACWI: The update changes the footnote marker attached to the January 2020 section-update statement, separating “60F” from the year and changing the marker number. It does not alter any index maintenance rule. (Editorial)

2026-10-03T00:00:00Z

The update changes the footnote marker attached to the January 2020 section-update statement, separating “60F” from the year and changing the marker number. It does not alter any index maintenance rule. Previous: This section has been updated in January 202063. Updated: This section has been updated in January 2020 60F64.

MSCI ACWI: The China index offering table has been reformatted with check marks showing which share classes are represented in each index, while the surrounding methodology text is unchanged. Footnote/endnote callout numbers were renumbered from 59–62 to 60–63. (Editorial)

2026-10-03T00:00:00Z

The China index offering table has been reformatted with check marks showing which share classes are represented in each index, while the surrounding methodology text is unchanged. Footnote/endnote callout numbers were renumbered from 59–62 to 60–63. Previous: Share Class Domestic MSCI China Indexes P Foreign Connect Index Free Float B Shares H Shares Red Chips Size- Chips Listings A Shares CDR* eligible Listing Inclusion Inclusion Segment only Factor Factor Integrated China Equity Universe MSCI China All Shares Index L/M/S Onshore FIF MSCI China A International Index L/M/S Onshore FIF MSCI China Indexes L/M Connect 20% FIF MSCI China A Inclusion Index L/M Connect FIF MSCI China A Inclusion RMB Index L/M Onshore FIF MSCI China A Index L/M Connect FIF MSCI China A RMB Index L/M Onshore FIF Domestic China A Shares Equity Universe MSCI China A Onshore Index L/M/S Onshore DIF * CDRs are generally subject to the same requirements as China A shares, including Stock Connect eligibility further described in Appendix on Index Maintenance of the MSCI China Indexes. For more details on the MSCI China All Shares and MSCI China A International Indexes, please refer to the MSCI China All Shares Indexes Methodology59. 59 Available on https://www.msci.com/index-methodology Following the inclusion of Mid Cap China A shares in the MSCI Emerging Markets Index in the November 2019 Index Review, the MSCI China A Indexes60 represent the performance of the China A shares portion of the MSCI China Index. The MSCI China A Inclusion Indexes61 represent the China A share portion of the MSCI China Index and are identical to the MSCI China A Indexes following the inclusion of Mid Cap China A shares in the MSCI Emerging Markets Index. In addition, MSCI will also continue to calculate the MSCI China A Onshore Indexes 62 which are based on the Domestic Inclusion Factor (DIF) that is not subject to FOL and constructed only on the basis of the China A Equity Universe. 60 Please refer to Appendix XVII for more details. 61 Please refer to Appendix XVI for more details. 62 Please refer to Appendix XII for more details on the MSCI China A Onshore Indexes. Updated: Share Class Domestic MSCI China Indexes P Connect Index Free Float Foreign B Shares H Shares Red Chips Size- Chips Listings A Shares CDR* eligible Listing Inclusion Inclusion Segment only Factor Factor Integrated China Equity Universe ✓ ✓ ✓ ✓ ✓ ✓ ✓ MSCI China All Shares Index L/M/S Onshore FIF ✓ MSCI China A International Index L/M/S Onshore FIF ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ MSCI China Indexes L/M Connect 20% FIF ✓ ✓ MSCI China A Inclusion Index L/M Connect FIF ✓ ✓ MSCI China A Inclusion RMB Index L/M Onshore FIF MSCI China A Index ✓ ✓ L/M Connect FIF ✓ ✓ MSCI China A RMB Index L/M Onshore FIF Domestic China A Shares Equity Universe ✓ MSCI China A Onshore Index L/M/S Onshore DIF * CDRs are generally subject to the same requirements as China A shares, including Stock Connect eligibility further described in Appendix on Index Maintenance of the MSCI China Indexes. For more details on the MSCI China All Shares and MSCI China A International Indexes, please refer to the MSCI China All Shares Indexes Methodology56F60. 60 Available on https://www.msci.com/index-methodology Following the inclusion of Mid Cap China A shares in the MSCI Emerging Markets Index in the November 2019 Index Review, the MSCI China A Indexes57F61 represent the performance of the China A shares portion of the MSCI China Index. The MSCI China A Inclusion Indexes58F62 represent the China A share portion of the MSCI China Index and are identical to the MSCI China A Indexes following the inclusion of Mid Cap China A shares in the MSCI Emerging Markets Index. In addition, MSCI will also continue to calculate the MSCI China A Onshore Indexes59F63 which are based on the Domestic Inclusion Factor (DIF) that is not subject to FOL and constructed only on the basis of the China A Equity Universe. 61 Please refer to Appendix XVII for more details. 62 Please refer to Appendix XVI for more details. 63 Please refer to Appendix XII for more details on the MSCI China A Onshore Indexes.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-03T00:00:00Z

Editorial change: wording only, no rule changed. Previous: 56 For the MSCI Saudi Arabia Domestic Index, the DIF is calculated from the perspective of a GCC regional investor. 57 The domestic China Index is known the MSCI China A Onshore Index. 58 The domestic Australia and Korea Indexes are known as the MSCI Australian Shares Indexes and the MSCI Korean Shares Indexes respectively. Updated: 57 For the MSCI Saudi Arabia Domestic Index, the DIF is calculated from the perspective of a GCC regional investor. 58 The domestic China Index is known the MSCI China A Onshore Index. 59 The domestic Australia and Korea Indexes are known as the MSCI Australian Shares Indexes and the MSCI Korean Shares Indexes respectively.

MSCI ACWI: The substantive description of MSCI Domestic Indexes, including the listed available countries and regions, is unchanged. The update only renumbers the footnote references attached to “domestic investors,” “China,” and “Australia.” (Editorial)

2026-10-03T00:00:00Z

The substantive description of MSCI Domestic Indexes, including the listed available countries and regions, is unchanged. The update only renumbers the footnote references attached to “domestic investors,” “China,” and “Australia.” Previous: MSCI defines the free float of a security as the proportion of tradable shares outstanding that are deemed to be available for purchase in the public equity markets by domestic investors56. Currently, MSCI Domestic Indexes based on the MSCI Global Investable Market Indexes Methodology are available for China57, India, GCC Countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates), Canada, Korea and Australia58. Updated: MSCI defines the free float of a security as the proportion of tradable shares outstanding that are deemed to be available for purchase in the public equity markets by domestic investors57. Currently, MSCI Domestic Indexes based on the MSCI Global Investable Market Indexes Methodology are available for China54F58, India, GCC Countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates), Canada, Korea and Australia55F59.

MSCI ACWI: The substantive minimum-size rule, thresholds, example values, and February 2026 requirements are unchanged. The update only alters a footnote marker formatting artifact and reformats/reorders country labels in the illustrative table without changing its data or meaning. (Editorial)

2026-10-03T00:00:00Z

The substantive minimum-size rule, thresholds, example values, and February 2026 requirements are unchanged. The update only alters a footnote marker formatting artifact and reformats/reorders country labels in the illustrative table without changing its data or meaning. Previous: First, the companies in the DM Equity Universe are sorted in descending order of full market capitalization and the cumulative coverage of the free float-adjusted market capitalization5 of the DM Equity Universe is calculated at each company. Cumulative Free Free Float- Float-Adjusted Full Market Adjusted Market Market Capitalization Capitalization Capitalization Rank of Company Country (USD millions) (USD millions) Coverage Company A 400,000 400,000 1.29% 1 a B a 360,000 360,000 2.45% 2 C a 275,000 250,000 3.26% 3 AD 250,000 250,000 4.06% 4 a AE b 240,000 190,000 4.68% 5 AF c 235,000 95,000 4.98% 6 GG a 230,000 230,000 5.73% 7 AH 225,000 225,000 6.45% 8 a AL d 210,000 210,000 7.13% 9 … … … … … … … … … … .. .. .. .. .. WWW f 1,000 250 98.99% 8,007 XYZ 150 130 99.00% 8,008 g YYY f 125 125 99.01% 8,009 ZZZZ f 100 100 99.01% 8,010 … … … … … Total 31,000,000 100.00% Updated: First, the companies in the DM Equity Universe are sorted in descending order of full market capitalization and the cumulative coverage of the free float-adjusted market capitalization4F5 of the DM Equity Universe is calculated at each company. Cumulative Free Free Float- Float-Adjusted Full Market Adjusted Market Market Capitalization Capitalization Capitalization Rank of Company Country (USD millions) (USD millions) Coverage Company A a 400,000 400,000 1.29% 1 B a 360,000 360,000 2.45% 2 C a 275,000 250,000 3.26% 3 AD a 250,000 250,000 4.06% 4 AE b 240,000 190,000 4.68% 5 AF c 235,000 95,000 4.98% 6 GG a 230,000 230,000 5.73% 7 AH a 225,000 225,000 6.45% 8 AL d 210,000 210,000 7.13% 9 … … … … … … … … … … .. .. .. .. .. WWW f 1,000 250 98.99% 8,007 XYZ g 150 130 99.00% 8,008 YYY f 125 125 99.01% 8,009 ZZZZ f 100 100 99.01% 8,010 … … … … … Total 31,000,000 100.00%

MSCI ACWI: The only change is a typographical spacing correction in the cross-reference label, changing "Sub‐ section" to "Sub‐section." The rule for simultaneous inclusion of significant early-added IPO depositary receipts in MSCI DR Indexes is unchanged. (Editorial)

2026-10-03T00:00:00Z

The only change is a typographical spacing correction in the cross-reference label, changing "Sub‐ section" to "Sub‐section." The rule for simultaneous inclusion of significant early-added IPO depositary receipts in MSCI DR Indexes is unchanged. Previous: DRs of IPOs which are significant in size and included early in the MSCI Global Standard Indexes according to Sub‐ section 3.2.7, will be simultaneously included in the MSCI DR Indexes. Updated: DRs of IPOs which are significant in size and included early in the MSCI Global Standard Indexes according to Sub‐section 3.2.7, will be simultaneously included in the MSCI DR Indexes.

MSCI ACWI: The updated section removes the stray heading word "Indexes" from the start of the first sentence. The rules for DR number of shares and foreign inclusion factors are unchanged. (Editorial)

2026-10-03T00:00:00Z

The updated section removes the stray heading word "Indexes" from the start of the first sentence. The rules for DR number of shares and foreign inclusion factors are unchanged. Previous: Indexes The NOS of the DRs in the MSCI DR Indexes is based on the maximum DRs that could be issued by dividing the number of shares of the Parent Index by the DR ratio (ratio between the common shares and the DRs). Updated: The NOS of the DRs in the MSCI DR Indexes is based on the maximum DRs that could be issued by dividing the number of shares of the Parent Index by the DR ratio (ratio between the common shares and the DRs).

MSCI ACWI: The updated text removes the duplicated heading fragment "and Ranges" from the beginning of the opening sentence. The substantive statement—that the Global Minimum Size Reference and ranges are calculated daily using the stated principles—is unchanged. (Editorial)

2026-10-03T00:00:00Z

The updated text removes the duplicated heading fragment "and Ranges" from the beginning of the opening sentence. The substantive statement—that the Global Minimum Size Reference and ranges are calculated daily using the stated principles—is unchanged. Previous: and Ranges As markets evolve due to events and price performance, the Global Minimum Size Reference and ranges are calculated on a daily basis using the following general principles. Updated: As markets evolve due to events and price performance, the Global Minimum Size Reference and ranges are calculated on a daily basis using the following general principles.

MSCI ACWI: The policy text itself is unchanged. Only footnote numbering was incremented from 53–55 to 54–56. (Editorial)

2026-10-03T00:00:00Z

The policy text itself is unchanged. Only footnote numbering was incremented from 53–55 to 54–56. Previous: 53 The suspension status is taken as per the close of the regular trading time of the relevant stock exchange. 54 In cases where the Index Review effective date falls on a Tuesday, the postponement for suspended securities in indexes calculated from Sunday to Thursday will be reviewed on Sunday. 55 Non-current IMI constituent Updated: 54 The suspension status is taken as per the close of the regular trading time of the relevant stock exchange. 55 In cases where the Index Review effective date falls on a Tuesday, the postponement for suspended securities in indexes calculated from Sunday to Thursday will be reviewed on Sunday. 56 Non-current IMI constituent

MSCI ACWI: The substantive policy language is unchanged. The update removes a stray heading fragment ("Reviews") from the opening sentence and renumbers footnote references; it does not alter the trading-suspension postponement, cancellation, resumption, or Chinese securities rules. (Editorial)

2026-10-03T00:00:00Z

The substantive policy language is unchanged. The update removes a stray heading fragment ("Reviews") from the opening sentence and renumbers footnote references; it does not alter the trading-suspension postponement, cancellation, resumption, or Chinese securities rules. Previous: Reviews MSCI will postpone the implementation of Index Review changes for IMI constituents, as well as Micro Cap constituents, when the affected securities are suspended53 on the day prior to the effective implementation date54 of the Index Review. Additions of Chinese securities to all MSCI Indexes55 (including pro forma MSCI China Indexes, MSCI China A Inclusion Indexes, MSCI China All Shares Indexes and MSCI China A Onshore Indexes) will be cancelled instead of postponed if the securities are suspended on the day prior to the effective implementation of the Index Review. Updated: MSCI will postpone the implementation of Index Review changes for IMI constituents, as well as Micro Cap constituents, when the affected securities are suspended51F54 on the day prior to the effective implementation date52F55 of the Index Review. Additions of Chinese securities to all MSCI Indexes53F56 (including pro forma MSCI China Indexes, MSCI China A Inclusion Indexes, MSCI China All Shares Indexes and MSCI China A Onshore Indexes) will be cancelled instead of postponed if the securities are suspended on the day prior to the effective implementation of the Index Review.

MSCI ACWI: The updated excerpt removes the heading fragment "Market Closures during Index Reviews" from Appendix IX. No substantive index rule, threshold, trigger, or methodology is present in the supplied changed text. (Editorial)

2026-10-03T00:00:00Z

The updated excerpt removes the heading fragment "Market Closures during Index Reviews" from Appendix IX. No substantive index rule, threshold, trigger, or methodology is present in the supplied changed text. Previous: Market Closures during Index Reviews

MSCI ACWI: The update removes the stray opening word "Rebalancings" and renumbers the listing-priority footnotes from 50–52 to 51–53. The substantive liquidity retention, listing priority, and Liquidity Adjustment Factor rules are unchanged. (Editorial)

2026-10-03T00:00:00Z

The update removes the stray opening word "Rebalancings" and renumbers the listing-priority footnotes from 50–52 to 51–53. The substantive liquidity retention, listing priority, and Liquidity Adjustment Factor rules are unchanged. Previous: Rebalancings Existing constituents of the Investable Market Indexes can remain in the Investable Market Indexes only if: The 3-month ATVR and Frequency of Trading are at least 5% and 80% respectively for Developed Markets The 3-month ATVR and Frequency of Trading are at least 5% and 70% respectively for Emerging Markets If the listing used for an existing constituent no longer meets the above liquidity requirements, other eligible listings that do meet such liquidity requirements will be used to represent the security in the Market Investable Equity Universe. If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing50 Foreign listing in the same geographical region51 Foreign listing in a different geographical region52 If an existing constituent of a Standard Index in Emerging Markets fails to meet the liquidity requirements, but has a weight of more than 10% in the respective country index and its free float adjusted market capitalization is above 0.5 times the Global Minimum Size Reference for Emerging Markets, then such constituent will remain in the index. 50 If the security has two or more local listings, then the listing with the highest 3-month ATVR would be used. 51 MSCI classifies markets into three main geographical regions: EMEA, Asia Pacific and Americas. 52 If the security has two or more foreign listings in a different geographical region, then the listing with the highest 3-month ATVR would be used. Updated: Existing constituents of the Investable Market Indexes can remain in the Investable Market Indexes only if: The 3-month ATVR and Frequency of Trading are at least 5% and 80% respectively for Developed Markets The 3-month ATVR and Frequency of Trading are at least 5% and 70% respectively for Emerging Markets If the listing used for an existing constituent no longer meets the above liquidity requirements, other eligible listings that do meet such liquidity requirements will be used to represent the security in the Market Investable Equity Universe. If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing48F51 Foreign listing in the same geographical region 49F52 Foreign listing in a different geographical region 50F53 If an existing constituent of a Standard Index in Emerging Markets fails to meet the liquidity requirements, but has a weight of more than 10% in the respective country index and its free float adjusted market capitalization is above 0.5 times the Global Minimum Size Reference for Emerging Markets, then such constituent will remain in the index. 51 If the security has two or more local listings, then the listing with the highest 3-month ATVR would be used. 52 MSCI classifies markets into three main geographical regions: EMEA, Asia Pacific and Americas. 53 If the security has two or more foreign listings in a different geographical region, then the listing with the highest 3-month ATVR would be used.

MSCI ACWI: The updated section removes the duplicated introductory phrase “Light Rebalancings” and renumbers the FOL footnote from 49 to 50. The eligibility, capitalization, IPO timing, FOL, and when-issued trading rules are unchanged. (Editorial)

2026-10-03T00:00:00Z

The updated section removes the duplicated introductory phrase “Light Rebalancings” and renumbers the FOL footnote from 49 to 50. The eligibility, capitalization, IPO timing, FOL, and when-issued trading rules are unchanged. Previous: Light Rebalancings Securities that are currently not constituents of the Investable Market Indexes and that meet the investability screens described in Sub-section 2.2 (with the exception of the Minimum Length of Trading Requirement), including large IPOs that were not added earlier, and in addition meet the requirements listed below, are added to the Standard Index: A full market capitalization that exceeds 1.8 times the Interim Market Size-Segment Cutoff for the Standard Size-Segment A free float-adjusted market capitalization that exceeds 1.8 times one-half the Interim Market Size-Segment Cutoff for the Standard Size-Segment Securities that exhibit extreme price increase are not eligible for inclusion into the Standard Indexes. 49 Applicable only for securities still subject to FOLs. Updated: Securities that are currently not constituents of the Investable Market Indexes and that meet the investability screens described in Sub-section 2.2 (with the exception of the Minimum Length of Trading Requirement), including large IPOs that were not added earlier, and in addition meet the requirements listed below, are added to the Standard Index: A full market capitalization that exceeds 1.8 times the Interim Market Size-Segment Cutoff for the Standard Size-Segment A free float-adjusted market capitalization that exceeds 1.8 times one-half the Interim Market Size-Segment Cutoff for the Standard Size-Segment Securities that exhibit extreme price increase are not eligible for inclusion into the Standard Indexes. 50 Applicable only for securities still subject to FOLs.

MSCI ACWI: The updated section preserves the foreign-room adjustment rules and thresholds. The only differences are footnote/cross-reference marker changes and line wrapping in the adjustment-factor table; no eligibility, migration, weighting, monitoring, or notice rule changed. (Editorial)

2026-10-03T00:00:00Z

The updated section preserves the foreign-room adjustment rules and thresholds. The only differences are footnote/cross-reference marker changes and line wrapping in the adjustment-factor table; no eligibility, migration, weighting, monitoring, or notice rule changed. Previous: 0.25 0 Current adjustment factor = 0.5 1 0.25 0 If the foreign room of an existing constituent decreases below 3.75%, then the adjustment factor equals 048. 48 Based on information available from the country regulatory authority, the adjustment factor equals 0 for securities where further purchases are restricted due to foreign ownership restriction. During the Index Review, for any existing IMI constituents whose weight is decreased as a result of a change in the adjustment factor due to low foreign room, MSCI will continue to monitor any potential increased foreign room due to an increase in FOL49 until five business days before the effective date of that Index Review. Updated: 0.25 0 Current adjustment factor = 0.5 1 0.25 0 If the foreign room of an existing constituent decreases below 3.75%, then the adjustment factor equals 046F49. 49 Based on information available from the country regulatory authority, the adjustment factor equals 0 for securities where further purchases are restricted due to foreign ownership restriction. During the Index Review, for any existing IMI constituents whose weight is decreased as a result of a change in the adjustment factor due to low foreign room, MSCI will continue to monitor any potential increased foreign room due to an increase in FOL 47F50 until five business days before the effective date of that Index Review.

MSCI ACWI: The substantive communication-date policy is unchanged. The two footnotes following the section were renumbered from 46–47 to 47–48, with no change to their text. (Editorial)

2026-10-03T00:00:00Z

The substantive communication-date policy is unchanged. The two footnotes following the section were renumbered from 46–47 to 47–48, with no change to their text. Previous: 46 MSCI uses the closing bid/ask as provided by its data source. If these are unavailable, then the most recent bid/ask prices are used instead. 47 The 10-day standard deviation of daily returns is annualized by multiplying it by the square root of 260. Updated: 47 MSCI uses the closing bid/ask as provided by its data source. If these are unavailable, then the most recent bid/ask prices are used instead. 48 The 10-day standard deviation of daily returns is annualized by multiplying it by the square root of 260.

MSCI ACWI: The substantive eligibility language is unchanged. The update only alters the formatting/placement of footnote markers for REITs, Canada income trusts, and the exclusion of mutual funds/ETFs/equity derivatives/most investment trusts. (Editorial)

2026-10-03T00:00:00Z

The substantive eligibility language is unchanged. The update only alters the formatting/placement of footnote markers for REITs, Canada income trusts, and the exclusion of mutual funds/ETFs/equity derivatives/most investment trusts. Previous: All listed equity securities, including Real Estate Investment Trusts (REITs)2 and certain income trusts listed in Canada 3 are eligible for inclusion in the Equity Universe. Conversely, mutual funds, ETFs, equity derivatives, and most investment trusts are not eligible for inclusion in the Equity Universe.4 Updated: All listed equity securities, including Real Estate Investment Trusts (REITs) 1F2 and certain income trusts listed in Canada2F3 are eligible for inclusion in the Equity Universe. Conversely, mutual funds, ETFs, equity derivatives, and most investment trusts are not eligible for inclusion in the Equity Universe. 3F4

MSCI ACWI: The market monitoring rules and thresholds are unchanged. The update only changes the presentation/line breaks and renumbers footnotes from 46–47 to 47–48. (Editorial)

2026-10-03T00:00:00Z

The market monitoring rules and thresholds are unchanged. The update only changes the presentation/line breaks and renumbers footnotes from 46–47 to 47–48. Previous: MSCI sets the last ten business days of the month prior to the announcement date of an Index Review as the “market monitoring period.” If within the “market monitoring period”, one of the following two conditions related to the Market Liquidity and Market Functioning pillars of the Market Monitoring Framework is met, a review by the relevant MSCI Index Committee(s) whether or not to switch to a “light rebalancing” would be triggered: - Market Liquidity, for any 3 days within the “market monitoring period” MSCI ACWI-weighted bid-ask spread, measured as index market capitalizationo weighted bid-ask spread ( [ask-bid] / ask )46, breaching 0.19% AND o MSCI ACWI volatility, measured as the annualized standard deviation47 of the daily o returns of the MSCI ACWI over the past 10 business days, breaching 0.55 - OR - Market Functioning o Unexpected full day or partial stock exchange closures impacting 20% of MSCI ACWI constituents cumulatively over the “market monitoring period” Updated: MSCI sets the last ten business days of the month prior to the announcement date of an Index Review as the “market monitoring period.” If within the “market monitoring period”, one of the following two conditions related to the Market Liquidity and Market Functioning pillars of the Market Monitoring Framework is met, a review by the relevant MSCI Index Committee(s) whether or not to switch to a “light rebalancing” would be triggered: Market Liquidity, for any 3 days within the “market monitoring period” - MSCI ACWI-weighted bid-ask spread, measured as index market capitalizationo weighted bid-ask spread ( [ask-bid] / ask )47, breaching 0.19% AND o MSCI ACWI volatility, measured as the annualized standard deviation48 of the daily o returns of the MSCI ACWI over the past 10 business days, breaching 0.55 - OR - Market Functioning Unexpected full day or partial stock exchange closures impacting 20% of MSCI o ACWI constituents cumulatively over the “market monitoring period”

MSCI ACWI: The updated excerpt removes the standalone heading text "Switch to a Light Rebalancing under Conditions of Market Stress." Based on the provided text, this is a heading-only deletion and no index methodology rule, threshold, schedule, or trigger is changed. (Editorial)

2026-10-03T00:00:00Z

The updated excerpt removes the standalone heading text "Switch to a Light Rebalancing under Conditions of Market Stress." Based on the provided text, this is a heading-only deletion and no index methodology rule, threshold, schedule, or trigger is changed. Previous: Switch to a Light Rebalancing under Conditions of Market Stress

MSCI ACWI: MSCI replaced the prior May 2024 FIF methodology for DRs whose underlying shares are not tradable. Beginning with the May 2026 Index Review, FIF is the lower of free-float methodology and the greater of adjusted 13F ownership or capital-raising-derived float; new additions apply it immediately, while existing constituents transition through a May 2026 midpoint adjustment and full application from November 2026 if transparency remains insufficient. (Minor)

2026-10-03T00:00:00Z

MSCI replaced the prior May 2024 FIF methodology for DRs whose underlying shares are not tradable. Beginning with the May 2026 Index Review, FIF is the lower of free-float methodology and the greater of adjusted 13F ownership or capital-raising-derived float; new additions apply it immediately, while existing constituents transition through a May 2026 midpoint adjustment and full application from November 2026 if transparency remains insufficient. Previous: Trading Starting from the May 2024 Index Review, MSCI will apply the below approach to calculate the Foreign Inclusion Factor (FIF) for Depository Receipts (DRs) where underlying shares are not available for trading. For additions to the MSCI Global Investable Market Indexes, including the MSCI ACWI IMI Index, the MSCI Frontier Markets IMI, the MSCI China All Shares IMI and relevant MSCI J-Series Indexes, the FIF will be calculated as the lower of: the FIF derived based on publicly disclosed capital raising activities at the time of listing and any subsequent offerings; or the FIF computed on the basis of the MSCI Free Float Data Methodology. For securities added to the indexes using the capital raising method, MSCI will continue to review such securities using the capital raising method in the subsequent Index Reviews. For existing constituents of the MSCI Global Investable Market Indexes, including the MSCI ACWI IMI Index, the MSCI Frontier Markets IMI, the MSCI China All Shares IMI and relevant MSCI J-Series Indexes, the FIF will be calculated as the lower of: the ratio of Depository Number of Shares (NOS)/Total NOS (wherever such data is available); or the FIF computed on the basis of the MSCI Free Float Data Methodology. Updated: Starting from the May 2026 Index Review, MSCI will apply the below approach to calculate the Foreign Inclusion Factor (FIF) for Depository Receipts (DRs) where underlying shares are not available for trading. FIF for such DRs will be calculated as the lower of46: (i) the higher of adjusted 13F ownership or float derived from capital raising activities at listing and any subsequent offerings; or (ii) the free float calculated in accordance with the current MSCI Free Float Data Methodology 46 For existing constituents the change to new methodology will be done in a phased manner starting May 2026 Index Review. As part of the May 2026 Index Review, where the current FIF exceeds the value determined on the basis of the new approach, MSCI will set the FIF at the midpoint between these two values. For new index additions, this new approach will be applied upon index inclusion starting from the May 2026 Index Review. MSCI will continue to monitor issuer disclosures and the availability of transparency regarding DRs in circulation. In the continued absence of enhanced transparency, starting from the November 2026 Index Review, MSCI will determine the FIF using the new approach for existing index constituents.

MSCI ACWI: The substantive NVDR rules are unchanged. The update only changes footnote/reference markers in the body text from "44" and "45" to "44F44" and "45F45," with no change to the 25% NVDR limit, market-capitalization treatment, FIF formulas, foreign-room review, or early-inclusion rules. (Editorial)

2026-10-03T00:00:00Z

The substantive NVDR rules are unchanged. The update only changes footnote/reference markers in the body text from "44" and "45" to "44F44" and "45F45," with no change to the 25% NVDR limit, market-capitalization treatment, FIF formulas, foreign-room review, or early-inclusion rules. Previous: However, there is a limit on the amount of NVDRs that may be issued for financial institutions44 (generally set at 25%). The company full market capitalization is calculated based on the price45 of the Local Line. Updated: However, there is a limit on the amount of NVDRs that may be issued for financial institutions 44F44 (generally set at 25%). The company full market capitalization is calculated based on the price45F45 of the Local Line.

MSCI ACWI: The updated section removes the extraneous heading/word fragment “Issues” at the beginning of the first sentence. No eligibility threshold, review treatment, timing, or other index rule changes. (Editorial)

2026-10-03T00:00:00Z

The updated section removes the extraneous heading/word fragment “Issues” at the beginning of the first sentence. No eligibility threshold, review treatment, timing, or other index rule changes. Previous: Issues Securities of companies included on the Hong Kong Securities and Futures Commission (SFC) high shareholding concentration notices are not eligible for inclusion in the MSCI GIMI. Updated: Securities of companies included on the Hong Kong Securities and Futures Commission (SFC) high shareholding concentration notices are not eligible for inclusion in the MSCI GIMI.

MSCI ACWI: The worked examples for free float-adjusted market capitalization were revised. The non-FOL example now uses rounded FIFs and adds Company C, while the FOL example is reduced from three companies to two, removes the foreign strategic shareholding calculation and the unmonitorable foreign-room footnote, and uses revised inputs and outputs. The governing formula remains unchanged. (Editorial)

2026-10-03T00:00:00Z

The worked examples for free float-adjusted market capitalization were revised. The non-FOL example now uses rounded FIFs and adds Company C, while the FOL example is reduced from three companies to two, removes the foreign strategic shareholding calculation and the unmonitorable foreign-room footnote, and uses revised inputs and outputs. The governing formula remains unchanged. Previous: Example: Calculating Free Float-Adjusted Market Capitalization: Securities Not Subject to FOLs Company A Company B Total number of shares outstanding 10,000,000 10,000,000 Number of shares classified as non-free float 4,300,000 8,760,000 Non-free float shareholding (%) 43.0% 87.6% Free float (%) 57.0% 12.4% Foreign Inclusion Factor (FIF) 0.60 0.12 Market price ($) 500 500 Full market capitalization ($ mm) 5,000 5,000 Free float-adjusted market capitalization ($ mm) 3,000 600 Example: Calculating Free Float-Adjusted Market Capitalization: Securities Subject to FOLs Company C Company D* Company E Total number of shares outstanding 10,000,000 10,000,000 10,000,000 All shares classified as non-free float 8,760,000 4,000,000 4,000,000 – those held by foreign investors as strategic 1,000,000 1,000,000 – Total non-free float shareholdings (%) 40.0 40.0 Free float (%) 12.4 60.0 60.0 Foreign ownership limit (%) 33.3 33.3 33.3 Foreign strategic shareholding (%) 10.0 10.0 0.0 Foreign ownership limit less the foreign strategic shareholding (%) 23.3 23.3 33.3 Foreign Inclusion Factor (FIF) 0.12 0.25 0.33 Market price ($) 500 500 500 Full market capitalization ($ mm) 5,000 5,000 5,000 Free float-adjusted market capitalization ($ mm) 600 1,250 1,650 *This example is applicable only to companies classified in countries for which foreign room cannot be monitored Updated: Example: Calculating Free Float-Adjusted Market Capitalization: Securities Not Subject to FOLs Company A Company B Company C Total number of shares outstanding 10,000,000 10,000,000 10,000,000 Number of shares classified as non-free float 4,300,000 8,760,000 9,641,000 Non-free float shareholding (%) 43.0% 87.6% 96.41% Free float (%) 57.0% 12.4% 3.59% Foreign Inclusion Factor (FIF) 0.575 0.125 0.036 Market price ($) 500 500 500 Full market capitalization ($ mm) 5,000 5,000 5,000 Free float-adjusted market capitalization ($ mm) 2,875 625 180 Example: Calculating Free Float-Adjusted Market Capitalization: Securities Subject to FOLs Company D Company E Total number of shares outstanding 10,000,000 10,000,000 All shares classified as non-free float 8,760,000 4,000,000 – those held by foreign investors as strategic 1,000,000 1,000,000 Total non-free float shareholdings (%) 43.0 Free float (%) 12.4 57 Rounded Free Float 0.125 0.575 Foreign ownership limit (%) 33.33 33.33 Foreign Inclusion Factor (FIF) 0.125 0.333 Market price ($) 500 500 Full market capitalization ($ mm) 5,000 5,000 Free float-adjusted market capitalization ($ mm) 625 1,665

MSCI ACWI: The update replaces the former two-band FIF rounding framework (above/below 15%, with 5% and 1% increments) with three free-float bands: above 25%, 5%-25%, and below 5%, rounded to 2.5%, 0.5%, and 0.1%, respectively. It applies corresponding rounding changes to FOL-affected securities and states that LIF-adjusted free float and adjusted FOL are rounded to the closest 0.1%. (Minor)

2026-10-03T00:00:00Z

The update replaces the former two-band FIF rounding framework (above/below 15%, with 5% and 1% increments) with three free-float bands: above 25%, 5%-25%, and below 5%, rounded to 2.5%, 0.5%, and 0.1%, respectively. It applies corresponding rounding changes to FOL-affected securities and states that LIF-adjusted free float and adjusted FOL are rounded to the closest 0.1%. Previous: Securities with Free Float Greater Than 15% and Not Subject to FOLs For securities with free float greater than 15%, the FIF is equal to the estimated free float, rounded up to the closest 5%. Securities with Free Float Less than 15% and Not Subject to FOLs For securities with free float less than 15%, the FIF is equal to the estimated free float, rounded to the closest 1%. Securities Subject to FOLs For securities subject to FOLs, the FIF is equal to the lesser of: Estimated free float available to foreign investors, - Rounded up to the closest 5%, if the free float is greater than 15%. - Rounded to the closest 1%, if the free float is less than 15%. FOL rounded to the closest 1%. Securities Affected by Other Foreign Investment Restrictions In the case where other foreign investment restrictions exist, which materially limit the ability of international investors to freely invest in a particular equity market, sector or security, a Limited Investability Factor (LIF) may be applied to insure that the investability objectives of the MSCI Indexes can be achieved. Therefore, where deemed necessary, a LIF will be determined and applied based on an extensive, case-by-case analysis 43. Free Float-Adjusted for Limited Investability = Free Float for Foreign Investors times the LIF Therefore, for securities subject to other foreign investment restrictions, the Foreign Inclusion Factor is equal to the lesser of: Estimated free float-adjusted for limited investability, - Rounded up to the closest 5%, if the free float-adjusted for limited investability is greater than 15%. - Rounded to the closest 1%, if the free float-adjusted for limited investability is less than 15%. FOL rounded to the closest 1%. Eligible Markets Country Name AUSTRALIA Developed Markets (DM) JAPAN CHINA INDIA INDONESIA KOREA PHILIPPINES Emerging Markets (EM) QATAR SAUDI ARABIA TAIWAN THAILAND* UNITED ARAB EMIRATES Updated: Securities with Free Float Greater Than 25% and Not Subject to FOLs For securities with free float greater than 25%, the FIF is equal to the estimated free float, rounded to the closest 2.5%. Securities with Free Float between 5% and 25% and Not Subject to FOLs For securities with free float between 5% and 25%, the FIF is equal to the estimated free float, rounded to the closest 0.5%. Securities with Free Float less Than 5% and Not Subject to FOLs For securities with free float less than 5%, the FIF is equal to the estimated free float, rounded to the closest 0.1%. Securities Subject to FOLs For securities subject to FOLs, the FIF is equal to the lesser of: Estimated free float available to foreign investors, - Rounded to the closest 2.5%, if the free float is greater than 25%. - Rounded to the closest 0.5%, if the free float between 5% and 25%. - Rounded to the closest 0.1%, if the free float is less than 5% FOL rounded to the closest 0.1%. Securities Affected by Other Foreign Investment Restrictions In the case where other foreign investment restrictions exist, which materially limit the ability of international investors to freely invest in a particular equity market, sector or security, a Limited Investability Factor (LIF) may be applied to ensure that the investability objectives of the MSCI Indexes can be achieved. Therefore, where deemed necessary, a LIF will be determined and applied based on an extensive, case-by-case analysis 43F43. Free Float-Adjusted for Limited Investability = Free Float for Foreign Investors times the LIF Therefore, for securities subject to other foreign investment restrictions, the Foreign Inclusion Factor is equal to the lesser of: Estimated free float-adjusted for limited investability rounded to the closest 0.1% FOL adjusted for limited investability rounded to the closest 0.1%. Eligible Markets Country Name AUSTRALIA Developed Markets (DM) JAPAN CHINA INDIA INDONESIA KOREA PHILIPPINES Emerging Markets (EM) QATAR SAUDI ARABIA TAIW

MSCI ACWI: The methodology for securities subject to foreign ownership limits has been simplified: foreign-investor free float is now the lesser of estimated free float and the unadjusted FOL. The prior adjustment that reduced FOL by foreign-held non-free-float stakes, and the related applicability condition for countries where foreign room is not monitored, have been removed. (Major)

2026-10-03T00:00:00Z

The methodology for securities subject to foreign ownership limits has been simplified: foreign-investor free float is now the lesser of estimated free float and the unadjusted FOL. The prior adjustment that reduced FOL by foreign-held non-free-float stakes, and the related applicability condition for countries where foreign room is not monitored, have been removed. Previous: Free Float (%) = 100% minus Non-Free Float Shareholdings (%) Securities Subject to FOLs For securities subject to FOLs, the estimated free float available to foreign investors is equal to the lesser of: Estimate of free float, as defined above. FOL adjusted for non-free float stakes held by foreign investors*. * It is applicable only to companies classified in countries for which foreign room is not monitored Free Float for Foreign Investors (%) = Lower of: 100% minus Non-Free Float Shareholdings, including Domestic and Foreign Shareholdings FOL minus Foreign Non-Free Float Shareholdings Updated: Free Float (%) = 100% minus Non-Free Float Shareholdings (%) Securities Subject to FOLs For securities subject to FOLs, the estimated free float available to foreign investors is equal to the lesser of: Estimate of free float, as defined above. FOL Free Float for Foreign Investors (%) = Lower of: 100% minus Non-Free Float Shareholdings, including Domestic and Foreign Shareholdings FOL

MSCI ACWI: The updated section removes introductory/overview wording about defining free float, assigning FIFs, calculating free float-adjusted market capitalization, and using that market capitalization in index weights. It also removes the repeated section heading from the opening line; the substantive free float definition and estimation methodology remain unchanged. (Editorial)

2026-10-03T00:00:00Z

The updated section removes introductory/overview wording about defining free float, assigning FIFs, calculating free float-adjusted market capitalization, and using that market capitalization in index weights. It also removes the repeated section heading from the opening line; the substantive free float definition and estimation methodology remain unchanged. Previous: MSCI’s definition of free float Assigning a free float-adjustment factor to each security (Foreign Inclusion Factor or FIF) Calculating the free float-adjusted market capitalization of each security The free float-adjusted market capitalization is used to calculate the weights of the securities in the indexes. Defining and Estimating Free Float MSCI’s estimation of free float is based solely on publicly available shareholder information. Updated: MSCI’s estimation of free float is based solely on publicly available shareholder information.

MSCI ACWI: The updated text expands the introductory sentence into an explicit three-step description of free-float adjustment: define/estimate foreign-investor free float, assign a Foreign Inclusion Factor, and calculate free-float-adjusted market capitalization. It also states that this adjusted capitalization is used to calculate index weights. (Minor)

2026-10-03T00:00:00Z

The updated text expands the introductory sentence into an explicit three-step description of free-float adjustment: define/estimate foreign-investor free float, assign a Foreign Inclusion Factor, and calculate free-float-adjusted market capitalization. It also states that this adjusted capitalization is used to calculate index weights. Previous: MSCI calculates the free float-adjusted market capitalization of each security in the equity index universe. The process of free float-adjusting market capitalization involves: Updated: MSCI calculates the free float-adjusted market capitalization of each security in the equity index universe. The process of free float-adjusting market capitalization involves: Defining and estimating the free float available to foreign investors for each security, using MSCI’s definition of free float Assigning a free float-adjustment factor to each security (Foreign Inclusion Factor or FIF) Calculating the free float-adjusted market capitalization of each security The free float-adjusted market capitalization is used to calculate the weights of the securities in the indexes.

MSCI ACWI: The only change is to the superscript/reference marker attached to “Market,” changing “Market1” to “Market0F1.” No index construction, eligibility, selection, weighting, or other methodology rule is changed. (Editorial)

2026-10-03T00:00:00Z

The only change is to the superscript/reference marker attached to “Market,” changing “Market1” to “Market0F1.” No index construction, eligibility, selection, weighting, or other methodology rule is changed. Previous: The MSCI Global Investable Markets Indexes are constructed and maintained at an individual Market1 level. Updated: The MSCI Global Investable Markets Indexes are constructed and maintained at an individual Market0F1 level.

MSCI ACWI: The update removes the standalone heading/title line "U.S. Executive Order 13959" at the beginning of Appendix V. The substantive treatment of securities affected by Executive Order 13959 is unchanged. (Editorial)

2026-10-03T00:00:00Z

The update removes the standalone heading/title line "U.S. Executive Order 13959" at the beginning of Appendix V. The substantive treatment of securities affected by Executive Order 13959 is unchanged. Previous: U.S. Executive Order 13959

MSCI ACWI: The only change is the in-text footnote marker for the 5% Country IMI materiality threshold, from footnote "42" to "42F42". The substantive foreign-listing eligibility rules, thresholds, country list, and February 2026 review statement are unchanged. (Editorial)

2026-10-03T00:00:00Z

The only change is the in-text footnote marker for the 5% Country IMI materiality threshold, from footnote "42" to "42F42". The substantive foreign-listing eligibility rules, thresholds, country list, and February 2026 review statement are unchanged. Previous: Calculate the aggregate free float-adjusted market capitalization of all such securities This aggregate market capitalization of securities represented by foreign listings should represent at least: - 5% of the free float-adjusted market capitalization of the relevant MSCI Country IMI 42, and - 0.05% of the free float-adjusted market capitalization of the MSCI ACWI IMI. Updated: Calculate the aggregate free float-adjusted market capitalization of all such securities This aggregate market capitalization of securities represented by foreign listings should represent at least: - 5% of the free float-adjusted market capitalization of the relevant MSCI Country IMI 42F42, and - 0.05% of the free float-adjusted market capitalization of the MSCI ACWI IMI.

MSCI ACWI: The update changes only the internal footnote/reference markers in the Country Specific Cases section, such as "38" to "38F38" and similarly for footnotes 39–41. No country-classification, eligibility, threshold, or affected-security rule was changed. (Editorial)

2026-10-03T00:00:00Z

The update changes only the internal footnote/reference markers in the Country Specific Cases section, such as "38" to "38F38" and similarly for footnotes 39–41. No country-classification, eligibility, threshold, or affected-security rule was changed. Previous: China: The MSCI China universe includes companies incorporated in Mainland China and listed in the form of A shares38, CDRs or B shares on the Shanghai Stock Exchange (in US$) or Shenzhen Stock Exchange (in HK$), or H shares on the Hong Kong Stock Exchange (in HK$). However, such securities listed in the US and resulting from reverse mergers39 are not eligible for index inclusion. 40 Greece: The MSCI Greece universe includes companies incorporated in Cyprus that are listed on the Athens Exchange.41 Countries subject to economic sanctions: MSCI does not cover certain countries for which significant economic sanctions are applied. Updated: China: The MSCI China universe includes companies incorporated in Mainland China and listed in the form of A shares38F38, CDRs or B shares on the Shanghai Stock Exchange (in US$) or Shenzhen Stock Exchange (in HK$), or H shares on the Hong Kong Stock Exchange (in HK$). However, such securities listed in the US and resulting from reverse mergers39F39 are not eligible for index inclusion. 40F40 Greece: The MSCI Greece universe includes companies incorporated in Cyprus that are listed on the Athens Exchange.41F41 Countries subject to economic sanctions: MSCI does not cover certain countries for which significant economic sanctions are applied.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-03T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Country Name Stock Exchange Market Segment Eligibility of Foreign Listings ARGENTINA (10) Yes Free Market Banja Luka Stock Exchange Official Market BOSNIA HERZEGOVINA (1) - Free Market Sarajevo Stock Exchange Official Market Domestic Main Board BOTSWANA (2) Botswana Stock Exchange Yes Venture Capital Board BULGARIA (7) Bulgarian Stock Exchange Main Market - Main Market JAMAICA (2) Jamaica Stock Exchange Junior Market - Premium Board PALESTINE (3) Palestine Exchange - - PANAMA (8) Yes First Tier TRINIDAD AND TOBAGO (4) Trinidad and Tobago Stock Exchange - Second Tier Small and Medium Enterprises (12) PFTS Stock Exchange - UKRAINE (6) Yes Ukrainian Exchange - ZIMBABWE (5) Zimbabwe Stock Exchange (Harare) - - (1) Added as standalone market at the May 2010 Index Review (2) Added as standalone markets at the November 2008 Index Review (3) Added as standalone market at the May 2013 Index Review (4) Reclassified from Frontier Markets to standalone market at the May 2011 Index Review (5) Added as standalone markets at the November 2010 Index Review (6) Reclassified from Frontier Markets to standalone market at the August 2015 Index Review (7) Reclassified from Frontier Markets to standalone market at the August 2016 Index Review (8) Added as standalone market at the May 2017 Index Review, currently only US listed securities eligible (9) Added as standalone market at the May 2019 Index Review (10) Reclassified from Emerging Markets to standalone market at the November 2021 Index Review (11) Reclassified from Frontier Markets to standalone market at the February 2024 Index Review (12) Listings on this market segment are eligible for the MSCI Indexes as part of the August 2024 Index Review Updated: Country Name Stock Exchange Market Segment Eligibility of Foreign Listings ARGENTINA (10) Yes Free Market Banja Luka Stock Exchange Official Market BOSNIA HERZEGOVINA (1) - Free Market Sarajevo Stock Exchange Official Market Domestic Main Board BOTSWANA (2) Botswana Stock Exchange Yes Venture Capital Board BULGARIA (7) Bulgarian Stock Exchange Main Market - Main Market JAMAICA (2) Jamaica Stock Exchange Junior Market - Premium Board PALESTINE (3) Palestine Exchange - - PANAMA (8) Yes First Tier TRINIDAD AND TOBAGO (4) Trinidad and Tobago Stock Exchange Second Tier - Small and Medium Enterprises (12) PFTS Stock Exchange - UKRAINE (6) Yes Ukrainian Exchange - ZIMBABWE (5) Zimbabwe Stock Exchange (Harare) - - (1) Added as standalone market at the May 2010 Index Review (2) Added as standalone markets at the November 2008 Index Review (3) Added as standalone market at the May 2013 Index Review (4) Reclassified from Frontier Markets to standalone market at the May 2011 Index Review (5) Added as standalone markets at the November 2010 Index Review (6) Reclassified from Frontier Markets to standalone market at the August 2015 Index Review (7) Reclassified from Frontier Markets to standalone market at the August 2016 Index Review (8) Added as standalone market at the May 2017 Index Review, currently only US listed securities eligible (9) Added as standalone market at the May 2019 Index Review (10) Reclassified from Emerging Markets to standalone market at the November 2021 Index Review (11) Reclassified from Frontier Markets to standalone market at the February 2024 Index Review (12) Listings on this market segment are eligible for the MSCI Indexes as part of the August 2024 Index Review

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-03T00:00:00Z

Editorial change: wording only, no rule changed. Previous: CZECH REPUBLIC Prague Stock Exchange - Prime Market Growth Market Abu Dhabi Securities Exchange Main Market UNITED ARAB EMIRATES - Dubai Financial Market - Updated: CZECH REPUBLIC Prague Stock Exchange Prime Market - Growth Market Abu Dhabi Securities Exchange Main Market UNITED ARAB EMIRATES - Dubai Financial Market -

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-03T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Country Name Stock Exchange Market Segment Eligibility of Foreign Listings AUSTRALIA Australian Securities Exchange ASX Official Market - Prime Market AUSTRIA Vienna Stock Exchange - Standard Market Continuous Euronext Growth Market BELGIUM Euronext Brussels - Regulated Market Toronto Stock Exchange - CANADA - Cboe Canada (2) NEO-L Nasdaq Copenhagen Main Market DENMARK First North Growth Market - Nasdaq First North Growth Market – Denmark First North Premier Growth Market Nasdaq Helsinki Main Market FINLAND First North Growth Market - Nasdaq First North Growth Market – Finland First North Premier Growth Market Euronext Growth Market FRANCE Euronext Paris - Regulated Market Basic Board GERMANY Deutsche Börse Xetra - EU Regulated market Open Market Growth Enterprise Market HONG KONG Stock Exchange of Hong Kong Yes Main Board (3) Euronext Growth Market IRELAND Euronext Dublin - Regulated Market ISRAEL Tel Aviv Stock Exchange - Yes Euronext Growth Market Global Equity Market (1) ITALY Borsa Italiana - Regulated Market Market for Investment Vehicle (2) Growth Market Prime Market Tokyo Stock Exchange Standard Market JAPAN Tokyo Pro (2) - Main Market Nagoya Stock Exchange Next Market Premier Market NETHERLANDS Euronext Amsterdam Regulated Market Yes NEW ZEALAND New Zealand Stock Exchange Main Board - Euronext Expand NORWAY Euronext Oslo Børs Euronext Growth Market (2) - Regulated Market PORTUGAL Euronext Lisbon Regulated Market - Catalist SINGAPORE Singapore Exchange Yes Main Board Madrid Stock Exchange Mercado Continuo SPAIN Growth Companies - BME Growth SOCIMI Nasdaq Stockholm Main Market Nordic Growth Market Main Regulated Market Nordic SME SWEDEN (5) Yes First North Growth Market Nasdaq First North Growth Market – Sweden First North Premier Growth Market Spotlight Stock Exchange - Blue Chip Shares Mid-/Small-Cap Shares SIX Swiss Exchange Secondary Listing Shares SWITZERLAND Sparks Shares - Sponsored Foreign Shares (1) SME Main Market BX Swiss Sponsored Shares Admission Updated: Country Name Stock Exchange Market Segment Eligibility of Foreign Listings AUSTRALIA Australian Securities Exchange ASX Official Market - Prime Market AUSTRIA Vienna Stock Exchange - Standard Market Continuous Euronext Growth Market BELGIUM Euronext Brussels - Regulated Market Toronto Stock Exchange - CANADA - Cboe Canada (2) NEO-L Nasdaq Copenhagen Main Market DENMARK First North Growth Market - Nasdaq First North Growth Market – Denmark First North Premier Growth Market Nasdaq Helsinki Main Market FINLAND - First North Growth Market Nasdaq First North Growth Market – Finland First North Premier Growth Market Euronext Growth Market FRANCE Euronext Paris - Regulated Market Basic Board GERMANY Deutsche Börse Xetra EU Regulated market - Open Market Growth Enterprise Market HONG KONG Stock Exchange of Hong Kong Yes Main Board (3) Euronext Growth Market IRELAND Euronext Dublin - Regulated Market ISRAEL Tel Aviv Stock Exchange - Yes Euronext Growth Market Global Equity Market (1) ITALY Borsa Italiana - Regulated Market Market for Investment Vehicle (2) Growth Market Prime Market Tokyo Stock Exchange Standard Market JAPAN - Tokyo Pro (2) Main Market Nagoya Stock Exchange Next Market Premier Market NETHERLANDS Euronext Amsterdam Regulated Market Yes NEW ZEALAND New Zealand Stock Exchange Main Board - Euronext Expand NORWAY Euronext Oslo Børs Euronext Growth Market (2) - Regulated Market PORTUGAL Euronext Lisbon Regulated Market - Catalist SINGAPORE Singapore Exchange Yes Main Board Madrid Stock Exchange Mercado Continuo SPAIN Growth Companies - BME Growth SOCIMI Nasdaq Stockholm Main Market Nordic Growth Market Main Regulated Market Nordic SME SWEDEN (5) Yes First North Growth Market Nasdaq First North Growth Market – Sweden First North Premier Growth Market Spotlight Stock Exchange - Blue Chip Shares Mid-/Small-Cap Shares SIX Swiss Exchange Secondary Listing Shares SWITZERLAND Sparks Shares - Sponsored Foreign Shares (1) SME Main Market BX Swiss Sponsored Shares Admission

MSCI ACWI: The extracted section content was reduced from the single word “Indexes” to blank text. No substantive index rule, threshold, condition, or affected-security set is present in the changed passage. (Editorial)

2026-10-03T00:00:00Z

The extracted section content was reduced from the single word “Indexes” to blank text. No substantive index rule, threshold, condition, or affected-security set is present in the changed passage. Previous: Indexes

MSCI ACWI: The updated section makes only typographical and footnote-reference formatting changes: it removes spaces inside the phrase “12-month ATVR” and changes ordinary footnote markers to styled markers (e.g., “35F35”). No liquidity thresholds, eligibility conditions, listing priorities, or adjustment-factor rules changed. (Editorial)

2026-10-03T00:00:00Z

The updated section makes only typographical and footnote-reference formatting changes: it removes spaces inside the phrase “12-month ATVR” and changes ordinary footnote markers to styled markers (e.g., “35F35”). No liquidity thresholds, eligibility conditions, listing priorities, or adjustment-factor rules changed. Previous: During Index Reviews, existing constituents of the IMI in average and low liquidity markets may remain in a Market Investable Universe if their 12‐ month ATVR stays above 2/3rd of the minimum level requirement of 15% for average liquidity markets and 5% for low liquidity markets. Existing constituents of the IMI in very low liquidity markets may remain in a Market Investable Universe if their 12‐ month ATVR stays above 1%. If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing35 Foreign listing in the same geographical region36 Foreign listing in a different geographical region37. Updated: During Index Reviews, existing constituents of the IMI in average and low liquidity markets may remain in a Market Investable Universe if their 12‐month ATVR stays above 2/3rd of the minimum level requirement of 15% for average liquidity markets and 5% for low liquidity markets. Existing constituents of the IMI in very low liquidity markets may remain in a Market Investable Universe if their 12‐month ATVR stays above 1%. If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing35F35 Foreign listing in the same geographical region 36F36 Foreign listing in a different geographical region 37F37.

MSCI ACWI: The update removes an internal space in the term "12-month ATVR" (from "12‐ month" to "12‐month"). There is no change to the Frontier Markets liquidity categories, ATVR thresholds, frequency-of-trading requirement, or review treatment. (Editorial)

2026-10-03T00:00:00Z

The update removes an internal space in the term "12-month ATVR" (from "12‐ month" to "12‐month"). There is no change to the Frontier Markets liquidity categories, ATVR thresholds, frequency-of-trading requirement, or review treatment. Previous: The corresponding minimum liquidity requirement levels are set at 2.5%, 5% or 15% 12‐ month ATVR, respectively. Updated: The corresponding minimum liquidity requirement levels are set at 2.5%, 5% or 15% 12‐month ATVR, respectively.

MSCI ACWI: The update removes the stray running-header text "Markets Indexes" from the beginning of the subsection. No methodology, eligibility, liquidity, size, continuity, or corporate-action rule is changed. (Editorial)

2026-10-03T00:00:00Z

The update removes the stray running-header text "Markets Indexes" from the beginning of the subsection. No methodology, eligibility, liquidity, size, continuity, or corporate-action rule is changed. Previous: Markets Indexes This section should be read in conjunction with the earlier Section 2 ‘Constructing the MSCI Global Investable Market Indexes’ and Section 3 ‘Maintaining the MSCI Global Investable Market Indexes’. Updated: This section should be read in conjunction with the earlier Section 2 ‘Constructing the MSCI Global Investable Market Indexes’ and Section 3 ‘Maintaining the MSCI Global Investable Market Indexes’.

MSCI ACWI: The updated document adds a title/header identifying the document as the MSCI Global Investable Market Indexes Methodology, dated November 2025. The provided text contains no index rule, eligibility criterion, formula, schedule, or other substantive methodology requirement. (Editorial)

2026-10-03T00:00:00Z

The updated document adds a title/header identifying the document as the MSCI Global Investable Market Indexes Methodology, dated November 2025. The provided text contains no index rule, eligibility criterion, formula, schedule, or other substantive methodology requirement. Updated: MSCI Global Investable Market Indexes Methodology | November 2025

MSCI ACWI: The only change is formatting of the footnote marker after “developed markets universe,” from “34” to “34F34,” with an added preceding space. The substantive frontier-markets eligibility criteria are unchanged. (Editorial)

2026-10-03T00:00:00Z

The only change is formatting of the footnote marker after “developed markets universe,” from “34” to “34F34,” with an added preceding space. The substantive frontier-markets eligibility criteria are unchanged. Previous: MSCI starts by considering all equity markets not included in the MSCI Emerging Markets Index, that: demonstrate a relative openness to and accessibility for foreign investors are generally not considered as part of the developed markets universe34 do not belong to countries undergoing a period of extreme economic (e.g., hyperinflation) or political instability (e.g., civil war) Updated: MSCI starts by considering all equity markets not included in the MSCI Emerging Markets Index, that: demonstrate a relative openness to and accessibility for foreign investors are generally not considered as part of the developed markets universe 34F34 do not belong to countries undergoing a period of extreme economic (e.g., hyperinflation) or political instability (e.g., civil war)

MSCI ACWI: The updated methodology adds a special post-event minimum float-adjusted market capitalization requirement for Standard Index constituents whose FIF falls below 0.15. In that case, the requirement is set at two-thirds of 1.8 times one-half of the Standard Index Interim Size-Segment Cutoff. No effective date is stated in the provided text. (Major)

2026-10-03T00:00:00Z

The updated methodology adds a special post-event minimum float-adjusted market capitalization requirement for Standard Index constituents whose FIF falls below 0.15. In that case, the requirement is set at two-thirds of 1.8 times one-half of the Standard Index Interim Size-Segment Cutoff. No effective date is stated in the provided text. Updated: 33 If the Standard Index constituent has a FIF lower than 0.15 after the event, the minimum float-adjusted market capitalization requirement is 2/3rd of the 1.8 times one half of the Standard Index Interim Size-Segment Cutoff.

MSCI ACWI: The updated section reformats the introductory corporate-event condition as a separate line and removes footnote 33. The deleted footnote stated a special minimum float-adjusted market capitalization requirement for Standard Index constituents with post-event FIF below 0.15; no replacement rule appears in the updated text. (Major)

2026-10-03T00:00:00Z

The updated section reformats the introductory corporate-event condition as a separate line and removes footnote 33. The deleted footnote stated a special minimum float-adjusted market capitalization requirement for Standard Index constituents with post-event FIF below 0.15; no replacement rule appears in the updated text. Previous: Securities may also be considered for an early deletion due to a corporate event when: The Foreign Inclusion Factor (FIF) of the security decreases or is expected to decrease below 0.1533. 33 If the Standard Index constituent has a FIF lower than 0.15 after the event, the minimum float-adjusted market capitalization requirement is 2/3rd of the 1.8 times one half of the Standard Index Interim Size-Segment Cutoff. Updated: Securities may also be considered for an early deletion due to a corporate event when: The Foreign Inclusion Factor (FIF) of the security decreases or is expected to decrease below 0.1533.

MSCI ACWI: The section removes the stray heading fragment “Corporate Event,” splits one sentence into two, and reformats the post-event size-segment table. The substantive eligibility thresholds and treatment rules for large corporate events appear unchanged; the table reflow separates previously concatenated Standard and Small Cap rows. (Editorial)

2026-10-03T00:00:00Z

The section removes the stray heading fragment “Corporate Event,” splits one sentence into two, and reformats the post-event size-segment table. The substantive eligibility thresholds and treatment rules for large corporate events appear unchanged; the table reflow separates previously concatenated Standard and Small Cap rows. Previous: Corporate Event In order to reflect significant changes in the market capitalization of existing constituents in the Global Investable Market Indexes and in the World All Cap Indexes in a timely fashion while minimizing index turnover, the Size-Segment classification of a security is reviewed simultaneously with the event, if the market capitalization change implied by the event, including potential update in the number of shares for the security, is deemed significant. The post-event Size-Segment of the security, following a significant corporate event, is determined based on the rules outlined in the table below. Security is deleted from MSCI Indexes if it fails to meet any of the criteria outlined below. > 0.15 > 0.5* Standard Cutoff > 1.5*Standard Cutoff Standard < 0.15 >1.8 * 0.5 * Standard Cutoff Small Cap > 0.15 > 0.5* Standard Cutoff Standard < 1.5*Standard Cutoff & > Standard Cutoff > 0.15 < 0.5* Standard Cutoff Small Cap Updated: In order to reflect significant changes in the market capitalization of existing constituents in the Global Investable Market Indexes and in the World All Cap Indexes in a timely fashion while minimizing index turnover, the Size-Segment classification of a security is reviewed simultaneously with the event, if the market capitalization change implied by the event, including potential update in the number of shares for the security, is deemed significant. The post-event Size-Segment of the security, following a significant corporate event, is determined based on the rules outlined in the table below. Security is deleted from MSCI Indexes if it fails to meet any of the criteria outlined below. > 0.15 > 0.5* Standard Cutoff > 1.5*Standard Cutoff Standard < 0.15 >1.8 * 0.5 * Standard Cutoff > 0.15 > 0.5* Standard Cutoff Standard < 1.5*Standard Cutoff & Small Cap > 0.15 < 0.5* Standard Cutoff Small Cap > Standard Cutoff

MSCI ACWI: The update relocates footnote marker/reference text within the paragraph and restores the split phrase “public disclosure” to read continuously. No index rule, threshold, timing, or affected-security condition changes. (Editorial)

2026-10-03T00:00:00Z

The update relocates footnote marker/reference text within the paragraph and restores the split phrase “public disclosure” to read continuously. No index rule, threshold, timing, or affected-security condition changes. Previous: Such changes in Number of Shares and/or FIF that meet the implementation threshold defined in the MSCI Corporate Events Methodology, are implemented simultaneously with the event. When subsequent public 30 As described in section 3.2.7 disclosure is made by the company regarding the new shareholder structure following the event implementation resulting in a different estimate than that calculated at the time of the event, MSCI will update the Number of Shares, and/or FIFs at the following regularly scheduled Index Review in accordance with section 3.1.7 or 3.1.8 of the MSCI Global Investable Market Indexes Methodology. Updated: 30 As described in section 3.2.7 Such changes in Number of Shares and/or FIF that meet the implementation threshold defined in the MSCI Corporate Events Methodology, are implemented simultaneously with the event. When subsequent public disclosure is made by the company regarding the new shareholder structure following the event implementation resulting in a different estimate than that calculated at the time of the event, MSCI will update the Number of Shares, and/or FIFs at the following regularly scheduled Index Review in accordance with section 3.1.7 or 3.1.8 of the MSCI Global Investable Market Indexes Methodology.

MSCI ACWI: The section’s substantive cutoff rules are unchanged. The update only changes the IPO footnote marker from “30” to “0F30” and reformats line breaks so the three cutoff outcomes are presented more cleanly, including rejoining “upper bound.” (Editorial)

2026-10-03T00:00:00Z

The section’s substantive cutoff rules are unchanged. The update only changes the IPO footnote marker from “30” to “0F30” and reformats line breaks so the three cutoff outcomes are presented more cleanly, including rejoining “upper bound.” Previous: For the purpose of determining eligibility for early inclusion of securities, such as significant IPOs30, and/or assigning a company and its securities post a corporate event, e.g., mergers and spin-offs, to the appropriate Size-Segment Index an Interim Size-Segment Cutoff is used. The Interim Market Size-Segment Cutoff is set to: - The lower bound of the Global Minimum Size Range, if the Market Size-Segment Cutoff is below the lower bound. - The upper bound of the Global Minimum Size Range, if the Market Size-Segment Cutoff is above the upper - bound. The Market Size-Segment Cutoff, if it is within the Global Minimum Size Range. The daily values for the Market Size-Segment Cutoffs, the Segment Number of Companies and the Global Minimum Size Range are based on data from the previous trading day. Updated: For the purpose of determining eligibility for early inclusion of securities, such as significant IPOs0F30, and/or assigning a company and its securities post a corporate event, e.g., mergers and spin-offs, to the appropriate Size-Segment Index an Interim Size-Segment Cutoff is used. The Interim Market Size-Segment Cutoff is set to: - The lower bound of the Global Minimum Size Range, if the Market Size-Segment Cutoff is below the lower bound. - The upper bound of the Global Minimum Size Range, if the Market Size-Segment Cutoff is above the upper bound. - The Market Size-Segment Cutoff, if it is within the Global Minimum Size Range. The daily values for the Market Size-Segment Cutoffs, the Segment Number of Companies and the Global Minimum Size Range are based on data from the previous trading day.

MSCI ACWI: The update relocates the price-cutoff and business-day footnotes within Section 3.1.9 and consolidates line breaks/bullets around the price cutoff data uses. The substantive rules for equity universe, liquidity, and price cutoff dates, the 10-business-day price cutoff window, extraordinary-event treatment, and ongoing maintenance requirements remain unchanged. (Editorial)

2026-10-03T00:00:00Z

The update relocates the price-cutoff and business-day footnotes within Section 3.1.9 and consolidates line breaks/bullets around the price cutoff data uses. The substantive rules for equity universe, liquidity, and price cutoff dates, the 10-business-day price cutoff window, extraordinary-event treatment, and ongoing maintenance requirements remain unchanged. Previous: This is the relevant cutoff date for: - Data used to update the Equity Universe as per Sub-section 2.1: Defining the Equity Universe; - Data used for calculating the updated Equity Universe Minimum Size Requirement as per Sub-section 3.1.2.2: Updating the Equity Universe Minimum Size Requirement; Price Cutoff Date: any one of the last 10 business days28 of January for the February Index Review, of April for the May Index Review, of July for the August Index Review and of October for the November Index Review. This is the relevant cutoff date for: 28 If the effective date of the Index Review is within the announcement month, in such scenario Price Cutoff Date would also prepone accordingly by the same number of business days. For example, if the effective date of the November 2024 Index - Prices used for calculating market capitalization; - - Data used to update FIFs as per Sub-section 3.1.7: Index Review of changes in Foreign Inclusion Factors (FIFs); Data used to incorporate all foreign room changes. - Data used to update NOS as per Sub-section 3.1.8: Index Review of changes in Number of Shares (NOS). A business day is defined as a day from Monday to Friday where markets cumulatively constituting more than 80% of the MSCI All Countries World Index free float-adjusted market capitalization are expected to be open on the basis of a security’s country of listing 29. Review is November 26, 2024, the price cutoff date will be any one of the 10 business days from October 15, 2024 to October 28, 2024. 28Global holidays such as Thanksgiving, Good Friday and Easter Monday will be considered non-business days when determining price cut-off dates. 29 Currently, only Stock Connect eligible China A shares are included in the MSCI GIMI. Therefore, the China A share market will only be considered open if the Shanghai Stock Exchange, the Shenzhen Stock Exchange and the Stock Connect program are open. Updated: This is the relevant cutoff date for: - Data used to update the Equity Universe as per Sub-section 2.1: Defining the Equity Universe; - Data used for calculating the updated Equity Universe Minimum Size Requirement as per Sub-section 3.1.2.2: Updating the Equity Universe Minimum Size Requirement; Price Cutoff Date: any one of the last 10 business days28F28 of January for the February Index Review, of April for the May Index Review, of July for the August Index Review and of October for the November Index Review. This is the relevant cutoff date for: - Prices used for calculating market capitalization; Data used to update FIFs as per Sub-section 3.1.7: Index Review of changes in Foreign Inclusion Factors (FIFs); - - Data used to incorporate all foreign room changes. - Data used to update NOS as per Sub-section 3.1.8: Index Review of changes in Number of Shares (NOS). A business day is defined as a day from Monday to Friday where markets cumulatively constituting more than 80% of the MSCI All Countries World Index free float-adjusted market capitalization are expected to be open on the basis of a security’s country of listing29F29. 28 If the effective date of the Index Review is within the announcement month, in such scenario Price Cutoff Date would also prepone accordingly by the same number of business days. For example, if the effective date of the November 2024 Index Review is November 26, 2024, the price cutoff date will be any one of the 10 business days from October 15, 2024 to October 28, 2024. 28Global holidays such as Thanksgiving, Good Friday and Easter Monday will be considered non-business days when determining price cut-off dates. 29 Currently, only Stock Connect eligible China A shares are included in the MSCI GIMI. Therefore, the China A share market will only be considered open if the Shanghai Stock Exchange, the Shenzhen Stock Exchange and the Stock Connect program are open.

MSCI ACWI: The FIF review rule replaces the prior single “more than 1%” free-float change threshold with tiered absolute-change thresholds based on the security’s free float: 2.5% above 25% free float, 0.5% for 5%–25%, and 0.1% below 5%. The exceptions are also expanded or reworded to cover size-segment migrations, Micro Cap additions including IMI deletions, FOL-driven FIF changes, and corrections. (Minor)

2026-10-03T00:00:00Z

The FIF review rule replaces the prior single “more than 1%” free-float change threshold with tiered absolute-change thresholds based on the security’s free float: 2.5% above 25% free float, 0.5% for 5%–25%, and 0.1% below 5%. The exceptions are also expanded or reworded to cover size-segment migrations, Micro Cap additions including IMI deletions, FOL-driven FIF changes, and corrections. Previous: All FIF changes are reflected in the indexes provided the change in free float is more than 1% or in cases of corrections. In addition, all FIF changes are reflected for additions to the Standard/Small Cap Size-Segments, additions to the Micro Cap Index and deletions from the Standard Size-Segment as part of the Index Review. 27 Applicable only for securities still subject to FOLs. For example, if the FOL increases to 100% (i.e., FOL is no longer applicable) prior to the Price Cutoff Date, it will be reflected in the upcoming Index Review. In the case of India, MSCI would consider potential increases in FOL based on data published by Central Depository Services Limited’s (CDSL) and National Securities Depository Limited’s (NSDL). For securities that are not covered by the list provided by the CDSL/NSDL, FOL will be determined based on publicly available data. Updated: All FIF changes are reflected for existing index constituents subject to the following: For securities with free float greater than 25%, FIF/DIF change is implemented only if the absolute change in free float compared to current index DIF is at least 2.5% For securities with free float between 5% than 25%, FIF/DIF change is implemented only if the absolute change in free float compared to current index DIF is at least 0.5% For securities with free float less than 5%, FIF/DIF change is implemented only if the absolute change in free float compared to current index DIF is at least 0.1% 27 Applicable only for securities still subject to FOLs. For example, if the FOL increases to 100% (i.e., FOL is no longer applicable) prior to the Price Cutoff Date, it will be reflected in the upcoming Index Review. In the case of India, MSCI would consider potential increases in FOL based on data published by Central Depository Services Limited’s (CDSL) and National Securities Depository Limited’s (NSDL). For securities that are not covered by the list provided by the CDSL/NSDL, FOL will be determined based on publicly available data. In addition, the above mentioned thresholds would not be applicable and all FIF changes are reflected for: Additions to the Standard/Small Cap Size-Segments, including migrations between these two size-segments as part of the Index Review Additions to the Micro Cap Index, including deletions from the IMI as part of the Index Review FOL change resulting in a FIF change; In case of corrections.

MSCI ACWI: The updated section does not change any foreign-room adjustment, eligibility, review timing, or deletion rule. The differences are limited to table line wrapping/reflow and footnote reference formatting (e.g., “25” displayed as “F25”). (Editorial)

2026-10-03T00:00:00Z

The updated section does not change any foreign-room adjustment, eligibility, review timing, or deletion rule. The differences are limited to table line wrapping/reflow and footnote reference formatting (e.g., “25” displayed as “F25”). Previous: foreign room >= 15% <= foreign 7.5% <= foreign 3.75% <= foreign foreign room 25% room < 25% room < 15% room < 7.5% <3.75% Current adjustment factor = 1 1 1 0.25 0 If the foreign room of an existing constituent decreases below 3.75%, then the adjustment factor equals 0.25 In order to preserve index continuity, conformity with the minimum free float-adjusted market capitalization requirements for existing IMI Index constituents will be assessed using the free float-adjusted market capitalization before the application of the adjustment factor26. For example, to be considered for the May 2026 Index Review, the weight reduction or deletion should have been effective on or before the May 2025 Index Review); unless the upward movement of the adjustment factor is primarily driven by a change in FOL and provided that the increase in FOL27 happened prior to the Price Cutoff Date of the previous Index Review described in Section 3.1.9. Updated: foreign room >= 15% <= foreign 7.5% <= foreign 3.75% <= foreign foreign room 25% room < 25% room < 15% room < 7.5% <3.75% Current adjustment factor = 1 1 1 0.25 0 If the foreign room of an existing constituent decreases below 3.75%, then the adjustment factor equals 0.25F25 In order to preserve index continuity, conformity with the minimum free float-adjusted market capitalization requirements for existing IMI Index constituents will be assessed using the free float-adjusted market capitalization before the application of the adjustment factor26F26. For example, to be considered for the May 2026 Index Review, the weight reduction or deletion should have been effective on or before the May 2025 Index Review); unless the upward movement of the adjustment factor is primarily driven by a change in FOL and provided that the increase in FOL27F27 happened prior to the Price Cutoff Date of the previous Index Review described in Section 3.1.9.

MSCI ACWI: The update removes a stray leading word "Indexes" from the opening sentence and changes the footnote marker from "24" to "24F24." No buffer-zone thresholds, eligibility treatment, review rules, or other substantive methodology language changed. (Editorial)

2026-10-03T00:00:00Z

The update removes a stray leading word "Indexes" from the opening sentence and changes the footnote marker from "24" to "24F24." No buffer-zone thresholds, eligibility treatment, review rules, or other substantive methodology language changed. Previous: Indexes In order to better reflect the investment processes of size managers, allow for timely representation of market developments when securities move far away from size-segment The buffer zones at Index Reviews are defined with boundaries of 2/3rd of and 1.5 times the Market Size-Segment Cutoff between two size-segments24. Updated: In order to better reflect the investment processes of size managers, allow for timely representation of market developments when securities move far away from size-segment The buffer zones at Index Reviews are defined with boundaries of 2/3rd of and 1.5 times the Market Size-Segment Cutoff between two size-segments24F24.

MSCI ACWI: No substantive methodology text was added. The updated section has no extractable rule text, and the unified diff contains no changes. (Editorial)

2026-10-03T00:00:00Z

No substantive methodology text was added. The updated section has no extractable rule text, and the unified diff contains no changes.

MSCI ACWI: The updated section consolidates a line break within the upper-buffer eligibility rule and changes the displayed footnote marker from "23" to "23F23." The substantive wording and conditions for assigning companies to size-segments remain unchanged. (Editorial)

2026-10-03T00:00:00Z

The updated section consolidates a line break within the upper-buffer eligibility rule and changes the displayed footnote marker from "23" to "23F23." The substantive wording and conditions for assigning companies to size-segments remain unchanged. Previous: Companies greater than the upper buffer threshold 23 of the lower Size-Segment that are: - Currently in the lower Size-Segment Index or - Assigned to this Size-Segment during last Index Review and failed the Final Size-Segment Investability Requirement or - Investable companies during last Index Review that were not assigned to any Size-Segment. Updated: Companies greater than the upper buffer threshold 23F23 of the lower Size-Segment that are: - Currently in the lower Size-Segment Index or - Assigned to this Size-Segment during last Index Review and failed the Final Size-Segment Investability Requirement or - Investable companies during last Index Review that were not assigned to any Size-Segment.

MSCI ACWI: The updated section preserves all substantive rules for additions, deletions, the 5% and 20% reduction limits, small-market treatment, and cutoff determination. The changes are limited to line-wrapping, paragraph breaks, and footnote-reference formatting (for example, changing displayed footnote markers to “21F21” and “22F22”). (Editorial)

2026-10-03T00:00:00Z

The updated section preserves all substantive rules for additions, deletions, the 5% and 20% reduction limits, small-market treatment, and cutoff determination. The changes are limited to line-wrapping, paragraph breaks, and footnote-reference formatting (for example, changing displayed footnote markers to “21F21” and “22F22”). Previous: The process for adjusting the Segment Number of Companies is as follows: If additions to the Segment Number of Companies are required: - The number of companies is increased to include all companies with a full market capitalization higher than the upper boundary of the Global Minimum Size Range. - The number of companies is increased to include all companies with a full market capitalization higher than the upper limit of the Lower Size Range Boundary Proximity Area, if any, that are required to reach the lower boundary of the Market Coverage Target Range. 21 - The additions are made in descending order of full market capitalization. The full market capitalization of the last added company then becomes the Market Size-Segment Cutoff. These limits are implemented in the following steps: - First, a reduction of no more than 5% of the Initial Segment Number of Companies is made to bring the Market Size-Segment Cutoff into compliance with the Size and Coverage Target Area. Only the companies with full company market capitalization lower than the lower limit of the Upper Size Range Boundary Proximity Area can be removed. 22 - If this reduction brings the Market Size-Segment Cutoff into compliance with the Global Minimum Size Range, or removes at least half the free float-adjusted market capitalization that lies between the smallest company before the adjustment of the Initial Segment Number of Companies and the lower bound of the Global Minimum Size Range, no further adjustment is necessary. - If not, then a reduction of not more than 20% of the Initial Segment Number of Companies is made to remove at most half the free float-adjusted market capitalization that lies between the smallest company before adjusting the Initial Segment Number of Companies and the lower bound. - In market segments with a small number of companies, the deletion of the first two companies is not subject to - the limits described above. 22 When a limit is placed on the decrease in the number of Updated: The process for adjusting the Segment Number of Companies is as follows: If additions to the Segment Number of Companies are required: - The number of companies is increased to include all companies with a full market capitalization higher than the upper boundary of the Global Minimum Size Range. - The number of companies is increased to include all companies with a full market capitalization higher than the upper limit of the Lower Size Range Boundary Proximity Area, if any, that are required to reach the lower boundary of the Market Coverage Target Range.21F21 - The additions are made in descending order of full market capitalization. The full market capitalization of the last added company then becomes the Market Size-Segment Cutoff. These limits are implemented in the following steps: - First, a reduction of no more than 5% of the Initial Segment Number of Companies is made to bring the Market Size-Segment Cutoff into compliance with the Size and Coverage Target Area. Only the companies with full company market capitalization lower than the lower limit of the Upper Size Range Boundary Proximity Area can be removed.22F22 - If this reduction brings the Market Size-Segment Cutoff into compliance with the Global Minimum Size Range, or removes at least half the free float-adjusted market capitalization that lies between the smallest company before the adjustment of the Initial Segment Number of Companies and the lower bound of the Global Minimum Size Range, no further adjustment is necessary. - If not, then a reduction of not more than 20% of the Initial Segment Number of Companies is made to remove at most half the free float-adjusted market capitalization that lies between the smallest company before adjusting the Initial Segment Number of Companies and the lower bound. - In market segments with a small number of companies, the deletion of the first two companies is not subject to the limits described above. 22 - When a limit is placed on the decrease in the number

MSCI ACWI: The only change is the in-text footnote marker for “Interim Market Size-Segment Cutoff,” changing from “20” to “20F20.” The substantive rule for determining the Initial Segment Number of Companies and the footnote text are unchanged. (Editorial)

2026-10-03T00:00:00Z

The only change is the in-text footnote marker for “Interim Market Size-Segment Cutoff,” changing from “20” to “20F20.” The substantive rule for determining the Initial Segment Number of Companies and the footnote text are unchanged. Previous: If the Interim Market Size-Segment Cutoff20 is equal to or above the lower bound of the Global Minimum Size Range, then the Initial Segment Number of Companies is equal to the number of companies in the updated Investable Equity Universe with the full company market capitalization equal to or above the Interim Market Size-Segment Cutoff. Updated: If the Interim Market Size-Segment Cutoff20F20 is equal to or above the lower bound of the Global Minimum Size Range, then the Initial Segment Number of Companies is equal to the number of companies in the updated Investable Equity Universe with the full company market capitalization equal to or above the Interim Market Size-Segment Cutoff.

MSCI ACWI: The stray heading/word fragment "Cutoffs" was removed from the beginning of the sentence. The substantive statement that the Segment Number of Companies and Market Size-Segment Cutoffs are updated for changes in each Market Investable Equity Universe is unchanged. (Editorial)

2026-10-03T00:00:00Z

The stray heading/word fragment "Cutoffs" was removed from the beginning of the sentence. The substantive statement that the Segment Number of Companies and Market Size-Segment Cutoffs are updated for changes in each Market Investable Equity Universe is unchanged. Previous: Cutoffs The Segment Number of Companies and the corresponding Market Size-Segment Cutoffs are updated to account for changes in each Market Investable Equity Universe. Updated: The Segment Number of Companies and the corresponding Market Size-Segment Cutoffs are updated to account for changes in each Market Investable Equity Universe.

MSCI ACWI: The stray heading fragment "Ranges" was removed from the beginning of the paragraph. The substantive rule for resetting Global Minimum Size References and ranges at Index Reviews is unchanged. (Editorial)

2026-10-03T00:00:00Z

The stray heading fragment "Ranges" was removed from the beginning of the paragraph. The substantive rule for resetting Global Minimum Size References and ranges at Index Reviews is unchanged. Previous: Ranges The Global Minimum Size References and corresponding ranges are reset at the Index Reviews using a process similar to the one used to update the Equity Universe Minimum Size Requirement. More details may be found in Appendix X: Updating the Global Minimum Size References and Ranges. Updated: The Global Minimum Size References and corresponding ranges are reset at the Index Reviews using a process similar to the one used to update the Equity Universe Minimum Size Requirement. More details may be found in Appendix X: Updating the Global Minimum Size References and Ranges.

MSCI ACWI: The only change is formatting of the footnote reference markers in the listing-priority sentence. The priority rules for local listings, same-region foreign listings, and different-region foreign listings are substantively unchanged; no liquidity threshold, eligibility condition, or review treatment changed. (Editorial)

2026-10-03T00:00:00Z

The only change is formatting of the footnote reference markers in the listing-priority sentence. The priority rules for local listings, same-region foreign listings, and different-region foreign listings are substantively unchanged; no liquidity threshold, eligibility condition, or review treatment changed. Previous: If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing17 Foreign listing in the same geographical region18 Foreign listing in a different geographical region19. Updated: If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing17F17 Foreign listing in the same geographical region 18F18 Foreign listing in a different geographical region 19F19.

MSCI ACWI: The updated section makes no substantive methodology change. It only alters footnote-reference formatting in the composite index examples (e.g., “14” becomes “14F14”) and the section footnote marker. (Editorial)

2026-10-03T00:00:00Z

The updated section makes no substantive methodology change. It only alters footnote-reference formatting in the composite index examples (e.g., “14” becomes “14F14”) and the section footnote marker. Previous: Market Indexes can be grouped either on the basis of Market Classification 14 definition, geographical regions, economic regions or other criteria. Developed, Emerging and Frontier Markets, we obtain the MSCI World 15, the MSCI Emerging Markets and the MSCI Frontier Markets Indexes respectively for each size-segment. Some examples would be the MSCI EM Asia Index or the MSCI All Countries16 Americas Index. Updated: Market Indexes can be grouped either on the basis of Market Classification 14F14 definition, geographical regions, economic regions or other criteria. Developed, Emerging and Frontier Markets, we obtain the MSCI World15F15, the MSCI Emerging Markets and the MSCI Frontier Markets Indexes respectively for each size-segment. Some examples would be the MSCI EM Asia Index or the MSCI All Countries16F16 Americas Index.

MSCI ACWI: The only shown change is the removal of the standalone running-heading text "Markets Indexes." No index methodology rule, threshold, process, or affected security set is present in the changed passage. (Editorial)

2026-10-03T00:00:00Z

The only shown change is the removal of the standalone running-heading text "Markets Indexes." No index methodology rule, threshold, process, or affected security set is present in the changed passage. Previous: Markets Indexes

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-03T00:00:00Z

Editorial change: wording only, no rule changed. Previous: At subsequent Index Reviews, if after the application of the index maintenance methodology a Standard Index contains less than five securities in a Developed Market or three securities in an Emerging Market, then the remaining securities are selected for inclusion in the Standard Index using the following process: - The securities included in the updated Market Investable Equity Universe are identified - These securities are ranked by descending free float-adjusted market capitalization, however in order to increase index stability the free float-adjusted market capitalization of the securities included in the Standard Index prior to the Index Review is multiplied by a factor of 1.5 - The securities are added to the Standard Index in order to reach five constituents for a Developed Market or three for an Emerging Market in the ranking order determined in the step above Please note that the index continuity rules are applicable only to the Standard Market Indexes. Updated: At subsequent Index Reviews, if after the application of the index maintenance methodology a Standard Index contains less than five securities in a Developed Market or three securities in an Emerging Market, then the remaining securities are selected for inclusion in the Standard Index using the following process: - The securities included in the updated Market Investable Equity Universe are identified - These securities are ranked by descending free float-adjusted market capitalization, however in order to increase index stability the free float-adjusted market capitalization of the securities included in the Standard Index prior to the Index Review is multiplied by a factor of 1.5 The securities are added to the Standard Index in order to reach five constituents for a Developed Market or three for an Emerging Market in the ranking order determined in the step above Please note that the index continuity rules are applicable only to the Standard Market Indexes.

MSCI ACWI: The updated section only removes a duplicated running heading (“Size-Segments: Example”) before the USA example and reformats line breaks around the Hungary chart labels and axis values. The USA and Hungary examples, thresholds, rankings, market capitalizations, and coverage figures are unchanged. (Editorial)

2026-10-03T00:00:00Z

The updated section only removes a duplicated running heading (“Size-Segments: Example”) before the USA example and reformats line breaks around the Hungary chart labels and axis values. The USA and Hungary examples, thresholds, rankings, market capitalizations, and coverage figures are unchanged. Previous: Size-Segments: Example Example: For the USA Standard segment, companies are counted in descending order of full market capitalization starting with the largest company. 5,000 and Hungary Smallest Company in the Higher Standard Index 4,500 4,000 3,500 Company Full Market Capitalization 3,000 2,500 (80%, 2.33 B) (90%, 2.33 B) Global Minimum 2,000 Coverage Target Area (90%,1.01 B) 1,000 (80%,1.01 B) Market Coverage 500 Target Range Standard Index Small Cap Index 0 43.9% 77.4% 86.2% 96.3% 97.9% 99.0% 99.6% 100.0% Cumulative Free-Float Adjusted Market Capitalization Coverage Updated: Example: For the USA Standard segment, companies are counted in descending order of full market capitalization starting with the largest company. 5,000 and Hungary Smallest Company in the Higher Standard Index 4,500 4,000 3,500 Company Full Market Capitalization 3,000 2,500 (80%, 2.33 B) (90%, 2.33 B) Global Minimum 2,000 Coverage Target Area (90%,1.01 B) 1,000 (80%,1.01 B) Market Coverage 500 Target Range Standard Index Small Cap Index 0 43.9% 77.4% 86.2% 96.3% 97.9% 99.0% 99.6% 100.0% Cumulative Free-Float Adjusted Market Capitalization Coverage

MSCI ACWI: The prior front-matter title and methodology description were removed from the listed section in the updated version. The text contains no index rule, threshold, schedule, formula, or security-set change. (Editorial)

2026-10-03T00:00:00Z

The prior front-matter title and methodology description were removed from the listed section in the updated version. The text contains no index rule, threshold, schedule, formula, or security-set change. Previous: Index Methodology MSCI Global Investable Market Indexes Methodology Index Construction Objectives, Guiding Principles and Methodology for the MSCI Global Investable Market Indexes MSCI Global Investable Market Indexes Methodology | November 2025

MSCI ACWI: The methodology content is unchanged. The update only reformats the section by splitting lines, adding the heading words "Segment Cutoffs" before the opening sentence, and correcting minor spacing/hyphenation such as "size-segment." (Editorial)

2026-10-03T00:00:00Z

The methodology content is unchanged. The update only reformats the section by splitting lines, adding the heading words "Segment Cutoffs" before the opening sentence, and correcting minor spacing/hyphenation such as "size-segment." Previous: The Market Size-Segment Cutoffs are derived by identifying a size cutoff which falls within, or as close as possible to, the Size and Coverage Target Area for that size-segment. MSCI notes the respective full market capitalization of the companies that provide the following free float-adjusted market capitalization coverage for the relevant size-segments: - Large Cap Index: 70% - Standard Index: 85% - Investable Market Index: 99% If the full market capitalization of the relevant company lies within the Global Minimum Size Range for the size-segment, then: - The full market capitalization of the relevant company defines the Market Size-Segment Cutoff for that sizesegment at that point in time. - The number of companies with full market capitalization greater than or equal to the relevant company provides the Segment Number of Companies, which will be used to maintain the indexes over time. If it is not, then: The number of companies is decreased until the full market capitalization of the smallest company in the size- segment is equal or higher than the lower bound of the Global Minimum Size Range for that size-segment. Or, - The number of companies is increased to include all companies with a full market capitalization higher than the upper bound of the Global Minimum Size Range for that size-segment. - The full market capitalization of the last company defines the Market Size-Segment Cutoff for that segment and the Segment Number of Companies is set to this company’s rank. Updated: Segment Cutoffs The Market Size-Segment Cutoffs are derived by identifying a size cutoff which falls within, or as close as possible to, the Size and Coverage Target Area for that size-segment. MSCI notes the respective full market capitalization of the companies that provide the following free float-adjusted market capitalization coverage for the relevant size-segments: - Large Cap Index: 70% - Standard Index: 85% - Investable Market Index: 99% If the full market capitalization of the relevant company lies within the Global Minimum Size Range for the size-segment, then: - The full market capitalization of the relevant company defines the Market Size-Segment Cutoff for that size- segment at that point in time. - The number of companies with full market capitalization greater than or equal to the relevant company provides the Segment Number of Companies, which will be used to maintain the indexes over time. If it is not, then: - The number of companies is decreased until the full market capitalization of the smallest company in the size- segment is equal or higher than the lower bound of the Global Minimum Size Range for that size-segment. Or, - The number of companies is increased to include all companies with a full market capitalization higher than the upper bound of the Global Minimum Size Range for that size-segment. - The full market capitalization of the last company defines the Market Size-Segment Cutoff for that segment and the Segment Number of Companies is set to this company’s rank.

MSCI ACWI: The Global Minimum Size Reference data is refreshed from the January 16, 2026 / February 2026 values to the April 20, 2026 / May 2026 values. The illustrative DM Standard threshold and ranges, as well as the Large Cap, Mid Cap/Standard, and Small Cap reference values for DM, EM, and Frontier Markets, are updated; the 70%, 85%, and 99% coverage methodology and 0.5x–1.15x range rules are unchanged. (Minor)

2026-10-03T00:00:00Z

The Global Minimum Size Reference data is refreshed from the January 16, 2026 / February 2026 values to the April 20, 2026 / May 2026 values. The illustrative DM Standard threshold and ranges, as well as the Large Cap, Mid Cap/Standard, and Small Cap reference values for DM, EM, and Frontier Markets, are updated; the 70%, 85%, and 99% coverage methodology and 0.5x–1.15x range rules are unchanged. Previous: Then, the respective full market capitalizations of the companies that provide the following cumulative free float-adjusted market capitalization coverage of the DM Investable Equity Universe are chosen: - DM Large Cap Index: 70% coverage - DM Standard Index: 85% coverage DM Investable Market Index: 99% coverage - For Emerging Markets, the Global Minimum Size Reference is set at one-half the corresponding level of full market capitalization used for the Developed Markets for each size-segment. The Global Minimum Size References for the Large Cap, Standard, and Investable Market segments, based on January 16, 2026 data, are set forth below. The full market capitalization of the company that provides at least an 85% cumulative free float-adjusted coverage of the DM Investable Equity Universe is USD 15.20 billion. 0.5 times to 1.15 times to this Global Minimum Size Reference gives the Global Minimum Size Range of USD 7.60 billion to USD 17.48billion for the DM Standard Indexes. The EM range for the Standard Indexes, therefore, is USD 3.80 billion to USD 8.74 billion. Global Minimum Size Reference Percent of Free Float Investable Equity Developed Markets Emerging Markets Frontier Markets Adjusted Market Universe Global Minimum Size Global Minimum Size Global Minimum Size Coverage Reference Reference (50% of DM) Reference Feb-26 Feb-26 Feb-26 Universe Large Cap 70% 49,097 24,548 1,181 Mid Cap 85% 15,198 7,599 452 Small Cap 99% 1,158 579 32 All market caps are in USD millions. Data as of the close of January 16, 2026 The Developed Markets and Frontier Markets Global Minimum Size References are calculated based on the Developed Markets and Frontier Markets Investable Equity Universes, respectively. Updated: Then, the respective full market capitalizations of the companies that provide the following cumulative free float-adjusted market capitalization coverage of the DM Investable Equity Universe are chosen: - DM Large Cap Index: 70% coverage - DM Standard Index: 85% coverage - DM Investable Market Index: 99% coverage For Emerging Markets, the Global Minimum Size Reference is set at one-half the corresponding level of full market capitalization used for the Developed Markets for each size-segment. The Global Minimum Size References for the Large Cap, Standard, and Investable Market segments, based on April 20, 2026 data, are set forth below. The full market capitalization of the company that provides at least an 85% cumulative free float-adjusted coverage of the DM Investable Equity Universe is USD 15.75 billion. 0.5 times to 1.15 times to this Global Minimum Size Reference gives the Global Minimum Size Range of USD 7.87 billion to USD 18.11 billion for the DM Standard Indexes. The EM range for the Standard Indexes, therefore, is USD 3.94 billion to USD 9.06 billion. Global Minimum Size Reference Percent of Free Float Investable Equity Developed Markets Emerging Markets Frontier Markets Adjusted Market Universe Global Minimum Global Minimum Size Global Minimum Coverage Size Reference Reference (50% of DM) Size Reference May-26 May-26 May-26 Universe Large Cap 70% 51,345 25,672 1,252 Mid Cap 85% 15,748 7,874 465 Small Cap 99% 1,187 594 32 All market caps are in USD millions. Data as of the close of April 20, 2026 The Developed Markets and Frontier Markets Global Minimum Size References are calculated based on the Developed Markets and Frontier Markets Investable Equity Universes, respectively.

MSCI ACWI: The disclaimer removes the specific statement identifying MSCI ESG Ratings and Research Private Limited as producer of MSCI India Domestic ESG Ratings and stating that they are offered domestically in India. The only other change is removal of an extra space in a sentence, with no substantive effect. (Editorial)

2026-10-03T00:00:00Z

The disclaimer removes the specific statement identifying MSCI ESG Ratings and Research Private Limited as producer of MSCI India Domestic ESG Ratings and stating that they are offered domestically in India. The only other change is removal of an extra space in a sentence, with no substantive effect. Previous: The intellectual property rights of MSCI and its Information Providers may not be misappropriated or used in a competitive manner through the use of thirdparty data or financial products linked to the Information, including by using an MSCI index-linked future or option in a competing third-party index to provide an exposure to the underlying MSCI index or by using an MSCI index-linked ETF to create a financial product that provides an exposure to the underlying MSCI index without obtaining a license from MSCI. MSCI India Domestic ESG Ratings are produced by MSCI ESG Ratings and Research Private Limited and offered domestically in India. Updated: The intellectual property rights of MSCI and its Information Providers may not be misappropriated or used in a competitive manner through the use of thirdparty data or financial products linked to the Information, including by using an MSCI index-linked future or option in a competing third-party index to provide an exposure to the underlying MSCI index or by using an MSCI index-linked ETF to create a financial product that provides an exposure to the underlying MSCI index without obtaining a license from MSCI.

MSCI ACWI: The contact section replaces MSCI's corporate description with updated branding describing MSCI Inc. and its NYSE listing, while retaining the same regional phone numbers, contact URL, and formal index-complaint link. The heading capitalization changes from "Contact Us" to "Contact us," and the section moves from page 189 to page 190. (Editorial)

2026-10-03T00:00:00Z

The contact section replaces MSCI's corporate description with updated branding describing MSCI Inc. and its NYSE listing, while retaining the same regional phone numbers, contact URL, and formal index-complaint link. The heading capitalization changes from "Contact Us" to "Contact us," and the section moves from page 189 to page 190. Previous: About MSCI AMERICA MSCI is a leading provider of critical decision United States + 1 888 588 4567 * support tools and services for the global Canada + 1 416 687 6270 investment community. With over 50 years of Brazil + 55 11 4040 7830 expertise in research, data and technology, we Mexico + 52 81 1253 4020 power better investment decisions by enabling clients to understand and analyze key drivers of risk and return and confidently build more EUROPE, MIDDLE EAST & AFRICA effective portfolios. We create industry-leading research-enhanced solutions that clients use to South Africa + 27 21 673 0103 gain insight into and improve transparency across Germany + 49 69 133 859 00 the investment process. Switzerland + 41 22 817 9777 United Kingdom + 44 20 7618 2222 Italy + 39 02 5849 0415 To learn more, please visit www.msci.com. France + 33 17 6769 810 msci.com/contact-us ASIA PACIFIC The process for submitting a formal index complaint China + 86 21 61326611 can be found on the index regulation page of MSCI’s Hong Kong + 852 2844 9333 website at: https://www.msci.com/index-regulation. India + 91 22 6784 9160 Malaysia 1800818185 * South Korea + 82 70 4769 4231 Singapore + 65 67011177 Australia + 612 9033 9333 Taiwan 008 0112 7513 * Thailand 0018 0015 6207 7181 * Japan + 81 3 4579 0333 * toll-free Updated: About MSCI Inc. AMERICA MSCI (NYSE: MSCI Inc.) strengthens global United States + 1 888 588 4567 * markets by connecting participants across the Canada + 1 416 687 6270 financial ecosystem with a common language. Brazil + 55 11 4040 7830 Our research-based data, analytics and indexes, Mexico supported by advanced technology, set + 52 81 1253 4020 standards for global investors and help our clients understand risks and opportunities so they can EUROPE, MIDDLE EAST & AFRICA make better decisions and unlock innovation. We serve asset managers and owners, private- South Africa + 27 21 673 0103 market sponsors and investors, hedge funds, Germany + 49 69 133 859 00 wealth managers, banks, insurers and corporates. Switzerland + 41 22 817 9777 To learn more, please visit www.msci.com United Kingdom + 44 20 7618 2222 msci.com/contact-us Italy + 39 02 5849 0415 The process for submitting a formal index France + 33 17 6769 810 complaint can be found on the index regulation page of MSCI’s website at: ASIA PACIFIC https://www.msci.com/index-regulation. China + 86 21 61326611 Hong Kong + 852 2844 9333 India + 91 22 6784 9160 Malaysia 1800818185 * South Korea + 82 70 4769 4231 Singapore + 65 67011177 Australia + 612 9033 9333 Taiwan 008 0112 7513 * Thailand 0018 0015 6207 7181 * Japan + 81 3 4579 0333 * toll-free

MSCI ACWI: The methodology change history adds a May 2026 entry for a new MSCI Southbound Index appendix. Other differences shown are line-break/formatting changes in the historical change log, including one historical section title that is truncated across a line. (Minor)

2026-10-03T00:00:00Z

The methodology change history adds a May 2026 entry for a new MSCI Southbound Index appendix. Other differences shown are line-break/formatting changes in the historical change log, including one historical section title that is truncated across a line. Previous: Section 3.2.3: Quarterly Index Review of Deletion of Companies Currently Constituents of the Investable Market Indexes Updates in this section on priority rules for selection of listings Appendix deleted The following sections have been modified since February 2016: Appendix VIII: Policy Regarding Trading Suspensions and Market Closures during Index Review Added clarification for “Index Review changes” The following section has been modified since June 2016: Section 3.2.3: Quarterly Index Review of Deletion of Companies Currently Constituents of the Investable Market Indexes Added footnote on priority rule for local listings The following sections have been modified since November 2016: Appendix VIII: Policy Regarding Trading Suspensions and Market Closures during Index Review Updates in this section The following sections have been modified since April 2017: Appendix XIX: Transition to the MSCI GIMI Methodology Previously Appendix XVII The following sections have been modified since August 2018: Appendix removed The following sections have been modified since February 2019: Appendix XII: MSCI Domestic Indexes Updated to reflect treatment of investment sanctions related to U.S. Executive Order 13959 The following sections have been modified since December 2020: Appendix III: Country Classification of Securities Clarifications added The following sections have been modified as of November 2021: Appendix XI: Frontier Markets Country Classification Updated the table The following sections have been modified as of February 2024: Appendix VI: Free Float Definition and Estimation Guidelines Updated the free float rounding rules Updated the Treatment of Depository Receipts where Underlying Shares are Not Available for Trading Updated: Section 3.2.3: Quarterly Index Review of Deletion of Companies Currently Constituents of the Updates in this section on priority rules for selection of listings Appendix deleted The following sections have been modified since February 2016: Appendix VIII: Policy Regarding Trading Suspensions and Market Closures during Index Review Added clarification for “Index Review changes” The following section has been modified since June 2016: Section 3.2.3: Quarterly Index Review of Deletion of Companies Currently Constituents of the Investable Market Indexes Added footnote on priority rule for local listings The following sections have been modified since November 2016: Appendix VIII: Policy Regarding Trading Suspensions and Market Closures during Index Review Updates in this section The following sections have been modified since April 2017: Appendix XIX: Transition to the MSCI GIMI Methodology Previously Appendix XVII The following sections have been modified since August 2018: Appendix removed The following sections have been modified since February 2019: Appendix XII: MSCI Domestic Indexes Updated to reflect treatment of investment sanctions related to U.S. Executive Order 13959 The following sections have been modified since December 2020: Appendix III: Country Classification of Securities Clarifications added The following sections have been modified as of November 2021: Appendix XI: Frontier Markets Country Classification Updated the table The following sections have been modified as of February 2024: Appendix VI: Free Float Definition and Estimation Guidelines Updated the free float rounding rules Updated the Treatment of Depository Receipts where Underlying Shares are Not Available for Trading The following section has been modified as of May 2026: Appendix XVIII: MSCI Southbound Index Added section for MSCI Southbound Indexes

MSCI ACWI: The appendix is renumbered from XX to XXI and gains the running heading "Indexes Methodology," while the footer/document date line is removed. The substantive historical description of the August 2023 Frontier Markets changes is unchanged; only bullet/paragraph formatting around the Baltic ATVR sentence shifts. (Editorial)

2026-10-03T00:00:00Z

The appendix is renumbered from XX to XXI and gains the running heading "Indexes Methodology," while the footer/document date line is removed. The substantive historical description of the August 2023 Frontier Markets changes is unchanged; only bullet/paragraph formatting around the Baltic ATVR sentence shifts. Previous: The MSCI Estonia, MSCI Lithuania and MSCI Latvia Indexes are then derived from the constituents of the MSCI Baltic States Indexes, As part of the August 2023 Index Review, the constituents of the MSCI Estonia and o MSCI Lithuania Indexes were considered as existing constituents of the MSCI Baltic States Index for rebalancing purpose, o The MSCI Baltic States Indexes is maintained as a Very Low Liquidity market with a minimum Annualized Traded Value Ratio (ATVR) requirement of 2.5%. MSCI Global Investable Market Indexes Methodology | November 2025 Updated: Indexes Methodology The MSCI Estonia, MSCI Lithuania and MSCI Latvia Indexes are then derived from the constituents of the MSCI Baltic States Indexes, As part of the August 2023 Index Review, the constituents of the MSCI Estonia and o MSCI Lithuania Indexes were considered as existing constituents of the MSCI Baltic States Index for rebalancing purpose, The MSCI Baltic States Indexes is maintained as a Very Low Liquidity market with a o minimum Annualized Traded Value Ratio (ATVR) requirement of 2.5%.

MSCI ACWI: The substantive rule is unchanged. The updated section inserts the repeated/stray heading text "compared to Parent Indexes" immediately before the first sentence, likely a formatting or editorial error. No review schedule, trigger, treatment, or affected index set changes. (Editorial)

2026-10-03T00:00:00Z

The substantive rule is unchanged. The updated section inserts the repeated/stray heading text "compared to Parent Indexes" immediately before the first sentence, likely a formatting or editorial error. No review schedule, trigger, treatment, or affected index set changes. Previous: Indexes constructed from a parent index that follows GIMI methodology but apply an alternative weighting methodology and/or additional screening methodology (Derived Indexes), such as MSCI Factor, ESG or Capped Indexes, may have Index Review schedules which do not always coincide with the Index Review schedule of their respective parent index. Updated: compared to Parent Indexes Indexes constructed from a parent index that follows GIMI methodology but apply an alternative weighting methodology and/or additional screening methodology (Derived Indexes), such as MSCI Factor, ESG or Capped Indexes, may have Index Review schedules which do not always coincide with the Index Review schedule of their respective parent index.

MSCI ACWI: The appendix is renumbered from XIX to XX and the text is reformatted with a standalone “Review” heading and paragraph breaks. No review-schedule rule, date, eligibility condition, or calculation methodology is changed. (Editorial)

2026-10-03T00:00:00Z

The appendix is renumbered from XIX to XX and the text is reformatted with a standalone “Review” heading and paragraph breaks. No review-schedule rule, date, eligibility condition, or calculation methodology is changed. Previous: Prior to the February 2023 Index Review, the MSCI Global Investable Market Indexes were reviewed on a quarterly basis which involved: - Semi-Annual Index Reviews (SAIRs) in May and November and - Quarterly Index Reviews (QIRs) in February and August The objective of the SAIRs was to systematically reassess the various dimensions of the Equity Universe for all markets, involving a comprehensive review of the Size-Segment Indexes. Updated: Review Prior to the February 2023 Index Review, the MSCI Global Investable Market Indexes were reviewed on a quarterly basis which involved: - Semi-Annual Index Reviews (SAIRs) in May and November and - Quarterly Index Reviews (QIRs) in February and August The objective of the SAIRs was to systematically reassess the various dimensions of the Equity Universe for all markets, involving a comprehensive review of the Size-Segment Indexes.

MSCI ACWI: The updated section adds the phrase "Review of the Small Cap Index" immediately before the existing first sentence. It does not alter any index-review rule, eligibility criterion, threshold, schedule, or affected securities; the substantive historical methodology text remains unchanged. (Editorial)

2026-10-03T00:00:00Z

The updated section adds the phrase "Review of the Small Cap Index" immediately before the existing first sentence. It does not alter any index-review rule, eligibility criterion, threshold, schedule, or affected securities; the substantive historical methodology text remains unchanged. Previous: The changes resulting from the May 2007 Annual Full Country Index Review of the existing Standard Indexes were announced on May 3, 2007, earlier than its normal announcement Updated: Review of the Small Cap Index The changes resulting from the May 2007 Annual Full Country Index Review of the existing Standard Indexes were announced on May 3, 2007, earlier than its normal announcement

MSCI ACWI: The updated section adds the word "Period" immediately before the existing opening phrase "During the transition period." There are no changes to dates, index review treatment, eligibility, weighting, or any other operative rule. (Editorial)

2026-10-03T00:00:00Z

The updated section adds the word "Period" immediately before the existing opening phrase "During the transition period." There are no changes to dates, index review treatment, eligibility, weighting, or any other operative rule. Previous: During the transition period, from May 4, 2007 through May 30, 2008, MSCI was maintaining its Updated: Period During the transition period, from May 4, 2007 through May 30, 2008, MSCI was maintaining its

MSCI ACWI: The updated section does not alter the DM/EM liquidity thresholds, China suspension rules, listing priority, USD 10,000 price screen, or ATVR adjustment policies. The visible changes are footnote-marker cleanup and reformatting of footnote 11, including converting the FIF adjustment statement into a bulleted note. (Editorial)

2026-10-03T00:00:00Z

The updated section does not alter the DM/EM liquidity thresholds, China suspension rules, listing priority, USD 10,000 price screen, or ATVR adjustment policies. The visible changes are footnote-marker cleanup and reformatting of footnote 11, including converting the FIF adjustment statement into a bulleted note. Previous: In addition to the ATVR and Frequency of Trading requirements, securities in the MSCI China Equity Universe will not be eligible for inclusion in the Market Investable Equity Universe if the securities: Are suspended on the Price Cutoff Date (as defined in section 3.1.9) of the Index Review Have been suspended for 50 consecutive business days or more in the past 12 months 5F6 Only one listing per security may be included in the Market Investable Equity Universe. In instances when a security has two or more eligible listings that meet the above liquidity requirements, then the following priority rules are used to determine which listing will be used for potential inclusion of the security in the Market Investable Equity Universe: Local listing6F7 Foreign listing in the same geographical region 7F8 Foreign listing in a different geographical region 8F9. 11 Notes on ATVR calculation: Trading volumes and prices for liquidity computation will only be captured from eligible exchange, including USA and Canada. In general, MSCI uses free float-adjusted security market capitalization after the application of any relevant adjustment factors (e.g. adjustment factors applied due to low foreign room, Liquidity Adjustment Factors). - ATVR values used in the regular Index Reviews as well as the relevant thresholds are not rounded. In some cases of FIF changes due to significant FIF corrections, regulatory changes in Foreign Ownership Limits or methodology changes, MSCI may adjust ATVR values by applying the updated FIF during the relevant ATVR calculation period. Updated: In addition to the ATVR and Frequency of Trading requirements, securities in the MSCI China Equity Universe will not be eligible for inclusion in the Market Investable Equity Universe if the securities: Are suspended on the Price Cutoff Date (as defined in section 3.1.9) of the Index Review Have been suspended for 50 consecutive business days or more in the past 12 months6 Only one listing per security may be included in the Market Investable Equity Universe. In instances when a security has two or more eligible listings that meet the above liquidity requirements, then the following priority rules are used to determine which listing will be used for potential inclusion of the security in the Market Investable Equity Universe: Local listing7 Foreign listing in the same geographical region 8 Foreign listing in a different geographical region 9. 11 Notes on ATVR calculation: - Trading volumes and prices for liquidity computation will only be captured from eligible exchange, including USA and Canada. In general, MSCI uses free float-adjusted security market capitalization after the application of any relevant adjustment factors (e.g. adjustment factors applied due to low foreign room, Liquidity Adjustment Factors). ATVR values used in the regular Index Reviews as well as the relevant thresholds are not rounded. - In some cases of FIF changes due to significant FIF corrections, regulatory changes in Foreign Ownership Limits or methodology changes, MSCI may adjust ATVR values by applying the updated FIF during the relevant ATVR calculation period.

MSCI ACWI: The methodology adds ongoing event rules for MSCI Southbound Indexes. It prohibits additions between index reviews, requires simultaneous deletion when constituents are removed from MSCI China or MSCI Hong Kong Indexes, and introduces daily Stock Connect eligibility monitoring with deletion after two days' notice, excluding market holidays. It also specifies deferral when an implementation date is affected by a market holiday. (Major)

2026-10-03T00:00:00Z

The methodology adds ongoing event rules for MSCI Southbound Indexes. It prohibits additions between index reviews, requires simultaneous deletion when constituents are removed from MSCI China or MSCI Hong Kong Indexes, and introduces daily Stock Connect eligibility monitoring with deletion after two days' notice, excluding market holidays. It also specifies deferral when an implementation date is affected by a market holiday. Updated: As the Stock Connect Program eligibility information may not be available at the time of listing of a new security, the MSCI Southbound Indexes do not allow additions between two Index Reviews. Deletions from the MSCI China and MSCI Hong Kong Indexes are also deleted simultaneously from the MSCI Southbound Indexes. Additionally, Stock Connect Program eligibility is also reviewed daily for existing index constituents. Existing index constituents that are no longer eligible for both buying and selling on the Southbound Trading of the Stock Connect Program are deleted from the MSCI Southbound Indexes by giving two days’ notice, excluding market holidays. Where the implementation date coincides with a market holiday, the deletion effective date is deferred until it is not immediately preceded by a market holiday. More details relating to the handling of specific corporate event types can be found in the MSCI Corporate Events Methodology book available at: https://www.msci.com/index methodology.

MSCI ACWI: The updated methodology adds an Index Maintenance rule for MSCI Southbound Indexes. Constituents are refreshed at each Index Review based on MSCI China Indexes, MSCI Hong Kong Indexes, and the Hong Kong listing of HSBC that are buyable and sellable through Stock Connect Southbound Trading, with eligibility determined nine business days before the review effective date. (Major)

2026-10-03T00:00:00Z

The updated methodology adds an Index Maintenance rule for MSCI Southbound Indexes. Constituents are refreshed at each Index Review based on MSCI China Indexes, MSCI Hong Kong Indexes, and the Hong Kong listing of HSBC that are buyable and sellable through Stock Connect Southbound Trading, with eligibility determined nine business days before the review effective date. Updated: The constituents of the MSCI Southbound Indexes are updated at each Index Review to include constituents of the MSCI China Indexes, the MSCI Hong Kong Indexes and the Hong Kong listing of HSBC that are available for both buying and selling through the Southbound Trading of the Stock Connect Program. This determination is made nine business days before the Index Review effective date.

MSCI ACWI: The updated document adds an index construction rule for the MSCI Southbound Indexes. It defines the selection set as all constituents of the MSCI China Indexes, MSCI Hong Kong Indexes, and the Hong Kong listing of HSBC that are available for both buying and selling through Stock Connect Southbound Trading. (Minor)

2026-10-03T00:00:00Z

The updated document adds an index construction rule for the MSCI Southbound Indexes. It defines the selection set as all constituents of the MSCI China Indexes, MSCI Hong Kong Indexes, and the Hong Kong listing of HSBC that are available for both buying and selling through Stock Connect Southbound Trading. Updated: The MSCI Southbound Indexes select all constituents from the MSCI China Indexes, the MSCI Hong Kong Indexes and the Hong Kong listing of HSBC that are available for both buying and selling through the Southbound Trading of the Stock Connect Program.

MSCI ACWI: A new appendix introduces the MSCI Southbound Indexes and defines their high-level objective as measuring securities available through Southbound Trading under the Stock Connect Program. The provided text does not add specific eligibility, selection, weighting, or calculation rules. (Minor)

2026-10-03T00:00:00Z

A new appendix introduces the MSCI Southbound Indexes and defines their high-level objective as measuring securities available through Southbound Trading under the Stock Connect Program. The provided text does not add specific eligibility, selection, weighting, or calculation rules. Updated: The MSCI Southbound Indexes aim to measure the performance of the securities available via the Southbound Trading of the Stock Connect Program.

MSCI ACWI: The text only changes the formatting of footnote/reference number 67 in the phrase "MSCI China A Indexes," inserting a space before the number. No index methodology rule, eligibility condition, calculation, or index family description changed. (Editorial)

2026-10-03T00:00:00Z

The text only changes the formatting of footnote/reference number 67 in the phrase "MSCI China A Indexes," inserting a space before the number. No index methodology rule, eligibility condition, calculation, or index family description changed. Previous: The MSCI China A Indexes63F67 and the MSCI China A RMB Indexes are designed to represent the performance of the China A shares portion of the MSCI China Index. Updated: The MSCI China A Indexes 67 and the MSCI China A RMB Indexes are designed to represent the performance of the China A shares portion of the MSCI China Index.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-03T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Other cases of early inclusion of China A shares (for example but not limited to spin off, merger, acquisition) will only be considered for inclusion in the MSCI China Indexes - if the event involves an existing constituent of the index, - if the new security is assigned to the Large Cap or Mid Cap size-segment, - and if the Stock Connect eligibility of the security is announced on or before the day of MSCI sending “Confirmed” corporate event announcement for the relevant event. Updated: Other cases of early inclusion of China A shares (for example but not limited to spin off, merger, acquisition) will only be considered for inclusion in the MSCI China Indexes - if the event involves an existing constituent of the index, if the new security is assigned to the Large Cap or Mid Cap size-segment, and if the Stock Connect eligibility of the security is announced on or before the day of MSCI sending “Confirmed” corporate event announcement for the relevant event.

MSCI ACWI: The updated text only changes line wrapping and bullet placement. It also hyphenates “FIF-adjusted,” but the substantive Light Rebalancing requirements for adding non-current China A shares remain unchanged: the two 1.8x market-capitalization tests and Stock Connect eligibility. (Editorial)

2026-10-03T00:00:00Z

The updated text only changes line wrapping and bullet placement. It also hyphenates “FIF-adjusted,” but the substantive Light Rebalancing requirements for adding non-current China A shares remain unchanged: the two 1.8x market-capitalization tests and Stock Connect eligibility. Previous: During a Light Rebalancing, China A shares that are non-current constituents of the MSCI China Index must meet the following requirements to be added to the MSCI China Index: - 1.8x the Interim Market Size-Segment Cutoff in terms of company full market capitalization - 1.8x one-half times the Interim Market Size-Segment Cutoff in terms of security FIFadjusted market capitalization Stock Connect eligibility - Updated: During a Light Rebalancing, China A shares that are non-current constituents of the MSCI China Index must meet the following requirements to be added to the MSCI China Index: - 1.8x the Interim Market Size-Segment Cutoff in terms of company full market capitalization - 1.8x one-half times the Interim Market Size-Segment Cutoff in terms of security FIF- adjusted market capitalization - Stock Connect eligibility

MSCI ACWI: The update reformats the list of China A-share add-on investability requirements and separates the Small Cap exclusion into its own sentence. It does not alter the market-capitalization thresholds, FIF condition, Stock Connect eligibility requirements, review timing, or treatment of existing constituents. (Editorial)

2026-10-03T00:00:00Z

The update reformats the list of China A-share add-on investability requirements and separates the Small Cap exclusion into its own sentence. It does not alter the market-capitalization thresholds, FIF condition, Stock Connect eligibility requirements, review timing, or treatment of existing constituents. Previous: More specifically, during Index Reviews, China A shares that are non-current constituents of the MSCI China Index and assigned to the Large Cap or Mid Cap Size-Segments must meet the following requirements to be added to the MSCI China Index: 1.0x the Standard Cutoff in terms of company full market capitalization - - 0.5x the Standard Cutoff in terms of security FIF-adjusted market capitalization o Securities with FIF below 0.15 must meet 1.8x 0.5x the Standard Cutoff in terms of Security FIF-adjusted Market Capitalization - Stock Connect eligibility China A shares assigned to Small Cap Size-Segment will not be added to the MSCI China Indexes. Updated: More specifically, during Index Reviews, China A shares that are non-current constituents of the MSCI China Index and assigned to the Large Cap or Mid Cap Size-Segments must meet the following requirements to be added to the MSCI China Index: - 1.0x the Standard Cutoff in terms of company full market capitalization - 0.5x the Standard Cutoff in terms of security FIF-adjusted market capitalization Securities with FIF below 0.15 must meet 1.8x 0.5x the Standard Cutoff in terms of o Security FIF-adjusted Market Capitalization - Stock Connect eligibility China A shares assigned to Small Cap Size-Segment will not be added to the MSCI China Indexes.

MSCI ACWI: The substantive rule for calculating market size-segment cutoffs and assigning China A-share companies is unchanged. The only visible difference is the addition of the heading fragment "Segments" immediately before the first sentence, apparently from moving or reformatting the section. (Editorial)

2026-10-03T00:00:00Z

The substantive rule for calculating market size-segment cutoffs and assigning China A-share companies is unchanged. The only visible difference is the addition of the heading fragment "Segments" immediately before the first sentence, apparently from moving or reformatting the section. Previous: The Market Size-Segment Cutoffs and the Size-Segment allocation of companies are based on the integrated MSCI China Investable Equity Universe. Updated: Segments The Market Size-Segment Cutoffs and the Size-Segment allocation of companies are based on the integrated MSCI China Investable Equity Universe.

MSCI ACWI: The suspension-based exclusion rule is unchanged: newly eligible securities are excluded if suspended on the Price Cutoff date or suspended for at least 50 consecutive days during the past 12 months. The update only rearranges the bullet formatting and footnote spacing. (Editorial)

2026-10-03T00:00:00Z

The suspension-based exclusion rule is unchanged: newly eligible securities are excluded if suspended on the Price Cutoff date or suspended for at least 50 consecutive days during the past 12 months. The update only rearranges the bullet formatting and footnote spacing. Previous: In addition to the Investability Requirements described in section 2.2, MSCI will exclude newly eligible securities (securities that are not current constituents of the Investable Market Indexes) from the investable equity universe if the securities: Are suspended on the Price Cutoff date, or - - Have been suspended for at least 50 days consecutively in the past 12 months 62F66 Companies and securities are evaluated based on the integrated MSCI China Equity Universe. Updated: In addition to the Investability Requirements described in section 2.2, MSCI will exclude newly eligible securities (securities that are not current constituents of the Investable Market Indexes) from the investable equity universe if the securities: - - Are suspended on the Price Cutoff date, or Have been suspended for at least 50 days consecutively in the past 12 months66 Companies and securities are evaluated based on the integrated MSCI China Equity Universe.

MSCI ACWI: The current stated Equity Universe Minimum Size Requirement for Developed and Emerging Markets was updated from USD 507 million at the February 2026 Index Review to USD 537 million at the May 2026 Index Review. The Frontier Markets requirement remains USD 13 million, and the 99% cumulative free-float coverage methodology is unchanged. Other differences are footnote formatting/table layout changes. (Minor)

2026-10-03T00:00:00Z

The current stated Equity Universe Minimum Size Requirement for Developed and Emerging Markets was updated from USD 507 million at the February 2026 Index Review to USD 537 million at the May 2026 Index Review. The Frontier Markets requirement remains USD 13 million, and the 99% cumulative free-float coverage methodology is unchanged. Other differences are footnote formatting/table layout changes. Previous: First, the companies in the DM Equity Universe are sorted in descending order of full market capitalization and the cumulative coverage of the free float-adjusted market capitalization4F5 of the DM Equity Universe is calculated at each company. Cumulative Free Free Float- Float-Adjusted Full Market Adjusted Market Market Capitalization Capitalization Capitalization Rank of Company Country (USD millions) (USD millions) Coverage Company A a 400,000 400,000 1.29% 1 B a 360,000 360,000 2.45% 2 C a 275,000 250,000 3.26% 3 AD a 250,000 250,000 4.06% 4 AE b 240,000 190,000 4.68% 5 AF c 235,000 95,000 4.98% 6 GG a 230,000 230,000 5.73% 7 AH a 225,000 225,000 6.45% 8 AL d 210,000 210,000 7.13% 9 … … … … … … … … … … .. .. .. .. .. WWW f 1,000 250 98.99% 8,007 XYZ g 150 130 99.00% 8,008 YYY f 125 125 99.01% 8,009 ZZZZ f 100 100 99.01% 8,010 … … … … … Total 31,000,000 100.00% At the time of the February 2026 Index Review, the Equity Universe Minimum Size Requirement was USD 507 million for the Developed and Emerging Markets while it was USD 13 million for the Frontier Markets. Updated: First, the companies in the DM Equity Universe are sorted in descending order of full market capitalization and the cumulative coverage of the free float-adjusted market capitalization5 of the DM Equity Universe is calculated at each company. Cumulative Free Free Float- Float-Adjusted Full Market Adjusted Market Market Capitalization Capitalization Capitalization Rank of Company Country (USD millions) (USD millions) Coverage Company A 400,000 400,000 1.29% 1 a B a 360,000 360,000 2.45% 2 C a 275,000 250,000 3.26% 3 AD 250,000 250,000 4.06% 4 a AE b 240,000 190,000 4.68% 5 AF c 235,000 95,000 4.98% 6 GG a 230,000 230,000 5.73% 7 AH 225,000 225,000 6.45% 8 a AL d 210,000 210,000 7.13% 9 … … … … … … … … … … .. .. .. .. .. WWW f 1,000 250 98.99% 8,007 XYZ 150 130 99.00% 8,008 g YYY f 125 125 99.01% 8,009 ZZZZ f 100 100 99.01% 8,010 … … … … … Total 31,000,000 100.00% At the time of the May 2026 Index Review, the Equity Universe Minimum Size Requirement was USD 537 million for the Developed and Emerging Markets while it was USD 13 million for the Frontier Markets.

MSCI ACWI: The update only changes diagram placement/labeling and footnote formatting: the title is added to the first diagram line, diagram labels are repositioned, and “CDRs61F65” is rendered as “CDRs 65.” The substantive definition of the integrated MSCI China equity universe and exclusions for Small Cap A-shares and non-Stock Connect A-shares remain unchanged. (Editorial)

2026-10-03T00:00:00Z

The update only changes diagram placement/labeling and footnote formatting: the title is added to the first diagram line, diagram labels are repositioned, and “CDRs61F65” is rendered as “CDRs 65.” The substantive definition of the integrated MSCI China equity universe and exclusions for Small Cap A-shares and non-Stock Connect A-shares remain unchanged. Previous: -> A-shares, CDRs and B-shares listed in China China A Share component -> H-shares, Red-chips, P-chips listed in HK -> foreign listed companies MSCI China A MSCI China A Integrated MSCI China Investable MSCI China A (exclude Mid and Small Cap China A shares) International Inclusion Stock Connect Screen on China A shares Universe the integrated MSCI China Equity Universe comprised of A‐shares, CDRs61F65 and B‐shares Updated: Integrated MSCI China Equity Universe -> A-shares, CDRs and B-shares listed in China China A Share component -> H-shares, Red-chips, P-chips listed in HK -> foreign listed companies MSCI China A MSCI China A Integrated MSCI China Investable MSCI China A International (exclude Mid and Small Cap China A shares) Inclusion Universe Stock Connect Screen on China A shares the integrated MSCI China Equity Universe comprised of A‐shares, CDRs 65 and B‐shares

MSCI ACWI: The section titled “INTEGRATED MSCI CHINA EQUITY UNIVERSE” was present in the prior version’s outline at pages 128–133 but is absent from the updated version. No previous or updated section text or unified diff was provided, so the specific universe or eligibility rule removed cannot be identified from the supplied content. (Minor)

2026-10-03T00:00:00Z

The section titled “INTEGRATED MSCI CHINA EQUITY UNIVERSE” was present in the prior version’s outline at pages 128–133 but is absent from the updated version. No previous or updated section text or unified diff was provided, so the specific universe or eligibility rule removed cannot be identified from the supplied content.

MSCI ACWI: The update removes the apparent stray characters "60F" from the section-update note, changing "January 2020 60F64" to "January 2020 64." It does not alter any index maintenance rule, schedule, threshold, or methodology. (Editorial)

2026-10-03T00:00:00Z

The update removes the apparent stray characters "60F" from the section-update note, changing "January 2020 60F64" to "January 2020 64." It does not alter any index maintenance rule, schedule, threshold, or methodology. Previous: This section has been updated in January 2020 60F64. Updated: This section has been updated in January 2020 64.

MSCI ACWI: The update reformats the MSCI China Indexes offering matrix and normalizes footnote-link numbering. The substantive index descriptions, size segments, inclusion factors, CDR treatment, and exchange-rate treatment remain unchanged. (Editorial)

2026-10-03T00:00:00Z

The update reformats the MSCI China Indexes offering matrix and normalizes footnote-link numbering. The substantive index descriptions, size segments, inclusion factors, CDR treatment, and exchange-rate treatment remain unchanged. Previous: Share Class Domestic MSCI China Indexes P Connect Index Free Float Foreign B Shares H Shares Red Chips Size- Chips Listings A Shares CDR* eligible Listing Inclusion Inclusion Segment only Factor Factor Integrated China Equity Universe ✓ ✓ ✓ ✓ ✓ ✓ ✓ MSCI China All Shares Index L/M/S Onshore FIF ✓ MSCI China A International Index L/M/S Onshore FIF ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ MSCI China Indexes L/M Connect 20% FIF ✓ ✓ MSCI China A Inclusion Index L/M Connect FIF ✓ ✓ MSCI China A Inclusion RMB Index L/M Onshore FIF MSCI China A Index ✓ ✓ L/M Connect FIF ✓ ✓ MSCI China A RMB Index L/M Onshore FIF Domestic China A Shares Equity Universe ✓ MSCI China A Onshore Index L/M/S Onshore DIF * CDRs are generally subject to the same requirements as China A shares, including Stock Connect eligibility further described in Appendix on Index Maintenance of the MSCI China Indexes. For more details on the MSCI China All Shares and MSCI China A International Indexes, please refer to the MSCI China All Shares Indexes Methodology56F60. 60 Available on https://www.msci.com/index-methodology Following the inclusion of Mid Cap China A shares in the MSCI Emerging Markets Index in the November 2019 Index Review, the MSCI China A Indexes57F61 represent the performance of the China A shares portion of the MSCI China Index. The MSCI China A Inclusion Indexes58F62 represent the China A share portion of the MSCI China Index and are identical to the MSCI China A Indexes following the inclusion of Mid Cap China A shares in the MSCI Emerging Markets Index. In addition, MSCI will also continue to calculate the MSCI China A Onshore Indexes59F63 which are based on the Domestic Inclusion Factor (DIF) that is not subject to FOL and constructed only on the basis of the China A Equity Universe. Updated: Share Class Domestic MSCI China Indexes P Foreign Connect Index Free Float B Shares H Shares Red Chips Size- Chips Listings A Shares CDR* eligible Listing Inclusion Inclusion Segment only Factor Factor Integrated China Equity Universe MSCI China All Shares Index L/M/S Onshore FIF MSCI China A International Index L/M/S Onshore FIF MSCI China Indexes L/M Connect 20% FIF MSCI China A Inclusion Index L/M Connect FIF MSCI China A Inclusion RMB Index L/M Onshore FIF MSCI China A Index L/M Connect FIF MSCI China A RMB Index L/M Onshore FIF Domestic China A Shares Equity Universe MSCI China A Onshore Index L/M/S Onshore DIF * CDRs are generally subject to the same requirements as China A shares, including Stock Connect eligibility further described in Appendix on Index Maintenance of the MSCI China Indexes. For more details on the MSCI China All Shares and MSCI China A International Indexes, please refer to the MSCI China All Shares Indexes Methodology60. 60 Available on https://www.msci.com/index-methodology Following the inclusion of Mid Cap China A shares in the MSCI Emerging Markets Index in the November 2019 Index Review, the MSCI China A Indexes61 represent the performance of the China A shares portion of the MSCI China Index. The MSCI China A Inclusion Indexes62 represent the China A share portion of the MSCI China Index and are identical to the MSCI China A Indexes following the inclusion of Mid Cap China A shares in the MSCI Emerging Markets Index. In addition, MSCI will also continue to calculate the MSCI China A Onshore Indexes63 which are based on the Domestic Inclusion Factor (DIF) that is not subject to FOL and constructed only on the basis of the China A Equity Universe.

MSCI ACWI: The country list for MSCI Domestic Indexes based on the GIMI Methodology is unchanged. The update only corrects footnote/reference formatting by removing stray prefixes from the China and Australia markers. (Editorial)

2026-10-03T00:00:00Z

The country list for MSCI Domestic Indexes based on the GIMI Methodology is unchanged. The update only corrects footnote/reference formatting by removing stray prefixes from the China and Australia markers. Previous: Currently, MSCI Domestic Indexes based on the MSCI Global Investable Market Indexes Methodology are available for China54F58, India, GCC Countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates), Canada, Korea and Australia55F59. Updated: Currently, MSCI Domestic Indexes based on the MSCI Global Investable Market Indexes Methodology are available for China58, India, GCC Countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates), Canada, Korea and Australia59.

MSCI ACWI: The updated section adds the stray heading word "Indexes" immediately before the existing first sentence. There is no change to the NOS calculation, DR ratio treatment, or FIF rule. (Editorial)

2026-10-03T00:00:00Z

The updated section adds the stray heading word "Indexes" immediately before the existing first sentence. There is no change to the NOS calculation, DR ratio treatment, or FIF rule. Previous: The NOS of the DRs in the MSCI DR Indexes is based on the maximum DRs that could be issued by dividing the number of shares of the Parent Index by the DR ratio (ratio between the common shares and the DRs). Updated: Indexes The NOS of the DRs in the MSCI DR Indexes is based on the maximum DRs that could be issued by dividing the number of shares of the Parent Index by the DR ratio (ratio between the common shares and the DRs).

MSCI ACWI: The updated text only prepends the fragment "and Ranges" to the opening sentence in Appendix X. The substantive statement that Global Minimum Size References and ranges are calculated daily remains unchanged. (Editorial)

2026-10-03T00:00:00Z

The updated text only prepends the fragment "and Ranges" to the opening sentence in Appendix X. The substantive statement that Global Minimum Size References and ranges are calculated daily remains unchanged. Previous: As markets evolve due to events and price performance, the Global Minimum Size Reference and ranges are calculated on a daily basis using the following general principles. Updated: and Ranges As markets evolve due to events and price performance, the Global Minimum Size Reference and ranges are calculated on a daily basis using the following general principles.

MSCI ACWI: The substantive trading-suspension rules are unchanged. The update only adds the stray heading/text fragment "Reviews" at the beginning of the paragraph and renumbers internal footnote references, without changing postponement, cancellation, or re-evaluation treatment. (Editorial)

2026-10-03T00:00:00Z

The substantive trading-suspension rules are unchanged. The update only adds the stray heading/text fragment "Reviews" at the beginning of the paragraph and renumbers internal footnote references, without changing postponement, cancellation, or re-evaluation treatment. Previous: MSCI will postpone the implementation of Index Review changes for IMI constituents, as well as Micro Cap constituents, when the affected securities are suspended51F54 on the day prior to the effective implementation date52F55 of the Index Review. Additions of Chinese securities to all MSCI Indexes53F56 (including pro forma MSCI China Indexes, MSCI China A Inclusion Indexes, MSCI China All Shares Indexes and MSCI China A Onshore Indexes) will be cancelled instead of postponed if the securities are suspended on the day prior to the effective implementation of the Index Review. Updated: Reviews MSCI will postpone the implementation of Index Review changes for IMI constituents, as well as Micro Cap constituents, when the affected securities are suspended54 on the day prior to the effective implementation date55 of the Index Review. Additions of Chinese securities to all MSCI Indexes56 (including pro forma MSCI China Indexes, MSCI China A Inclusion Indexes, MSCI China All Shares Indexes and MSCI China A Onshore Indexes) will be cancelled instead of postponed if the securities are suspended on the day prior to the effective implementation of the Index Review.

MSCI ACWI: The provided updated excerpt adds only the heading-like text "Market Closures during Index Reviews." No substantive index methodology rule, threshold, trigger, or procedure is visible in the supplied change. (Editorial)

2026-10-03T00:00:00Z

The provided updated excerpt adds only the heading-like text "Market Closures during Index Reviews." No substantive index methodology rule, threshold, trigger, or procedure is visible in the supplied change. Updated: Market Closures during Index Reviews

MSCI ACWI: The substantive liquidity-retention rules are unchanged. The update only adds the word “Rebalancings” at the start of the excerpt and removes obsolete cross-reference markers (e.g., “48F,” “49F,” “50F”), leaving the displayed footnote numbers and all thresholds unchanged. (Editorial)

2026-10-03T00:00:00Z

The substantive liquidity-retention rules are unchanged. The update only adds the word “Rebalancings” at the start of the excerpt and removes obsolete cross-reference markers (e.g., “48F,” “49F,” “50F”), leaving the displayed footnote numbers and all thresholds unchanged. Previous: Existing constituents of the Investable Market Indexes can remain in the Investable Market Indexes only if: The 3-month ATVR and Frequency of Trading are at least 5% and 80% respectively for Developed Markets The 3-month ATVR and Frequency of Trading are at least 5% and 70% respectively for Emerging Markets If the listing used for an existing constituent no longer meets the above liquidity requirements, other eligible listings that do meet such liquidity requirements will be used to represent the security in the Market Investable Equity Universe. If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing48F51 Foreign listing in the same geographical region 49F52 Foreign listing in a different geographical region 50F53 If an existing constituent of a Standard Index in Emerging Markets fails to meet the liquidity requirements, but has a weight of more than 10% in the respective country index and its free float adjusted market capitalization is above 0.5 times the Global Minimum Size Reference for Emerging Markets, then such constituent will remain in the index. Updated: Rebalancings Existing constituents of the Investable Market Indexes can remain in the Investable Market Indexes only if: The 3-month ATVR and Frequency of Trading are at least 5% and 80% respectively for Developed Markets The 3-month ATVR and Frequency of Trading are at least 5% and 70% respectively for Emerging Markets If the listing used for an existing constituent no longer meets the above liquidity requirements, other eligible listings that do meet such liquidity requirements will be used to represent the security in the Market Investable Equity Universe. If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing51 Foreign listing in the same geographical region 52 Foreign listing in a different geographical region 53 If an existing constituent of a Standard Index in Emerging Markets fails to meet the liquidity requirements, but has a weight of more than 10% in the respective country index and its free float adjusted market capitalization is above 0.5 times the Global Minimum Size Reference for Emerging Markets, then such constituent will remain in the index.

MSCI ACWI: The update only changes the formatting of footnote reference markers in the first paragraph, removing artifacts such as spaces and “F” around references 2, 3, and 4. The eligibility rules for listed equities, REITs, Canadian income trusts, U.S. structures, mutual funds, ETFs, derivatives, investment trusts, preferred shares, and stapled securities are unchanged. (Editorial)

2026-10-03T00:00:00Z

The update only changes the formatting of footnote reference markers in the first paragraph, removing artifacts such as spaces and “F” around references 2, 3, and 4. The eligibility rules for listed equities, REITs, Canadian income trusts, U.S. structures, mutual funds, ETFs, derivatives, investment trusts, preferred shares, and stapled securities are unchanged. Previous: All listed equity securities, including Real Estate Investment Trusts (REITs) 1F2 and certain income trusts listed in Canada2F3 are eligible for inclusion in the Equity Universe. Conversely, mutual funds, ETFs, equity derivatives, and most investment trusts are not eligible for inclusion in the Equity Universe. 3F4 Updated: All listed equity securities, including Real Estate Investment Trusts (REITs)2 and certain income trusts listed in Canada3 are eligible for inclusion in the Equity Universe. Conversely, mutual funds, ETFs, equity derivatives, and most investment trusts are not eligible for inclusion in the Equity Universe.4

MSCI ACWI: The updated section adds the heading/label “Light Rebalancings” immediately before the existing eligibility paragraph. No eligibility thresholds, timing rules, assignment criteria, or treatment of IPOs, FOLs, or when-issued trading were changed. (Editorial)

2026-10-03T00:00:00Z

The updated section adds the heading/label “Light Rebalancings” immediately before the existing eligibility paragraph. No eligibility thresholds, timing rules, assignment criteria, or treatment of IPOs, FOLs, or when-issued trading were changed. Previous: Securities that are currently not constituents of the Investable Market Indexes and that meet the investability screens described in Sub-section 2.2 (with the exception of the Minimum Length of Trading Requirement), including large IPOs that were not added earlier, and in addition meet the requirements listed below, are added to the Standard Index: A full market capitalization that exceeds 1.8 times the Interim Market Size-Segment Cutoff for the Standard Size-Segment A free float-adjusted market capitalization that exceeds 1.8 times one-half the Interim Market Size-Segment Cutoff for the Standard Size-Segment Securities that exhibit extreme price increase are not eligible for inclusion into the Standard Indexes. Updated: Light Rebalancings Securities that are currently not constituents of the Investable Market Indexes and that meet the investability screens described in Sub-section 2.2 (with the exception of the Minimum Length of Trading Requirement), including large IPOs that were not added earlier, and in addition meet the requirements listed below, are added to the Standard Index: A full market capitalization that exceeds 1.8 times the Interim Market Size-Segment Cutoff for the Standard Size-Segment A free float-adjusted market capitalization that exceeds 1.8 times one-half the Interim Market Size-Segment Cutoff for the Standard Size-Segment Securities that exhibit extreme price increase are not eligible for inclusion into the Standard Indexes.

MSCI ACWI: The updated section makes only formatting and footnote-reference corrections in the foreign-room adjustment discussion. The adjustment-factor value remains zero when foreign room falls below 3.75%; no eligibility, migration, review-timing, or weighting rule changes. (Editorial)

2026-10-03T00:00:00Z

The updated section makes only formatting and footnote-reference corrections in the foreign-room adjustment discussion. The adjustment-factor value remains zero when foreign room falls below 3.75%; no eligibility, migration, review-timing, or weighting rule changes. Previous: 0.25 0 Current adjustment factor = 0.5 1 0.25 0 If the foreign room of an existing constituent decreases below 3.75%, then the adjustment factor equals 046F49. During the Index Review, for any existing IMI constituents whose weight is decreased as a result of a change in the adjustment factor due to low foreign room, MSCI will continue to monitor any potential increased foreign room due to an increase in FOL 47F50 until five business days before the effective date of that Index Review. Updated: 0.25 0 Current adjustment factor = 0.5 1 0.25 0 If the foreign room of an existing constituent decreases below 3.75%, then the adjustment factor equals 0 49. During the Index Review, for any existing IMI constituents whose weight is decreased as a result of a change in the adjustment factor due to low foreign room, MSCI will continue to monitor any potential increased foreign room due to an increase in FOL50 until five business days before the effective date of that Index Review.

MSCI ACWI: The market monitoring rules are substantively unchanged. The update reformats the previously compressed paragraph into bullet/line breaks and preserves the 10-business-day monitoring period, liquidity thresholds, volatility threshold, and 20% exchange-closure impact condition. (Editorial)

2026-10-03T00:00:00Z

The market monitoring rules are substantively unchanged. The update reformats the previously compressed paragraph into bullet/line breaks and preserves the 10-business-day monitoring period, liquidity thresholds, volatility threshold, and 20% exchange-closure impact condition. Previous: MSCI sets the last ten business days of the month prior to the announcement date of an Index Review as the “market monitoring period.” If within the “market monitoring period”, one of the following two conditions related to the Market Liquidity and Market Functioning pillars of the Market Monitoring Framework is met, a review by the relevant MSCI Index Committee(s) whether or not to switch to a “light rebalancing” would be triggered: Market Liquidity, for any 3 days within the “market monitoring period” - MSCI ACWI-weighted bid-ask spread, measured as index market capitalizationo weighted bid-ask spread ( [ask-bid] / ask )47, breaching 0.19% AND o MSCI ACWI volatility, measured as the annualized standard deviation48 of the daily o returns of the MSCI ACWI over the past 10 business days, breaching 0.55 - OR - Market Functioning Unexpected full day or partial stock exchange closures impacting 20% of MSCI o ACWI constituents cumulatively over the “market monitoring period” Updated: MSCI sets the last ten business days of the month prior to the announcement date of an Index Review as the “market monitoring period.” If within the “market monitoring period”, one of the following two conditions related to the Market Liquidity and Market Functioning pillars of the Market Monitoring Framework is met, a review by the relevant MSCI Index Committee(s) whether or not to switch to a “light rebalancing” would be triggered: - Market Liquidity, for any 3 days within the “market monitoring period” o MSCI ACWI-weighted bid-ask spread, measured as index market capitalizationweighted bid-ask spread ( [ask-bid] / ask )47, breaching 0.19% AND o MSCI ACWI volatility, measured as the annualized standard deviation48 of the daily o returns of the MSCI ACWI over the past 10 business days, breaching 0.55 - OR - Market Functioning Unexpected full day or partial stock exchange closures impacting 20% of MSCI o ACWI constituents cumulatively over the “market monitoring period”

MSCI ACWI: The updated document adds the heading text “Switch to a Light Rebalancing under Conditions of Market Stress”; the supplied previous text is blank. No methodology rule, threshold, trigger, schedule, or calculation requirement is included in the changed passage. (Editorial)

2026-10-03T00:00:00Z

The updated document adds the heading text “Switch to a Light Rebalancing under Conditions of Market Stress”; the supplied previous text is blank. No methodology rule, threshold, trigger, schedule, or calculation requirement is included in the changed passage. Updated: Switch to a Light Rebalancing under Conditions of Market Stress

MSCI ACWI: The updated section adds the stray word "Trading" immediately before the sentence beginning "Starting from the May 2026 Index Review." No rule, formula, timing, or affected-security condition changes. (Editorial)

2026-10-03T00:00:00Z

The updated section adds the stray word "Trading" immediately before the sentence beginning "Starting from the May 2026 Index Review." No rule, formula, timing, or affected-security condition changes. Previous: Starting from the May 2026 Index Review, MSCI will apply the below approach to calculate the Foreign Inclusion Factor (FIF) for Depository Receipts (DRs) where underlying shares are not available for trading. Updated: Trading Starting from the May 2026 Index Review, MSCI will apply the below approach to calculate the Foreign Inclusion Factor (FIF) for Depository Receipts (DRs) where underlying shares are not available for trading.

MSCI ACWI: The section’s substantive NVDR rules are unchanged. The update only normalizes footnote markers, removing the duplicated/stray footnote-number format such as “44F44” and “45F45” in favor of “44” and “45”. (Editorial)

2026-10-03T00:00:00Z

The section’s substantive NVDR rules are unchanged. The update only normalizes footnote markers, removing the duplicated/stray footnote-number format such as “44F44” and “45F45” in favor of “44” and “45”. Previous: However, there is a limit on the amount of NVDRs that may be issued for financial institutions 44F44 (generally set at 25%). The company full market capitalization is calculated based on the price45F45 of the Local Line. Updated: However, there is a limit on the amount of NVDRs that may be issued for financial institutions44 (generally set at 25%). The company full market capitalization is calculated based on the price45 of the Local Line.

MSCI ACWI: The updated section inserts the word "Issues" before the opening sentence. There is no change to the eligibility rule, thresholds, deletion timing, review process, or 12-month re-addition restriction for Hong Kong-listed securities with high shareholding concentration issues. (Editorial)

2026-10-03T00:00:00Z

The updated section inserts the word "Issues" before the opening sentence. There is no change to the eligibility rule, thresholds, deletion timing, review process, or 12-month re-addition restriction for Hong Kong-listed securities with high shareholding concentration issues. Previous: Securities of companies included on the Hong Kong Securities and Futures Commission (SFC) high shareholding concentration notices are not eligible for inclusion in the MSCI GIMI. Updated: Issues Securities of companies included on the Hong Kong Securities and Futures Commission (SFC) high shareholding concentration notices are not eligible for inclusion in the MSCI GIMI.

MSCI ACWI: The updated section only reformats the presentation of the FOL rounding rule, corrects a duplicated footnote marker, and adds a line break before the foreign-room market list. No free-float rounding thresholds, LIF/FIF rules, monitored markets, or index methodology requirements changed. (Editorial)

2026-10-03T00:00:00Z

The updated section only reformats the presentation of the FOL rounding rule, corrects a duplicated footnote marker, and adds a line break before the foreign-room market list. No free-float rounding thresholds, LIF/FIF rules, monitored markets, or index methodology requirements changed. Previous: - Rounded to the closest 0.1%, if the free float is less than 5% FOL rounded to the closest 0.1%. Therefore, where deemed necessary, a LIF will be determined and applied based on an extensive, case-by-case analysis 43F43. Eligible Markets Country Name AUSTRALIA Developed Markets (DM) JAPAN CHINA INDIA INDONESIA KOREA PHILIPPINES Emerging Markets (EM) QATAR SAUDI ARABIA TAIWAN THAILAND* UNITED ARAB EMIRATES Updated: - Rounded to the closest 0.1%, if the free float is less than 5% FOL rounded to the closest 0.1%. Therefore, where deemed necessary, a LIF will be determined and applied based on an extensive, case-by-case analysis 43. Eligible Markets Country Name AUSTRALIA Developed Markets (DM) JAPAN CHINA INDIA INDONESIA KOREA PHILIPPINES Emerging Markets (EM) QATAR SAUDI ARABIA TAIWAN THAILAND* UNITED ARAB EMIRATES

MSCI ACWI: The update adds introductory wording describing the free-float workflow: defining free float, assigning a Foreign Inclusion Factor (FIF), calculating free float-adjusted market capitalization, and using that market capitalization for index weights. The substantive methodology paragraph on estimating and classifying free float is unchanged. (Editorial)

2026-10-03T00:00:00Z

The update adds introductory wording describing the free-float workflow: defining free float, assigning a Foreign Inclusion Factor (FIF), calculating free float-adjusted market capitalization, and using that market capitalization for index weights. The substantive methodology paragraph on estimating and classifying free float is unchanged. Previous: MSCI’s estimation of free float is based solely on publicly available shareholder information. Updated: MSCI’s definition of free float Assigning a free float-adjustment factor to each security (Foreign Inclusion Factor or FIF) Calculating the free float-adjusted market capitalization of each security The free float-adjusted market capitalization is used to calculate the weights of the securities in the indexes. Defining and Estimating Free Float MSCI’s estimation of free float is based solely on publicly available shareholder information.

MSCI ACWI: The opening description of Appendix VI has been shortened by removing the explanatory list of free-float adjustment steps. No replacement rule, threshold, formula, or procedural requirement is provided in the updated passage. (Editorial)

2026-10-03T00:00:00Z

The opening description of Appendix VI has been shortened by removing the explanatory list of free-float adjustment steps. No replacement rule, threshold, formula, or procedural requirement is provided in the updated passage. Previous: MSCI calculates the free float-adjusted market capitalization of each security in the equity index universe. The process of free float-adjusting market capitalization involves: Defining and estimating the free float available to foreign investors for each security, using MSCI’s definition of free float Assigning a free float-adjustment factor to each security (Foreign Inclusion Factor or FIF) Calculating the free float-adjusted market capitalization of each security The free float-adjusted market capitalization is used to calculate the weights of the securities in the indexes. Updated: MSCI calculates the free float-adjusted market capitalization of each security in the equity index universe. The process of free float-adjusting market capitalization involves:

MSCI ACWI: The wording changes "Market0F1" to "Market1" in the introductory statement that indexes are constructed and maintained at the individual market level. No index construction rule, threshold, process, or affected security set changes. (Editorial)

2026-10-03T00:00:00Z

The wording changes "Market0F1" to "Market1" in the introductory statement that indexes are constructed and maintained at the individual market level. No index construction rule, threshold, process, or affected security set changes. Previous: The MSCI Global Investable Markets Indexes are constructed and maintained at an individual Market0F1 level. Updated: The MSCI Global Investable Markets Indexes are constructed and maintained at an individual Market1 level.

MSCI ACWI: The updated section adds a standalone heading/title line, “U.S. Executive Order 13959,” before the existing appendix text. The substantive treatment of sanctioned securities, including ineligibility, deletion, zero adjustment factor, and universe treatment, is unchanged. (Editorial)

2026-10-03T00:00:00Z

The updated section adds a standalone heading/title line, “U.S. Executive Order 13959,” before the existing appendix text. The substantive treatment of sanctioned securities, including ineligibility, deletion, zero adjustment factor, and universe treatment, is unchanged. Updated: U.S. Executive Order 13959

MSCI ACWI: The foreign-listing materiality thresholds themselves are unchanged, but the document updates the illustrative two-review timing example from February/August 2026 to May/November 2026. It also updates the reported review at which no additional markets met the requirement from February 2026 to May 2026; an apparent bullet reformatting does not alter the 5% and 0.05% tests. (Major)

2026-10-03T00:00:00Z

The foreign-listing materiality thresholds themselves are unchanged, but the document updates the illustrative two-review timing example from February/August 2026 to May/November 2026. It also updates the reported review at which no additional markets met the requirement from February 2026 to May 2026; an apparent bullet reformatting does not alter the 5% and 0.05% tests. Previous: Calculate the aggregate free float-adjusted market capitalization of all such securities This aggregate market capitalization of securities represented by foreign listings should represent at least: - 5% of the free float-adjusted market capitalization of the relevant MSCI Country IMI 42F42, and - 0.05% of the free float-adjusted market capitalization of the MSCI ACWI IMI. For example, foreign listings will become eligible for a country at the August 2026 Index Review once that country meets the Foreign Listing Materiality Requirement at the February 2026 Index Review. At the February 2026 Index Review, no additional markets met the Foreign Listing Materiality Requirement. Updated: Calculate the aggregate free float-adjusted market capitalization of all such securities This aggregate market capitalization of securities represented by foreign listings should represent at least: - - 5% of the free float-adjusted market capitalization of the relevant MSCI Country IMI 42, and 0.05% of the free float-adjusted market capitalization of the MSCI ACWI IMI. For example, foreign listings will become eligible for a country at the November 2026 Index Review once that country meets the Foreign Listing Materiality Requirement at the May 2026 Index Review. At the May 2026 Index Review, no additional markets met the Foreign Listing Materiality Requirement.

MSCI ACWI: The update only changes footnote-reference formatting in the Country Specific Cases section: internal marker notation such as "38F38" and "39F39" is simplified to visible footnote numbers, with a space added before one reference. No country-classification, eligibility, or universe rule changed. (Editorial)

2026-10-03T00:00:00Z

The update only changes footnote-reference formatting in the Country Specific Cases section: internal marker notation such as "38F38" and "39F39" is simplified to visible footnote numbers, with a space added before one reference. No country-classification, eligibility, or universe rule changed. Previous: China: The MSCI China universe includes companies incorporated in Mainland China and listed in the form of A shares38F38, CDRs or B shares on the Shanghai Stock Exchange (in US$) or Shenzhen Stock Exchange (in HK$), or H shares on the Hong Kong Stock Exchange (in HK$). However, such securities listed in the US and resulting from reverse mergers39F39 are not eligible for index inclusion. 40F40 Greece: The MSCI Greece universe includes companies incorporated in Cyprus that are listed on the Athens Exchange.41F41 Countries subject to economic sanctions: MSCI does not cover certain countries for which significant economic sanctions are applied. Updated: China: The MSCI China universe includes companies incorporated in Mainland China and listed in the form of A shares38, CDRs or B shares on the Shanghai Stock Exchange (in US$) or Shenzhen Stock Exchange (in HK$), or H shares on the Hong Kong Stock Exchange (in HK$). However, such securities listed in the US and resulting from reverse mergers 39 are not eligible for index inclusion. 40 Greece: The MSCI Greece universe includes companies incorporated in Cyprus that are listed on the Athens Exchange.41 Countries subject to economic sanctions: MSCI does not cover certain countries for which significant economic sanctions are applied.

MSCI ACWI: The Markets Under Index Continuity disclosure changes the referenced index review from February 2026 to May 2026. The minimum constituent-count rules and listed affected markets remain unchanged. (Major)

2026-10-03T00:00:00Z

The Markets Under Index Continuity disclosure changes the referenced index review from February 2026 to May 2026. The minimum constituent-count rules and listed affected markets remain unchanged. Previous: The following table below shows those markets where after the application of the index maintenance methodology, the Standard Index contains less than the minimum number of constituents, and hence the index continuity rules have been applied to achieve the minimum number of constituents as part of the February 2026 Index Review. Updated: The following table below shows those markets where after the application of the index maintenance methodology, the Standard Index contains less than the minimum number of constituents, and hence the index continuity rules have been applied to achieve the minimum number of constituents as part of the May 2026 Index Review.

MSCI ACWI: MSCI updated the market-classification size thresholds used for Frontier, Emerging, and Developed Markets. Both full market capitalization and float market capitalization minimums increased in the entry and maintenance requirements, and the footnote identifies the thresholds as those in use for the May 2026 Index Review rather than the February 2026 Index Review. (Minor)

2026-10-03T00:00:00Z

MSCI updated the market-classification size thresholds used for Frontier, Emerging, and Developed Markets. Both full market capitalization and float market capitalization minimums increased in the entry and maintenance requirements, and the footnote identifies the thresholds as those in use for the May 2026 Index Review rather than the February 2026 Index Review. Previous: Criteria Frontier Emerging Developed A Economic Development Country GNI per capita 25% above the A.1 Sustainability of economic development No requirement No requirement World Bank high income threshold * for 3 consecutive years B Size and Liquidity Requirements B.1 Entry requirement Number of companies meeting the following Standard 1 3 5 Index criteria over each of the last 8 Index Reviews Company size (full market cap) ** USD 226 mm USD 3,800 mm USD 7,599 mm Security size (float market cap) ** USD 113 mm USD 1,900 mm USD 3,800 mm Security liquidity 2.5% ATVR 15% ATVR 20% ATVR B.2 Maintenance requirements Number of companies meeting the following Standard - 1 1 Index criteria Company size (full market cap) ** USD 226 mm USD 3,800 mm USD 7,599 mm Security size (float market cap) ** USD 113 mm USD 1,900 mm USD 3,800 mm Security liquidity 2.5% ATVR 15% ATVR 20% ATVR Minimum number of securities in the Market Investable 1 3 5 Equity Universe C Market Accessibility Criteria C.1 Openness to foreign ownership At least some Significant Very high C.2 Ease of capital inflows / outflows At least partial Significant Very high C.3 Efficiency of operational framework Modest Good and tested Very high C.4 Availability of investment instrument High High Unrestricted C.5 Stability of the institutional framework Modest Modest Very high * High income threshold: 2024 GNI per capita of USD 13,935 (World Bank, Atlas method) ** Minimum in use for the February 2026 Index Review, updated on a quarterly basis Updated: Criteria Frontier Emerging Developed A Economic Development Country GNI per capita 25% above the A.1 Sustainability of economic development No requirement No requirement World Bank high income threshold * for 3 consecutive years B Size and Liquidity Requirements B.1 Entry requirement Number of companies meeting the following Standard 1 3 5 Index criteria over each of the last 8 Index Reviews Company size (full market cap) ** USD 232 mm USD 3,937 mm USD 7,874 mm Security size (float market cap) ** USD 116 mm USD 1,969 mm USD 3,937 mm Security liquidity 2.5% ATVR 15% ATVR 20% ATVR B.2 Maintenance requirements Number of companies meeting the following Standard - 1 1 Index criteria Company size (full market cap) ** USD 232 mm USD 3,937 mm USD 7,874 mm Security size (float market cap) ** USD 116 mm USD 1,969 mm USD 3,937 mm Security liquidity 2.5% ATVR 15% ATVR 20% ATVR Minimum number of securities in the Market Investable 1 3 5 Equity Universe C Market Accessibility Criteria C.1 Openness to foreign ownership At least some Significant Very high C.2 Ease of capital inflows / outflows At least partial Significant Very high C.3 Efficiency of operational framework Modest Good and tested Very high C.4 Availability of investment instrument High High Unrestricted C.5 Stability of the institutional framework Modest Modest Very high * High income threshold: 2024 GNI per capita of USD 13,935 (World Bank, Atlas method) ** Minimum in use for the May 2026 Index Review, updated on a quarterly basis

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-03T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Country Name Stock Exchange Market Segment Eligibility of Foreign Listings ARGENTINA (10) Yes Free Market Banja Luka Stock Exchange Official Market BOSNIA HERZEGOVINA (1) - Free Market Sarajevo Stock Exchange Official Market Domestic Main Board BOTSWANA (2) Botswana Stock Exchange Yes Venture Capital Board BULGARIA (7) Bulgarian Stock Exchange Main Market - Main Market JAMAICA (2) Jamaica Stock Exchange Junior Market - Premium Board PALESTINE (3) Palestine Exchange - - PANAMA (8) Yes First Tier TRINIDAD AND TOBAGO (4) Trinidad and Tobago Stock Exchange Second Tier - Small and Medium Enterprises (12) PFTS Stock Exchange - UKRAINE (6) Yes Ukrainian Exchange - ZIMBABWE (5) Zimbabwe Stock Exchange (Harare) - - (1) Added as standalone market at the May 2010 Index Review (2) Added as standalone markets at the November 2008 Index Review (3) Added as standalone market at the May 2013 Index Review (4) Reclassified from Frontier Markets to standalone market at the May 2011 Index Review (5) Added as standalone markets at the November 2010 Index Review (6) Reclassified from Frontier Markets to standalone market at the August 2015 Index Review (7) Reclassified from Frontier Markets to standalone market at the August 2016 Index Review (8) Added as standalone market at the May 2017 Index Review, currently only US listed securities eligible (9) Added as standalone market at the May 2019 Index Review (10) Reclassified from Emerging Markets to standalone market at the November 2021 Index Review (11) Reclassified from Frontier Markets to standalone market at the February 2024 Index Review (12) Listings on this market segment are eligible for the MSCI Indexes as part of the August 2024 Index Review Updated: Country Name Stock Exchange Market Segment Eligibility of Foreign Listings ARGENTINA (10) Yes Free Market Banja Luka Stock Exchange Official Market BOSNIA HERZEGOVINA (1) - Free Market Sarajevo Stock Exchange Official Market Domestic Main Board BOTSWANA (2) Botswana Stock Exchange Yes Venture Capital Board BULGARIA (7) Bulgarian Stock Exchange Main Market - Main Market JAMAICA (2) Jamaica Stock Exchange Junior Market - Premium Board PALESTINE (3) Palestine Exchange - - PANAMA (8) Yes First Tier TRINIDAD AND TOBAGO (4) Trinidad and Tobago Stock Exchange - Second Tier Small and Medium Enterprises (12) PFTS Stock Exchange - UKRAINE (6) Yes Ukrainian Exchange - ZIMBABWE (5) Zimbabwe Stock Exchange (Harare) - - (1) Added as standalone market at the May 2010 Index Review (2) Added as standalone markets at the November 2008 Index Review (3) Added as standalone market at the May 2013 Index Review (4) Reclassified from Frontier Markets to standalone market at the May 2011 Index Review (5) Added as standalone markets at the November 2010 Index Review (6) Reclassified from Frontier Markets to standalone market at the August 2015 Index Review (7) Reclassified from Frontier Markets to standalone market at the August 2016 Index Review (8) Added as standalone market at the May 2017 Index Review, currently only US listed securities eligible (9) Added as standalone market at the May 2019 Index Review (10) Reclassified from Emerging Markets to standalone market at the November 2021 Index Review (11) Reclassified from Frontier Markets to standalone market at the February 2024 Index Review (12) Listings on this market segment are eligible for the MSCI Indexes as part of the August 2024 Index Review

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-03T00:00:00Z

Editorial change: wording only, no rule changed. Previous: CZECH REPUBLIC Prague Stock Exchange Prime Market - Growth Market Abu Dhabi Securities Exchange Main Market UNITED ARAB EMIRATES - Dubai Financial Market - Updated: CZECH REPUBLIC Prague Stock Exchange - Prime Market Growth Market Abu Dhabi Securities Exchange Main Market UNITED ARAB EMIRATES - Dubai Financial Market -

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-03T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Country Name Stock Exchange Market Segment Eligibility of Foreign Listings AUSTRALIA Australian Securities Exchange ASX Official Market - Prime Market AUSTRIA Vienna Stock Exchange - Standard Market Continuous Euronext Growth Market BELGIUM Euronext Brussels - Regulated Market Toronto Stock Exchange - CANADA - Cboe Canada (2) NEO-L Nasdaq Copenhagen Main Market DENMARK First North Growth Market - Nasdaq First North Growth Market – Denmark First North Premier Growth Market Nasdaq Helsinki Main Market FINLAND - First North Growth Market Nasdaq First North Growth Market – Finland First North Premier Growth Market Euronext Growth Market FRANCE Euronext Paris - Regulated Market Basic Board GERMANY Deutsche Börse Xetra EU Regulated market - Open Market Growth Enterprise Market HONG KONG Stock Exchange of Hong Kong Yes Main Board (3) Euronext Growth Market IRELAND Euronext Dublin - Regulated Market ISRAEL Tel Aviv Stock Exchange - Yes Euronext Growth Market Global Equity Market (1) ITALY Borsa Italiana - Regulated Market Market for Investment Vehicle (2) Growth Market Prime Market Tokyo Stock Exchange Standard Market JAPAN - Tokyo Pro (2) Main Market Nagoya Stock Exchange Next Market Premier Market NETHERLANDS Euronext Amsterdam Regulated Market Yes NEW ZEALAND New Zealand Stock Exchange Main Board - Euronext Expand NORWAY Euronext Oslo Børs Euronext Growth Market (2) - Regulated Market PORTUGAL Euronext Lisbon Regulated Market - Catalist SINGAPORE Singapore Exchange Yes Main Board Madrid Stock Exchange Mercado Continuo SPAIN Growth Companies - BME Growth SOCIMI Nasdaq Stockholm Main Market Nordic Growth Market Main Regulated Market Nordic SME SWEDEN (5) Yes First North Growth Market Nasdaq First North Growth Market – Sweden First North Premier Growth Market Spotlight Stock Exchange - Blue Chip Shares Mid-/Small-Cap Shares SIX Swiss Exchange Secondary Listing Shares SWITZERLAND Sparks Shares - Sponsored Foreign Shares (1) SME Main Market BX Swiss Sponsored Shares Admission Updated: Country Name Stock Exchange Market Segment Eligibility of Foreign Listings AUSTRALIA Australian Securities Exchange ASX Official Market - Prime Market AUSTRIA Vienna Stock Exchange - Standard Market Continuous Euronext Growth Market BELGIUM Euronext Brussels - Regulated Market Toronto Stock Exchange - CANADA - Cboe Canada (2) NEO-L Nasdaq Copenhagen Main Market DENMARK First North Growth Market - Nasdaq First North Growth Market – Denmark First North Premier Growth Market Nasdaq Helsinki Main Market FINLAND First North Growth Market - Nasdaq First North Growth Market – Finland First North Premier Growth Market Euronext Growth Market FRANCE Euronext Paris - Regulated Market Basic Board GERMANY Deutsche Börse Xetra - EU Regulated market Open Market Growth Enterprise Market HONG KONG Stock Exchange of Hong Kong Yes Main Board (3) Euronext Growth Market IRELAND Euronext Dublin - Regulated Market ISRAEL Tel Aviv Stock Exchange - Yes Euronext Growth Market Global Equity Market (1) ITALY Borsa Italiana - Regulated Market Market for Investment Vehicle (2) Growth Market Prime Market Tokyo Stock Exchange Standard Market JAPAN Tokyo Pro (2) - Main Market Nagoya Stock Exchange Next Market Premier Market NETHERLANDS Euronext Amsterdam Regulated Market Yes NEW ZEALAND New Zealand Stock Exchange Main Board - Euronext Expand NORWAY Euronext Oslo Børs Euronext Growth Market (2) - Regulated Market PORTUGAL Euronext Lisbon Regulated Market - Catalist SINGAPORE Singapore Exchange Yes Main Board Madrid Stock Exchange Mercado Continuo SPAIN Growth Companies - BME Growth SOCIMI Nasdaq Stockholm Main Market Nordic Growth Market Main Regulated Market Nordic SME SWEDEN (5) Yes First North Growth Market Nasdaq First North Growth Market – Sweden First North Premier Growth Market Spotlight Stock Exchange - Blue Chip Shares Mid-/Small-Cap Shares SIX Swiss Exchange Secondary Listing Shares SWITZERLAND Sparks Shares - Sponsored Foreign Shares (1) SME Main Market BX Swiss Sponsored Shares Admission

MSCI ACWI: The updated section content consists only of the word "Indexes"; no index methodology rule, threshold, or procedural requirement is introduced. The prior provided section text is empty, so the change appears to be formatting or heading-related content rather than a substantive methodology update. (Editorial)

2026-10-03T00:00:00Z

The updated section content consists only of the word "Indexes"; no index methodology rule, threshold, or procedural requirement is introduced. The prior provided section text is empty, so the change appears to be formatting or heading-related content rather than a substantive methodology update. Updated: Indexes

MSCI ACWI: The only change is formatting of the footnote markers in the listing-priority sentence. Markers such as “35F35” were changed to standard footnote references such as “35”; no liquidity rule, threshold, priority order, or treatment of constituents changed. (Editorial)

2026-10-03T00:00:00Z

The only change is formatting of the footnote markers in the listing-priority sentence. Markers such as “35F35” were changed to standard footnote references such as “35”; no liquidity rule, threshold, priority order, or treatment of constituents changed. Previous: If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing35F35 Foreign listing in the same geographical region 36F36 Foreign listing in a different geographical region 37F37. Updated: If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing35 Foreign listing in the same geographical region 36 Foreign listing in a different geographical region 37.

MSCI ACWI: The methodology book outline changes its stated last-update date from February 2026 to May 2026 and removes the running footer dated November 2025. The descriptions of the methodology sections and appendices are otherwise unchanged. (Editorial)

2026-10-03T00:00:00Z

The methodology book outline changes its stated last-update date from February 2026 to May 2026 and removes the running footer dated November 2025. The descriptions of the methodology sections and appendices are otherwise unchanged. Previous: This book was last updated in February 2026. MSCI Global Investable Market Indexes Methodology | November 2025 Updated: This book was last updated in May 2026.

MSCI ACWI: The updated section adds the stray heading fragment "Markets Indexes" immediately before the opening sentence. No index construction, eligibility, selection, weighting, review, or maintenance rule is changed. (Editorial)

2026-10-03T00:00:00Z

The updated section adds the stray heading fragment "Markets Indexes" immediately before the opening sentence. No index construction, eligibility, selection, weighting, review, or maintenance rule is changed. Previous: This section should be read in conjunction with the earlier Section 2 ‘Constructing the MSCI Global Investable Market Indexes’ and Section 3 ‘Maintaining the MSCI Global Investable Market Indexes’. Updated: Markets Indexes This section should be read in conjunction with the earlier Section 2 ‘Constructing the MSCI Global Investable Market Indexes’ and Section 3 ‘Maintaining the MSCI Global Investable Market Indexes’.

MSCI ACWI: The only change is a footnote/reference formatting correction: “34F34” is replaced by “34”, removing the stray “F” and adjacent spacing. No frontier-markets eligibility criteria or other substantive requirements changed. (Editorial)

2026-10-03T00:00:00Z

The only change is a footnote/reference formatting correction: “34F34” is replaced by “34”, removing the stray “F” and adjacent spacing. No frontier-markets eligibility criteria or other substantive requirements changed. Previous: MSCI starts by considering all equity markets not included in the MSCI Emerging Markets Index, that: demonstrate a relative openness to and accessibility for foreign investors are generally not considered as part of the developed markets universe 34F34 do not belong to countries undergoing a period of extreme economic (e.g., hyperinflation) or political instability (e.g., civil war) Updated: MSCI starts by considering all equity markets not included in the MSCI Emerging Markets Index, that: demonstrate a relative openness to and accessibility for foreign investors are generally not considered as part of the developed markets universe34 do not belong to countries undergoing a period of extreme economic (e.g., hyperinflation) or political instability (e.g., civil war)

MSCI ACWI: The updated section removes footnote 33, which specified a lower minimum float-adjusted market capitalization requirement when a Standard Index constituent has post-event FIF below 0.15. The remaining early-inclusion and spin-off rules are unchanged. (Major)

2026-10-03T00:00:00Z

The updated section removes footnote 33, which specified a lower minimum float-adjusted market capitalization requirement when a Standard Index constituent has post-event FIF below 0.15. The remaining early-inclusion and spin-off rules are unchanged. Previous: 33 If the Standard Index constituent has a FIF lower than 0.15 after the event, the minimum float-adjusted market capitalization requirement is 2/3rd of the 1.8 times one half of the Standard Index Interim Size-Segment Cutoff.

MSCI ACWI: The updated early-deletion section adds footnote 33 to the rule for Standard Index constituents whose FIF is already below 0.15 and decreases further. It specifies the applicable minimum float-adjusted market capitalization requirement after a corporate event as two-thirds of 1.8 times one-half of the Standard Index Interim Size-Segment Cutoff. Other early-deletion triggers are unchanged. (Major)

2026-10-03T00:00:00Z

The updated early-deletion section adds footnote 33 to the rule for Standard Index constituents whose FIF is already below 0.15 and decreases further. It specifies the applicable minimum float-adjusted market capitalization requirement after a corporate event as two-thirds of 1.8 times one-half of the Standard Index Interim Size-Segment Cutoff. Other early-deletion triggers are unchanged. Previous: Securities may also be considered for an early deletion due to a corporate event when: The Foreign Inclusion Factor (FIF) of the security decreases or is expected to decrease below 0.1533. Updated: Securities may also be considered for an early deletion due to a corporate event when: The Foreign Inclusion Factor (FIF) of the security decreases or is expected to decrease below 0.1533. 33 If the Standard Index constituent has a FIF lower than 0.15 after the event, the minimum float-adjusted market capitalization requirement is 2/3rd of the 1.8 times one half of the Standard Index Interim Size-Segment Cutoff.

MSCI ACWI: The updated section adds the phrase "Corporate Event" before the opening paragraph and relocates/restructures a row in the size-segment migration table. The apparent substantive wording change is that one pre-event Small Cap row now explicitly labels the condition as Small Cap and lists post-event Standard when float-adjusted capitalization is above 1.5 times the Standard cutoff. (Major)

2026-10-03T00:00:00Z

The updated section adds the phrase "Corporate Event" before the opening paragraph and relocates/restructures a row in the size-segment migration table. The apparent substantive wording change is that one pre-event Small Cap row now explicitly labels the condition as Small Cap and lists post-event Standard when float-adjusted capitalization is above 1.5 times the Standard cutoff. Previous: In order to reflect significant changes in the market capitalization of existing constituents in the Global Investable Market Indexes and in the World All Cap Indexes in a timely fashion while minimizing index turnover, the Size-Segment classification of a security is reviewed simultaneously with the event, if the market capitalization change implied by the event, including potential update in the number of shares for the security, is deemed significant. > 0.15 > 0.5* Standard Cutoff > 1.5*Standard Cutoff Standard < 0.15 >1.8 * 0.5 * Standard Cutoff < 1.5*Standard Cutoff & Small Cap > 0.15 < 0.5* Standard Cutoff Small Cap > Standard Cutoff Updated: Corporate Event In order to reflect significant changes in the market capitalization of existing constituents in the Global Investable Market Indexes and in the World All Cap Indexes in a timely fashion while minimizing index turnover, the Size-Segment classification of a security is reviewed simultaneously with the event, if the market capitalization change implied by the event, including potential update in the number of shares for the security, is deemed significant. > 0.15 > 0.5* Standard Cutoff Small Cap > 1.5*Standard Cutoff Standard < 0.15 >1.8 * 0.5 * Standard Cutoff < 1.5*Standard Cutoff & > 0.15 < 0.5* Standard Cutoff Small Cap > Standard Cutoff

MSCI ACWI: The substantive methodology is unchanged. The update removes a footnote/link artifact from “IPOs0F30” to read “IPOs30” and reformats the three bullet conditions for setting the Interim Market Size-Segment Cutoff. (Editorial)

2026-10-03T00:00:00Z

The substantive methodology is unchanged. The update removes a footnote/link artifact from “IPOs0F30” to read “IPOs30” and reformats the three bullet conditions for setting the Interim Market Size-Segment Cutoff. Previous: For the purpose of determining eligibility for early inclusion of securities, such as significant IPOs0F30, and/or assigning a company and its securities post a corporate event, e.g., mergers and spin-offs, to the appropriate Size-Segment Index an Interim Size-Segment Cutoff is used. The Interim Market Size-Segment Cutoff is set to: - The lower bound of the Global Minimum Size Range, if the Market Size-Segment Cutoff is below the lower bound. - The upper bound of the Global Minimum Size Range, if the Market Size-Segment Cutoff is above the upper bound. - The Market Size-Segment Cutoff, if it is within the Global Minimum Size Range. Updated: For the purpose of determining eligibility for early inclusion of securities, such as significant IPOs30, and/or assigning a company and its securities post a corporate event, e.g., mergers and spin-offs, to the appropriate Size-Segment Index an Interim Size-Segment Cutoff is used. The Interim Market Size-Segment Cutoff is set to: - - The lower bound of the Global Minimum Size Range, if the Market Size-Segment Cutoff is below the lower bound. The upper bound of the Global Minimum Size Range, if the Market Size-Segment Cutoff is above the upper bound. - The Market Size-Segment Cutoff, if it is within the Global Minimum Size Range.

MSCI ACWI: The updated section only changes line breaks, bullet formatting, spacing around footnote references, and removes internal footnote markers such as “F28/F29.” The substantive cutoff-date rules and all other methodology language remain unchanged. (Editorial)

2026-10-03T00:00:00Z

The updated section only changes line breaks, bullet formatting, spacing around footnote references, and removes internal footnote markers such as “F28/F29.” The substantive cutoff-date rules and all other methodology language remain unchanged. Previous: This is the relevant cutoff date for: - Data used to update the Equity Universe as per Sub-section 2.1: Defining the Equity Universe; - Data used for calculating the updated Equity Universe Minimum Size Requirement as per Sub-section 3.1.2.2: Updating the Equity Universe Minimum Size Requirement; Price Cutoff Date: any one of the last 10 business days28F28 of January for the February Index Review, of April for the May Index Review, of July for the August Index Review and of October for the November Index Review. This is the relevant cutoff date for: - Prices used for calculating market capitalization; Data used to update FIFs as per Sub-section 3.1.7: Index Review of changes in Foreign Inclusion Factors (FIFs); - - Data used to incorporate all foreign room changes. - Data used to update NOS as per Sub-section 3.1.8: Index Review of changes in Number of Shares (NOS). A business day is defined as a day from Monday to Friday where markets cumulatively constituting more than 80% of the MSCI All Countries World Index free float-adjusted market capitalization are expected to be open on the basis of a security’s country of listing29F29. Updated: This is the relevant cutoff date for: - Data used to update the Equity Universe as per Sub-section 2.1: Defining the Equity Universe; - Data used for calculating the updated Equity Universe Minimum Size Requirement as per Sub-section 3.1.2.2: Updating the Equity Universe Minimum Size Requirement; Price Cutoff Date: any one of the last 10 business days 28 of January for the February Index Review, of April for the May Index Review, of July for the August Index Review and of October for the November Index Review. This is the relevant cutoff date for: - - Prices used for calculating market capitalization; Data used to update FIFs as per Sub-section 3.1.7: Index Review of changes in Foreign Inclusion Factors (FIFs); - - Data used to incorporate all foreign room changes. Data used to update NOS as per Sub-section 3.1.8: Index Review of changes in Number of Shares (NOS). A business day is defined as a day from Monday to Friday where markets cumulatively constituting more than 80% of the MSCI All Countries World Index free float-adjusted market capitalization are expected to be open on the basis of a security’s country of listing29.

MSCI ACWI: The update corrects a typographical error in the FIF/DIF change threshold band: the range previously read “between 5% than 25%” and now correctly reads “between 5% and 25%.” No threshold, eligibility condition, review timing, or other index rule is changed. (Editorial)

2026-10-03T00:00:00Z

The update corrects a typographical error in the FIF/DIF change threshold band: the range previously read “between 5% than 25%” and now correctly reads “between 5% and 25%.” No threshold, eligibility condition, review timing, or other index rule is changed. Previous: All FIF changes are reflected for existing index constituents subject to the following: For securities with free float greater than 25%, FIF/DIF change is implemented only if the absolute change in free float compared to current index DIF is at least 2.5% For securities with free float between 5% than 25%, FIF/DIF change is implemented only if the absolute change in free float compared to current index DIF is at least 0.5% For securities with free float less than 5%, FIF/DIF change is implemented only if the absolute change in free float compared to current index DIF is at least 0.1% Updated: All FIF changes are reflected for existing index constituents subject to the following: For securities with free float greater than 25%, FIF/DIF change is implemented only if the absolute change in free float compared to current index DIF is at least 2.5% For securities with free float between 5% and 25%, FIF/DIF change is implemented only if the absolute change in free float compared to current index DIF is at least 0.5% For securities with free float less than 5%, FIF/DIF change is implemented only if the absolute change in free float compared to current index DIF is at least 0.1%

MSCI ACWI: The updated section makes no substantive methodology change. It only reformats a line break in the foreign-room adjustment-factor table and removes duplicated/erroneous footnote markers (e.g., “0.25F25” to “0.25,” “factor26F26” to “factor26,” and “FOL27F27” to “FOL27”). (Editorial)

2026-10-03T00:00:00Z

The updated section makes no substantive methodology change. It only reformats a line break in the foreign-room adjustment-factor table and removes duplicated/erroneous footnote markers (e.g., “0.25F25” to “0.25,” “factor26F26” to “factor26,” and “FOL27F27” to “FOL27”). Previous: foreign room >= 15% <= foreign 7.5% <= foreign 3.75% <= foreign foreign room 25% room < 25% room < 15% room < 7.5% <3.75% Current adjustment factor = 1 1 1 0.25 0 If the foreign room of an existing constituent decreases below 3.75%, then the adjustment factor equals 0.25F25 In order to preserve index continuity, conformity with the minimum free float-adjusted market capitalization requirements for existing IMI Index constituents will be assessed using the free float-adjusted market capitalization before the application of the adjustment factor26F26. For example, to be considered for the May 2026 Index Review, the weight reduction or deletion should have been effective on or before the May 2025 Index Review); unless the upward movement of the adjustment factor is primarily driven by a change in FOL and provided that the increase in FOL27F27 happened prior to the Price Cutoff Date of the previous Index Review described in Section 3.1.9. Updated: foreign room >= 15% <= foreign 7.5% <= foreign 3.75% <= foreign foreign room 25% room < 25% room < 15% room < 7.5% <3.75% Current adjustment factor = 1 1 1 0.25 0 If the foreign room of an existing constituent decreases below 3.75%, then the adjustment factor equals 0.25 In order to preserve index continuity, conformity with the minimum free float-adjusted market capitalization requirements for existing IMI Index constituents will be assessed using the free float-adjusted market capitalization before the application of the adjustment factor26. For example, to be considered for the May 2026 Index Review, the weight reduction or deletion should have been effective on or before the May 2025 Index Review); unless the upward movement of the adjustment factor is primarily driven by a change in FOL and provided that the increase in FOL27 happened prior to the Price Cutoff Date of the previous Index Review described in Section 3.1.9.

MSCI ACWI: The updated section does not change the buffer-zone rules. It only adds the word "Indexes" before the opening sentence and normalizes a corrupted footnote marker from "24F24" to "24"; the substantive 2/3 and 1.5 times review buffers, small-cap entry buffer, and light-rebalancing buffer rule remain unchanged. (Editorial)

2026-10-03T00:00:00Z

The updated section does not change the buffer-zone rules. It only adds the word "Indexes" before the opening sentence and normalizes a corrupted footnote marker from "24F24" to "24"; the substantive 2/3 and 1.5 times review buffers, small-cap entry buffer, and light-rebalancing buffer rule remain unchanged. Previous: In order to better reflect the investment processes of size managers, allow for timely representation of market developments when securities move far away from size-segment The buffer zones at Index Reviews are defined with boundaries of 2/3rd of and 1.5 times the Market Size-Segment Cutoff between two size-segments24F24. Updated: Indexes In order to better reflect the investment processes of size managers, allow for timely representation of market developments when securities move far away from size-segment The buffer zones at Index Reviews are defined with boundaries of 2/3rd of and 1.5 times the Market Size-Segment Cutoff between two size-segments24.

MSCI ACWI: Section Index Construction Objectives, Guiding Principles and Methodology for the MSCI Global Investable Market Indexes removed (Minor)

2026-10-03T00:00:00Z

Section Index Construction Objectives, Guiding Principles and Methodology for the MSCI Global Investable Market Indexes removed Previous: MSCI Global Investable Market Indexes Methodology | November 2025

MSCI ACWI: The size-segment assignment priority is substantively unchanged. The update only changes the footnote marker from malformed/spaced “23F23” to “threshold23” and reformats the bulleted list, including an extra bullet separator and line break; no eligibility condition, threshold, or assignment rule is altered. (Editorial)

2026-10-03T00:00:00Z

The size-segment assignment priority is substantively unchanged. The update only changes the footnote marker from malformed/spaced “23F23” to “threshold23” and reformats the bulleted list, including an extra bullet separator and line break; no eligibility condition, threshold, or assignment rule is altered. Previous: Companies greater than the upper buffer threshold 23F23 of the lower Size-Segment that are: - Currently in the lower Size-Segment Index or - Assigned to this Size-Segment during last Index Review and failed the Final Size-Segment Investability Requirement or - Investable companies during last Index Review that were not assigned to any Size-Segment. Updated: Companies greater than the upper buffer threshold23 of the lower Size-Segment that are: - - Currently in the lower Size-Segment Index or Assigned to this Size-Segment during last Index Review and failed the Final Size-Segment Investability Requirement or - Investable companies during last Index Review that were not assigned to any Size-Segment.

MSCI ACWI: The section was reflowed with line breaks, whitespace changes, and normalized footnote marker formatting (for example, replacing artifacts such as “21F21”/“22F22” with separate footnote references). No rule, threshold, condition, or process for changing the Segment Number of Companies was altered. (Editorial)

2026-10-03T00:00:00Z

The section was reflowed with line breaks, whitespace changes, and normalized footnote marker formatting (for example, replacing artifacts such as “21F21”/“22F22” with separate footnote references). No rule, threshold, condition, or process for changing the Segment Number of Companies was altered. Previous: The process for adjusting the Segment Number of Companies is as follows: If additions to the Segment Number of Companies are required: - The number of companies is increased to include all companies with a full market capitalization higher than the upper boundary of the Global Minimum Size Range. - The number of companies is increased to include all companies with a full market capitalization higher than the upper limit of the Lower Size Range Boundary Proximity Area, if any, that are required to reach the lower boundary of the Market Coverage Target Range.21F21 - The additions are made in descending order of full market capitalization. The full market capitalization of the last added company then becomes the Market Size-Segment Cutoff. These limits are implemented in the following steps: - First, a reduction of no more than 5% of the Initial Segment Number of Companies is made to bring the Market Size-Segment Cutoff into compliance with the Size and Coverage Target Area. Only the companies with full company market capitalization lower than the lower limit of the Upper Size Range Boundary Proximity Area can be removed.22F22 - If this reduction brings the Market Size-Segment Cutoff into compliance with the Global Minimum Size Range, or removes at least half the free float-adjusted market capitalization that lies between the smallest company before the adjustment of the Initial Segment Number of Companies and the lower bound of the Global Minimum Size Range, no further adjustment is necessary. - If not, then a reduction of not more than 20% of the Initial Segment Number of Companies is made to remove at most half the free float-adjusted market capitalization that lies between the smallest company before adjusting the Initial Segment Number of Companies and the lower bound. - In market segments with a small number of companies, the deletion of the first two companies is not subject to the limits described above. 22 - When a limit is placed on the decrease in the number Updated: The process for adjusting the Segment Number of Companies is as follows: If additions to the Segment Number of Companies are required: - The number of companies is increased to include all companies with a full market capitalization higher than the upper boundary of the Global Minimum Size Range. - The number of companies is increased to include all companies with a full market capitalization higher than the upper limit of the Lower Size Range Boundary Proximity Area, if any, that are required to reach the lower boundary of the Market Coverage Target Range. 21 - The additions are made in descending order of full market capitalization. The full market capitalization of the last added company then becomes the Market Size-Segment Cutoff. These limits are implemented in the following steps: - First, a reduction of no more than 5% of the Initial Segment Number of Companies is made to bring the Market Size-Segment Cutoff into compliance with the Size and Coverage Target Area. Only the companies with full company market capitalization lower than the lower limit of the Upper Size Range Boundary Proximity Area can be removed. 22 - If this reduction brings the Market Size-Segment Cutoff into compliance with the Global Minimum Size Range, or removes at least half the free float-adjusted market capitalization that lies between the smallest company before the adjustment of the Initial Segment Number of Companies and the lower bound of the Global Minimum Size - Range, no further adjustment is necessary. If not, then a reduction of not more than 20% of the Initial Segment Number of Companies is made to remove at most half the free float-adjusted market capitalization that lies between the smallest company before adjusting the Initial Segment Number of Companies and the lower bound. - In market segments with a small number of companies, the deletion of the first two companies is not subject to - the limits described above. 22 When a limit is placed on the decrease in the number of

MSCI ACWI: The only change is the removal of an extra footnote marker string after "Interim Market Size-Segment Cutoff," changing "Cutoff20F20" to "Cutoff20." The methodology for determining the Initial Segment Number of Companies is unchanged. (Editorial)

2026-10-03T00:00:00Z

The only change is the removal of an extra footnote marker string after "Interim Market Size-Segment Cutoff," changing "Cutoff20F20" to "Cutoff20." The methodology for determining the Initial Segment Number of Companies is unchanged. Previous: If the Interim Market Size-Segment Cutoff20F20 is equal to or above the lower bound of the Global Minimum Size Range, then the Initial Segment Number of Companies is equal to the number of companies in the updated Investable Equity Universe with the full company market capitalization equal to or above the Interim Market Size-Segment Cutoff. Updated: If the Interim Market Size-Segment Cutoff20 is equal to or above the lower bound of the Global Minimum Size Range, then the Initial Segment Number of Companies is equal to the number of companies in the updated Investable Equity Universe with the full company market capitalization equal to or above the Interim Market Size-Segment Cutoff.

MSCI ACWI: The updated text adds the standalone word "Cutoffs" before the unchanged sentence describing updates to Segment Numbers of Companies and Market Size-Segment Cutoffs. No methodology rule, threshold, date, formula, or affected security set changes. (Editorial)

2026-10-03T00:00:00Z

The updated text adds the standalone word "Cutoffs" before the unchanged sentence describing updates to Segment Numbers of Companies and Market Size-Segment Cutoffs. No methodology rule, threshold, date, formula, or affected security set changes. Previous: The Segment Number of Companies and the corresponding Market Size-Segment Cutoffs are updated to account for changes in each Market Investable Equity Universe. Updated: Cutoffs The Segment Number of Companies and the corresponding Market Size-Segment Cutoffs are updated to account for changes in each Market Investable Equity Universe.

MSCI ACWI: The updated section adds the word "Ranges" at the beginning of the paragraph. No rule, threshold, process, reference, or other substantive requirement changes. (Editorial)

2026-10-03T00:00:00Z

The updated section adds the word "Ranges" at the beginning of the paragraph. No rule, threshold, process, reference, or other substantive requirement changes. Previous: The Global Minimum Size References and corresponding ranges are reset at the Index Reviews using a process similar to the one used to update the Equity Universe Minimum Size Requirement. More details may be found in Appendix X: Updating the Global Minimum Size References and Ranges. Updated: Ranges The Global Minimum Size References and corresponding ranges are reset at the Index Reviews using a process similar to the one used to update the Equity Universe Minimum Size Requirement. More details may be found in Appendix X: Updating the Global Minimum Size References and Ranges.

MSCI ACWI: The updated section removes internal footnote-link artifacts (e.g., “17F17”) while preserving the same listing-priority rules and footnote numbers. No liquidity threshold, eligibility condition, review treatment, or index calculation rule changed. (Editorial)

2026-10-03T00:00:00Z

The updated section removes internal footnote-link artifacts (e.g., “17F17”) while preserving the same listing-priority rules and footnote numbers. No liquidity threshold, eligibility condition, review treatment, or index calculation rule changed. Previous: If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing17F17 Foreign listing in the same geographical region 18F18 Foreign listing in a different geographical region 19F19. Updated: If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing17 Foreign listing in the same geographical region 18 Foreign listing in a different geographical region 19.

MSCI ACWI: The substantive wording of the composite-index definition is unchanged. The update only changes footnote/reference formatting and spacing, including the section heading marker and inline note numbers. (Editorial)

2026-10-03T00:00:00Z

The substantive wording of the composite-index definition is unchanged. The update only changes footnote/reference formatting and spacing, including the section heading marker and inline note numbers. Previous: Market Indexes can be grouped either on the basis of Market Classification 14F14 definition, geographical regions, economic regions or other criteria. Developed, Emerging and Frontier Markets, we obtain the MSCI World15F15, the MSCI Emerging Markets and the MSCI Frontier Markets Indexes respectively for each size-segment. Some examples would be the MSCI EM Asia Index or the MSCI All Countries16F16 Americas Index. Updated: Market Indexes can be grouped either on the basis of Market Classification14 definition, geographical regions, economic regions or other criteria. Developed, Emerging and Frontier Markets, we obtain the MSCI World 15, the MSCI Emerging Markets and the MSCI Frontier Markets Indexes respectively for each size-segment. Some examples would be the MSCI EM Asia Index or the MSCI All Countries16 Americas Index.

MSCI ACWI: The provided updated passage adds only the fragment "Markets Indexes," while the previous passage contains no corresponding substantive text. No index construction, eligibility, selection, weighting, calculation, or other methodology rule is stated in the changed content. (Editorial)

2026-10-03T00:00:00Z

The provided updated passage adds only the fragment "Markets Indexes," while the previous passage contains no corresponding substantive text. No index construction, eligibility, selection, weighting, calculation, or other methodology rule is stated in the changed content. Updated: Markets Indexes

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-03T00:00:00Z

Editorial change: wording only, no rule changed. Previous: At subsequent Index Reviews, if after the application of the index maintenance methodology a Standard Index contains less than five securities in a Developed Market or three securities in an Emerging Market, then the remaining securities are selected for inclusion in the Standard Index using the following process: - The securities included in the updated Market Investable Equity Universe are identified - These securities are ranked by descending free float-adjusted market capitalization, however in order to increase index stability the free float-adjusted market capitalization of the securities included in the Standard Index prior to the Index Review is multiplied by a factor of 1.5 The securities are added to the Standard Index in order to reach five constituents for a Developed Market or three for an Emerging Market in the ranking order determined in the step above Please note that the index continuity rules are applicable only to the Standard Market Indexes. Updated: At subsequent Index Reviews, if after the application of the index maintenance methodology a Standard Index contains less than five securities in a Developed Market or three securities in an Emerging Market, then the remaining securities are selected for inclusion in the Standard Index using the following process: - The securities included in the updated Market Investable Equity Universe are identified - These securities are ranked by descending free float-adjusted market capitalization, however in order to increase index stability the free float-adjusted market capitalization of the securities included in the Standard Index prior to the Index Review is multiplied by a factor of 1.5 - The securities are added to the Standard Index in order to reach five constituents for a Developed Market or three for an Emerging Market in the ranking order determined in the step above Please note that the index continuity rules are applicable only to the Standard Market Indexes.

MSCI ACWI: The methodology rules and example values are unchanged. The update only alters presentation text and line breaks around the Hungary chart, and prepends a duplicate/example heading fragment before the USA example. (Editorial)

2026-10-03T00:00:00Z

The methodology rules and example values are unchanged. The update only alters presentation text and line breaks around the Hungary chart, and prepends a duplicate/example heading fragment before the USA example. Previous: Example: For the USA Standard segment, companies are counted in descending order of full market capitalization starting with the largest company. 5,000 and Hungary Smallest Company in the Higher Standard Index 4,500 4,000 3,500 Company Full Market Capitalization 3,000 2,500 (80%, 2.33 B) (90%, 2.33 B) Global Minimum 2,000 Coverage Target Area (90%,1.01 B) 1,000 (80%,1.01 B) Market Coverage 500 Target Range Standard Index Small Cap Index 0 43.9% 77.4% 86.2% 96.3% 97.9% 99.0% 99.6% 100.0% Cumulative Free-Float Adjusted Market Capitalization Coverage Updated: Size-Segments: Example Example: For the USA Standard segment, companies are counted in descending order of full market capitalization starting with the largest company. 5,000 and Hungary Smallest Company in the Higher Standard Index 4,500 4,000 3,500 Company Full Market Capitalization 3,000 2,500 (80%, 2.33 B) (90%, 2.33 B) Global Minimum 2,000 Coverage Target Area (90%,1.01 B) 1,000 (80%,1.01 B) Market Coverage 500 Target Range Standard Index Small Cap Index 0 43.9% 77.4% 86.2% 96.3% 97.9% 99.0% 99.6% 100.0% Cumulative Free-Float Adjusted Market Capitalization Coverage

MSCI ACWI: The comparison identifies the previous methodology section as absent in the updated version, but neither the supplied previous text nor the updated text contains any content or textual diff. No substantive index rule can be identified from the provided evidence. (Editorial)

2026-10-03T00:00:00Z

The comparison identifies the previous methodology section as absent in the updated version, but neither the supplied previous text nor the updated text contains any content or textual diff. No substantive index rule can be identified from the provided evidence.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: In preparation for the transition, as of the close of May 3, 2007, the list of pro forma index constituents under the Global Investable Market Indexes methodology for the Provisional MSCI Standard and Small Cap Indexes in each market and for all Provisional Indexes derived from the Standard indexes were made available to clients. All Global Investable Market Indexes, including the Provisional Standard and Provisional Small Cap Indexes, were calculated as of June 1, 2007 and published daily as of the close of June 5, 2007. Updated: In preparation for the transition, as of the close of May 3, 2007, the list of pro forma index constituents under the GIMI™ methodology for the Provisional MSCI Standard and Small Cap Indexes in each market and for all Provisional Indexes derived from the Standard indexes were made available to clients. All GIMI, including the Provisional Standard and Provisional Small Cap Indexes, were calculated as of June 1, 2007 and published daily as of the close of June 5, 2007.

MSCI ACWI: The updated section makes only presentation/terminology changes: it adds a paragraph break after the introductory sentence and replaces “MSCI Global Investable Market Indexes” with the abbreviated trademark form “MSCI GIMI™,” while normalizing “Semi-Annual” spacing. No initial-construction rule, threshold, or affected security set changes. (Editorial)

2026-10-02T00:00:00Z

The updated section makes only presentation/terminology changes: it adds a paragraph break after the introductory sentence and replaces “MSCI Global Investable Market Indexes” with the abbreviated trademark form “MSCI GIMI™,” while normalizing “Semi-Annual” spacing. No initial-construction rule, threshold, or affected security set changes. Previous: However, with a view to reducing transition turnover and ongoing turnover, the following additional rules were used at initial construction: The Standard Indexes targeted market coverage and size integrity as described in Sub- The buffer zones used in maintaining the MSCI Global Investable Market Indexes at Semi- Annual Index Reviews were fully populated at initial construction with companies from the current Standard and Small Cap Indexes, in order to minimize turnover during the transition. Updated: However, with a view to reducing transition turnover and ongoing turnover, the following additional rules were used at initial construction: The Standard Indexes targeted market coverage and size integrity as described in Sub- The buffer zones used in maintaining the MSCI GIMI™ at Semi-Annual Index Reviews were fully populated at initial construction with companies from the current Standard and Small Cap Indexes, in order to minimize turnover during the transition.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: schedule. The Provisional Indexes and the new Size-Segment and Style Indexes were maintained according to the index maintenance principles of the Global Investable Market Indexes methodology. Updated: schedule. The Provisional Indexes and the new Size-Segment and Style Indexes were maintained according to the index maintenance principles of the GIMI™ methodology.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: MSCI transitioned the current Standard Index, the Small Cap Index and all indexes derived from the Standard Index to the Global Investable Market Indexes methodology described in this book at the end of May 2008. The transition of the MSCI Standard and the MSCI Small Cap Indexes to the MSCI Global Investable Market Indexes methodology occurred in two phases. During the transition period, MSCI was producing the MSCI Provisional Standard and Provisional Small Cap Indexes to assist investors in understanding the changes that would have occurred if the Global Investable Market Indexes methodology had been immediately implemented in the current MSCI Standard and Small Cap Indexes. The Provisional Indexes also provided increased flexibility to current investors who wished to transition to the Global Investable Market Indexes methodology on their own schedule. Updated: MSCI transitioned the current Standard Index, the Small Cap Index and all indexes derived from the Standard Index to the GIMI™ methodology described in this book at the end of May 2008. The transition of the MSCI Standard and the MSCI Small Cap Indexes to the MSCI GIMI methodology occurred in two phases. During the transition period, MSCI was producing the MSCI Provisional Standard and Provisional Small Cap Indexes to assist investors in understanding the changes that would have occurred if the GIMI methodology had been immediately implemented in the current MSCI Standard and Small Cap Indexes. The Provisional Indexes also provided increased flexibility to current investors who wished to transition to the GIMI methodology on their own schedule.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: The ongoing event-related changes to the MSCI China Indexes primarily follow the MSCI GIMI Methodology and the MSCI Corporate Events Methodology. 67 The MSCI China A Onshore Indexes were previously known as the MSCI China A Indexes prior to March 1, 2018. Please refer to Appendixes XII and XIV of the MSCI GIMI Methodology for more details on the MSCI China A Onshore Indexes. Updated: The ongoing event-related changes to the MSCI China Indexes primarily follow the MSCI GIMI™ Methodology and the MSCI Corporate Events Methodology. 67 The MSCI China A Onshore Indexes were previously known as the MSCI China A Indexes prior to March 1, 2018. Please refer to Appendixes XII and XIV of the MSCI GIMI™ Methodology for more details on the MSCI China A Onshore Indexes.

MSCI ACWI: The only change is typographic formatting of footnote reference 67: the space between "Indexes" and the footnote number was removed. No index definition, eligibility, constituent, calculation, or other methodology rule changed. (Editorial)

2026-10-02T00:00:00Z

The only change is typographic formatting of footnote reference 67: the space between "Indexes" and the footnote number was removed. No index definition, eligibility, constituent, calculation, or other methodology rule changed. Previous: The MSCI China A Indexes 67 and the MSCI China A RMB Indexes are designed to represent the performance of the China A shares portion of the MSCI China Index. Updated: The MSCI China A Indexes67 and the MSCI China A RMB Indexes are designed to represent the performance of the China A shares portion of the MSCI China Index.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: The ongoing event-related changes to the MSCI China A Inclusion Index follow the MSCI GIMI Methodology. Updated: The ongoing event-related changes to the MSCI China A Inclusion Index follow the MSCI GIMI™ Methodology.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: The ongoing event-related changes to the MSCI China Indexes primarily follow the MSCI GIMI Methodology and the MSCI Corporate Events Methodology. For example, if a China A share constituent of the MSCI China All Shares IMI is migrating from Small Cap to Large Cap or Mid Cap due to a corporate event, the China A share security will not be added to the MSCI China Index at the time of the implementation of the corporate event and will be considered for inclusion in the following Index Review for MSCI China Index. Updated: The ongoing event-related changes to the MSCI China Indexes primarily follow the MSCI GIMI™ Methodology and the MSCI Corporate Events Methodology. For example, if a China A share constituent of the MSCI China All Shares IMI™ is migrating from Small Cap to Large Cap or Mid Cap due to a corporate event, the China A share security will not be added to the MSCI China Index at the time of the implementation of the corporate event and will be considered for inclusion in the following Index Review for MSCI China Index.

MSCI ACWI: The updated methodology adds a special assessment basis for China A shares that are current constituents of the MSCI China All Shares IMI: when applying the low-FIF market-capitalization requirement, their free float-adjusted market capitalization is assessed before applying the adjustment factor. The Stock Connect eligibility and other stated requirements remain unchanged. (Minor)

2026-10-02T00:00:00Z

The updated methodology adds a special assessment basis for China A shares that are current constituents of the MSCI China All Shares IMI: when applying the low-FIF market-capitalization requirement, their free float-adjusted market capitalization is assessed before applying the adjustment factor. The Stock Connect eligibility and other stated requirements remain unchanged. Previous: Securities with FIF below 0.15 must meet 1.8x 0.5x the Standard Cutoff in terms of o Security FIF-adjusted Market Capitalization - Stock Connect eligibility Updated: Securities with FIF below 0.15 must meet 1.8x 0.5x the Standard Cutoff in terms of o Security FIF-adjusted Market Capitalization China A shares that are current constituents of the MSCI China All Shares IMI™ will o be assessed using the free float-adjusted market capitalization before the application of the adjustment factor - Stock Connect eligibility

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: In addition to the Investability Requirements described in section 2.2, MSCI will exclude newly eligible securities (securities that are not current constituents of the Investable Market Indexes) from the investable equity universe if the securities: - - Are suspended on the Price Cutoff date, or Have been suspended for at least 50 days consecutively in the past 12 months66 Companies and securities are evaluated based on the integrated MSCI China Equity Universe. Updated: In addition to the Investability Requirements described in section 2.2, MSCI will exclude newly eligible securities (securities that are not current constituents of the IMI™) from the investable equity universe if the securities: - - Are suspended on the Price Cutoff date, or Have been suspended for at least 50 days consecutively in the past 12 months66 Companies and securities are evaluated based on the integrated MSCI China Equity Universe.

MSCI ACWI: The updated version abbreviates “MSCI Global Investable Market Indexes” to “MSCI GIMI™” and “Investable Market Index” to “IMI™”/“IMI,” and moves the size-segment derivation sentence earlier. It also truncates the specific Indian NSDL/CDSL red-flag or breach-limit exclusion sentence, leaving only the fragment “inclusion in Market Investable Equity Universe,” while retaining the general foreign-ownership restriction exclusion. (Minor)

2026-10-02T00:00:00Z

The updated version abbreviates “MSCI Global Investable Market Indexes” to “MSCI GIMI™” and “Investable Market Index” to “IMI™”/“IMI,” and moves the size-segment derivation sentence earlier. It also truncates the specific Indian NSDL/CDSL red-flag or breach-limit exclusion sentence, leaving only the fragment “inclusion in Market Investable Equity Universe,” while retaining the general foreign-ownership restriction exclusion. Previous: Once a Market Investable Equity Universe is defined, it is segmented into the following sizebased indexes: Investable Market Index (Large + Mid + Small) Standard Index (Large + Mid) Large Cap Index Mid Cap Index Small Cap Index The structure of the MSCI Global Investable Market Indexes in each market is depicted below. 12 Indian securities included in the National Securities Depository Limited’s (NSDL) & Central Depository Services Limited’s (CDSL) official list of securities for which the Red flag or Breach limit has been reached would not be considered for the inclusion in Market Investable Equity Universe. The Investable Market Index, the Standard Index and the Large Cap Index are created first, while the Mid Cap Index is derived as the difference between the Standard Index and the Large Cap Index, and the Small Cap Index is derived as the difference between the Investable Market Index and the Standard Index. This is done for each of the three size-segment indexes, namely the Investable Market Index, the Standard Index, and the Large Cap Indexes. Cumulative Free Float- Coverage Adjusted Range Market Coverage Creating the Size-Segment Indexes in each market involves the following steps: Defining the Market Coverage Target Range for each size-segment Determining the Global Minimum Size Range for each size-segment Determining the Market Size-Segment Cutoffs and associated Segment Number of Companies Assigning companies to the size-segments Applying final size-segment investability requirements Updated: Once a Market Investable Equity Universe is defined, it is segmented into the following sizebased indexes: Investable Market Index (Large + Mid + Small) Standard Index (Large + Mid) Large Cap Index Mid Cap Index Small Cap Index The structure of the MSCI GIMI™ in each market is depicted below. The IMI™, the Standard Index and the Large Cap Index are created first, while the Mid Cap Index is derived as the difference between the Standard Index and the Large Cap Index, and the Small Cap Index is derived as the difference between the IMI and the Standard Index. inclusion in Market Investable Equity Universe. This is done for each of the three size-segment indexes, namely the IMI, the Standard Index, and the Large Cap Indexes. Cumulative Free Float- Coverage Adjusted Range Market Coverage Creating the Size-Segment Indexes in each market involves the following steps: Defining the Market Coverage Target Range for each size-segment Determining the Global Minimum Size Range for each size-segment Determining the Market Size-Segment Cutoffs and associated Segment Number of Companies Assigning companies to the size-segments Applying final size-segment investability requirements

MSCI ACWI: The updated section replaces the full name "MSCI Global Investable Market Indexes methodology" with the branded abbreviation "MSCI GIMI™ methodology." The paragraph is also reflowed, but the definition of the integrated MSCI China Equity Universe and the exclusions for China A shares remain unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated section replaces the full name "MSCI Global Investable Market Indexes methodology" with the branded abbreviation "MSCI GIMI™ methodology." The paragraph is also reflowed, but the definition of the integrated MSCI China Equity Universe and the exclusions for China A shares remain unchanged. Previous: The MSCI China Indexes will be maintained using the MSCI Global Investable Market Indexes methodology under the Emerging Market framework. They will be constructed on the basis of the integrated MSCI China Equity Universe comprised of A‐shares, CDRs 65 and B‐shares listed in China, H‐shares, Red‐chips, and P‐chips listed in Hong Kong and foreign listings listed outside China or Hong Kong, identical to the universe used for the construction of the MSCI China All Shares Index. Updated: The MSCI China Indexes will be maintained using the MSCI GIMI™ methodology under the Emerging Market framework. They will be constructed on the basis of the integrated MSCI China Equity Universe comprised of A‐shares, CDRs 65 and B‐shares listed in China, H‐ shares, Red‐chips, and P‐chips listed in Hong Kong and foreign listings listed outside China or Hong Kong, identical to the universe used for the construction of the MSCI China All Shares Index.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: This section should be read in conjunction with the earlier Section 2 ‘Constructing the MSCI Global Investable Market Indexes’ and Section 3 ‘Maintaining the MSCI Global Investable Market Indexes’ as it describes only the points specific to maintenance of the MSCI China Indexes. Updated: This section should be read in conjunction with the earlier Section 2 ‘Constructing the MSCI GIMI™’ and Section 3 ‘Maintaining the MSCI GIMI’ as it describes only the points specific to maintenance of the MSCI China Indexes.

MSCI ACWI: The update only removes the space between the year and footnote marker, changing “2020 64” to “202064.” No index maintenance rule, schedule, trigger, or calculation procedure is changed. (Editorial)

2026-10-02T00:00:00Z

The update only removes the space between the year and footnote marker, changing “2020 64” to “202064.” No index maintenance rule, schedule, trigger, or calculation procedure is changed. Previous: This section has been updated in January 2020 64. Updated: This section has been updated in January 202064.

MSCI ACWI: The update only changes presentation: the China indexes offering table is flattened from line-separated rows into continuous text, and a space is inserted before footnote reference 63. No index eligibility, universe, inclusion-factor, or calculation rule changes. (Editorial)

2026-10-02T00:00:00Z

The update only changes presentation: the China indexes offering table is flattened from line-separated rows into continuous text, and a space is inserted before footnote reference 63. No index eligibility, universe, inclusion-factor, or calculation rule changes. Previous: Share Class Domestic MSCI China Indexes P Foreign Connect Index Free Float B Shares H Shares Red Chips Size- Chips Listings A Shares CDR* eligible Listing Inclusion Inclusion Segment only Factor Factor Integrated China Equity Universe MSCI China All Shares Index L/M/S Onshore FIF MSCI China A International Index L/M/S Onshore FIF MSCI China Indexes L/M Connect 20% FIF MSCI China A Inclusion Index L/M Connect FIF MSCI China A Inclusion RMB Index L/M Onshore FIF MSCI China A Index L/M Connect FIF MSCI China A RMB Index L/M Onshore FIF Domestic China A Shares Equity Universe MSCI China A Onshore Index L/M/S Onshore DIF * CDRs are generally subject to the same requirements as China A shares, including Stock Connect eligibility further described in Appendix on Index Maintenance of the MSCI China Indexes. In addition, MSCI will also continue to calculate the MSCI China A Onshore Indexes63 which are based on the Domestic Inclusion Factor (DIF) that is not subject to FOL and constructed only on the basis of the China A Equity Universe. Updated: Share Class Domestic MSCI China Indexes P Foreign Connect Index Free Float B Shares H Shares Red Chips Size- Chips Listings A Shares CDR* eligible Listing Inclusion Inclusion Segment only Factor Factor Integrated China Equity Universe MSCI China All Shares Index L/M/S Onshore FIF MSCI China A International Index L/M/S Onshore FIF MSCI China Indexes L/M Connect 20% FIF MSCI China A Inclusion Index L/M Connect FIF MSCI China A Inclusion RMB Index L/M Onshore FIF MSCI China A Index L/M Connect FIF MSCI China A RMB Index L/M Onshore FIF Domestic China A Shares Equity Universe MSCI China A Onshore Index L/M/S Onshore DIF * CDRs are generally subject to the same requirements as China A shares, including Stock Connect eligibility further described in Appendix on Index Maintenance of the MSCI China Indexes. In addition, MSCI will also continue to calculate the MSCI China A Onshore Indexes 63 which are based on the Domestic Inclusion Factor (DIF) that is not subject to FOL and constructed only on the basis of the China A Equity Universe.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: The treatment of investment sanctions related to the Order in the MSCI K-Series Indexes mirrors the treatment of such sanctions in the MSCI Global Investable Market Indexes, as described in Appendix V: Treatment of Investment Sanctions Related to U.S. Updated: The treatment of investment sanctions related to the Order in the MSCI K-Series Indexes mirrors the treatment of such sanctions in the MSCI GIMI™, as described in Appendix V: Treatment of Investment Sanctions Related to U.S.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Currently, the index market capitalization of securities in the MSCI China A Onshore Indexes is determined as Domestic Inclusion Factor * Security Full Market Capitalization as in the MSCI Global Investable Market Indexes. Updated: Currently, the index market capitalization of securities in the MSCI China A Onshore Indexes is determined as Domestic Inclusion Factor * Security Full Market Capitalization as in the MSCI GIMI™.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: The Equity Universe Minimum Size applied to the MSCI China A Indexes are based on the Global Minimum Size Reference of the Emerging Markets under the MSCI Global Investable Market Indexes Methodology. Updated: The Equity Universe Minimum Size applied to the MSCI China A Indexes are based on the Global Minimum Size Reference of the Emerging Markets under the MSCI GIMI™ Methodology.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: The MSCI China A Onshore Indexes, referred to as the MSCI China A Indexes prior to March 1, 2018, are part of the MSCI Domestic Indexes. The MSCI China A Onshore Indexes are based on the MSCI Global Investable Market Indexes, with the following methodology adaptations: Updated: The MSCI China A Onshore Indexes, referred to as the MSCI China A Indexes prior to March 1, 2018, are part of the MSCI Domestic Indexes. The MSCI China A Onshore Indexes are based on the MSCI GIMI™, with the following methodology adaptations:

MSCI ACWI: The methodology name is abbreviated from "MSCI Global Investable Market Indexes Methodology" to "MSCI GIMI™ Methodology" (and later "MSCI GIMI Methodology"). The text also changes line wrapping, but no index rule, country coverage, definition, review reference, or eligibility criterion changes. (Editorial)

2026-10-02T00:00:00Z

The methodology name is abbreviated from "MSCI Global Investable Market Indexes Methodology" to "MSCI GIMI™ Methodology" (and later "MSCI GIMI Methodology"). The text also changes line wrapping, but no index rule, country coverage, definition, review reference, or eligibility criterion changes. Previous: Most of the MSCI Domestic Indexes are based on the MSCI Global Investable Market Indexes Methodology. Free float of MSCI GIMI and MSCI Domestic indexes are reviewed, as defined in Sub-Section 3.1.7 based on the date of data defined in Sub-Section 3.1.9. Please see Appendix VI for details on MSCI Free Float Definition and Estimation Guidelines. Currently, MSCI Domestic Indexes based on the MSCI Global Investable Market Indexes Methodology are available for China58, India, GCC Countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates), Canada, Korea and Australia59. Updated: Most of the MSCI Domestic Indexes are based on the MSCI GIMI™ Methodology. Free float of MSCI GIMI and MSCI Domestic indexes are reviewed, as defined in Sub-Section 3.1.7 based on the date of data defined in Sub-Section 3.1.9. Please see Appendix VI for details on MSCI Free Float Definition and Estimation Guidelines. Currently, MSCI Domestic Indexes based on the MSCI GIMI Methodology are available for China58, India, GCC Countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates), Canada, Korea and Australia59.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: The Investable Market Index Global Minimum Size Reference for Developed Markets is the full company market capitalization of the company at the same rank that determined the Investable Market Index Global Minimum Size Reference at the previous Index Review (that is not a light rebalancing) as long as the cumulative free float-adjusted market capitalization coverage of the existing DM Investable Equity Universe at that rank is between 99% and 99.25%. Updated: The IMI™ Global Minimum Size Reference for Developed Markets is the full company market capitalization of the company at the same rank that determined the IMI Global Minimum Size Reference at the previous Index Review (that is not a light rebalancing) as long as the cumulative free float-adjusted market capitalization coverage of the existing DM Investable Equity Universe at that rank is between 99% and 99.25%.

MSCI ACWI: The updated methodology adds an India-specific exclusion: Indian securities appearing on the NSDL/CDSL official list as having reached a Red flag or Breach limit would not be considered for inclusion, apparently in the Market Investable Equity Universe. The general 15% minimum foreign-room requirement and the 25% adjustment cross-reference remain unchanged. (Minor)

2026-10-02T00:00:00Z

The updated methodology adds an India-specific exclusion: Indian securities appearing on the NSDL/CDSL official list as having reached a Red flag or Breach limit would not be considered for inclusion, apparently in the Market Investable Equity Universe. The general 15% minimum foreign-room requirement and the 25% adjustment cross-reference remain unchanged. Previous: For a security that is subject to a Foreign Ownership Limit (FOL) to be eligible for inclusion in a Market Investable Equity Universe, the proportion of shares still available to foreign investors relative to the maximum allowed (referred to as “foreign room”) must be at least 15%. Updated: 12 Indian securities included in the National Securities Depository Limited’s (NSDL) & Central Depository Services Limited’s (CDSL) official list of securities for which the Red flag or Breach limit has been reached would not be considered for the For a security that is subject to a Foreign Ownership Limit (FOL) to be eligible for inclusion in a Market Investable Equity Universe, the proportion of shares still available to foreign investors relative to the maximum allowed (referred to as “foreign room”) must be at least 15%.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: The trading suspensions of less than one full trading day will not trigger any postponement of the implementation of the Index Review of the MSCI Global Investable Market Indexes. Updated: The trading suspensions of less than one full trading day will not trigger any postponement of the implementation of the Index Review of the MSCI GIMI™.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: In the event that the primary stock market in a country fails to open for trading and remains closed for the entire trading day on the implementation date of the review due to an unexpected market closure, MSCI will postpone the implementation of the additions to and deletions from the MSCI All Countries World Index (ACWI), as well as the changes in FIF and NOS with a combined impact on the country index of at least 50bp, resulting from the Index Review of the MSCI Global Investable Market Indexes for that specific country index. Updated: In the event that the primary stock market in a country fails to open for trading and remains closed for the entire trading day on the implementation date of the review due to an unexpected market closure, MSCI will postpone the implementation of the additions to and deletions from the MSCI ACWI®, as well as the changes in FIF and NOS with a combined impact on the country index of at least 50bp, resulting from the Index Review of the MSCI GIMI™ for that specific country index.

MSCI ACWI: The only change is in footnote 56, where “Non-current IMI constituent” is corrected to “Non-current IMIT constituent.” No market-closure rule, trigger, timing, calculation treatment, or affected-security criterion was changed. (Editorial)

2026-10-02T00:00:00Z

The only change is in footnote 56, where “Non-current IMI constituent” is corrected to “Non-current IMIT constituent.” No market-closure rule, trigger, timing, calculation treatment, or affected-security criterion was changed. Previous: 56 Non-current IMI constituent Updated: 56 Non-current IMIT constituent

MSCI ACWI: The updated text makes only typographic changes: “IMI” is shown with a trademark symbol as “IMI™,” and a space is inserted before footnote reference 54 in “suspended 54.” The suspension postponement, cancellation, and Chinese securities rules are unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated text makes only typographic changes: “IMI” is shown with a trademark symbol as “IMI™,” and a space is inserted before footnote reference 54 in “suspended 54.” The suspension postponement, cancellation, and Chinese securities rules are unchanged. Previous: Reviews MSCI will postpone the implementation of Index Review changes for IMI constituents, as well as Micro Cap constituents, when the affected securities are suspended54 on the day prior to the effective implementation date55 of the Index Review. Updated: Reviews MSCI will postpone the implementation of Index Review changes for IMI™ constituents, as well as Micro Cap constituents, when the affected securities are suspended 54 on the day prior to the effective implementation date55 of the Index Review.

MSCI ACWI: The substantive liquidity retention, alternative listing priority, Emerging Markets exemption, and 0.5 Liquidity Adjustment Factor rules are unchanged. The update mainly shortens “Investable Market Indexes” to “IMI™,” adds a trademark symbol to “GIMI™,” moves footnotes relative to the text, and changes pagination/formatting. (Editorial)

2026-10-02T00:00:00Z

The substantive liquidity retention, alternative listing priority, Emerging Markets exemption, and 0.5 Liquidity Adjustment Factor rules are unchanged. The update mainly shortens “Investable Market Indexes” to “IMI™,” adds a trademark symbol to “GIMI™,” moves footnotes relative to the text, and changes pagination/formatting. Previous: Rebalancings Existing constituents of the Investable Market Indexes can remain in the Investable Market Indexes only if: The 3-month ATVR and Frequency of Trading are at least 5% and 80% respectively for Developed Markets The 3-month ATVR and Frequency of Trading are at least 5% and 70% respectively for Emerging Markets If the listing used for an existing constituent no longer meets the above liquidity requirements, other eligible listings that do meet such liquidity requirements will be used to represent the security in the Market Investable Equity Universe. If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing51 Foreign listing in the same geographical region 52 Foreign listing in a different geographical region 53 If an existing constituent of a Standard Index in Emerging Markets fails to meet the liquidity requirements, but has a weight of more than 10% in the respective country index and its free float adjusted market capitalization is above 0.5 times the Global Minimum Size Reference for Emerging Markets, then such constituent will remain in the index. However, MSCI would apply a Liquidity Adjustment Factor of 0.5 to the weight of the security, and in the subsequent Index Review, MSCI: Would delete the security from the index if the security does not meet all liquidity requirements for existing constituents calculated after applying the Liquidity Adjustment Factor; or Would maintain the security in the GIMI and remove the Liquidity Adjustment Factor if the security meets all the liquidity requirements for new constituents, calculated before applying the Liquidity Adjustment Factor for three consecutive Index Reviews; or Would continue maintaining the security in the GIMI with the Liquidity Adjustment Factor of 0.5 if none of the above conditions are met. Updated: Existing constituents of the IMI™ can remain in the IMI only if: The 3-month ATVR and Frequency of Trading are at least 5% and 80% respectively for Developed Markets The 3-month ATVR and Frequency of Trading are at least 5% and 70% respectively for Emerging Markets If the listing used for an existing constituent no longer meets the above liquidity requirements, other eligible listings that do meet such liquidity requirements will be used to represent the security in the Market Investable Equity Universe. If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing51 Foreign listing in the same geographical region52 Foreign listing in a different geographical region53 If an existing constituent of a Standard Index in Emerging Markets fails to meet the liquidity requirements, but has a weight of more than 10% in the respective country index and its free float adjusted market capitalization is above 0.5 times the Global Minimum Size Reference for Emerging Markets, then such constituent will remain in the index. However, MSCI would apply a Liquidity Adjustment Factor of 0.5 to the weight of the security, and in the subsequent Index Review, MSCI: Would delete the security from the index if the security does not meet all liquidity requirements for existing constituents calculated after applying the Liquidity Adjustment Factor; or Would maintain the security in the GIMI™ and remove the Liquidity Adjustment Factor if the security meets all the liquidity requirements for new constituents, calculated before applying the Liquidity Adjustment Factor for three consecutive Index Reviews; or Would continue maintaining the security in the GIMI with the Liquidity Adjustment Factor of 0.5 if none of the above conditions are met.

MSCI ACWI: The light-rebalancing addition rule narrows the exclusion for securities with extreme price increases: such securities are ineligible only when their FIF is less than 0.75. The text also abbreviates “Investable Market Indexes” to “IMI™” and moves the when-issued trading sentence without changing its wording. (Minor)

2026-10-02T00:00:00Z

The light-rebalancing addition rule narrows the exclusion for securities with extreme price increases: such securities are ineligible only when their FIF is less than 0.75. The text also abbreviates “Investable Market Indexes” to “IMI™” and moves the when-issued trading sentence without changing its wording. Previous: Light Rebalancings Securities that are currently not constituents of the Investable Market Indexes and that meet the investability screens described in Sub-section 2.2 (with the exception of the Minimum Length of Trading Requirement), including large IPOs that were not added earlier, and in addition meet the requirements listed below, are added to the Standard Index: A full market capitalization that exceeds 1.8 times the Interim Market Size-Segment Cutoff for the Standard Size-Segment A free float-adjusted market capitalization that exceeds 1.8 times one-half the Interim Market Size-Segment Cutoff for the Standard Size-Segment Securities that exhibit extreme price increase are not eligible for inclusion into the Standard Indexes. For companies trading on a conditional basis (when-issued trading) prior to their listing and unconditional trading, MSCI assesses the inclusion of the company in the MSCI Indexes based on its first day of conditional trading. Updated: Securities that are currently not constituents of the IMI™ and that meet the investability screens described in Sub-section 2.2 (with the exception of the Minimum Length of Trading Requirement), including large IPOs that were not added earlier, and in addition meet the requirements listed below, are added to the Standard Index: A full market capitalization that exceeds 1.8 times the Interim Market Size-Segment Cutoff for the Standard Size-Segment A free float-adjusted market capitalization that exceeds 1.8 times one-half the Interim Market Size-Segment Cutoff for the Standard Size-Segment Securities that exhibit extreme price increase with a FIF less than 0.75 are not eligible for inclusion into the Standard Indexes. For companies trading on a conditional basis (when-issued trading) prior to their listing and unconditional trading, MSCI assesses the inclusion of the company in the MSCI Indexes based on its first day of conditional trading.

MSCI ACWI: The light-rebalancing migration rule is narrowed: existing IMI constituents with an extreme price increase are blocked from migrating to Standard only when FIF is below 0.75, rather than for any extreme price increase. The explicit statement that such migrants remain Small Cap constituents is removed, with detailed treatment deferred to Sub-section 2.3.6.3. Other differences are terminology/formatting changes. (Major)

2026-10-02T00:00:00Z

The light-rebalancing migration rule is narrowed: existing IMI constituents with an extreme price increase are blocked from migrating to Standard only when FIF is below 0.75, rather than for any extreme price increase. The explicit statement that such migrants remain Small Cap constituents is removed, with detailed treatment deferred to Sub-section 2.3.6.3. Other differences are terminology/formatting changes. Previous: Once companies have been assigned to the Standard, Large and Investable Market Indexes, companies are then assigned to the Mid and Small Cap Indexes. The Small Cap Index comprises the companies that are in the Investable Market Index but not in the Standard Index. Existing IMI constituents that exhibit extreme price increase (as per section 2.3.6.3) will not be eligible for migration into the Standard Indexes. Existing IMI constituents migrating into the Standard Index and exhibiting extreme price increase will be retained as Small Cap constituents. 0.25 0 Current adjustment factor = 0.5 1 0.25 0 If the foreign room of an existing constituent decreases below 3.75%, then the adjustment factor equals 0 49. During the Index Review, for any existing IMI constituents whose weight is decreased as a result of a change in the adjustment factor due to low foreign room, MSCI will continue to monitor any potential increased foreign room due to an increase in FOL50 until five business days before the effective date of that Index Review. Securities that are part of the Market Investable Equity Universe, but did not meet additional investability requirements at the previous Index Review are not added to the Investable Market Indexes as part of the light rebalancing, unless they meet the criteria outlined in Addition of Companies Currently not Constituents of the Investable Market Indexes during Light Rebalancings. Updated: Once companies have been assigned to the Standard, Large and IMI™ Indexes, companies are then assigned to the Mid and Small Cap Indexes. The Small Cap Index comprises the companies that are in the IMI but not in the Standard Index. Existing IMI constituents that exhibit extreme price increase with a FIF less than 0.75 will not be eligible for migration into the Standard Indexes. Detailed treatments are described in Sub- section 2.3.6.3 Treatment of Securities that Exhibit Extreme Price Increase. 0.25 0 Current adjustment factor = 0.5 1 0.25 0 If the foreign room of an existing constituent decreases below 3.75%, then the adjustment factor equals 049. During the Index Review, for any existing IMI constituents whose weight is decreased as a result of a change in the adjustment factor due to low foreign room, MSCI will continue to monitor any potential increased foreign room due to an increase in FOL50 until five business days before the effective date of that Index Review. Securities that are part of the Market Investable Equity Universe, but did not meet additional investability requirements at the previous Index Review are not added to the IMI Indexes as part of the light rebalancing, unless they meet the criteria outlined in Addition of Companies Currently not Constituents of the IMI Indexes during Light Rebalancings.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Light rebalancings may result in: Additions or deletions due to migration to another Size-Segment Index Addition of significant new investable companies to the Standard Index Deletion of companies from the Investable Market Indexes due to low liquidity Changes in FIFs and in NOS. Updated: Light rebalancings may result in: Additions or deletions due to migration to another Size-Segment Index Addition of significant new investable companies to the Standard Index Deletion of companies from the IMI™ due to low liquidity Changes in FIFs and in NOS.

MSCI ACWI: The updated section makes only presentational changes: it adds the registered trademark symbol to MSCI ACWI references and adjusts line-break/bullet formatting. No monitoring trigger, threshold, affected security set, timing, or index-committee action changed. (Editorial)

2026-10-02T00:00:00Z

The updated section makes only presentational changes: it adds the registered trademark symbol to MSCI ACWI references and adjusts line-break/bullet formatting. No monitoring trigger, threshold, affected security set, timing, or index-committee action changed. Previous: o MSCI ACWI-weighted bid-ask spread, measured as index market capitalizationweighted bid-ask spread ( [ask-bid] / ask )47, breaching 0.19% AND o MSCI ACWI volatility, measured as the annualized standard deviation48 of the daily o returns of the MSCI ACWI over the past 10 business days, breaching 0.55 - OR - Market Functioning Unexpected full day or partial stock exchange closures impacting 20% of MSCI o ACWI constituents cumulatively over the “market monitoring period” Updated: MSCI ACWI®-weighted bid-ask spread, measured as index market capitalizationo weighted bid-ask spread ( [ask-bid] / ask )47, breaching 0.19% AND o MSCI ACWI® volatility, measured as the annualized standard deviation48 of the daily o returns of the MSCI ACWI® over the past 10 business days, breaching 0.55 - OR - Market Functioning o Unexpected full day or partial stock exchange closures impacting 20% of MSCI ACWI® constituents cumulatively over the “market monitoring period”

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: In the context of the MSCI GIMI, “light” rebalance refers to implementing the index maintenance methodology as described further in this section in place of the usual Index Review index maintenance rules described in Section 3.2. Updated: In the context of the MSCI GIMI™, “light” rebalance refers to implementing the index maintenance methodology as described further in this section in place of the usual Index Review index maintenance rules described in Section 3.2.

MSCI ACWI: The substantive liquidity requirements, ATVR/FOT thresholds, listing priorities, and USD 10,000 price screen are unchanged. The update abbreviates index names, changes trademark symbols and footnote spacing, and moves the existing ATVR adjustment rule for significant FIF corrections, regulatory FOL changes, or methodology changes from footnote 11 into the main text; the China A-share IPO post-limit-up treatment remains in the footnote. (Editorial)

2026-10-02T00:00:00Z

The substantive liquidity requirements, ATVR/FOT thresholds, listing priorities, and USD 10,000 price screen are unchanged. The update abbreviates index names, changes trademark symbols and footnote spacing, and moves the existing ATVR adjustment rule for significant FIF corrections, regulatory FOL changes, or methodology changes from footnote 11 into the main text; the China A-share IPO post-limit-up treatment remains in the footnote. Previous: In instances when a security has two or more eligible listings that meet the above liquidity requirements, then the following priority rules are used to determine which listing will be used for potential inclusion of the security in the Market Investable Equity Universe: Local listing7 Foreign listing in the same geographical region 8 Foreign listing in a different geographical region 9. This rule applies only for non-constituents of the MSCI Global Investable Market Indexes. Consequently, current constituents of the MSCI Global Investable Market Indexes would remain in the index if the stock price passes the USD 10,000 threshold. For example, In cases where the latest 3-month ATVR is not calculated due to suspensions, nonconstituents of the Investable Market Index are not eligible for the Market Investable Equity Universe. ATVR values used in the regular Index Reviews as well as the relevant thresholds are not rounded. - In some cases of FIF changes due to significant FIF corrections, regulatory changes in Foreign Ownership Limits or methodology changes, MSCI may adjust ATVR values by applying the updated FIF during the relevant ATVR calculation period. In the cases of initial public offering of China A shares, MSCI may use trading volumes after the limit up period. Updated: In instances when a security has two or more eligible listings that meet the above liquidity requirements, then the following priority rules are used to determine which listing will be used for potential inclusion of the security in the Market Investable Equity Universe: Local listing7 Foreign listing in the same geographical region8 Foreign listing in a different geographical region9. This rule applies only for non-constituents of the MSCI GIMI™. Consequently, current constituents of the MSCI GIMI would remain in the index if the stock price passes the USD 10,000 threshold. For example, In cases where the latest 3-month ATVR is not calculated due to suspensions, nonconstituents of the IMI™ are not eligible for the Market Investable Equity Universe. In some cases of FIF changes due to significant FIF corrections, regulatory changes in Foreign Ownership Limits or methodology changes, MSCI may adjust ATVR values by applying the updated FIF during the relevant ATVR calculation period. ATVR values used in the regular Index Reviews as well as the relevant thresholds are not rounded. - In the cases of initial public offering of China A shares, MSCI may use trading volumes after the limit up period.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: The MSCI Market Monitoring Framework aims to continually assess the potential impact of market conditions on regular Index Reviews along three key dimensions: Market Functioning, Market Liquidity and Data Availability. – Market Liquidity: monitoring of security liquidity which is based on liquidity screening criteria required by relevant index methodologies and market liquidity based on MSCI ACWI bid-ask spreads and MSCI ACWI volatility – Market Functioning: monitoring of unexpected market closures or market disruptions – Data Availability: monitoring of company and market data required to conduct Index Reviews Updated: The MSCI Market Monitoring Framework aims to continually assess the potential impact of market conditions on regular Index Reviews along three key dimensions: Market Functioning, Market Liquidity and Data Availability. – Market Liquidity: monitoring of security liquidity which is based on liquidity screening criteria required by relevant index methodologies and market liquidity based on MSCI ACWI® bid-ask spreads and MSCI ACWI® volatility – Market Functioning: monitoring of unexpected market closures or market disruptions – Data Availability: monitoring of company and market data required to conduct Index Reviews

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Foreign Room. Foreign room is assessed for the Local Line relative to the NVDR issuance limits in line with the quarterly review of foreign room described in section 3.1.6.2. Foreign Lines are not monitored for low foreign room since Foreign Lines have secondary market trading. Updated: Foreign Room. Foreign room is assessed for the Local Line relative to the NVDR issuance limits in line with the quarterly review of foreign room described in section 3.1.6.2. Foreign Lines are not monitored for low foreign room since Foreign Lines have secondary market trading.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Issues Securities of companies included on the Hong Kong Securities and Futures Commission (SFC) high shareholding concentration notices are not eligible for inclusion in the MSCI GIMI. Constituents of the MSCI GIMI included on the SFC high shareholding concentration notices will be deleted on a quarterly basis coinciding with the regular Index Reviews. Constituents of the MSCI GIMI added to the SFC high shareholding concentration notices after the Price Cutoff Date will be deleted from the IMI at the next Index Review, unless such deletion is warranted as part of the ongoing Index Review based on other index inclusion criteria, such as size or liquidity. Updated: Issues Securities of companies included on the Hong Kong Securities and Futures Commission (SFC) high shareholding concentration notices are not eligible for inclusion in the MSCI GIMI™. Constituents of the MSCI GIMI™ included on the SFC high shareholding concentration notices will be deleted on a quarterly basis coinciding with the regular Index Reviews. Constituents of the MSCI GIMI added to the SFC high shareholding concentration notices after the Price Cutoff Date will be deleted from the IMI™ at the next Index Review, unless such deletion is warranted as part of the ongoing Index Review based on other index inclusion criteria, such as size or liquidity.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: The MSCI J-Series Indexes follow the MSCI GIMI Methodology but do not apply the treatment of investment sanctions related to the Order. Updated: The MSCI J-Series Indexes follow the MSCI GIMI™ Methodology but do not apply the treatment of investment sanctions related to the Order.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Persons in Certain Chinese Companies (the Order), along with clarification from the Office of Foreign Assets Control (OFAC), results in the deletion from / non-inclusion in the MSCI GIMI of relevant impacted securities. Updated: Persons in Certain Chinese Companies (the Order), along with clarification from the Office of Foreign Assets Control (OFAC), results in the deletion from / non-inclusion in the MSCI GIMI™ of relevant impacted securities.

MSCI ACWI: The foreign-listing materiality thresholds and eligible-country list are unchanged. The update replaces full index names with GIMI/IMI trademarks, reformats the two threshold bullets, and rolls the illustrative two-review timing example and status statement forward from May/November 2026 to August 2026/February 2027. (Editorial)

2026-10-02T00:00:00Z

The foreign-listing materiality thresholds and eligible-country list are unchanged. The update replaces full index names with GIMI/IMI trademarks, reformats the two threshold bullets, and rolls the illustrative two-review timing example and status statement forward from May/November 2026 to August 2026/February 2027. Previous: Securities may be represented in the MSCI Global Investable Market Indexes by a listing in the country where they are classified (i.e. “local listing”). In addition, securities may also be represented by a listing in a different country (i.e. “foreign listing”) in certain MSCI Country Investable Market Indexes (IMI) within the MSCI Global Investable Market Indexes. Calculate the aggregate free float-adjusted market capitalization of all such securities This aggregate market capitalization of securities represented by foreign listings should represent at least: - - 5% of the free float-adjusted market capitalization of the relevant MSCI Country IMI 42, and 0.05% of the free float-adjusted market capitalization of the MSCI ACWI IMI. For example, foreign listings will become eligible for a country at the November 2026 Index Review once that country meets the Foreign Listing Materiality Requirement at the May 2026 Index Review. 42 Securities represented by foreign listings are included in the free float-adjusted market capitalization of the MSCI Country IMI for the purpose of this calculation. At the May 2026 Index Review, no additional markets met the Foreign Listing Materiality Requirement. Updated: Securities may be represented in the MSCI GIMI™ by a listing in the country where they are classified (i.e. “local listing”). In addition, securities may also be represented by a listing in a different country (i.e. “foreign listing”) in certain MSCI Country IMI™ Indexes within the MSCI GIMI. Calculate the aggregate free float-adjusted market capitalization of all such securities This aggregate market capitalization of securities represented by foreign listings should represent at least: - 5% of the free float-adjusted market capitalization of the relevant MSCI Country IMI 42, and - 0.05% of the free float-adjusted market capitalization of the MSCI ACWI IMI™. For example, foreign listings will become eligible for a country at the February 2027 Index Review once that country meets the Foreign Listing Materiality Requirement at the August 2026 Index Review. 42 Securities represented by foreign listings are included in the free float-adjusted market capitalization of the MSCI Country IMI™ for the purpose of this calculation. At the August 2026 Index Review, no additional markets met the Foreign Listing Materiality Requirement.

MSCI ACWI: The updated section makes only formatting and trademark/abbreviation changes. It removes a space before footnote 39 and replaces the full name “MSCI Global Investable Market Indexes” with “MSCI GIMI™,” including adding the trademark symbol to an existing GIMI reference. No index rule, eligibility condition, or threshold changes. (Editorial)

2026-10-02T00:00:00Z

The updated section makes only formatting and trademark/abbreviation changes. It removes a space before footnote 39 and replaces the full name “MSCI Global Investable Market Indexes” with “MSCI GIMI™,” including adding the trademark symbol to an existing GIMI reference. No index rule, eligibility condition, or threshold changes. Previous: However, such securities listed in the US and resulting from reverse mergers 39 are not eligible for index inclusion. Companies that are classified to and/or incorporated in such countries are not eligible for inclusion in the MSCI Global Investable Market Indexes. MSCI regularly assesses eligibility of new markets and communicates their potential inclusion in the MSCI GIMI in advance of implementation. Updated: However, such securities listed in the US and resulting from reverse mergers39 are not eligible for index inclusion. Companies that are classified to and/or incorporated in such countries are not eligible for inclusion in the MSCI GIMI™. MSCI regularly assesses eligibility of new markets and communicates their potential inclusion in the MSCI GIMI™ in advance of implementation.

MSCI ACWI: The index continuity disclosure is updated from the May 2026 Index Review to the August 2026 Index Review. The listed frontier market receiving continuity treatment changes from Hungary to Peru; the minimum constituent-count rules remain unchanged. (Minor)

2026-10-02T00:00:00Z

The index continuity disclosure is updated from the May 2026 Index Review to the August 2026 Index Review. The listed frontier market receiving continuity treatment changes from Hungary to Peru; the minimum constituent-count rules remain unchanged. Previous: The following table below shows those markets where after the application of the index maintenance methodology, the Standard Index contains less than the minimum number of constituents, and hence the index continuity rules have been applied to achieve the minimum number of constituents as part of the May 2026 Index Review. Developed Markets Emerging Markets Frontier Markets New Zealand Egypt Serbia Hungary Updated: The following table below shows those markets where after the application of the index maintenance methodology, the Standard Index contains less than the minimum number of constituents, and hence the index continuity rules have been applied to achieve the minimum number of constituents as part of the August 2026 Index Review. Developed Markets Emerging Markets Frontier Markets New Zealand Egypt Serbia Peru

MSCI ACWI: MSCI updated the Market Classification Framework’s quantitative thresholds. The World Bank high-income GNI reference changes from the 2024 value of USD 13,935 to the 2025 value of USD 14,375, and the Standard Index company/security market-capitalization minimums are increased for Frontier, Emerging, and Developed Markets. The table also states the minimums are those in use for the August 2026 Index Review rather than the May 2026 review. (Minor)

2026-10-02T00:00:00Z

MSCI updated the Market Classification Framework’s quantitative thresholds. The World Bank high-income GNI reference changes from the 2024 value of USD 13,935 to the 2025 value of USD 14,375, and the Standard Index company/security market-capitalization minimums are increased for Frontier, Emerging, and Developed Markets. The table also states the minimums are those in use for the August 2026 Index Review rather than the May 2026 review. Previous: Criteria Frontier Emerging Developed A Economic Development Country GNI per capita 25% above the A.1 Sustainability of economic development No requirement No requirement World Bank high income threshold * for 3 consecutive years B Size and Liquidity Requirements B.1 Entry requirement Number of companies meeting the following Standard 1 3 5 Index criteria over each of the last 8 Index Reviews Company size (full market cap) ** USD 232 mm USD 3,937 mm USD 7,874 mm Security size (float market cap) ** USD 116 mm USD 1,969 mm USD 3,937 mm Security liquidity 2.5% ATVR 15% ATVR 20% ATVR B.2 Maintenance requirements Number of companies meeting the following Standard - 1 1 Index criteria Company size (full market cap) ** USD 232 mm USD 3,937 mm USD 7,874 mm Security size (float market cap) ** USD 116 mm USD 1,969 mm USD 3,937 mm Security liquidity 2.5% ATVR 15% ATVR 20% ATVR Minimum number of securities in the Market Investable 1 3 5 Equity Universe C Market Accessibility Criteria C.1 Openness to foreign ownership At least some Significant Very high C.2 Ease of capital inflows / outflows At least partial Significant Very high C.3 Efficiency of operational framework Modest Good and tested Very high C.4 Availability of investment instrument High High Unrestricted C.5 Stability of the institutional framework Modest Modest Very high * High income threshold: 2024 GNI per capita of USD 13,935 (World Bank, Atlas method) ** Minimum in use for the May 2026 Index Review, updated on a quarterly basis Updated: Criteria Frontier Emerging Developed A Economic Development Country GNI per capita 25% above the A.1 Sustainability of economic development No requirement No requirement World Bank high income threshold * for 3 consecutive years B Size and Liquidity Requirements B.1 Entry requirement Number of companies meeting the following Standard 1 3 5 Index criteria over each of the last 8 Index Reviews Company size (full market cap) ** USD 236 mm USD 4,069 mm USD 8,138 mm Security size (float market cap) ** USD 118 mm USD 2,034 mm USD 4,069 mm Security liquidity 2.5% ATVR 15% ATVR 20% ATVR B.2 Maintenance requirements Number of companies meeting the following Standard - 1 1 Index criteria Company size (full market cap) ** USD 236 mm USD 4,069 mm USD 8,138 mm Security size (float market cap) ** USD 118 mm USD 2,034 mm USD 4,069 mm Security liquidity 2.5% ATVR 15% ATVR 20% ATVR Minimum number of securities in the Market Investable 1 3 5 Equity Universe C Market Accessibility Criteria C.1 Openness to foreign ownership At least some Significant Very high C.2 Ease of capital inflows / outflows At least partial Significant Very high C.3 Efficiency of operational framework Modest Good and tested Very high C.4 Availability of investment instrument High High Unrestricted C.5 Stability of the institutional framework Modest Modest Very high * High income threshold: 2025 GNI per capita of USD 14,375 (World Bank, Atlas method) ** Minimum in use for the August 2026 Index Review, updated on a quarterly basis

MSCI ACWI: The monitoring window for ASM, Korea risk boards, and Taiwan disposition securities now starts at the current Index Review Price Cutoff Date, rather than the previous cutoff. Indonesia Watchlist Criteria 10 is carved out and retains monitoring from the previous cutoff through three business days before the effective date; the blocked IMI additions/size migrations and subsequent-review reevaluation treatment remain the same. (Major)

2026-10-02T00:00:00Z

The monitoring window for ASM, Korea risk boards, and Taiwan disposition securities now starts at the current Index Review Price Cutoff Date, rather than the previous cutoff. Indonesia Watchlist Criteria 10 is carved out and retains monitoring from the previous cutoff through three business days before the effective date; the blocked IMI additions/size migrations and subsequent-review reevaluation treatment remain the same. Previous: During Index Reviews, securities that enter any of the following boards during the period starting from the previous Index Review Price Cutoff Date (as defined in section 3.1.9) until three business days before the current Index Review effective date are subject to the following treatment: India Short Term and Long Term Additional Surveillance Measure (ASM) Indonesia Watchlist Board due to Criteria 10 Korea Investment Alert Issue and Investment Risk Issue Taiwan Disposition Board In such cases, after the application of all the relevant index review criteria including investability screens and size segmentation determination, MSCI will not implement the following index movement for those securities: additions to IMI and size-segment migrations between the Standard and Small Cap Indexes Such securities will be re-evaluated for inclusion or size-segment migration in the subsequent Index Review. Updated: During Index Reviews, securities that enter any of the following boards during the period starting from the current Index Review Price Cutoff Date (as defined in section 3.1.9) until three business days before the current Index Review effective date are subject to the following treatment: India Short Term and Long Term Additional Surveillance Measure (ASM) Korea Investment Alert Issue and Investment Risk Issue Taiwan Disposition Board In such cases, after the application of all the relevant index review criteria including investability screens and size segmentation determination, MSCI will not implement the following index movement for those securities: additions to IMI™ and size-segment migrations between the Standard and Small Cap Indexes Securities that enter Indonesia Watchlist Board due to Criteria 10 are subject to the same treatment but monitored starting from the previous Index Review Price Cutoff Date (as defined in section 3.1.9) until three business days before the current Index Review effective date. Such securities will be re-evaluated for inclusion or size-segment migration in the subsequent Index Review.

MSCI ACWI: The disclosed Equity Universe Minimum Size Requirement is updated from the May 2026 Index Review values to the August 2026 values. The Developed and Emerging Markets threshold rises from USD 537 million to USD 585 million, while the Frontier Markets threshold rises from USD 14 million rather than USD 13 million; the underlying 99% cumulative free-float coverage methodology is unchanged. (Minor)

2026-10-02T00:00:00Z

The disclosed Equity Universe Minimum Size Requirement is updated from the May 2026 Index Review values to the August 2026 values. The Developed and Emerging Markets threshold rises from USD 537 million to USD 585 million, while the Frontier Markets threshold rises from USD 14 million rather than USD 13 million; the underlying 99% cumulative free-float coverage methodology is unchanged. Previous: At the time of the May 2026 Index Review, the Equity Universe Minimum Size Requirement was USD 537 million for the Developed and Emerging Markets while it was USD 13 million for the Frontier Markets. Updated: At the time of the August 2026 Index Review, the Equity Universe Minimum Size Requirement was USD 585 million for the Developed and Emerging Markets while it was USD 14 million for the Frontier Markets.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Constituents of the MSCI GIMI that enter the alert boards listed in the table above will be deleted on the last business day of each month at market price with a notice period of at least two full business days. Updated: Constituents of the MSCI GIMI™ that enter the alert boards listed in the table above will be deleted on the last business day of each month at market price with a notice period of at least two full business days.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: In order to minimize potential reverse turnover, securities deleted due to inclusion on such boards (see deletion of existing index constituents below) may only be added back to the MSCI GIMI after 12 months from their deletion from the index provided that they have been removed from the ineligible alert board before the relevant equity universe cutoff date. Updated: In order to minimize potential reverse turnover, securities deleted due to inclusion on such boards (see deletion of existing index constituents below) may only be added back to the MSCI GIMI™ after 12 months from their deletion from the index provided that they have been removed from the ineligible alert board before the relevant equity universe cutoff date.

MSCI ACWI: The eligible Emerging Markets table was largely reflowed into denser lines, but it also identifies a Taiwan market segment differently: the previous text lists only “TWSE Main Board,” while the updated text lists “TWSE Main Board” and “Taiwan Innovation Board.” No effective date is stated for the change. (Minor)

2026-10-02T00:00:00Z

The eligible Emerging Markets table was largely reflowed into denser lines, but it also identifies a Taiwan market segment differently: the previous text lists only “TWSE Main Board,” while the updated text lists “TWSE Main Board” and “Taiwan Innovation Board.” No effective date is stated for the change. Previous: Level 1 Level 2 BRAZIL (8) B3 (Brasil Bolsa Balcão) Yes Novo Mercado Traditional CHILE Santiago Stock Exchange - - ChiNext Shenzhen Stock Exchange Main Board Shenzhen Stock Exchange - Hong Kong Stock Connect - Main Board CHINA (1) Shanghai Stock Exchange Yes STAR Market Shanghai Stock Exchange - Hong Kong Stock Connect - Growth Enterprise Market Stock Exchange of Hong Kong Main Board Global Market (2) COLOMBIA Colombian Stock Exchange - Local Market Free Market (2) CZECH REPUBLIC Prague Stock Exchange - Prime Market Standard Market EGYPT Egyptian Exchange Main Market - GREECE Athens Stock Exchange Main Market - Beta Market (5) BSE Xtend HUNGARY Budapest Stock Exchange - Prime Market Standard Market Main Board National Stock Exchange SME Board (7) INDIA - Main Board Mumbai Stock Exchange SME Board Acceleration Board (7) Development Board INDONESIA Indonesia Stock Exchange - Main Board New Economy Board (6) KOSPI Market KOREA Korea Exchange - KOSDAQ Market Main Market KUWAIT(4) Boursa Kuwait - Premier Market ACE Market MALAYSIA Bursa Malaysia - Main Market Equity Segment MEXICO Mexican Stock Exchange - Global Market Segment (2) Risk Capital Segment PERU Lima Stock Exchange Yes Securities Market PHILIPPINES Philippine Stock Exchange Main Board - Main Market POLAND Warsaw Stock Exchange - New Connect Parallel Market Main Market QATAR Qatar Stock Exchange - Venture Market Main Market SAUDI ARABIA (3) Saudi Exchange - Nomu - Parallel Market (5) AltX SOUTH AFRICA Johannesburg Stock Exchange - Main Board Taiwan Stock Exchange TWSE Main Board TAIWAN - Taipei Exchange TPEx Main Board mai THAILAND Stock Exchange of Thailand - SET STAR Market Main Market TURKEY Borsa Istanbul - SubMarket (5) Structured Products and Funds Market Growth Market Abu Dhabi Securities Exchange Main Market UNITED ARAB EMIRATES - Dubai Financial Market - Nasdaq Dubai - (1) For a more detailed description of the MSCI universe, please refer to Appendix III (2) Listings on this market segment are eligible Updated: Level 1 Level 2 BRAZIL (8) B3 (Brasil Bolsa Balcão) Yes Novo Mercado Traditional CHILE Santiago Stock Exchange - ChiNext Shenzhen Stock Exchange Main Board Shenzhen Stock Exchange - Hong Kong Stock Connect Main Board CHINA (1) Shanghai Stock Exchange Yes STAR Market Shanghai Stock Exchange - Hong Kong Stock Connect Growth Enterprise Market Stock Exchange of Hong Kong Main Board Global Market (2) COLOMBIA Colombian Stock Exchange - Local Market Free Market (2) CZECH REPUBLIC Prague Stock Exchange Prime Market - Standard Market EGYPT Egyptian Exchange Main Market - GREECE Athens Stock Exchange Main Market - Beta Market (5) BSE Xtend HUNGARY Budapest Stock Exchange - Prime Market Standard Market Main Board National Stock Exchange SME Board (7) INDIA - Main Board Mumbai Stock Exchange SME Board Acceleration Board (7) Development Board INDONESIA Indonesia Stock Exchange - Main Board New Economy Board (6) KOSPI Market KOREA Korea Exchange - KOSDAQ Market Main Market KUWAIT(4) Boursa Kuwait - Premier Market ACE Market MALAYSIA Bursa Malaysia - Main Market Equity Segment MEXICO Mexican Stock Exchange - Global Market Segment (2) Risk Capital Segment PERU Lima Stock Exchange Yes Securities Market PHILIPPINES Philippine Stock Exchange Main Board - Main Market POLAND Warsaw Stock Exchange - New Connect Parallel Market Main Market QATAR Qatar Stock Exchange - Venture Market Main Market SAUDI ARABIA (3) Saudi Exchange - Nomu - Parallel Market (5) AltX SOUTH AFRICA Johannesburg Stock Exchange - Main Board TWSE Main Board Taiwan Stock Exchange TAIWAN - Taiwan Innovation Board Taipei Exchange TPEx Main Board mai THAILAND Stock Exchange of Thailand - SET STAR Market Main Market TURKEY Borsa Istanbul - SubMarket (5) Structured Products and Funds Marke Growth Market Abu Dhabi Securities Exchange Main Market UNITED ARAB EMIRATES - Dubai Financial Market - Nasdaq Dubai - (1) For a more detailed description of the MSCI universe, please refer to Appendix III (2) Listings on this market seg

MSCI ACWI: The developed-markets eligible-exchange table adds the Texas Stock Exchange under the USA, with foreign-listing eligibility shown as “-”. A new footnote states that listings on this exchange become eligible for MSCI Indexes from July 06, 2026. Other visible differences are line breaks or table formatting. (Minor)

2026-10-02T00:00:00Z

The developed-markets eligible-exchange table adds the Texas Stock Exchange under the USA, with foreign-listing eligibility shown as “-”. A new footnote states that listings on this exchange become eligible for MSCI Indexes from July 06, 2026. Other visible differences are line breaks or table formatting. Previous: - Nasdaq First North Growth Market – Denmark First North Premier Growth Market Nasdaq Helsinki Main Market FINLAND First North Growth Market - Nasdaq First North Growth Market – Finland First North Premier Growth Market Euronext Growth Market FRANCE Euronext Paris - Regulated Market Basic Board GERMANY Deutsche Börse Xetra - EU Regulated market Open Market Growth Enterprise Market HONG KONG Stock Exchange of Hong Kong Yes Main Board (3) Euronext Growth Market IRELAND Euronext Dublin - Regulated Market ISRAEL Tel Aviv Stock Exchange - Yes Euronext Growth Market Global Equity Market (1) ITALY Borsa Italiana - Regulated Market Market for Investment Vehicle (2) Growth Market Prime Market Tokyo Stock Exchange Standard Market JAPAN Tokyo Pro (2) - Main Market Nagoya Stock Exchange Next Market Premier Market NETHERLANDS Euronext Amsterdam Regulated Market Yes NEW ZEALAND New Zealand Stock Exchange Main Board - Euronext Expand NORWAY Euronext Oslo Børs Euronext Growth Market (2) - Regulated Market PORTUGAL Euronext Lisbon Regulated Market - Catalist SINGAPORE Singapore Exchange Yes Main Board Madrid Stock Exchange Mercado Continuo SPAIN Growth Companies - BME Growth SOCIMI Nasdaq Stockholm Main Market Nordic Growth Market Main Regulated Market Nordic SME SWEDEN (5) Yes First North Growth Market Nasdaq First North Growth Market – Sweden First North Premier Growth Market Spotlight Stock Exchange - Blue Chip Shares Mid-/Small-Cap Shares SIX Swiss Exchange Secondary Listing Shares SWITZERLAND Sparks Shares - Sponsored Foreign Shares (1) SME Main Market BX Swiss Sponsored Shares Admission to Trading Only (1) UNITED KINGDOM London Stock Exchange AIM - Main Market (4) New York Stock Exchange - Capital Market Nasdaq Stock Market Global Market USA Global Select Market - NYSE American - NYSE Arca - Cboe BZX Exchange - (5) Eligibility of Foreign Listings effective November 2024 Index Review Updated: - Nasdaq First North Growth Market – Denmark First North Premier Growth Market Nasdaq Helsinki Main Market FINLAND - First North Growth Market Nasdaq First North Growth Market – Finland First North Premier Growth Market Euronext Growth Market FRANCE Euronext Paris - Regulated Market Basic Board GERMANY Deutsche Börse Xetra EU Regulated market - Open Market Growth Enterprise Market HONG KONG Stock Exchange of Hong Kong Yes Main Board (3) Euronext Growth Market IRELAND Euronext Dublin - Regulated Market ISRAEL Tel Aviv Stock Exchange - Yes Euronext Growth Market Global Equity Market (1) ITALY Borsa Italiana - Regulated Market Market for Investment Vehicle (2) Growth Market Prime Market Tokyo Stock Exchange Standard Market JAPAN Tokyo Pro (2) - Main Market Nagoya Stock Exchange Next Market Premier Market NETHERLANDS Euronext Amsterdam Regulated Market Yes NEW ZEALAND New Zealand Stock Exchange Main Board - Euronext Expand NORWAY Euronext Oslo Børs - Euronext Growth Market (2) Regulated Market PORTUGAL Euronext Lisbon Regulated Market - Catalist SINGAPORE Singapore Exchange Yes Main Board Madrid Stock Exchange Mercado Continuo SPAIN Growth Companies - BME Growth SOCIMI Nasdaq Stockholm Main Market Nordic Growth Market Main Regulated Market Nordic SME SWEDEN (5) Yes First North Growth Market Nasdaq First North Growth Market – Sweden First North Premier Growth Market Spotlight Stock Exchange - Blue Chip Shares Mid-/Small-Cap Shares SIX Swiss Exchange Secondary Listing Shares SWITZERLAND - Sparks Shares Sponsored Foreign Shares (1) SME Main Market BX Swiss Sponsored Shares Admission to Trading Only (1) UNITED KINGDOM London Stock Exchange AIM - Main Market (4) New York Stock Exchange - Capital Market Nasdaq Stock Market Global Market Global Select Market USA - NYSE American - NYSE Arca - Cboe BZX Exchange - Texas Stock Exchange (6) - (5) Eligibility of Foreign Listings effective November 2024 Index Review (6) Listings on this exchange are eligible for the MSCI Indexes from Effective 2026-07-06

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: The tables below provide a list of Stock Exchanges, Market Segments and Eligible Security Classes that MSCI uses as the basis of the construction of the MSCI Global Investable Market Indexes. Updated: The tables below provide a list of Stock Exchanges, Market Segments and Eligible Security Classes that MSCI uses as the basis of the construction of the MSCI GIMI™.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: MSCI may resume calculation of the Large, Mid, or Small Cap Standalone Indexes if over time a security becomes eligible and as long as the Standard and IMI Standalone Indexes are not discontinued. Updated: MSCI may resume calculation of the Large, Mid, or Small Cap Standalone Indexes if over time a security becomes eligible and as long as the Standard and IMI™ Standalone Indexes are not discontinued.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: A Standalone Market Investable Market Index (IMI) may be created for a market having a minimum of one company with securities meeting the requirements for the Frontier Markets Standard Index, and a minimum of two companies with securities meeting the requirements for the Frontier Markets Small Cap Index. Updated: A Standalone Market IMI™ may be created for a market having a minimum of one company with securities meeting the requirements for the Frontier Markets Standard Index, and a minimum of two companies with securities meeting the requirements for the Frontier Markets Small Cap Index.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Other indexes, such as Large, Mid or Small Market Indexes or indexes based on the GICS segmentation may be discontinued if there are no constituents left in accordance with the MSCI GIMI methodology. Updated: Other indexes, such as Large, Mid or Small Market Indexes or indexes based on the GICS segmentation may be discontinued if there are no constituents left in accordance with the MSCI GIMI™ methodology.

MSCI ACWI: The updated section makes only editorial and trademark/formatting changes: “IMI” and “GIMI” receive trademark symbols in selected places, “Investable Market Indexes (IMI)” is shortened to “IMI,” and footnote spacing is normalized. No liquidity thresholds, listing-selection rules, or Frontier Markets treatment requirements change. (Editorial)

2026-10-02T00:00:00Z

The updated section makes only editorial and trademark/formatting changes: “IMI” and “GIMI” receive trademark symbols in selected places, “Investable Market Indexes (IMI)” is shortened to “IMI,” and footnote spacing is normalized. No liquidity thresholds, listing-selection rules, or Frontier Markets treatment requirements change. Previous: During Index Reviews, existing constituents of the IMI in average and low liquidity markets may remain in a Market Investable Universe if their 12‐month ATVR stays above 2/3rd of the minimum level requirement of 15% for average liquidity markets and 5% for low liquidity markets. Furthermore, in order to remain in the Investable Market Indexes (IMI), a constituent of the MSCI Frontier Markets IMI will need to have a 12-month Frequency of Trading of at least 10%, applicable to all liquidity categories. If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing35 Foreign listing in the same geographical region 36 Foreign listing in a different geographical region 37. However, MSCI would apply a Liquidity Adjustment Factor of 0.5 to the weight of the security, and in the subsequent Index Review, MSCI: Would delete the security from the index if the security does not meet at least half of the liquidity requirements for existing constituents calculated after applying the Liquidity Adjustment Factor or Would maintain the security in the GIMI and remove the Liquidity Adjustment Factor if the security meets all the liquidity requirements for new constituents, calculated before applying the Liquidity Adjustment Factor for three consecutive Index Reviews or Would continue maintaining the security in the GIMI with the Liquidity Adjustment Factor of Updated: During Index Reviews, existing constituents of the IMI™ in average and low liquidity markets may remain in a Market Investable Universe if their 12‐month ATVR stays above 2/3rd of the minimum level requirement of 15% for average liquidity markets and 5% for low liquidity markets. Furthermore, in order to remain in the IMI, a constituent of the MSCI Frontier Markets IMI will need to have a 12-month Frequency of Trading of at least 10%, applicable to all liquidity categories. If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing35 Foreign listing in the same geographical region36 Foreign listing in a different geographical region37. However, MSCI would apply a Liquidity Adjustment Factor of 0.5 to the weight of the security, and in the subsequent Index Review, MSCI: Would delete the security from the index if the security does not meet at least half of the liquidity requirements for existing constituents calculated after applying the Liquidity Adjustment Factor or Would maintain the security in the GIMI™ and remove the Liquidity Adjustment Factor if the security meets all the liquidity requirements for new constituents, calculated before applying the Liquidity Adjustment Factor for three consecutive Index Reviews or Would continue maintaining the security in the GIMI with the Liquidity Adjustment Factor of

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: For each Frontier Market MSCI considers the following factors: The proportion of the country’s IMI (in terms of number of constituents and weight) deleted from the index due to failing the liquidity requirements The proportion of the country’s Equity Universe (in terms of number of constituents and weight) not included in the IMI due to failing the liquidity requirements, and how it compares to other Frontier Markets The average liquidity level for the country’s Equity Universe, and how it compares to other Frontier Markets The country’s historical liquidity level trends and how they compare to other Frontier Markets The size and number of constituents in the country IMI Index relative to other Frontier Markets Updated: For each Frontier Market MSCI considers the following factors: The proportion of the country’s IMI™ (in terms of number of constituents and weight) deleted from the index due to failing the liquidity requirements The proportion of the country’s Equity Universe (in terms of number of constituents and weight) not included in the IMI due to failing the liquidity requirements, and how it compares to other Frontier Markets The average liquidity level for the country’s Equity Universe, and how it compares to other Frontier Markets The country’s historical liquidity level trends and how they compare to other Frontier Markets The size and number of constituents in the country IMI Index relative to other Frontier Markets

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Subsequently, individual DM Europe country indexes within the MSCI Europe Index are derived from the constituents of the MSCI Europe Index under the Global Investable Market Indexes methodology. Updated: Subsequently, individual DM Europe country indexes within the MSCI Europe Index are derived from the constituents of the MSCI Europe Index under the GIMI™ methodology.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Markets Indexes This section should be read in conjunction with the earlier Section 2 ‘Constructing the MSCI Global Investable Market Indexes’ and Section 3 ‘Maintaining the MSCI Global Investable Market Indexes’. Further, there are three levels of minimum liquidity requirements – very low, low, and average – to accommodate the divergent liquidity levels in Frontier Markets. More specifically, the methodological differences between the index construction for Frontier Markets countries and for countries constituting the MSCI ACWI Index are found in the following: Calculation of the Equity Universe Minimum Size Requirement Calculation of the Global Minimum Size Reference Liquidity requirements resulting from categorization of Frontier Markets into very low, low or average liquidity markets Index Continuity Rules Implementation of Corporate Events In addition, the size segmentation into Large Cap and Mid Cap of the Standard Index is not offered for Frontier Markets with the exception of the MSCI Gulf Cooperation Council (GCC) Countries Indexes. Updated: Markets Indexes This section should be read in conjunction with the earlier Section 2 ‘Constructing the MSCI GIMI™’ and Section 3 ‘Maintaining the MSCI GIMI’. Further, there are three levels of minimum liquidity requirements – very low, low, and average – to accommodate the divergent liquidity levels in Frontier Markets. More specifically, the methodological differences between the index construction for Frontier Markets countries and for countries constituting the MSCI ACWI® Index are found in the following: Calculation of the Equity Universe Minimum Size Requirement Calculation of the Global Minimum Size Reference Liquidity requirements resulting from categorization of Frontier Markets into very low, low or average liquidity markets Index Continuity Rules Implementation of Corporate Events In addition, the size segmentation into Large Cap and Mid Cap of the Standard Index is not offered for Frontier Markets with the exception of the MSCI Gulf Cooperation Council (GCC) Countries Indexes.

MSCI ACWI: The updated text abbreviates "Global Investable Market Indexes" to "GIMI™" and removes a spacing inconsistency in "Micro Cap Size-Segment." No review process, eligibility criterion, schedule, or affected security set changes. (Editorial)

2026-10-02T00:00:00Z

The updated text abbreviates "Global Investable Market Indexes" to "GIMI™" and removes a spacing inconsistency in "Micro Cap Size-Segment." No review process, eligibility criterion, schedule, or affected security set changes. Previous: As described in Section 3, during each Index Review, the Equity Universe is updated and all size-segments of the Global Investable Market Indexes are reviewed. The following index maintenance activities are undertaken as part of the Index Review for the Micro Cap Size- Segment: Updating the Micro Cap Minimum Size Requirement. Updated: As described in Section 3, during each Index Review, the Equity Universe is updated and all size-segments of the GIMI™ are reviewed. The following index maintenance activities are undertaken as part of the Index Review for the Micro Cap Size-Segment: Updating the Micro Cap Minimum Size Requirement.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: The MSCI All Cap Indexes encompass all constituents of the MSCI Global Investable Market Indexes as well as securities allocated to the MSCI Micro Cap Indexes. The construction of the MSCI Global Investable Market Indexes is described in detail in previous sections. Constructing the MSCI All Cap Indexes involves the following steps: Constructing Global Investable Market Indexes as described in earlier sections. Aggregating the Global Investable Market Indexes with the Micro Cap Indexes. The Micro Cap Size-Segment is constructed by including all securities which are not part of the Global Investable Market Indexes and meet the following requirements: Micro Cap Maximum Size Requirement. Updated: The MSCI All Cap Indexes encompass all constituents of the MSCI GIMI™ as well as securities allocated to the MSCI Micro Cap Indexes. The construction of the MSCI GIMI is described in detail in previous sections. Constructing the MSCI All Cap Indexes involves the following steps: Constructing GIMI as described in earlier sections. Aggregating the GIMI with the Micro Cap Indexes. The Micro Cap Size-Segment is constructed by including all securities which are not part of the GIMI and meet the following requirements: Micro Cap Maximum Size Requirement.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: This section should be read in conjunction with the earlier Section 2 ‘Constructing the MSCI Global Investable Market Indexes’ and Section 3 ‘Maintaining the MSCI Global Investable Market Indexes’. The calculation of the MSCI All Cap Indexes is currently limited to Developed Markets. Updated: This section should be read in conjunction with the earlier Section 2 ‘Constructing the MSCI GIMI™’ and Section 3 ‘Maintaining the MSCI GIMI’. The calculation of the MSCI All Cap Indexes is currently limited to Developed Markets.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: All changes resulting from corporate events are announced to clients prior to their implementation in the MSCI Global Investable Market Indexes. All additions and deletions of constituents of the MSCI Global Investable Market Indexes resulting from corporate events are also publicly announced prior to their implementation. Updated: All changes resulting from corporate events are announced to clients prior to their implementation in the MSCI GIMI™. All additions and deletions of constituents of the MSCI GIMI resulting from corporate events are also publicly announced prior to their implementation.

MSCI ACWI: The updated methodology adds an exception to the existing five-business-day deadline for amending Index Review changes. If new information emerges after that deadline but before the Index Review effective date, MSCI may now make amendments on shorter notice to minimize turnover or avoid replicability issues. (Major)

2026-10-02T00:00:00Z

The updated methodology adds an exception to the existing five-business-day deadline for amending Index Review changes. If new information emerges after that deadline but before the Index Review effective date, MSCI may now make amendments on shorter notice to minimize turnover or avoid replicability issues. Updated: In certain scenarios where new information emerges after this five-business-day deadline but prior to the Index Review effective date, MSCI may amend the Index Review changes on shorter notice in order to minimize turnover or avoid replicability issues.

MSCI ACWI: The updated section adds a footnote specifying a modified minimum float-adjusted market capitalization requirement for a post-event Standard Index constituent when its Foreign Inclusion Factor is below 0.15. It also replaces the full index-family name with “MSCI GIMI™” and makes formatting/line-break changes. (Minor)

2026-10-02T00:00:00Z

The updated section adds a footnote specifying a modified minimum float-adjusted market capitalization requirement for a post-event Standard Index constituent when its Foreign Inclusion Factor is below 0.15. It also replaces the full index-family name with “MSCI GIMI™” and makes formatting/line-break changes. Previous: When there is a corporate event affecting index constituents, non-index constituents that are involved in the event are considered for immediate inclusion in the MSCI Global Investable Market Indexes, as long as they meet all the index constituent eligibility rules and guidelines described in Sub-sections 2.2 and 2.4 with the exception of the length of trading and liquidity screens and minimum foreign room requirement. Such non-index constituents are treated as a continuation of index constituents and are subject to foreign room thresholds as defined in section 3.1.6.2 applicable for existing constituents. Updated: When there is a corporate event affecting index constituents, non-index constituents that are involved in the event are considered for immediate inclusion in the MSCI GIMI™, as long as they meet all the index constituent eligibility rules and guidelines described in Sub-sections 2.2 and 2.4 with the exception of the length of trading and liquidity screens and minimum foreign room requirement. Such non-index constituents are treated as a continuation of index constituents and are subject to foreign room thresholds as defined in section 3.1.6.2 applicable for existing constituents. 33 If the Standard Index constituent has a FIF lower than 0.15 after the event, the minimum float-adjusted market capitalization requirement is 2/3rd of the 1.8 times one half of the Standard Index Interim Size-Segment Cutoff.

MSCI ACWI: The updated section abbreviates MSCI Global Investable Market Indexes as “MSCI GIMI™” and reformats the corporate-event deletion list. It also removes the footnote stating the minimum float-adjusted market capitalization requirement for a Standard Index constituent whose FIF remains below 0.15 after an event. (Major)

2026-10-02T00:00:00Z

The updated section abbreviates MSCI Global Investable Market Indexes as “MSCI GIMI™” and reformats the corporate-event deletion list. It also removes the footnote stating the minimum float-adjusted market capitalization requirement for a Standard Index constituent whose FIF remains below 0.15 after an event. Previous: Securities may be considered for early deletions from MSCI Global Investable Market Indexes due to one of the following scenarios: Securities of companies that file for bankruptcy, companies that file for protection from their creditors and/or are suspended and for which a return to normal business activity and trading is unlikely in the near future. Securities may also be considered for an early deletion due to a corporate event when: The Foreign Inclusion Factor (FIF) of the security decreases or is expected to decrease below 0.1533. 33 If the Standard Index constituent has a FIF lower than 0.15 after the event, the minimum float-adjusted market capitalization requirement is 2/3rd of the 1.8 times one half of the Standard Index Interim Size-Segment Cutoff. Updated: Securities may be considered for early deletions from MSCI GIMI™ due to one of the following scenarios: Securities of companies that file for bankruptcy, companies that file for protection from their creditors and/or are suspended and for which a return to normal business activity and trading is unlikely in the near future. Securities may also be considered for an early deletion due to a corporate event when: The Foreign Inclusion Factor (FIF) of the security decreases or is expected to decrease below 0.1533.

MSCI ACWI: The updated section replaces the full name “MSCI Global Investable Market Indexes” with “MSCI GIMI™” or “MSCI GIMI,” and normalizes the spacing in “Large and Mid-Cap Indexes.” No corporate-event, style, industry-classification, or index-treatment rule changes. (Editorial)

2026-10-02T00:00:00Z

The updated section replaces the full name “MSCI Global Investable Market Indexes” with “MSCI GIMI™” or “MSCI GIMI,” and normalizes the spacing in “Large and Mid-Cap Indexes.” No corporate-event, style, industry-classification, or index-treatment rule changes. Previous: When a non-index constituent or a World Micro Cap Index constituent is added to the MSCI Global Investable Market Indexes due to a corporate event, or when a constituent of the MSCI Global Small Cap Indexes migrates upwards to the MSCI Global Standard Indexes, the industry classification of the security is reviewed and implemented simultaneously with the event. The industry classification is not reviewed when a security, including a security treated as the continuation of an existing index constituent, remains in the same Size-Segment Index (with the Large and Mid- Cap Indexes being considered as one size index) or migrates to a lower size-segment. Similarly, when a non-index constituent or a World Micro Cap Index constituent is added to the MSCI Global Investable Market Indexes due to a corporate event, or when a constituent of MSCI Global Small Cap Indexes migrates upwards to the MSCI Global Standard Indexes, the Style Segment of the security is reviewed and implemented simultaneously with the event. Updated: When a non-index constituent or a World Micro Cap Index constituent is added to the MSCI GIMI™ due to a corporate event, or when a constituent of the MSCI Global Small Cap Indexes migrates upwards to the MSCI Global Standard Indexes, the industry classification of the security is reviewed and implemented simultaneously with the event. The industry classification is not reviewed when a security, including a security treated as the continuation of an existing index constituent, remains in the same Size-Segment Index (with the Large and Mid-Cap Indexes being considered as one size index) or migrates to a lower size-segment. Similarly, when a non-index constituent or a World Micro Cap Index constituent is added to the MSCI GIMI due to a corporate event, or when a constituent of MSCI Global Small Cap Indexes migrates upwards to the MSCI Global Standard Indexes, the Style Segment of the security is reviewed and implemented simultaneously with the event.

MSCI ACWI: The methodology thresholds and corporate-event rules are unchanged. The update abbreviates product/index names with trademark symbols (GIMI™ and IMI™) and reformats/reorders the Small Cap row in the post-event size-segment table. (Editorial)

2026-10-02T00:00:00Z

The methodology thresholds and corporate-event rules are unchanged. The update abbreviates product/index names with trademark symbols (GIMI™ and IMI™) and reformats/reorders the Small Cap row in the post-event size-segment table. Previous: Corporate Event In order to reflect significant changes in the market capitalization of existing constituents in the Global Investable Market Indexes and in the World All Cap Indexes in a timely fashion while minimizing index turnover, the Size-Segment classification of a security is reviewed simultaneously with the event, if the market capitalization change implied by the event, including potential update in the number of shares for the security, is deemed significant. Moreover, to be added to the Investable Market Index, the securities must meet the minimum foreign room requirement for the Investable Market Index described in Sub-section 2.3.6.2: Minimum Foreign Room Requirement. > 0.15 > 0.5* Standard Cutoff Small Cap > 1.5*Standard Cutoff Standard < 0.15 >1.8 * 0.5 * Standard Cutoff Updated: Corporate Event In order to reflect significant changes in the market capitalization of existing constituents in the GIMI™ and in the World All Cap Indexes in a timely fashion while minimizing index turnover, the Size-Segment classification of a security is reviewed simultaneously with the event, if the market capitalization change implied by the event, including potential update in the number of shares for the security, is deemed significant. Moreover, to be added to the IMI™, the securities must meet the minimum foreign room requirement for the IMI described in Sub-section 2.3.6.2: Minimum Foreign Room Requirement. Small Cap > 1.5*Standard Cutoff > 0.15 > 0.5* Standard Cutoff Standard < 0.15 >1.8 * 0.5 * Standard Cutoff

MSCI ACWI: The updated text only inserts a space between "Canada" and footnote marker "3" in the sentence identifying eligible listed equity securities. No eligibility rule, covered security type, condition, or referenced criterion changes. (Editorial)

2026-10-02T00:00:00Z

The updated text only inserts a space between "Canada" and footnote marker "3" in the sentence identifying eligible listed equity securities. No eligibility rule, covered security type, condition, or referenced criterion changes. Previous: All listed equity securities, including Real Estate Investment Trusts (REITs)2 and certain income trusts listed in Canada3 are eligible for inclusion in the Equity Universe. Updated: All listed equity securities, including Real Estate Investment Trusts (REITs)2 and certain income trusts listed in Canada 3 are eligible for inclusion in the Equity Universe.

MSCI ACWI: The updated section removes the stray footnote/reference text “30 As described in section 3.2.7” and shortens “MSCI Global Investable Market Indexes Methodology” to “MSCI GIMI™ Methodology” (later “MSCI GIMI Methodology”). The substantive rules for implementing changes in FIF or number of shares, including thresholds, timing, and FOL deletion treatment, are unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated section removes the stray footnote/reference text “30 As described in section 3.2.7” and shortens “MSCI Global Investable Market Indexes Methodology” to “MSCI GIMI™ Methodology” (later “MSCI GIMI Methodology”). The substantive rules for implementing changes in FIF or number of shares, including thresholds, timing, and FOL deletion treatment, are unchanged. Previous: 30 As described in section 3.2.7 Such changes in Number of Shares and/or FIF that meet the implementation threshold defined in the MSCI Corporate Events Methodology, are implemented simultaneously with the event. However, if the implementation threshold is not met, such changes are considered for implementation at a subsequent Index Review, subject to the rules applicable for the Index Reviews in accordance with section 3.1.7 or 3.1.8 of the MSCI Global Investable Market Indexes Methodology. When subsequent public disclosure is made by the company regarding the new shareholder structure following the event implementation resulting in a different estimate than that calculated at the time of the event, MSCI will update the Number of Shares, and/or FIFs at the following regularly scheduled Index Review in accordance with section 3.1.7 or 3.1.8 of the MSCI Global Investable Market Indexes Methodology. Updated: Such changes in Number of Shares and/or FIF that meet the implementation threshold defined in the MSCI Corporate Events Methodology, are implemented simultaneously with the event. However, if the implementation threshold is not met, such changes are considered for implementation at a subsequent Index Review, subject to the rules applicable for the Index Reviews in accordance with section 3.1.7 or 3.1.8 of the MSCI GIMI™ Methodology. When subsequent public disclosure is made by the company regarding the new shareholder structure following the event implementation resulting in a different estimate than that calculated at the time of the event, MSCI will update the Number of Shares, and/or FIFs at the following regularly scheduled Index Review in accordance with section 3.1.7 or 3.1.8 of the MSCI GIMI Methodology.

MSCI ACWI: The substantive methodology for determining daily Interim Market Size-Segment Cutoffs is unchanged. The update reformats the bullet list and footnote spacing, abbreviates “Investable Market Indexes” as “IMI™ Indexes,” and adds the visible footnote text directing readers to section 3.2.7. (Editorial)

2026-10-02T00:00:00Z

The substantive methodology for determining daily Interim Market Size-Segment Cutoffs is unchanged. The update reformats the bullet list and footnote spacing, abbreviates “Investable Market Indexes” as “IMI™ Indexes,” and adds the visible footnote text directing readers to section 3.2.7. Previous: For the purpose of determining eligibility for early inclusion of securities, such as significant IPOs30, and/or assigning a company and its securities post a corporate event, e.g., mergers and spin-offs, to the appropriate Size-Segment Index an Interim Size-Segment Cutoff is used. To derive this number the following steps are followed: The Global Minimum Size References and Global Minimum Size Ranges of the Large Cap, the Standard, and the Investable Market Indexes are updated daily as described in Appendix X: Updating the Global Minimum Size References and Ranges. The Interim Market Size-Segment Cutoff is set to: - - The lower bound of the Global Minimum Size Range, if the Market Size-Segment Cutoff is below the lower bound. The upper bound of the Global Minimum Size Range, if the Market Size-Segment Cutoff is above the upper bound. - The Market Size-Segment Cutoff, if it is within the Global Minimum Size Range. The daily values for the Market Size-Segment Cutoffs, the Segment Number of Companies and the Global Minimum Size Range are based on data from the previous trading day. Updated: For the purpose of determining eligibility for early inclusion of securities, such as significant IPOs 30, and/or assigning a company and its securities post a corporate event, e.g., mergers and spin-offs, to the appropriate Size-Segment Index an Interim Size-Segment Cutoff is used. To derive this number the following steps are followed: The Global Minimum Size References and Global Minimum Size Ranges of the Large Cap, the Standard, and the IMI™ Indexes are updated daily as described in Appendix X: Updating the Global Minimum Size References and Ranges. The Interim Market Size-Segment Cutoff is set to: - The lower bound of the Global Minimum Size Range, if the Market Size-Segment Cutoff is below the lower bound. - The upper bound of the Global Minimum Size Range, if the Market Size-Segment Cutoff is above the upper - bound. The Market Size-Segment Cutoff, if it is within the Global Minimum Size Range. The daily values for the Market Size-Segment Cutoffs, the Segment Number of Companies and the Global Minimum Size Range are based on data from the previous trading day. 30 As described in section 3.2.7

MSCI ACWI: The updated section retains the same index review cutoff dates, business-day definition, extraordinary-event treatment, and ongoing-maintenance rules. The visible differences are formatting of bullet lists and footnote spacing, relocation of a sentence around footnote 29, and addition of trademark symbols to GIMI and IMI. (Editorial)

2026-10-02T00:00:00Z

The updated section retains the same index review cutoff dates, business-day definition, extraordinary-event treatment, and ongoing-maintenance rules. The visible differences are formatting of bullet lists and footnote spacing, relocation of a sentence around footnote 29, and addition of trademark symbols to GIMI and IMI. Previous: This is the relevant cutoff date for: - Data used to update the Equity Universe as per Sub-section 2.1: Defining the Equity Universe; - Data used for calculating the updated Equity Universe Minimum Size Requirement as per Sub-section 3.1.2.2: Updating the Equity Universe Minimum Size Requirement; Price Cutoff Date: any one of the last 10 business days 28 of January for the February Index Review, of April for the May Index Review, of July for the August Index Review and of October for the November Index Review. This is the relevant cutoff date for: - - Prices used for calculating market capitalization; Data used to update FIFs as per Sub-section 3.1.7: Index Review of changes in Foreign Inclusion Factors (FIFs); - - Data used to incorporate all foreign room changes. Data used to update NOS as per Sub-section 3.1.8: Index Review of changes in Number of Shares (NOS). A business day is defined as a day from Monday to Friday where markets cumulatively constituting more than 80% of the MSCI All Countries World Index free float-adjusted market capitalization are expected to be open on the basis of a security’s country of listing29. However, in cases of extraordinary events or news related to a specific company identified as a migration between the size-segments or as an addition to the IMI based on the Index Review Price Cutoff Date MSCI may decide not to change the company’s size-segment allocation. In such instances, the company would either be maintained in its current sizesegment or not added to the IMI. Examples of such extraordinary events or news are allegations of fraud, falsification of accounting data or news on a takeover bid resulting in a significant reduction (or increase) in company’s market capitalization between the Index Review Price Cutoff Date and the announcement date or/and in its suspension for an undetermined period. 29 Currently, only Stock Connect eligible China A shares are included in the MSCI GIMI. Updated: This is the relevant cutoff date for: - - Data used to update the Equity Universe as per Sub-section 2.1: Defining the Equity Universe; Data used for calculating the updated Equity Universe Minimum Size Requirement as per Sub-section 3.1.2.2: Updating the Equity Universe Minimum Size Requirement; Price Cutoff Date: any one of the last 10 business days28 of January for the February Index Review, of April for the May Index Review, of July for the August Index Review and of October for the November Index Review. This is the relevant cutoff date for: - Prices used for calculating market capitalization; - Data used to update FIFs as per Sub-section 3.1.7: Index Review of changes in Foreign Inclusion Factors (FIFs); - Data used to incorporate all foreign room changes. - Data used to update NOS as per Sub-section 3.1.8: Index Review of changes in Number of Shares (NOS). A business day is defined as a day from Monday to Friday where markets cumulatively constituting more than 80% of the MSCI All Countries World Index free float-adjusted market capitalization are expected to be open on the basis of a security’s country of listing 29. However, in cases of extraordinary events or news related to a specific company 29 Currently, only Stock Connect eligible China A shares are included in the MSCI GIMI™. identified as a migration between the size-segments or as an addition to the IMI™ based on the Index Review Price Cutoff Date MSCI may decide not to change the company’s size-segment allocation. In such instances, the company would either be maintained in its current sizesegment or not added to the IMI. Examples of such extraordinary events or news are allegations of fraud, falsification of accounting data or news on a takeover bid resulting in a significant reduction (or increase) in company’s market capitalization between the Index Review Price Cutoff Date and the announcement date or/and in its suspension for an undetermined period.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: All FIF changes are reflected for existing index constituents subject to the following: For securities with free float greater than 25%, FIF/DIF change is implemented only if the absolute change in free float compared to current index DIF is at least 2.5% For securities with free float between 5% and 25%, FIF/DIF change is implemented only if the absolute change in free float compared to current index DIF is at least 0.5% For securities with free float less than 5%, FIF/DIF change is implemented only if the absolute change in free float compared to current index DIF is at least 0.1% In addition, the above mentioned thresholds would not be applicable and all FIF changes are reflected for: Additions to the Standard/Small Cap Size-Segments, including migrations between these two size-segments as part of the Index Review Additions to the Micro Cap Index, including deletions from the IMI as part of the Index Review FOL change resulting in a FIF change; Updated: All FIF changes are reflected for existing index constituents subject to the following: For securities with free float greater than 25%, FIF/DIF change is implemented only if the absolute change in free float compared to current index DIF is at least 2.5% For securities with free float between 5% and 25%, FIF/DIF change is implemented only if the absolute change in free float compared to current index DIF is at least 0.5% For securities with free float less than 5%, FIF/DIF change is implemented only if the absolute change in free float compared to current index DIF is at least 0.1% In addition, the above mentioned thresholds would not be applicable and all FIF changes are reflected for: Additions to the Standard/Small Cap Size-Segments, including migrations between these two size-segments as part of the Index Review Additions to the Micro Cap Index, including deletions from the IMI™ as part of the Index Review FOL change resulting in a FIF change;

MSCI ACWI: MSCI adds a rule for existing IMI constituents experiencing an extreme price increase. If their FIF is below 0.75, they cannot migrate to the Standard Indexes; depending on 1.8x market-capitalization cutoff tests, they are either retained as Small Cap constituents or deleted from Small Cap while remaining in the investable universe for reassessment at the next Index Review. (Minor)

2026-10-02T00:00:00Z

MSCI adds a rule for existing IMI constituents experiencing an extreme price increase. If their FIF is below 0.75, they cannot migrate to the Standard Indexes; depending on 1.8x market-capitalization cutoff tests, they are either retained as Small Cap constituents or deleted from Small Cap while remaining in the investable universe for reassessment at the next Index Review. Updated: Existing IMI™ constituents that exhibit extreme price increase with a FIF below 0.75 will not be eligible for migration into the Standard Indexes and will be treated based on their market capitalization relative to the Standard Index Market Size-Segment Cutoffs: Existing IMI constituents whose full market capitalization is below 1.8 times the Standard Index Market Size-Segment Cutoff, or whose free float-adjusted market capitalization is below 1.8 times one-half of the Standard Index Market Size-Segment Cutoff, will be retained as Small Cap constituents. Existing IMI constituents whose full market capitalization is at least 1.8 times the Standard Index Market Size-Segment Cutoff, and whose free float-adjusted market capitalization is at least 1.8 times one-half of the Standard Index Market Size-Segment Cutoff, will not be added to the Standard Index and will be deleted from the Small Cap Index, while being retained in the market investable universe, to be re-evaluated for Standard Index inclusion at the next Index Review.

MSCI ACWI: The section has been narrowed and renumbered from the broader “For Existing Constituents” discussion to “Minimum Foreign Room Requirement for Existing Constituents.” The general existing-constituent free-float, size-segment migration, and extreme-price-increase rules were removed from this excerpt, while the foreign-room adjustment-factor rules remain substantively unchanged; the rest is formatting, footnote placement, and an IMI trademark change. (Editorial)

2026-10-02T00:00:00Z

The section has been narrowed and renumbered from the broader “For Existing Constituents” discussion to “Minimum Foreign Room Requirement for Existing Constituents.” The general existing-constituent free-float, size-segment migration, and extreme-price-increase rules were removed from this excerpt, while the foreign-room adjustment-factor rules remain substantively unchanged; the rest is formatting, footnote placement, and an IMI trademark change. Previous: Existing constituents may remain in the size-segment indexes if they would otherwise fail the additional investability requirements for Free Float Market Capitalization described in Section 2.3.6.1 but still meet 2/3rd of the threshold. Existing constituents of the Small Cap Index must have a FIF that is equal to or larger than 0.15 to remain in the index. Existing constituents of the Standard Index with FIF of less than 0.15 must meet 2/3rd of the 1.8 times of the minimum free float-adjusted market capitalization required for the Standard Index. Existing Standard Index constituents in the lower buffer that fail the additional investability requirements of the Standard Index are moved to the Small Cap Index. However, if the company has other investable securities that meet the additional investability requirements of the Standard Index, the company is retained in the Standard Size-Segment and the securities failing the final size-segment investability requirements are not included in any of the indexes within the MSCI Global Investable Market Indexes. Any other Standard Index constituent that fails these requirements is not included in any of the indexes within the MSCI Global Investable Market Indexes. Existing IMI constituents that exhibit extreme price increase (as per section 2.3.6.3) will not be eligible for migration into the Standard Indexes. Existing IMI constituents migrating into the Standard Index and exhibiting extreme price increase will be retained as Small Cap constituents. The post-review adjustment factor depends on the current adjustment factor and the actual level of foreign room of the securities, as shown in the table below: Post-review adjustment factor 0.25 0 If the foreign room of an existing constituent decreases below 3.75%, then the adjustment factor equals 0.25 In order to preserve index continuity, conformity with the minimum free float-adjusted market capitalization requirements for existing IMI Index constituents will be assessed using Updated: The post-review adjustment factor depends on the current adjustment factor and the actual level of foreign room of the securities, as shown in the table below: Post-review adjustment factor 0.25 0 If the foreign room of an existing constituent decreases below 3.75%, then the adjustment factor equals 0.25 In order to preserve index continuity, conformity with the minimum free float-adjusted market capitalization requirements for existing IMI™ Index constituents will be assessed using the free float-adjusted market capitalization before the application of the adjustment factor26. Foreign room level will be reviewed on a quarterly basis coinciding with the regular MSCI Index Reviews. Generally, an upward movement of the adjustment factor for existing constituents following a previous reduction in foreign room or index re-inclusion of a security deleted as a result of having a foreign room lower than 3.75% will only be considered 12 months from the effective date of the weight reduction or deletion. For example, to be considered for the May 2026 Index Review, the weight reduction or deletion should have been effective on or before the May 2025 Index Review); unless the upward movement of the adjustment factor is primarily 26 Please note that this treatment is also applicable in the cases when Liquidity Adjustment Factor is applied as described in the section 3.1.2.4 and 5.2.3.2 driven by a change in FOL and provided that the increase in FOL27 happened prior to the Price Cutoff Date of the previous Index Review described in Section 3.1.9.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Updated: Existing constituents may remain in the size-segment indexes if they would otherwise fail the additional investability requirements for Free Float Market Capitalization described in Section 2.3.6.1 but still meet 2/3rd of the threshold. Existing constituents of the Small Cap Index must have a FIF that is equal to or larger than 0.15 to remain in the index. Existing constituents of the Standard Index with FIF of less than 0.15 must meet 2/3rd of the 1.8 times of the minimum free float-adjusted market capitalization required for the Standard Index. Existing Standard Index constituents in the lower buffer that fail the additional investability requirements of the Standard Index are moved to the Small Cap Index. However, if the company has other investable securities that meet the additional investability requirements of the Standard Index, the company is retained in the Standard Size-Segment and the securities failing the final size-segment investability requirements are not included in any of the indexes within the MSCI GIMI™. Any other Standard Index constituent that fails these requirements is not included in any of the indexes within the MSCI GIMI.

MSCI ACWI: The updated text inserts footnote 24 stating that at “light” rebalancings, buffer zones are set at one half of and 1.8 times the Market Size-Segment Cutoff between two size-segments. The surrounding rules for new constituents, IPO timing, and when-issued trading are otherwise unchanged. (Major)

2026-10-02T00:00:00Z

The updated text inserts footnote 24 stating that at “light” rebalancings, buffer zones are set at one half of and 1.8 times the Market Size-Segment Cutoff between two size-segments. The surrounding rules for new constituents, IPO timing, and when-issued trading are otherwise unchanged. Previous: The securities of newly eligible companies and of companies migrating from the lower segment are required to meet the additional investability requirements as described in Sub-section 2.3.6: Applying Final Size-Segment Investability Requirements. Updated: The securities of newly eligible companies and of companies migrating from the lower segment are required to meet the additional investability 24 At “light” rebalancings, the buffer zones are set at one half of and 1.8 times the Market Size-Segment Cutoff between two size-segments. requirements as described in Sub-section 2.3.6: Applying Final Size-Segment Investability Requirements.

MSCI ACWI: The updated section relocates a misplaced footnote marker, standardizes IMI naming and hyphenation, and rewords "Investable Market Index(es)" references to "IMI." It also removes the prior footnote stating that buffer zones are one half and 1.8 times the cutoff at light rebalancings; no replacement light-rebalancing rule appears in the updated excerpt. (Major)

2026-10-02T00:00:00Z

The updated section relocates a misplaced footnote marker, standardizes IMI naming and hyphenation, and rewords "Investable Market Index(es)" references to "IMI." It also removes the prior footnote stating that buffer zones are one half and 1.8 times the cutoff at light rebalancings; no replacement light-rebalancing rule appears in the updated excerpt. Previous: Indexes In order to better reflect the investment processes of size managers, allow for timely representation of market developments when securities move far away from size-segment 23 Buffer zones for Size-Segments are explained in more detail in Section 3.1.5.1 thresholds, and help control index turnover, buffer zones are used to control the migration of companies between Size-Segment Indexes. The buffer zones at Index Reviews are defined with boundaries of 2/3rd of and 1.5 times the Market Size-Segment Cutoff between two size-segments24. In addition, a Small Cap Entry Buffer Zone is used for the entry in the Small Cap Indexes of noncurrent constituents of the IMI. It is defined with a boundary of 1.5 times the Market Size- Segment Cutoff for the Investable Market Index. Consequently, noncurrent constituents of the IMI within the Small Cap Entry Buffer Zone which are assigned to the Small Cap Segment are included in the Small Cap Indexes only to the extent that they replace current constituents which have fallen below the Small Cap Lower Buffer. The remaining companies are not included in the Investable Market Indexes but are still taken into account to determine the Segment Number of Companies. 24 At “light” rebalancings, the buffer zones are set at one half of and 1.8 times the Market Size-Segment Cutoff between two size-segments. Updated: Indexes In order to better reflect the investment processes of size managers, allow for timely representation of market developments when securities move far away from size-segment thresholds, and help control index turnover, buffer zones are used to control the migration of companies between Size-Segment Indexes. The buffer zones at Index Reviews 23 Buffer zones for Size-Segments are explained in more detail in Section 3.1.5.1 are defined with boundaries of 2/3rd of and 1.5 times the Market Size-Segment Cutoff between two size-segments24. In addition, a Small Cap Entry Buffer Zone is used for the entry in the Small Cap Indexes of noncurrent constituents of the IMI™. It is defined with a boundary of 1.5 times the Market Size- Segment Cutoff for the IMI. Consequently, non-current constituents of the IMI within the Small Cap Entry Buffer Zone which are assigned to the Small Cap Segment are included in the Small Cap Indexes only to the extent that they replace current constituents which have fallen below the Small Cap Lower Buffer. The remaining companies are not included in the IMI indexes but are still taken into account to determine the Segment Number of Companies.

MSCI ACWI: The updated text only changes spacing around footnote reference "23" and line breaks/hyphenation in the bulleted list describing companies above the upper buffer threshold. The eligibility conditions and assignment priorities remain substantively unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated text only changes spacing around footnote reference "23" and line breaks/hyphenation in the bulleted list describing companies above the upper buffer threshold. The eligibility conditions and assignment priorities remain substantively unchanged. Previous: Companies greater than the upper buffer threshold23 of the lower Size-Segment that are: - - Currently in the lower Size-Segment Index or Assigned to this Size-Segment during last Index Review and failed the Final Size-Segment Investability Requirement or - Investable companies during last Index Review that were not assigned to any Size-Segment. Updated: Companies greater than the upper buffer threshold 23 of the lower Size-Segment that are: - Currently in the lower Size-Segment Index or - Assigned to this Size-Segment during last Index Review and failed the Final Size-Segment Investability - Requirement or Investable companies during last Index Review that were not assigned to any Size-Segment.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: The MSCI Global Investable Markets Indexes are constructed and maintained at an individual Market1 level. Constructing the MSCI Global Investable Market Indexes involves the following steps: Defining the Equity Universe for each Market. Updated: The MSCI GIMI™ are constructed and maintained at an individual Market1 level. Constructing the MSCI GIMI involves the following steps: Defining the Equity Universe for each Market.

MSCI ACWI: The updated section adds footnote 20 explaining how the Interim Market Size-Segment Cutoff is calculated during an Index Review, including post-review shares and Foreign Inclusion Factors, no Global Minimum Size Range cap, and a floor at the Equity Universe Minimum Size Requirement. The remaining changes are line breaks, diagram text ordering, footnote placement, and relocation of the small-market deletion rule without changing its wording. (Minor)

2026-10-02T00:00:00Z

The updated section adds footnote 20 explaining how the Interim Market Size-Segment Cutoff is calculated during an Index Review, including post-review shares and Foreign Inclusion Factors, no Global Minimum Size Range cap, and a floor at the Equity Universe Minimum Size Requirement. The remaining changes are line breaks, diagram text ordering, footnote placement, and relocation of the small-market deletion rule without changing its wording. Previous: The full market capitalization of the company ranked in the updated Market Investable Equity Universe at the Initial Segment Number of Companies and the cumulative free float-adjusted market capitalization coverage at this company rank are used to verify that the Initial Segment Number of Companies falls either: within the Size and Coverage Target Area for the Size-Segment Index or within the Lower or Upper Size Range Boundary Proximity Areas, which span from 0.5 times to 0.575 times and from one time to 1.15 times the Global Minimum Size Reference respectively (please refer to the diagram below for more details). Changing Segment Number of Companies Full Market Capitalization Nb. of Companies 1.15x GMSR Upper Size Range Boundary Proximity Area GMSR 80% 85% 90% Cumulative Free Float-Adjusted Market Coverage Range, no further adjustment is necessary. If not, then a reduction of not more than 20% of the Initial Segment Number of Companies is made to remove at most half the free float-adjusted market capitalization that lies between the smallest company before adjusting the Initial Segment Number of Companies and the lower bound. - In market segments with a small number of companies, the deletion of the first two companies is not subject to - the limits described above. 22 When a limit is placed on the decrease in the number of companies, as explained above, the full market capitalization of the smallest company in the index will remain below the lower boundary of the Global Minimum Size Range. In this case, the Market Size-Segment Cutoff is set at this lower bound of 0.5 times the Global Minimum Size Reference instead of the size of the smallest company. Updated: The full market capitalization of the company ranked in the updated Market Investable Equity Universe at the Initial Segment Number of Companies and the cumulative free float-adjusted market capitalization coverage at this company rank are used to verify that the Initial Segment Number of Companies falls either: within the Size and Coverage Target Area for the Size-Segment Index or 20 The Interim Market Size-Segment Cutoff during an Index Review is calculated the same way as the Interim Market Size- Segment Cutoffs, which are reported daily, however the Number of Shares and Foreign Inclusion factor post Index Review are used in the calculations and the value is not limited by the Global Minimum Size Range. Furthermore, if the Interim Market Size-Segment Cutoff is lower than the Equity Universe Minimum Size Requirement, then the Interim Market Size-Segment Cutoff is set to the Equity Universe Minimum Size Requirement. within the Lower or Upper Size Range Boundary Proximity Areas, which span from 0.5 times to 0.575 times and from one time to 1.15 times the Global Minimum Size Reference respectively (please refer to the diagram below for more details). Changing Segment Number of Companies Full Market Capitalization Nb. of Companies 1.15x GMSR Upper Size Range Boundary Proximity Area GMSR 90% 80% 85% Cumulative Free Float-Adjusted Market Coverage Range, no further adjustment is necessary. If not, then a reduction of not more than 20% of the Initial Segment Number of Companies is made to remove at most half the free float-adjusted market capitalization that lies between the smallest company before adjusting the - Initial Segment Number of Companies and the lower bound. In market segments with a small number of companies, the deletion of the first two companies is not subject to the limits described above. 22 - When a limit is placed on the decrease in the number of companies, as explained above, the full market capitalization of the smallest company in the index will rem

MSCI ACWI: The updated section removes footnote 20 defining how the Interim Market Size-Segment Cutoff is calculated during an Index Review, including the use of post-review Number of Shares and Foreign Inclusion Factor, the absence of limitation by the Global Minimum Size Range, and the floor at the Equity Universe Minimum Size Requirement. The main rules for determining the Initial Segment Number of Companies are unchanged. (Minor)

2026-10-02T00:00:00Z

The updated section removes footnote 20 defining how the Interim Market Size-Segment Cutoff is calculated during an Index Review, including the use of post-review Number of Shares and Foreign Inclusion Factor, the absence of limitation by the Global Minimum Size Range, and the floor at the Equity Universe Minimum Size Requirement. The main rules for determining the Initial Segment Number of Companies are unchanged. Previous: 20 The Interim Market Size-Segment Cutoff during an Index Review is calculated the same way as the Interim Market Size- Segment Cutoffs, which are reported daily, however the Number of Shares and Foreign Inclusion factor post Index Review are used in the calculations and the value is not limited by the Global Minimum Size Range. Furthermore, if the Interim Market Size-Segment Cutoff is lower than the Equity Universe Minimum Size Requirement, then the Interim Market Size-Segment Cutoff is set to the Equity Universe Minimum Size Requirement.

MSCI ACWI: The section was reformatted and terminology was abbreviated from “Investable Market Indexes” to “IMI”/“IMI™,” with a trademark added to “GIMI™.” The liquidity thresholds, listing-priority rules, 0.5 Liquidity Adjustment Factor, deletion and retention conditions remain substantively unchanged. (Editorial)

2026-10-02T00:00:00Z

The section was reformatted and terminology was abbreviated from “Investable Market Indexes” to “IMI”/“IMI™,” with a trademark added to “GIMI™.” The liquidity thresholds, listing-priority rules, 0.5 Liquidity Adjustment Factor, deletion and retention conditions remain substantively unchanged. Previous: Non constituents of the Investable Market Indexes are evaluated relative to the thresholds described in section 2.2.5. An existing constituent of the Investable Market Indexes may remain in a Market Investable Equity Universe if its 12-month ATVR falls below the Minimum Liquidity Requirement as long as it is above 2/3rd of the minimum level requirement of 20% for Developed Markets and 15% for Emerging Markets, i.e., 13.3% and 10%, respectively. In addition, in order to remain in the Investable Market Indexes the existing constituent must have: The 3-month ATVR of at least 5%; If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing17 Foreign listing in the same geographical region 18 Foreign listing in a different geographical region 19. However, MSCI would apply a Liquidity Adjustment Factor of 0.5 to the weight of the security, and in the subsequent Index Review, MSCI: Would delete the security from the index if the security does not meet all liquidity requirements for existing constituents calculated after applying the Liquidity Adjustment Factor or; Would maintain the security in the GIMI and remove the Liquidity Adjustment Factor if the security meets all the liquidity requirements for new constituents, calculated before applying the Liquidity Adjustment Factor for three consecutive Index Reviews or; Updated: Non constituents of the IMI™ indexes are evaluated relative to the thresholds described in section 2.2.5. An existing constituent of the IMI may remain in a Market Investable Equity Universe if its 12month ATVR falls below the Minimum Liquidity Requirement as long as it is above 2/3rd of the minimum level requirement of 20% for Developed Markets and 15% for Emerging Markets, i.e., 13.3% and 10%, respectively. In addition, in order to remain in the IMI the existing constituent must have: The 3-month ATVR of at least 5%; If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing17 Foreign listing in the same geographical region18 Foreign listing in a different geographical region19. However, MSCI would apply a Liquidity Adjustment Factor of 0.5 to the weight of the security, and in the subsequent Index Review, MSCI: Would delete the security from the index if the security does not meet all liquidity requirements for existing constituents calculated after applying the Liquidity Adjustment Factor or; Would maintain the security in the GIMI™ and remove the Liquidity Adjustment Factor if the security meets all the liquidity requirements for new constituents, calculated before applying the Liquidity Adjustment Factor for three consecutive Index Reviews or;

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Non constituents of the IMI are evaluated relative to this updated threshold, whereas all existing constituents will not be evaluated relative to this investability requirement. Updated: Non constituents of the IMI™ indexes are evaluated relative to this updated threshold, whereas all existing constituents will not be evaluated relative to this investability requirement.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: During each Index Review, the Market Investable Equity Universes are updated by: Reviewing the list of countries in which securities may be represented by foreign listings Evaluating each security that is not a constituent of the Investable Market Indexes for investability using the same investability screens described in Sub-section 2.2: Determining the Market Investable Equity Universes. Existing constituents of the Investable Market Indexes, on the other hand, are evaluated using buffers around these investability requirements as explained below. Updated: During each Index Review, the Market Investable Equity Universes are updated by: Reviewing the list of countries in which securities may be represented by foreign listings Evaluating each security that is not a constituent of the IMI™ indexes for investability using the same investability screens described in Sub-section 2.2: Determining the Market Investable Equity Universes. Existing constituents of the IMI indexes, on the other hand, are evaluated using buffers around these investability requirements as explained below.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Then, the following index maintenance activities are undertaken for each market: Updating the Market Investable Equity Universe Recalculating the Global Minimum Size References and Global Minimum Size Ranges Reassessing the Segment Number of Companies and the Market Size-Segment Cutoffs Assigning companies to the size-segments taking into account buffer zones Assessing conformity with Final Size-Segment Investability Requirements The MSCI Global Investable Market Indexes may follow light rebalancing rules (Light Rebalancing) at an Index Review if the criteria set in Appendix VIII: Market Monitoring Framework and Potential Switch to a Light Rebalancing under Conditions of Market Stress are met Updated: Then, the following index maintenance activities are undertaken for each market: Updating the Market Investable Equity Universe Recalculating the Global Minimum Size References and Global Minimum Size Ranges Reassessing the Segment Number of Companies and the Market Size-Segment Cutoffs Assigning companies to the size-segments taking into account buffer zones Assessing conformity with Final Size-Segment Investability Requirements The MSCI GIMI™ may follow light rebalancing rules (Light Rebalancing) at an Index Review if the criteria set in Appendix VIII: Market Monitoring Framework and Potential Switch to a Light Rebalancing under Conditions of Market Stress are met

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: The MSCI Global Investable Market Indexes are maintained with the objective of reflecting the evolution of the underlying equity markets and segments on a timely basis, while seeking to achieve: Index continuity, Continuous investability of constituents and replicability of the indexes, and Index stability and low index turnover. Any index constructed on the basis of the GIMI methodology may be subject to potential concentration and other limitations resulting from changes in the underlying markets. Updated: The MSCI GIMI™ indexes are maintained with the objective of reflecting the evolution of the underlying equity markets and segments on a timely basis, while seeking to achieve: Index continuity, Continuous investability of constituents and replicability of the indexes, and Index stability and low index turnover. Any index constructed on the basis of the GIMI™ methodology may be subject to potential concentration and other limitations resulting from changes in the underlying markets.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Narrower Indexes may be derived from each MSCI Market, Regional or Composite Indexes based on the industry classification of each company as defined by the Global Industry Classification Standard (GICS). The indexes may contain securities belonging to specific Sectors, Industry Groups, Industries, Sub-Industries or a combination of these. For example, MSCI Japan Energy Index, MSCI Japan Media Index, MSCI Japan Financials Index. Updated: Narrower Indexes may be derived from each MSCI Market, Regional or Composite Indexes based on the industry classification of each company as defined by the Global Industry Classification Standard (GICS). The indexes may contain securities belonging to specific Sectors, Industry Groups, Industries, Sub-Industries or a combination of these. For example, MSCI Japan Energy Index, MSCI Japan Media Index, MSCI Japan Financials Index.

MSCI ACWI: The updated text only inserts a space between "Market Classification" and footnote marker "14." No rule, index construction criterion, example, or reference target changes. (Editorial)

2026-10-02T00:00:00Z

The updated text only inserts a space between "Market Classification" and footnote marker "14." No rule, index construction criterion, example, or reference target changes. Previous: Market Indexes can be grouped either on the basis of Market Classification14 definition, geographical regions, economic regions or other criteria. Updated: Market Indexes can be grouped either on the basis of Market Classification 14 definition, geographical regions, economic regions or other criteria.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: The MSCI Investable Market Indexes are composed of the MSCI Standard Indexes and the MSCI Small Cap Indexes. For example, the MSCI USA IMI, MSCI USA Index, MSCI USA Large Cap Index, MSCI USA Mid Cap Index, MSCI USA Small Cap Index. Updated: The MSCI IMI™ Indexes are composed of the MSCI Standard Indexes and the MSCI Small Cap Indexes. For example, the MSCI USA IMI™, MSCI USA Index, MSCI USA Large Cap Index, MSCI USA Mid Cap Index, MSCI USA Small Cap Index.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: The MSCI Standard and MSCI Small Cap Indexes, along with the other MSCI equity indexes based on them, transitioned to the Global Investable Market Indexes methodology described in this methodology book. The MSCI Global Small Cap Index transitioned to the MSCI Small Cap Index resulting from the Global Investable Market Indexes methodology and contains no overlap with constituents of the transitioned MSCI Standard Indexes. Together, the relevant MSCI Large Cap, Mid Cap and Small Cap Indexes make up the MSCI Investable Market Index for each country, composite, sector, and style index that MSCI offers. Based on transparent and objective rules, the Global Investable Market Indexes are intended to provide: Exhaustive coverage of the investable opportunity set with non-overlapping size and style segmentation. A complete and consistent set of Size-Segment Indexes, with Standard, Large Cap, Mid Cap, Small Cap, and Investable Market Indexes. In addition to the innovations listed above, the Global Investable Market Indexes methodology retained many of the features of the original methodology, such as: The use of a building block approach to permit the creation and calculation of meaningful composites. Updated: The MSCI Standard and MSCI Small Cap Indexes, along with the other MSCI equity indexes based on them, transitioned to the GIMI™ methodology described in this methodology book. The MSCI Global Small Cap Index transitioned to the MSCI Small Cap Index resulting from the GIMI methodology and contains no overlap with constituents of the transitioned MSCI Standard Indexes. Together, the relevant MSCI Large Cap, Mid Cap and Small Cap Indexes make up the MSCI IMI™ for each country, composite, sector, and style index that MSCI offers. Based on transparent and objective rules, the GIMI are intended to provide: Exhaustive coverage of the investable opportunity set with non-overlapping size and style segmentation. A complete and consistent set of Size-Segment Indexes, with Standard, Large Cap, Mid Cap, Small Cap, and IMI. In addition to the innovations listed above, the GIMI methodology retained many of the features of the original methodology, such as: The use of a building block approach to permit the creation and calculation of meaningful composites.

MSCI ACWI: The provided text removes the stray running heading fragment “Markets Indexes” and shortens the section title from “MSCI Global Investable Markets Indexes” to “MSCI GIMI™ Indexes.” No index methodology rule, threshold, process, or affected security set is changed in the supplied passage. (Editorial)

2026-10-02T00:00:00Z

The provided text removes the stray running heading fragment “Markets Indexes” and shortens the section title from “MSCI Global Investable Markets Indexes” to “MSCI GIMI™ Indexes.” No index methodology rule, threshold, process, or affected security set is changed in the supplied passage. Previous: Markets Indexes

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Also such indexes may be discontinued if there are no constituents left in accordance with the MSCI GIMI methodology. Updated: Also such indexes may be discontinued if there are no constituents left in accordance with the MSCI GIMI™ methodology.

MSCI ACWI: The EPI rule is restructured and now expressly exempts securities with a FIF of at least 0.75 from the EPI screen. The exclusion is narrowed to non-IMI constituents that exhibit EPI, have FIF below 0.75, and otherwise meet Standard Index inclusion requirements; the monitoring-period thresholds and excess-return calculation are unchanged. (Minor)

2026-10-02T00:00:00Z

The EPI rule is restructured and now expressly exempts securities with a FIF of at least 0.75 from the EPI screen. The exclusion is narrowed to non-IMI constituents that exhibit EPI, have FIF below 0.75, and otherwise meet Standard Index inclusion requirements; the monitoring-period thresholds and excess-return calculation are unchanged. Previous: Securities that exhibit extreme price increase will not be eligible for addition into the Standard Indexes but will continue to be considered as part of the market investable universe. Such securities would be re-evaluated for Standard Index inclusion in the subsequent Index Review using Standard Index inclusion criteria, including the return-based thresholds for extreme price increase as described below. For additions to the Standard indexes, MSCI will evaluate their excess returns for specific monitoring periods against relevant thresholds as per the below table. A security that breaches the threshold of any period is considered to exhibit extreme price increase. Monitoring Periods and Thresholds for Extreme Price Increase Period* 5D 10D 15D 20D 25D 30D 35D 40D 45D 50D 55D 60D Excess Returns 100% 100% 100% 100% 200% 200% 200% 200% 400% 400% 400% 400% Threshold Period* 90D 120D 150D 180D 250D Excess Returns 500% 800% 1500% 1500% 2500% Threshold * Number of days (Mon-Fri) prior to the price cutoff date of the Index Review ** The extended measurement period of 90D, 120D, 150D, 180D and 250D is effective from May 2024 Index Review Excess return is calculated as the difference between the return of a security for the relevant period and the average return of IMI constituents belonging to the same country-sector where the security is classified (in terms of country of classification and GICS classification at the sector level). Updated: For additions to the Standard indexes, MSCI will evaluate the excess returns over specific monitoring periods against the relevant thresholds set out in the table below. A security that breaches the threshold of any period is considered to exhibit extreme price increase (EPI). Excess return is calculated as the difference between the return of a security for the relevant period and the average return of IMI™ constituents belonging to the same country-sector where the security is classified (in terms of country of classification and GICS classification at the sector level). Monitoring Periods and Thresholds for Extreme Price Increase: Period* 5D 10D 15D 20D 25D 30D 35D 40D 45D 50D 55D 60D Excess Returns 100% 100% 100% 100% 200% 200% 200% 200% 400% 400% 400% 400% Threshold Period* 90D 120D 150D 180D 250D Excess 500% 800% 1500% 1500% 2500% Returns Threshold * Number of days (Mon-Fri) prior to the price cutoff date of the Index Review ** The extended measurement period of 90D, 120D, 150D, 180D and 250D is effective from May 2024 Index Review Securities with a Foreign Inclusion Factor (FIF) of at least 0.75 are not subject to EPI screens. Non-constituents of the IMI that exhibit EPI with a FIF below 0.75 and meet all other Standard Index inclusion requirements will not be added to the Standard Index and will be retained in the market investable universe. In all cases where a security is not added to the Standard Index due to EPI, it will be reevaluated for Standard Index inclusion at the subsequent Index Review using Standard Index inclusion criteria, including the return-based thresholds for Extreme Price Increase as described above.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: For a security that is subject to a Foreign Ownership Limit (FOL) to be included in the Investable Market Index at its entire free-float adjusted market capitalization, the proportion of shares still available to foreign investors relative to the maximum allowed (referred to as “foreign room”) must be at least 25%. Conformity with the minimum free float-adjusted market capitalization requirements for Investable Market Index constituents will be assessed using the free float-adjusted market capitalization before the application of the adjustment factor. Updated: For a security that is subject to a Foreign Ownership Limit (FOL) to be included in the IMI™ at its entire free-float adjusted market capitalization, the proportion of shares still available to foreign investors relative to the maximum allowed (referred to as “foreign room”) must be at least 25%. Conformity with the minimum free float-adjusted market capitalization requirements for IMI constituents will be assessed using the free float-adjusted market capitalization before the application of the adjustment factor.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: If the Market Size-Segment Cutoff is within the Global Minimum Size Range for the Investable Market Index, a security can be included in the Investable Market Index only if its free floatadjusted market capitalization is at least 50% of the Market Size-Segment Cutoff for the Investable Market Index. In the case of the Market Size-Segment Cutoff being above the Global Minimum Size Range upper boundary for the Investable Market Index, the security’s free floatadjusted market capitalization must be at least 50% of the upper boundary of the Global Minimum Size Range for the Investable Market Index. In the case of the Market Size-Segment Cutoff being below the Global Minimum Size Range lower boundary for the Investable Market Index, the security’s free float-adjusted market capitalization must be at least 50% of the lower boundary of the Global Minimum Size Range for the Investable Market Index. Any company excluded from the Standard Index based on this rule is also excluded from the Investable Market Index. Updated: If the Market Size-Segment Cutoff is within the Global Minimum Size Range for the IMI™, a security can be included in the IMI only if its free float-adjusted market capitalization is at least 50% of the Market Size-Segment Cutoff for the IMI. In the case of the Market Size-Segment Cutoff being above the Global Minimum Size Range upper boundary for the IMI, the security’s free float-adjusted market capitalization must be at least 50% of the upper boundary of the Global Minimum Size Range for the IMI. In the case of the Market Size-Segment Cutoff being below the Global Minimum Size Range lower boundary for the IMI, the security’s free floatadjusted market capitalization must be at least 50% of the lower boundary of the Global Minimum Size Range for the IMI. Any company excluded from the Standard Index based on this rule is also excluded from the IMI.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: To enhance the replicability of Size-Segment Indexes, additional size-segment investability requirements are set for the Investable Market and the Standard Indexes. Updated: To enhance the replicability of Size-Segment Indexes, additional size-segment investability requirements are set for the IMI™ and the Standard Indexes.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: MSCI notes the respective full market capitalization of the companies that provide the following free float-adjusted market capitalization coverage for the relevant size-segments: - Large Cap Index: 70% - Standard Index: 85% - Investable Market Index: 99% If the full market capitalization of the relevant company lies within the Global Minimum Size Range for the size-segment, then: - The full market capitalization of the relevant company defines the Market Size-Segment Cutoff for that size- For the Investable Market Index, at initial construction, the above process is not followed in order to provide as broad a coverage as possible without sacrificing size integrity. At initial construction the Market Size-Segment Cutoffs and associated Segment Number of Companies of the Investable Market segment are derived by including all companies equal to or larger than the Global Minimum Size Reference for the Investable Market Indexes. Updated: MSCI notes the respective full market capitalization of the companies that provide the following free float-adjusted market capitalization coverage for the relevant size-segments: - Large Cap Index: 70% - Standard Index: 85% - IMI™: 99% If the full market capitalization of the relevant company lies within the Global Minimum Size Range for the size-segment, then: - The full market capitalization of the relevant company defines the Market Size-Segment Cutoff for that size- For the IMI™, at initial construction, the above process is not followed in order to provide as broad a coverage as possible without sacrificing size integrity. At initial construction the Market Size-Segment Cutoffs and associated Segment Number of Companies of the Investable Market segment are derived by including all companies equal to or larger than the Global Minimum Size Reference for the IMI.

MSCI ACWI: The Global Minimum Size Reference values were refreshed from April 20, 2026 / May-26 figures to July 20, 2026 / Aug-26 figures. The DM Standard reference increased from USD 15.75 billion to USD 16.28 billion, with corresponding increases in the DM and EM Standard ranges and in the size-segment reference table; the 70%, 85%, and 99% coverage methodology and 0.5x–1.15x range factors did not change. The updated text also abbreviates “DM Investable Market Index” as “DM IMI™” and reformats the bullet list. (Minor)

2026-10-02T00:00:00Z

The Global Minimum Size Reference values were refreshed from April 20, 2026 / May-26 figures to July 20, 2026 / Aug-26 figures. The DM Standard reference increased from USD 15.75 billion to USD 16.28 billion, with corresponding increases in the DM and EM Standard ranges and in the size-segment reference table; the 70%, 85%, and 99% coverage methodology and 0.5x–1.15x range factors did not change. The updated text also abbreviates “DM Investable Market Index” as “DM IMI™” and reformats the bullet list. Previous: Then, the respective full market capitalizations of the companies that provide the following cumulative free float-adjusted market capitalization coverage of the DM Investable Equity Universe are chosen: - DM Large Cap Index: 70% coverage - DM Standard Index: 85% coverage - DM Investable Market Index: 99% coverage The Global Minimum Size References for the Large Cap, Standard, and Investable Market segments, based on April 20, 2026 data, are set forth below. The full market capitalization of the company that provides at least an 85% cumulative free float-adjusted coverage of the DM Investable Equity Universe is USD 15.75 billion. 0.5 times to 1.15 times to this Global Minimum Size Reference gives the Global Minimum Size Range of USD 7.87 billion to USD 18.11 billion for the DM Standard Indexes. The EM range for the Standard Indexes, therefore, is USD 3.94 billion to USD 9.06 billion. Global Minimum Size Reference Percent of Free Float Investable Equity Developed Markets Emerging Markets Frontier Markets Adjusted Market Universe Global Minimum Global Minimum Size Global Minimum Coverage Size Reference Reference (50% of DM) Size Reference May-26 May-26 May-26 Universe Large Cap 70% 51,345 25,672 1,252 Mid Cap 85% 15,748 7,874 465 Small Cap 99% 1,187 594 32 All market caps are in USD millions. Data as of the close of April 20, 2026 The Developed Markets and Frontier Markets Global Minimum Size References are calculated based on the Developed Markets and Frontier Markets Investable Equity Universes, respectively. Updated: Then, the respective full market capitalizations of the companies that provide the following cumulative free float-adjusted market capitalization coverage of the DM Investable Equity Universe are chosen: - DM Large Cap Index: 70% coverage - DM Standard Index: 85% coverage - DM IMI™: 99% coverage The Global Minimum Size References for the Large Cap, Standard, and Investable Market segments, based on July 20, 2026 data, are set forth below. The full market capitalization of the company that provides at least an 85% cumulative free float-adjusted coverage of the DM Investable Equity Universe is USD 16.28 billion. 0.5 times to 1.15 times to this Global Minimum Size Reference gives the Global Minimum Size Range of USD 8.14 billion to USD 18.72 billion for the DM Standard Indexes. The EM range for the Standard Indexes, therefore, is USD 4.07 billion to USD 9.36 billion. Global Minimum Size Reference Percent of Free Float Investable Equity Developed Markets Emerging Markets Frontier Markets Adjusted Market Universe Global Minimum Global Minimum Size Global Minimum Coverage Size Reference Reference (50% of DM) Size Reference Aug-26 Aug-26 Aug-26 Universe Large Cap 70% 53,878 26,939 1,283 Mid Cap 85% 16,276 8,138 473 Small Cap 99% 1,234 617 31 All market caps are in USD millions. Data as of the close of July 20, 2026 The Developed Markets and Frontier Markets Global Minimum Size References are calculated based on the Developed Markets and Frontier Markets Investable Equity Universes, respectively.

MSCI ACWI: The disclaimer was edited only in legal/notice language. “Derivative works” was changed to “derivatives,” and a trademark statement was added for ACWI, EAFE, IMI, GIMI, and the MSCI IMI family of index names. No index methodology, eligibility, calculation, review, or corporate-action rule changed. (Editorial)

2026-10-02T00:00:00Z

The disclaimer was edited only in legal/notice language. “Derivative works” was changed to “derivatives,” and a trademark statement was added for ACWI, EAFE, IMI, GIMI, and the MSCI IMI family of index names. No index methodology, eligibility, calculation, review, or corporate-action rule changed. Previous: KIIDs or KIDs), (vii) to create or as a component of any financial products, whether listed or traded over the counter or on a private placement basis or otherwise, (viii) to create any indexes, ratings or other data products, including in derivative works combined with other indexes or data or as a policy, product or performance benchmarks for active, passive or other financial products, (ix) to populate a database, or (x) to train, use as an input to, or otherwise in connection with any artificial intelligence, machine learning, large language models or similar technologies except as licensed and expressly authorized under MSCI’s AI Contracting Supplement at https://www.msci.com/legal/supplemental-terms-for-client-use-of-artificial-intelligence. The intellectual property rights of MSCI and its Information Providers may not be misappropriated or used in a competitive manner through the use of thirdparty data or financial products linked to the Information, including by using an MSCI index-linked future or option in a competing third-party index to provide an exposure to the underlying MSCI index or by using an MSCI index-linked ETF to create a financial product that provides an exposure to the underlying MSCI index without obtaining a license from MSCI. You may not remove, alter, or obscure any attribution to MSCI or notices or disclaimers that apply to the Information. Updated: KIIDs or KIDs), (vii) to create or as a component of any financial products, whether listed or traded over the counter or on a private placement basis or otherwise, (viii) to create any indexes, ratings or other data products, including in derivatives combined with other indexes or data or as a policy, product or performance benchmarks for active, passive or other financial products, (ix) to populate a database, or (x) to train, use as an input to, or otherwise in connection with any artificial intelligence, machine learning, large language models or similar technologies except as licensed and expressly authorized under MSCI’s AI Contracting Supplement at https://www.msci.com/legal/supplemental-terms-for-client-use-of-artificial-intelligence. The intellectual property rights of MSCI and its Information Providers may not be misappropriated or used in a competitive manner through the use of thirdparty data or financial products linked to the Information, including by using an MSCI index-linked future or option in a competing third-party index to provide an exposure to the underlying MSCI index or by using an MSCI index-linked ETF to create a financial product that provides an exposure to the underlying MSCI index without obtaining a license from MSCI. You may not remove, alter, or obscure any attribution to MSCI or notices or disclaimers that apply to the Information. “ACWI, EAFE, IMI, GIMI, and the MSCI IMI family of index names are trademarks or service marks of MSCI Inc.

MSCI ACWI: The Contact us section was reformatted so the Mexico phone number is kept on the same line as Mexico and the surrounding company-description text flows differently. No contact number, link, complaint process, or index methodology rule changed. (Editorial)

2026-10-02T00:00:00Z

The Contact us section was reformatted so the Mexico phone number is kept on the same line as Mexico and the surrounding company-description text flows differently. No contact number, link, complaint process, or index methodology rule changed. Previous: Brazil + 55 11 4040 7830 Our research-based data, analytics and indexes, Mexico supported by advanced technology, set + 52 81 1253 4020 standards for global investors and help our clients understand risks and opportunities so they can EUROPE, MIDDLE EAST & AFRICA make better decisions and unlock innovation. Updated: Brazil + 55 11 4040 7830 Our research-based data, analytics and indexes, Mexico + 52 81 1253 4020 supported by advanced technology, set standards for global investors and help our clients understand risks and opportunities so they can EUROPE, MIDDLE EAST & AFRICA make better decisions and unlock innovation.

MSCI ACWI: The change history was updated with later July and August 2026 methodology entries, including new extreme-price-increase/FIF treatment, free-float and foreign-room requirements, corporate-event reversal handling, alert-board monitoring, light-rebalancing treatment, and China index maintenance clarification. Many pre-existing references were also reworded from “Investable Market Indexes” or “MSCI Global Investable Market Indexes” to “IMI™” or “MSCI GIMI™,” but these are terminology/trademark changes. (Major)

2026-10-02T00:00:00Z

The change history was updated with later July and August 2026 methodology entries, including new extreme-price-increase/FIF treatment, free-float and foreign-room requirements, corporate-event reversal handling, alert-board monitoring, light-rebalancing treatment, and China index maintenance clarification. Many pre-existing references were also reworded from “Investable Market Indexes” or “MSCI Global Investable Market Indexes” to “IMI™” or “MSCI GIMI™,” but these are terminology/trademark changes. Previous: 3.2.2 Quarterly Index Review of Addition of Companies Currently not Constituents of the Investable Market Indexes Updates in this section 3.1.4.1 Determining Initial Segment Number of Companies Clarification on counting the Initial Segment Number of Companies for the IMI Appendix XVI: Enhancements to the Coverage of the MSCI Global Investable Market Indexes New section The following sections have been modified since February 2015: Appendix XVI: Enhancements to the Coverage of the MSCI Global Investable Market Indexes Appendix XVI: Enhancements to the Coverage of the MSCI Global Investable Market Indexes Updated the table “Eligible Markets (Emerging Markets)” Appendix XVI: Enhancements to the Coverage of the MSCI Global Investable Market Indexes Updated the section on China under the revised Appendix III: Country Classification of Securities Section 3.2.3: Quarterly Index Review of Deletion of Companies Currently Constituents of the Updates in this section on priority rules for selection of listings Appendix III: Country Classification of Securities Updated the sections “General Framework” and “Other Cases” Updated the treatment of China under the section “Country Specific Cases” Added the treatment of Greece under the section “Country Specific Cases” Deleted the sections “Review and Maintenance” and “Country of Coverage of Companies Not Eligible for Inclusion in the MSCI Global Investable Market Indexes” Appendix XVI: Enhancements to the Coverage of the MSCI Global Investable Market Indexes Section 3.2.3: Quarterly Index Review of Deletion of Companies Currently Constituents of the Investable Market Indexes Added footnote on priority rule for local listings Section 2.7: Constructing and Calculating the Individual MSCI Global Investable Markets Indexes Added section to clarify the creation and maintenance of the MSCI GIMI Composite Indexes Appendix XVII: Transition to the MSCI GIMI Methodology Previously Appendix XII Appendix XIX: Transition to the MSCI GIMI Methodo Updated: 3.2.2 Quarterly Index Review of Addition of Companies Currently not Constituents of the IMI™ Updates in this section 3.1.4.1 Determining Initial Segment Number of Companies Clarification on counting the Initial Segment Number of Companies for the IMI™ Appendix XVI: Enhancements to the Coverage of the MSCI GIMI™ New section The following sections have been modified since February 2015: Appendix XVI: Enhancements to the Coverage of the MSCI GIMI™ Appendix XVI: Enhancements to the Coverage of the MSCI GIMI™ Updated the table “Eligible Markets (Emerging Markets)” Appendix XVI: Enhancements to the Coverage of the MSCI GIMI™ Updated the section on China under the revised Appendix III: Country Classification of Securities Section 3.2.3: Quarterly Index Review of Deletion of Companies Currently Constituents of the IMI™ Updates in this section on priority rules for selection of listings Appendix III: Country Classification of Securities Updated the sections “General Framework” and “Other Cases” Updated the treatment of China under the section “Country Specific Cases” Added the treatment of Greece under the section “Country Specific Cases” Deleted the sections “Review and Maintenance” and “Country of Coverage of Companies Not Eligible for Inclusion in the MSCI GIMI™” Appendix XVI: Enhancements to the Coverage of the MSCI GIMI™ Section 3.2.3: Quarterly Index Review of Deletion of Companies Currently Constituents of the IMI™ Added footnote on priority rule for local listings Section 2.7: Constructing and Calculating the Individual MSCI Global Investable Markets Indexes Added section to clarify the creation and maintenance of the MSCI GIMI™ Composite Indexes Appendix XVII: Transition to the MSCI GIMI™ Methodology Previously Appendix XII Appendix XIX: Transition to the MSCI GIMI™ Methodology Previously Appendix XVII Section 3.2.2 Quarterly Index Review of Addition of Companies Currently Not Constituents of the IMI™ Updated Footnote Appendix removed The following sections have be

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: In August 2022, a consultation was launched with proposals to enhance the MSCI Frontier Markets Indexes Methodology with the aim of addressing the following: A limited number of eligible securities and much smaller investment opportunity set caused by higher size cutoffs linked to Developed Markets (DM) Significantly higher country concentration, as a few heavily-weighted markets at the top of the index exist along with a longer list of smaller markets at the bottom Frequent changes in index composition, often driven by market reclassifications Following feedback from market participants, the changes below were implemented at the August 2023 Index Review: Independent size cutoffs for Frontier Markets are no longer linked to Developed Markets, For each individual Frontier Market, a reduction in the minimum number of companies meeting Standard Index requirements for Size and Liquidity from two companies to one, and Regional consolidation of individual markets for the purpose of index construction and maintenance where appropriate, starting with the Baltic States, i.e., Estonia, Lithuania and Latvia: MSCI considers Estonia, Lithuania and Latvia as a single market for the purpose of o index construction and maintenance under the MSCI Global Investable Market Indexes Methodology to derive the constituents of the MSCI Baltic States Indexes. Updated: In August 2022, a consultation was launched with proposals to enhance the MSCI Frontier Markets Indexes Methodology with the aim of addressing the following: A limited number of eligible securities and much smaller investment opportunity set caused by higher size cutoffs linked to Developed Markets (DM) Significantly higher country concentration, as a few heavily-weighted markets at the top of the index exist along with a longer list of smaller markets at the bottom Frequent changes in index composition, often driven by market reclassifications Following feedback from market participants, the changes below were implemented at the August 2023 Index Review: Independent size cutoffs for Frontier Markets are no longer linked to Developed Markets, For each individual Frontier Market, a reduction in the minimum number of companies meeting Standard Index requirements for Size and Liquidity from two companies to one, and Regional consolidation of individual markets for the purpose of index construction and maintenance where appropriate, starting with the Baltic States, i.e., Estonia, Lithuania and Latvia: MSCI considers Estonia, Lithuania and Latvia as a single market for the purpose of o index construction and maintenance under the MSCI GIMI™ Methodology to derive the constituents of the MSCI Baltic States Indexes.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: compared to Parent Indexes Indexes constructed from a parent index that follows GIMI methodology but apply an alternative weighting methodology and/or additional screening methodology (Derived Indexes), such as MSCI Factor, ESG or Capped Indexes, may have Index Review schedules which do not always coincide with the Index Review schedule of their respective parent index. For Derived Indexes whose Index Review schedule is less frequent compared to their parent, for example less frequent than quarterly (e.g. semi-annual, annual) compared to the MSCI Global Investable Market Indexes which are reviewed on a quarterly basis, changes resulting from the parent index, such as deletions, additions, as well as Number of Shares and Foreign Inclusion Factor changes, will be reflected as per the intra-rebalance treatment specified in their respective methodologies. Updated: compared to Parent Indexes Indexes constructed from a parent index that follows GIMI™ methodology but apply an alternative weighting methodology and/or additional screening methodology (Derived Indexes), such as MSCI Factor, ESG or Capped Indexes, may have Index Review schedules which do not always coincide with the Index Review schedule of their respective parent index. For Derived Indexes whose Index Review schedule is less frequent compared to their parent, for example less frequent than quarterly (e.g. semi-annual, annual) compared to the MSCI GIMI which are reviewed on a quarterly basis, changes resulting from the parent index, such as deletions, additions, as well as Number of Shares and Foreign Inclusion Factor changes, will be reflected as per the intra-rebalance treatment specified in their respective methodologies.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Prior to the February 2023 Index Review, the MSCI Global Investable Market Indexes were reviewed on a quarterly basis which involved: - Semi-Annual Index Reviews (SAIRs) in May and November and - Quarterly Index Reviews (QIRs) in February and August Updated: Prior to the February 2023 Index Review, the MSCI GIMI™ were reviewed on a quarterly basis which involved: - Semi-Annual Index Reviews (SAIRs) in May and November and - Quarterly Index Reviews (QIRs) in February and August

MSCI ACWI: The updated text abbreviates "Investable Market Indexes" to "IMI™" and inserts a line break before restating the 0.5x to 1.15x range. The substantive size-range rule is unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated text abbreviates "Investable Market Indexes" to "IMI™" and inserts a line break before restating the 0.5x to 1.15x range. The substantive size-range rule is unchanged. Previous: The Global Minimum Size Range for each size-segment is determined by defining a Global Minimum Size Reference for Large Cap, Standard, and Investable Market Indexes, and specifying a range of 0.5 times to 1.15 times those References. Updated: The Global Minimum Size Range for each size-segment is determined by defining a Global Minimum Size Reference for Large Cap, Standard, and IMI™ Indexes, and specifying a range of 0.5 times to 1.15 times those References.

MSCI ACWI: The historical transition timeline retains the same dates, events, and methodology transition, but replaces the spelled-out names "Global Investable Market Indexes" and "Investable Market Indexes" with the trademarked abbreviations "GIMI™" and "IMI™." The surrounding line breaks also change without altering the substantive timeline. (Editorial)

2026-10-02T00:00:00Z

The historical transition timeline retains the same dates, events, and methodology transition, but replaces the spelled-out names "Global Investable Market Indexes" and "Investable Market Indexes" with the trademarked abbreviations "GIMI™" and "IMI™." The surrounding line breaks also change without altering the substantive timeline. Previous: Date Provisional/New Standard & Small Cap March 28, Final MSCI Global Investable No impact. 2007 Market Indexes methodology was announced. May Annual Initial construction based on data Regular Annual Index Review of the Index Review used in Standard and Small Cap Current Standard Index., taking into Index Review, including account new minimum size requirements. population of the buffers. Provisional Small Cap Indexes, under the Global Investable Market Indexes methodology for each of the MSCI Provisional Standard and Provisional Small Cap Indexes, was made available. New Large Cap, Mid Cap, and Investable Market Indexes also published. May 2008 SAIR for Provisional and Size- Second and final phase of the transition SAIR and Segment Indexes. included in May Annual Index Review for Annual Review Standard Indexes and SAIR for Small Cap Indexes. May 30, 2008 Fully transitioned Standard and Small Cap Indexes implemented. After June 1, Provisional Indexes discontinued. All MSCI global equity indexes operate 2008 under Global Investable Market Indexes methodology. Updated: Date Provisional/New Standard & Small Cap March 28, Final MSCI GIMI™ methodology No impact. 2007 was announced. May Annual Initial construction based on data Regular Annual Index Review of the Index Review used in Standard and Small Cap Current Standard Index., taking into Index Review, including account new minimum size requirements. population of the buffers. Provisional Small Cap Indexes, under the GIMI™ methodology for each of the MSCI Provisional Standard and Provisional Small Cap Indexes, was made available. New Large Cap, Mid Cap, and IMI™ Indexes also published. May 2008 SAIR for Provisional and Size- Second and final phase of the transition SAIR and Segment Indexes. included in May Annual Index Review for Annual Review Standard Indexes and SAIR for Small Cap Indexes. May 30, 2008 Fully transitioned Standard and Small Cap Indexes implemented. After June 1, Provisional Indexes discontinued. All MSCI global equity indexes operate 2008 under GIMI™ methodology.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: The MSCI Euro Pan-Euro methodology evolved to the methodology for the Large Cap Index under the Global Investable Market Indexes methodology. Consequently, The enhanced MSCI Pan Euro Index became identical to the MSCI Europe Large Cap Index under the MSCI Global Investable Market Indexes methodology. The enhanced MSCI Euro Index became identical to the MSCI EMU Large Cap Index under the MSCI Global Investable Market Indexes methodology. The transition of the MSCI Euro and MSCI Pan-Euro Indexes to the Global Investable Market Indexes methodology took place in a single phase, as of the close of business on November 30, 2007. Updated: The MSCI Euro Pan-Euro methodology evolved to the methodology for the Large Cap Index under the GIMI™ methodology. Consequently, The enhanced MSCI Pan Euro Index became identical to the MSCI Europe Large Cap Index under the MSCI GIMI methodology. The enhanced MSCI Euro Index became identical to the MSCI EMU Large Cap Index under the MSCI GIMI methodology. The transition of the MSCI Euro and MSCI Pan-Euro Indexes to the GIMI methodology took place in a single phase, as of the close of business on November 30, 2007.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Therefore, at the first phase of the transition, the constituents of the existing MSCI Global Value and Growth Indexes acquired style inclusion factors derived from the Global Investable Market Indexes. In those rare cases where an existing constituent of the current Global Value and Growth Indexes were not included in the Global Investable Market Indexes, those constituents retained their current style inclusion factors. Updated: Therefore, at the first phase of the transition, the constituents of the existing MSCI Global Value and Growth Indexes acquired style inclusion factors derived from the GIMI™. In those rare cases where an existing constituent of the current Global Value and Growth Indexes were not included in the GIMI, those constituents retained their current style inclusion factors.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: In May 2008, the second SAIR for the Provisional Standard and Provisional Small Cap Indexes was conducted under the principles of the Global Investable Market Indexes methodology. Updated: In May 2008, the second SAIR for the Provisional Standard and Provisional Small Cap Indexes was conducted under the principles of the GIMI™ methodology.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: In February 2008, the second QIR for the Provisional Standard and Provisional Small Cap Indexes was conducted under the principles of the Global Investable Market Indexes methodology. Updated: In February 2008, the second QIR for the Provisional Standard and Provisional Small Cap Indexes was conducted under the principles of the GIMI™ methodology.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Identification of the additional changes resulting from the first phase of the transition to the Global Investable Market Indexes Methodology. In the first step, MSCI performed the regular Semi-Annual Index Review of the Standard and Small Cap Indexes under the principles of the Global Investable Market Indexes Methodology, meaning that all changes in the Standard and Small Cap Indexes were coordinated with the Semi-Annual Index Review of the Provisional Standard and Provisional Small Cap Indexes. Updated: Identification of the additional changes resulting from the first phase of the transition to the GIMI™ Methodology. In the first step, MSCI performed the regular Semi-Annual Index Review of the Standard and Small Cap Indexes under the principles of the GIMI Methodology, meaning that all changes in the Standard and Small Cap Indexes were coordinated with the Semi-Annual Index Review of the Provisional Standard and Provisional Small Cap Indexes.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: In August 2007, the first QIR for the Provisional Standard and Provisional Small Cap Indexes was conducted under the principles of the Global Investable Market Indexes methodology. Updated: In August 2007, the first QIR for the Provisional Standard and Provisional Small Cap Indexes was conducted under the principles of the GIMI™ methodology.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: schedule, to coincide with the availability of the pro-forma list of constituents of the MSCI Global Investable Market Indexes. The changes resulting from the May 2007 Index Review of the current Small Cap Indexes were made available on May 3, 2007, along with the final pro forma list of constituents of the MSCI Global Investable Market Indexes. Updated: schedule, to coincide with the availability of the pro-forma list of constituents of the MSCI GIMI™. The changes resulting from the May 2007 Index Review of the current Small Cap Indexes were made available on May 3, 2007, along with the final pro forma list of constituents of the MSCI GIMI.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: The Provisional Indexes and Size-Segment Indexes were maintained according to the index maintenance principles of the Global Investable Market Indexes methodology. Updated: The Provisional Indexes and Size-Segment Indexes were maintained according to the index maintenance principles of the GIMI™ methodology.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Company A continued as a constituent of the Standard Index under the Global Investable Market Indexes methodology. Company B was not eligible for inclusion in the Standard Index under the Global Investable Market Indexes methodology. Companies E, F, and G were new constituents that were eligible for inclusion under the Global Investable Market Indexes methodology. Updated: Company A continued as a constituent of the Standard Index under the GIMI™ methodology. Company B was not eligible for inclusion in the Standard Index under the GIMI methodology. Companies E, F, and G were new constituents that were eligible for inclusion under the GIMI methodology.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Investable Market Index: 99%+1% or -0.5%. The Small Cap Index market coverage in each market is derived as the difference between the free float-adjusted market capitalization coverage of the Investable Market Index and the Standard Index in that market. Updated: IMI™: 99%+1% or -0.5%. The Small Cap Index market coverage in each market is derived as the difference between the free float-adjusted market capitalization coverage of the IMI and the Standard Index in that market.

MSCI ACWI: The outline replaces the full name “MSCI Global Investable Market Indexes” with the abbreviated, trademarked name “MSCI GIMI™” in the description of Section 1. It also changes the stated last-update date of the methodology book from May 2026 to August 2026. (Editorial)

2026-10-02T00:00:00Z

The outline replaces the full name “MSCI Global Investable Market Indexes” with the abbreviated, trademarked name “MSCI GIMI™” in the description of Section 1. It also changes the stated last-update date of the methodology book from May 2026 to August 2026. Previous: Section 1 provides an introduction and background to the MSCI Global Investable Market Indexes including the objectives and design of the indexes. This book was last updated in May 2026. Updated: Section 1 provides an introduction and background to the MSCI GIMI™ including the objectives and design of the indexes. This book was last updated in August 2026.

MSCI ACWI: The updated methodology adds a special measurement rule for China A shares that are current constituents of the MSCI China All Shares IMI™. For these securities, the relevant assessment uses free float-adjusted market capitalization before application of the adjustment factor, within the low-FIF Size-Segment investability requirements. (Minor)

2026-10-02T00:00:00Z

The updated methodology adds a special measurement rule for China A shares that are current constituents of the MSCI China All Shares IMI™. For these securities, the relevant assessment uses free float-adjusted market capitalization before application of the adjustment factor, within the low-FIF Size-Segment investability requirements. Previous: Securities with FIF below 0.15 must meet 1.8x 0.5x the Standard Cutoff in terms of o Security FIF-adjusted Market Capitalization - Stock Connect eligibility Updated: Securities with FIF below 0.15 must meet 1.8x 0.5x the Standard Cutoff in terms of o Security FIF-adjusted Market Capitalization China A shares that are current constituents of the MSCI China All Shares IMI™ will o be assessed using the free float-adjusted market capitalization before the application of the adjustment factor - Stock Connect eligibility

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: 65 As of each day from the effective date of the Index Review one year prior to the price cutoff date of the current Index Review (for example: a non-Index constituent suspended for 50 days as of any day from June 1, 2017, the effective date of the May 2017 Index Review, to April 23, 2018, the price cutoff date of the May 2018 Index Review, would not have been eligible for the Investable Market Universe of the May 2018 Index Review) Updated: 66 As of each day from the effective date of the Index Review one year prior to the price cutoff date of the current Index Review (for example: a non-Index constituent suspended for 50 days as of any day from June 1, 2017, the effective date of the May 2017 Index Review, to April 23, 2018, the price cutoff date of the May 2018 Index Review, would not have been eligible for the Investable Market Universe of the May 2018 Index Review)

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: In addition to the Investability Requirements described in section 2.2, MSCI will exclude newly eligible securities (securities that are not current constituents of the Investable Market Indexes) from the investable equity universe if the securities: - - Are suspended on the Price Cutoff date, or Have been suspended for at least 50 days consecutively in the past 12 months65 Companies and securities are evaluated based on the integrated MSCI China Equity Universe. Updated: In addition to the Investability Requirements described in section 2.2, MSCI will exclude newly eligible securities (securities that are not current constituents of the IMI™) from the investable equity universe if the securities: - - Are suspended on the Price Cutoff date, or Have been suspended for at least 50 days consecutively in the past 12 months66 Companies and securities are evaluated based on the integrated MSCI China Equity Universe.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: 64 CDRs are generally subject to the same requirements as China A shares, including Stock Connect eligibility further described in this section. Updated: 65 CDRs are generally subject to the same requirements as China A shares, including Stock Connect eligibility further described in this section.

MSCI ACWI: The methodology name is abbreviated from "MSCI Global Investable Market Indexes" to "MSCI GIMI™," with a trademark symbol added. The text also reflects footnote-number and typographic spacing changes. The definition of the integrated MSCI China Equity Universe and the related China A-share exclusions are unchanged. (Editorial)

2026-10-02T00:00:00Z

The methodology name is abbreviated from "MSCI Global Investable Market Indexes" to "MSCI GIMI™," with a trademark symbol added. The text also reflects footnote-number and typographic spacing changes. The definition of the integrated MSCI China Equity Universe and the related China A-share exclusions are unchanged. Previous: The MSCI China Indexes will be maintained using the MSCI Global Investable Market Indexes methodology under the Emerging Market framework. They will be constructed on the basis of the integrated MSCI China Equity Universe comprised of A‐ shares, CDRs64 and B‐ shares listed in China, H‐ shares, Red‐ chips, and P‐ chips listed in Hong Kong and foreign listings listed outside China or Hong Kong, identical to the universe used for the construction of the MSCI China All Shares Index. Updated: The MSCI China Indexes will be maintained using the MSCI GIMI™ methodology under the Emerging Market framework. They will be constructed on the basis of the integrated MSCI China Equity Universe comprised of A‐shares, CDRs 65 and B‐shares listed in China, H‐ shares, Red‐chips, and P‐chips listed in Hong Kong and foreign listings listed outside China or Hong Kong, identical to the universe used for the construction of the MSCI China All Shares Index.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: This section should be read in conjunction with the earlier Section 2 ‘Constructing the MSCI Global Investable Market Indexes’ and Section 3 ‘Maintaining the MSCI Global Investable Market Indexes’ as it describes only the points specific to maintenance of the MSCI China Indexes. 63 The MSCI China Indexes in this section refers to the MSCI China Indexes included in the MSCI Emerging Markets Indexes. Updated: This section should be read in conjunction with the earlier Section 2 ‘Constructing the MSCI GIMI™’ and Section 3 ‘Maintaining the MSCI GIMI’ as it describes only the points specific to maintenance of the MSCI China Indexes. 64 The MSCI China Indexes in this section refers to the MSCI China Indexes included in the MSCI Emerging Markets Indexes.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: This section has been updated in January 202063. Updated: This section has been updated in January 202064.

MSCI ACWI: The updated version only reformats the MSCI China Indexes share-class table by collapsing line breaks and renumbers the associated footnotes from 59–62 to 60–63. The described index universes, share classes, inclusion factors, and eligibility treatment remain unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated version only reformats the MSCI China Indexes share-class table by collapsing line breaks and renumbers the associated footnotes from 59–62 to 60–63. The described index universes, share classes, inclusion factors, and eligibility treatment remain unchanged. Previous: Share Class Domestic MSCI China Indexes P Foreign Connect Index Free Float B Shares H Shares Red Chips Size- Chips Listings A Shares CDR* eligible Listing Inclusion Inclusion Segment only Factor Factor Integrated China Equity Universe MSCI China All Shares Index L/M/S Onshore FIF MSCI China A International Index L/M/S Onshore FIF MSCI China Indexes L/M Connect 20% FIF MSCI China A Inclusion Index L/M Connect FIF MSCI China A Inclusion RMB Index L/M Onshore FIF MSCI China A Index L/M Connect FIF MSCI China A RMB Index L/M Onshore FIF Domestic China A Shares Equity Universe MSCI China A Onshore Index L/M/S Onshore DIF * CDRs are generally subject to the same requirements as China A shares, including Stock Connect eligibility further described in Appendix on Index Maintenance of the MSCI China Indexes. For more details on the MSCI China All Shares and MSCI China A International Indexes, please refer to the MSCI China All Shares Indexes Methodology59. 59 Available on https://www.msci.com/index-methodology Following the inclusion of Mid Cap China A shares in the MSCI Emerging Markets Index in the November 2019 Index Review, the MSCI China A Indexes60 represent the performance of the China A shares portion of the MSCI China Index. The MSCI China A Inclusion Indexes61 represent the China A share portion of the MSCI China Index and are identical to the MSCI China A Indexes following the inclusion of Mid Cap China A shares in the MSCI Emerging Markets Index. In addition, MSCI will also continue to calculate the MSCI China A Onshore Indexes 62 which are based on the Domestic Inclusion Factor (DIF) that is not subject to FOL and constructed only on the basis of the China A Equity Universe. 60 Please refer to Appendix XVII for more details. 61 Please refer to Appendix XVI for more details. 62 Please refer to Appendix XII for more details on the MSCI China A Onshore Indexes. Updated: Share Class Domestic MSCI China Indexes P Foreign Connect Index Free Float B Shares H Shares Red Chips Size- Chips Listings A Shares CDR* eligible Listing Inclusion Inclusion Segment only Factor Factor Integrated China Equity Universe MSCI China All Shares Index L/M/S Onshore FIF MSCI China A International Index L/M/S Onshore FIF MSCI China Indexes L/M Connect 20% FIF MSCI China A Inclusion Index L/M Connect FIF MSCI China A Inclusion RMB Index L/M Onshore FIF MSCI China A Index L/M Connect FIF MSCI China A RMB Index L/M Onshore FIF Domestic China A Shares Equity Universe MSCI China A Onshore Index L/M/S Onshore DIF * CDRs are generally subject to the same requirements as China A shares, including Stock Connect eligibility further described in Appendix on Index Maintenance of the MSCI China Indexes. For more details on the MSCI China All Shares and MSCI China A International Indexes, please refer to the MSCI China All Shares Indexes Methodology60. 60 Available on https://www.msci.com/index-methodology Following the inclusion of Mid Cap China A shares in the MSCI Emerging Markets Index in the November 2019 Index Review, the MSCI China A Indexes61 represent the performance of the China A shares portion of the MSCI China Index. The MSCI China A Inclusion Indexes62 represent the China A share portion of the MSCI China Index and are identical to the MSCI China A Indexes following the inclusion of Mid Cap China A shares in the MSCI Emerging Markets Index. In addition, MSCI will also continue to calculate the MSCI China A Onshore Indexes 63 which are based on the Domestic Inclusion Factor (DIF) that is not subject to FOL and constructed only on the basis of the China A Equity Universe. 61 Please refer to Appendix XVII for more details. 62 Please refer to Appendix XVI for more details. 63 Please refer to Appendix XII for more details on the MSCI China A Onshore Indexes.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: The updated text removes the specific provision excluding Indian securities on the NSDL/CDSL official list when the Red flag or Breach limit has been reached, while retaining the general exclusion for securities subject to foreign-ownership purchase restrictions. It also replaces “MSCI Global Investable Market Indexes” and “Investable Market Index” with “GIMI™” and “IMI™/IMI,” respectively, and moves the size-segment derivation paragraph without changing that rule. (Minor)

2026-10-02T00:00:00Z

The updated text removes the specific provision excluding Indian securities on the NSDL/CDSL official list when the Red flag or Breach limit has been reached, while retaining the general exclusion for securities subject to foreign-ownership purchase restrictions. It also replaces “MSCI Global Investable Market Indexes” and “Investable Market Index” with “GIMI™” and “IMI™/IMI,” respectively, and moves the size-segment derivation paragraph without changing that rule. Previous: Once a Market Investable Equity Universe is defined, it is segmented into the following sizebased indexes: Investable Market Index (Large + Mid + Small) Standard Index (Large + Mid) Large Cap Index Mid Cap Index Small Cap Index The structure of the MSCI Global Investable Market Indexes in each market is depicted below. 12 Indian securities included in the National Securities Depository Limited’s (NSDL) & Central Depository Services Limited’s (CDSL) official list of securities for which the Red flag or Breach limit has been reached would not be considered for the inclusion in Market Investable Equity Universe. The Investable Market Index, the Standard Index and the Large Cap Index are created first, while the Mid Cap Index is derived as the difference between the Standard Index and the Large Cap Index, and the Small Cap Index is derived as the difference between the Investable Market Index and the Standard Index. This is done for each of the three size-segment indexes, namely the Investable Market Index, the Standard Index, and the Large Cap Indexes. Cumulative Free Float- Coverage Adjusted Range Market Coverage Creating the Size-Segment Indexes in each market involves the following steps: Defining the Market Coverage Target Range for each size-segment Determining the Global Minimum Size Range for each size-segment Determining the Market Size-Segment Cutoffs and associated Segment Number of Companies Assigning companies to the size-segments Applying final size-segment investability requirements Updated: Once a Market Investable Equity Universe is defined, it is segmented into the following sizebased indexes: Investable Market Index (Large + Mid + Small) Standard Index (Large + Mid) Large Cap Index Mid Cap Index Small Cap Index The structure of the MSCI GIMI™ in each market is depicted below. The IMI™, the Standard Index and the Large Cap Index are created first, while the Mid Cap Index is derived as the difference between the Standard Index and the Large Cap Index, and the Small Cap Index is derived as the difference between the IMI and the Standard Index. inclusion in Market Investable Equity Universe. This is done for each of the three size-segment indexes, namely the IMI, the Standard Index, and the Large Cap Indexes. Cumulative Free Float- Coverage Adjusted Range Market Coverage Creating the Size-Segment Indexes in each market involves the following steps: Defining the Market Coverage Target Range for each size-segment Determining the Global Minimum Size Range for each size-segment Determining the Market Size-Segment Cutoffs and associated Segment Number of Companies Assigning companies to the size-segments Applying final size-segment investability requirements

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: The updated text abbreviates “MSCI Global Investable Market Indexes Methodology” to “MSCI GIMI™ Methodology” and renumbers the associated footnotes. The described indexes, country coverage, DIF treatment, and free-float review references remain unchanged; the remaining differences are line reflows. (Editorial)

2026-10-02T00:00:00Z

The updated text abbreviates “MSCI Global Investable Market Indexes Methodology” to “MSCI GIMI™ Methodology” and renumbers the associated footnotes. The described indexes, country coverage, DIF treatment, and free-float review references remain unchanged; the remaining differences are line reflows. Previous: Most of the MSCI Domestic Indexes are based on the MSCI Global Investable Market Indexes Methodology. MSCI defines the free float of a security as the proportion of tradable shares outstanding that are deemed to be available for purchase in the public equity markets by domestic investors56. Free float of MSCI GIMI and MSCI Domestic indexes are reviewed, as defined in Sub-Section 3.1.7 based on the date of data defined in Sub-Section 3.1.9. Please see Appendix VI for details on MSCI Free Float Definition and Estimation Guidelines. Currently, MSCI Domestic Indexes based on the MSCI Global Investable Market Indexes Methodology are available for China57, India, GCC Countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates), Canada, Korea and Australia58. Updated: Most of the MSCI Domestic Indexes are based on the MSCI GIMI™ Methodology. MSCI defines the free float of a security as the proportion of tradable shares outstanding that are deemed to be available for purchase in the public equity markets by domestic investors57. Free float of MSCI GIMI and MSCI Domestic indexes are reviewed, as defined in Sub-Section 3.1.7 based on the date of data defined in Sub-Section 3.1.9. Please see Appendix VI for details on MSCI Free Float Definition and Estimation Guidelines. Currently, MSCI Domestic Indexes based on the MSCI GIMI Methodology are available for China58, India, GCC Countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates), Canada, Korea and Australia59.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: DRs of IPOs which are significant in size and included early in the MSCI Global Standard Indexes according to Sub‐ section 3.2.7, will be simultaneously included in the MSCI DR Indexes. Updated: DRs of IPOs which are significant in size and included early in the MSCI Global Standard Indexes according to Sub‐section 3.2.7, will be simultaneously included in the MSCI DR Indexes.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: The footnote/reference numbers in this section are shifted by one (53–55 become 54–56). The fragmentary closing note is also changed from “Non-current IMI constituent” to “Non-current IMIT constituent.” The operative market-closure and suspended-security review rules are unchanged. (Editorial)

2026-10-02T00:00:00Z

The footnote/reference numbers in this section are shifted by one (53–55 become 54–56). The fragmentary closing note is also changed from “Non-current IMI constituent” to “Non-current IMIT constituent.” The operative market-closure and suspended-security review rules are unchanged. Previous: 53 The suspension status is taken as per the close of the regular trading time of the relevant stock exchange. 54 In cases where the Index Review effective date falls on a Tuesday, the postponement for suspended securities in indexes calculated from Sunday to Thursday will be reviewed on Sunday. 55 Non-current IMI constituent Updated: 54 The suspension status is taken as per the close of the regular trading time of the relevant stock exchange. 55 In cases where the Index Review effective date falls on a Tuesday, the postponement for suspended securities in indexes calculated from Sunday to Thursday will be reviewed on Sunday. 56 Non-current IMIT constituent

MSCI ACWI: The updated section makes no substantive change to the trading-suspension policy. It adds the ™ symbol to IMI and renumbers the associated footnote references from 53–55 to 54–56, including a minor spacing adjustment before a footnote marker. (Editorial)

2026-10-02T00:00:00Z

The updated section makes no substantive change to the trading-suspension policy. It adds the ™ symbol to IMI and renumbers the associated footnote references from 53–55 to 54–56, including a minor spacing adjustment before a footnote marker. Previous: Reviews MSCI will postpone the implementation of Index Review changes for IMI constituents, as well as Micro Cap constituents, when the affected securities are suspended53 on the day prior to the effective implementation date54 of the Index Review. Additions of Chinese securities to all MSCI Indexes55 (including pro forma MSCI China Indexes, MSCI China A Inclusion Indexes, MSCI China All Shares Indexes and MSCI China A Onshore Indexes) will be cancelled instead of postponed if the securities are suspended on the day prior to the effective implementation of the Index Review. Updated: Reviews MSCI will postpone the implementation of Index Review changes for IMI™ constituents, as well as Micro Cap constituents, when the affected securities are suspended 54 on the day prior to the effective implementation date55 of the Index Review. Additions of Chinese securities to all MSCI Indexes56 (including pro forma MSCI China Indexes, MSCI China A Inclusion Indexes, MSCI China All Shares Indexes and MSCI China A Onshore Indexes) will be cancelled instead of postponed if the securities are suspended on the day prior to the effective implementation of the Index Review.

MSCI ACWI: The minimum foreign-room requirement itself is unchanged at 15%, but the updated section adds an India-specific eligibility restriction: securities on the NSDL/CDSL official list for which the Red flag or Breach limit has been reached would not be considered. In the supplied text, the inserted sentence is spliced directly into the following sentence beginning with “For a security.” (Minor)

2026-10-02T00:00:00Z

The minimum foreign-room requirement itself is unchanged at 15%, but the updated section adds an India-specific eligibility restriction: securities on the NSDL/CDSL official list for which the Red flag or Breach limit has been reached would not be considered. In the supplied text, the inserted sentence is spliced directly into the following sentence beginning with “For a security.” Previous: For a security that is subject to a Foreign Ownership Limit (FOL) to be eligible for inclusion in a Market Investable Equity Universe, the proportion of shares still available to foreign investors relative to the maximum allowed (referred to as “foreign room”) must be at least 15%. Updated: 12 Indian securities included in the National Securities Depository Limited’s (NSDL) & Central Depository Services Limited’s (CDSL) official list of securities for which the Red flag or Breach limit has been reached would not be considered for the For a security that is subject to a Foreign Ownership Limit (FOL) to be eligible for inclusion in a Market Investable Equity Universe, the proportion of shares still available to foreign investors relative to the maximum allowed (referred to as “foreign room”) must be at least 15%.

MSCI ACWI: The section was reworded to use the abbreviated trademarked terms "IMI™" and "GIMI™" instead of "Investable Market Indexes" and "GIMI." The liquidity thresholds, alternative-listing priority, Emerging Markets retention condition, and Liquidity Adjustment Factor rules were unchanged; footnotes were renumbered from 50–52 to 51–53. (Editorial)

2026-10-02T00:00:00Z

The section was reworded to use the abbreviated trademarked terms "IMI™" and "GIMI™" instead of "Investable Market Indexes" and "GIMI." The liquidity thresholds, alternative-listing priority, Emerging Markets retention condition, and Liquidity Adjustment Factor rules were unchanged; footnotes were renumbered from 50–52 to 51–53. Previous: Rebalancings Existing constituents of the Investable Market Indexes can remain in the Investable Market Indexes only if: The 3-month ATVR and Frequency of Trading are at least 5% and 80% respectively for Developed Markets The 3-month ATVR and Frequency of Trading are at least 5% and 70% respectively for Emerging Markets If the listing used for an existing constituent no longer meets the above liquidity requirements, other eligible listings that do meet such liquidity requirements will be used to represent the security in the Market Investable Equity Universe. If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing50 Foreign listing in the same geographical region51 Foreign listing in a different geographical region52 If an existing constituent of a Standard Index in Emerging Markets fails to meet the liquidity requirements, but has a weight of more than 10% in the respective country index and its free float adjusted market capitalization is above 0.5 times the Global Minimum Size Reference for Emerging Markets, then such constituent will remain in the index. However, MSCI would apply a Liquidity Adjustment Factor of 0.5 to the weight of the security, and in the subsequent Index Review, MSCI: Would delete the security from the index if the security does not meet all liquidity requirements for existing constituents calculated after applying the Liquidity Adjustment Factor; or 50 If the security has two or more local listings, then the listing with the highest 3-month ATVR would be used. 51 MSCI classifies markets into three main geographical regions: EMEA, Asia Pacific and Americas. 52 If the security has two or more foreign listings in a different geographical region, then the listing with the highest 3-month ATVR would be used. Would maintain the security in the GIMI and remove the Liquidity Ad Updated: Existing constituents of the IMI™ can remain in the IMI only if: The 3-month ATVR and Frequency of Trading are at least 5% and 80% respectively for Developed Markets The 3-month ATVR and Frequency of Trading are at least 5% and 70% respectively for Emerging Markets If the listing used for an existing constituent no longer meets the above liquidity requirements, other eligible listings that do meet such liquidity requirements will be used to represent the security in the Market Investable Equity Universe. If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing51 Foreign listing in the same geographical region52 Foreign listing in a different geographical region53 If an existing constituent of a Standard Index in Emerging Markets fails to meet the liquidity requirements, but has a weight of more than 10% in the respective country index and its free float adjusted market capitalization is above 0.5 times the Global Minimum Size Reference for Emerging Markets, then such constituent will remain in the index. However, MSCI would apply a Liquidity Adjustment Factor of 0.5 to the weight of the security, and in the subsequent Index Review, MSCI: Would delete the security from the index if the security does not meet all liquidity requirements for existing constituents calculated after applying the Liquidity Adjustment Factor; or Would maintain the security in the GIMI™ and remove the Liquidity Adjustment Factor if the security meets all the liquidity requirements for new constituents, calculated before applying the Liquidity Adjustment Factor for three consecutive Index Reviews; or Would continue maintaining the security in the GIMI with the Liquidity Adjustment Factor of 0.5 if none of the above conditions are met. 51 If the security has two or more local listings, then the listing with the highest 3-mo

MSCI ACWI: The light-rebalancing addition rule narrows the exclusion for securities with extreme price increases. Under the updated methodology, such securities are ineligible only when their FIF is less than 0.75, whereas the previous text excluded all securities exhibiting extreme price increases. The abbreviation of "Investable Market Indexes" to "IMI™," footnote renumbering, and sentence relocation are formatting changes. (Minor)

2026-10-02T00:00:00Z

The light-rebalancing addition rule narrows the exclusion for securities with extreme price increases. Under the updated methodology, such securities are ineligible only when their FIF is less than 0.75, whereas the previous text excluded all securities exhibiting extreme price increases. The abbreviation of "Investable Market Indexes" to "IMI™," footnote renumbering, and sentence relocation are formatting changes. Previous: Light Rebalancings Securities that are currently not constituents of the Investable Market Indexes and that meet the investability screens described in Sub-section 2.2 (with the exception of the Minimum Length of Trading Requirement), including large IPOs that were not added earlier, and in addition meet the requirements listed below, are added to the Standard Index: A full market capitalization that exceeds 1.8 times the Interim Market Size-Segment Cutoff for the Standard Size-Segment A free float-adjusted market capitalization that exceeds 1.8 times one-half the Interim Market Size-Segment Cutoff for the Standard Size-Segment Securities that exhibit extreme price increase are not eligible for inclusion into the Standard Indexes. 49 Applicable only for securities still subject to FOLs. For companies trading on a conditional basis (when-issued trading) prior to their listing and unconditional trading, MSCI assesses the inclusion of the company in the MSCI Indexes based on its first day of conditional trading. Updated: Securities that are currently not constituents of the IMI™ and that meet the investability screens described in Sub-section 2.2 (with the exception of the Minimum Length of Trading Requirement), including large IPOs that were not added earlier, and in addition meet the requirements listed below, are added to the Standard Index: A full market capitalization that exceeds 1.8 times the Interim Market Size-Segment Cutoff for the Standard Size-Segment A free float-adjusted market capitalization that exceeds 1.8 times one-half the Interim Market Size-Segment Cutoff for the Standard Size-Segment Securities that exhibit extreme price increase with a FIF less than 0.75 are not eligible for inclusion into the Standard Indexes. For companies trading on a conditional basis (when-issued trading) prior to their listing and unconditional trading, MSCI assesses the inclusion of the company in the MSCI Indexes based on its first day of conditional trading. 50 Applicable only for securities still subject to FOLs.

MSCI ACWI: The light-rebalancing rule for Small Cap-to-Standard migration after an extreme price increase has been narrowed: the updated text makes ineligibility conditional on having a FIF below 0.75, whereas the previous text applied the bar to all existing IMI constituents exhibiting an extreme price increase. The explicit statement that such migrants would be retained as Small Cap constituents was removed and replaced by a cross-reference to the detailed treatment. Other edits are IMI naming/trademark changes, formatting, and footnote renumbering. (Major)

2026-10-02T00:00:00Z

The light-rebalancing rule for Small Cap-to-Standard migration after an extreme price increase has been narrowed: the updated text makes ineligibility conditional on having a FIF below 0.75, whereas the previous text applied the bar to all existing IMI constituents exhibiting an extreme price increase. The explicit statement that such migrants would be retained as Small Cap constituents was removed and replaced by a cross-reference to the detailed treatment. Other edits are IMI naming/trademark changes, formatting, and footnote renumbering. Previous: Once companies have been assigned to the Standard, Large and Investable Market Indexes, companies are then assigned to the Mid and Small Cap Indexes. The Small Cap Index comprises the companies that are in the Investable Market Index but not in the Standard Index. Existing IMI constituents that exhibit extreme price increase (as per section 2.3.6.3) will not be eligible for migration into the Standard Indexes. Existing IMI constituents migrating into the Standard Index and exhibiting extreme price increase will be retained as Small Cap constituents. 0.25 0 Current adjustment factor = 0.5 1 0.25 0 If the foreign room of an existing constituent decreases below 3.75%, then the adjustment factor equals 048. 48 Based on information available from the country regulatory authority, the adjustment factor equals 0 for securities where further purchases are restricted due to foreign ownership restriction. During the Index Review, for any existing IMI constituents whose weight is decreased as a result of a change in the adjustment factor due to low foreign room, MSCI will continue to monitor any potential increased foreign room due to an increase in FOL49 until five business days before the effective date of that Index Review. Securities that are part of the Market Investable Equity Universe, but did not meet additional investability requirements at the previous Index Review are not added to the Investable Market Indexes as part of the light rebalancing, unless they meet the criteria outlined in Addition of Companies Currently not Constituents of the Investable Market Indexes during Light Rebalancings. Updated: Once companies have been assigned to the Standard, Large and IMI™ Indexes, companies are then assigned to the Mid and Small Cap Indexes. The Small Cap Index comprises the companies that are in the IMI but not in the Standard Index. Existing IMI constituents that exhibit extreme price increase with a FIF less than 0.75 will not be eligible for migration into the Standard Indexes. Detailed treatments are described in Sub- section 2.3.6.3 Treatment of Securities that Exhibit Extreme Price Increase. 0.25 0 Current adjustment factor = 0.5 1 0.25 0 If the foreign room of an existing constituent decreases below 3.75%, then the adjustment factor equals 049. During the Index Review, for any existing IMI constituents whose weight is decreased as a result of a change in the adjustment factor due to low foreign room, MSCI will continue to 49 Based on information available from the country regulatory authority, the adjustment factor equals 0 for securities where further purchases are restricted due to foreign ownership restriction. monitor any potential increased foreign room due to an increase in FOL50 until five business days before the effective date of that Index Review. Securities that are part of the Market Investable Equity Universe, but did not meet additional investability requirements at the previous Index Review are not added to the IMI Indexes as part of the light rebalancing, unless they meet the criteria outlined in Addition of Companies Currently not Constituents of the IMI Indexes during Light Rebalancings.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: The substantive communication-date and light-rebalancing policy is unchanged. The only update renumbers the two footnotes at the end of the section from 46 and 47 to 47 and 48. (Editorial)

2026-10-02T00:00:00Z

The substantive communication-date and light-rebalancing policy is unchanged. The only update renumbers the two footnotes at the end of the section from 46 and 47 to 47 and 48. Previous: 46 MSCI uses the closing bid/ask as provided by its data source. If these are unavailable, then the most recent bid/ask prices are used instead. 47 The 10-day standard deviation of daily returns is annualized by multiplying it by the square root of 260. Updated: 47 MSCI uses the closing bid/ask as provided by its data source. If these are unavailable, then the most recent bid/ask prices are used instead. 48 The 10-day standard deviation of daily returns is annualized by multiplying it by the square root of 260.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: MSCI ACWI-weighted bid-ask spread, measured as index market capitalizationo weighted bid-ask spread ( [ask-bid] / ask )46, breaching 0.19% AND o MSCI ACWI volatility, measured as the annualized standard deviation47 of the daily o returns of the MSCI ACWI over the past 10 business days, breaching 0.55 - OR - Market Functioning o Unexpected full day or partial stock exchange closures impacting 20% of MSCI ACWI constituents cumulatively over the “market monitoring period” Updated: MSCI ACWI®-weighted bid-ask spread, measured as index market capitalizationo weighted bid-ask spread ( [ask-bid] / ask )47, breaching 0.19% AND o MSCI ACWI® volatility, measured as the annualized standard deviation48 of the daily o returns of the MSCI ACWI® over the past 10 business days, breaching 0.55 - OR - Market Functioning o Unexpected full day or partial stock exchange closures impacting 20% of MSCI ACWI® constituents cumulatively over the “market monitoring period”

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: The FIF methodology for depository receipts whose underlying shares are not available for trading is replaced beginning with the May 2026 Index Review. New additions will use the lower of (i) the higher of adjusted 13F ownership or capital-raising float and (ii) free float under the current MSCI Free Float Data Methodology. Existing constituents will transition in phases, with a midpoint adjustment in May 2026 and full application of the new approach from November 2026 if enhanced transparency remains unavailable. (Minor)

2026-10-02T00:00:00Z

The FIF methodology for depository receipts whose underlying shares are not available for trading is replaced beginning with the May 2026 Index Review. New additions will use the lower of (i) the higher of adjusted 13F ownership or capital-raising float and (ii) free float under the current MSCI Free Float Data Methodology. Existing constituents will transition in phases, with a midpoint adjustment in May 2026 and full application of the new approach from November 2026 if enhanced transparency remains unavailable. Previous: Trading Starting from the May 2024 Index Review, MSCI will apply the below approach to calculate the Foreign Inclusion Factor (FIF) for Depository Receipts (DRs) where underlying shares are not available for trading. For additions to the MSCI Global Investable Market Indexes, including the MSCI ACWI IMI Index, the MSCI Frontier Markets IMI, the MSCI China All Shares IMI and relevant MSCI J-Series Indexes, the FIF will be calculated as the lower of: the FIF derived based on publicly disclosed capital raising activities at the time of listing and any subsequent offerings; or the FIF computed on the basis of the MSCI Free Float Data Methodology. For securities added to the indexes using the capital raising method, MSCI will continue to review such securities using the capital raising method in the subsequent Index Reviews. For existing constituents of the MSCI Global Investable Market Indexes, including the MSCI ACWI IMI Index, the MSCI Frontier Markets IMI, the MSCI China All Shares IMI and relevant MSCI J-Series Indexes, the FIF will be calculated as the lower of: the ratio of Depository Number of Shares (NOS)/Total NOS (wherever such data is available); or the FIF computed on the basis of the MSCI Free Float Data Methodology. Updated: Trading Starting from the May 2026 Index Review, MSCI will apply the below approach to calculate the Foreign Inclusion Factor (FIF) for Depository Receipts (DRs) where underlying shares are not available for trading. FIF for such DRs will be calculated as the lower of46: (i) the higher of adjusted 13F ownership or float derived from capital raising activities at listing and any subsequent offerings; or (ii) the free float calculated in accordance with the current MSCI Free Float Data Methodology 46 For existing constituents the change to new methodology will be done in a phased manner starting May 2026 Index Review. As part of the May 2026 Index Review, where the current FIF exceeds the value determined on the basis of the new approach, MSCI will set the FIF at the midpoint between these two values. For new index additions, this new approach will be applied upon index inclusion starting from the May 2026 Index Review. MSCI will continue to monitor issuer disclosures and the availability of transparency regarding DRs in circulation. In the continued absence of enhanced transparency, starting from the November 2026 Index Review, MSCI will determine the FIF using the new approach for existing index constituents.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: This rule applies only for non-constituents of the MSCI Global Investable Market Indexes. Consequently, current constituents of the MSCI Global Investable Market Indexes would remain in the index if the stock price passes the USD 10,000 threshold. For example, In cases where the latest 3-month ATVR is not calculated due to suspensions, nonconstituents of the Investable Market Index are not eligible for the Market Investable Equity Universe. ATVR values used in the regular Index Reviews as well as the relevant thresholds are not rounded. - In some cases of FIF changes due to significant FIF corrections, regulatory changes in Foreign Ownership Limits or methodology changes, MSCI may adjust ATVR values by applying the updated FIF during the relevant ATVR calculation period. In the cases of initial public offering of China A shares, MSCI may use trading volumes after the limit up period. Updated: This rule applies only for non-constituents of the MSCI GIMI™. Consequently, current constituents of the MSCI GIMI would remain in the index if the stock price passes the USD 10,000 threshold. For example, In cases where the latest 3-month ATVR is not calculated due to suspensions, nonconstituents of the IMI™ are not eligible for the Market Investable Equity Universe. In some cases of FIF changes due to significant FIF corrections, regulatory changes in Foreign Ownership Limits or methodology changes, MSCI may adjust ATVR values by applying the updated FIF during the relevant ATVR calculation period. ATVR values used in the regular Index Reviews as well as the relevant thresholds are not rounded. - In the cases of initial public offering of China A shares, MSCI may use trading volumes after the limit up period.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: The core free-float-adjusted market capitalization formula is unchanged, but the illustrative tables are revised. The non-FOL example adds a third company and changes sample FIFs and adjusted capitalizations; the FOL example now uses two companies, a "Rounded Free Float" line and 33.33% foreign ownership limits, while omitting the prior foreign-strategic-adjustment rows and the special footnote. (Editorial)

2026-10-02T00:00:00Z

The core free-float-adjusted market capitalization formula is unchanged, but the illustrative tables are revised. The non-FOL example adds a third company and changes sample FIFs and adjusted capitalizations; the FOL example now uses two companies, a "Rounded Free Float" line and 33.33% foreign ownership limits, while omitting the prior foreign-strategic-adjustment rows and the special footnote. Previous: Example: Calculating Free Float-Adjusted Market Capitalization: Securities Not Subject to FOLs Company A Company B Total number of shares outstanding 10,000,000 10,000,000 Number of shares classified as non-free float 4,300,000 8,760,000 Non-free float shareholding (%) 43.0% 87.6% Free float (%) 57.0% 12.4% Foreign Inclusion Factor (FIF) 0.60 0.12 Market price ($) 500 500 Full market capitalization ($ mm) 5,000 5,000 Free float-adjusted market capitalization ($ mm) 3,000 600 Example: Calculating Free Float-Adjusted Market Capitalization: Securities Subject to FOLs Company C Company D* Company E Total number of shares outstanding 10,000,000 10,000,000 10,000,000 All shares classified as non-free float 8,760,000 4,000,000 4,000,000 – those held by foreign investors as strategic 1,000,000 1,000,000 – Total non-free float shareholdings (%) 40.0 40.0 Free float (%) 12.4 60.0 60.0 Foreign ownership limit (%) 33.3 33.3 33.3 Foreign strategic shareholding (%) 10.0 10.0 0.0 Foreign ownership limit less the foreign strategic shareholding (%) 23.3 23.3 33.3 Foreign Inclusion Factor (FIF) 0.12 0.25 0.33 Market price ($) 500 500 500 Full market capitalization ($ mm) 5,000 5,000 5,000 Free float-adjusted market capitalization ($ mm) 600 1,250 1,650 *This example is applicable only to companies classified in countries for which foreign room cannot be monitored Updated: Example: Calculating Free Float-Adjusted Market Capitalization: Securities Not Subject to FOLs Company A Company B Company C Total number of shares outstanding 10,000,000 10,000,000 10,000,000 Number of shares classified as non-free float 4,300,000 8,760,000 9,641,000 Non-free float shareholding (%) 43.0% 87.6% 96.41% Free float (%) 57.0% 12.4% 3.59% Foreign Inclusion Factor (FIF) 0.575 0.125 0.036 Market price ($) 500 500 500 Full market capitalization ($ mm) 5,000 5,000 5,000 Free float-adjusted market capitalization ($ mm) 2,875 625 180 Example: Calculating Free Float-Adjusted Market Capitalization: Securities Subject to FOLs Company D Company E Total number of shares outstanding 10,000,000 10,000,000 All shares classified as non-free float 8,760,000 4,000,000 – those held by foreign investors as strategic 1,000,000 1,000,000 Total non-free float shareholdings (%) 43.0 Free float (%) 12.4 57 Rounded Free Float 0.125 0.575 Foreign ownership limit (%) 33.33 33.33 Foreign Inclusion Factor (FIF) 0.125 0.333 Market price ($) 500 500 Full market capitalization ($ mm) 5,000 5,000 Free float-adjusted market capitalization ($ mm) 625 1,665

MSCI ACWI: The FIF methodology replaces the prior >15% / <15% split with three free-float bands: >25%, 5–25%, and <5%. Rounding changes to 2.5%, 0.5%, and 0.1% respectively, with the upper band now rounded to the nearest increment rather than rounded up, and FOLs are rounded to 0.1%. For securities with a LIF, both adjusted free float and FOL are now rounded to 0.1%, replacing the prior tiered 5%/1% treatment. (Minor)

2026-10-02T00:00:00Z

The FIF methodology replaces the prior >15% / <15% split with three free-float bands: >25%, 5–25%, and <5%. Rounding changes to 2.5%, 0.5%, and 0.1% respectively, with the upper band now rounded to the nearest increment rather than rounded up, and FOLs are rounded to 0.1%. For securities with a LIF, both adjusted free float and FOL are now rounded to 0.1%, replacing the prior tiered 5%/1% treatment. Previous: Securities with Free Float Greater Than 15% and Not Subject to FOLs For securities with free float greater than 15%, the FIF is equal to the estimated free float, rounded up to the closest 5%. Securities with Free Float Less than 15% and Not Subject to FOLs For securities with free float less than 15%, the FIF is equal to the estimated free float, rounded to the closest 1%. Securities Subject to FOLs For securities subject to FOLs, the FIF is equal to the lesser of: Estimated free float available to foreign investors, - Rounded up to the closest 5%, if the free float is greater than 15%. - Rounded to the closest 1%, if the free float is less than 15%. FOL rounded to the closest 1%. Securities Affected by Other Foreign Investment Restrictions In the case where other foreign investment restrictions exist, which materially limit the ability of international investors to freely invest in a particular equity market, sector or security, a Limited Investability Factor (LIF) may be applied to insure that the investability objectives of the MSCI Indexes can be achieved. Free Float-Adjusted for Limited Investability = Free Float for Foreign Investors times the LIF Therefore, for securities subject to other foreign investment restrictions, the Foreign Inclusion Factor is equal to the lesser of: Estimated free float-adjusted for limited investability, - Rounded up to the closest 5%, if the free float-adjusted for limited investability is greater than 15%. - Rounded to the closest 1%, if the free float-adjusted for limited investability is less than 15%. FOL rounded to the closest 1%. Updated: Securities with Free Float Greater Than 25% and Not Subject to FOLs For securities with free float greater than 25%, the FIF is equal to the estimated free float, rounded to the closest 2.5%. Securities with Free Float between 5% and 25% and Not Subject to FOLs For securities with free float between 5% and 25%, the FIF is equal to the estimated free float, rounded to the closest 0.5%. Securities with Free Float less Than 5% and Not Subject to FOLs For securities with free float less than 5%, the FIF is equal to the estimated free float, rounded to the closest 0.1%. Securities Subject to FOLs For securities subject to FOLs, the FIF is equal to the lesser of: Estimated free float available to foreign investors, - Rounded to the closest 2.5%, if the free float is greater than 25%. - Rounded to the closest 0.5%, if the free float between 5% and 25%. - Rounded to the closest 0.1%, if the free float is less than 5% FOL rounded to the closest 0.1%. Securities Affected by Other Foreign Investment Restrictions In the case where other foreign investment restrictions exist, which materially limit the ability of international investors to freely invest in a particular equity market, sector or security, a Limited Investability Factor (LIF) may be applied to ensure that the investability objectives of the MSCI Indexes can be achieved. Free Float-Adjusted for Limited Investability = Free Float for Foreign Investors times the LIF Therefore, for securities subject to other foreign investment restrictions, the Foreign Inclusion Factor is equal to the lesser of: Estimated free float-adjusted for limited investability rounded to the closest 0.1% FOL adjusted for limited investability rounded to the closest 0.1%.

MSCI ACWI: For securities subject to foreign ownership limits, the methodology no longer adjusts the FOL downward for foreign non-free-float shareholdings. The foreign-investor free float is now the lower of the estimated free float and the unadjusted FOL, and the prior applicability note for countries where foreign room is not monitored was removed. (Minor)

2026-10-02T00:00:00Z

For securities subject to foreign ownership limits, the methodology no longer adjusts the FOL downward for foreign non-free-float shareholdings. The foreign-investor free float is now the lower of the estimated free float and the unadjusted FOL, and the prior applicability note for countries where foreign room is not monitored was removed. Previous: Free Float (%) = 100% minus Non-Free Float Shareholdings (%) Securities Subject to FOLs For securities subject to FOLs, the estimated free float available to foreign investors is equal to the lesser of: Estimate of free float, as defined above. FOL adjusted for non-free float stakes held by foreign investors*. * It is applicable only to companies classified in countries for which foreign room is not monitored Free Float for Foreign Investors (%) = Lower of: 100% minus Non-Free Float Shareholdings, including Domestic and Foreign Shareholdings FOL minus Foreign Non-Free Float Shareholdings Updated: Free Float (%) = 100% minus Non-Free Float Shareholdings (%) Securities Subject to FOLs For securities subject to FOLs, the estimated free float available to foreign investors is equal to the lesser of: Estimate of free float, as defined above. FOL Free Float for Foreign Investors (%) = Lower of: 100% minus Non-Free Float Shareholdings, including Domestic and Foreign Shareholdings FOL

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: The illustrative example of the two-Index-Review lag is rolled forward from February/August 2026 to August 2026/February 2027. The reported review result is updated from no additional markets qualifying in February 2026 to no additional markets qualifying in August 2026. Index names are also abbreviated with GIMI™/IMI™ trademarks; the eligibility thresholds, Frontier Markets exception, two-review lag, and country list are unchanged. (Editorial)

2026-10-02T00:00:00Z

The illustrative example of the two-Index-Review lag is rolled forward from February/August 2026 to August 2026/February 2027. The reported review result is updated from no additional markets qualifying in February 2026 to no additional markets qualifying in August 2026. Index names are also abbreviated with GIMI™/IMI™ trademarks; the eligibility thresholds, Frontier Markets exception, two-review lag, and country list are unchanged. Previous: Securities may be represented in the MSCI Global Investable Market Indexes by a listing in the country where they are classified (i.e. “local listing”). In addition, securities may also be represented by a listing in a different country (i.e. “foreign listing”) in certain MSCI Country Investable Market Indexes (IMI) within the MSCI Global Investable Market Indexes. Calculate the aggregate free float-adjusted market capitalization of all such securities This aggregate market capitalization of securities represented by foreign listings should represent at least: - 5% of the free float-adjusted market capitalization of the relevant MSCI Country IMI 42, and - 0.05% of the free float-adjusted market capitalization of the MSCI ACWI IMI. For example, foreign listings will become eligible for a country at the August 2026 Index Review once that country meets the Foreign Listing Materiality Requirement at the February 2026 Index Review. 42 Securities represented by foreign listings are included in the free float-adjusted market capitalization of the MSCI Country IMI for the purpose of this calculation. At the February 2026 Index Review, no additional markets met the Foreign Listing Materiality Requirement. Updated: Securities may be represented in the MSCI GIMI™ by a listing in the country where they are classified (i.e. “local listing”). In addition, securities may also be represented by a listing in a different country (i.e. “foreign listing”) in certain MSCI Country IMI™ Indexes within the MSCI GIMI. Calculate the aggregate free float-adjusted market capitalization of all such securities This aggregate market capitalization of securities represented by foreign listings should represent at least: - 5% of the free float-adjusted market capitalization of the relevant MSCI Country IMI 42, and - 0.05% of the free float-adjusted market capitalization of the MSCI ACWI IMI™. For example, foreign listings will become eligible for a country at the February 2027 Index Review once that country meets the Foreign Listing Materiality Requirement at the August 2026 Index Review. 42 Securities represented by foreign listings are included in the free float-adjusted market capitalization of the MSCI Country IMI™ for the purpose of this calculation. At the August 2026 Index Review, no additional markets met the Foreign Listing Materiality Requirement.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Companies that are classified to and/or incorporated in such countries are not eligible for inclusion in the MSCI Global Investable Market Indexes. MSCI regularly assesses eligibility of new markets and communicates their potential inclusion in the MSCI GIMI in advance of implementation. Updated: Companies that are classified to and/or incorporated in such countries are not eligible for inclusion in the MSCI GIMI™. MSCI regularly assesses eligibility of new markets and communicates their potential inclusion in the MSCI GIMI™ in advance of implementation.

MSCI ACWI: The list of markets subject to minimum-constituent index continuity rules has been updated from the February 2026 Index Review to the August 2026 Index Review. Within the affected frontier markets, Hungary is replaced by Peru; New Zealand and Egypt remain listed for developed and emerging markets, respectively. (Minor)

2026-10-02T00:00:00Z

The list of markets subject to minimum-constituent index continuity rules has been updated from the February 2026 Index Review to the August 2026 Index Review. Within the affected frontier markets, Hungary is replaced by Peru; New Zealand and Egypt remain listed for developed and emerging markets, respectively. Previous: The following table below shows those markets where after the application of the index maintenance methodology, the Standard Index contains less than the minimum number of constituents, and hence the index continuity rules have been applied to achieve the minimum number of constituents as part of the February 2026 Index Review. Developed Markets Emerging Markets Frontier Markets New Zealand Egypt Serbia Hungary Updated: The following table below shows those markets where after the application of the index maintenance methodology, the Standard Index contains less than the minimum number of constituents, and hence the index continuity rules have been applied to achieve the minimum number of constituents as part of the August 2026 Index Review. Developed Markets Emerging Markets Frontier Markets New Zealand Egypt Serbia Peru

MSCI ACWI: The update increases the full and float market-cap thresholds used in the market classification Size and Liquidity Requirements for Frontier, Emerging, and Developed Markets, in both entry and maintenance requirements. It also updates the World Bank high-income GNI reference from USD 13,935 in 2024 to USD 14,375 in 2025, and changes the stated minimum-in-use review from February 2026 to August 2026. ATVR requirements, company counts, and market accessibility criteria are unchanged. (Minor)

2026-10-02T00:00:00Z

The update increases the full and float market-cap thresholds used in the market classification Size and Liquidity Requirements for Frontier, Emerging, and Developed Markets, in both entry and maintenance requirements. It also updates the World Bank high-income GNI reference from USD 13,935 in 2024 to USD 14,375 in 2025, and changes the stated minimum-in-use review from February 2026 to August 2026. ATVR requirements, company counts, and market accessibility criteria are unchanged. Previous: Criteria Frontier Emerging Developed A Economic Development Country GNI per capita 25% above the A.1 Sustainability of economic development No requirement No requirement World Bank high income threshold * for 3 consecutive years B Size and Liquidity Requirements B.1 Entry requirement Number of companies meeting the following Standard 1 3 5 Index criteria over each of the last 8 Index Reviews Company size (full market cap) ** USD 226 mm USD 3,800 mm USD 7,599 mm Security size (float market cap) ** USD 113 mm USD 1,900 mm USD 3,800 mm Security liquidity 2.5% ATVR 15% ATVR 20% ATVR B.2 Maintenance requirements Number of companies meeting the following Standard - 1 1 Index criteria Company size (full market cap) ** USD 226 mm USD 3,800 mm USD 7,599 mm Security size (float market cap) ** USD 113 mm USD 1,900 mm USD 3,800 mm Security liquidity 2.5% ATVR 15% ATVR 20% ATVR Minimum number of securities in the Market Investable 1 3 5 Equity Universe C Market Accessibility Criteria C.1 Openness to foreign ownership At least some Significant Very high C.2 Ease of capital inflows / outflows At least partial Significant Very high C.3 Efficiency of operational framework Modest Good and tested Very high C.4 Availability of investment instrument High High Unrestricted C.5 Stability of the institutional framework Modest Modest Very high * High income threshold: 2024 GNI per capita of USD 13,935 (World Bank, Atlas method) ** Minimum in use for the February 2026 Index Review, updated on a quarterly basis Updated: Criteria Frontier Emerging Developed A Economic Development Country GNI per capita 25% above the A.1 Sustainability of economic development No requirement No requirement World Bank high income threshold * for 3 consecutive years B Size and Liquidity Requirements B.1 Entry requirement Number of companies meeting the following Standard 1 3 5 Index criteria over each of the last 8 Index Reviews Company size (full market cap) ** USD 236 mm USD 4,069 mm USD 8,138 mm Security size (float market cap) ** USD 118 mm USD 2,034 mm USD 4,069 mm Security liquidity 2.5% ATVR 15% ATVR 20% ATVR B.2 Maintenance requirements Number of companies meeting the following Standard - 1 1 Index criteria Company size (full market cap) ** USD 236 mm USD 4,069 mm USD 8,138 mm Security size (float market cap) ** USD 118 mm USD 2,034 mm USD 4,069 mm Security liquidity 2.5% ATVR 15% ATVR 20% ATVR Minimum number of securities in the Market Investable 1 3 5 Equity Universe C Market Accessibility Criteria C.1 Openness to foreign ownership At least some Significant Very high C.2 Ease of capital inflows / outflows At least partial Significant Very high C.3 Efficiency of operational framework Modest Good and tested Very high C.4 Availability of investment instrument High High Unrestricted C.5 Stability of the institutional framework Modest Modest Very high * High income threshold: 2025 GNI per capita of USD 14,375 (World Bank, Atlas method) ** Minimum in use for the August 2026 Index Review, updated on a quarterly basis

MSCI ACWI: The disclosed Equity Universe Minimum Size Requirement was updated from the February 2026 Index Review level to the August 2026 level. The minimum full market capitalization rose from USD 507 million to USD 585 million for Developed and Emerging Markets, and from USD 13 million to USD 14 million for Frontier Markets. (Minor)

2026-10-02T00:00:00Z

The disclosed Equity Universe Minimum Size Requirement was updated from the February 2026 Index Review level to the August 2026 level. The minimum full market capitalization rose from USD 507 million to USD 585 million for Developed and Emerging Markets, and from USD 13 million to USD 14 million for Frontier Markets. Previous: At the time of the February 2026 Index Review, the Equity Universe Minimum Size Requirement was USD 507 million for the Developed and Emerging Markets while it was USD 13 million for the Frontier Markets. Updated: At the time of the August 2026 Index Review, the Equity Universe Minimum Size Requirement was USD 585 million for the Developed and Emerging Markets while it was USD 14 million for the Frontier Markets.

MSCI ACWI: The surveillance-board lookback period for India ASM, Korea Investment Alert/Investment Risk, and Taiwan Disposition Board securities now starts at the current Index Review Price Cutoff Date rather than the previous one. Indonesia Watchlist Board Criteria 10 is separately retained under the previous cutoff date. The affected securities remain ineligible for IMI additions and Standard/Small Cap size-segment migrations at that review and are re-evaluated at the next review. (Major)

2026-10-02T00:00:00Z

The surveillance-board lookback period for India ASM, Korea Investment Alert/Investment Risk, and Taiwan Disposition Board securities now starts at the current Index Review Price Cutoff Date rather than the previous one. Indonesia Watchlist Board Criteria 10 is separately retained under the previous cutoff date. The affected securities remain ineligible for IMI additions and Standard/Small Cap size-segment migrations at that review and are re-evaluated at the next review. Previous: During Index Reviews, securities that enter any of the following boards during the period starting from the previous Index Review Price Cutoff Date (as defined in section 3.1.9) until three business days before the current Index Review effective date are subject to the following treatment: India Short Term and Long Term Additional Surveillance Measure (ASM) Indonesia Watchlist Board due to Criteria 10 Korea Investment Alert Issue and Investment Risk Issue Taiwan Disposition Board In such cases, after the application of all the relevant index review criteria including investability screens and size segmentation determination, MSCI will not implement the following index movement for those securities: additions to IMI and size-segment migrations between the Standard and Small Cap Indexes Such securities will be re-evaluated for inclusion or size-segment migration in the subsequent Index Review. Updated: During Index Reviews, securities that enter any of the following boards during the period starting from the current Index Review Price Cutoff Date (as defined in section 3.1.9) until three business days before the current Index Review effective date are subject to the following treatment: India Short Term and Long Term Additional Surveillance Measure (ASM) Korea Investment Alert Issue and Investment Risk Issue Taiwan Disposition Board In such cases, after the application of all the relevant index review criteria including investability screens and size segmentation determination, MSCI will not implement the following index movement for those securities: additions to IMI™ and size-segment migrations between the Standard and Small Cap Indexes Securities that enter Indonesia Watchlist Board due to Criteria 10 are subject to the same treatment but monitored starting from the previous Index Review Price Cutoff Date (as defined in section 3.1.9) until three business days before the current Index Review effective date. Such securities will be re-evaluated for inclusion or size-segment migration in the subsequent Index Review.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: The updated Emerging Markets eligible-markets table adds "Taiwan Innovation Board" to the Taiwan market segments. The other differences are primarily line-break and table-layout reformatting. (Minor)

2026-10-02T00:00:00Z

The updated Emerging Markets eligible-markets table adds "Taiwan Innovation Board" to the Taiwan market segments. The other differences are primarily line-break and table-layout reformatting. Previous: Level 1 Level 2 BRAZIL (8) B3 (Brasil Bolsa Balcão) Yes Novo Mercado Traditional CHILE Santiago Stock Exchange - - ChiNext Shenzhen Stock Exchange Main Board Shenzhen Stock Exchange - Hong Kong Stock Connect - Main Board CHINA (1) Shanghai Stock Exchange Yes STAR Market Shanghai Stock Exchange - Hong Kong Stock Connect - Growth Enterprise Market Stock Exchange of Hong Kong Main Board Global Market (2) COLOMBIA Colombian Stock Exchange - Local Market Free Market (2) CZECH REPUBLIC Prague Stock Exchange - Prime Market Standard Market EGYPT Egyptian Exchange Main Market - GREECE Athens Stock Exchange Main Market - Beta Market (5) BSE Xtend HUNGARY Budapest Stock Exchange - Prime Market Standard Market Main Board National Stock Exchange SME Board (7) INDIA - Main Board Mumbai Stock Exchange SME Board Acceleration Board (7) Development Board INDONESIA Indonesia Stock Exchange - Main Board New Economy Board (6) KOSPI Market KOREA Korea Exchange - KOSDAQ Market Main Market KUWAIT(4) Boursa Kuwait - Premier Market ACE Market MALAYSIA Bursa Malaysia - Main Market Equity Segment MEXICO Mexican Stock Exchange - Global Market Segment (2) Risk Capital Segment PERU Lima Stock Exchange Yes Securities Market PHILIPPINES Philippine Stock Exchange Main Board - Main Market POLAND Warsaw Stock Exchange - New Connect Parallel Market Main Market QATAR Qatar Stock Exchange - Venture Market Main Market SAUDI ARABIA (3) Saudi Exchange - Nomu - Parallel Market (5) AltX SOUTH AFRICA Johannesburg Stock Exchange - Main Board Taiwan Stock Exchange TWSE Main Board TAIWAN - Taipei Exchange TPEx Main Board mai THAILAND Stock Exchange of Thailand - SET STAR Market Main Market TURKEY Borsa Istanbul - SubMarket (5) Structured Products and Funds Market Growth Market Abu Dhabi Securities Exchange Main Market UNITED ARAB EMIRATES - Dubai Financial Market - Nasdaq Dubai - (1) For a more detailed description of the MSCI universe, please refer to Appendix III (2) Listings on this market segment are eligible Updated: Level 1 Level 2 BRAZIL (8) B3 (Brasil Bolsa Balcão) Yes Novo Mercado Traditional CHILE Santiago Stock Exchange - ChiNext Shenzhen Stock Exchange Main Board Shenzhen Stock Exchange - Hong Kong Stock Connect Main Board CHINA (1) Shanghai Stock Exchange Yes STAR Market Shanghai Stock Exchange - Hong Kong Stock Connect Growth Enterprise Market Stock Exchange of Hong Kong Main Board Global Market (2) COLOMBIA Colombian Stock Exchange - Local Market Free Market (2) CZECH REPUBLIC Prague Stock Exchange Prime Market - Standard Market EGYPT Egyptian Exchange Main Market - GREECE Athens Stock Exchange Main Market - Beta Market (5) BSE Xtend HUNGARY Budapest Stock Exchange - Prime Market Standard Market Main Board National Stock Exchange SME Board (7) INDIA - Main Board Mumbai Stock Exchange SME Board Acceleration Board (7) Development Board INDONESIA Indonesia Stock Exchange - Main Board New Economy Board (6) KOSPI Market KOREA Korea Exchange - KOSDAQ Market Main Market KUWAIT(4) Boursa Kuwait - Premier Market ACE Market MALAYSIA Bursa Malaysia - Main Market Equity Segment MEXICO Mexican Stock Exchange - Global Market Segment (2) Risk Capital Segment PERU Lima Stock Exchange Yes Securities Market PHILIPPINES Philippine Stock Exchange Main Board - Main Market POLAND Warsaw Stock Exchange - New Connect Parallel Market Main Market QATAR Qatar Stock Exchange - Venture Market Main Market SAUDI ARABIA (3) Saudi Exchange - Nomu - Parallel Market (5) AltX SOUTH AFRICA Johannesburg Stock Exchange - Main Board TWSE Main Board Taiwan Stock Exchange TAIWAN - Taiwan Innovation Board Taipei Exchange TPEx Main Board mai THAILAND Stock Exchange of Thailand - SET STAR Market Main Market TURKEY Borsa Istanbul - SubMarket (5) Structured Products and Funds Marke Growth Market Abu Dhabi Securities Exchange Main Market UNITED ARAB EMIRATES - Dubai Financial Market - Nasdaq Dubai - (1) For a more detailed description of the MSCI universe, please refer to Appendix III (2) Listings on this market seg

MSCI ACWI: The developed-markets eligible exchange table adds Texas Stock Exchange under the USA, marked with footnote (6). The new footnote states that listings on this exchange are eligible for the MSCI Indexes from July 06, 2026. Other table changes appear to be formatting or line-break adjustments. (Minor)

2026-10-02T00:00:00Z

The developed-markets eligible exchange table adds Texas Stock Exchange under the USA, marked with footnote (6). The new footnote states that listings on this exchange are eligible for the MSCI Indexes from July 06, 2026. Other table changes appear to be formatting or line-break adjustments. Previous: - Nasdaq First North Growth Market – Denmark First North Premier Growth Market Nasdaq Helsinki Main Market FINLAND First North Growth Market - Nasdaq First North Growth Market – Finland First North Premier Growth Market Euronext Growth Market FRANCE Euronext Paris - Regulated Market Basic Board GERMANY Deutsche Börse Xetra - EU Regulated market Open Market Growth Enterprise Market HONG KONG Stock Exchange of Hong Kong Yes Main Board (3) Euronext Growth Market IRELAND Euronext Dublin - Regulated Market ISRAEL Tel Aviv Stock Exchange - Yes Euronext Growth Market Global Equity Market (1) ITALY Borsa Italiana - Regulated Market Market for Investment Vehicle (2) Growth Market Prime Market Tokyo Stock Exchange Standard Market JAPAN Tokyo Pro (2) - Main Market Nagoya Stock Exchange Next Market Premier Market NETHERLANDS Euronext Amsterdam Regulated Market Yes NEW ZEALAND New Zealand Stock Exchange Main Board - Euronext Expand NORWAY Euronext Oslo Børs Euronext Growth Market (2) - Regulated Market PORTUGAL Euronext Lisbon Regulated Market - Catalist SINGAPORE Singapore Exchange Yes Main Board Madrid Stock Exchange Mercado Continuo SPAIN Growth Companies - BME Growth SOCIMI Nasdaq Stockholm Main Market Nordic Growth Market Main Regulated Market Nordic SME SWEDEN (5) Yes First North Growth Market Nasdaq First North Growth Market – Sweden First North Premier Growth Market Spotlight Stock Exchange - Blue Chip Shares Mid-/Small-Cap Shares SIX Swiss Exchange Secondary Listing Shares SWITZERLAND Sparks Shares - Sponsored Foreign Shares (1) SME Main Market BX Swiss Sponsored Shares Admission to Trading Only (1) UNITED KINGDOM London Stock Exchange AIM - Main Market (4) New York Stock Exchange - Capital Market Nasdaq Stock Market Global Market USA Global Select Market - NYSE American - NYSE Arca - Cboe BZX Exchange - (5) Eligibility of Foreign Listings effective November 2024 Index Review Updated: - Nasdaq First North Growth Market – Denmark First North Premier Growth Market Nasdaq Helsinki Main Market FINLAND - First North Growth Market Nasdaq First North Growth Market – Finland First North Premier Growth Market Euronext Growth Market FRANCE Euronext Paris - Regulated Market Basic Board GERMANY Deutsche Börse Xetra EU Regulated market - Open Market Growth Enterprise Market HONG KONG Stock Exchange of Hong Kong Yes Main Board (3) Euronext Growth Market IRELAND Euronext Dublin - Regulated Market ISRAEL Tel Aviv Stock Exchange - Yes Euronext Growth Market Global Equity Market (1) ITALY Borsa Italiana - Regulated Market Market for Investment Vehicle (2) Growth Market Prime Market Tokyo Stock Exchange Standard Market JAPAN Tokyo Pro (2) - Main Market Nagoya Stock Exchange Next Market Premier Market NETHERLANDS Euronext Amsterdam Regulated Market Yes NEW ZEALAND New Zealand Stock Exchange Main Board - Euronext Expand NORWAY Euronext Oslo Børs - Euronext Growth Market (2) Regulated Market PORTUGAL Euronext Lisbon Regulated Market - Catalist SINGAPORE Singapore Exchange Yes Main Board Madrid Stock Exchange Mercado Continuo SPAIN Growth Companies - BME Growth SOCIMI Nasdaq Stockholm Main Market Nordic Growth Market Main Regulated Market Nordic SME SWEDEN (5) Yes First North Growth Market Nasdaq First North Growth Market – Sweden First North Premier Growth Market Spotlight Stock Exchange - Blue Chip Shares Mid-/Small-Cap Shares SIX Swiss Exchange Secondary Listing Shares SWITZERLAND - Sparks Shares Sponsored Foreign Shares (1) SME Main Market BX Swiss Sponsored Shares Admission to Trading Only (1) UNITED KINGDOM London Stock Exchange AIM - Main Market (4) New York Stock Exchange - Capital Market Nasdaq Stock Market Global Market Global Select Market USA - NYSE American - NYSE Arca - Cboe BZX Exchange - Texas Stock Exchange (6) - (5) Eligibility of Foreign Listings effective November 2024 Index Review (6) Listings on this exchange are eligible for the MSCI Indexes from Effective 2026-07-06

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: During Index Reviews, existing constituents of the IMI in average and low liquidity markets may remain in a Market Investable Universe if their 12‐ month ATVR stays above 2/3rd of the minimum level requirement of 15% for average liquidity markets and 5% for low liquidity markets. Existing constituents of the IMI in very low liquidity markets may remain in a Market Investable Universe if their 12‐ month ATVR stays above 1%. Furthermore, in order to remain in the Investable Market Indexes (IMI), a constituent of the MSCI Frontier Markets IMI will need to have a 12-month Frequency of Trading of at least 10%, applicable to all liquidity categories. However, MSCI would apply a Liquidity Adjustment Factor of 0.5 to the weight of the security, and in the subsequent Index Review, MSCI: Would delete the security from the index if the security does not meet at least half of the liquidity requirements for existing constituents calculated after applying the Liquidity Adjustment Factor or Would maintain the security in the GIMI and remove the Liquidity Adjustment Factor if the security meets all the liquidity requirements for new constituents, calculated before applying the Liquidity Adjustment Factor for three consecutive Index Reviews or Would continue maintaining the security in the GIMI with the Liquidity Adjustment Factor of Updated: During Index Reviews, existing constituents of the IMI™ in average and low liquidity markets may remain in a Market Investable Universe if their 12‐month ATVR stays above 2/3rd of the minimum level requirement of 15% for average liquidity markets and 5% for low liquidity markets. Existing constituents of the IMI in very low liquidity markets may remain in a Market Investable Universe if their 12‐month ATVR stays above 1%. Furthermore, in order to remain in the IMI, a constituent of the MSCI Frontier Markets IMI will need to have a 12-month Frequency of Trading of at least 10%, applicable to all liquidity categories. However, MSCI would apply a Liquidity Adjustment Factor of 0.5 to the weight of the security, and in the subsequent Index Review, MSCI: Would delete the security from the index if the security does not meet at least half of the liquidity requirements for existing constituents calculated after applying the Liquidity Adjustment Factor or Would maintain the security in the GIMI™ and remove the Liquidity Adjustment Factor if the security meets all the liquidity requirements for new constituents, calculated before applying the Liquidity Adjustment Factor for three consecutive Index Reviews or Would continue maintaining the security in the GIMI with the Liquidity Adjustment Factor of

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: The corresponding minimum liquidity requirement levels are set at 2.5%, 5% or 15% 12‐ month ATVR, respectively. For each Frontier Market MSCI considers the following factors: The proportion of the country’s IMI (in terms of number of constituents and weight) deleted from the index due to failing the liquidity requirements The proportion of the country’s Equity Universe (in terms of number of constituents and weight) not included in the IMI due to failing the liquidity requirements, and how it compares to other Frontier Markets The average liquidity level for the country’s Equity Universe, and how it compares to other Frontier Markets The country’s historical liquidity level trends and how they compare to other Frontier Markets The size and number of constituents in the country IMI Index relative to other Frontier Markets Updated: The corresponding minimum liquidity requirement levels are set at 2.5%, 5% or 15% 12‐month ATVR, respectively. For each Frontier Market MSCI considers the following factors: The proportion of the country’s IMI™ (in terms of number of constituents and weight) deleted from the index due to failing the liquidity requirements The proportion of the country’s Equity Universe (in terms of number of constituents and weight) not included in the IMI due to failing the liquidity requirements, and how it compares to other Frontier Markets The average liquidity level for the country’s Equity Universe, and how it compares to other Frontier Markets The country’s historical liquidity level trends and how they compare to other Frontier Markets The size and number of constituents in the country IMI Index relative to other Frontier Markets

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: As described in Section 3, during each Index Review, the Equity Universe is updated and all size-segments of the Global Investable Market Indexes are reviewed. The following index maintenance activities are undertaken as part of the Index Review for the Micro Cap Size- Segment: Updating the Micro Cap Minimum Size Requirement. Updated: As described in Section 3, during each Index Review, the Equity Universe is updated and all size-segments of the GIMI™ are reviewed. The following index maintenance activities are undertaken as part of the Index Review for the Micro Cap Size-Segment: Updating the Micro Cap Minimum Size Requirement.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: This section should be read in conjunction with the earlier Section 2 ‘Constructing the MSCI Global Investable Market Indexes’ and Section 3 ‘Maintaining the MSCI Global Investable Market Indexes’. The calculation of the MSCI All Cap Indexes is currently limited to Developed Markets. Updated: This section should be read in conjunction with the earlier Section 2 ‘Constructing the MSCI GIMI™’ and Section 3 ‘Maintaining the MSCI GIMI’. The calculation of the MSCI All Cap Indexes is currently limited to Developed Markets.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: The updated methodology adds an exception to the existing five-business-day deadline for amending Index Review changes. If new information emerges after that deadline but before the Index Review effective date, MSCI may make amendments on shorter notice to minimize turnover or avoid replicability issues. (Major)

2026-10-02T00:00:00Z

The updated methodology adds an exception to the existing five-business-day deadline for amending Index Review changes. If new information emerges after that deadline but before the Index Review effective date, MSCI may make amendments on shorter notice to minimize turnover or avoid replicability issues. Updated: In certain scenarios where new information emerges after this five-business-day deadline but prior to the Index Review effective date, MSCI may amend the Index Review changes on shorter notice in order to minimize turnover or avoid replicability issues.

MSCI ACWI: The updated section abbreviates the index name to MSCI GIMI™ and adds footnote 33. The new footnote establishes a special minimum float-adjusted market capitalization requirement when a Standard Index constituent has a post-event FIF below 0.15, equal to two-thirds of 1.8 times one-half of the Standard Index Interim Size-Segment Cutoff. (Major)

2026-10-02T00:00:00Z

The updated section abbreviates the index name to MSCI GIMI™ and adds footnote 33. The new footnote establishes a special minimum float-adjusted market capitalization requirement when a Standard Index constituent has a post-event FIF below 0.15, equal to two-thirds of 1.8 times one-half of the Standard Index Interim Size-Segment Cutoff. Previous: When there is a corporate event affecting index constituents, non-index constituents that are involved in the event are considered for immediate inclusion in the MSCI Global Investable Market Indexes, as long as they meet all the index constituent eligibility rules and guidelines described in Sub-sections 2.2 and 2.4 with the exception of the length of trading and liquidity screens and minimum foreign room requirement. Such non-index constituents are treated as a continuation of index constituents and are subject to foreign room thresholds as defined in section 3.1.6.2 applicable for existing constituents. Updated: When there is a corporate event affecting index constituents, non-index constituents that are involved in the event are considered for immediate inclusion in the MSCI GIMI™, as long as they meet all the index constituent eligibility rules and guidelines described in Sub-sections 2.2 and 2.4 with the exception of the length of trading and liquidity screens and minimum foreign room requirement. Such non-index constituents are treated as a continuation of index constituents and are subject to foreign room thresholds as defined in section 3.1.6.2 applicable for existing constituents. 33 If the Standard Index constituent has a FIF lower than 0.15 after the event, the minimum float-adjusted market capitalization requirement is 2/3rd of the 1.8 times one half of the Standard Index Interim Size-Segment Cutoff.

MSCI ACWI: The updated section renames MSCI Global Investable Market Indexes as “MSCI GIMI™” and inserts a line break, which are presentational changes. More importantly, it deletes former footnote 33 stating a minimum float-adjusted market capitalization requirement for Standard Index constituents with a post-event FIF below 0.15. No effective date for the change is stated in the text. (Major)

2026-10-02T00:00:00Z

The updated section renames MSCI Global Investable Market Indexes as “MSCI GIMI™” and inserts a line break, which are presentational changes. More importantly, it deletes former footnote 33 stating a minimum float-adjusted market capitalization requirement for Standard Index constituents with a post-event FIF below 0.15. No effective date for the change is stated in the text. Previous: Securities may be considered for early deletions from MSCI Global Investable Market Indexes due to one of the following scenarios: Securities of companies that file for bankruptcy, companies that file for protection from their creditors and/or are suspended and for which a return to normal business activity and trading is unlikely in the near future. Securities may also be considered for an early deletion due to a corporate event when: The Foreign Inclusion Factor (FIF) of the security decreases or is expected to decrease below 0.1533. 33 If the Standard Index constituent has a FIF lower than 0.15 after the event, the minimum float-adjusted market capitalization requirement is 2/3rd of the 1.8 times one half of the Standard Index Interim Size-Segment Cutoff. Updated: Securities may be considered for early deletions from MSCI GIMI™ due to one of the following scenarios: Securities of companies that file for bankruptcy, companies that file for protection from their creditors and/or are suspended and for which a return to normal business activity and trading is unlikely in the near future. Securities may also be considered for an early deletion due to a corporate event when: The Foreign Inclusion Factor (FIF) of the security decreases or is expected to decrease below 0.1533.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: When a non-index constituent or a World Micro Cap Index constituent is added to the MSCI Global Investable Market Indexes due to a corporate event, or when a constituent of the MSCI Global Small Cap Indexes migrates upwards to the MSCI Global Standard Indexes, the industry classification of the security is reviewed and implemented simultaneously with the event. The industry classification is not reviewed when a security, including a security treated as the continuation of an existing index constituent, remains in the same Size-Segment Index (with the Large and Mid- Cap Indexes being considered as one size index) or migrates to a lower size-segment. Similarly, when a non-index constituent or a World Micro Cap Index constituent is added to the MSCI Global Investable Market Indexes due to a corporate event, or when a constituent of MSCI Global Small Cap Indexes migrates upwards to the MSCI Global Standard Indexes, the Style Segment of the security is reviewed and implemented simultaneously with the event. Updated: When a non-index constituent or a World Micro Cap Index constituent is added to the MSCI GIMI™ due to a corporate event, or when a constituent of the MSCI Global Small Cap Indexes migrates upwards to the MSCI Global Standard Indexes, the industry classification of the security is reviewed and implemented simultaneously with the event. The industry classification is not reviewed when a security, including a security treated as the continuation of an existing index constituent, remains in the same Size-Segment Index (with the Large and Mid-Cap Indexes being considered as one size index) or migrates to a lower size-segment. Similarly, when a non-index constituent or a World Micro Cap Index constituent is added to the MSCI GIMI due to a corporate event, or when a constituent of MSCI Global Small Cap Indexes migrates upwards to the MSCI Global Standard Indexes, the Style Segment of the security is reviewed and implemented simultaneously with the event.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: The revised section replaces the spelled-out Global Investable Market Indexes and Investable Market Index terminology with GIMI™ and IMI™, and it adjusts paragraph/table formatting. The 50% increase and 33% decrease triggers, FIF and float-adjusted capitalization conditions, size-segment migration rules, and deletion criteria remain unchanged. (Editorial)

2026-10-02T00:00:00Z

The revised section replaces the spelled-out Global Investable Market Indexes and Investable Market Index terminology with GIMI™ and IMI™, and it adjusts paragraph/table formatting. The 50% increase and 33% decrease triggers, FIF and float-adjusted capitalization conditions, size-segment migration rules, and deletion criteria remain unchanged. Previous: Corporate Event In order to reflect significant changes in the market capitalization of existing constituents in the Global Investable Market Indexes and in the World All Cap Indexes in a timely fashion while minimizing index turnover, the Size-Segment classification of a security is reviewed simultaneously with the event, if the market capitalization change implied by the event, including potential update in the number of shares for the security, is deemed significant. Moreover, to be added to the Investable Market Index, the securities must meet the minimum foreign room requirement for the Investable Market Index described in Sub-section 2.3.6.2: Minimum Foreign Room Requirement. The post-event Size-Segment of the security, following a significant corporate event, is determined based on the rules outlined in the table below. Security is deleted from MSCI Indexes if it fails to meet any of the criteria outlined below. > 0.15 > 0.5* Standard Cutoff > 1.5*Standard Cutoff Standard < 0.15 >1.8 * 0.5 * Standard Cutoff Small Cap > 0.15 > 0.5* Standard Cutoff Standard < 1.5*Standard Cutoff & > Standard Cutoff > 0.15 < 0.5* Standard Cutoff Small Cap Updated: Corporate Event In order to reflect significant changes in the market capitalization of existing constituents in the GIMI™ and in the World All Cap Indexes in a timely fashion while minimizing index turnover, the Size-Segment classification of a security is reviewed simultaneously with the event, if the market capitalization change implied by the event, including potential update in the number of shares for the security, is deemed significant. Moreover, to be added to the IMI™, the securities must meet the minimum foreign room requirement for the IMI described in Sub-section 2.3.6.2: Minimum Foreign Room Requirement. The post-event Size-Segment of the security, following a significant corporate event, is determined based on the rules outlined in the table below. Security is deleted from MSCI Indexes if it fails to meet any of the criteria outlined below. Small Cap > 1.5*Standard Cutoff > 0.15 > 0.5* Standard Cutoff Standard < 0.15 >1.8 * 0.5 * Standard Cutoff > 0.15 > 0.5* Standard Cutoff Standard < 1.5*Standard Cutoff & > 0.15 < 0.5* Standard Cutoff Small Cap > Standard Cutoff

MSCI ACWI: The methodology title is abbreviated from “MSCI Global Investable Market Indexes Methodology” to “MSCI GIMI™ Methodology” (and subsequently “MSCI GIMI Methodology”). The text also removes a footnote/cross-reference artifact (“30 As described in section 3.2.7”), restoring the sentence to “When subsequent public disclosure…”. No implementation thresholds, timing, deletion rules, or NOS/FIF treatment changes. (Editorial)

2026-10-02T00:00:00Z

The methodology title is abbreviated from “MSCI Global Investable Market Indexes Methodology” to “MSCI GIMI™ Methodology” (and subsequently “MSCI GIMI Methodology”). The text also removes a footnote/cross-reference artifact (“30 As described in section 3.2.7”), restoring the sentence to “When subsequent public disclosure…”. No implementation thresholds, timing, deletion rules, or NOS/FIF treatment changes. Previous: However, if the implementation threshold is not met, such changes are considered for implementation at a subsequent Index Review, subject to the rules applicable for the Index Reviews in accordance with section 3.1.7 or 3.1.8 of the MSCI Global Investable Market Indexes Methodology. When subsequent public 30 As described in section 3.2.7 disclosure is made by the company regarding the new shareholder structure following the event implementation resulting in a different estimate than that calculated at the time of the event, MSCI will update the Number of Shares, and/or FIFs at the following regularly scheduled Index Review in accordance with section 3.1.7 or 3.1.8 of the MSCI Global Investable Market Indexes Methodology. Updated: However, if the implementation threshold is not met, such changes are considered for implementation at a subsequent Index Review, subject to the rules applicable for the Index Reviews in accordance with section 3.1.7 or 3.1.8 of the MSCI GIMI™ Methodology. When subsequent public disclosure is made by the company regarding the new shareholder structure following the event implementation resulting in a different estimate than that calculated at the time of the event, MSCI will update the Number of Shares, and/or FIFs at the following regularly scheduled Index Review in accordance with section 3.1.7 or 3.1.8 of the MSCI GIMI Methodology.

MSCI ACWI: The updated text replaces "Investable Market Indexes" with the abbreviated trademark form "IMI™ Indexes," adds a space before footnote marker 30, and includes the footnote reference directing readers to section 3.2.7 for significant IPOs. The methodology for calculating and applying Interim Market Size-Segment Cutoffs is unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated text replaces "Investable Market Indexes" with the abbreviated trademark form "IMI™ Indexes," adds a space before footnote marker 30, and includes the footnote reference directing readers to section 3.2.7 for significant IPOs. The methodology for calculating and applying Interim Market Size-Segment Cutoffs is unchanged. Previous: For the purpose of determining eligibility for early inclusion of securities, such as significant IPOs30, and/or assigning a company and its securities post a corporate event, e.g., mergers and spin-offs, to the appropriate Size-Segment Index an Interim Size-Segment Cutoff is used. To derive this number the following steps are followed: The Global Minimum Size References and Global Minimum Size Ranges of the Large Cap, the Standard, and the Investable Market Indexes are updated daily as described in Appendix X: Updating the Global Minimum Size References and Ranges. Updated: For the purpose of determining eligibility for early inclusion of securities, such as significant IPOs 30, and/or assigning a company and its securities post a corporate event, e.g., mergers and spin-offs, to the appropriate Size-Segment Index an Interim Size-Segment Cutoff is used. To derive this number the following steps are followed: The Global Minimum Size References and Global Minimum Size Ranges of the Large Cap, the Standard, and the IMI™ Indexes are updated daily as described in Appendix X: Updating the Global Minimum Size References and Ranges. 30 As described in section 3.2.7

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: This is the relevant cutoff date for: - Data used to update the Equity Universe as per Sub-section 2.1: Defining the Equity Universe; - Data used for calculating the updated Equity Universe Minimum Size Requirement as per Sub-section 3.1.2.2: Updating the Equity Universe Minimum Size Requirement; This is the relevant cutoff date for: 28 If the effective date of the Index Review is within the announcement month, in such scenario Price Cutoff Date would also prepone accordingly by the same number of business days. For example, if the effective date of the November 2024 Index - Prices used for calculating market capitalization; - - Data used to update FIFs as per Sub-section 3.1.7: Index Review of changes in Foreign Inclusion Factors (FIFs); Data used to incorporate all foreign room changes. - Data used to update NOS as per Sub-section 3.1.8: Index Review of changes in Number of Shares (NOS). However, in cases of extraordinary events or news related to a specific company identified as a migration between the size-segments or as an addition to the IMI based on the Index Review Price Cutoff Date MSCI may decide not to change the company’s size-segment allocation. Review is November 26, 2024, the price cutoff date will be any one of the 10 business days from October 15, 2024 to October 28, 2024. 28Global holidays such as Thanksgiving, Good Friday and Easter Monday will be considered non-business days when determining price cut-off dates. 29 Currently, only Stock Connect eligible China A shares are included in the MSCI GIMI. Therefore, the China A share market will only be considered open if the Shanghai Stock Exchange, the Shenzhen Stock Exchange and the Stock Connect program are open. Updated: This is the relevant cutoff date for: - - Data used to update the Equity Universe as per Sub-section 2.1: Defining the Equity Universe; Data used for calculating the updated Equity Universe Minimum Size Requirement as per Sub-section 3.1.2.2: Updating the Equity Universe Minimum Size Requirement; This is the relevant cutoff date for: - Prices used for calculating market capitalization; - Data used to update FIFs as per Sub-section 3.1.7: Index Review of changes in Foreign Inclusion Factors (FIFs); - Data used to incorporate all foreign room changes. - Data used to update NOS as per Sub-section 3.1.8: Index Review of changes in Number of Shares (NOS). However, in cases of extraordinary events or news related to a specific company 28 If the effective date of the Index Review is within the announcement month, in such scenario Price Cutoff Date would also prepone accordingly by the same number of business days. For example, if the effective date of the November 2024 Index Review is November 26, 2024, the price cutoff date will be any one of the 10 business days from October 15, 2024 to October 28, 2024. 28Global holidays such as Thanksgiving, Good Friday and Easter Monday will be considered non-business days when determining price cut-off dates. 29 Currently, only Stock Connect eligible China A shares are included in the MSCI GIMI™. Therefore, the China A share market will only be considered open if the Shanghai Stock Exchange, the Shenzhen Stock Exchange and the Stock Connect program are open. identified as a migration between the size-segments or as an addition to the IMI™ based on the Index Review Price Cutoff Date MSCI may decide not to change the company’s size-segment allocation.

MSCI ACWI: The FIF review replaces the prior single free-float change threshold of more than 1% for existing constituents with tiered thresholds based on the security’s free float: at least 2.5% for free float above 25%, 0.5% for free float from 5% to 25%, and 0.1% for free float below 5%. The exceptions to these thresholds are also revised to cover size-segment migrations, deletions from the IMI in connection with Micro Cap additions, and FOL-driven FIF changes, while retaining corrections. (Minor)

2026-10-02T00:00:00Z

The FIF review replaces the prior single free-float change threshold of more than 1% for existing constituents with tiered thresholds based on the security’s free float: at least 2.5% for free float above 25%, 0.5% for free float from 5% to 25%, and 0.1% for free float below 5%. The exceptions to these thresholds are also revised to cover size-segment migrations, deletions from the IMI in connection with Micro Cap additions, and FOL-driven FIF changes, while retaining corrections. Previous: All FIF changes are reflected in the indexes provided the change in free float is more than 1% or in cases of corrections. In addition, all FIF changes are reflected for additions to the Standard/Small Cap Size-Segments, additions to the Micro Cap Index and deletions from the Standard Size-Segment as part of the Index Review. 27 Applicable only for securities still subject to FOLs. For example, if the FOL increases to 100% (i.e., FOL is no longer applicable) prior to the Price Cutoff Date, it will be reflected in the upcoming Index Review. In the case of India, MSCI would consider potential increases in FOL based on data published by Central Depository Services Limited’s (CDSL) and National Securities Depository Limited’s (NSDL). For securities that are not covered by the list provided by the CDSL/NSDL, FOL will be determined based on publicly available data. Updated: All FIF changes are reflected for existing index constituents subject to the following: For securities with free float greater than 25%, FIF/DIF change is implemented only if the absolute change in free float compared to current index DIF is at least 2.5% 27 Applicable only for securities still subject to FOLs. For example, if the FOL increases to 100% (i.e., FOL is no longer applicable) prior to the Price Cutoff Date, it will be reflected in the upcoming Index Review. In the case of India, MSCI would consider potential increases in FOL based on data published by Central Depository Services Limited’s (CDSL) and National Securities Depository Limited’s (NSDL). For securities that are not covered by the list provided by the CDSL/NSDL, FOL will be determined based on publicly available data. For securities with free float between 5% and 25%, FIF/DIF change is implemented only if the absolute change in free float compared to current index DIF is at least 0.5% For securities with free float less than 5%, FIF/DIF change is implemented only if the absolute change in free float compared to current index DIF is at least 0.1% In addition, the above mentioned thresholds would not be applicable and all FIF changes are reflected for: Additions to the Standard/Small Cap Size-Segments, including migrations between these two size-segments as part of the Index Review Additions to the Micro Cap Index, including deletions from the IMI™ as part of the Index Review FOL change resulting in a FIF change; In case of corrections.

MSCI ACWI: A new rule excludes existing IMI constituents with an extreme price increase and FIF below 0.75 from migration into the Standard Indexes. Their treatment depends on 1.8x market-capitalization cutoff tests: smaller constituents remain Small Caps, while larger constituents are deleted from the Small Cap Index, retained in the investable universe, and reconsidered at the next Index Review. (Minor)

2026-10-02T00:00:00Z

A new rule excludes existing IMI constituents with an extreme price increase and FIF below 0.75 from migration into the Standard Indexes. Their treatment depends on 1.8x market-capitalization cutoff tests: smaller constituents remain Small Caps, while larger constituents are deleted from the Small Cap Index, retained in the investable universe, and reconsidered at the next Index Review. Updated: Existing IMI™ constituents that exhibit extreme price increase with a FIF below 0.75 will not be eligible for migration into the Standard Indexes and will be treated based on their market capitalization relative to the Standard Index Market Size-Segment Cutoffs: Existing IMI constituents whose full market capitalization is below 1.8 times the Standard Index Market Size-Segment Cutoff, or whose free float-adjusted market capitalization is below 1.8 times one-half of the Standard Index Market Size-Segment Cutoff, will be retained as Small Cap constituents. Existing IMI constituents whose full market capitalization is at least 1.8 times the Standard Index Market Size-Segment Cutoff, and whose free float-adjusted market capitalization is at least 1.8 times one-half of the Standard Index Market Size-Segment Cutoff, will not be added to the Standard Index and will be deleted from the Small Cap Index, while being retained in the market investable universe, to be re-evaluated for Standard Index inclusion at the next Index Review.

MSCI ACWI: The section was renumbered and retitled as the minimum foreign-room requirement, with the general existing-constituent free-float buffer and extreme-price-increase paragraphs removed from this section as part of the split. The foreign-room adjustment factor, quarterly review, 12-month upward-adjustment waiting period, and related monitoring rules remain substantively unchanged. (Editorial)

2026-10-02T00:00:00Z

The section was renumbered and retitled as the minimum foreign-room requirement, with the general existing-constituent free-float buffer and extreme-price-increase paragraphs removed from this section as part of the split. The foreign-room adjustment factor, quarterly review, 12-month upward-adjustment waiting period, and related monitoring rules remain substantively unchanged. Previous: Existing constituents may remain in the size-segment indexes if they would otherwise fail the additional investability requirements for Free Float Market Capitalization described in Section 2.3.6.1 but still meet 2/3rd of the threshold. Existing constituents of the Small Cap Index must have a FIF that is equal to or larger than 0.15 to remain in the index. Existing constituents of the Standard Index with FIF of less than 0.15 must meet 2/3rd of the 1.8 times of the minimum free float-adjusted market capitalization required for the Standard Index. Existing Standard Index constituents in the lower buffer that fail the additional investability requirements of the Standard Index are moved to the Small Cap Index. However, if the company has other investable securities that meet the additional investability requirements of the Standard Index, the company is retained in the Standard Size-Segment and the securities failing the final size-segment investability requirements are not included in any of the indexes within the MSCI Global Investable Market Indexes. Any other Standard Index constituent that fails these requirements is not included in any of the indexes within the MSCI Global Investable Market Indexes. Existing IMI constituents that exhibit extreme price increase (as per section 2.3.6.3) will not be eligible for migration into the Standard Indexes. Existing IMI constituents migrating into the Standard Index and exhibiting extreme price increase will be retained as Small Cap constituents. The post-review adjustment factor depends on the current adjustment factor and the actual level of foreign room of the securities, as shown in the table below: Post-review adjustment factor 0.25 0 If the foreign room of an existing constituent decreases below 3.75%, then the adjustment factor equals 0.25 In order to preserve index continuity, conformity with the minimum free float-adjusted market capitalization requirements for existing IMI Index constituents will be assessed using Updated: The post-review adjustment factor depends on the current adjustment factor and the actual level of foreign room of the securities, as shown in the table below: Post-review adjustment factor 0.25 0 If the foreign room of an existing constituent decreases below 3.75%, then the adjustment factor equals 0.25 In order to preserve index continuity, conformity with the minimum free float-adjusted market capitalization requirements for existing IMI™ Index constituents will be assessed using the free float-adjusted market capitalization before the application of the adjustment factor26. Foreign room level will be reviewed on a quarterly basis coinciding with the regular MSCI Index Reviews. Generally, an upward movement of the adjustment factor for existing constituents following a previous reduction in foreign room or index re-inclusion of a security deleted as a result of having a foreign room lower than 3.75% will only be considered 12 months from the effective date of the weight reduction or deletion. For example, to be considered for the May 2026 Index Review, the weight reduction or deletion should have been effective on or before the May 2025 Index Review); unless the upward movement of the adjustment factor is primarily 26 Please note that this treatment is also applicable in the cases when Liquidity Adjustment Factor is applied as described in the section 3.1.2.4 and 5.2.3.2 driven by a change in FOL and provided that the increase in FOL27 happened prior to the Price Cutoff Date of the previous Index Review described in Section 3.1.9.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: The updated text adds a provision stating that at “light” rebalancings, size-segment buffer zones are set at one half of and 1.8 times the Market Size-Segment Cutoff. The surrounding investability-requirements sentence is unchanged but split by the inserted footnote. (Major)

2026-10-02T00:00:00Z

The updated text adds a provision stating that at “light” rebalancings, size-segment buffer zones are set at one half of and 1.8 times the Market Size-Segment Cutoff. The surrounding investability-requirements sentence is unchanged but split by the inserted footnote. Previous: The securities of newly eligible companies and of companies migrating from the lower segment are required to meet the additional investability requirements as described in Sub-section 2.3.6: Applying Final Size-Segment Investability Requirements. Updated: The securities of newly eligible companies and of companies migrating from the lower segment are required to meet the additional investability 24 At “light” rebalancings, the buffer zones are set at one half of and 1.8 times the Market Size-Segment Cutoff between two size-segments. requirements as described in Sub-section 2.3.6: Applying Final Size-Segment Investability Requirements.

MSCI ACWI: The update removes the footnote specifying different buffer-zone boundaries at “light” rebalancings: one half of and 1.8 times the Market Size-Segment Cutoff. The remaining changes are terminology, trademark, hyphenation, and footnote-placement edits and do not alter the standard 2/3 and 1.5 times buffer boundaries. (Major)

2026-10-02T00:00:00Z

The update removes the footnote specifying different buffer-zone boundaries at “light” rebalancings: one half of and 1.8 times the Market Size-Segment Cutoff. The remaining changes are terminology, trademark, hyphenation, and footnote-placement edits and do not alter the standard 2/3 and 1.5 times buffer boundaries. Previous: Indexes In order to better reflect the investment processes of size managers, allow for timely representation of market developments when securities move far away from size-segment 23 Buffer zones for Size-Segments are explained in more detail in Section 3.1.5.1 thresholds, and help control index turnover, buffer zones are used to control the migration of companies between Size-Segment Indexes. The buffer zones at Index Reviews are defined with boundaries of 2/3rd of and 1.5 times the Market Size-Segment Cutoff between two size-segments24. In addition, a Small Cap Entry Buffer Zone is used for the entry in the Small Cap Indexes of noncurrent constituents of the IMI. It is defined with a boundary of 1.5 times the Market Size- Segment Cutoff for the Investable Market Index. Consequently, noncurrent constituents of the IMI within the Small Cap Entry Buffer Zone which are assigned to the Small Cap Segment are included in the Small Cap Indexes only to the extent that they replace current constituents which have fallen below the Small Cap Lower Buffer. The remaining companies are not included in the Investable Market Indexes but are still taken into account to determine the Segment Number of Companies. 24 At “light” rebalancings, the buffer zones are set at one half of and 1.8 times the Market Size-Segment Cutoff between two size-segments. Updated: Indexes In order to better reflect the investment processes of size managers, allow for timely representation of market developments when securities move far away from size-segment thresholds, and help control index turnover, buffer zones are used to control the migration of companies between Size-Segment Indexes. The buffer zones at Index Reviews 23 Buffer zones for Size-Segments are explained in more detail in Section 3.1.5.1 are defined with boundaries of 2/3rd of and 1.5 times the Market Size-Segment Cutoff between two size-segments24. In addition, a Small Cap Entry Buffer Zone is used for the entry in the Small Cap Indexes of noncurrent constituents of the IMI™. It is defined with a boundary of 1.5 times the Market Size- Segment Cutoff for the IMI. Consequently, non-current constituents of the IMI within the Small Cap Entry Buffer Zone which are assigned to the Small Cap Segment are included in the Small Cap Indexes only to the extent that they replace current constituents which have fallen below the Small Cap Lower Buffer. The remaining companies are not included in the IMI indexes but are still taken into account to determine the Segment Number of Companies.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Requirement or - Investable companies during last Index Review that were not assigned to any Size-Segment. Updated: - Requirement or Investable companies during last Index Review that were not assigned to any Size-Segment.

MSCI ACWI: The updated section adds footnote 20 defining the Interim Market Size-Segment Cutoff during an Index Review. It must use post-review Number of Shares and Foreign Inclusion factor, is not limited by the Global Minimum Size Range, and is floored at the Equity Universe Minimum Size Requirement. Other differences are formatting, line-break, diagram, and footnote-placement changes. (Minor)

2026-10-02T00:00:00Z

The updated section adds footnote 20 defining the Interim Market Size-Segment Cutoff during an Index Review. It must use post-review Number of Shares and Foreign Inclusion factor, is not limited by the Global Minimum Size Range, and is floored at the Equity Universe Minimum Size Requirement. Other differences are formatting, line-break, diagram, and footnote-placement changes. Previous: The full market capitalization of the company ranked in the updated Market Investable Equity Universe at the Initial Segment Number of Companies and the cumulative free float-adjusted market capitalization coverage at this company rank are used to verify that the Initial Segment Number of Companies falls either: within the Size and Coverage Target Area for the Size-Segment Index or within the Lower or Upper Size Range Boundary Proximity Areas, which span from 0.5 times to 0.575 times and from one time to 1.15 times the Global Minimum Size Reference respectively (please refer to the diagram below for more details). Changing Segment Number of Companies Full Market Capitalization Nb. of Companies 1.15x GMSR Upper Size Range Boundary Proximity Area GMSR 80% 85% 90% Cumulative Free Float-Adjusted Market Coverage removes at least half the free float-adjusted market capitalization that lies between the smallest company before the adjustment of the Initial Segment Number of Companies and the lower bound of the Global Minimum Size Range, no further adjustment is necessary. - If not, then a reduction of not more than 20% of the Initial Segment Number of Companies is made to remove at most half the free float-adjusted market capitalization that lies between the smallest company before adjusting the Initial Segment Number of Companies and the lower bound. - In market segments with a small number of companies, the deletion of the first two companies is not subject to - the limits described above. 22 When a limit is placed on the decrease in the number of companies, as explained above, the full market capitalization of the smallest company in the index will remain below the lower boundary of the Global Minimum Size Range. In this case, the Market Size-Segment Cutoff is set at this lower bound of 0.5 times the Global Minimum Size Reference instead of the size of the smallest company. Updated: The full market capitalization of the company ranked in the updated Market Investable Equity Universe at the Initial Segment Number of Companies and the cumulative free float-adjusted market capitalization coverage at this company rank are used to verify that the Initial Segment Number of Companies falls either: within the Size and Coverage Target Area for the Size-Segment Index or 20 The Interim Market Size-Segment Cutoff during an Index Review is calculated the same way as the Interim Market Size- Segment Cutoffs, which are reported daily, however the Number of Shares and Foreign Inclusion factor post Index Review are used in the calculations and the value is not limited by the Global Minimum Size Range. Furthermore, if the Interim Market Size-Segment Cutoff is lower than the Equity Universe Minimum Size Requirement, then the Interim Market Size-Segment Cutoff is set to the Equity Universe Minimum Size Requirement. within the Lower or Upper Size Range Boundary Proximity Areas, which span from 0.5 times to 0.575 times and from one time to 1.15 times the Global Minimum Size Reference respectively (please refer to the diagram below for more details). Changing Segment Number of Companies Full Market Capitalization Nb. of Companies 1.15x GMSR Upper Size Range Boundary Proximity Area GMSR 90% 80% 85% Cumulative Free Float-Adjusted Market Coverage removes at least half the free float-adjusted market capitalization that lies between the smallest company before the adjustment of the Initial Segment Number of Companies and the lower bound of the Global Minimum Size - Range, no further adjustment is necessary. If not, then a reduction of not more than 20% of the Initial Segment Number of Companies is made to remove at most half the free float-adjusted market capitalization that lies between the smallest company before adjusting the - Initial Segment Number of Companies and the lower bound. In market segments with a small number of companies, the deletion of the first two com

MSCI ACWI: The updated document deletes footnote 20, which defined how the Interim Market Size-Segment Cutoff is calculated during an Index Review. The removed text specified use of post-review Number of Shares and Foreign Inclusion factors, no limitation by the Global Minimum Size Range, and a floor at the Equity Universe Minimum Size Requirement. The main formula for the Initial Segment Number of Companies is otherwise unchanged. (Minor)

2026-10-02T00:00:00Z

The updated document deletes footnote 20, which defined how the Interim Market Size-Segment Cutoff is calculated during an Index Review. The removed text specified use of post-review Number of Shares and Foreign Inclusion factors, no limitation by the Global Minimum Size Range, and a floor at the Equity Universe Minimum Size Requirement. The main formula for the Initial Segment Number of Companies is otherwise unchanged. Previous: 20 The Interim Market Size-Segment Cutoff during an Index Review is calculated the same way as the Interim Market Size- Segment Cutoffs, which are reported daily, however the Number of Shares and Foreign Inclusion factor post Index Review are used in the calculations and the value is not limited by the Global Minimum Size Range. Furthermore, if the Interim Market Size-Segment Cutoff is lower than the Equity Universe Minimum Size Requirement, then the Interim Market Size-Segment Cutoff is set to the Equity Universe Minimum Size Requirement.

MSCI ACWI: The updated section replaces "Investable Market Indexes" with "IMI" and adds a trademark symbol to "GIMI™," while reflowing text and relocating a footnote. All liquidity thresholds, listing-priority rules, and the 0.5 Liquidity Adjustment Factor requirements remain unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated section replaces "Investable Market Indexes" with "IMI" and adds a trademark symbol to "GIMI™," while reflowing text and relocating a footnote. All liquidity thresholds, listing-priority rules, and the 0.5 Liquidity Adjustment Factor requirements remain unchanged. Previous: Non constituents of the Investable Market Indexes are evaluated relative to the thresholds described in section 2.2.5. An existing constituent of the Investable Market Indexes may remain in a Market Investable Equity Universe if its 12-month ATVR falls below the Minimum Liquidity Requirement as long as it is above 2/3rd of the minimum level requirement of 20% for Developed Markets and 15% for Emerging Markets, i.e., 13.3% and 10%, respectively. In addition, in order to remain in the Investable Market Indexes the existing constituent must have: The 3-month ATVR of at least 5%; However, MSCI would apply a Liquidity Adjustment Factor of 0.5 to the weight of the security, and in the subsequent Index Review, MSCI: Would delete the security from the index if the security does not meet all liquidity requirements for existing constituents calculated after applying the Liquidity Adjustment Factor or; Would maintain the security in the GIMI and remove the Liquidity Adjustment Factor if the security meets all the liquidity requirements for new constituents, calculated before applying the Liquidity Adjustment Factor for three consecutive Index Reviews or; Updated: Non constituents of the IMI™ indexes are evaluated relative to the thresholds described in section 2.2.5. An existing constituent of the IMI may remain in a Market Investable Equity Universe if its 12month ATVR falls below the Minimum Liquidity Requirement as long as it is above 2/3rd of the minimum level requirement of 20% for Developed Markets and 15% for Emerging Markets, i.e., 13.3% and 10%, respectively. In addition, in order to remain in the IMI the existing constituent must have: The 3-month ATVR of at least 5%; However, MSCI would apply a Liquidity Adjustment Factor of 0.5 to the weight of the security, and in the subsequent Index Review, MSCI: Would delete the security from the index if the security does not meet all liquidity requirements for existing constituents calculated after applying the Liquidity Adjustment Factor or; Would maintain the security in the GIMI™ and remove the Liquidity Adjustment Factor if the security meets all the liquidity requirements for new constituents, calculated before applying the Liquidity Adjustment Factor for three consecutive Index Reviews or;

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: The outline replaces the full name "MSCI Global Investable Market Indexes" with the trademarked abbreviation "MSCI GIMI™" in Section 1. It also changes the stated last-update date from February 2026 to August 2026 and removes the November 2025 document footer. No index construction, maintenance, eligibility, weighting, or calculation rule is changed. (Editorial)

2026-10-02T00:00:00Z

The outline replaces the full name "MSCI Global Investable Market Indexes" with the trademarked abbreviation "MSCI GIMI™" in Section 1. It also changes the stated last-update date from February 2026 to August 2026 and removes the November 2025 document footer. No index construction, maintenance, eligibility, weighting, or calculation rule is changed. Previous: Section 1 provides an introduction and background to the MSCI Global Investable Market Indexes including the objectives and design of the indexes. This book was last updated in February 2026. MSCI Global Investable Market Indexes Methodology | November 2025 Updated: Section 1 provides an introduction and background to the MSCI GIMI™ including the objectives and design of the indexes. This book was last updated in August 2026.

MSCI ACWI: The section title was abbreviated from “MSCI Global Investable Markets Indexes” to “MSCI GIMI™ Indexes,” and the residual text “Markets Indexes” was removed. No index construction, selection, weighting, calculation, or other substantive rule was changed. (Editorial)

2026-10-02T00:00:00Z

The section title was abbreviated from “MSCI Global Investable Markets Indexes” to “MSCI GIMI™ Indexes,” and the residual text “Markets Indexes” was removed. No index construction, selection, weighting, calculation, or other substantive rule was changed. Previous: Markets Indexes

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: The updated EPI rule introduces a Foreign Inclusion Factor exemption: securities with a FIF of at least 0.75 are not subject to EPI screens. It also specifies that non-IMI constituents exhibiting EPI with a FIF below 0.75 are ineligible for Standard Index addition but remain in the market investable universe. The EPI monitoring periods and return thresholds are unchanged. (Minor)

2026-10-02T00:00:00Z

The updated EPI rule introduces a Foreign Inclusion Factor exemption: securities with a FIF of at least 0.75 are not subject to EPI screens. It also specifies that non-IMI constituents exhibiting EPI with a FIF below 0.75 are ineligible for Standard Index addition but remain in the market investable universe. The EPI monitoring periods and return thresholds are unchanged. Previous: Securities that exhibit extreme price increase will not be eligible for addition into the Standard Indexes but will continue to be considered as part of the market investable universe. Such securities would be re-evaluated for Standard Index inclusion in the subsequent Index Review using Standard Index inclusion criteria, including the return-based thresholds for extreme price increase as described below. For additions to the Standard indexes, MSCI will evaluate their excess returns for specific monitoring periods against relevant thresholds as per the below table. A security that breaches the threshold of any period is considered to exhibit extreme price increase. Monitoring Periods and Thresholds for Extreme Price Increase Period* 5D 10D 15D 20D 25D 30D 35D 40D 45D 50D 55D 60D Excess Returns 100% 100% 100% 100% 200% 200% 200% 200% 400% 400% 400% 400% Threshold Period* 90D 120D 150D 180D 250D Excess Returns 500% 800% 1500% 1500% 2500% Threshold * Number of days (Mon-Fri) prior to the price cutoff date of the Index Review ** The extended measurement period of 90D, 120D, 150D, 180D and 250D is effective from May 2024 Index Review Excess return is calculated as the difference between the return of a security for the relevant period and the average return of IMI constituents belonging to the same country-sector where the security is classified (in terms of country of classification and GICS classification at the sector level). Updated: For additions to the Standard indexes, MSCI will evaluate the excess returns over specific monitoring periods against the relevant thresholds set out in the table below. A security that breaches the threshold of any period is considered to exhibit extreme price increase (EPI). Excess return is calculated as the difference between the return of a security for the relevant period and the average return of IMI™ constituents belonging to the same country-sector where the security is classified (in terms of country of classification and GICS classification at the sector level). Monitoring Periods and Thresholds for Extreme Price Increase: Period* 5D 10D 15D 20D 25D 30D 35D 40D 45D 50D 55D 60D Excess Returns 100% 100% 100% 100% 200% 200% 200% 200% 400% 400% 400% 400% Threshold Period* 90D 120D 150D 180D 250D Excess 500% 800% 1500% 1500% 2500% Returns Threshold * Number of days (Mon-Fri) prior to the price cutoff date of the Index Review ** The extended measurement period of 90D, 120D, 150D, 180D and 250D is effective from May 2024 Index Review Securities with a Foreign Inclusion Factor (FIF) of at least 0.75 are not subject to EPI screens. Non-constituents of the IMI that exhibit EPI with a FIF below 0.75 and meet all other Standard Index inclusion requirements will not be added to the Standard Index and will be retained in the market investable universe. In all cases where a security is not added to the Standard Index due to EPI, it will be reevaluated for Standard Index inclusion at the subsequent Index Review using Standard Index inclusion criteria, including the return-based thresholds for Extreme Price Increase as described above.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: The updated document adds a “Notice and disclaimer” section covering MSCI’s intellectual-property rights, permitted use restrictions, AI-use limitations, warranties, liability disclaimers, investment-advice disclaimers, performance caveats, conflicts, and governing law. It does not add or alter any index construction, eligibility, selection, weighting, review, or calculation rule. (Editorial)

2026-10-02T00:00:00Z

The updated document adds a “Notice and disclaimer” section covering MSCI’s intellectual-property rights, permitted use restrictions, AI-use limitations, warranties, liability disclaimers, investment-advice disclaimers, performance caveats, conflicts, and governing law. It does not add or alter any index construction, eligibility, selection, weighting, review, or calculation rule. Updated: The data, data feeds, databases, reports, text, graphs, charts, images, videos, recordings, models, metrics, analytics, indexes, ratings, scores, cases, estimates, assessments, software, websites, products, services and other information and materials contained herein or delivered in connection with this notice (collectively, the “Information”) are copyrighted, trade secrets (when not publicly available), trademarks and proprietary property of MSCI Inc. or its subsidiaries (collectively, “MSCI”), MSCI’s licensors, direct or indirect suppliers and authorized sources, and/or any third party contributing to the Information (collectively, with MSCI, the “Information Providers”). All rights in the Information are reserved by MSCI and its Information Providers and user(s) shall not, nor assist others to, challenge or assert any rights in the Information. Unless you contact MSCI and receive its prior written permission, you must NOT use the Information, directly or indirectly, in whole or in part (i) for commercial purposes, (ii) in a manner that competes with MSCI or impacts its ability to commercialize the Information or its services, (iii) to provide a service to a third party, (iv) to permit a third party to directly or indirectly access, use or resell the Information, (v) to redistribute or resell the Information in any form, (vi) to include the Information in any materials for public dissemination such as fund factsheets, market presentations, prospectuses, and investor information documents (e.g. KIIDs or KIDs), (vii) to create or as a component of any financial products, whether listed or traded over the counter or on a private placement basis or otherwise, (viii) to create any indexes, ratings or other data products, including in derivatives combined with other indexes or data or as a policy, product or performance benchmarks for active, passive or other financial products, (ix) to populate a database, or (x) to train, use as an input to, or otherwise in connectio

MSCI ACWI: A new "Contact us" section was added, providing MSCI company information, regional telephone contact numbers, the MSCI website and contact page, and a link to the formal index-complaint process. No index methodology rule, eligibility criterion, calculation, or review process was changed. (Editorial)

2026-10-02T00:00:00Z

A new "Contact us" section was added, providing MSCI company information, regional telephone contact numbers, the MSCI website and contact page, and a link to the formal index-complaint process. No index methodology rule, eligibility criterion, calculation, or review process was changed. Updated: About MSCI Inc. AMERICA MSCI (NYSE: MSCI Inc.) strengthens global United States + 1 888 588 4567 * markets by connecting participants across the Canada + 1 416 687 6270 financial ecosystem with a common language. Brazil + 55 11 4040 7830 Our research-based data, analytics and indexes, Mexico + 52 81 1253 4020 supported by advanced technology, set standards for global investors and help our clients understand risks and opportunities so they can EUROPE, MIDDLE EAST & AFRICA make better decisions and unlock innovation. We serve asset managers and owners, private- South Africa + 27 21 673 0103 market sponsors and investors, hedge funds, Germany + 49 69 133 859 00 wealth managers, banks, insurers and corporates. Switzerland + 41 22 817 9777 To learn more, please visit www.msci.com United Kingdom + 44 20 7618 2222 msci.com/contact-us Italy + 39 02 5849 0415 The process for submitting a formal index France + 33 17 6769 810 complaint can be found on the index regulation page of MSCI’s website at: ASIA PACIFIC https://www.msci.com/index-regulation. China + 86 21 61326611 Hong Kong + 852 2844 9333 India + 91 22 6784 9160 Malaysia 1800818185 * South Korea + 82 70 4769 4231 Singapore + 65 67011177 Australia + 612 9033 9333 Taiwan 008 0112 7513 * Thailand 0018 0015 6207 7181 * Japan + 81 3 4579 0333 * toll-free

MSCI ACWI: The updated change history adds 2026 methodology entries covering FIF implementation, free-float rounding and depository-receipt treatment, a new MSCI Southbound Index section, market-eligibility table updates, Extreme Price Increase exemptions, corporate-event-related review reversals, ineligible-alert-board monitoring, light-rebalancing treatment, and China index maintenance. The update also replaces fuller index names with IMI™/GIMI™ and adds formatting line breaks, which are non-substantive branding/format changes. (Major)

2026-10-02T00:00:00Z

The updated change history adds 2026 methodology entries covering FIF implementation, free-float rounding and depository-receipt treatment, a new MSCI Southbound Index section, market-eligibility table updates, Extreme Price Increase exemptions, corporate-event-related review reversals, ineligible-alert-board monitoring, light-rebalancing treatment, and China index maintenance. The update also replaces fuller index names with IMI™/GIMI™ and adds formatting line breaks, which are non-substantive branding/format changes. Previous: 3.2.2 Quarterly Index Review of Addition of Companies Currently not Constituents of the Investable Market Indexes Updates in this section 3.1.4.1 Determining Initial Segment Number of Companies Clarification on counting the Initial Segment Number of Companies for the IMI Appendix XVI: Enhancements to the Coverage of the MSCI Global Investable Market Indexes New section The following sections have been modified since February 2015: Appendix XVI: Enhancements to the Coverage of the MSCI Global Investable Market Indexes Appendix XVI: Enhancements to the Coverage of the MSCI Global Investable Market Indexes Updated the table “Eligible Markets (Emerging Markets)” Appendix XVI: Enhancements to the Coverage of the MSCI Global Investable Market Indexes Updated the section on China under the revised Appendix III: Country Classification of Securities Section 3.2.3: Quarterly Index Review of Deletion of Companies Currently Constituents of the Investable Market Indexes Updates in this section on priority rules for selection of listings Appendix III: Country Classification of Securities Updated the sections “General Framework” and “Other Cases” Updated the treatment of China under the section “Country Specific Cases” Added the treatment of Greece under the section “Country Specific Cases” Deleted the sections “Review and Maintenance” and “Country of Coverage of Companies Not Eligible for Inclusion in the MSCI Global Investable Market Indexes” Appendix XVI: Enhancements to the Coverage of the MSCI Global Investable Market Indexes Appendix deleted The following sections have been modified since February 2016: Appendix VIII: Policy Regarding Trading Suspensions and Market Closures during Index Review Added clarification for “Index Review changes” The following section has been modified since June 2016: Section 3.2.3: Quarterly Index Review of Deletion of Companies Currently Constituents of the Investable Market Indexes Added footnote on priority rule for local listings The followi Updated: 3.2.2 Quarterly Index Review of Addition of Companies Currently not Constituents of the IMI™ Updates in this section 3.1.4.1 Determining Initial Segment Number of Companies Clarification on counting the Initial Segment Number of Companies for the IMI™ Appendix XVI: Enhancements to the Coverage of the MSCI GIMI™ New section The following sections have been modified since February 2015: Appendix XVI: Enhancements to the Coverage of the MSCI GIMI™ Appendix XVI: Enhancements to the Coverage of the MSCI GIMI™ Updated the table “Eligible Markets (Emerging Markets)” Appendix XVI: Enhancements to the Coverage of the MSCI GIMI™ Updated the section on China under the revised Appendix III: Country Classification of Securities Section 3.2.3: Quarterly Index Review of Deletion of Companies Currently Constituents of the IMI™ Updates in this section on priority rules for selection of listings Appendix III: Country Classification of Securities Updated the sections “General Framework” and “Other Cases” Updated the treatment of China under the section “Country Specific Cases” Added the treatment of Greece under the section “Country Specific Cases” Deleted the sections “Review and Maintenance” and “Country of Coverage of Companies Not Eligible for Inclusion in the MSCI GIMI™” Appendix XVI: Enhancements to the Coverage of the MSCI GIMI™ Appendix deleted The following sections have been modified since February 2016: Appendix VIII: Policy Regarding Trading Suspensions and Market Closures during Index Review Added clarification for “Index Review changes” The following section has been modified since June 2016: Section 3.2.3: Quarterly Index Review of Deletion of Companies Currently Constituents of the IMI™ Added footnote on priority rule for local listings The following sections have been modified since November 2016: Appendix VIII: Policy Regarding Trading Suspensions and Market Closures during Index Review Updates in this section The following sections have been modified since April 20

MSCI ACWI: The appendix was renumbered from XX to XXI, the opening label was changed from "Methodology" to "Indexes Methodology," and "MSCI Global Investable Market Indexes Methodology" was abbreviated to "MSCI GIMI™ Methodology." The document footer was also removed. No index rule, threshold, date, or constituent treatment was changed. (Editorial)

2026-10-02T00:00:00Z

The appendix was renumbered from XX to XXI, the opening label was changed from "Methodology" to "Indexes Methodology," and "MSCI Global Investable Market Indexes Methodology" was abbreviated to "MSCI GIMI™ Methodology." The document footer was also removed. No index rule, threshold, date, or constituent treatment was changed. Previous: Methodology In August 2022, a consultation was launched with proposals to enhance the MSCI Frontier Markets Indexes Methodology with the aim of addressing the following: A limited number of eligible securities and much smaller investment opportunity set caused by higher size cutoffs linked to Developed Markets (DM) Significantly higher country concentration, as a few heavily-weighted markets at the top of the index exist along with a longer list of smaller markets at the bottom Frequent changes in index composition, often driven by market reclassifications Following feedback from market participants, the changes below were implemented at the August 2023 Index Review: Independent size cutoffs for Frontier Markets are no longer linked to Developed Markets, For each individual Frontier Market, a reduction in the minimum number of companies meeting Standard Index requirements for Size and Liquidity from two companies to one, and Regional consolidation of individual markets for the purpose of index construction and maintenance where appropriate, starting with the Baltic States, i.e., Estonia, Lithuania and Latvia: MSCI considers Estonia, Lithuania and Latvia as a single market for the purpose of o index construction and maintenance under the MSCI Global Investable Market Indexes Methodology to derive the constituents of the MSCI Baltic States Indexes. MSCI Global Investable Market Indexes Methodology | November 2025 Updated: Indexes Methodology In August 2022, a consultation was launched with proposals to enhance the MSCI Frontier Markets Indexes Methodology with the aim of addressing the following: A limited number of eligible securities and much smaller investment opportunity set caused by higher size cutoffs linked to Developed Markets (DM) Significantly higher country concentration, as a few heavily-weighted markets at the top of the index exist along with a longer list of smaller markets at the bottom Frequent changes in index composition, often driven by market reclassifications Following feedback from market participants, the changes below were implemented at the August 2023 Index Review: Independent size cutoffs for Frontier Markets are no longer linked to Developed Markets, For each individual Frontier Market, a reduction in the minimum number of companies meeting Standard Index requirements for Size and Liquidity from two companies to one, and Regional consolidation of individual markets for the purpose of index construction and maintenance where appropriate, starting with the Baltic States, i.e., Estonia, Lithuania and Latvia: MSCI considers Estonia, Lithuania and Latvia as a single market for the purpose of o index construction and maintenance under the MSCI GIMI™ Methodology to derive the constituents of the MSCI Baltic States Indexes.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: The appendix was renumbered from XIX to XX, the heading was shortened from "Index Review" to "Review," and "MSCI Global Investable Market Indexes" was replaced by the trademarked abbreviation "MSCI GIMI™." The substantive historical description of the transition to Quarterly Comprehensive Index Reviews is unchanged. (Editorial)

2026-10-02T00:00:00Z

The appendix was renumbered from XIX to XX, the heading was shortened from "Index Review" to "Review," and "MSCI Global Investable Market Indexes" was replaced by the trademarked abbreviation "MSCI GIMI™." The substantive historical description of the transition to Quarterly Comprehensive Index Reviews is unchanged. Previous: Index Review Prior to the February 2023 Index Review, the MSCI Global Investable Market Indexes were reviewed on a quarterly basis which involved: - Semi-Annual Index Reviews (SAIRs) in May and November and - Quarterly Index Reviews (QIRs) in February and August Updated: Review Prior to the February 2023 Index Review, the MSCI GIMI™ were reviewed on a quarterly basis which involved: - Semi-Annual Index Reviews (SAIRs) in May and November and - Quarterly Index Reviews (QIRs) in February and August

MSCI ACWI: The updated transition timeline abbreviates "Global Investable Market Indexes" to "GIMI™" and "Investable Market Indexes" to "IMI™," with trademark symbols added. Some table text is also reflowed onto separate lines. No transition dates, actions, eligibility criteria, or methodology requirements are changed. (Editorial)

2026-10-02T00:00:00Z

The updated transition timeline abbreviates "Global Investable Market Indexes" to "GIMI™" and "Investable Market Indexes" to "IMI™," with trademark symbols added. Some table text is also reflowed onto separate lines. No transition dates, actions, eligibility criteria, or methodology requirements are changed. Previous: Date Provisional/New Standard & Small Cap March 28, Final MSCI Global Investable No impact. 2007 Market Indexes methodology was announced. May Annual Initial construction based on data Regular Annual Index Review of the Index Review used in Standard and Small Cap Current Standard Index., taking into Index Review, including account new minimum size requirements. population of the buffers. Provisional Small Cap Indexes, under the Global Investable Market Indexes methodology for each of the MSCI Provisional Standard and Provisional Small Cap Indexes, was made available. New Large Cap, Mid Cap, and Investable Market Indexes also published. May 30, 2008 Fully transitioned Standard and Small Cap Indexes implemented. After June 1, Provisional Indexes discontinued. All MSCI global equity indexes operate 2008 under Global Investable Market Indexes methodology. Updated: Date Provisional/New Standard & Small Cap March 28, Final MSCI GIMI™ methodology No impact. 2007 was announced. May Annual Initial construction based on data Regular Annual Index Review of the Index Review used in Standard and Small Cap Current Standard Index., taking into Index Review, including account new minimum size requirements. population of the buffers. Provisional Small Cap Indexes, under the GIMI™ methodology for each of the MSCI Provisional Standard and Provisional Small Cap Indexes, was made available. New Large Cap, Mid Cap, and IMI™ Indexes also published. May 30, 2008 Fully transitioned Standard and Small Cap Indexes implemented. After June 1, Provisional Indexes discontinued. All MSCI global equity indexes operate 2008 under GIMI™ methodology.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: The methodology refreshes the Global Minimum Size Reference values from the January 16, 2026/February 2026 cycle to the July 20, 2026/August 2026 cycle. For DM Standard Indexes, the 85% coverage threshold rises from USD 15.20 billion to USD 16.28 billion, changing the DM range from USD 7.60–17.48 billion to USD 8.14–18.72 billion and the EM range from USD 3.80–8.74 billion to USD 4.07–9.36 billion. The coverage percentages, EM one-half rule, and 0.5–1.15 range multiplier remain unchanged; “DM Investable Market Index” is restyled as “DM IMI™.” (Minor)

2026-10-02T00:00:00Z

The methodology refreshes the Global Minimum Size Reference values from the January 16, 2026/February 2026 cycle to the July 20, 2026/August 2026 cycle. For DM Standard Indexes, the 85% coverage threshold rises from USD 15.20 billion to USD 16.28 billion, changing the DM range from USD 7.60–17.48 billion to USD 8.14–18.72 billion and the EM range from USD 3.80–8.74 billion to USD 4.07–9.36 billion. The coverage percentages, EM one-half rule, and 0.5–1.15 range multiplier remain unchanged; “DM Investable Market Index” is restyled as “DM IMI™.” Previous: Then, the respective full market capitalizations of the companies that provide the following cumulative free float-adjusted market capitalization coverage of the DM Investable Equity Universe are chosen: - DM Large Cap Index: 70% coverage - DM Standard Index: 85% coverage - DM Investable Market Index: 99% coverage The Global Minimum Size References for the Large Cap, Standard, and Investable Market segments, based on January 16, 2026 data, are set forth below. The full market capitalization of the company that provides at least an 85% cumulative free float-adjusted coverage of the DM Investable Equity Universe is USD 15.20 billion. 0.5 times to 1.15 times to this Global Minimum Size Reference gives the Global Minimum Size Range of USD 7.60 billion to USD 17.48billion for the DM Standard Indexes. The EM range for the Standard Indexes, therefore, is USD 3.80 billion to USD 8.74 billion. Global Minimum Size Reference Percent of Free Float Investable Equity Developed Markets Emerging Markets Frontier Markets Adjusted Market Universe Global Minimum Size Global Minimum Size Global Minimum Size Coverage Reference Reference (50% of DM) Reference Feb-26 Feb-26 Feb-26 Universe Large Cap 70% 49,097 24,548 1,181 Mid Cap 85% 15,198 7,599 452 Small Cap 99% 1,158 579 32 All market caps are in USD millions. Data as of the close of January 16, 2026 The Developed Markets and Frontier Markets Global Minimum Size References are calculated based on the Developed Markets and Frontier Markets Investable Equity Universes, respectively. Updated: Then, the respective full market capitalizations of the companies that provide the following cumulative free float-adjusted market capitalization coverage of the DM Investable Equity Universe are chosen: - DM Large Cap Index: 70% coverage - DM Standard Index: 85% coverage - DM IMI™: 99% coverage The Global Minimum Size References for the Large Cap, Standard, and Investable Market segments, based on July 20, 2026 data, are set forth below. The full market capitalization of the company that provides at least an 85% cumulative free float-adjusted coverage of the DM Investable Equity Universe is USD 16.28 billion. 0.5 times to 1.15 times to this Global Minimum Size Reference gives the Global Minimum Size Range of USD 8.14 billion to USD 18.72 billion for the DM Standard Indexes. The EM range for the Standard Indexes, therefore, is USD 4.07 billion to USD 9.36 billion. Global Minimum Size Reference Percent of Free Float Investable Equity Developed Markets Emerging Markets Frontier Markets Adjusted Market Universe Global Minimum Global Minimum Size Global Minimum Coverage Size Reference Reference (50% of DM) Size Reference Aug-26 Aug-26 Aug-26 Universe Large Cap 70% 53,878 26,939 1,283 Mid Cap 85% 16,276 8,138 473 Small Cap 99% 1,234 617 31 All market caps are in USD millions. Data as of the close of July 20, 2026 The Developed Markets and Frontier Markets Global Minimum Size References are calculated based on the Developed Markets and Frontier Markets Investable Equity Universes, respectively.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: However, with a view to reducing transition turnover and ongoing turnover, the following additional rules were used at initial construction: The Standard Indexes targeted market coverage and size integrity as described in Sub- The buffer zones used in maintaining the MSCI Global Investable Market Indexes at Semi- Annual Index Reviews were fully populated at initial construction with companies from the current Standard and Small Cap Indexes, in order to minimize turnover during the transition. Updated: However, with a view to reducing transition turnover and ongoing turnover, the following additional rules were used at initial construction: The Standard Indexes targeted market coverage and size integrity as described in Sub- The buffer zones used in maintaining the MSCI GIMI™ at Semi-Annual Index Reviews were fully populated at initial construction with companies from the current Standard and Small Cap Indexes, in order to minimize turnover during the transition.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: The Global Minimum Size Range for each size-segment is determined by defining a Global Minimum Size Reference for Large Cap, Standard, and Investable Market Indexes, and specifying a range of 0.5 times to 1.15 times those References. Updated: The Global Minimum Size Range for each size-segment is determined by defining a Global Minimum Size Reference for Large Cap, Standard, and IMI™ Indexes, and specifying a range of 0.5 times to 1.15 times those References.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: A new "Ongoing Event Related Changes" section sets out ad-hoc maintenance rules for MSCI Southbound Indexes. Additions are prohibited between Index Reviews, deletions from MSCI China and MSCI Hong Kong Indexes are reflected simultaneously, and Stock Connect eligibility is reviewed daily. Constituents losing eligibility for both buying and selling are removed after two days' notice, excluding market holidays, with a special rule when the implementation date coincides with a holiday. (Major)

2026-10-02T00:00:00Z

A new "Ongoing Event Related Changes" section sets out ad-hoc maintenance rules for MSCI Southbound Indexes. Additions are prohibited between Index Reviews, deletions from MSCI China and MSCI Hong Kong Indexes are reflected simultaneously, and Stock Connect eligibility is reviewed daily. Constituents losing eligibility for both buying and selling are removed after two days' notice, excluding market holidays, with a special rule when the implementation date coincides with a holiday. Updated: As the Stock Connect Program eligibility information may not be available at the time of listing of a new security, the MSCI Southbound Indexes do not allow additions between two Index Reviews. Deletions from the MSCI China and MSCI Hong Kong Indexes are also deleted simultaneously from the MSCI Southbound Indexes. Additionally, Stock Connect Program eligibility is also reviewed daily for existing index constituents. Existing index constituents that are no longer eligible for both buying and selling on the Southbound Trading of the Stock Connect Program are deleted from the MSCI Southbound Indexes by giving two days’ notice, excluding market holidays. Where the implementation date coincides with a market holiday, the deletion effective date is deferred until it is not immediately preceded by a market holiday. More details relating to the handling of specific corporate event types can be found in the MSCI Corporate Events Methodology book available at: https://www.msci.com/index methodology.

MSCI ACWI: A new Index Maintenance rule states that MSCI Southbound Indexes are updated at each Index Review to include eligible constituents from the MSCI China Indexes, MSCI Hong Kong Indexes, and the Hong Kong listing of HSBC that can be both bought and sold through Stock Connect Southbound Trading. The eligibility determination is made nine business days before the Index Review effective date. (Major)

2026-10-02T00:00:00Z

A new Index Maintenance rule states that MSCI Southbound Indexes are updated at each Index Review to include eligible constituents from the MSCI China Indexes, MSCI Hong Kong Indexes, and the Hong Kong listing of HSBC that can be both bought and sold through Stock Connect Southbound Trading. The eligibility determination is made nine business days before the Index Review effective date. Updated: The constituents of the MSCI Southbound Indexes are updated at each Index Review to include constituents of the MSCI China Indexes, the MSCI Hong Kong Indexes and the Hong Kong listing of HSBC that are available for both buying and selling through the Southbound Trading of the Stock Connect Program. This determination is made nine business days before the Index Review effective date.

MSCI ACWI: A new index construction rule states that the MSCI Southbound Indexes select all constituents from the MSCI China Indexes, MSCI Hong Kong Indexes, and the Hong Kong listing of HSBC, provided they are available for both buying and selling through Stock Connect Southbound Trading. This introduces a selection and eligibility condition for index membership. (Minor)

2026-10-02T00:00:00Z

A new index construction rule states that the MSCI Southbound Indexes select all constituents from the MSCI China Indexes, MSCI Hong Kong Indexes, and the Hong Kong listing of HSBC, provided they are available for both buying and selling through Stock Connect Southbound Trading. This introduces a selection and eligibility condition for index membership. Updated: The MSCI Southbound Indexes select all constituents from the MSCI China Indexes, the MSCI Hong Kong Indexes and the Hong Kong listing of HSBC that are available for both buying and selling through the Southbound Trading of the Stock Connect Program.

MSCI ACWI: The updated document adds Appendix XVIII, which introduces the MSCI Southbound Indexes and states that they aim to measure the performance of securities available through Southbound Trading under the Stock Connect Program. (Minor)

2026-10-02T00:00:00Z

The updated document adds Appendix XVIII, which introduces the MSCI Southbound Indexes and states that they aim to measure the performance of securities available through Southbound Trading under the Stock Connect Program. Updated: The MSCI Southbound Indexes aim to measure the performance of the securities available via the Southbound Trading of the Stock Connect Program.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: The ongoing event-related changes to the MSCI China Indexes primarily follow the MSCI GIMI Methodology and the MSCI Corporate Events Methodology. 66 The MSCI China A Onshore Indexes were previously known as the MSCI China A Indexes prior to March 1, 2018. Please refer to Appendixes XII and XIV of the MSCI GIMI Methodology for more details on the MSCI China A Onshore Indexes. Updated: The ongoing event-related changes to the MSCI China Indexes primarily follow the MSCI GIMI™ Methodology and the MSCI Corporate Events Methodology. 67 The MSCI China A Onshore Indexes were previously known as the MSCI China A Indexes prior to March 1, 2018. Please refer to Appendixes XII and XIV of the MSCI GIMI™ Methodology for more details on the MSCI China A Onshore Indexes.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: The MSCI China A Indexes66 and the MSCI China A RMB Indexes are designed to represent the performance of the China A shares portion of the MSCI China Index. Updated: The MSCI China A Indexes67 and the MSCI China A RMB Indexes are designed to represent the performance of the China A shares portion of the MSCI China Index.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: The ongoing event-related changes to the MSCI China Indexes primarily follow the MSCI GIMI Methodology and the MSCI Corporate Events Methodology. For example, if a China A share constituent of the MSCI China All Shares IMI is migrating from Small Cap to Large Cap or Mid Cap due to a corporate event, the China A share security will not be added to the MSCI China Index at the time of the implementation of the corporate event and will be considered for inclusion in the following Index Review for MSCI China Index. Updated: The ongoing event-related changes to the MSCI China Indexes primarily follow the MSCI GIMI™ Methodology and the MSCI Corporate Events Methodology. For example, if a China A share constituent of the MSCI China All Shares IMI™ is migrating from Small Cap to Large Cap or Mid Cap due to a corporate event, the China A share security will not be added to the MSCI China Index at the time of the implementation of the corporate event and will be considered for inclusion in the following Index Review for MSCI China Index.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: The updated extraction no longer contains the front-matter title block for the MSCI Global Investable Market Indexes Methodology. No index construction, eligibility, weighting, review, or calculation rule is added, removed, or modified. (Editorial)

2026-10-02T00:00:00Z

The updated extraction no longer contains the front-matter title block for the MSCI Global Investable Market Indexes Methodology. No index construction, eligibility, weighting, review, or calculation rule is added, removed, or modified. Previous: Index Methodology MSCI Global Investable Market Indexes Methodology Index Construction Objectives, Guiding Principles and Methodology for the MSCI Global Investable Market Indexes MSCI Global Investable Market Indexes Methodology | November 2025

MSCI ACWI: The methodology for deriving the Global Minimum Size Reference is unchanged, but the referenced market-capitalization levels and ranges are refreshed from October 15, 2025/November 2025 data to January 16, 2026/February 2026 data. The DM Standard reference increases from USD 14.31 billion to USD 15.20 billion, with corresponding changes to the DM and EM Standard ranges and the tabulated size-segment references. (Minor)

2026-10-02T00:00:00Z

The methodology for deriving the Global Minimum Size Reference is unchanged, but the referenced market-capitalization levels and ranges are refreshed from October 15, 2025/November 2025 data to January 16, 2026/February 2026 data. The DM Standard reference increases from USD 14.31 billion to USD 15.20 billion, with corresponding changes to the DM and EM Standard ranges and the tabulated size-segment references. Previous: Then, the respective full market capitalizations of the companies that provide the following cumulative free float-adjusted market capitalization coverage of the DM Investable Equity Universe are chosen: - DM Large Cap Index: 70% coverage - DM Standard Index: 85% coverage DM Investable Market Index: 99% coverage - For Emerging Markets, the Global Minimum Size Reference is set at one-half the corresponding level of full market capitalization used for the Developed Markets for each size-segment. The Global Minimum Size References for the Large Cap, Standard, and Investable Market segments, based on October 15, 2025 data, are set forth below. The full market capitalization of the company that provides at least an 85% cumulative free float-adjusted coverage of the DM Investable Equity Universe is USD 14.31 billion. 0.5 times to 1.15 times to this Global Minimum Size Reference gives the Global Minimum Size Range of USD 7.15 billion to USD 16.45 billion for the DM Standard Indexes. The EM range for the Standard Indexes, therefore, is USD 3.58 billion to USD 8.23 billion. Global Minimum Size Reference Percent of Free Float Investable Equity Developed Markets Emerging Markets Frontier Markets Adjusted Market Universe Global Minimum Global Minimum Size Global Minimum Coverage Size Reference Reference (50% of DM) Size Reference Nov-25 Nov-25 Nov-25 Universe Large Cap 70% 47,101 23,550 1,047 Mid Cap 85% 14,306 7,153 409 Small Cap 99% 1,112 556 29 All market caps are in USD millions. Data as of the close of October 15, 2025 The Developed Markets and Frontier Markets Global Minimum Size References are calculated based on the Developed Markets and Frontier Markets Investable Equity Universes, respectively. Updated: Then, the respective full market capitalizations of the companies that provide the following cumulative free float-adjusted market capitalization coverage of the DM Investable Equity Universe are chosen: - DM Large Cap Index: 70% coverage - DM Standard Index: 85% coverage - DM Investable Market Index: 99% coverage For Emerging Markets, the Global Minimum Size Reference is set at one-half the corresponding level of full market capitalization used for the Developed Markets for each size-segment. The Global Minimum Size References for the Large Cap, Standard, and Investable Market segments, based on January 16, 2026 data, are set forth below. The full market capitalization of the company that provides at least an 85% cumulative free float-adjusted coverage of the DM Investable Equity Universe is USD 15.20 billion. 0.5 times to 1.15 times to this Global Minimum Size Reference gives the Global Minimum Size Range of USD 7.60 billion to USD 17.48billion for the DM Standard Indexes. The EM range for the Standard Indexes, therefore, is USD 3.80 billion to USD 8.74 billion. Global Minimum Size Reference Percent of Free Float Investable Equity Developed Markets Emerging Markets Frontier Markets Adjusted Market Universe Global Minimum Size Global Minimum Size Global Minimum Size Coverage Reference Reference (50% of DM) Reference Feb-26 Feb-26 Feb-26 Universe Large Cap 70% 49,097 24,548 1,181 Mid Cap 85% 15,198 7,599 452 Small Cap 99% 1,158 579 32 All market caps are in USD millions. Data as of the close of January 16, 2026 The Developed Markets and Frontier Markets Global Minimum Size References are calculated based on the Developed Markets and Frontier Markets Investable Equity Universes, respectively.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: The data, data feeds, databases, reports, text, graphs, charts, images, videos, recordings, models, metrics, analytics, indexes, ratings, scores, cases, estimates, assessments, software, websites, products, services and other information and materials contained herein or delivered in connection with this notice (collectively, the “Information”) are copyrighted, trade secrets (when not publicly available), trademarks and proprietary property of MSCI Inc. or its subsidiaries (collectively, “MSCI”), MSCI’s licensors, direct or indirect suppliers and authorized sources, and/or any third party contributing to the Information (collectively, with MSCI, the “Information Providers”). All rights in the Information are reserved by MSCI and its Information Providers and user(s) shall not, nor assist others to, challenge or assert any rights in the Information. Unless you contact MSCI and receive its prior written permission, you must NOT use the Information, directly or indirectly, in whole or in part (i) for commercial purposes, (ii) in a manner that competes with MSCI or impacts its ability to commercialize the Information or its services, (iii) to provide a service to a third party, (iv) to permit a third party to directly or indirectly access, use or resell the Information, (v) to redistribute or resell the Information in any form, (vi) to include the Information in any materials for public dissemination such as fund factsheets, market presentations, prospectuses, and investor information documents (e.g. KIIDs or KIDs), (vii) to create or as a component of any financial products, whether listed or traded over the counter or on a private placement basis or otherwise, (viii) to create any indexes, ratings or other data products, including in derivative works combined with other indexes or data or as a policy, product or performance benchmarks for active, passive or other financial products, (ix) to populate a database, or (x) to train, use as an input to, or otherwise in conn

MSCI ACWI: The update corrects malformed footnote/reference markers, such as “8F9” becoming “9”, removes a stray space, and reformats Note 11 into clearer bullet points. It does not change the DM/EM liquidity thresholds, China suspension rules, listing priority, USD 10,000 screen, or ATVR adjustment provisions. (Editorial)

2026-10-02T00:00:00Z

The update corrects malformed footnote/reference markers, such as “8F9” becoming “9”, removes a stray space, and reformats Note 11 into clearer bullet points. It does not change the DM/EM liquidity thresholds, China suspension rules, listing priority, USD 10,000 screen, or ATVR adjustment provisions. Previous: In addition to the ATVR and Frequency of Trading requirements, securities in the MSCI China Equity Universe will not be eligible for inclusion in the Market Investable Equity Universe if the securities: Are suspended on the Price Cutoff Date (as defined in section 3.1.9) of the Index Review Have been suspended for 50 consecutive business days or more in the past 12 months 5F6 Only one listing per security may be included in the Market Investable Equity Universe. In instances when a security has two or more eligible listings that meet the above liquidity requirements, then the following priority rules are used to determine which listing will be used for potential inclusion of the security in the Market Investable Equity Universe: Local listing6F7 Foreign listing in the same geographical region 7F8 Foreign listing in a different geographical region 8F9. For example, In cases where the latest 3-month ATVR is not calculated due to suspensions, nonconstituents of the Investable Market Index are not eligible for the Market Investable Equity Universe . 11 Notes on ATVR calculation: Trading volumes and prices for liquidity computation will only be captured from eligible exchange, including USA and Canada. In general, MSCI uses free float-adjusted security market capitalization after the application of any relevant adjustment factors (e.g. adjustment factors applied due to low foreign room, Liquidity Adjustment Factors). - ATVR values used in the regular Index Reviews as well as the relevant thresholds are not rounded. In some cases of FIF changes due to significant FIF corrections, regulatory changes in Foreign Ownership Limits or methodology changes, MSCI may adjust ATVR values by applying the updated FIF during the relevant ATVR calculation period. Updated: In addition to the ATVR and Frequency of Trading requirements, securities in the MSCI China Equity Universe will not be eligible for inclusion in the Market Investable Equity Universe if the securities: Are suspended on the Price Cutoff Date (as defined in section 3.1.9) of the Index Review Have been suspended for 50 consecutive business days or more in the past 12 months6 Only one listing per security may be included in the Market Investable Equity Universe. In instances when a security has two or more eligible listings that meet the above liquidity requirements, then the following priority rules are used to determine which listing will be used for potential inclusion of the security in the Market Investable Equity Universe: Local listing7 Foreign listing in the same geographical region8 Foreign listing in a different geographical region9. For example, In cases where the latest 3-month ATVR is not calculated due to suspensions, nonconstituents of the Investable Market Index are not eligible for the Market Investable Equity Universe. 11 Notes on ATVR calculation: - Trading volumes and prices for liquidity computation will only be captured from eligible exchange, including USA and Canada. In general, MSCI uses free float-adjusted security market capitalization after the application of any relevant adjustment factors (e.g. adjustment factors applied due to low foreign room, Liquidity Adjustment Factors). ATVR values used in the regular Index Reviews as well as the relevant thresholds are not rounded. - In some cases of FIF changes due to significant FIF corrections, regulatory changes in Foreign Ownership Limits or methodology changes, MSCI may adjust ATVR values by applying the updated FIF during the relevant ATVR calculation period.

MSCI ACWI: The updated document removes the entire “Contact Us” section, including MSCI’s regional telephone numbers, website contact link, and pointer to the formal index-complaint process. This does not alter any index methodology rule, eligibility, weighting, calculation, review, or notice requirement. (Editorial)

2026-10-02T00:00:00Z

The updated document removes the entire “Contact Us” section, including MSCI’s regional telephone numbers, website contact link, and pointer to the formal index-complaint process. This does not alter any index methodology rule, eligibility, weighting, calculation, review, or notice requirement. Previous: About MSCI AMERICA MSCI is a leading provider of critical decision United States + 1 888 588 4567 * support tools and services for the global Canada + 1 416 687 6270 investment community. With over 50 years of Brazil + 55 11 4040 7830 expertise in research, data and technology, we Mexico + 52 81 1253 4020 power better investment decisions by enabling clients to understand and analyze key drivers of risk and return and confidently build more EUROPE, MIDDLE EAST & AFRICA effective portfolios. We create industry-leading research-enhanced solutions that clients use to South Africa + 27 21 673 0103 gain insight into and improve transparency across Germany + 49 69 133 859 00 the investment process. Switzerland + 41 22 817 9777 United Kingdom + 44 20 7618 2222 Italy + 39 02 5849 0415 To learn more, please visit www.msci.com. France + 33 17 6769 810 msci.com/contact-us ASIA PACIFIC The process for submitting a formal index complaint China + 86 21 61326611 can be found on the index regulation page of MSCI’s Hong Kong + 852 2844 9333 website at: https://www.msci.com/index-regulation. India + 91 22 6784 9160 Malaysia 1800818185 * South Korea + 82 70 4769 4231 Singapore + 65 67011177 Australia + 612 9033 9333 Taiwan 008 0112 7513 * Thailand 0018 0015 6207 7181 * Japan + 81 3 4579 0333 * toll-free

MSCI ACWI: The methodology-book change history adds a February 2026 block covering foreign-room weight increases for existing constituents, micro-cap liquidity treatment for last-quarter suspensions, the Appendix I ineligible alert-boards table, Appendix II Advanced FM effective dates and Index Continuity markets, and Appendix VIII foreign-room weight increases. Contact information and the standard legal disclaimer are also appended. (Minor)

2026-10-02T00:00:00Z

The methodology-book change history adds a February 2026 block covering foreign-room weight increases for existing constituents, micro-cap liquidity treatment for last-quarter suspensions, the Appendix I ineligible alert-boards table, Appendix II Advanced FM effective dates and Index Continuity markets, and Appendix VIII foreign-room weight increases. Contact information and the standard legal disclaimer are also appended. Updated: The following section has been modified as of February 2026: Section 3.1.6.2 For Existing Constituents Updated to clarify the methodology of weight increase due to foreign room Section 4.1.3 Micro Cap Minimum Liquidity Requirement Updated to clarify the treatment for last quarter suspensions Appendix I: Equity Markets and Universe Updated the table Ineligible Alert Boards to remove Singapore Clarifications relating to changes in board under “Other Cases” Appendix II: Market Classification Framework Updated to clarify the effective date of any changes to the MSCI Advanced FM Indexes Updated the markets under Index Continuity Appendix VIII: Market Monitoring Framework and Potential Switch to a Light Rebalancing under Conditions of Market Stress Updated to clarify the methodology of weight increase due to foreign room Contact Us About MSCI AMERICA MSCI is a leading provider of critical decision United States + 1 888 588 4567 * support tools and services for the global Canada + 1 416 687 6270 investment community. With over 50 years of Brazil + 55 11 4040 7830 expertise in research, data and technology, we power better investment decisions by enabling Mexico + 52 81 1253 4020 clients to understand and analyze key drivers of risk and return and confidently build more EUROPE, MIDDLE EAST & AFRICA effective portfolios. We create industry-leading research-enhanced solutions that clients use to South Africa + 27 21 673 0103 gain insight into and improve transparency across Germany + 49 69 133 859 00 the investment process. Switzerland + 41 22 817 9777 United Kingdom + 44 20 7618 2222 Italy + 39 02 5849 0415 To learn more, please visit www.msci.com. France + 33 17 6769 810 msci.com/contact-us ASIA PACIFIC The process for submitting a formal index complaint China + 86 21 61326611 can be found on the index regulation page of MSCI’s Hong Kong + 852 2844 9333 website at: https://www.msci.com/index-regulation. India + 91 22 6784 9160 Malaysia 1800818185 * South Korea + 82 70 4769

MSCI ACWI: The update adds a "Methodology" heading at the beginning and a document footer dated November 2025. It also reformats/reflows a stray bullet marker in the Baltic States ATVR sentence. No index rule, threshold, date, or eligibility requirement is changed. (Editorial)

2026-10-02T00:00:00Z

The update adds a "Methodology" heading at the beginning and a document footer dated November 2025. It also reformats/reflows a stray bullet marker in the Baltic States ATVR sentence. No index rule, threshold, date, or eligibility requirement is changed. Previous: The MSCI Estonia, MSCI Lithuania and MSCI Latvia Indexes are then derived from the constituents of the MSCI Baltic States Indexes, As part of the August 2023 Index Review, the constituents of the MSCI Estonia and o MSCI Lithuania Indexes were considered as existing constituents of the MSCI Baltic States Index for rebalancing purpose, o The MSCI Baltic States Indexes is maintained as a Very Low Liquidity market with a minimum Annualized Traded Value Ratio (ATVR) requirement of 2.5%. Updated: Methodology The MSCI Estonia, MSCI Lithuania and MSCI Latvia Indexes are then derived from the constituents of the MSCI Baltic States Indexes, As part of the August 2023 Index Review, the constituents of the MSCI Estonia and o MSCI Lithuania Indexes were considered as existing constituents of the MSCI Baltic States Index for rebalancing purpose, The MSCI Baltic States Indexes is maintained as a Very Low Liquidity market with a o minimum Annualized Traded Value Ratio (ATVR) requirement of 2.5%. MSCI Global Investable Market Indexes Methodology | November 2025

MSCI ACWI: The updated text inserts the phrase "compared to Parent Indexes" at the start of the section's first sentence. No rule, threshold, schedule, treatment, or affected set of securities changes; the insertion appears to duplicate wording from the section title and does not alter the substance. (Editorial)

2026-10-02T00:00:00Z

The updated text inserts the phrase "compared to Parent Indexes" at the start of the section's first sentence. No rule, threshold, schedule, treatment, or affected set of securities changes; the insertion appears to duplicate wording from the section title and does not alter the substance. Previous: Indexes constructed from a parent index that follows GIMI methodology but apply an alternative weighting methodology and/or additional screening methodology (Derived Indexes), such as MSCI Factor, ESG or Capped Indexes, may have Index Review schedules which do not always coincide with the Index Review schedule of their respective parent index. Updated: compared to Parent Indexes Indexes constructed from a parent index that follows GIMI methodology but apply an alternative weighting methodology and/or additional screening methodology (Derived Indexes), such as MSCI Factor, ESG or Capped Indexes, may have Index Review schedules which do not always coincide with the Index Review schedule of their respective parent index.

MSCI ACWI: The updated section adds the heading "Index Review" and separates the introductory historical schedule from the description of SAIR objectives. No index methodology, schedule, threshold, or treatment is changed. (Editorial)

2026-10-02T00:00:00Z

The updated section adds the heading "Index Review" and separates the introductory historical schedule from the description of SAIR objectives. No index methodology, schedule, threshold, or treatment is changed. Previous: Prior to the February 2023 Index Review, the MSCI Global Investable Market Indexes were reviewed on a quarterly basis which involved: - Semi-Annual Index Reviews (SAIRs) in May and November and - Quarterly Index Reviews (QIRs) in February and August The objective of the SAIRs was to systematically reassess the various dimensions of the Equity Universe for all markets, involving a comprehensive review of the Size-Segment Indexes. Updated: Index Review Prior to the February 2023 Index Review, the MSCI Global Investable Market Indexes were reviewed on a quarterly basis which involved: - Semi-Annual Index Reviews (SAIRs) in May and November and - Quarterly Index Reviews (QIRs) in February and August The objective of the SAIRs was to systematically reassess the various dimensions of the Equity Universe for all markets, involving a comprehensive review of the Size-Segment Indexes.

MSCI ACWI: The updated text prepends the label "Review of the Small Cap Index" to the opening sentence. The substantive description of the May 2007 review, eligibility requirements, additions, deletions, and market-capitalization ranges remains unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated text prepends the label "Review of the Small Cap Index" to the opening sentence. The substantive description of the May 2007 review, eligibility requirements, additions, deletions, and market-capitalization ranges remains unchanged. Previous: The changes resulting from the May 2007 Annual Full Country Index Review of the existing Standard Indexes were announced on May 3, 2007, earlier than its normal announcement Updated: Review of the Small Cap Index The changes resulting from the May 2007 Annual Full Country Index Review of the existing Standard Indexes were announced on May 3, 2007, earlier than its normal announcement

MSCI ACWI: The updated text adds the word "Period" before "During" at the beginning of the section. No index review, eligibility, weighting, calculation, or transition rule is changed. (Editorial)

2026-10-02T00:00:00Z

The updated text adds the word "Period" before "During" at the beginning of the section. No index review, eligibility, weighting, calculation, or transition rule is changed. Previous: During the transition period, from May 4, 2007 through May 30, 2008, MSCI was maintaining its Updated: Period During the transition period, from May 4, 2007 through May 30, 2008, MSCI was maintaining its

MSCI ACWI: The only change is the footnote/reference marker attached to "MSCI China A Indexes," which changes from "63F66" to "66." The stated purpose, investor audience, constituent relationship, and calculated index size segments remain unchanged. (Editorial)

2026-10-02T00:00:00Z

The only change is the footnote/reference marker attached to "MSCI China A Indexes," which changes from "63F66" to "66." The stated purpose, investor audience, constituent relationship, and calculated index size segments remain unchanged. Previous: The MSCI China A Indexes63F66 and the MSCI China A RMB Indexes are designed to represent the performance of the China A shares portion of the MSCI China Index. Updated: The MSCI China A Indexes66 and the MSCI China A RMB Indexes are designed to represent the performance of the China A shares portion of the MSCI China Index.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Other cases of early inclusion of China A shares (for example but not limited to spin off, merger, acquisition) will only be considered for inclusion in the MSCI China Indexes - if the event involves an existing constituent of the index, - if the new security is assigned to the Large Cap or Mid Cap size-segment, - and if the Stock Connect eligibility of the security is announced on or before the day of MSCI sending “Confirmed” corporate event announcement for the relevant event. Updated: Other cases of early inclusion of China A shares (for example but not limited to spin off, merger, acquisition) will only be considered for inclusion in the MSCI China Indexes - if the event involves an existing constituent of the index, if the new security is assigned to the Large Cap or Mid Cap size-segment, and if the Stock Connect eligibility of the security is announced on or before the day of MSCI sending “Confirmed” corporate event announcement for the relevant event.

MSCI ACWI: The updated version only reformats the Light Rebalancing eligibility requirements for China A shares, inserting line breaks and a hyphen in "FIF-adjusted" and presenting Stock Connect eligibility as a separate bullet. The 1.8x market-capitalization thresholds and Stock Connect requirement are unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated version only reformats the Light Rebalancing eligibility requirements for China A shares, inserting line breaks and a hyphen in "FIF-adjusted" and presenting Stock Connect eligibility as a separate bullet. The 1.8x market-capitalization thresholds and Stock Connect requirement are unchanged. Previous: During a Light Rebalancing, China A shares that are non-current constituents of the MSCI China Index must meet the following requirements to be added to the MSCI China Index: - 1.8x the Interim Market Size-Segment Cutoff in terms of company full market capitalization - 1.8x one-half times the Interim Market Size-Segment Cutoff in terms of security FIFadjusted market capitalization Stock Connect eligibility - Updated: During a Light Rebalancing, China A shares that are non-current constituents of the MSCI China Index must meet the following requirements to be added to the MSCI China Index: - 1.8x the Interim Market Size-Segment Cutoff in terms of company full market capitalization - 1.8x one-half times the Interim Market Size-Segment Cutoff in terms of security FIF- adjusted market capitalization - Stock Connect eligibility

MSCI ACWI: The disclosed Equity Universe Minimum Size Requirement was updated from the November 2025 Index Review levels to the February 2026 levels. For Developed and Emerging Markets, the minimum full market capitalization increased from USD 505 million to USD 507 million; for Frontier Markets, it increased from USD 12 million to USD 13 million. The footnote marker and example table formatting were also corrected without changing the methodology. (Minor)

2026-10-02T00:00:00Z

The disclosed Equity Universe Minimum Size Requirement was updated from the November 2025 Index Review levels to the February 2026 levels. For Developed and Emerging Markets, the minimum full market capitalization increased from USD 505 million to USD 507 million; for Frontier Markets, it increased from USD 12 million to USD 13 million. The footnote marker and example table formatting were also corrected without changing the methodology. Previous: First, the companies in the DM Equity Universe are sorted in descending order of full market capitalization and the cumulative coverage of the free float-adjusted market capitalization4F5 of the DM Equity Universe is calculated at each company. Cumulative Free Free Float- Float-Adjusted Full Market Adjusted Market Market Capitalization Capitalization Capitalization Rank of Company Country (USD millions) (USD millions) Coverage Company A a 400,000 400,000 1.29% 1 B a 360,000 360,000 2.45% 2 C a 275,000 250,000 3.26% 3 AD a 250,000 250,000 4.06% 4 AE b 240,000 190,000 4.68% 5 AF c 235,000 95,000 4.98% 6 GG a 230,000 230,000 5.73% 7 AH a 225,000 225,000 6.45% 8 AL d 210,000 210,000 7.13% 9 … … … … … … … … … … .. .. .. .. .. WWW f 1,000 250 98.99% 8,007 XYZ g 150 130 99.00% 8,008 YYY f 125 125 99.01% 8,009 ZZZZ f 100 100 99.01% 8,010 … … … … … Total 31,000,000 100.00% At the time of the November 2025 Index Review, the Equity Universe Minimum Size Requirement was USD 505 million for the Developed and Emerging Markets while it was USD 12 million for the Frontier Markets. Updated: First, the companies in the DM Equity Universe are sorted in descending order of full market capitalization and the cumulative coverage of the free float-adjusted market capitalization5 of the DM Equity Universe is calculated at each company. Cumulative Free Free Float- Float-Adjusted Full Market Adjusted Market Market Capitalization Capitalization Capitalization Rank of Company Country (USD millions) (USD millions) Coverage Company A 400,000 400,000 1.29% 1 a B a 360,000 360,000 2.45% 2 C a 275,000 250,000 3.26% 3 AD 250,000 250,000 4.06% 4 a AE b 240,000 190,000 4.68% 5 AF c 235,000 95,000 4.98% 6 GG a 230,000 230,000 5.73% 7 AH 225,000 225,000 6.45% 8 a AL d 210,000 210,000 7.13% 9 … … … … … … … … … … .. .. .. .. .. WWW f 1,000 250 98.99% 8,007 XYZ 150 130 99.00% 8,008 g YYY f 125 125 99.01% 8,009 ZZZZ f 100 100 99.01% 8,010 … … … … … Total 31,000,000 100.00% At the time of the February 2026 Index Review, the Equity Universe Minimum Size Requirement was USD 507 million for the Developed and Emerging Markets while it was USD 13 million for the Frontier Markets.

MSCI ACWI: The updated version splits the run-on list of China A share size-segment investability requirements into separate lines. The substantive requirements—1.0x company full market capitalization, 0.5x security FIF-adjusted market capitalization, the 1.8x requirement for securities with FIF below 0.15, Stock Connect eligibility, and exclusion of Small Cap additions—remain unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated version splits the run-on list of China A share size-segment investability requirements into separate lines. The substantive requirements—1.0x company full market capitalization, 0.5x security FIF-adjusted market capitalization, the 1.8x requirement for securities with FIF below 0.15, Stock Connect eligibility, and exclusion of Small Cap additions—remain unchanged. Previous: More specifically, during Index Reviews, China A shares that are non-current constituents of the MSCI China Index and assigned to the Large Cap or Mid Cap Size-Segments must meet the following requirements to be added to the MSCI China Index: 1.0x the Standard Cutoff in terms of company full market capitalization - - 0.5x the Standard Cutoff in terms of security FIF-adjusted market capitalization o Securities with FIF below 0.15 must meet 1.8x 0.5x the Standard Cutoff in terms of Security FIF-adjusted Market Capitalization - Stock Connect eligibility China A shares assigned to Small Cap Size-Segment will not be added to the MSCI China Indexes. Updated: More specifically, during Index Reviews, China A shares that are non-current constituents of the MSCI China Index and assigned to the Large Cap or Mid Cap Size-Segments must meet the following requirements to be added to the MSCI China Index: - 1.0x the Standard Cutoff in terms of company full market capitalization - 0.5x the Standard Cutoff in terms of security FIF-adjusted market capitalization Securities with FIF below 0.15 must meet 1.8x 0.5x the Standard Cutoff in terms of o Security FIF-adjusted Market Capitalization - Stock Connect eligibility China A shares assigned to Small Cap Size-Segment will not be added to the MSCI China Indexes.

MSCI ACWI: The updated text prepends the word "Segments" to the first sentence of the section. The substantive requirements for market size-segment cutoffs and company size-segment allocation remain unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated text prepends the word "Segments" to the first sentence of the section. The substantive requirements for market size-segment cutoffs and company size-segment allocation remain unchanged. Previous: The Market Size-Segment Cutoffs and the Size-Segment allocation of companies are based on the integrated MSCI China Investable Equity Universe. Updated: Segments The Market Size-Segment Cutoffs and the Size-Segment allocation of companies are based on the integrated MSCI China Investable Equity Universe.

MSCI ACWI: The paragraph was reformatted so the bullet marker appears before the first suspension condition, and the footnote marker spacing was adjusted. The two exclusion conditions for newly eligible securities remain unchanged: suspension on the Price Cutoff date, or suspension for at least 50 consecutive days in the past 12 months. (Editorial)

2026-10-02T00:00:00Z

The paragraph was reformatted so the bullet marker appears before the first suspension condition, and the footnote marker spacing was adjusted. The two exclusion conditions for newly eligible securities remain unchanged: suspension on the Price Cutoff date, or suspension for at least 50 consecutive days in the past 12 months. Previous: In addition to the Investability Requirements described in section 2.2, MSCI will exclude newly eligible securities (securities that are not current constituents of the Investable Market Indexes) from the investable equity universe if the securities: Are suspended on the Price Cutoff date, or - - Have been suspended for at least 50 days consecutively in the past 12 months 62F65 Companies and securities are evaluated based on the integrated MSCI China Equity Universe. Updated: In addition to the Investability Requirements described in section 2.2, MSCI will exclude newly eligible securities (securities that are not current constituents of the Investable Market Indexes) from the investable equity universe if the securities: - - Are suspended on the Price Cutoff date, or Have been suspended for at least 50 days consecutively in the past 12 months65 Companies and securities are evaluated based on the integrated MSCI China Equity Universe.

MSCI ACWI: The updated exhibit labels the start of the flowchart as “Integrated MSCI China Equity Universe” and rearranges diagram labels, while the narrative text only changes spacing and removes the anomalous “61F” from the CDR footnote reference. The definition of the integrated China equity universe and the applicable exclusions for China A shares remain unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated exhibit labels the start of the flowchart as “Integrated MSCI China Equity Universe” and rearranges diagram labels, while the narrative text only changes spacing and removes the anomalous “61F” from the CDR footnote reference. The definition of the integrated China equity universe and the applicable exclusions for China A shares remain unchanged. Previous: -> A-shares, CDRs and B-shares listed in China China A Share component -> H-shares, Red-chips, P-chips listed in HK -> foreign listed companies MSCI China A MSCI China A Integrated MSCI China Investable MSCI China A (exclude Mid and Small Cap China A shares) International Inclusion Stock Connect Screen on China A shares Universe the integrated MSCI China Equity Universe comprised of A‐shares, CDRs61F64 and B‐shares listed in China, H‐shares, Red‐chips, and P‐chips listed in Hong Kong and foreign listings Updated: Integrated MSCI China Equity Universe -> A-shares, CDRs and B-shares listed in China China A Share component -> H-shares, Red-chips, P-chips listed in HK -> foreign listed companies MSCI China A MSCI China A Integrated MSCI China Investable MSCI China A International (exclude Mid and Small Cap China A shares) Inclusion Universe Stock Connect Screen on China A shares the integrated MSCI China Equity Universe comprised of A‐ shares, CDRs64 and B‐ shares listed in China, H‐ shares, Red‐ chips, and P‐ chips listed in Hong Kong and foreign listings

MSCI ACWI: The dedicated "INTEGRATED MSCI CHINA EQUITY UNIVERSE" section appearing on pages 128-133 of the previous methodology has been removed and is absent from the updated version. No replacement text is provided, so the specific universe rules affected cannot be identified from the supplied passage. (Minor)

2026-10-02T00:00:00Z

The dedicated "INTEGRATED MSCI CHINA EQUITY UNIVERSE" section appearing on pages 128-133 of the previous methodology has been removed and is absent from the updated version. No replacement text is provided, so the specific universe rules affected cannot be identified from the supplied passage.

MSCI ACWI: The text removes the space and apparent marker between "2020" and "63," changing "January 2020 60F63" to "January 202063." No index maintenance rule, date, threshold, or procedure is substantively modified. (Editorial)

2026-10-02T00:00:00Z

The text removes the space and apparent marker between "2020" and "63," changing "January 2020 60F63" to "January 202063." No index maintenance rule, date, threshold, or procedure is substantively modified. Previous: This section has been updated in January 2020 60F63. Updated: This section has been updated in January 202063.

MSCI ACWI: The MSCI China Indexes share-class matrix is reflowed into separate rows, and the visible ✓ markers from the previous table no longer appear. Internal footnote-link markers are also simplified, such as “56F59” to “59.” The narrative eligibility and 20% Stock Connect inclusion-factor rules are unchanged. (Editorial)

2026-10-02T00:00:00Z

The MSCI China Indexes share-class matrix is reflowed into separate rows, and the visible ✓ markers from the previous table no longer appear. Internal footnote-link markers are also simplified, such as “56F59” to “59.” The narrative eligibility and 20% Stock Connect inclusion-factor rules are unchanged. Previous: Share Class Domestic MSCI China Indexes P Connect Index Free Float Foreign B Shares H Shares Red Chips Size- Chips Listings A Shares CDR* eligible Listing Inclusion Inclusion Segment only Factor Factor Integrated China Equity Universe ✓ ✓ ✓ ✓ ✓ ✓ ✓ MSCI China All Shares Index L/M/S Onshore FIF ✓ MSCI China A International Index L/M/S Onshore FIF ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ MSCI China Indexes L/M Connect 20% FIF ✓ ✓ MSCI China A Inclusion Index L/M Connect FIF ✓ ✓ MSCI China A Inclusion RMB Index L/M Onshore FIF MSCI China A Index ✓ ✓ L/M Connect FIF ✓ ✓ MSCI China A RMB Index L/M Onshore FIF Domestic China A Shares Equity Universe ✓ MSCI China A Onshore Index L/M/S Onshore DIF * CDRs are generally subject to the same requirements as China A shares, including Stock Connect eligibility further described in Appendix on Index Maintenance of the MSCI China Indexes. For more details on the MSCI China All Shares and MSCI China A International Indexes, please refer to the MSCI China All Shares Indexes Methodology56F59. 59 Available on https://www.msci.com/index-methodology Following the inclusion of Mid Cap China A shares in the MSCI Emerging Markets Index in the November 2019 Index Review, the MSCI China A Indexes57F60 represent the performance of the China A shares portion of the MSCI China Index. The MSCI China A Inclusion Indexes58F61 represent the China A share portion of the MSCI China Index and are identical to the MSCI China A Indexes following the inclusion of Mid Cap China A shares in the MSCI Emerging Markets Index. In addition, MSCI will also continue to calculate the MSCI China A Onshore Indexes59F62 which are based on the Domestic Inclusion Factor (DIF) that is not subject to FOL and constructed only on the basis of the China A Equity Universe. Updated: Share Class Domestic MSCI China Indexes P Foreign Connect Index Free Float B Shares H Shares Red Chips Size- Chips Listings A Shares CDR* eligible Listing Inclusion Inclusion Segment only Factor Factor Integrated China Equity Universe MSCI China All Shares Index L/M/S Onshore FIF MSCI China A International Index L/M/S Onshore FIF MSCI China Indexes L/M Connect 20% FIF MSCI China A Inclusion Index L/M Connect FIF MSCI China A Inclusion RMB Index L/M Onshore FIF MSCI China A Index L/M Connect FIF MSCI China A RMB Index L/M Onshore FIF Domestic China A Shares Equity Universe MSCI China A Onshore Index L/M/S Onshore DIF * CDRs are generally subject to the same requirements as China A shares, including Stock Connect eligibility further described in Appendix on Index Maintenance of the MSCI China Indexes. For more details on the MSCI China All Shares and MSCI China A International Indexes, please refer to the MSCI China All Shares Indexes Methodology59. 59 Available on https://www.msci.com/index-methodology Following the inclusion of Mid Cap China A shares in the MSCI Emerging Markets Index in the November 2019 Index Review, the MSCI China A Indexes60 represent the performance of the China A shares portion of the MSCI China Index. The MSCI China A Inclusion Indexes61 represent the China A share portion of the MSCI China Index and are identical to the MSCI China A Indexes following the inclusion of Mid Cap China A shares in the MSCI Emerging Markets Index. In addition, MSCI will also continue to calculate the MSCI China A Onshore Indexes 62 which are based on the Domestic Inclusion Factor (DIF) that is not subject to FOL and constructed only on the basis of the China A Equity Universe.

MSCI ACWI: The updated text removes the stray "54F" and "55F" characters from the footnote references following China and Australia, leaving footnotes 57 and 58 respectively. The list of countries for which MSCI Domestic Indexes are available is unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated text removes the stray "54F" and "55F" characters from the footnote references following China and Australia, leaving footnotes 57 and 58 respectively. The list of countries for which MSCI Domestic Indexes are available is unchanged. Previous: Currently, MSCI Domestic Indexes based on the MSCI Global Investable Market Indexes Methodology are available for China54F57, India, GCC Countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates), Canada, Korea and Australia55F58. Updated: Currently, MSCI Domestic Indexes based on the MSCI Global Investable Market Indexes Methodology are available for China57, India, GCC Countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates), Canada, Korea and Australia58.

MSCI ACWI: The wording of the IPO inclusion rule is unchanged except for an inserted space in the term "Sub‐ section." This is a formatting-only change and does not alter the rule for including DRs of significant IPOs in the MSCI DR Indexes. (Editorial)

2026-10-02T00:00:00Z

The wording of the IPO inclusion rule is unchanged except for an inserted space in the term "Sub‐ section." This is a formatting-only change and does not alter the rule for including DRs of significant IPOs in the MSCI DR Indexes. Previous: DRs of IPOs which are significant in size and included early in the MSCI Global Standard Indexes according to Sub‐section 3.2.7, will be simultaneously included in the MSCI DR Indexes. Updated: DRs of IPOs which are significant in size and included early in the MSCI Global Standard Indexes according to Sub‐ section 3.2.7, will be simultaneously included in the MSCI DR Indexes.

MSCI ACWI: The updated text adds the word "Indexes" before the first sentence of the section. The rules for calculating DR number of shares and applying the parent index constituent's FIF remain unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated text adds the word "Indexes" before the first sentence of the section. The rules for calculating DR number of shares and applying the parent index constituent's FIF remain unchanged. Previous: The NOS of the DRs in the MSCI DR Indexes is based on the maximum DRs that could be issued by dividing the number of shares of the Parent Index by the DR ratio (ratio between the common shares and the DRs). Updated: Indexes The NOS of the DRs in the MSCI DR Indexes is based on the maximum DRs that could be issued by dividing the number of shares of the Parent Index by the DR ratio (ratio between the common shares and the DRs).

MSCI ACWI: The update only repairs footnote-reference formatting and spacing in the eligibility paragraph. The substantive eligibility rules for REITs, Canadian income trusts, mutual funds, ETFs, equity derivatives, and investment trusts are unchanged. (Editorial)

2026-10-02T00:00:00Z

The update only repairs footnote-reference formatting and spacing in the eligibility paragraph. The substantive eligibility rules for REITs, Canadian income trusts, mutual funds, ETFs, equity derivatives, and investment trusts are unchanged. Previous: All listed equity securities, including Real Estate Investment Trusts (REITs) 1F2 and certain income trusts listed in Canada2F3 are eligible for inclusion in the Equity Universe. Conversely, mutual funds, ETFs, equity derivatives, and most investment trusts are not eligible for inclusion in the Equity Universe. 3F4 Updated: All listed equity securities, including Real Estate Investment Trusts (REITs)2 and certain income trusts listed in Canada 3 are eligible for inclusion in the Equity Universe. Conversely, mutual funds, ETFs, equity derivatives, and most investment trusts are not eligible for inclusion in the Equity Universe.4

MSCI ACWI: The updated text adds the stray phrase "and Ranges" before the opening sentence. The substantive statement that Global Minimum Size References and ranges are calculated daily remains unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated text adds the stray phrase "and Ranges" before the opening sentence. The substantive statement that Global Minimum Size References and ranges are calculated daily remains unchanged. Previous: As markets evolve due to events and price performance, the Global Minimum Size Reference and ranges are calculated on a daily basis using the following general principles. Updated: and Ranges As markets evolve due to events and price performance, the Global Minimum Size Reference and ranges are calculated on a daily basis using the following general principles.

MSCI ACWI: The updated text adds the stray word "Reviews" at the beginning of the section and normalizes footnote reference markers. The substantive policy for postponing, cancelling, or resuming index review changes for suspended securities remains unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated text adds the stray word "Reviews" at the beginning of the section and normalizes footnote reference markers. The substantive policy for postponing, cancelling, or resuming index review changes for suspended securities remains unchanged. Previous: MSCI will postpone the implementation of Index Review changes for IMI constituents, as well as Micro Cap constituents, when the affected securities are suspended 51F53 on the day prior to the effective implementation date52F54 of the Index Review. Additions of Chinese securities to all MSCI Indexes53F55 (including pro forma MSCI China Indexes, MSCI China A Inclusion Indexes, MSCI China All Shares Indexes and MSCI China A Onshore Indexes) will be cancelled instead of postponed if the securities are suspended on the day prior to the effective implementation of the Index Review. Updated: Reviews MSCI will postpone the implementation of Index Review changes for IMI constituents, as well as Micro Cap constituents, when the affected securities are suspended53 on the day prior to the effective implementation date54 of the Index Review. Additions of Chinese securities to all MSCI Indexes55 (including pro forma MSCI China Indexes, MSCI China A Inclusion Indexes, MSCI China All Shares Indexes and MSCI China A Onshore Indexes) will be cancelled instead of postponed if the securities are suspended on the day prior to the effective implementation of the Index Review.

MSCI ACWI: The updated version adds the text fragment "Market Closures during Index Reviews," which appears to be a heading or extracted title rather than an index methodology rule. No substantive policy, threshold, procedure, or affected-security condition is introduced. (Editorial)

2026-10-02T00:00:00Z

The updated version adds the text fragment "Market Closures during Index Reviews," which appears to be a heading or extracted title rather than an index methodology rule. No substantive policy, threshold, procedure, or affected-security condition is introduced. Updated: Market Closures during Index Reviews

MSCI ACWI: The liquidity-deletion rules are unchanged. The update only adds a stray/repeated “Rebalancings” heading fragment, changes footnote reference labels, and relocates the existing deletion bullet before the footnotes without altering its conditions. (Editorial)

2026-10-02T00:00:00Z

The liquidity-deletion rules are unchanged. The update only adds a stray/repeated “Rebalancings” heading fragment, changes footnote reference labels, and relocates the existing deletion bullet before the footnotes without altering its conditions. Previous: Existing constituents of the Investable Market Indexes can remain in the Investable Market Indexes only if: The 3-month ATVR and Frequency of Trading are at least 5% and 80% respectively for Developed Markets The 3-month ATVR and Frequency of Trading are at least 5% and 70% respectively for Emerging Markets If the listing used for an existing constituent no longer meets the above liquidity requirements, other eligible listings that do meet such liquidity requirements will be used to represent the security in the Market Investable Equity Universe. If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing48F50 Foreign listing in the same geographical region 49F51 Foreign listing in a different geographical region 50F52 If an existing constituent of a Standard Index in Emerging Markets fails to meet the liquidity requirements, but has a weight of more than 10% in the respective country index and its free float adjusted market capitalization is above 0.5 times the Global Minimum Size Reference for Emerging Markets, then such constituent will remain in the index. However, MSCI would apply a Liquidity Adjustment Factor of 0.5 to the weight of the security, and in the subsequent Index Review, MSCI: Would delete the security from the index if the security does not meet all liquidity requirements for existing constituents calculated after applying the Liquidity Adjustment Factor; or Would maintain the security in the GIMI and remove the Liquidity Adjustment Factor if the security meets all the liquidity requirements for new constituents, calculated before applying the Liquidity Adjustment Factor for three consecutive Index Reviews; or Would continue maintaining the security in the GIMI with the Liquidity Adjustment Factor of Updated: Rebalancings Existing constituents of the Investable Market Indexes can remain in the Investable Market Indexes only if: The 3-month ATVR and Frequency of Trading are at least 5% and 80% respectively for Developed Markets The 3-month ATVR and Frequency of Trading are at least 5% and 70% respectively for Emerging Markets If the listing used for an existing constituent no longer meets the above liquidity requirements, other eligible listings that do meet such liquidity requirements will be used to represent the security in the Market Investable Equity Universe. If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing50 Foreign listing in the same geographical region51 Foreign listing in a different geographical region52 If an existing constituent of a Standard Index in Emerging Markets fails to meet the liquidity requirements, but has a weight of more than 10% in the respective country index and its free float adjusted market capitalization is above 0.5 times the Global Minimum Size Reference for Emerging Markets, then such constituent will remain in the index. However, MSCI would apply a Liquidity Adjustment Factor of 0.5 to the weight of the security, and in the subsequent Index Review, MSCI: Would delete the security from the index if the security does not meet all liquidity requirements for existing constituents calculated after applying the Liquidity Adjustment Factor; or Would maintain the security in the GIMI and remove the Liquidity Adjustment Factor if the security meets all the liquidity requirements for new constituents, calculated before applying the Liquidity Adjustment Factor for three consecutive Index Reviews; or Would continue maintaining the security in the GIMI with the Liquidity Adjustment Factor of

MSCI ACWI: The updated text adds the run-in heading "Light Rebalancings" and makes the illustrative IPO timing sentence contiguous by moving the footnote placement. No eligibility, market-capitalization, assignment, or inclusion-timing rule is changed. (Editorial)

2026-10-02T00:00:00Z

The updated text adds the run-in heading "Light Rebalancings" and makes the illustrative IPO timing sentence contiguous by moving the footnote placement. No eligibility, market-capitalization, assignment, or inclusion-timing rule is changed. Previous: Securities that are currently not constituents of the Investable Market Indexes and that meet the investability screens described in Sub-section 2.2 (with the exception of the Minimum Length of Trading Requirement), including large IPOs that were not added earlier, and in addition meet the requirements listed below, are added to the Standard Index: A full market capitalization that exceeds 1.8 times the Interim Market Size-Segment Cutoff for the Standard Size-Segment A free float-adjusted market capitalization that exceeds 1.8 times one-half the Interim Market Size-Segment Cutoff for the Standard Size-Segment Securities that exhibit extreme price increase are not eligible for inclusion into the Standard Indexes. For example, when the effective date of inclusion of the IPO is August 29 (3 business days before September 1), while the effective date of the Index Review is September 1, the IPO will be added effective September 1. Updated: Light Rebalancings Securities that are currently not constituents of the Investable Market Indexes and that meet the investability screens described in Sub-section 2.2 (with the exception of the Minimum Length of Trading Requirement), including large IPOs that were not added earlier, and in addition meet the requirements listed below, are added to the Standard Index: A full market capitalization that exceeds 1.8 times the Interim Market Size-Segment Cutoff for the Standard Size-Segment A free float-adjusted market capitalization that exceeds 1.8 times one-half the Interim Market Size-Segment Cutoff for the Standard Size-Segment Securities that exhibit extreme price increase are not eligible for inclusion into the Standard Indexes. For example, when the effective date of inclusion of the IPO is August 29 (3 business days before September 1), while the effective date of the Index Review is September 1, the IPO will be added effective September 1.

MSCI ACWI: The 12-month waiting period for generally restoring a foreign-room adjustment factor after a weight reduction, or for reconsidering a security deleted for low foreign room, is now expressly measured from the effective date of that reduction or deletion. The update adds a May 2026/May 2025 example. Other changes are formatting, paragraph placement, and footnote-marker cleanup. (Major)

2026-10-02T00:00:00Z

The 12-month waiting period for generally restoring a foreign-room adjustment factor after a weight reduction, or for reconsidering a security deleted for low foreign room, is now expressly measured from the effective date of that reduction or deletion. The update adds a May 2026/May 2025 example. Other changes are formatting, paragraph placement, and footnote-marker cleanup. Previous: 0.25 0 Current adjustment factor = 0.5 1 0.25 0 If the foreign room of an existing constituent decreases below 3.75%, then the adjustment factor equals 046F48. Generally, an upward movement of the adjustment factor for existing constituents following a previous reduction in foreign room or index re-inclusion of a security deleted as a result of having a foreign room lower than 3.75% will only be considered 12 months after the weight reduction or deletion; unless the upward movement of the adjustment factor is primarily driven by a change in FOL and provided that the increase in FOL51 happened prior to the Price Cutoff Date of the previous Index Review described in Section 3.1.9: Date of Data Used for Index Review. For example, to be considered for the February Index Review, the potential increase in FOL must have happened before the Price Cutoff Date of the November Index Review. During the Index Review, for any existing IMI constituents whose weight is decreased as a result of a change in the adjustment factor due to low foreign room, MSCI will continue to monitor any potential increased foreign room due to an increase in FOL 47F49 until five business days before the effective date of that Index Review. Updated: 0.25 0 Current adjustment factor = 0.5 1 0.25 0 If the foreign room of an existing constituent decreases below 3.75%, then the adjustment factor equals 048. Generally, an upward movement of the adjustment factor for existing constituents following a previous reduction in foreign room or index re-inclusion of a security deleted as a result of having a foreign room lower than 3.75% will only be considered 12 months from the effective date of the weight reduction or deletion. (For example, to be considered for the May 2026 Index Review, the weight reduction or deletion should have been effective on or before the May 2025 Index Review); unless the upward movement of the adjustment factor is primarily driven by a change in FOL and provided that the increase in FOL51 happened prior to the Price Cutoff Date of the previous Index Review described in Section 3.1.9: Date of Data Used for Index Review. For example, to be considered for the February Index Review, the potential increase in FOL must have happened before the Price Cutoff Date of the November Index Review. During the Index Review, for any existing IMI constituents whose weight is decreased as a result of a change in the adjustment factor due to low foreign room, MSCI will continue to monitor any potential increased foreign room due to an increase in FOL49 until five business days before the effective date of that Index Review.

MSCI ACWI: The passage is reformatted from one continuous paragraph into separate lines and presents Market Liquidity as a bulleted condition. The monitoring period, liquidity and volatility thresholds, and market-functioning closure trigger remain unchanged. (Editorial)

2026-10-02T00:00:00Z

The passage is reformatted from one continuous paragraph into separate lines and presents Market Liquidity as a bulleted condition. The monitoring period, liquidity and volatility thresholds, and market-functioning closure trigger remain unchanged. Previous: MSCI sets the last ten business days of the month prior to the announcement date of an Index Review as the “market monitoring period.” If within the “market monitoring period”, one of the following two conditions related to the Market Liquidity and Market Functioning pillars of the Market Monitoring Framework is met, a review by the relevant MSCI Index Committee(s) whether or not to switch to a “light rebalancing” would be triggered: Market Liquidity, for any 3 days within the “market monitoring period” - MSCI ACWI-weighted bid-ask spread, measured as index market capitalizationo weighted bid-ask spread ( [ask-bid] / ask )46, breaching 0.19% AND o MSCI ACWI volatility, measured as the annualized standard deviation47 of the daily o returns of the MSCI ACWI over the past 10 business days, breaching 0.55 - OR - Market Functioning Unexpected full day or partial stock exchange closures impacting 20% of MSCI o ACWI constituents cumulatively over the “market monitoring period” Updated: MSCI sets the last ten business days of the month prior to the announcement date of an Index Review as the “market monitoring period.” If within the “market monitoring period”, one of the following two conditions related to the Market Liquidity and Market Functioning pillars of the Market Monitoring Framework is met, a review by the relevant MSCI Index Committee(s) whether or not to switch to a “light rebalancing” would be triggered: - Market Liquidity, for any 3 days within the “market monitoring period” MSCI ACWI-weighted bid-ask spread, measured as index market capitalizationo weighted bid-ask spread ( [ask-bid] / ask )46, breaching 0.19% AND o MSCI ACWI volatility, measured as the annualized standard deviation47 of the daily o returns of the MSCI ACWI over the past 10 business days, breaching 0.55 - OR - Market Functioning o Unexpected full day or partial stock exchange closures impacting 20% of MSCI ACWI constituents cumulatively over the “market monitoring period”

MSCI ACWI: The updated text adds the heading or fragment “Switch to a Light Rebalancing under Conditions of Market Stress.” The supplied passage contains no operative rule, threshold, trigger, schedule, or other methodology requirement. (Editorial)

2026-10-02T00:00:00Z

The updated text adds the heading or fragment “Switch to a Light Rebalancing under Conditions of Market Stress.” The supplied passage contains no operative rule, threshold, trigger, schedule, or other methodology requirement. Updated: Switch to a Light Rebalancing under Conditions of Market Stress

MSCI ACWI: The updated section adds the stray word "Trading" at the beginning of the first sentence. No substantive rule, threshold, formula, eligibility condition, or treatment of depository receipts is changed. (Editorial)

2026-10-02T00:00:00Z

The updated section adds the stray word "Trading" at the beginning of the first sentence. No substantive rule, threshold, formula, eligibility condition, or treatment of depository receipts is changed. Previous: Starting from the May 2024 Index Review, MSCI will apply the below approach to calculate the Foreign Inclusion Factor (FIF) for Depository Receipts (DRs) where underlying shares are not available for trading. Updated: Trading Starting from the May 2024 Index Review, MSCI will apply the below approach to calculate the Foreign Inclusion Factor (FIF) for Depository Receipts (DRs) where underlying shares are not available for trading.

MSCI ACWI: The updated text corrects the footnote reference markers for Thai NVDR issuance limits and company full market capitalization, changing "44F44" to "44" and "45F45" to "45". It also removes the space before footnote 44. No index eligibility, selection, weighting, or calculation rule is changed. (Editorial)

2026-10-02T00:00:00Z

The updated text corrects the footnote reference markers for Thai NVDR issuance limits and company full market capitalization, changing "44F44" to "44" and "45F45" to "45". It also removes the space before footnote 44. No index eligibility, selection, weighting, or calculation rule is changed. Previous: However, there is a limit on the amount of NVDRs that may be issued for financial institutions 44F44 (generally set at 25%). The company full market capitalization is calculated based on the price45F45 of the Local Line. Updated: However, there is a limit on the amount of NVDRs that may be issued for financial institutions44 (generally set at 25%). The company full market capitalization is calculated based on the price45 of the Local Line.

MSCI ACWI: The updated text changes “Market0F1” to “Market1” in the opening description of index construction. The listed construction steps and all substantive methodology requirements remain unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated text changes “Market0F1” to “Market1” in the opening description of index construction. The listed construction steps and all substantive methodology requirements remain unchanged. Previous: The MSCI Global Investable Markets Indexes are constructed and maintained at an individual Market0F1 level. Updated: The MSCI Global Investable Markets Indexes are constructed and maintained at an individual Market1 level.

MSCI ACWI: The updated text inserts the word "Issues" at the beginning of the first sentence. No eligibility, deletion, free-float, Foreign Inclusion Factor, timing, or readmission rule is changed. (Editorial)

2026-10-02T00:00:00Z

The updated text inserts the word "Issues" at the beginning of the first sentence. No eligibility, deletion, free-float, Foreign Inclusion Factor, timing, or readmission rule is changed. Previous: Securities of companies included on the Hong Kong Securities and Futures Commission (SFC) high shareholding concentration notices are not eligible for inclusion in the MSCI GIMI. Updated: Issues Securities of companies included on the Hong Kong Securities and Futures Commission (SFC) high shareholding concentration notices are not eligible for inclusion in the MSCI GIMI.

MSCI ACWI: The update corrects a malformed footnote reference from “43F43” to “43” and adds a line break before the foreign-room country list. No FIF, LIF, rounding, eligibility, foreign-room, or monitored-market rule changes. (Editorial)

2026-10-02T00:00:00Z

The update corrects a malformed footnote reference from “43F43” to “43” and adds a line break before the foreign-room country list. No FIF, LIF, rounding, eligibility, foreign-room, or monitored-market rule changes. Previous: Therefore, where deemed necessary, a LIF will be determined and applied based on an extensive, case-by-case analysis 43F43. Eligible Markets Country Name AUSTRALIA Developed Markets (DM) JAPAN CHINA INDIA INDONESIA KOREA PHILIPPINES Emerging Markets (EM) QATAR SAUDI ARABIA TAIWAN THAILAND* UNITED ARAB EMIRATES Updated: Therefore, where deemed necessary, a LIF will be determined and applied based on an extensive, case-by-case analysis 43. Eligible Markets Country Name AUSTRALIA Developed Markets (DM) JAPAN CHINA INDIA INDONESIA KOREA PHILIPPINES Emerging Markets (EM) QATAR SAUDI ARABIA TAIWAN THAILAND* UNITED ARAB EMIRATES

MSCI ACWI: The update adds an overview-style line listing the definition of free float, assignment of the Foreign Inclusion Factor, calculation of free float-adjusted market capitalization, and its use in index weights. It also repeats the section heading before the existing text. The substantive free-float estimation and classification rules are unchanged. (Editorial)

2026-10-02T00:00:00Z

The update adds an overview-style line listing the definition of free float, assignment of the Foreign Inclusion Factor, calculation of free float-adjusted market capitalization, and its use in index weights. It also repeats the section heading before the existing text. The substantive free-float estimation and classification rules are unchanged. Previous: MSCI’s estimation of free float is based solely on publicly available shareholder information. Updated: MSCI’s definition of free float Assigning a free float-adjustment factor to each security (Foreign Inclusion Factor or FIF) Calculating the free float-adjusted market capitalization of each security The free float-adjusted market capitalization is used to calculate the weights of the securities in the indexes. Defining and Estimating Free Float MSCI’s estimation of free float is based solely on publicly available shareholder information.

MSCI ACWI: The updated opening removes the previous inline list describing the free-float process, including estimating foreign-available free float, assigning the Foreign Inclusion Factor, calculating free float-adjusted market capitalization, and using it for security weights. The text retains only the introductory statement that the process involves those steps. No methodology parameter, formula, threshold, or affected-security rule is changed. (Editorial)

2026-10-02T00:00:00Z

The updated opening removes the previous inline list describing the free-float process, including estimating foreign-available free float, assigning the Foreign Inclusion Factor, calculating free float-adjusted market capitalization, and using it for security weights. The text retains only the introductory statement that the process involves those steps. No methodology parameter, formula, threshold, or affected-security rule is changed. Previous: MSCI calculates the free float-adjusted market capitalization of each security in the equity index universe. The process of free float-adjusting market capitalization involves: Defining and estimating the free float available to foreign investors for each security, using MSCI’s definition of free float Assigning a free float-adjustment factor to each security (Foreign Inclusion Factor or FIF) Calculating the free float-adjusted market capitalization of each security The free float-adjusted market capitalization is used to calculate the weights of the securities in the indexes. Updated: MSCI calculates the free float-adjusted market capitalization of each security in the equity index universe. The process of free float-adjusting market capitalization involves:

MSCI ACWI: The updated version adds the standalone heading "U.S. Executive Order 13959" before the existing appendix text. No eligibility, deletion, adjustment-factor, review, or other methodology rule is changed. (Editorial)

2026-10-02T00:00:00Z

The updated version adds the standalone heading "U.S. Executive Order 13959" before the existing appendix text. No eligibility, deletion, adjustment-factor, review, or other methodology rule is changed. Updated: U.S. Executive Order 13959

MSCI ACWI: The methodology update refreshes the example of the two-index-review lag from November 2025/May 2026 to February 2026/August 2026. It also updates the latest review-status note to state that no additional markets met the requirement at the February 2026 review, and corrects the footnote marker from “42F42” to “42.” The eligibility thresholds, two-review timing rule, and eligible-country list are unchanged. (Editorial)

2026-10-02T00:00:00Z

The methodology update refreshes the example of the two-index-review lag from November 2025/May 2026 to February 2026/August 2026. It also updates the latest review-status note to state that no additional markets met the requirement at the February 2026 review, and corrects the footnote marker from “42F42” to “42.” The eligibility thresholds, two-review timing rule, and eligible-country list are unchanged. Previous: Calculate the aggregate free float-adjusted market capitalization of all such securities This aggregate market capitalization of securities represented by foreign listings should represent at least: - 5% of the free float-adjusted market capitalization of the relevant MSCI Country IMI 42F42, and - 0.05% of the free float-adjusted market capitalization of the MSCI ACWI IMI. For example, foreign listings will become eligible for a country at the May 2026 Index Review once that country meets the Foreign Listing Materiality Requirement at the November 2025 Index Review. At the November 2025 Index Review, no additional markets met the Foreign Listing Materiality Requirement. Updated: Calculate the aggregate free float-adjusted market capitalization of all such securities This aggregate market capitalization of securities represented by foreign listings should represent at least: - 5% of the free float-adjusted market capitalization of the relevant MSCI Country IMI 42, and - 0.05% of the free float-adjusted market capitalization of the MSCI ACWI IMI. For example, foreign listings will become eligible for a country at the August 2026 Index Review once that country meets the Foreign Listing Materiality Requirement at the February 2026 Index Review. At the February 2026 Index Review, no additional markets met the Foreign Listing Materiality Requirement.

MSCI ACWI: The update removes duplicate footnote-reference artifacts (for example, “A shares38F38” becomes “A shares38”) in the Country Specific Cases section. The corresponding footnote numbers remain, and no country-classification, universe, or eligibility rule is changed. (Editorial)

2026-10-02T00:00:00Z

The update removes duplicate footnote-reference artifacts (for example, “A shares38F38” becomes “A shares38”) in the Country Specific Cases section. The corresponding footnote numbers remain, and no country-classification, universe, or eligibility rule is changed. Previous: China: The MSCI China universe includes companies incorporated in Mainland China and listed in the form of A shares38F38, CDRs or B shares on the Shanghai Stock Exchange (in US$) or Shenzhen Stock Exchange (in HK$), or H shares on the Hong Kong Stock Exchange (in HK$). However, such securities listed in the US and resulting from reverse mergers39F39 are not eligible for index inclusion. 40F40 Greece: The MSCI Greece universe includes companies incorporated in Cyprus that are listed on the Athens Exchange.41F41 Countries subject to economic sanctions: MSCI does not cover certain countries for which significant economic sanctions are applied. Updated: China: The MSCI China universe includes companies incorporated in Mainland China and listed in the form of A shares38, CDRs or B shares on the Shanghai Stock Exchange (in US$) or Shenzhen Stock Exchange (in HK$), or H shares on the Hong Kong Stock Exchange (in HK$). However, such securities listed in the US and resulting from reverse mergers39 are not eligible for index inclusion. 40 Greece: The MSCI Greece universe includes companies incorporated in Cyprus that are listed on the Athens Exchange.41 Countries subject to economic sanctions: MSCI does not cover certain countries for which significant economic sanctions are applied.

MSCI ACWI: The minimum constituent-count continuity rule itself is unchanged. The listed markets to which the rule was applied are updated from the November 2025 Index Review to the February 2026 Index Review, with Peru removed and Hungary added under Frontier Markets. (Minor)

2026-10-02T00:00:00Z

The minimum constituent-count continuity rule itself is unchanged. The listed markets to which the rule was applied are updated from the November 2025 Index Review to the February 2026 Index Review, with Peru removed and Hungary added under Frontier Markets. Previous: The following table below shows those markets where after the application of the index maintenance methodology, the Standard Index contains less than the minimum number of constituents, and hence the index continuity rules have been applied to achieve the minimum number of constituents as part of the November 2025 Index Review. Developed Markets Emerging Markets Frontier Markets New Zealand Egypt Serbia Peru Updated: The following table below shows those markets where after the application of the index maintenance methodology, the Standard Index contains less than the minimum number of constituents, and hence the index continuity rules have been applied to achieve the minimum number of constituents as part of the February 2026 Index Review. Developed Markets Emerging Markets Frontier Markets New Zealand Egypt Serbia Hungary

MSCI ACWI: The updated text adds that any annual changes to the Advanced Frontier Markets subcategory will take effect at the subsequent November Index Review. The classification criteria, annual review announcement, and statement that Frontier Markets classification and indexes are unaffected remain unchanged. (Minor)

2026-10-02T00:00:00Z

The updated text adds that any annual changes to the Advanced Frontier Markets subcategory will take effect at the subsequent November Index Review. The classification criteria, annual review announcement, and statement that Frontier Markets classification and indexes are unaffected remain unchanged. Updated: Changes, if any, will be effective at the subsequent November Index Review.

MSCI ACWI: MSCI updated the Size and Liquidity market-cap thresholds used in the Market Classification Framework. Full market-cap requirements rose from USD 205mm/3,577mm/7,153mm to USD 226mm/3,800mm/7,599mm, and float market-cap requirements rose from USD 102mm/1,788mm/3,577mm to USD 113mm/1,900mm/3,800mm for Frontier, Emerging, and Developed Markets, respectively. The changes apply to both Entry and Maintenance requirements, and the referenced minimums moved from the November 2025 Index Review to the February 2026 Index Review; ATVR and company-count requirements were unchanged. (Minor)

2026-10-02T00:00:00Z

MSCI updated the Size and Liquidity market-cap thresholds used in the Market Classification Framework. Full market-cap requirements rose from USD 205mm/3,577mm/7,153mm to USD 226mm/3,800mm/7,599mm, and float market-cap requirements rose from USD 102mm/1,788mm/3,577mm to USD 113mm/1,900mm/3,800mm for Frontier, Emerging, and Developed Markets, respectively. The changes apply to both Entry and Maintenance requirements, and the referenced minimums moved from the November 2025 Index Review to the February 2026 Index Review; ATVR and company-count requirements were unchanged. Previous: Criteria Frontier Emerging Developed A Economic Development Country GNI per capita 25% above the A.1 Sustainability of economic development No requirement No requirement World Bank high income threshold * for 3 consecutive years B Size and Liquidity Requirements B.1 Entry requirement Number of companies meeting the following Standard 1 3 5 Index criteria over each of the last 8 Index Reviews Company size (full market cap) ** USD 205 mm USD 3,577 mm USD 7,153 mm Security size (float market cap) ** USD 102 mm USD 1,788 mm USD 3,577 mm Security liquidity 2.5% ATVR 15% ATVR 20% ATVR B.2 Maintenance requirements Number of companies meeting the following Standard - 1 1 Index criteria Company size (full market cap) ** USD 205 mm USD 3,577 mm USD 7,153 mm Security size (float market cap) ** USD 102 mm USD 1,788 mm USD 3,577 mm Security liquidity 2.5% ATVR 15% ATVR 20% ATVR Minimum number of securities in the Market Investable 1 3 5 Equity Universe C Market Accessibility Criteria C.1 Openness to foreign ownership At least some Significant Very high C.2 Ease of capital inflows / outflows At least partial Significant Very high C.3 Efficiency of operational framework Modest Good and tested Very high C.4 Availability of investment instrument High High Unrestricted C.5 Stability of the institutional framework Modest Modest Very high * High income threshold: 2024 GNI per capita of USD 13,935 (World Bank, Atlas method) ** Minimum in use for the November 2025 Index Review, updated on a quarterly basis Updated: Criteria Frontier Emerging Developed A Economic Development Country GNI per capita 25% above the A.1 Sustainability of economic development No requirement No requirement World Bank high income threshold * for 3 consecutive years B Size and Liquidity Requirements B.1 Entry requirement Number of companies meeting the following Standard 1 3 5 Index criteria over each of the last 8 Index Reviews Company size (full market cap) ** USD 226 mm USD 3,800 mm USD 7,599 mm Security size (float market cap) ** USD 113 mm USD 1,900 mm USD 3,800 mm Security liquidity 2.5% ATVR 15% ATVR 20% ATVR B.2 Maintenance requirements Number of companies meeting the following Standard - 1 1 Index criteria Company size (full market cap) ** USD 226 mm USD 3,800 mm USD 7,599 mm Security size (float market cap) ** USD 113 mm USD 1,900 mm USD 3,800 mm Security liquidity 2.5% ATVR 15% ATVR 20% ATVR Minimum number of securities in the Market Investable 1 3 5 Equity Universe C Market Accessibility Criteria C.1 Openness to foreign ownership At least some Significant Very high C.2 Ease of capital inflows / outflows At least partial Significant Very high C.3 Efficiency of operational framework Modest Good and tested Very high C.4 Availability of investment instrument High High Unrestricted C.5 Stability of the institutional framework Modest Modest Very high * High income threshold: 2024 GNI per capita of USD 13,935 (World Bank, Atlas method) ** Minimum in use for the February 2026 Index Review, updated on a quarterly basis

MSCI ACWI: The methodology book's "last updated" date changes from November 2025 to February 2026. A document footer identifying the methodology as "MSCI Global Investable Market Indexes Methodology | November 2025" is also added. No index construction, maintenance, or calculation rule is changed. (Editorial)

2026-10-02T00:00:00Z

The methodology book's "last updated" date changes from November 2025 to February 2026. A document footer identifying the methodology as "MSCI Global Investable Market Indexes Methodology | November 2025" is also added. No index construction, maintenance, or calculation rule is changed. Previous: This book was last updated in November 2025. Updated: This book was last updated in February 2026. MSCI Global Investable Market Indexes Methodology | November 2025

MSCI ACWI: The provision was restructured to state that securities entering the specified Indian, Indonesian, Korean, or Taiwanese boards during the review window are assessed under all relevant review criteria, but qualifying IMI additions and Standard/Small Cap migrations are still not implemented. The affected boards, observation period, deferred movements, and re-evaluation in the subsequent review remain unchanged. (Editorial)

2026-10-02T00:00:00Z

The provision was restructured to state that securities entering the specified Indian, Indonesian, Korean, or Taiwanese boards during the review window are assessed under all relevant review criteria, but qualifying IMI additions and Standard/Small Cap migrations are still not implemented. The affected boards, observation period, deferred movements, and re-evaluation in the subsequent review remain unchanged. Previous: During Index Reviews, starting from the previous Index Review Price Cutoff Date (as defined in section 3.1.9) until three business days before the current Index Review effective date, MSCI will not implement any additions to IMI and size-segment migrations between Standard and Small Cap for securities that enter the following boards: India Short Term and Long Term Additional Surveillance Measure (ASM) Indonesia Watchlist Board due to Criteria 10 Korea Investment Alert Issue and Investment Risk Issue Taiwan Disposition Board Such securities will be re-evaluated for inclusion or size-segment migration in the subsequent Index Review. Updated: During Index Reviews, securities that enter any of the following boards during the period starting from the previous Index Review Price Cutoff Date (as defined in section 3.1.9) until three business days before the current Index Review effective date are subject to the following treatment: India Short Term and Long Term Additional Surveillance Measure (ASM) Indonesia Watchlist Board due to Criteria 10 Korea Investment Alert Issue and Investment Risk Issue Taiwan Disposition Board In such cases, after the application of all the relevant index review criteria including investability screens and size segmentation determination, MSCI will not implement the following index movement for those securities: additions to IMI and size-segment migrations between the Standard and Small Cap Indexes Such securities will be re-evaluated for inclusion or size-segment migration in the subsequent Index Review.

MSCI ACWI: The updated ineligible alert-board table removes Singapore Exchange's Watch List. Consequently, securities on that board are no longer identified by this section as ineligible for the MSCI Equity Universe. Other visible differences are table ordering/formatting and the Sri Lanka board label being shown as "Watch List Board/Second Board." (Minor)

2026-10-02T00:00:00Z

The updated ineligible alert-board table removes Singapore Exchange's Watch List. Consequently, securities on that board are no longer identified by this section as ineligible for the MSCI Equity Universe. Other visible differences are table ordering/formatting and the Sri Lanka board label being shown as "Watch List Board/Second Board." Previous: Country Name Stock Exchange Alert Board Developed Markets Denmark Nasdaq Copenhagen Observation Status (1) Finland Nasdaq Helsinki Observation Status (1) Sweden Nasdaq Stockholm Observation Status (1) Singapore Singapore Exchange Watch List Securities Under Supervision & Japan Tokyo Stock Exchange Securities to Be Delisted (2) Emerging Markets China Shanghai Stock Exchange Special Treatment (ST / *ST) Shenzhen Stock Exchange Greece Athens Stock Exchange Under Surveillance Special Segment (4) Mumbai Stock Exchange Z Group Graded Surveillance Measure (4) Enhanced Surveillance Measure (6) India Insolvency Resolution Process (6) National Stock Exchange Graded Surveillance Measure (4) Enhanced Surveillance Measure (6) Insolvency Resolution Process (6) Indonesia Indonesia Stock Exchange Watch List Board (3) Korea Korea Exchange Administrative Issues Malaysia Bursa Malaysia PN17 Companies Taiwan Stock Exchange Taiwan Altered Trading Method (ATM) Taipei Stock Exchange Thailand Stock Exchange of Thailand Possible Delisting Companies Turkey Borsa Istanbul Watch List Companies Frontier Markets Estonia Nasdaq Tallinn Observation Status (1) Iceland Nasdaq Iceland Observation Status (1) Country Name Stock Exchange Alert Board Latvia Nasdaq Riga Observation Status (1) Lithuania Nasdaq Vilnius Observation Status (1) Pakistan Pakistan Stock Exchange Defaulter’s Segment (5) Watch List Board Sri Lanka Colombo Stock Exchange Second Board Vietnam Ho Chi Minh Stock Exchange CK is Subject to Control Updated: Country Name Stock Exchange Alert Board Developed Markets Denmark Nasdaq Copenhagen Observation Status (1) Finland Nasdaq Helsinki Observation Status (1) Sweden Nasdaq Stockholm Observation Status (1) Securities Under Supervision & Japan Tokyo Stock Exchange Securities to Be Delisted (2) Emerging Markets Shanghai Stock Exchange China Special Treatment (ST / *ST) Shenzhen Stock Exchange Greece Athens Stock Exchange Under Surveillance Special Segment (4) Mumbai Stock Exchange Z Group Graded Surveillance Measure (4) Enhanced Surveillance Measure (6) India Insolvency Resolution Process (6) National Stock Exchange Graded Surveillance Measure (4) Enhanced Surveillance Measure (6) Insolvency Resolution Process (6) Indonesia Indonesia Stock Exchange Watch List Board (3) Korea Korea Exchange Administrative Issues Malaysia Bursa Malaysia PN17 Companies Taiw an Stock Exchange Taiwan Altered Trading Method (ATM) Taipei Stock Exchange Thailand Stock Exchange of Thailand Possible Delisting Companies Turkey Borsa Istanbul Watch List Companies Frontier Markets Estonia Nasdaq Tallinn Observation Status (1) Iceland Nasdaq Iceland Observation Status (1) Country Name Stock Exchange Alert Board Latvia Nasdaq Riga Observation Status (1) Lithuania Nasdaq Vilnius Observation Status (1) Pakistan Pakistan Stock Exchange Defaulter’s Segment (5) Sri Lanka Colombo Stock Exchange Watch List Board/Second Board Vietnam Ho Chi Minh Stock Exchange CK is Subject to Control

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Country Name Stock Exchange Market Segment Eligibility of Foreign Listings ARGENTINA (10) Yes Free Market Banja Luka Stock Exchange Official Market BOSNIA HERZEGOVINA (1) - Free Market Sarajevo Stock Exchange Official Market Domestic Main Board BOTSWANA (2) Botswana Stock Exchange Yes Venture Capital Board BULGARIA (7) Bulgarian Stock Exchange Main Market - Main Market JAMAICA (2) Jamaica Stock Exchange Junior Market - Premium Board PALESTINE (3) Palestine Exchange - - PANAMA (8) Yes First Tier TRINIDAD AND TOBAGO (4) Trinidad and Tobago Stock Exchange Second Tier - Small and Medium Enterprises (12) PFTS Stock Exchange - UKRAINE (6) Yes Ukrainian Exchange - ZIMBABWE (5) Zimbabwe Stock Exchange (Harare) - - (1) Added as standalone market at the May 2010 Index Review (2) Added as standalone markets at the November 2008 Index Review (3) Added as standalone market at the May 2013 Index Review (4) Reclassified from Frontier Markets to standalone market at the May 2011 Index Review (5) Added as standalone markets at the November 2010 Index Review (6) Reclassified from Frontier Markets to standalone market at the August 2015 Index Review (7) Reclassified from Frontier Markets to standalone market at the August 2016 Index Review (8) Added as standalone market at the May 2017 Index Review, currently only US listed securities eligible (9) Added as standalone market at the May 2019 Index Review (10) Reclassified from Emerging Markets to standalone market at the November 2021 Index Review (11) Reclassified from Frontier Markets to standalone market at the February 2024 Index Review (12) Listings on this market segment are eligible for the MSCI Indexes as part of the August 2024 Index Review Updated: Country Name Stock Exchange Market Segment Eligibility of Foreign Listings ARGENTINA (10) Yes Free Market Banja Luka Stock Exchange Official Market BOSNIA HERZEGOVINA (1) - Free Market Sarajevo Stock Exchange Official Market Domestic Main Board BOTSWANA (2) Botswana Stock Exchange Yes Venture Capital Board BULGARIA (7) Bulgarian Stock Exchange Main Market - Main Market JAMAICA (2) Jamaica Stock Exchange Junior Market - Premium Board PALESTINE (3) Palestine Exchange - - PANAMA (8) Yes First Tier TRINIDAD AND TOBAGO (4) Trinidad and Tobago Stock Exchange - Second Tier Small and Medium Enterprises (12) PFTS Stock Exchange - UKRAINE (6) Yes Ukrainian Exchange - ZIMBABWE (5) Zimbabwe Stock Exchange (Harare) - - (1) Added as standalone market at the May 2010 Index Review (2) Added as standalone markets at the November 2008 Index Review (3) Added as standalone market at the May 2013 Index Review (4) Reclassified from Frontier Markets to standalone market at the May 2011 Index Review (5) Added as standalone markets at the November 2010 Index Review (6) Reclassified from Frontier Markets to standalone market at the August 2015 Index Review (7) Reclassified from Frontier Markets to standalone market at the August 2016 Index Review (8) Added as standalone market at the May 2017 Index Review, currently only US listed securities eligible (9) Added as standalone market at the May 2019 Index Review (10) Reclassified from Emerging Markets to standalone market at the November 2021 Index Review (11) Reclassified from Frontier Markets to standalone market at the February 2024 Index Review (12) Listings on this market segment are eligible for the MSCI Indexes as part of the August 2024 Index Review

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: Country Name Stock Exchange Market Segment Eligibility of Foreign Listings AUSTRALIA Australian Securities Exchange ASX Official Market - Prime Market AUSTRIA Vienna Stock Exchange - Standard Market Continuous Euronext Growth Market BELGIUM Euronext Brussels - Regulated Market Toronto Stock Exchange - CANADA - Cboe Canada (2) NEO-L Nasdaq Copenhagen Main Market DENMARK First North Growth Market - Nasdaq First North Growth Market – Denmark First North Premier Growth Market Nasdaq Helsinki Main Market FINLAND - First North Growth Market Nasdaq First North Growth Market – Finland First North Premier Growth Market Euronext Growth Market FRANCE Euronext Paris - Regulated Market Basic Board GERMANY Deutsche Börse Xetra EU Regulated market - Open Market Growth Enterprise Market HONG KONG Stock Exchange of Hong Kong Yes Main Board (3) Euronext Growth Market IRELAND Euronext Dublin - Regulated Market ISRAEL Tel Aviv Stock Exchange - Yes Euronext Growth Market Global Equity Market (1) ITALY Borsa Italiana - Regulated Market Market for Investment Vehicle (2) Growth Market Prime Market Tokyo Stock Exchange Standard Market JAPAN - Tokyo Pro (2) Main Market Nagoya Stock Exchange Next Market Premier Market NETHERLANDS Euronext Amsterdam Regulated Market Yes NEW ZEALAND New Zealand Stock Exchange Main Board - Euronext Expand NORWAY Euronext Oslo Børs Euronext Growth Market (2) - Regulated Market PORTUGAL Euronext Lisbon Regulated Market - Catalist SINGAPORE Singapore Exchange Yes Main Board Madrid Stock Exchange Mercado Continuo SPAIN Growth Companies - BME Growth SOCIMI Nasdaq Stockholm Main Market Nordic Growth Market Main Regulated Market Nordic SME SWEDEN (5) Yes First North Growth Market Nasdaq First North Growth Market – Sweden First North Premier Growth Market Spotlight Stock Exchange - Blue Chip Shares Mid-/Small-Cap Shares SIX Swiss Exchange Secondary Listing Shares SWITZERLAND Sparks Shares - Sponsored Foreign Shares (1) SME Main Market BX Swiss Sponsored Shares Admission Updated: Country Name Stock Exchange Market Segment Eligibility of Foreign Listings AUSTRALIA Australian Securities Exchange ASX Official Market - Prime Market AUSTRIA Vienna Stock Exchange - Standard Market Continuous Euronext Growth Market BELGIUM Euronext Brussels - Regulated Market Toronto Stock Exchange - CANADA - Cboe Canada (2) NEO-L Nasdaq Copenhagen Main Market DENMARK First North Growth Market - Nasdaq First North Growth Market – Denmark First North Premier Growth Market Nasdaq Helsinki Main Market FINLAND First North Growth Market - Nasdaq First North Growth Market – Finland First North Premier Growth Market Euronext Growth Market FRANCE Euronext Paris - Regulated Market Basic Board GERMANY Deutsche Börse Xetra - EU Regulated market Open Market Growth Enterprise Market HONG KONG Stock Exchange of Hong Kong Yes Main Board (3) Euronext Growth Market IRELAND Euronext Dublin - Regulated Market ISRAEL Tel Aviv Stock Exchange - Yes Euronext Growth Market Global Equity Market (1) ITALY Borsa Italiana - Regulated Market Market for Investment Vehicle (2) Growth Market Prime Market Tokyo Stock Exchange Standard Market JAPAN Tokyo Pro (2) - Main Market Nagoya Stock Exchange Next Market Premier Market NETHERLANDS Euronext Amsterdam Regulated Market Yes NEW ZEALAND New Zealand Stock Exchange Main Board - Euronext Expand NORWAY Euronext Oslo Børs Euronext Growth Market (2) - Regulated Market PORTUGAL Euronext Lisbon Regulated Market - Catalist SINGAPORE Singapore Exchange Yes Main Board Madrid Stock Exchange Mercado Continuo SPAIN Growth Companies - BME Growth SOCIMI Nasdaq Stockholm Main Market Nordic Growth Market Main Regulated Market Nordic SME SWEDEN (5) Yes First North Growth Market Nasdaq First North Growth Market – Sweden First North Premier Growth Market Spotlight Stock Exchange - Blue Chip Shares Mid-/Small-Cap Shares SIX Swiss Exchange Secondary Listing Shares SWITZERLAND Sparks Shares - Sponsored Foreign Shares (1) SME Main Market BX Swiss Sponsored Shares Admission

MSCI ACWI: The updated section contains only the word "Indexes," while the previous section text is empty. No index rule, threshold, security set, or procedural requirement is added, removed, or modified. (Editorial)

2026-10-02T00:00:00Z

The updated section contains only the word "Indexes," while the previous section text is empty. No index rule, threshold, security set, or procedural requirement is added, removed, or modified. Updated: Indexes

MSCI ACWI: The update changes only formatting in the minimum-liquidity section: "12‐month ATVR" is rendered with an extra space as "12‐ month ATVR," and footnote/reference markers around the listing-priority rules are cleaned up. No liquidity thresholds, eligibility conditions, listing priorities, or index treatment rules are changed. (Editorial)

2026-10-02T00:00:00Z

The update changes only formatting in the minimum-liquidity section: "12‐month ATVR" is rendered with an extra space as "12‐ month ATVR," and footnote/reference markers around the listing-priority rules are cleaned up. No liquidity thresholds, eligibility conditions, listing priorities, or index treatment rules are changed. Previous: During Index Reviews, existing constituents of the IMI in average and low liquidity markets may remain in a Market Investable Universe if their 12‐month ATVR stays above 2/3rd of the minimum level requirement of 15% for average liquidity markets and 5% for low liquidity markets. Existing constituents of the IMI in very low liquidity markets may remain in a Market Investable Universe if their 12‐month ATVR stays above 1%. If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing35F35 Foreign listing in the same geographical region 36F36 Foreign listing in a different geographical region 37F37. Updated: During Index Reviews, existing constituents of the IMI in average and low liquidity markets may remain in a Market Investable Universe if their 12‐ month ATVR stays above 2/3rd of the minimum level requirement of 15% for average liquidity markets and 5% for low liquidity markets. Existing constituents of the IMI in very low liquidity markets may remain in a Market Investable Universe if their 12‐ month ATVR stays above 1%. If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing35 Foreign listing in the same geographical region36 Foreign listing in a different geographical region37.

MSCI ACWI: The updated text inserts a space in the phrase "12‐ month ATVR." The 2.5%, 5%, and 15% minimum ATVR levels and all other Frontier Markets liquidity categorization rules remain unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated text inserts a space in the phrase "12‐ month ATVR." The 2.5%, 5%, and 15% minimum ATVR levels and all other Frontier Markets liquidity categorization rules remain unchanged. Previous: The corresponding minimum liquidity requirement levels are set at 2.5%, 5% or 15% 12‐month ATVR, respectively. Updated: The corresponding minimum liquidity requirement levels are set at 2.5%, 5% or 15% 12‐ month ATVR, respectively.

MSCI ACWI: The updated text adds the words "Markets Indexes" immediately before the opening sentence of the section. No index construction, eligibility, selection, weighting, or maintenance rule is changed. (Editorial)

2026-10-02T00:00:00Z

The updated text adds the words "Markets Indexes" immediately before the opening sentence of the section. No index construction, eligibility, selection, weighting, or maintenance rule is changed. Previous: This section should be read in conjunction with the earlier Section 2 ‘Constructing the MSCI Global Investable Market Indexes’ and Section 3 ‘Maintaining the MSCI Global Investable Market Indexes’. Updated: Markets Indexes This section should be read in conjunction with the earlier Section 2 ‘Constructing the MSCI Global Investable Market Indexes’ and Section 3 ‘Maintaining the MSCI Global Investable Market Indexes’.

MSCI ACWI: The text of the frontier markets definition is unchanged. The only edit is a typographical correction to the footnote reference, changing “universe 34F34” to “universe34.” (Editorial)

2026-10-02T00:00:00Z

The text of the frontier markets definition is unchanged. The only edit is a typographical correction to the footnote reference, changing “universe 34F34” to “universe34.” Previous: MSCI starts by considering all equity markets not included in the MSCI Emerging Markets Index, that: demonstrate a relative openness to and accessibility for foreign investors are generally not considered as part of the developed markets universe 34F34 do not belong to countries undergoing a period of extreme economic (e.g., hyperinflation) or political instability (e.g., civil war) Updated: MSCI starts by considering all equity markets not included in the MSCI Emerging Markets Index, that: demonstrate a relative openness to and accessibility for foreign investors are generally not considered as part of the developed markets universe34 do not belong to countries undergoing a period of extreme economic (e.g., hyperinflation) or political instability (e.g., civil war)

MSCI ACWI: The updated version adds front-matter title text identifying the document as the MSCI Global Investable Market Indexes Methodology, dated November 2025. No index construction, eligibility, weighting, review, calculation, or governance rule is added or changed. (Editorial)

2026-10-02T00:00:00Z

The updated version adds front-matter title text identifying the document as the MSCI Global Investable Market Indexes Methodology, dated November 2025. No index construction, eligibility, weighting, review, calculation, or governance rule is added or changed. Updated: Index Methodology MSCI Global Investable Market Indexes Methodology Index Construction Objectives, Guiding Principles and Methodology for the MSCI Global Investable Market Indexes MSCI Global Investable Market Indexes Methodology | November 2025

MSCI ACWI: The Micro Cap minimum liquidity requirement now adds an eligibility exclusion: if a security’s latest 3-month ATVR is not calculated because of suspensions, non-constituents of the MSCI All Cap Indexes cannot be added to the MSCI Micro Cap Indexes. The existing 12-month ATVR and frequency-of-trading thresholds are unchanged. (Minor)

2026-10-02T00:00:00Z

The Micro Cap minimum liquidity requirement now adds an eligibility exclusion: if a security’s latest 3-month ATVR is not calculated because of suspensions, non-constituents of the MSCI All Cap Indexes cannot be added to the MSCI Micro Cap Indexes. The existing 12-month ATVR and frequency-of-trading thresholds are unchanged. Updated: In cases where the latest 3-month ATVR is not calculated due to suspensions, non-constituents of the MSCI All Cap Indexes are not eligible for the MSCI Micro Cap Indexes.

MSCI ACWI: The updated text removes footnote 33, which set a special minimum float-adjusted market capitalization requirement when a Standard Index constituent had a post-event FIF below 0.15. The surrounding sentence is rejoined to read “MSCI Global Investable Market Indexes,” and no replacement threshold appears in the provided updated passage. (Major)

2026-10-02T00:00:00Z

The updated text removes footnote 33, which set a special minimum float-adjusted market capitalization requirement when a Standard Index constituent had a post-event FIF below 0.15. The surrounding sentence is rejoined to read “MSCI Global Investable Market Indexes,” and no replacement threshold appears in the provided updated passage. Previous: When there is a corporate event affecting index constituents, non-index constituents that are involved in the event are considered for immediate inclusion in the MSCI Global Investable 33 If the Standard Index constituent has a FIF lower than 0.15 after the event, the minimum float-adjusted market capitalization requirement is 2/3rd of the 1.8 times one half of the Standard Index Interim Size-Segment Cutoff. Market Indexes, as long as they meet all the index constituent eligibility rules and guidelines described in Sub-sections 2.2 and 2.4 with the exception of the length of trading and liquidity screens and minimum foreign room requirement. Updated: When there is a corporate event affecting index constituents, non-index constituents that are involved in the event are considered for immediate inclusion in the MSCI Global Investable Market Indexes, as long as they meet all the index constituent eligibility rules and guidelines described in Sub-sections 2.2 and 2.4 with the exception of the length of trading and liquidity screens and minimum foreign room requirement.

MSCI ACWI: The update adds a new minimum float-adjusted market capitalization requirement for Standard Index constituents whose FIF is below 0.15 after a corporate event. The requirement is expressed as 2/3rd of 1.8 times one half of the Standard Index Interim Size-Segment Cutoff. No explicit effective date is stated. (Major)

2026-10-02T00:00:00Z

The update adds a new minimum float-adjusted market capitalization requirement for Standard Index constituents whose FIF is below 0.15 after a corporate event. The requirement is expressed as 2/3rd of 1.8 times one half of the Standard Index Interim Size-Segment Cutoff. No explicit effective date is stated. Updated: 33 If the Standard Index constituent has a FIF lower than 0.15 after the event, the minimum float-adjusted market capitalization requirement is 2/3rd of the 1.8 times one half of the Standard Index Interim Size-Segment Cutoff.

MSCI ACWI: The update adds a “Corporate Event” label at the start of the section and merges two adjacent sentences concerning post-event size-segment determination and deletion. The size-segment table and footnotes are reflowed, but the 50% increase and 33% decrease significance thresholds and the stated size-segment criteria are unchanged. (Editorial)

2026-10-02T00:00:00Z

The update adds a “Corporate Event” label at the start of the section and merges two adjacent sentences concerning post-event size-segment determination and deletion. The size-segment table and footnotes are reflowed, but the 50% increase and 33% decrease significance thresholds and the stated size-segment criteria are unchanged. Previous: In order to reflect significant changes in the market capitalization of existing constituents in the Global Investable Market Indexes and in the World All Cap Indexes in a timely fashion while minimizing index turnover, the Size-Segment classification of a security is reviewed simultaneously with the event, if the market capitalization change implied by the event, including potential update in the number of shares for the security, is deemed significant. The post-event Size-Segment of the security, following a significant corporate event, is determined based on the rules outlined in the table below. Security is deleted from MSCI Indexes if it fails to meet any of the criteria outlined below. > 0.15 > 0.5* Standard Cutoff > 1.5*Standard Cutoff Standard < 0.15 >1.8 * 0.5 * Standard Cutoff > 0.15 > 0.5* Standard Cutoff Standard < 1.5*Standard Cutoff & Small Cap > 0.15 < 0.5* Standard Cutoff Small Cap > Standard Cutoff 31Interim Size-Segment cut off are used at the time of the event. 32 Securities added to Standard Indexes are added to Large Cap or Mid Cap segment based on Company Full Market Capitalization. Updated: Corporate Event In order to reflect significant changes in the market capitalization of existing constituents in the Global Investable Market Indexes and in the World All Cap Indexes in a timely fashion while minimizing index turnover, the Size-Segment classification of a security is reviewed simultaneously with the event, if the market capitalization change implied by the event, including potential update in the number of shares for the security, is deemed significant. The post-event Size-Segment of the security, following a significant corporate event, is determined based on the rules outlined in the table below. Security is deleted from MSCI Indexes if it fails to meet any of the criteria outlined below. > 0.15 > 0.5* Standard Cutoff > 1.5*Standard Cutoff Standard < 0.15 >1.8 * 0.5 * Standard Cutoff Small Cap > 0.15 > 0.5* Standard Cutoff Standard < 1.5*Standard Cutoff & > Standard Cutoff > 0.15 < 0.5* Standard Cutoff Small Cap 31Interim Size-Segment cut off are used at the time of the event. 32 Securities added to Standard Indexes are added to Large Cap or Mid Cap segment based on Company Full Market Capitalization.

MSCI ACWI: The updated text inserts footnote/reference number 30, "As described in section 3.2.7," into the sentence concerning subsequent public disclosure of post-event shareholder structures. No index rule, threshold, timing, or security treatment is changed. (Editorial)

2026-10-02T00:00:00Z

The updated text inserts footnote/reference number 30, "As described in section 3.2.7," into the sentence concerning subsequent public disclosure of post-event shareholder structures. No index rule, threshold, timing, or security treatment is changed. Previous: When subsequent public disclosure is made by the company regarding the new shareholder structure following the event implementation resulting in a different estimate than that calculated at the time of the event, MSCI will update the Number of Shares, and/or FIFs at the following regularly scheduled Index Review in accordance with section 3.1.7 or 3.1.8 of the MSCI Global Investable Market Indexes Methodology. Updated: When subsequent public 30 As described in section 3.2.7 disclosure is made by the company regarding the new shareholder structure following the event implementation resulting in a different estimate than that calculated at the time of the event, MSCI will update the Number of Shares, and/or FIFs at the following regularly scheduled Index Review in accordance with section 3.1.7 or 3.1.8 of the MSCI Global Investable Market Indexes Methodology.

MSCI ACWI: The methodology for setting Interim Market Size-Segment Cutoffs is unchanged. The update corrects the malformed footnote reference "IPOs30F30" to "IPOs30," removes the footnote cross-reference phrase "As described in section 3.2.4.1," and reformats the surrounding text and bullet points. (Editorial)

2026-10-02T00:00:00Z

The methodology for setting Interim Market Size-Segment Cutoffs is unchanged. The update corrects the malformed footnote reference "IPOs30F30" to "IPOs30," removes the footnote cross-reference phrase "As described in section 3.2.4.1," and reformats the surrounding text and bullet points. Previous: For the purpose of determining eligibility for early inclusion of securities, such as significant IPOs30F30, and/or assigning a company and its securities post a corporate event, e.g., mergers and spin-offs, to the appropriate Size-Segment Index an Interim Size-Segment Cutoff is used. To derive this number the following steps are followed: 30 As described in section 3.2.4.1 The Global Minimum Size References and Global Minimum Size Ranges of the Large Cap, the Standard, and the Investable Market Indexes are updated daily as described in Appendix X: Updating the Global Minimum Size References and Ranges. The Interim Market Size-Segment Cutoff is set to: - The lower bound of the Global Minimum Size Range, if the Market Size-Segment Cutoff is below the lower bound. - The upper bound of the Global Minimum Size Range, if the Market Size-Segment Cutoff is above the upper bound. - The Market Size-Segment Cutoff, if it is within the Global Minimum Size Range. The daily values for the Market Size-Segment Cutoffs, the Segment Number of Companies and the Global Minimum Size Range are based on data from the previous trading day. Updated: For the purpose of determining eligibility for early inclusion of securities, such as significant IPOs30, and/or assigning a company and its securities post a corporate event, e.g., mergers and spin-offs, to the appropriate Size-Segment Index an Interim Size-Segment Cutoff is used. To derive this number the following steps are followed: The Global Minimum Size References and Global Minimum Size Ranges of the Large Cap, the Standard, and the Investable Market Indexes are updated daily as described in Appendix X: Updating the Global Minimum Size References and Ranges. The Interim Market Size-Segment Cutoff is set to: - The lower bound of the Global Minimum Size Range, if the Market Size-Segment Cutoff is below the lower bound. - The upper bound of the Global Minimum Size Range, if the Market Size-Segment Cutoff is above the upper - bound. The Market Size-Segment Cutoff, if it is within the Global Minimum Size Range. The daily values for the Market Size-Segment Cutoffs, the Segment Number of Companies and the Global Minimum Size Range are based on data from the previous trading day.

MSCI ACWI: The update reflows Section 3.1.9 and changes the display of footnote anchors, while relocating footnote text around the price-cutoff list and market-capitalization formula. The cutoff schedules, relevant data uses, 80% business-day definition, market-cap formula, and implementation timing remain unchanged. (Editorial)

2026-10-02T00:00:00Z

The update reflows Section 3.1.9 and changes the display of footnote anchors, while relocating footnote text around the price-cutoff list and market-capitalization formula. The cutoff schedules, relevant data uses, 80% business-day definition, market-cap formula, and implementation timing remain unchanged. Previous: This is the relevant cutoff date for: - Data used to update the Equity Universe as per Sub-section 2.1: Defining the Equity Universe; - Data used for calculating the updated Equity Universe Minimum Size Requirement as per Sub-section 3.1.2.2: Updating the Equity Universe Minimum Size Requirement; Price Cutoff Date: any one of the last 10 business days28F28 of January for the February Index Review, of April for the May Index Review, of July for the August Index Review and of October for the November Index Review. 28 If the effective date of the Index Review is within the announcement month, in such scenario Price Cutoff Date would also prepone accordingly by the same number of business days. For example, if the effective date of the November 2024 Index Review is November 26, 2024, the price cutoff date will be any one of the 10 business days from October 15, 2024 to October 28, 2024. 28Global holidays such as Thanksgiving, Good Friday and Easter Monday will be considered non-business days when determining price cut-off dates. - Prices used for calculating market capitalization; - Data used to update FIFs as per Sub-section 3.1.7: Index Review of changes in Foreign Inclusion Factors (FIFs); - Data used to incorporate all foreign room changes. - Data used to update NOS as per Sub-section 3.1.8: Index Review of changes in Number of Shares (NOS). A business day is defined as a day from Monday to Friday where markets cumulatively constituting more than 80% of the MSCI All Countries World Index free float-adjusted market capitalization are expected to be open on the basis of a security’s country of listing29F29. Unlisted 29 Currently, only Stock Connect eligible China A shares are included in the MSCI GIMI. Therefore, the China A share market will only be considered open if the Shanghai Stock Exchange, the Shenzhen Stock Exchange and the Stock Connect program are open. securities with no economic rights are not included in the computation of full company level market capit Updated: This is the relevant cutoff date for: - Data used to update the Equity Universe as per Sub-section 2.1: Defining the Equity Universe; - Data used for calculating the updated Equity Universe Minimum Size Requirement as per Sub-section 3.1.2.2: Updating the Equity Universe Minimum Size Requirement; Price Cutoff Date: any one of the last 10 business days28 of January for the February Index Review, of April for the May Index Review, of July for the August Index Review and of October for the November Index Review. 28 If the effective date of the Index Review is within the announcement month, in such scenario Price Cutoff Date would also prepone accordingly by the same number of business days. For example, if the effective date of the November 2024 Index - Prices used for calculating market capitalization; - - Data used to update FIFs as per Sub-section 3.1.7: Index Review of changes in Foreign Inclusion Factors (FIFs); Data used to incorporate all foreign room changes. - Data used to update NOS as per Sub-section 3.1.8: Index Review of changes in Number of Shares (NOS). A business day is defined as a day from Monday to Friday where markets cumulatively constituting more than 80% of the MSCI All Countries World Index free float-adjusted market capitalization are expected to be open on the basis of a security’s country of listing 29. Review is November 26, 2024, the price cutoff date will be any one of the 10 business days from October 15, 2024 to October 28, 2024. 28Global holidays such as Thanksgiving, Good Friday and Easter Monday will be considered non-business days when determining price cut-off dates. 29 Currently, only Stock Connect eligible China A shares are included in the MSCI GIMI. Therefore, the China A share market will only be considered open if the Shanghai Stock Exchange, the Shenzhen Stock Exchange and the Stock Connect program are open. Unlisted securities with no economic rights are not included in the computation of full company level market capitaliza

MSCI ACWI: The 12-month waiting period for increasing a foreign-room adjustment factor or re-adding a previously deleted security is now measured from the effective date of the weight reduction or deletion. A new May 2026 example states that the prior action must have been effective on or before the May 2025 Index Review. Other differences are line-wrap and footnote-marker formatting corrections. (Major)

2026-10-02T00:00:00Z

The 12-month waiting period for increasing a foreign-room adjustment factor or re-adding a previously deleted security is now measured from the effective date of the weight reduction or deletion. A new May 2026 example states that the prior action must have been effective on or before the May 2025 Index Review. Other differences are line-wrap and footnote-marker formatting corrections. Previous: foreign room >= 15% <= foreign 7.5% <= foreign 3.75% <= foreign foreign room 25% room < 25% room < 15% room < 7.5% <3.75% Current adjustment factor = 1 1 1 0.25 0 If the foreign room of an existing constituent decreases below 3.75%, then the adjustment factor equals 0.25F25 In order to preserve index continuity, conformity with the minimum free float-adjusted market capitalization requirements for existing IMI Index constituents will be assessed using the free float-adjusted market capitalization before the application of the adjustment factor26F26. Generally, an upward movement of the adjustment factor for existing constituents following a previous reduction in foreign room or index re-inclusion of a security deleted as a result of having a foreign room lower than 3.75% will only be considered 12 months after the weight reduction or deletion; unless the upward movement of the adjustment factor is primarily driven by a change in FOL and provided that the increase in FOL27F27 happened prior to the Price Cutoff Date of the previous Index Review described in Section 3.1.9. Updated: foreign room >= 15% <= foreign 7.5% <= foreign 3.75% <= foreign foreign room 25% room < 25% room < 15% room < 7.5% <3.75% Current adjustment factor = 1 1 1 0.25 0 If the foreign room of an existing constituent decreases below 3.75%, then the adjustment factor equals 0.25 In order to preserve index continuity, conformity with the minimum free float-adjusted market capitalization requirements for existing IMI Index constituents will be assessed using the free float-adjusted market capitalization before the application of the adjustment factor26. Generally, an upward movement of the adjustment factor for existing constituents following a previous reduction in foreign room or index re-inclusion of a security deleted as a result of having a foreign room lower than 3.75% will only be considered 12 months from the effective date of the weight reduction or deletion. For example, to be considered for the May 2026 Index Review, the weight reduction or deletion should have been effective on or before the May 2025 Index Review); unless the upward movement of the adjustment factor is primarily driven by a change in FOL and provided that the increase in FOL27 happened prior to the Price Cutoff Date of the previous Index Review described in Section 3.1.9.

MSCI ACWI: The update adds the word “Indexes” before the opening sentence and corrects a malformed footnote reference from “24F24” to “24”. The buffer-zone boundaries, small-cap entry treatment, and light-rebalancing rules are unchanged. (Editorial)

2026-10-02T00:00:00Z

The update adds the word “Indexes” before the opening sentence and corrects a malformed footnote reference from “24F24” to “24”. The buffer-zone boundaries, small-cap entry treatment, and light-rebalancing rules are unchanged. Previous: In order to better reflect the investment processes of size managers, allow for timely representation of market developments when securities move far away from size-segment The buffer zones at Index Reviews are defined with boundaries of 2/3rd of and 1.5 times the Market Size-Segment Cutoff between two size-segments24F24. Updated: Indexes In order to better reflect the investment processes of size managers, allow for timely representation of market developments when securities move far away from size-segment The buffer zones at Index Reviews are defined with boundaries of 2/3rd of and 1.5 times the Market Size-Segment Cutoff between two size-segments24.

MSCI ACWI: The text changes the upper buffer threshold reference from "23F23" to "23" and adds a line break within the word sequence "Final Size-Segment Investability Requirement." The priority rules for assigning companies to size-segments are otherwise unchanged. (Editorial)

2026-10-02T00:00:00Z

The text changes the upper buffer threshold reference from "23F23" to "23" and adds a line break within the word sequence "Final Size-Segment Investability Requirement." The priority rules for assigning companies to size-segments are otherwise unchanged. Previous: Companies greater than the upper buffer threshold 23F23 of the lower Size-Segment that are: - Currently in the lower Size-Segment Index or - Assigned to this Size-Segment during last Index Review and failed the Final Size-Segment Investability Requirement or - Investable companies during last Index Review that were not assigned to any Size-Segment. Updated: Companies greater than the upper buffer threshold 23 of the lower Size-Segment that are: - Currently in the lower Size-Segment Index or - Assigned to this Size-Segment during last Index Review and failed the Final Size-Segment Investability Requirement or - Investable companies during last Index Review that were not assigned to any Size-Segment.

MSCI ACWI: The listed M1 section is marked as removed in the updated version, but the provided previous text contains no substantive rule language and the unified diff is empty. Therefore, no identifiable index rule, threshold, or methodology change can be established from the supplied text. (Editorial)

2026-10-02T00:00:00Z

The listed M1 section is marked as removed in the updated version, but the provided previous text contains no substantive rule language and the unified diff is empty. Therefore, no identifiable index rule, threshold, or methodology change can be established from the supplied text.

MSCI ACWI: The updated section only reformats the existing segment-number adjustment procedure: lines are rewrapped and footnote markers are changed from compact forms such as "21F21" and "22F22" to spaced "21" and "22". No addition, deletion, threshold, percentage, condition, or security-selection rule was changed. (Editorial)

2026-10-02T00:00:00Z

The updated section only reformats the existing segment-number adjustment procedure: lines are rewrapped and footnote markers are changed from compact forms such as "21F21" and "22F22" to spaced "21" and "22". No addition, deletion, threshold, percentage, condition, or security-selection rule was changed. Previous: The process for adjusting the Segment Number of Companies is as follows: If additions to the Segment Number of Companies are required: - The number of companies is increased to include all companies with a full market capitalization higher than the upper boundary of the Global Minimum Size Range. - The number of companies is increased to include all companies with a full market capitalization higher than the upper limit of the Lower Size Range Boundary Proximity Area, if any, that are required to reach the lower boundary of the Market Coverage Target Range.21F21 - The additions are made in descending order of full market capitalization. The full market capitalization of the last added company then becomes the Market Size-Segment Cutoff. These limits are implemented in the following steps: - First, a reduction of no more than 5% of the Initial Segment Number of Companies is made to bring the Market Size-Segment Cutoff into compliance with the Size and Coverage Target Area. Only the companies with full company market capitalization lower than the lower limit of the Upper Size Range Boundary Proximity Area can be removed.22F22 - If this reduction brings the Market Size-Segment Cutoff into compliance with the Global Minimum Size Range, or removes at least half the free float-adjusted market capitalization that lies between the smallest company before the adjustment of the Initial Segment Number of Companies and the lower bound of the Global Minimum Size Range, no further adjustment is necessary. - If not, then a reduction of not more than 20% of the Initial Segment Number of Companies is made to remove at most half the free float-adjusted market capitalization that lies between the smallest company before adjusting the Initial Segment Number of Companies and the lower bound. - In market segments with a small number of companies, the deletion of the first two companies is not subject to the limits described above. 22 - When a limit is placed on the decrease in the number Updated: The process for adjusting the Segment Number of Companies is as follows: If additions to the Segment Number of Companies are required: - The number of companies is increased to include all companies with a full market capitalization higher than the upper boundary of the Global Minimum Size Range. - The number of companies is increased to include all companies with a full market capitalization higher than the upper limit of the Lower Size Range Boundary Proximity Area, if any, that are required to reach the lower boundary of the Market Coverage Target Range. 21 - The additions are made in descending order of full market capitalization. The full market capitalization of the last added company then becomes the Market Size-Segment Cutoff. These limits are implemented in the following steps: - First, a reduction of no more than 5% of the Initial Segment Number of Companies is made to bring the Market Size-Segment Cutoff into compliance with the Size and Coverage Target Area. Only the companies with full company market capitalization lower than the lower limit of the Upper Size Range Boundary Proximity Area can be removed. 22 - If this reduction brings the Market Size-Segment Cutoff into compliance with the Global Minimum Size Range, or removes at least half the free float-adjusted market capitalization that lies between the smallest company before the adjustment of the Initial Segment Number of Companies and the lower bound of the Global Minimum Size Range, no further adjustment is necessary. - If not, then a reduction of not more than 20% of the Initial Segment Number of Companies is made to remove at most half the free float-adjusted market capitalization that lies between the smallest company before adjusting the Initial Segment Number of Companies and the lower bound. - In market segments with a small number of companies, the deletion of the first two companies is not subject to - the limits described above. 22 When a limit is placed on the decrease in the number of

MSCI ACWI: The only change is the footnote/reference marker attached to "Interim Market Size-Segment Cutoff," which changes from "20F20" to "20." The methodology for determining the Initial Segment Number of Companies is unchanged. (Editorial)

2026-10-02T00:00:00Z

The only change is the footnote/reference marker attached to "Interim Market Size-Segment Cutoff," which changes from "20F20" to "20." The methodology for determining the Initial Segment Number of Companies is unchanged. Previous: If the Interim Market Size-Segment Cutoff20F20 is equal to or above the lower bound of the Global Minimum Size Range, then the Initial Segment Number of Companies is equal to the number of companies in the updated Investable Equity Universe with the full company market capitalization equal to or above the Interim Market Size-Segment Cutoff. Updated: If the Interim Market Size-Segment Cutoff20 is equal to or above the lower bound of the Global Minimum Size Range, then the Initial Segment Number of Companies is equal to the number of companies in the updated Investable Equity Universe with the full company market capitalization equal to or above the Interim Market Size-Segment Cutoff.

MSCI ACWI: The updated text adds the word "Cutoffs" immediately before the existing opening sentence. No rule, threshold, formula, condition, or affected security set is changed. (Editorial)

2026-10-02T00:00:00Z

The updated text adds the word "Cutoffs" immediately before the existing opening sentence. No rule, threshold, formula, condition, or affected security set is changed. Previous: The Segment Number of Companies and the corresponding Market Size-Segment Cutoffs are updated to account for changes in each Market Investable Equity Universe. Updated: Cutoffs The Segment Number of Companies and the corresponding Market Size-Segment Cutoffs are updated to account for changes in each Market Investable Equity Universe.

MSCI ACWI: The updated text adds the standalone word "Ranges" at the beginning of the paragraph. The stated process for recalculating Global Minimum Size References and ranges is otherwise unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated text adds the standalone word "Ranges" at the beginning of the paragraph. The stated process for recalculating Global Minimum Size References and ranges is otherwise unchanged. Previous: The Global Minimum Size References and corresponding ranges are reset at the Index Reviews using a process similar to the one used to update the Equity Universe Minimum Size Requirement. More details may be found in Appendix X: Updating the Global Minimum Size References and Ranges. Updated: Ranges The Global Minimum Size References and corresponding ranges are reset at the Index Reviews using a process similar to the one used to update the Equity Universe Minimum Size Requirement. More details may be found in Appendix X: Updating the Global Minimum Size References and Ranges.

MSCI ACWI: The update changes only the formatting of footnote references in the listing-priority sentence, removing characters such as "F17" and adjusting spacing. The priority order for eligible listings—local, foreign in the same geographical region, then foreign in a different geographical region—and all liquidity requirements remain unchanged. (Editorial)

2026-10-02T00:00:00Z

The update changes only the formatting of footnote references in the listing-priority sentence, removing characters such as "F17" and adjusting spacing. The priority order for eligible listings—local, foreign in the same geographical region, then foreign in a different geographical region—and all liquidity requirements remain unchanged. Previous: If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing17F17 Foreign listing in the same geographical region 18F18 Foreign listing in a different geographical region 19F19. Updated: If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing17 Foreign listing in the same geographical region18 Foreign listing in a different geographical region19.

MSCI ACWI: The updated text only normalizes footnote/reference markers in the Composite Indexes section, such as changing "14F14" to "14", "15F15" to "15", and "16F16" to "16", with a minor spacing adjustment. The substantive description of how Market Indexes may be combined into Composite Indexes is unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated text only normalizes footnote/reference markers in the Composite Indexes section, such as changing "14F14" to "14", "15F15" to "15", and "16F16" to "16", with a minor spacing adjustment. The substantive description of how Market Indexes may be combined into Composite Indexes is unchanged. Previous: Market Indexes can be grouped either on the basis of Market Classification 14F14 definition, geographical regions, economic regions or other criteria. Developed, Emerging and Frontier Markets, we obtain the MSCI World15F15, the MSCI Emerging Markets and the MSCI Frontier Markets Indexes respectively for each size-segment. Some examples would be the MSCI EM Asia Index or the MSCI All Countries16F16 Americas Index. Updated: Market Indexes can be grouped either on the basis of Market Classification 14 definition, geographical regions, economic regions or other criteria. Developed, Emerging and Frontier Markets, we obtain the MSCI World 15, the MSCI Emerging Markets and the MSCI Frontier Markets Indexes respectively for each size-segment. Some examples would be the MSCI EM Asia Index or the MSCI All Countries16 Americas Index.

MSCI ACWI: The updated text only adds the fragment "Markets Indexes"; no index methodology rule, eligibility criterion, calculation, or other substantive requirement is changed. (Editorial)

2026-10-02T00:00:00Z

The updated text only adds the fragment "Markets Indexes"; no index methodology rule, eligibility criterion, calculation, or other substantive requirement is changed. Updated: Markets Indexes

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: At subsequent Index Reviews, if after the application of the index maintenance methodology a Standard Index contains less than five securities in a Developed Market or three securities in an Emerging Market, then the remaining securities are selected for inclusion in the Standard Index using the following process: - The securities included in the updated Market Investable Equity Universe are identified - These securities are ranked by descending free float-adjusted market capitalization, however in order to increase index stability the free float-adjusted market capitalization of the securities included in the Standard Index prior to the Index Review is multiplied by a factor of 1.5 The securities are added to the Standard Index in order to reach five constituents for a Developed Market or three for an Emerging Market in the ranking order determined in the step above Please note that the index continuity rules are applicable only to the Standard Market Indexes. Updated: At subsequent Index Reviews, if after the application of the index maintenance methodology a Standard Index contains less than five securities in a Developed Market or three securities in an Emerging Market, then the remaining securities are selected for inclusion in the Standard Index using the following process: - The securities included in the updated Market Investable Equity Universe are identified - These securities are ranked by descending free float-adjusted market capitalization, however in order to increase index stability the free float-adjusted market capitalization of the securities included in the Standard Index prior to the Index Review is multiplied by a factor of 1.5 - The securities are added to the Standard Index in order to reach five constituents for a Developed Market or three for an Emerging Market in the ranking order determined in the step above Please note that the index continuity rules are applicable only to the Standard Market Indexes.

MSCI ACWI: The updated section prepends the fragment "Size-Segments: Example" to the USA example and changes line wrapping in the Hungary chart text. The methodology, example figures, thresholds, ranks, and security-assignment logic remain unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated section prepends the fragment "Size-Segments: Example" to the USA example and changes line wrapping in the Hungary chart text. The methodology, example figures, thresholds, ranks, and security-assignment logic remain unchanged. Previous: Example: For the USA Standard segment, companies are counted in descending order of full market capitalization starting with the largest company. 5,000 and Hungary Smallest Company in the Higher Standard Index 4,500 4,000 3,500 Company Full Market Capitalization 3,000 2,500 (80%, 2.33 B) (90%, 2.33 B) Global Minimum 2,000 Coverage Target Area (90%,1.01 B) 1,000 (80%,1.01 B) Market Coverage 500 Target Range Standard Index Small Cap Index 0 43.9% 77.4% 86.2% 96.3% 97.9% 99.0% 99.6% 100.0% Cumulative Free-Float Adjusted Market Capitalization Coverage Updated: Size-Segments: Example Example: For the USA Standard segment, companies are counted in descending order of full market capitalization starting with the largest company. 5,000 and Hungary Smallest Company in the Higher Standard Index 4,500 4,000 3,500 Company Full Market Capitalization 3,000 2,500 (80%, 2.33 B) (90%, 2.33 B) Global Minimum 2,000 Coverage Target Area (90%,1.01 B) 1,000 (80%,1.01 B) Market Coverage 500 Target Range Standard Index Small Cap Index 0 43.9% 77.4% 86.2% 96.3% 97.9% 99.0% 99.6% 100.0% Cumulative Free-Float Adjusted Market Capitalization Coverage

MSCI ACWI: The updated section adds a leading "Segment Cutoffs" label and reformats the text with additional line breaks and hyphenation. The methodology for deriving Market Size-Segment Cutoffs, including the 70%, 85%, and 99% coverage levels and Global Minimum Size Range adjustments, is unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated section adds a leading "Segment Cutoffs" label and reformats the text with additional line breaks and hyphenation. The methodology for deriving Market Size-Segment Cutoffs, including the 70%, 85%, and 99% coverage levels and Global Minimum Size Range adjustments, is unchanged. Previous: The Market Size-Segment Cutoffs are derived by identifying a size cutoff which falls within, or as close as possible to, the Size and Coverage Target Area for that size-segment. MSCI notes the respective full market capitalization of the companies that provide the following free float-adjusted market capitalization coverage for the relevant size-segments: - Large Cap Index: 70% - Standard Index: 85% - Investable Market Index: 99% If the full market capitalization of the relevant company lies within the Global Minimum Size Range for the size-segment, then: - The full market capitalization of the relevant company defines the Market Size-Segment Cutoff for that sizesegment at that point in time. - The number of companies with full market capitalization greater than or equal to the relevant company provides the Segment Number of Companies, which will be used to maintain the indexes over time. If it is not, then: The number of companies is decreased until the full market capitalization of the smallest company in the size- segment is equal or higher than the lower bound of the Global Minimum Size Range for that size-segment. Or, - The number of companies is increased to include all companies with a full market capitalization higher than the upper bound of the Global Minimum Size Range for that size-segment. - The full market capitalization of the last company defines the Market Size-Segment Cutoff for that segment and the Segment Number of Companies is set to this company’s rank. Updated: Segment Cutoffs The Market Size-Segment Cutoffs are derived by identifying a size cutoff which falls within, or as close as possible to, the Size and Coverage Target Area for that size-segment. MSCI notes the respective full market capitalization of the companies that provide the following free float-adjusted market capitalization coverage for the relevant size-segments: - Large Cap Index: 70% - Standard Index: 85% - Investable Market Index: 99% If the full market capitalization of the relevant company lies within the Global Minimum Size Range for the size-segment, then: - The full market capitalization of the relevant company defines the Market Size-Segment Cutoff for that size- segment at that point in time. - The number of companies with full market capitalization greater than or equal to the relevant company provides the Segment Number of Companies, which will be used to maintain the indexes over time. If it is not, then: - The number of companies is decreased until the full market capitalization of the smallest company in the size- segment is equal or higher than the lower bound of the Global Minimum Size Range for that size-segment. Or, - The number of companies is increased to include all companies with a full market capitalization higher than the upper bound of the Global Minimum Size Range for that size-segment. - The full market capitalization of the last company defines the Market Size-Segment Cutoff for that segment and the Segment Number of Companies is set to this company’s rank.

MSCI ACWI: The M1 section is listed as removed, but the supplied previous text contains no substantive rule and the unified diff is empty. No index identity, universe, eligibility, selection, or weighting requirement can be identified as changed. (Editorial)

2026-10-02T00:00:00Z

The M1 section is listed as removed, but the supplied previous text contains no substantive rule and the unified diff is empty. No index identity, universe, eligibility, selection, or weighting requirement can be identified as changed.

MSCI ACWI: The update removes the duplicated lead-in phrase "Segment Cutoffs" and reformats line breaks, hyphenation, and bullet layout in the procedure for deriving Market Size-Segment Cutoffs. No coverage targets, thresholds, ranking logic, initial-construction treatment, or maintenance rules change. (Editorial)

2026-10-02T00:00:00Z

The update removes the duplicated lead-in phrase "Segment Cutoffs" and reformats line breaks, hyphenation, and bullet layout in the procedure for deriving Market Size-Segment Cutoffs. No coverage targets, thresholds, ranking logic, initial-construction treatment, or maintenance rules change. Previous: Segment Cutoffs The Market Size-Segment Cutoffs are derived by identifying a size cutoff which falls within, or as close as possible to, the Size and Coverage Target Area for that size-segment. MSCI notes the respective full market capitalization of the companies that provide the following free float-adjusted market capitalization coverage for the relevant size-segments: - Large Cap Index: 70% - Standard Index: 85% - Investable Market Index: 99% If the full market capitalization of the relevant company lies within the Global Minimum Size Range for the size-segment, then: - The full market capitalization of the relevant company defines the Market Size-Segment Cutoff for that size- segment at that point in time. - The number of companies with full market capitalization greater than or equal to the relevant company provides the Segment Number of Companies, which will be used to maintain the indexes over time. If it is not, then: - The number of companies is decreased until the full market capitalization of the smallest company in the size- segment is equal or higher than the lower bound of the Global Minimum Size Range for that size-segment. Or, - The number of companies is increased to include all companies with a full market capitalization higher than the upper bound of the Global Minimum Size Range for that size-segment. - The full market capitalization of the last company defines the Market Size-Segment Cutoff for that segment and the Segment Number of Companies is set to this company’s rank. Updated: The Market Size-Segment Cutoffs are derived by identifying a size cutoff which falls within, or as close as possible to, the Size and Coverage Target Area for that size-segment. MSCI notes the respective full market capitalization of the companies that provide the following free float-adjusted market capitalization coverage for the relevant size-segments: - Large Cap Index: 70% - Standard Index: 85% - Investable Market Index: 99% If the full market capitalization of the relevant company lies within the Global Minimum Size Range for the size-segment, then: - The full market capitalization of the relevant company defines the Market Size-Segment Cutoff for that sizesegment at that point in time. - The number of companies with full market capitalization greater than or equal to the relevant company provides the Segment Number of Companies, which will be used to maintain the indexes over time. If it is not, then: The number of companies is decreased until the full market capitalization of the smallest company in the size- segment is equal or higher than the lower bound of the Global Minimum Size Range for that size-segment. Or, - The number of companies is increased to include all companies with a full market capitalization higher than the upper bound of the Global Minimum Size Range for that size-segment. - The full market capitalization of the last company defines the Market Size-Segment Cutoff for that segment and the Segment Number of Companies is set to this company’s rank.

MSCI ACWI: The updated document adds a two-page MSCI Notice and Disclaimer covering intellectual property, permitted use and AI restrictions, warranty and liability disclaimers, back-tested data and signals, valuation limitations, investment-advice disclaimers, conflicts of interest, and governing law. It does not change any ACWI index construction, eligibility, selection, weighting, review, or calculation rule. (Editorial)

2026-10-02T00:00:00Z

The updated document adds a two-page MSCI Notice and Disclaimer covering intellectual property, permitted use and AI restrictions, warranty and liability disclaimers, back-tested data and signals, valuation limitations, investment-advice disclaimers, conflicts of interest, and governing law. It does not change any ACWI index construction, eligibility, selection, weighting, review, or calculation rule. Updated: The data, data feeds, databases, reports, text, graphs, charts, images, videos, recordings, models, metrics, analytics, indexes, ratings, scores, cases, estimates, assessments, software, websites, products, services and other information and materials contained herein or delivered in connection with this notice (collectively, the “Information”) are copyrighted, trade secrets (when not publicly available), trademarks and proprietary property of MSCI Inc. or its subsidiaries (collectively, “MSCI”), MSCI’s licensors, direct or indirect suppliers and authorized sources, and/or any third party contributing to the Information (collectively, with MSCI, the “Information Providers”). All rights in the Information are reserved by MSCI and its Information Providers and user(s) shall not, nor assist others to, challenge or assert any rights in the Information. Unless you contact MSCI and receive its prior written permission, you must NOT use the Information, directly or indirectly, in whole or in part (i) for commercial purposes, (ii) in a manner that competes with MSCI or impacts its ability to commercialize the Information or its services, (iii) to provide a service to a third party, (iv) to permit a third party to directly or indirectly access, use or resell the Information, (v) to redistribute or resell the Information in any form, (vi) to include the Information in any materials for public dissemination such as fund factsheets, market presentations, prospectuses, and investor information documents (e.g. KIIDs or KIDs), (vii) to create or as a component of any financial products, whether listed or traded over the counter or on a private placement basis or otherwise, (viii) to create any indexes, ratings or other data products, including in derivative works combined with other indexes or data or as a policy, product or performance benchmarks for active, passive or other financial products, (ix) to populate a database, or (x) to train, use as an input to, or otherwise in conn

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Updated: About MSCI AMERICA MSCI is a leading provider of critical decision United States + 1 888 588 4567 * support tools and services for the global Canada + 1 416 687 6270 investment community. With over 50 years of Brazil + 55 11 4040 7830 expertise in research, data and technology, we Mexico + 52 81 1253 4020 power better investment decisions by enabling clients to understand and analyze key drivers of risk and return and confidently build more EUROPE, MIDDLE EAST & AFRICA effective portfolios. We create industry-leading research-enhanced solutions that clients use to South Africa + 27 21 673 0103 gain insight into and improve transparency across Germany + 49 69 133 859 00 the investment process. Switzerland + 41 22 817 9777 United Kingdom + 44 20 7618 2222 Italy + 39 02 5849 0415 To learn more, please visit www.msci.com. France + 33 17 6769 810 msci.com/contact-us ASIA PACIFIC The process for submitting a formal index complaint China + 86 21 61326611 can be found on the index regulation page of MSCI’s Hong Kong + 852 2844 9333 website at: https://www.msci.com/index-regulation. India + 91 22 6784 9160 Malaysia 1800818185 * South Korea + 82 70 4769 4231 Singapore + 65 67011177 Australia + 612 9033 9333 Taiwan 008 0112 7513 * Thailand 0018 0015 6207 7181 * Japan + 81 3 4579 0333 * toll-free

MSCI ACWI: The methodology change history is reformatted and extended with October and November 2025 entries. These note the availability of MSCI Canada Domestic Indexes, consolidation of the Announcement Policy into the MSCI Corporate Events methodology, a Business Day footnote clarification, and updates to the Ineligible Alert Boards and Other Cases tables. No operative rule text or specific effective day is provided in this section. (Editorial)

2026-10-02T00:00:00Z

The methodology change history is reformatted and extended with October and November 2025 entries. These note the availability of MSCI Canada Domestic Indexes, consolidation of the Announcement Policy into the MSCI Corporate Events methodology, a Business Day footnote clarification, and updates to the Ineligible Alert Boards and Other Cases tables. No operative rule text or specific effective day is provided in this section. Previous: Appendix deleted The following sections have been modified since February 2016: Appendix XIX: Transition to the MSCI GIMI Methodology Previously Appendix XVII The following sections have been modified since August 2018: Appendix I: Equity Markets and Universe Updated the table “Eligible Markets (Emerging Markets)” Updated the table “Eligible Classes of Securities for stock exchanges in Emerging Markets” The following sections have been modified since March 2021: Appendix XV: Index Maintenance of the MSCI China Indexes Added clarifications The following sections have been modified since May 2021: Appendix I: Eligible Markets (Developed Markets) Updated Footnote The following sections have been modified as of November 2022: Appendix II: Market Classification Framework Updated table and text to account for changes to the Size and Liquidity Requirements Added section for Advanced Frontier Markets Contact Us About MSCI AMERICA MSCI is a leading provider of critical decision United States + 1 888 588 4567 * support tools and services for the global Canada + 1 416 687 6270 investment community. With over 50 years of Brazil + 55 11 4040 7830 expertise in research, data and technology, we Mexico + 52 81 1253 4020 power better investment decisions by enabling clients to understand and analyze key drivers of risk and return and confidently build more EUROPE, MIDDLE EAST & AFRICA effective portfolios. We create industry-leading research-enhanced solutions that clients use to South Africa + 27 21 673 0103 gain insight into and improve transparency across Germany + 49 69 133 859 00 the investment process. Switzerland + 41 22 817 9777 United Kingdom + 44 20 7618 2222 Italy + 39 02 5849 0415 To learn more, please visit www.msci.com. France + 33 17 6769 810 msci.com/contact-us ASIA PACIFIC The process for submitting a formal index complaint China + 86 21 61326611 can be found on the index regulation page of MSCI’s Hong Kong + 852 2844 9333 website at: https://www.msci.com/index-regu Updated: Appendix deleted The following sections have been modified since February 2016: Appendix XIX: Transition to the MSCI GIMI Methodology Previously Appendix XVII The following sections have been modified since August 2018: Appendix I: Equity Markets and Universe Updated the table “Eligible Markets (Emerging Markets)” Updated the table “Eligible Classes of Securities for stock exchanges in Emerging Markets” The following sections have been modified since March 2021: Appendix XV: Index Maintenance of the MSCI China Indexes Added clarifications The following sections have been modified since May 2021: Appendix I: Eligible Markets (Developed Markets) Updated Footnote The following sections have been modified as of November 2022: Appendix II: Market Classification Framework Updated table and text to account for changes to the Size and Liquidity Requirements Added section for Advanced Frontier Markets The following section has been modified as of October 2025: Appendix XIII: MSCI Domestic Indexes Updated to reflect the availability of MSCI Canada Domestic Indexes. The following section has been modified as of November 2025: Section 3.3 Announcement Policy Section simplified and consolidated in the MSCI Corporate Events methodology Section 3.1.9 Date of Data Used for Index Reviews Updated footnote 28 for Business Day clarification Appendix I: Equity Markets and Universe Updated the table Ineligible Alert Boards and Other Cases

MSCI ACWI: The methodology refreshes the Global Minimum Size Reference levels from July 16, 2025 (Aug-25 table) to October 15, 2025 (Nov-25 table). The DM Standard reference rises from USD 13.35 billion to USD 14.31 billion, changing the DM Standard range to USD 7.15–16.45 billion and the EM range to USD 3.58–8.23 billion; all tabulated Large Cap, Standard/Mid Cap, Small Cap, DM, EM, and Frontier references also change. The 70%/85%/99% coverage derivation and 50% EM relationship are unchanged. (Minor)

2026-10-02T00:00:00Z

The methodology refreshes the Global Minimum Size Reference levels from July 16, 2025 (Aug-25 table) to October 15, 2025 (Nov-25 table). The DM Standard reference rises from USD 13.35 billion to USD 14.31 billion, changing the DM Standard range to USD 7.15–16.45 billion and the EM range to USD 3.58–8.23 billion; all tabulated Large Cap, Standard/Mid Cap, Small Cap, DM, EM, and Frontier references also change. The 70%/85%/99% coverage derivation and 50% EM relationship are unchanged. Previous: Then, the respective full market capitalizations of the companies that provide the following cumulative free float-adjusted market capitalization coverage of the DM Investable Equity Universe are chosen: - DM Large Cap Index: 70% coverage - DM Standard Index: 85% coverage - DM Investable Market Index: 99% coverage For Emerging Markets, the Global Minimum Size Reference is set at one-half the corresponding level of full market capitalization used for the Developed Markets for each size-segment. The Global Minimum Size References for the Large Cap, Standard, and Investable Market segments, based on July 16, 2025 data, are set forth below. The full market capitalization of the company that provides at least an 85% cumulative free float-adjusted coverage of the DM Investable Equity Universe is USD 13.35 billion. 0.5 times to 1.15 times to this Global Minimum Size Reference gives the Global Minimum Size Range of USD 6.68 billion to USD 15.35 billion for the DM Standard Indexes. The EM range for the Standard Indexes, therefore, is USD 3.34 billion to USD 7.68 billion. Global Minimum Size Reference Percent of Free Float Investable Equity Developed Markets Emerging Markets Frontier Markets Adjusted Market Universe Global Minimum Size Global Minimum Size Global Minimum Size Coverage Reference Reference (50% of DM) Reference Aug-25 Aug-25 Aug-25 Universe Large Cap 70% 43,982 21,991 927 Mid Cap 85% 13,352 6,676 361 Small Cap 99% 1,028 514 25 All market caps are in USD millions. Data as of the close of July 16, 2025 The Developed Markets and Frontier Markets Global Minimum Size References are calculated based on the Developed Markets and Frontier Markets Investable Equity Universes, respectively. Updated: Then, the respective full market capitalizations of the companies that provide the following cumulative free float-adjusted market capitalization coverage of the DM Investable Equity Universe are chosen: - DM Large Cap Index: 70% coverage - DM Standard Index: 85% coverage DM Investable Market Index: 99% coverage - For Emerging Markets, the Global Minimum Size Reference is set at one-half the corresponding level of full market capitalization used for the Developed Markets for each size-segment. The Global Minimum Size References for the Large Cap, Standard, and Investable Market segments, based on October 15, 2025 data, are set forth below. The full market capitalization of the company that provides at least an 85% cumulative free float-adjusted coverage of the DM Investable Equity Universe is USD 14.31 billion. 0.5 times to 1.15 times to this Global Minimum Size Reference gives the Global Minimum Size Range of USD 7.15 billion to USD 16.45 billion for the DM Standard Indexes. The EM range for the Standard Indexes, therefore, is USD 3.58 billion to USD 8.23 billion. Global Minimum Size Reference Percent of Free Float Investable Equity Developed Markets Emerging Markets Frontier Markets Adjusted Market Universe Global Minimum Global Minimum Size Global Minimum Coverage Size Reference Reference (50% of DM) Size Reference Nov-25 Nov-25 Nov-25 Universe Large Cap 70% 47,101 23,550 1,047 Mid Cap 85% 14,306 7,153 409 Small Cap 99% 1,112 556 29 All market caps are in USD millions. Data as of the close of October 15, 2025 The Developed Markets and Frontier Markets Global Minimum Size References are calculated based on the Developed Markets and Frontier Markets Investable Equity Universes, respectively.

MSCI ACWI: The standalone heading "Methodology" was removed, and the stray "o" marker before "minimum" was relocated to the beginning of the final sentence concerning the MSCI Baltic States Indexes. These are formatting-only changes; the described index rules and the 2.5% ATVR requirement remain unchanged. (Editorial)

2026-10-02T00:00:00Z

The standalone heading "Methodology" was removed, and the stray "o" marker before "minimum" was relocated to the beginning of the final sentence concerning the MSCI Baltic States Indexes. These are formatting-only changes; the described index rules and the 2.5% ATVR requirement remain unchanged. Previous: Methodology The MSCI Estonia, MSCI Lithuania and MSCI Latvia Indexes are then derived from the constituents of the MSCI Baltic States Indexes, As part of the August 2023 Index Review, the constituents of the MSCI Estonia and o MSCI Lithuania Indexes were considered as existing constituents of the MSCI Baltic States Index for rebalancing purpose, The MSCI Baltic States Indexes is maintained as a Very Low Liquidity market with a o minimum Annualized Traded Value Ratio (ATVR) requirement of 2.5%. Updated: The MSCI Estonia, MSCI Lithuania and MSCI Latvia Indexes are then derived from the constituents of the MSCI Baltic States Indexes, As part of the August 2023 Index Review, the constituents of the MSCI Estonia and o MSCI Lithuania Indexes were considered as existing constituents of the MSCI Baltic States Index for rebalancing purpose, o The MSCI Baltic States Indexes is maintained as a Very Low Liquidity market with a minimum Annualized Traded Value Ratio (ATVR) requirement of 2.5%.

MSCI ACWI: The updated text removes the duplicated heading fragment "compared to Parent Indexes" from the beginning of the paragraph. The substantive rule for reflecting parent-index changes in less frequently reviewed Derived Indexes remains unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated text removes the duplicated heading fragment "compared to Parent Indexes" from the beginning of the paragraph. The substantive rule for reflecting parent-index changes in less frequently reviewed Derived Indexes remains unchanged. Previous: compared to Parent Indexes Indexes constructed from a parent index that follows GIMI methodology but apply an alternative weighting methodology and/or additional screening methodology (Derived Indexes), such as MSCI Factor, ESG or Capped Indexes, may have Index Review schedules which do not always coincide with the Index Review schedule of their respective parent index. Updated: Indexes constructed from a parent index that follows GIMI methodology but apply an alternative weighting methodology and/or additional screening methodology (Derived Indexes), such as MSCI Factor, ESG or Capped Indexes, may have Index Review schedules which do not always coincide with the Index Review schedule of their respective parent index.

MSCI ACWI: The updated text removes the standalone "Index Review" heading and merges the first two paragraphs into one block. The substantive description of the transition from SAIRs/QIRs to QCIRs is unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated text removes the standalone "Index Review" heading and merges the first two paragraphs into one block. The substantive description of the transition from SAIRs/QIRs to QCIRs is unchanged. Previous: Index Review Prior to the February 2023 Index Review, the MSCI Global Investable Market Indexes were reviewed on a quarterly basis which involved: - Semi-Annual Index Reviews (SAIRs) in May and November and - Quarterly Index Reviews (QIRs) in February and August The objective of the SAIRs was to systematically reassess the various dimensions of the Equity Universe for all markets, involving a comprehensive review of the Size-Segment Indexes. Updated: Prior to the February 2023 Index Review, the MSCI Global Investable Market Indexes were reviewed on a quarterly basis which involved: - Semi-Annual Index Reviews (SAIRs) in May and November and - Quarterly Index Reviews (QIRs) in February and August The objective of the SAIRs was to systematically reassess the various dimensions of the Equity Universe for all markets, involving a comprehensive review of the Size-Segment Indexes.

MSCI ACWI: The updated text removes the introductory run-in phrase "Review of the Small Cap Index" from the beginning of the paragraph. All substantive descriptions of the May 2007 review, eligibility screens, additions, deletions, and industry-group targets remain unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated text removes the introductory run-in phrase "Review of the Small Cap Index" from the beginning of the paragraph. All substantive descriptions of the May 2007 review, eligibility screens, additions, deletions, and industry-group targets remain unchanged. Previous: Review of the Small Cap Index The changes resulting from the May 2007 Annual Full Country Index Review of the existing Standard Indexes were announced on May 3, 2007, earlier than its normal announcement Updated: The changes resulting from the May 2007 Annual Full Country Index Review of the existing Standard Indexes were announced on May 3, 2007, earlier than its normal announcement

MSCI ACWI: The updated text removes the extraneous leading word "Period" from the first sentence. No index review, maintenance, or transition-period rule is changed. (Editorial)

2026-10-02T00:00:00Z

The updated text removes the extraneous leading word "Period" from the first sentence. No index review, maintenance, or transition-period rule is changed. Previous: Period During the transition period, from May 4, 2007 through May 30, 2008, MSCI was maintaining its Updated: During the transition period, from May 4, 2007 through May 30, 2008, MSCI was maintaining its

MSCI ACWI: The footnote number attached to the note on the former naming of the MSCI China A Onshore Indexes changed from 67 to 66. The substantive wording, date, and methodology references remain unchanged. (Editorial)

2026-10-02T00:00:00Z

The footnote number attached to the note on the former naming of the MSCI China A Onshore Indexes changed from 67 to 66. The substantive wording, date, and methodology references remain unchanged. Previous: 67 The MSCI China A Onshore Indexes were previously known as the MSCI China A Indexes prior to March 1, 2018. Please refer to Appendixes XII and XIV of the MSCI GIMI Methodology for more details on the MSCI China A Onshore Indexes. Updated: 66 The MSCI China A Onshore Indexes were previously known as the MSCI China A Indexes prior to March 1, 2018. Please refer to Appendixes XII and XIV of the MSCI GIMI Methodology for more details on the MSCI China A Onshore Indexes.

MSCI ACWI: The only change is to the superscript/reference marker attached to "MSCI China A Indexes," replacing "67" with "63F66" and removing the preceding space. The descriptive methodology, index families, investor orientation, constituent relationship, and calculated size segments remain unchanged. (Editorial)

2026-10-02T00:00:00Z

The only change is to the superscript/reference marker attached to "MSCI China A Indexes," replacing "67" with "63F66" and removing the preceding space. The descriptive methodology, index families, investor orientation, constituent relationship, and calculated size segments remain unchanged. Previous: The MSCI China A Indexes 67 and the MSCI China A RMB Indexes are designed to represent the performance of the China A shares portion of the MSCI China Index. Updated: The MSCI China A Indexes63F66 and the MSCI China A RMB Indexes are designed to represent the performance of the China A shares portion of the MSCI China Index.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: The section was moved from page 133 to page 131 and its text was reflowed. The eligibility requirements for adding non-current China A shares to the MSCI China Index during a Light Rebalancing remain unchanged. (Editorial)

2026-10-02T00:00:00Z

The section was moved from page 133 to page 131 and its text was reflowed. The eligibility requirements for adding non-current China A shares to the MSCI China Index during a Light Rebalancing remain unchanged. Previous: During a Light Rebalancing, China A shares that are non-current constituents of the MSCI China Index must meet the following requirements to be added to the MSCI China Index: - 1.8x the Interim Market Size-Segment Cutoff in terms of company full market capitalization - 1.8x one-half times the Interim Market Size-Segment Cutoff in terms of security FIF- adjusted market capitalization - Stock Connect eligibility Updated: During a Light Rebalancing, China A shares that are non-current constituents of the MSCI China Index must meet the following requirements to be added to the MSCI China Index: - 1.8x the Interim Market Size-Segment Cutoff in terms of company full market capitalization - 1.8x one-half times the Interim Market Size-Segment Cutoff in terms of security FIFadjusted market capitalization Stock Connect eligibility -

MSCI ACWI: The China A size-segment investability section was moved from page 132 to page 130 and its bullet/list formatting was consolidated. The substantive requirements for adding or retaining China A shares, including market-capitalization thresholds, FIF treatment, Stock Connect eligibility, and the Small Cap exclusion, remain unchanged. (Editorial)

2026-10-02T00:00:00Z

The China A size-segment investability section was moved from page 132 to page 130 and its bullet/list formatting was consolidated. The substantive requirements for adding or retaining China A shares, including market-capitalization thresholds, FIF treatment, Stock Connect eligibility, and the Small Cap exclusion, remain unchanged. Previous: More specifically, during Index Reviews, China A shares that are non-current constituents of the MSCI China Index and assigned to the Large Cap or Mid Cap Size-Segments must meet the following requirements to be added to the MSCI China Index: - 1.0x the Standard Cutoff in terms of company full market capitalization - 0.5x the Standard Cutoff in terms of security FIF-adjusted market capitalization Securities with FIF below 0.15 must meet 1.8x 0.5x the Standard Cutoff in terms of o Security FIF-adjusted Market Capitalization - Stock Connect eligibility China A shares assigned to Small Cap Size-Segment will not be added to the MSCI China Indexes. Updated: More specifically, during Index Reviews, China A shares that are non-current constituents of the MSCI China Index and assigned to the Large Cap or Mid Cap Size-Segments must meet the following requirements to be added to the MSCI China Index: 1.0x the Standard Cutoff in terms of company full market capitalization - - 0.5x the Standard Cutoff in terms of security FIF-adjusted market capitalization o Securities with FIF below 0.15 must meet 1.8x 0.5x the Standard Cutoff in terms of Security FIF-adjusted Market Capitalization - Stock Connect eligibility China A shares assigned to Small Cap Size-Segment will not be added to the MSCI China Indexes.

MSCI ACWI: The update changes internal footnote/reference markers in the listing-priority and China suspension passages, such as "6" appearing as "5F6," and reformats the bulleted ATVR calculation note. The liquidity thresholds, suspension conditions, listing priority rules, and ATVR adjustment provisions remain substantively unchanged. (Editorial)

2026-10-02T00:00:00Z

The update changes internal footnote/reference markers in the listing-priority and China suspension passages, such as "6" appearing as "5F6," and reformats the bulleted ATVR calculation note. The liquidity thresholds, suspension conditions, listing priority rules, and ATVR adjustment provisions remain substantively unchanged. Previous: In addition to the ATVR and Frequency of Trading requirements, securities in the MSCI China Equity Universe will not be eligible for inclusion in the Market Investable Equity Universe if the securities: Are suspended on the Price Cutoff Date (as defined in section 3.1.9) of the Index Review Have been suspended for 50 consecutive business days or more in the past 12 months6 Only one listing per security may be included in the Market Investable Equity Universe. In instances when a security has two or more eligible listings that meet the above liquidity requirements, then the following priority rules are used to determine which listing will be used for potential inclusion of the security in the Market Investable Equity Universe: Local listing7 Foreign listing in the same geographical region 8 Foreign listing in a different geographical region 9. 11 Notes on ATVR calculation: - Trading volumes and prices for liquidity computation will only be captured from eligible exchange, including USA and Canada. In general, MSCI uses free float-adjusted security market capitalization after the application of any relevant adjustment factors (e.g. adjustment factors applied due to low foreign room, Liquidity Adjustment Factors). ATVR values used in the regular Index Reviews as well as the relevant thresholds are not rounded. - In some cases of FIF changes due to significant FIF corrections, regulatory changes in Foreign Ownership Limits or methodology changes, MSCI may adjust ATVR values by applying the updated FIF during the relevant ATVR calculation period. Updated: In addition to the ATVR and Frequency of Trading requirements, securities in the MSCI China Equity Universe will not be eligible for inclusion in the Market Investable Equity Universe if the securities: Are suspended on the Price Cutoff Date (as defined in section 3.1.9) of the Index Review Have been suspended for 50 consecutive business days or more in the past 12 months 5F6 Only one listing per security may be included in the Market Investable Equity Universe. In instances when a security has two or more eligible listings that meet the above liquidity requirements, then the following priority rules are used to determine which listing will be used for potential inclusion of the security in the Market Investable Equity Universe: Local listing6F7 Foreign listing in the same geographical region 7F8 Foreign listing in a different geographical region 8F9. 11 Notes on ATVR calculation: Trading volumes and prices for liquidity computation will only be captured from eligible exchange, including USA and Canada. In general, MSCI uses free float-adjusted security market capitalization after the application of any relevant adjustment factors (e.g. adjustment factors applied due to low foreign room, Liquidity Adjustment Factors). - ATVR values used in the regular Index Reviews as well as the relevant thresholds are not rounded. In some cases of FIF changes due to significant FIF corrections, regulatory changes in Foreign Ownership Limits or methodology changes, MSCI may adjust ATVR values by applying the updated FIF during the relevant ATVR calculation period.

MSCI ACWI: The updated text removes the stray run-in word "Segments" from the opening sentence and renumbers the associated footnote from 66 to 65. The substantive rules for market size-segment cutoffs, China A share assessment, and the one-year suspension look-back remain unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated text removes the stray run-in word "Segments" from the opening sentence and renumbers the associated footnote from 66 to 65. The substantive rules for market size-segment cutoffs, China A share assessment, and the one-year suspension look-back remain unchanged. Previous: Segments The Market Size-Segment Cutoffs and the Size-Segment allocation of companies are based on the integrated MSCI China Investable Equity Universe. 66 As of each day from the effective date of the Index Review one year prior to the price cutoff date of the current Index Review (for example: a non-Index constituent suspended for 50 days as of any day from June 1, 2017, the effective date of the May 2017 Index Review, to April 23, 2018, the price cutoff date of the May 2018 Index Review, would not have been eligible for the Investable Market Universe of the May 2018 Index Review) Updated: The Market Size-Segment Cutoffs and the Size-Segment allocation of companies are based on the integrated MSCI China Investable Equity Universe. 65 As of each day from the effective date of the Index Review one year prior to the price cutoff date of the current Index Review (for example: a non-Index constituent suspended for 50 days as of any day from June 1, 2017, the effective date of the May 2017 Index Review, to April 23, 2018, the price cutoff date of the May 2018 Index Review, would not have been eligible for the Investable Market Universe of the May 2018 Index Review)

MSCI ACWI: The suspension exclusion rule for newly eligible securities is unchanged: securities are excluded if suspended on the Price Cutoff date or suspended for at least 50 consecutive days in the past 12 months. The update only relocates bullet markers, changes the footnote/reference marker from "66" to "62F65", and moves the section from page 131 to page 129. (Editorial)

2026-10-02T00:00:00Z

The suspension exclusion rule for newly eligible securities is unchanged: securities are excluded if suspended on the Price Cutoff date or suspended for at least 50 consecutive days in the past 12 months. The update only relocates bullet markers, changes the footnote/reference marker from "66" to "62F65", and moves the section from page 131 to page 129. Previous: In addition to the Investability Requirements described in section 2.2, MSCI will exclude newly eligible securities (securities that are not current constituents of the Investable Market Indexes) from the investable equity universe if the securities: - - Are suspended on the Price Cutoff date, or Have been suspended for at least 50 days consecutively in the past 12 months66 Companies and securities are evaluated based on the integrated MSCI China Equity Universe. Updated: In addition to the Investability Requirements described in section 2.2, MSCI will exclude newly eligible securities (securities that are not current constituents of the Investable Market Indexes) from the investable equity universe if the securities: Are suspended on the Price Cutoff date, or - - Have been suspended for at least 50 days consecutively in the past 12 months 62F65 Companies and securities are evaluated based on the integrated MSCI China Equity Universe.

MSCI ACWI: The text is unchanged except that the footnote reference preceding the CDR statement is renumbered from 65 to 64. The substantive rule that CDRs are generally subject to the same requirements as China A shares, including Stock Connect eligibility, remains identical. (Editorial)

2026-10-02T00:00:00Z

The text is unchanged except that the footnote reference preceding the CDR statement is renumbered from 65 to 64. The substantive rule that CDRs are generally subject to the same requirements as China A shares, including Stock Connect eligibility, remains identical. Previous: 65 CDRs are generally subject to the same requirements as China A shares, including Stock Connect eligibility further described in this section. Updated: 64 CDRs are generally subject to the same requirements as China A shares, including Stock Connect eligibility further described in this section.

MSCI ACWI: The section was moved from page 130 to page 128, and the associated diagram was reflowed without changing its meaning. The only textual alteration in the universe description is the footnote/reference marker for CDRs, changing from "65" to "61F64"; the definition of the integrated MSCI China Equity Universe is unchanged. (Editorial)

2026-10-02T00:00:00Z

The section was moved from page 130 to page 128, and the associated diagram was reflowed without changing its meaning. The only textual alteration in the universe description is the footnote/reference marker for CDRs, changing from "65" to "61F64"; the definition of the integrated MSCI China Equity Universe is unchanged. Previous: Integrated MSCI China Equity Universe -> A-shares, CDRs and B-shares listed in China China A Share component -> H-shares, Red-chips, P-chips listed in HK -> foreign listed companies MSCI China A MSCI China A Integrated MSCI China Investable MSCI China A International (exclude Mid and Small Cap China A shares) Inclusion Universe Stock Connect Screen on China A shares the integrated MSCI China Equity Universe comprised of A‐shares, CDRs 65 and B‐shares Updated: -> A-shares, CDRs and B-shares listed in China China A Share component -> H-shares, Red-chips, P-chips listed in HK -> foreign listed companies MSCI China A MSCI China A Integrated MSCI China Investable MSCI China A (exclude Mid and Small Cap China A shares) International Inclusion Stock Connect Screen on China A shares Universe the integrated MSCI China Equity Universe comprised of A‐shares, CDRs61F64 and B‐shares

MSCI ACWI: A new section titled "INTEGRATED MSCI CHINA EQUITY UNIVERSE" is indicated on pages 128-133 of the updated version. However, no section text or unified diff content is provided, so no actual universe, eligibility, or other index rule can be verified from the supplied materials. (Editorial)

2026-10-02T00:00:00Z

A new section titled "INTEGRATED MSCI CHINA EQUITY UNIVERSE" is indicated on pages 128-133 of the updated version. However, no section text or unified diff content is provided, so no actual universe, eligibility, or other index rule can be verified from the supplied materials.

MSCI ACWI: The footnote defining “the MSCI China Indexes” as those included in the MSCI Emerging Markets Indexes was renumbered from 64 to 63. The substantive text and all maintenance rules remain unchanged. (Editorial)

2026-10-02T00:00:00Z

The footnote defining “the MSCI China Indexes” as those included in the MSCI Emerging Markets Indexes was renumbered from 64 to 63. The substantive text and all maintenance rules remain unchanged. Previous: 64 The MSCI China Indexes in this section refers to the MSCI China Indexes included in the MSCI Emerging Markets Indexes. Updated: 63 The MSCI China Indexes in this section refers to the MSCI China Indexes included in the MSCI Emerging Markets Indexes.

MSCI ACWI: The only change is to the reference marker following the January 2020 update note, from “64” to “60F63.” No index maintenance rule, date, threshold, or procedure is changed. (Editorial)

2026-10-02T00:00:00Z

The only change is to the reference marker following the January 2020 update note, from “64” to “60F63.” No index maintenance rule, date, threshold, or procedure is changed. Previous: This section has been updated in January 2020 64. Updated: This section has been updated in January 2020 60F63.

MSCI ACWI: The MSCI China share-class/index matrix is reformatted with check marks showing which share classes appear in each index. The surrounding narrative rules are unchanged, while footnote/reference numbers shift from 60–63 to 59–62 (appearing with revision artifacts such as "56F59"). (Editorial)

2026-10-02T00:00:00Z

The MSCI China share-class/index matrix is reformatted with check marks showing which share classes appear in each index. The surrounding narrative rules are unchanged, while footnote/reference numbers shift from 60–63 to 59–62 (appearing with revision artifacts such as "56F59"). Previous: Share Class Domestic MSCI China Indexes P Foreign Connect Index Free Float B Shares H Shares Red Chips Size- Chips Listings A Shares CDR* eligible Listing Inclusion Inclusion Segment only Factor Factor Integrated China Equity Universe MSCI China All Shares Index L/M/S Onshore FIF MSCI China A International Index L/M/S Onshore FIF MSCI China Indexes L/M Connect 20% FIF MSCI China A Inclusion Index L/M Connect FIF MSCI China A Inclusion RMB Index L/M Onshore FIF MSCI China A Index L/M Connect FIF MSCI China A RMB Index L/M Onshore FIF Domestic China A Shares Equity Universe MSCI China A Onshore Index L/M/S Onshore DIF * CDRs are generally subject to the same requirements as China A shares, including Stock Connect eligibility further described in Appendix on Index Maintenance of the MSCI China Indexes. For more details on the MSCI China All Shares and MSCI China A International Indexes, please refer to the MSCI China All Shares Indexes Methodology60. 60 Available on https://www.msci.com/index-methodology Following the inclusion of Mid Cap China A shares in the MSCI Emerging Markets Index in the November 2019 Index Review, the MSCI China A Indexes61 represent the performance of the China A shares portion of the MSCI China Index. The MSCI China A Inclusion Indexes62 represent the China A share portion of the MSCI China Index and are identical to the MSCI China A Indexes following the inclusion of Mid Cap China A shares in the MSCI Emerging Markets Index. In addition, MSCI will also continue to calculate the MSCI China A Onshore Indexes63 which are based on the Domestic Inclusion Factor (DIF) that is not subject to FOL and constructed only on the basis of the China A Equity Universe. 61 Please refer to Appendix XVII for more details. 62 Please refer to Appendix XVI for more details. 63 Please refer to Appendix XII for more details on the MSCI China A Onshore Indexes. Updated: Share Class Domestic MSCI China Indexes P Connect Index Free Float Foreign B Shares H Shares Red Chips Size- Chips Listings A Shares CDR* eligible Listing Inclusion Inclusion Segment only Factor Factor Integrated China Equity Universe ✓ ✓ ✓ ✓ ✓ ✓ ✓ MSCI China All Shares Index L/M/S Onshore FIF ✓ MSCI China A International Index L/M/S Onshore FIF ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ MSCI China Indexes L/M Connect 20% FIF ✓ ✓ MSCI China A Inclusion Index L/M Connect FIF ✓ ✓ MSCI China A Inclusion RMB Index L/M Onshore FIF MSCI China A Index ✓ ✓ L/M Connect FIF ✓ ✓ MSCI China A RMB Index L/M Onshore FIF Domestic China A Shares Equity Universe ✓ MSCI China A Onshore Index L/M/S Onshore DIF * CDRs are generally subject to the same requirements as China A shares, including Stock Connect eligibility further described in Appendix on Index Maintenance of the MSCI China Indexes. For more details on the MSCI China All Shares and MSCI China A International Indexes, please refer to the MSCI China All Shares Indexes Methodology56F59. 59 Available on https://www.msci.com/index-methodology Following the inclusion of Mid Cap China A shares in the MSCI Emerging Markets Index in the November 2019 Index Review, the MSCI China A Indexes57F60 represent the performance of the China A shares portion of the MSCI China Index. The MSCI China A Inclusion Indexes58F61 represent the China A share portion of the MSCI China Index and are identical to the MSCI China A Indexes following the inclusion of Mid Cap China A shares in the MSCI Emerging Markets Index. In addition, MSCI will also continue to calculate the MSCI China A Onshore Indexes59F62 which are based on the Domestic Inclusion Factor (DIF) that is not subject to FOL and constructed only on the basis of the China A Equity Universe. 60 Please refer to Appendix XVII for more details. 61 Please refer to Appendix XVI for more details. 62 Please refer to Appendix XII for more details on the MSCI China A Onshore Indexes.

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

Editorial change: wording only, no rule changed. Previous: 57 For the MSCI Saudi Arabia Domestic Index, the DIF is calculated from the perspective of a GCC regional investor. 58 The domestic China Index is known the MSCI China A Onshore Index. 59 The domestic Australia and Korea Indexes are known as the MSCI Australian Shares Indexes and the MSCI Korean Shares Indexes respectively. Updated: 56 For the MSCI Saudi Arabia Domestic Index, the DIF is calculated from the perspective of a GCC regional investor. 57 The domestic China Index is known the MSCI China A Onshore Index. 58 The domestic Australia and Korea Indexes are known as the MSCI Australian Shares Indexes and the MSCI Korean Shares Indexes respectively.

MSCI ACWI: The updated list of countries for which MSCI Domestic Indexes based on the MSCI Global Investable Market Indexes Methodology are available adds Canada. The footnote reference numbers were also renumbered, but the substantive change is the expansion of country coverage. (Minor)

2026-10-02T00:00:00Z

The updated list of countries for which MSCI Domestic Indexes based on the MSCI Global Investable Market Indexes Methodology are available adds Canada. The footnote reference numbers were also renumbered, but the substantive change is the expansion of country coverage. Previous: MSCI defines the free float of a security as the proportion of tradable shares outstanding that are deemed to be available for purchase in the public equity markets by domestic investors57. Currently, MSCI Domestic Indexes based on the MSCI Global Investable Market Indexes Methodology are available for China58, India, GCC Countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates), Korea and Australia59. Updated: MSCI defines the free float of a security as the proportion of tradable shares outstanding that are deemed to be available for purchase in the public equity markets by domestic investors56. Currently, MSCI Domestic Indexes based on the MSCI Global Investable Market Indexes Methodology are available for China54F57, India, GCC Countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates), Canada, Korea and Australia55F58.

MSCI ACWI: The disclosed Equity Universe Minimum Size Requirement was updated from the August 2025 Index Review level of USD 448 million for Developed and Emerging Markets and USD 10 million for Frontier Markets to USD 505 million and USD 12 million, respectively, at the November 2025 Index Review. Other differences are footnote-marker formatting and table layout changes. (Minor)

2026-10-02T00:00:00Z

The disclosed Equity Universe Minimum Size Requirement was updated from the August 2025 Index Review level of USD 448 million for Developed and Emerging Markets and USD 10 million for Frontier Markets to USD 505 million and USD 12 million, respectively, at the November 2025 Index Review. Other differences are footnote-marker formatting and table layout changes. Previous: First, the companies in the DM Equity Universe are sorted in descending order of full market capitalization and the cumulative coverage of the free float-adjusted market capitalization5 of the DM Equity Universe is calculated at each company. Cumulative Free Free Float- Float-Adjusted Full Market Adjusted Market Market Capitalization Capitalization Capitalization Rank of Company Country (USD millions) (USD millions) Coverage Company A 400,000 400,000 1.29% 1 a B a 360,000 360,000 2.45% 2 C a 275,000 250,000 3.26% 3 AD 250,000 250,000 4.06% 4 a AE b 240,000 190,000 4.68% 5 AF c 235,000 95,000 4.98% 6 GG a 230,000 230,000 5.73% 7 AH 225,000 225,000 6.45% 8 a AL d 210,000 210,000 7.13% 9 … … … … … … … … … … .. .. .. .. .. WWW f 1,000 250 98.99% 8,007 XYZ 150 130 99.00% 8,008 g YYY f 125 125 99.01% 8,009 ZZZZ f 100 100 99.01% 8,010 … … … … … Total 31,000,000 100.00% At the time of the August 2025 Index Review, the Equity Universe Minimum Size Requirement was USD 448 million for the Developed and Emerging Markets while it was USD 10 million for the Frontier Markets. Updated: First, the companies in the DM Equity Universe are sorted in descending order of full market capitalization and the cumulative coverage of the free float-adjusted market capitalization4F5 of the DM Equity Universe is calculated at each company. Cumulative Free Free Float- Float-Adjusted Full Market Adjusted Market Market Capitalization Capitalization Capitalization Rank of Company Country (USD millions) (USD millions) Coverage Company A a 400,000 400,000 1.29% 1 B a 360,000 360,000 2.45% 2 C a 275,000 250,000 3.26% 3 AD a 250,000 250,000 4.06% 4 AE b 240,000 190,000 4.68% 5 AF c 235,000 95,000 4.98% 6 GG a 230,000 230,000 5.73% 7 AH a 225,000 225,000 6.45% 8 AL d 210,000 210,000 7.13% 9 … … … … … … … … … … .. .. .. .. .. WWW f 1,000 250 98.99% 8,007 XYZ g 150 130 99.00% 8,008 YYY f 125 125 99.01% 8,009 ZZZZ f 100 100 99.01% 8,010 … … … … … Total 31,000,000 100.00% At the time of the November 2025 Index Review, the Equity Universe Minimum Size Requirement was USD 505 million for the Developed and Emerging Markets while it was USD 12 million for the Frontier Markets.

MSCI ACWI: The updated text removes the stray opening word "Indexes" from the paragraph. The rules for calculating DR number of shares and applying the parent constituent's FIF remain unchanged. (Editorial)

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The updated text removes the stray opening word "Indexes" from the paragraph. The rules for calculating DR number of shares and applying the parent constituent's FIF remain unchanged. Previous: Indexes The NOS of the DRs in the MSCI DR Indexes is based on the maximum DRs that could be issued by dividing the number of shares of the Parent Index by the DR ratio (ratio between the common shares and the DRs). Updated: The NOS of the DRs in the MSCI DR Indexes is based on the maximum DRs that could be issued by dividing the number of shares of the Parent Index by the DR ratio (ratio between the common shares and the DRs).

MSCI ACWI: The updated text removes the stray heading fragment "and Ranges" that appeared immediately before the opening sentence. The statement that Global Minimum Size References and ranges are calculated daily remains unchanged. (Editorial)

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The updated text removes the stray heading fragment "and Ranges" that appeared immediately before the opening sentence. The statement that Global Minimum Size References and ranges are calculated daily remains unchanged. Previous: and Ranges As markets evolve due to events and price performance, the Global Minimum Size Reference and ranges are calculated on a daily basis using the following general principles. Updated: As markets evolve due to events and price performance, the Global Minimum Size Reference and ranges are calculated on a daily basis using the following general principles.

MSCI ACWI: The market-closure review principles are unchanged. The associated footnotes were renumbered from 54–56 to 53–55, and the section moved from page 117 to page 115. (Editorial)

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The market-closure review principles are unchanged. The associated footnotes were renumbered from 54–56 to 53–55, and the section moved from page 117 to page 115. Previous: 54 The suspension status is taken as per the close of the regular trading time of the relevant stock exchange. 55 In cases where the Index Review effective date falls on a Tuesday, the postponement for suspended securities in indexes calculated from Sunday to Thursday will be reviewed on Sunday. 56 Non-current IMI constituent Updated: 53 The suspension status is taken as per the close of the regular trading time of the relevant stock exchange. 54 In cases where the Index Review effective date falls on a Tuesday, the postponement for suspended securities in indexes calculated from Sunday to Thursday will be reviewed on Sunday. 55 Non-current IMI constituent

MSCI ACWI: The updated text removes the stray opening word "Reviews" and changes the footnote reference markers in the trading-suspension policy. No substantive rule, timing condition, threshold, or security treatment changes. (Editorial)

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The updated text removes the stray opening word "Reviews" and changes the footnote reference markers in the trading-suspension policy. No substantive rule, timing condition, threshold, or security treatment changes. Previous: Reviews MSCI will postpone the implementation of Index Review changes for IMI constituents, as well as Micro Cap constituents, when the affected securities are suspended54 on the day prior to the effective implementation date55 of the Index Review. Additions of Chinese securities to all MSCI Indexes56 (including pro forma MSCI China Indexes, MSCI China A Inclusion Indexes, MSCI China All Shares Indexes and MSCI China A Onshore Indexes) will be cancelled instead of postponed if the securities are suspended on the day prior to the effective implementation of the Index Review. Updated: MSCI will postpone the implementation of Index Review changes for IMI constituents, as well as Micro Cap constituents, when the affected securities are suspended 51F53 on the day prior to the effective implementation date52F54 of the Index Review. Additions of Chinese securities to all MSCI Indexes53F55 (including pro forma MSCI China Indexes, MSCI China A Inclusion Indexes, MSCI China All Shares Indexes and MSCI China A Onshore Indexes) will be cancelled instead of postponed if the securities are suspended on the day prior to the effective implementation of the Index Review.

MSCI ACWI: The updated version removes the standalone line "Market Closures during Index Reviews" from the provided text. No operative rule, threshold, procedure, or affected-security condition is added or removed in the supplied passage. (Editorial)

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The updated version removes the standalone line "Market Closures during Index Reviews" from the provided text. No operative rule, threshold, procedure, or affected-security condition is added or removed in the supplied passage. Previous: Market Closures during Index Reviews

MSCI ACWI: The liquidity retention rules for existing Investable Market Index constituents are unchanged, including the 5% ATVR and 80%/70% Frequency of Trading thresholds, listing priority, and the Emerging Markets liquidity-adjustment exception. The update removes the stray heading word "Rebalancings" from the opening sentence and renumbers the associated footnotes from 51–53 to 50–52, with corresponding page shifts. (Editorial)

2026-10-02T00:00:00Z

The liquidity retention rules for existing Investable Market Index constituents are unchanged, including the 5% ATVR and 80%/70% Frequency of Trading thresholds, listing priority, and the Emerging Markets liquidity-adjustment exception. The update removes the stray heading word "Rebalancings" from the opening sentence and renumbers the associated footnotes from 51–53 to 50–52, with corresponding page shifts. Previous: Rebalancings Existing constituents of the Investable Market Indexes can remain in the Investable Market Indexes only if: The 3-month ATVR and Frequency of Trading are at least 5% and 80% respectively for Developed Markets The 3-month ATVR and Frequency of Trading are at least 5% and 70% respectively for Emerging Markets If the listing used for an existing constituent no longer meets the above liquidity requirements, other eligible listings that do meet such liquidity requirements will be used to represent the security in the Market Investable Equity Universe. If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing51 Foreign listing in the same geographical region 52 Foreign listing in a different geographical region 53 If an existing constituent of a Standard Index in Emerging Markets fails to meet the liquidity requirements, but has a weight of more than 10% in the respective country index and its free float adjusted market capitalization is above 0.5 times the Global Minimum Size Reference for Emerging Markets, then such constituent will remain in the index. 51 If the security has two or more local listings, then the listing with the highest 3-month ATVR would be used. 52 MSCI classifies markets into three main geographical regions: EMEA, Asia Pacific and Americas. 53 If the security has two or more foreign listings in a different geographical region, then the listing with the highest 3-month ATVR would be used. Updated: Existing constituents of the Investable Market Indexes can remain in the Investable Market Indexes only if: The 3-month ATVR and Frequency of Trading are at least 5% and 80% respectively for Developed Markets The 3-month ATVR and Frequency of Trading are at least 5% and 70% respectively for Emerging Markets If the listing used for an existing constituent no longer meets the above liquidity requirements, other eligible listings that do meet such liquidity requirements will be used to represent the security in the Market Investable Equity Universe. If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing48F50 Foreign listing in the same geographical region 49F51 Foreign listing in a different geographical region 50F52 If an existing constituent of a Standard Index in Emerging Markets fails to meet the liquidity requirements, but has a weight of more than 10% in the respective country index and its free float adjusted market capitalization is above 0.5 times the Global Minimum Size Reference for Emerging Markets, then such constituent will remain in the index. 50 If the security has two or more local listings, then the listing with the highest 3-month ATVR would be used. 51 MSCI classifies markets into three main geographical regions: EMEA, Asia Pacific and Americas. 52 If the security has two or more foreign listings in a different geographical region, then the listing with the highest 3-month ATVR would be used.

MSCI ACWI: The updated text removes the run-in heading phrase "Light Rebalancings" from the first sentence and renumbers the intervening footnote from 50 to 49. The eligibility criteria, market-capitalization thresholds, assignment rules, and IPO timing treatment are unchanged. (Editorial)

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The updated text removes the run-in heading phrase "Light Rebalancings" from the first sentence and renumbers the intervening footnote from 50 to 49. The eligibility criteria, market-capitalization thresholds, assignment rules, and IPO timing treatment are unchanged. Previous: Light Rebalancings Securities that are currently not constituents of the Investable Market Indexes and that meet the investability screens described in Sub-section 2.2 (with the exception of the Minimum Length of Trading Requirement), including large IPOs that were not added earlier, and in addition meet the requirements listed below, are added to the Standard Index: A full market capitalization that exceeds 1.8 times the Interim Market Size-Segment Cutoff for the Standard Size-Segment A free float-adjusted market capitalization that exceeds 1.8 times one-half the Interim Market Size-Segment Cutoff for the Standard Size-Segment Securities that exhibit extreme price increase are not eligible for inclusion into the Standard Indexes. 50 Applicable only for securities still subject to FOLs. Updated: Securities that are currently not constituents of the Investable Market Indexes and that meet the investability screens described in Sub-section 2.2 (with the exception of the Minimum Length of Trading Requirement), including large IPOs that were not added earlier, and in addition meet the requirements listed below, are added to the Standard Index: A full market capitalization that exceeds 1.8 times the Interim Market Size-Segment Cutoff for the Standard Size-Segment A free float-adjusted market capitalization that exceeds 1.8 times one-half the Interim Market Size-Segment Cutoff for the Standard Size-Segment Securities that exhibit extreme price increase are not eligible for inclusion into the Standard Indexes. 49 Applicable only for securities still subject to FOLs.

MSCI ACWI: The updated text reformats the foreign-room adjustment-factor table and changes footnote/reference markers, including renumbering the relevant footnote from 49 to 48. The foreign-room thresholds, adjustment factors, quarterly review, 12-month upward-adjustment condition, and India/Mexico treatment remain unchanged. (Editorial)

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The updated text reformats the foreign-room adjustment-factor table and changes footnote/reference markers, including renumbering the relevant footnote from 49 to 48. The foreign-room thresholds, adjustment factors, quarterly review, 12-month upward-adjustment condition, and India/Mexico treatment remain unchanged. Previous: foreign room >= 15% <= foreign 7.5% <= foreign 3.75% <= foreign foreign room 25% room < 25% room < 15% room < 7.5% <3.75% Current adjustment factor = 1 1 1 0.25 0 Current adjustment factor = 0.25 1 0.25 0 If the foreign room of an existing constituent decreases below 3.75%, then the adjustment factor equals 0 49. 49 Based on information available from the country regulatory authority, the adjustment factor equals 0 for securities where further purchases are restricted due to foreign ownership restriction. During the Index Review, for any existing IMI constituents whose weight is decreased as a result of a change in the adjustment factor due to low foreign room, MSCI will continue to monitor any potential increased foreign room due to an increase in FOL50 until five business days before the effective date of that Index Review. Updated: foreign room >= 15% <= foreign 7.5% <= foreign 3.75% <= foreign foreign room 25% room < 25% room < 15% room < 7.5% <3.75% Current adjustment factor = 1 1 1 0.25 0 Current adjustment factor = 0.25 1 0.25 0 If the foreign room of an existing constituent decreases below 3.75%, then the adjustment factor equals 046F48. 48 Based on information available from the country regulatory authority, the adjustment factor equals 0 for securities where further purchases are restricted due to foreign ownership restriction. During the Index Review, for any existing IMI constituents whose weight is decreased as a result of a change in the adjustment factor due to low foreign room, MSCI will continue to monitor any potential increased foreign room due to an increase in FOL 47F49 until five business days before the effective date of that Index Review.

MSCI ACWI: The substantive communication-date policy is unchanged. The only modification is the renumbering of the two footnotes from 47 and 48 to 46 and 47; the section also moves from page 110 to page 108. (Editorial)

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The substantive communication-date policy is unchanged. The only modification is the renumbering of the two footnotes from 47 and 48 to 46 and 47; the section also moves from page 110 to page 108. Previous: 47 MSCI uses the closing bid/ask as provided by its data source. If these are unavailable, then the most recent bid/ask prices are used instead. 48 The 10-day standard deviation of daily returns is annualized by multiplying it by the square root of 260. Updated: 46 MSCI uses the closing bid/ask as provided by its data source. If these are unavailable, then the most recent bid/ask prices are used instead. 47 The 10-day standard deviation of daily returns is annualized by multiplying it by the square root of 260.

MSCI ACWI: The market monitoring criteria for a potential light rebalancing are unchanged: the last ten business days, any three days of spread/volatility breaches, and exchange closures affecting 20% of constituents remain the same. The update only reformats bullet placement and renumbers footnote references from 47/48 to 46/47. (Editorial)

2026-10-02T00:00:00Z

The market monitoring criteria for a potential light rebalancing are unchanged: the last ten business days, any three days of spread/volatility breaches, and exchange closures affecting 20% of constituents remain the same. The update only reformats bullet placement and renumbers footnote references from 47/48 to 46/47. Previous: MSCI sets the last ten business days of the month prior to the announcement date of an Index Review as the “market monitoring period.” If within the “market monitoring period”, one of the following two conditions related to the Market Liquidity and Market Functioning pillars of the Market Monitoring Framework is met, a review by the relevant MSCI Index Committee(s) whether or not to switch to a “light rebalancing” would be triggered: - Market Liquidity, for any 3 days within the “market monitoring period” o MSCI ACWI-weighted bid-ask spread, measured as index market capitalizationweighted bid-ask spread ( [ask-bid] / ask )47, breaching 0.19% AND o MSCI ACWI volatility, measured as the annualized standard deviation48 of the daily o returns of the MSCI ACWI over the past 10 business days, breaching 0.55 - OR - Market Functioning Unexpected full day or partial stock exchange closures impacting 20% of MSCI o ACWI constituents cumulatively over the “market monitoring period” Updated: MSCI sets the last ten business days of the month prior to the announcement date of an Index Review as the “market monitoring period.” If within the “market monitoring period”, one of the following two conditions related to the Market Liquidity and Market Functioning pillars of the Market Monitoring Framework is met, a review by the relevant MSCI Index Committee(s) whether or not to switch to a “light rebalancing” would be triggered: Market Liquidity, for any 3 days within the “market monitoring period” - MSCI ACWI-weighted bid-ask spread, measured as index market capitalizationo weighted bid-ask spread ( [ask-bid] / ask )46, breaching 0.19% AND o MSCI ACWI volatility, measured as the annualized standard deviation47 of the daily o returns of the MSCI ACWI over the past 10 business days, breaching 0.55 - OR - Market Functioning Unexpected full day or partial stock exchange closures impacting 20% of MSCI o ACWI constituents cumulatively over the “market monitoring period”

MSCI ACWI: The update changes only the formatting/encoding of footnote reference markers in the eligible equity securities paragraph, such as "(REITs)2" becoming "(REITs) 1F2" and moving the marker for footnote 4 to a separate line. No eligibility categories, criteria, or other index rules are changed. (Editorial)

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The update changes only the formatting/encoding of footnote reference markers in the eligible equity securities paragraph, such as "(REITs)2" becoming "(REITs) 1F2" and moving the marker for footnote 4 to a separate line. No eligibility categories, criteria, or other index rules are changed. Previous: All listed equity securities, including Real Estate Investment Trusts (REITs)2 and certain income trusts listed in Canada3 are eligible for inclusion in the Equity Universe. Conversely, mutual funds, ETFs, equity derivatives, and most investment trusts are not eligible for inclusion in the Equity Universe.4 Updated: All listed equity securities, including Real Estate Investment Trusts (REITs) 1F2 and certain income trusts listed in Canada2F3 are eligible for inclusion in the Equity Universe. Conversely, mutual funds, ETFs, equity derivatives, and most investment trusts are not eligible for inclusion in the Equity Universe. 3F4

MSCI ACWI: The updated version removes the standalone line "Switch to a Light Rebalancing under Conditions of Market Stress." The provided text does not include any operative rule, threshold, trigger, or procedural change accompanying that removal. (Editorial)

2026-10-02T00:00:00Z

The updated version removes the standalone line "Switch to a Light Rebalancing under Conditions of Market Stress." The provided text does not include any operative rule, threshold, trigger, or procedural change accompanying that removal. Previous: Switch to a Light Rebalancing under Conditions of Market Stress

MSCI ACWI: The updated text removes the extraneous opening word "Trading" from the section. The FIF calculation methodology for depository receipts whose underlying shares are not available for trading is otherwise unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated text removes the extraneous opening word "Trading" from the section. The FIF calculation methodology for depository receipts whose underlying shares are not available for trading is otherwise unchanged. Previous: Trading Starting from the May 2024 Index Review, MSCI will apply the below approach to calculate the Foreign Inclusion Factor (FIF) for Depository Receipts (DRs) where underlying shares are not available for trading. Updated: Starting from the May 2024 Index Review, MSCI will apply the below approach to calculate the Foreign Inclusion Factor (FIF) for Depository Receipts (DRs) where underlying shares are not available for trading.

MSCI ACWI: The updated section changes only the footnote markers for financial institutions and the Local Line price calculation, renumbering them from 45/46 to 44/45 (with altered marker formatting). The NVDR rules, 25% limit, FIF formulas, foreign-room treatment, and early-inclusion requirements are unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated section changes only the footnote markers for financial institutions and the Local Line price calculation, renumbering them from 45/46 to 44/45 (with altered marker formatting). The NVDR rules, 25% limit, FIF formulas, foreign-room treatment, and early-inclusion requirements are unchanged. Previous: However, there is a limit on the amount of NVDRs that may be issued for financial institutions45 (generally set at 25%). The company full market capitalization is calculated based on the price46 of the Local Line. 45 Financial institutions including banks and finance companies that accept deposits from the public 46 This will result in changes to the company full market capitalization of BANGKOK BANK and KASIKORNBANK. Updated: However, there is a limit on the amount of NVDRs that may be issued for financial institutions 44F44 (generally set at 25%). The company full market capitalization is calculated based on the price45F45 of the Local Line. 44 Financial institutions including banks and finance companies that accept deposits from the public 45 This will result in changes to the company full market capitalization of BANGKOK BANK and KASIKORNBANK.

MSCI ACWI: The updated text removes the extraneous leading word "Issues" from the first sentence of the section. The eligibility, deletion, review, free-float, and 12-month re-addition rules are unchanged. (Editorial)

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The updated text removes the extraneous leading word "Issues" from the first sentence of the section. The eligibility, deletion, review, free-float, and 12-month re-addition rules are unchanged. Previous: Issues Securities of companies included on the Hong Kong Securities and Futures Commission (SFC) high shareholding concentration notices are not eligible for inclusion in the MSCI GIMI. Updated: Securities of companies included on the Hong Kong Securities and Futures Commission (SFC) high shareholding concentration notices are not eligible for inclusion in the MSCI GIMI.

MSCI ACWI: The footnote attached to the case-by-case Limited Investability Factor analysis was renumbered from 44 to 43, with the updated inline marker rendered as “43F43.” The foreign-room country table was also reformatted onto fewer extracted lines. No FIF, LIF, rounding, foreign-room, eligibility, or weighting rule was changed. (Editorial)

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The footnote attached to the case-by-case Limited Investability Factor analysis was renumbered from 44 to 43, with the updated inline marker rendered as “43F43.” The foreign-room country table was also reformatted onto fewer extracted lines. No FIF, LIF, rounding, foreign-room, eligibility, or weighting rule was changed. Previous: Therefore, where deemed necessary, a LIF will be determined and applied based on an extensive, case-by-case analysis 44. 44 For example- In Iceland, MSCI applies a LIF of 0 due to investability issues in Fisheries companies. Eligible Markets Country Name AUSTRALIA Developed Markets (DM) JAPAN CHINA INDIA INDONESIA KOREA PHILIPPINES Emerging Markets (EM) QATAR SAUDI ARABIA TAIWAN THAILAND* UNITED ARAB EMIRATES Updated: Therefore, where deemed necessary, a LIF will be determined and applied based on an extensive, case-by-case analysis 43F43. 43 For example- In Iceland, MSCI applies a LIF of 0 due to investability issues in Fisheries companies. Eligible Markets Country Name AUSTRALIA Developed Markets (DM) JAPAN CHINA INDIA INDONESIA KOREA PHILIPPINES Emerging Markets (EM) QATAR SAUDI ARABIA TAIWAN THAILAND* UNITED ARAB EMIRATES

MSCI ACWI: The updated version deletes an introductory overview line and the repeated section heading at the beginning of the passage. The substantive description of free float, including its basis in public shareholder data and classification of strategic and non-strategic investors, is unchanged. (Editorial)

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The updated version deletes an introductory overview line and the repeated section heading at the beginning of the passage. The substantive description of free float, including its basis in public shareholder data and classification of strategic and non-strategic investors, is unchanged. Previous: MSCI’s definition of free float Assigning a free float-adjustment factor to each security (Foreign Inclusion Factor or FIF) Calculating the free float-adjusted market capitalization of each security The free float-adjusted market capitalization is used to calculate the weights of the securities in the indexes. Defining and Estimating Free Float MSCI’s estimation of free float is based solely on publicly available shareholder information. Updated: MSCI’s estimation of free float is based solely on publicly available shareholder information.

MSCI ACWI: The updated introduction explicitly enumerates the free-float process: defining and estimating free float available to foreign investors, assigning a Foreign Inclusion Factor, and calculating free float-adjusted market capitalization. It also states that free float-adjusted market capitalization is used to calculate index weights. (Minor)

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The updated introduction explicitly enumerates the free-float process: defining and estimating free float available to foreign investors, assigning a Foreign Inclusion Factor, and calculating free float-adjusted market capitalization. It also states that free float-adjusted market capitalization is used to calculate index weights. Previous: MSCI calculates the free float-adjusted market capitalization of each security in the equity index universe. The process of free float-adjusting market capitalization involves: Updated: MSCI calculates the free float-adjusted market capitalization of each security in the equity index universe. The process of free float-adjusting market capitalization involves: Defining and estimating the free float available to foreign investors for each security, using MSCI’s definition of free float Assigning a free float-adjustment factor to each security (Foreign Inclusion Factor or FIF) Calculating the free float-adjusted market capitalization of each security The free float-adjusted market capitalization is used to calculate the weights of the securities in the indexes.

MSCI ACWI: The update removes the standalone heading line "U.S. Executive Order 13959" from the appendix. The substantive treatment of securities affected by Executive Order 13959, including ineligibility, deletion, adjustment factors, and universe retention, remains unchanged. (Editorial)

2026-10-02T00:00:00Z

The update removes the standalone heading line "U.S. Executive Order 13959" from the appendix. The substantive treatment of securities affected by Executive Order 13959, including ineligibility, deletion, adjustment factors, and universe retention, remains unchanged. Previous: U.S. Executive Order 13959

MSCI ACWI: The appendix updates the illustrative example of the two-index-review lag from August 2025/February 2026 to November 2025/May 2026. It also updates the latest review statement to say that no additional markets met the requirement at the November 2025 review. The eligibility thresholds, country list, and other foreign-listing rules are unchanged; bullet formatting and footnote numbering were also updated. (Editorial)

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The appendix updates the illustrative example of the two-index-review lag from August 2025/February 2026 to November 2025/May 2026. It also updates the latest review statement to say that no additional markets met the requirement at the November 2025 review. The eligibility thresholds, country list, and other foreign-listing rules are unchanged; bullet formatting and footnote numbering were also updated. Previous: Calculate the aggregate free float-adjusted market capitalization of all such securities This aggregate market capitalization of securities represented by foreign listings should represent at least: - - 5% of the free float-adjusted market capitalization of the relevant MSCI Country IMI 43, and 0.05% of the free float-adjusted market capitalization of the MSCI ACWI IMI. For example, foreign listings will become eligible for a country at the February 2026 Index Review once that country meets the Foreign Listing Materiality Requirement at the August 2025 Index Review. 43 Securities represented by foreign listings are included in the free float-adjusted market capitalization of the MSCI Country IMI for the purpose of this calculation. At the August 2025 Index Review, no additional markets met the Foreign Listing Materiality Requirement. Updated: Calculate the aggregate free float-adjusted market capitalization of all such securities This aggregate market capitalization of securities represented by foreign listings should represent at least: - 5% of the free float-adjusted market capitalization of the relevant MSCI Country IMI 42F42, and - 0.05% of the free float-adjusted market capitalization of the MSCI ACWI IMI. For example, foreign listings will become eligible for a country at the May 2026 Index Review once that country meets the Foreign Listing Materiality Requirement at the November 2025 Index Review. 42 Securities represented by foreign listings are included in the free float-adjusted market capitalization of the MSCI Country IMI for the purpose of this calculation. At the November 2025 Index Review, no additional markets met the Foreign Listing Materiality Requirement.

MSCI ACWI: The update renumbers the footnotes in the Country Specific Cases section and changes some inline footnote markers to linked-reference formatting (for example, the China A-share footnote changes from 39 to 38). No country classification, universe, eligibility, or selection rule is changed. (Editorial)

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The update renumbers the footnotes in the Country Specific Cases section and changes some inline footnote markers to linked-reference formatting (for example, the China A-share footnote changes from 39 to 38). No country classification, universe, eligibility, or selection rule is changed. Previous: China: The MSCI China universe includes companies incorporated in Mainland China and listed in the form of A shares39, CDRs or B shares on the Shanghai Stock Exchange (in US$) or Shenzhen Stock Exchange (in HK$), or H shares on the Hong Kong Stock Exchange (in HK$). 39 Currently Stock Connect eligible Large Cap and Mid Cap China A shares/CDRs are eligible for inclusion in the MSCI China Index. However, such securities listed in the US and resulting from reverse mergers 40 are not eligible for index inclusion. 41 Greece: The MSCI Greece universe includes companies incorporated in Cyprus that are listed on the Athens Exchange. 42 Countries subject to economic sanctions: MSCI does not cover certain countries for which significant economic sanctions are applied. 40 Companies resulting from reverse merger but are later listed through a formal IPO will be considered eligible. 41 Effective since the November 2015 Index Review. 42 Effective since the May 2009 Index Review. Updated: China: The MSCI China universe includes companies incorporated in Mainland China and listed in the form of A shares38F38, CDRs or B shares on the Shanghai Stock Exchange (in US$) or Shenzhen Stock Exchange (in HK$), or H shares on the Hong Kong Stock Exchange (in HK$). 38 Currently Stock Connect eligible Large Cap and Mid Cap China A shares/CDRs are eligible for inclusion in the MSCI China Index. However, such securities listed in the US and resulting from reverse mergers39F39 are not eligible for index inclusion. 40F40 Greece: The MSCI Greece universe includes companies incorporated in Cyprus that are listed on the Athens Exchange.41F41 Countries subject to economic sanctions: MSCI does not cover certain countries for which significant economic sanctions are applied. 39 Companies resulting from reverse merger but are later listed through a formal IPO will be considered eligible. 40 Effective since the November 2015 Index Review. 41 Effective since the May 2009 Index Review.

MSCI ACWI: The only change is the formatting of the footnote reference after "Market," from "Market1" to "Market0F1." No index construction, eligibility, selection, weighting, or other methodological rule was changed. (Editorial)

2026-10-02T00:00:00Z

The only change is the formatting of the footnote reference after "Market," from "Market1" to "Market0F1." No index construction, eligibility, selection, weighting, or other methodological rule was changed. Previous: The MSCI Global Investable Markets Indexes are constructed and maintained at an individual Market1 level. Updated: The MSCI Global Investable Markets Indexes are constructed and maintained at an individual Market0F1 level.

MSCI ACWI: The minimum constituent counts (5 for DM, 3 for EM, and 1 for FM) are unchanged. The index continuity table is updated from the August 2025 to the November 2025 Index Review: Czech Republic is removed from the Emerging Markets list, Egypt appears under Emerging Markets rather than Frontier Markets, and New Zealand, Serbia, and Peru remain listed. (Minor)

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The minimum constituent counts (5 for DM, 3 for EM, and 1 for FM) are unchanged. The index continuity table is updated from the August 2025 to the November 2025 Index Review: Czech Republic is removed from the Emerging Markets list, Egypt appears under Emerging Markets rather than Frontier Markets, and New Zealand, Serbia, and Peru remain listed. Previous: The following table below shows those markets where after the application of the index maintenance methodology, the Standard Index contains less than the minimum number of constituents, and hence the index continuity rules have been applied to achieve the minimum number of constituents as part of the August 2025 Index Review. Developed Markets Emerging Markets Frontier Markets New Zealand Czech Republic Serbia Egypt Peru Updated: The following table below shows those markets where after the application of the index maintenance methodology, the Standard Index contains less than the minimum number of constituents, and hence the index continuity rules have been applied to achieve the minimum number of constituents as part of the November 2025 Index Review. Developed Markets Emerging Markets Frontier Markets New Zealand Egypt Serbia Peru

MSCI ACWI: The market-classification Size and Liquidity thresholds were increased for both entry and maintenance tests. Full market-cap thresholds rose from USD 181/3,338/6,676 mm to USD 205/3,577/7,153 mm for Frontier/Emerging/Developed markets, and float market-cap thresholds rose from USD 90/1,669/3,338 mm to USD 102/1,788/3,577 mm. The footnote also changes the referenced index review from August 2025 to November 2025; ATVR and company-count requirements remain unchanged. (Minor)

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The market-classification Size and Liquidity thresholds were increased for both entry and maintenance tests. Full market-cap thresholds rose from USD 181/3,338/6,676 mm to USD 205/3,577/7,153 mm for Frontier/Emerging/Developed markets, and float market-cap thresholds rose from USD 90/1,669/3,338 mm to USD 102/1,788/3,577 mm. The footnote also changes the referenced index review from August 2025 to November 2025; ATVR and company-count requirements remain unchanged. Previous: Criteria Frontier Emerging Developed A Economic Development Country GNI per capita 25% above the A.1 Sustainability of economic development No requirement No requirement World Bank high income threshold * for 3 consecutive years B Size and Liquidity Requirements B.1 Entry requirement Number of companies meeting the following Standard 1 3 5 Index criteria over each of the last 8 Index Reviews Company size (full market cap) ** USD 181 mm USD 3,338 mm USD 6,676 mm Security size (float market cap) ** USD 90 mm USD 1,669 mm USD 3,338 mm Security liquidity 2.5% ATVR 15% ATVR 20% ATVR B.2 Maintenance requirements Number of companies meeting the following Standard - 1 1 Index criteria Company size (full market cap) ** USD 181 mm USD 3,338 mm USD 6,676 mm Security size (float market cap) ** USD 90 mm USD 1,669 mm USD 3,338 mm Security liquidity 2.5% ATVR 15% ATVR 20% ATVR Minimum number of securities in the Market Investable 1 3 5 Equity Universe C Market Accessibility Criteria C.1 Openness to foreign ownership At least some Significant Very high C.2 Ease of capital inflows / outflows At least partial Significant Very high C.3 Efficiency of operational framework Modest Good and tested Very high C.4 Availability of investment instrument High High Unrestricted C.5 Stability of the institutional framework Modest Modest Very high * High income threshold: 2024 GNI per capita of USD 13,935 (World Bank, Atlas method) ** Minimum in use for the August 2025 Index Review, updated on a quarterly basis Updated: Criteria Frontier Emerging Developed A Economic Development Country GNI per capita 25% above the A.1 Sustainability of economic development No requirement No requirement World Bank high income threshold * for 3 consecutive years B Size and Liquidity Requirements B.1 Entry requirement Number of companies meeting the following Standard 1 3 5 Index criteria over each of the last 8 Index Reviews Company size (full market cap) ** USD 205 mm USD 3,577 mm USD 7,153 mm Security size (float market cap) ** USD 102 mm USD 1,788 mm USD 3,577 mm Security liquidity 2.5% ATVR 15% ATVR 20% ATVR B.2 Maintenance requirements Number of companies meeting the following Standard - 1 1 Index criteria Company size (full market cap) ** USD 205 mm USD 3,577 mm USD 7,153 mm Security size (float market cap) ** USD 102 mm USD 1,788 mm USD 3,577 mm Security liquidity 2.5% ATVR 15% ATVR 20% ATVR Minimum number of securities in the Market Investable 1 3 5 Equity Universe C Market Accessibility Criteria C.1 Openness to foreign ownership At least some Significant Very high C.2 Ease of capital inflows / outflows At least partial Significant Very high C.3 Efficiency of operational framework Modest Good and tested Very high C.4 Availability of investment instrument High High Unrestricted C.5 Stability of the institutional framework Modest Modest Very high * High income threshold: 2024 GNI per capita of USD 13,935 (World Bank, Atlas method) ** Minimum in use for the November 2025 Index Review, updated on a quarterly basis

MSCI ACWI: The updated methodology expands the list of regulatory boards that trigger a delay in IMI additions and Standard/Small Cap size-segment migrations during Index Reviews. It adds India's Short Term and Long Term Additional Surveillance Measure (ASM) boards and Korea's Investment Alert Issue and Investment Risk Issue boards. Affected securities are re-evaluated in the subsequent Index Review. (Major)

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The updated methodology expands the list of regulatory boards that trigger a delay in IMI additions and Standard/Small Cap size-segment migrations during Index Reviews. It adds India's Short Term and Long Term Additional Surveillance Measure (ASM) boards and Korea's Investment Alert Issue and Investment Risk Issue boards. Affected securities are re-evaluated in the subsequent Index Review. Previous: section 3.1.9) until three business days before the current Index Review effective date, MSCI will not implement any additions to IMI and size-segment migrations between Standard and Small Cap for securities that enter the following boards: Indonesia Watchlist Board due to Criteria 10 Taiwan Disposition Board Such securities will be re-evaluated for inclusion or size-segment migration in the subsequent Index Review. Updated: section 3.1.9) until three business days before the current Index Review effective date, MSCI will not implement any additions to IMI and size-segment migrations between Standard and Small Cap for securities that enter the following boards: India Short Term and Long Term Additional Surveillance Measure (ASM) Indonesia Watchlist Board due to Criteria 10 Korea Investment Alert Issue and Investment Risk Issue Taiwan Disposition Board Such securities will be re-evaluated for inclusion or size-segment migration in the subsequent Index Review.

MSCI ACWI: The updated ineligible-alert-board table removes the "S+ Framework" as a listed alert board for the Mumbai Stock Exchange. Other differences in the table are primarily cell reordering or reflow and do not alter the listed boards or footnotes. (Minor)

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The updated ineligible-alert-board table removes the "S+ Framework" as a listed alert board for the Mumbai Stock Exchange. Other differences in the table are primarily cell reordering or reflow and do not alter the listed boards or footnotes. Previous: Country Name Stock Exchange Alert Board Developed Markets Denmark Nasdaq Copenhagen Observation Status (1) Finland Nasdaq Helsinki Observation Status (1) Sweden Nasdaq Stockholm Observation Status (1) Singapore Singapore Exchange Watch List Japan Tokyo Stock Exchange Securities Under Supervision & Securities to Be Delisted (2) Emerging Markets China Shanghai Stock Exchange Special Treatment (ST / *ST) Shenzhen Stock Exchange Greece Athens Stock Exchange Under Surveillance Special Segment (4) India Mumbai Stock Exchange Z Group S+ Framework Graded Surveillance Measure (4) Enhanced Surveillance Measure (6) Insolvency Resolution Process (6) National Stock Exchange Graded Surveillance Measure (4) Enhanced Surveillance Measure (6) Insolvency Resolution Process (6) Indonesia Indonesia Stock Exchange Watch List Board (3) Korea Korea Exchange Administrative Issues Malaysia Bursa Malaysia PN17 Companies Taiwan Taiwan Stock Exchange Altered Trading Method (ATM) Taipei Stock Exchange Country Name Stock Exchange Alert Board Thailand Stock Exchange of Thailand Possible Delisting Companies Turkey Borsa Istanbul Watch List Companies Frontier Markets Estonia Nasdaq Tallinn Observation Status (1) Iceland Nasdaq Iceland Observation Status (1) Latvia Nasdaq Riga Observation Status (1) Lithuania Nasdaq Vilnius Observation Status (1) Pakistan Pakistan Stock Exchange Defaulter’s Segment (5) Sri Lanka Colombo Stock Exchange Watch List Board Second Board Vietnam Ho Chi Minh Stock Exchange CK is Subject to Control Updated: Country Name Stock Exchange Alert Board Developed Markets Denmark Nasdaq Copenhagen Observation Status (1) Finland Nasdaq Helsinki Observation Status (1) Sweden Nasdaq Stockholm Observation Status (1) Singapore Singapore Exchange Watch List Securities Under Supervision & Japan Tokyo Stock Exchange Securities to Be Delisted (2) Emerging Markets China Shanghai Stock Exchange Special Treatment (ST / *ST) Shenzhen Stock Exchange Greece Athens Stock Exchange Under Surveillance Special Segment (4) Mumbai Stock Exchange Z Group Graded Surveillance Measure (4) Enhanced Surveillance Measure (6) India Insolvency Resolution Process (6) National Stock Exchange Graded Surveillance Measure (4) Enhanced Surveillance Measure (6) Insolvency Resolution Process (6) Indonesia Indonesia Stock Exchange Watch List Board (3) Korea Korea Exchange Administrative Issues Malaysia Bursa Malaysia PN17 Companies Taiwan Stock Exchange Taiwan Altered Trading Method (ATM) Taipei Stock Exchange Thailand Stock Exchange of Thailand Possible Delisting Companies Turkey Borsa Istanbul Watch List Companies Frontier Markets Estonia Nasdaq Tallinn Observation Status (1) Iceland Nasdaq Iceland Observation Status (1) Country Name Stock Exchange Alert Board Latvia Nasdaq Riga Observation Status (1) Lithuania Nasdaq Vilnius Observation Status (1) Pakistan Pakistan Stock Exchange Defaulter’s Segment (5) Watch List Board Sri Lanka Colombo Stock Exchange Second Board Vietnam Ho Chi Minh Stock Exchange CK is Subject to Control

MSCI ACWI: The standalone-market table adds the Ukrainian Exchange as an exchange entry for Ukraine, while retaining PFTS Stock Exchange. This expands the eligible exchange/listing venues for Ukrainian securities; other differences are line-break and table-layout adjustments. (Minor)

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The standalone-market table adds the Ukrainian Exchange as an exchange entry for Ukraine, while retaining PFTS Stock Exchange. This expands the eligible exchange/listing venues for Ukrainian securities; other differences are line-break and table-layout adjustments. Previous: Country Name Stock Exchange Market Segment Eligibility of Foreign Listings ARGENTINA (10) Yes Free Market Banja Luka Stock Exchange Official Market BOSNIA HERZEGOVINA (1) - Free Market Sarajevo Stock Exchange Official Market Domestic Main Board BOTSWANA (2) Botswana Stock Exchange Yes Venture Capital Board BULGARIA (7) Bulgarian Stock Exchange Main Market - Main Market JAMAICA (2) Jamaica Stock Exchange - Junior Market USD Market LEBANON Beirut Stock Exchange - Yes MALTA (9) Malta Stock Exchange Regulated Main Market - Growth Board (12) NIGERIA (11) Nigerian Exchange Group - Main Board Premium Board PALESTINE (3) Palestine Exchange - - PANAMA (8) Yes First Tier TRINIDAD AND TOBAGO (4) Trinidad and Tobago Stock Exchange - Second Tier Small and Medium Enterprises (12) - UKRAINE (6) PFTS Stock Exchange Yes - ZIMBABWE (5) Zimbabwe Stock Exchange (Harare) - - (1) Added as standalone market at the May 2010 Index Review (2) Added as standalone markets at the November 2008 Index Review (3) Added as standalone market at the May 2013 Index Review (4) Reclassified from Frontier Markets to standalone market at the May 2011 Index Review (5) Added as standalone markets at the November 2010 Index Review (6) Reclassified from Frontier Markets to standalone market at the August 2015 Index Review (7) Reclassified from Frontier Markets to standalone market at the August 2016 Index Review (8) Added as standalone market at the May 2017 Index Review, currently only US listed securities eligible (9) Added as standalone market at the May 2019 Index Review (10) Reclassified from Emerging Markets to standalone market at the November 2021 Index Review (11) Reclassified from Frontier Markets to standalone market at the February 2024 Index Review (12) Listings on this market segment are eligible for the MSCI Indexes as part of the August 2024 Index Review Updated: Country Name Stock Exchange Market Segment Eligibility of Foreign Listings ARGENTINA (10) Yes Free Market Banja Luka Stock Exchange Official Market BOSNIA HERZEGOVINA (1) - Free Market Sarajevo Stock Exchange Official Market Domestic Main Board BOTSWANA (2) Botswana Stock Exchange Yes Venture Capital Board BULGARIA (7) Bulgarian Stock Exchange Main Market - Main Market JAMAICA (2) Jamaica Stock Exchange Junior Market - USD Market LEBANON Beirut Stock Exchange - Yes MALTA (9) Malta Stock Exchange Regulated Main Market - Growth Board (12) NIGERIA (11) Nigerian Exchange Group Main Board - Premium Board PALESTINE (3) Palestine Exchange - - PANAMA (8) Yes First Tier TRINIDAD AND TOBAGO (4) Trinidad and Tobago Stock Exchange Second Tier - Small and Medium Enterprises (12) PFTS Stock Exchange - UKRAINE (6) Yes Ukrainian Exchange - ZIMBABWE (5) Zimbabwe Stock Exchange (Harare) - - (1) Added as standalone market at the May 2010 Index Review (2) Added as standalone markets at the November 2008 Index Review (3) Added as standalone market at the May 2013 Index Review (4) Reclassified from Frontier Markets to standalone market at the May 2011 Index Review (5) Added as standalone markets at the November 2010 Index Review (6) Reclassified from Frontier Markets to standalone market at the August 2015 Index Review (7) Reclassified from Frontier Markets to standalone market at the August 2016 Index Review (8) Added as standalone market at the May 2017 Index Review, currently only US listed securities eligible (9) Added as standalone market at the May 2019 Index Review (10) Reclassified from Emerging Markets to standalone market at the November 2021 Index Review (11) Reclassified from Frontier Markets to standalone market at the February 2024 Index Review (12) Listings on this market segment are eligible for the MSCI Indexes as part of the August 2024 Index Review

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

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MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

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MSCI ACWI: The updated version removes the standalone word "Indexes" from section 6.4. No index methodology rule, threshold, formula, or affected security set is changed. (Editorial)

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The updated version removes the standalone word "Indexes" from section 6.4. No index methodology rule, threshold, formula, or affected security set is changed. Previous: Indexes

MSCI ACWI: The update only renumbers the footnotes supporting the eligible-listing priority rules, from 36–38 to 35–37. The liquidity thresholds, listing-priority substance, and Frontier Markets treatment are unchanged. (Editorial)

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The update only renumbers the footnotes supporting the eligible-listing priority rules, from 36–38 to 35–37. The liquidity thresholds, listing-priority substance, and Frontier Markets treatment are unchanged. Previous: If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing36 Foreign listing in the same geographical region 37 Foreign listing in a different geographical region 38. 36 If the security has two or more local listings, then the listing with the highest 3-month ATVR would be used. 37 MSCI classifies markets into three main geographical regions: EMEA, Asia Pacific and Americas. 38 If the security has two or more foreign listings in a different geographical region, then the listing with the highest 3-month ATVR would be used. Updated: If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing35F35 Foreign listing in the same geographical region 36F36 Foreign listing in a different geographical region 37F37. 35 If the security has two or more local listings, then the listing with the highest 3-month ATVR would be used. 36 MSCI classifies markets into three main geographical regions: EMEA, Asia Pacific and Americas. 37 If the security has two or more foreign listings in a different geographical region, then the listing with the highest 3-month ATVR would be used.

MSCI ACWI: The updated section removes the stray opening words "Markets Indexes" and renumbers footnote 35 to footnote 34. No index construction, eligibility, liquidity, size, continuity, or corporate-action rule changes. (Editorial)

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The updated section removes the stray opening words "Markets Indexes" and renumbers footnote 35 to footnote 34. No index construction, eligibility, liquidity, size, continuity, or corporate-action rule changes. Previous: Markets Indexes This section should be read in conjunction with the earlier Section 2 ‘Constructing the MSCI Global Investable Market Indexes’ and Section 3 ‘Maintaining the MSCI Global Investable Market Indexes’. 35 E.g. Luxembourg or Cyprus. These countries are part of the developed markets universe. Given their modest size these markets are not included in the MSCI World Index. Updated: This section should be read in conjunction with the earlier Section 2 ‘Constructing the MSCI Global Investable Market Indexes’ and Section 3 ‘Maintaining the MSCI Global Investable Market Indexes’. 34 E.g. Luxembourg or Cyprus. These countries are part of the developed markets universe. Given their modest size these markets are not included in the MSCI World Index.

MSCI ACWI: The methodology book's "last updated" date was changed from August 2025 to November 2025. No index construction, maintenance, eligibility, weighting, or calculation rules were modified. (Editorial)

2026-10-02T00:00:00Z

The methodology book's "last updated" date was changed from August 2025 to November 2025. No index construction, maintenance, eligibility, weighting, or calculation rules were modified. Previous: This book was last updated in August 2025. Updated: This book was last updated in November 2025.

MSCI ACWI: The criteria defining the initial frontier-market universe are unchanged. The only edit is the footnote/reference marker after “developed markets universe,” which changes from “35” to “34F34,” with a preceding space. (Editorial)

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The criteria defining the initial frontier-market universe are unchanged. The only edit is the footnote/reference marker after “developed markets universe,” which changes from “35” to “34F34,” with a preceding space. Previous: MSCI starts by considering all equity markets not included in the MSCI Emerging Markets Index, that: demonstrate a relative openness to and accessibility for foreign investors are generally not considered as part of the developed markets universe35 do not belong to countries undergoing a period of extreme economic (e.g., hyperinflation) or political instability (e.g., civil war) Updated: MSCI starts by considering all equity markets not included in the MSCI Emerging Markets Index, that: demonstrate a relative openness to and accessibility for foreign investors are generally not considered as part of the developed markets universe 34F34 do not belong to countries undergoing a period of extreme economic (e.g., hyperinflation) or political instability (e.g., civil war)

MSCI ACWI: The updated methodology deletes Section 3.3.2, “IPOs and Other Early Inclusions,” in its entirety. This removes the announcement windows for early inclusions following large IPOs and large secondary offerings, MSCI’s no-comment policy for future listings and pending events, and the special STAR Market early-inclusion announcement and market-cap timing provision. (Minor)

2026-10-02T00:00:00Z

The updated methodology deletes Section 3.3.2, “IPOs and Other Early Inclusions,” in its entirety. This removes the announcement windows for early inclusions following large IPOs and large secondary offerings, MSCI’s no-comment policy for future listings and pending events, and the special STAR Market early-inclusion announcement and market-cap timing provision. Previous: Early inclusions of large IPOs in the MSCI Standard Index Series are announced no earlier than the first day of trading and no later than before the opening of the third day of trading in the market where the company has its primary listing 34. Early inclusions of already listed securities following large secondary offerings of new and/or existing shares are announced no earlier than shortly after the end of the offer period. It is MSCI policy not to comment on the potential inclusion of equity securities to be listed in the future, including their industry classification under the Global Industry Classification Standard (GICS), their country classification and their potential inclusion in an MSCI index. The same applies to non-index constituents that are already listed which have pending large events. 34 Following the November 2019 Index Review, securities on the STAR Market of the Shanghai Stock Exchange may be early included in the MSCI China All Shares and the MSCI China A Onshore Indexes outside of an Index Review as per Section 6 of the MSCI Corporate Events Methodology. Early inclusion of STAR Market securities in these MSCI Indexes will be announced no earlier than the second day of trading and no later than before the opening of the third day of trading after listing, provided the security meets the market capitalization thresholds as of the close of either first or second trading day.

MSCI ACWI: The updated methodology deletes the entire “Public Announcements” section. Previously, corporate-event constituent additions and deletions had to be publicly announced before implementation, other corporate-event changes were announced only to clients, and changes were announced at least two business days before becoming effective. The deletion also removes the specified publication channels. (Minor)

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The updated methodology deletes the entire “Public Announcements” section. Previously, corporate-event constituent additions and deletions had to be publicly announced before implementation, other corporate-event changes were announced only to clients, and changes were announced at least two business days before becoming effective. The deletion also removes the specified publication channels. Previous: All additions and deletions of constituents of the MSCI Global Investable Market Indexes resulting from corporate events are publicly announced prior to their implementation. Other changes resulting from corporate events that affect constituents of the MSCI Global Investable Market Indexes, such as changes in the Foreign Inclusion Factor (FIF) and/or in the number of shares of a constituent, are not publicly announced but are announced only to clients. If warranted, MSCI reserves the right to make public announcements related to corporate events for special cases, such as the ineligibility of a security in the MSCI Global Investable Market Indexes. The changes are announced at least two business days prior to events becoming effective in the indexes. Public announcements are a summary of the “confirmed” announcements that are made to clients. Public announcements are made shortly before a “confirmed” client announcement is made. MSCI posts the announcements on its web site, www.msci.com, and on Bloomberg page MSCN. In addition, announcements are posted on Reuters public pages MSCIA for MSCI Global Standard Index constituents and MSCI Domestic Standard Index constituents.

MSCI ACWI: The updated methodology deletes the entire “3.3.1.1 Client Announcements” subsection. The previous version set out client announcement requirements for corporate events, including expected, undetermined, confirmed, correction, and acknowledged announcements; minimum lead times; daily ACE File delivery; and criteria for descriptive text announcements. No corresponding text remains in the updated version. (Minor)

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The updated methodology deletes the entire “3.3.1.1 Client Announcements” subsection. The previous version set out client announcement requirements for corporate events, including expected, undetermined, confirmed, correction, and acknowledged announcements; minimum lead times; daily ACE File delivery; and criteria for descriptive text announcements. No corresponding text remains in the updated version. Previous: All changes resulting from corporate events are announced to clients prior to their implementation in the MSCI Global Investable Market Indexes. The changes are typically announced at least ten business days prior to these changes becoming effective in the indexes as “expected” announcements, or as “undetermined” announcements, when the effective dates are not known yet or when aspects of the event are uncertain. MSCI sends “confirmed” announcements at least two business days prior to events becoming effective in the indexes provided that all necessary public information concerning the event is available. In case a “confirmed” announcement needs to be amended, MSCI sends a “correction” announcement with a descriptive text announcement to provide details about the changes made. MSCI also sends announcements in "Acknowledged" status within five business days following the public announcement by the company of the acquisition, if the impact is above one time the constituent's underlying country index Large Cap Cutoff. For certain events, MSCI only sends “confirmed” announcements, especially due to insufficient or lack of publicly available information or late company disclosure. For the MSCI World Micro Cap Index and the MSCI Frontier Markets Small Cap Index, MSCI only sends “confirmed” announcements at least two business days prior to events becoming effective in the index, provided that all necessary public information concerning the event is available. The full list of all new and pending changes is delivered to clients on a daily basis, between 5:30 PM and 6:00 PM US Eastern Time (EST) through the Advance Corporate Events (ACE) File. In exceptional cases, events are announced during market hours for same or next day implementation. Announcements made by MSCI during market hours are usually linked to late company disclosure of corporate events or unexpected changes to previously announced corporate events. A descriptive text announcement is sent for all corporate ev

MSCI ACWI: The updated section adds an announcement policy for corporate-event-related changes. Such changes must be announced to clients before implementation, and constituent additions and deletions must also be publicly announced before implementation, with a cross-reference to Section 8 of the MSCI Corporate Events methodology. (Editorial)

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The updated section adds an announcement policy for corporate-event-related changes. Such changes must be announced to clients before implementation, and constituent additions and deletions must also be publicly announced before implementation, with a cross-reference to Section 8 of the MSCI Corporate Events methodology. Updated: All changes resulting from corporate events are announced to clients prior to their implementation in the MSCI Global Investable Market Indexes. All additions and deletions of constituents of the MSCI Global Investable Market Indexes resulting from corporate events are also publicly announced prior to their implementation. Please refer to section 8 of the MSCI Corporate Events methodology for more information on the MSCI general announcement policy for corporate events.

MSCI ACWI: The updated section removes the stray introductory phrase "Corporate Event" from the beginning of the first paragraph. The substantive rules for reviewing size-segment classification after a large corporate event are unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated section removes the stray introductory phrase "Corporate Event" from the beginning of the first paragraph. The substantive rules for reviewing size-segment classification after a large corporate event are unchanged. Previous: Corporate Event In order to reflect significant changes in the market capitalization of existing constituents in the Global Investable Market Indexes and in the World All Cap Indexes in a timely fashion while minimizing index turnover, the Size-Segment classification of a security is reviewed simultaneously with the event, if the market capitalization change implied by the event, including potential update in the number of shares for the security, is deemed significant. Updated: In order to reflect significant changes in the market capitalization of existing constituents in the Global Investable Market Indexes and in the World All Cap Indexes in a timely fashion while minimizing index turnover, the Size-Segment classification of a security is reviewed simultaneously with the event, if the market capitalization change implied by the event, including potential update in the number of shares for the security, is deemed significant.

MSCI ACWI: The updated text changes the footnote marker after "significant IPOs" from "30" to "30F30" and joins a line-broken "upper bound" phrase. The rules for setting the Interim Market Size-Segment Cutoff and the use of previous-trading-day data are unchanged. (Editorial)

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The updated text changes the footnote marker after "significant IPOs" from "30" to "30F30" and joins a line-broken "upper bound" phrase. The rules for setting the Interim Market Size-Segment Cutoff and the use of previous-trading-day data are unchanged. Previous: For the purpose of determining eligibility for early inclusion of securities, such as significant IPOs30, and/or assigning a company and its securities post a corporate event, e.g., mergers and spin-offs, to the appropriate Size-Segment Index an Interim Size-Segment Cutoff is used. The Interim Market Size-Segment Cutoff is set to: - The lower bound of the Global Minimum Size Range, if the Market Size-Segment Cutoff is below the lower bound. - The upper bound of the Global Minimum Size Range, if the Market Size-Segment Cutoff is above the upper bound. - The Market Size-Segment Cutoff, if it is within the Global Minimum Size Range. Updated: For the purpose of determining eligibility for early inclusion of securities, such as significant IPOs30F30, and/or assigning a company and its securities post a corporate event, e.g., mergers and spin-offs, to the appropriate Size-Segment Index an Interim Size-Segment Cutoff is used. The Interim Market Size-Segment Cutoff is set to: - The lower bound of the Global Minimum Size Range, if the Market Size-Segment Cutoff is below the lower bound. - The upper bound of the Global Minimum Size Range, if the Market Size-Segment Cutoff is above the upper bound. - The Market Size-Segment Cutoff, if it is within the Global Minimum Size Range.

MSCI ACWI: MSCI added Thanksgiving to the global holidays treated as non-business days when determining Price Cutoff Dates. Correspondingly, the example for a November 26, 2024 Index Review changes the 10-business-day price cutoff window from October 14–25, 2024 to October 15–28, 2024. Other changes are list and footnote formatting. (Major)

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MSCI added Thanksgiving to the global holidays treated as non-business days when determining Price Cutoff Dates. Correspondingly, the example for a November 26, 2024 Index Review changes the 10-business-day price cutoff window from October 14–25, 2024 to October 15–28, 2024. Other changes are list and footnote formatting. Previous: This is the relevant cutoff date for: - - Data used to update the Equity Universe as per Sub-section 2.1: Defining the Equity Universe; Data used for calculating the updated Equity Universe Minimum Size Requirement as per Sub-section 3.1.2.2: Updating the Equity Universe Minimum Size Requirement; Price Cutoff Date: any one of the last 10 business days 28 of January for the February Index Review, of April for the May Index Review, of July for the August Index Review and of October for the November Index Review. 28 If the effective date of the Index Reviews is within the announcement month, in such scenario Price Cutoff Date would also prepone accordingly by the same number of business days. For example, if the effective date of the November 2024 Index Review is November 26, 2024, the price cutoff date will be any one of the 10 business days from October 14, 2024 to October 25, 2024. 28Global holidays such as Good Friday and Easter Monday will be considered non-business days when determining price cutoff dates. - Prices used for calculating market capitalization; - - Data used to update FIFs as per Sub-section 3.1.7: Index Review of changes in Foreign Inclusion Factors (FIFs); Data used to incorporate all foreign room changes. - Data used to update NOS as per Sub-section 3.1.8: Index Review of changes in Number of Shares (NOS). A business day is defined as a day from Monday to Friday where markets cumulatively constituting more than 80% of the MSCI All Countries World Index free float-adjusted market capitalization are expected to be open on the basis of a security’s country of listing29. Updated: This is the relevant cutoff date for: - Data used to update the Equity Universe as per Sub-section 2.1: Defining the Equity Universe; - Data used for calculating the updated Equity Universe Minimum Size Requirement as per Sub-section 3.1.2.2: Updating the Equity Universe Minimum Size Requirement; Price Cutoff Date: any one of the last 10 business days28F28 of January for the February Index Review, of April for the May Index Review, of July for the August Index Review and of October for the November Index Review. 28 If the effective date of the Index Review is within the announcement month, in such scenario Price Cutoff Date would also prepone accordingly by the same number of business days. For example, if the effective date of the November 2024 Index Review is November 26, 2024, the price cutoff date will be any one of the 10 business days from October 15, 2024 to October 28, 2024. 28Global holidays such as Thanksgiving, Good Friday and Easter Monday will be considered non-business days when determining price cut-off dates. - Prices used for calculating market capitalization; - Data used to update FIFs as per Sub-section 3.1.7: Index Review of changes in Foreign Inclusion Factors (FIFs); - Data used to incorporate all foreign room changes. - Data used to update NOS as per Sub-section 3.1.8: Index Review of changes in Number of Shares (NOS). A business day is defined as a day from Monday to Friday where markets cumulatively constituting more than 80% of the MSCI All Countries World Index free float-adjusted market capitalization are expected to be open on the basis of a security’s country of listing29F29.

MSCI ACWI: The update reformats the foreign-room adjustment-factor table by joining two wrapped lines and changes the rendering of footnote anchors (for example, "F25", "F26", and "F27"). No adjustment factors, foreign-room thresholds, review timing, or constituent treatment changes. (Editorial)

2026-10-02T00:00:00Z

The update reformats the foreign-room adjustment-factor table by joining two wrapped lines and changes the rendering of footnote anchors (for example, "F25", "F26", and "F27"). No adjustment factors, foreign-room thresholds, review timing, or constituent treatment changes. Previous: foreign room >= 15% <= foreign 7.5% <= foreign 3.75% <= foreign foreign room 25% room < 25% room < 15% room < 7.5% <3.75% Current adjustment factor = 1 1 1 0.25 0 If the foreign room of an existing constituent decreases below 3.75%, then the adjustment factor equals 0.25 In order to preserve index continuity, conformity with the minimum free float-adjusted market capitalization requirements for existing IMI Index constituents will be assessed using the free float-adjusted market capitalization before the application of the adjustment factor26. Generally, an upward movement of the adjustment factor for existing constituents following a previous reduction in foreign room or index re-inclusion of a security deleted as a result of having a foreign room lower than 3.75% will only be considered 12 months after the weight reduction or deletion; unless the upward movement of the adjustment factor is primarily driven by a change in FOL and provided that the increase in FOL27 happened prior to the Price Cutoff Date of the previous Index Review described in Section 3.1.9. Updated: foreign room >= 15% <= foreign 7.5% <= foreign 3.75% <= foreign foreign room 25% room < 25% room < 15% room < 7.5% <3.75% Current adjustment factor = 1 1 1 0.25 0 If the foreign room of an existing constituent decreases below 3.75%, then the adjustment factor equals 0.25F25 In order to preserve index continuity, conformity with the minimum free float-adjusted market capitalization requirements for existing IMI Index constituents will be assessed using the free float-adjusted market capitalization before the application of the adjustment factor26F26. Generally, an upward movement of the adjustment factor for existing constituents following a previous reduction in foreign room or index re-inclusion of a security deleted as a result of having a foreign room lower than 3.75% will only be considered 12 months after the weight reduction or deletion; unless the upward movement of the adjustment factor is primarily driven by a change in FOL and provided that the increase in FOL27F27 happened prior to the Price Cutoff Date of the previous Index Review described in Section 3.1.9.

MSCI ACWI: The updated text removes the extraneous word "Indexes" from the opening line and changes the footnote reference formatting from "24" to "24F24." The buffer-zone rules, thresholds, and small-cap entry treatment are unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated text removes the extraneous word "Indexes" from the opening line and changes the footnote reference formatting from "24" to "24F24." The buffer-zone rules, thresholds, and small-cap entry treatment are unchanged. Previous: Indexes In order to better reflect the investment processes of size managers, allow for timely representation of market developments when securities move far away from size-segment The buffer zones at Index Reviews are defined with boundaries of 2/3rd of and 1.5 times the Market Size-Segment Cutoff between two size-segments24. Updated: In order to better reflect the investment processes of size managers, allow for timely representation of market developments when securities move far away from size-segment The buffer zones at Index Reviews are defined with boundaries of 2/3rd of and 1.5 times the Market Size-Segment Cutoff between two size-segments24F24.

MSCI ACWI: Although the section is marked as added, the supplied updated text contains no visible rule, principle, or methodology language. No substantive index construction requirement can be identified from the provided excerpt. (Editorial)

2026-10-02T00:00:00Z

Although the section is marked as added, the supplied updated text contains no visible rule, principle, or methodology language. No substantive index construction requirement can be identified from the provided excerpt.

MSCI ACWI: The updated text reformats the size-segment assignment priority list, consolidating the bullet points for companies above the lower segment's upper buffer threshold. The footnote-style marker is also changed from "threshold23" to "threshold 23F23." The eligibility categories and assignment priorities are otherwise unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated text reformats the size-segment assignment priority list, consolidating the bullet points for companies above the lower segment's upper buffer threshold. The footnote-style marker is also changed from "threshold23" to "threshold 23F23." The eligibility categories and assignment priorities are otherwise unchanged. Previous: Companies greater than the upper buffer threshold23 of the lower Size-Segment that are: - - Currently in the lower Size-Segment Index or Assigned to this Size-Segment during last Index Review and failed the Final Size-Segment Investability Requirement or - Investable companies during last Index Review that were not assigned to any Size-Segment. Updated: Companies greater than the upper buffer threshold 23F23 of the lower Size-Segment that are: - Currently in the lower Size-Segment Index or - Assigned to this Size-Segment during last Index Review and failed the Final Size-Segment Investability Requirement or - Investable companies during last Index Review that were not assigned to any Size-Segment.

MSCI ACWI: The update reformats the procedure for adjusting the Segment Number of Companies by removing line breaks, joining hyphenated text, splitting one sentence into a separate paragraph, and changing footnote reference formatting (for example, "21" appears as "21F21"). No addition, deletion, threshold, percentage, trigger, or procedural condition was changed. (Editorial)

2026-10-02T00:00:00Z

The update reformats the procedure for adjusting the Segment Number of Companies by removing line breaks, joining hyphenated text, splitting one sentence into a separate paragraph, and changing footnote reference formatting (for example, "21" appears as "21F21"). No addition, deletion, threshold, percentage, trigger, or procedural condition was changed. Previous: The process for adjusting the Segment Number of Companies is as follows: If additions to the Segment Number of Companies are required: - The number of companies is increased to include all companies with a full market capitalization higher than the upper boundary of the Global Minimum Size Range. - The number of companies is increased to include all companies with a full market capitalization higher than the upper limit of the Lower Size Range Boundary Proximity Area, if any, that are required to reach the lower boundary of the Market Coverage Target Range. 21 - The additions are made in descending order of full market capitalization. The full market capitalization of the last added company then becomes the Market Size-Segment Cutoff. These limits are implemented in the following steps: - First, a reduction of no more than 5% of the Initial Segment Number of Companies is made to bring the Market Size-Segment Cutoff into compliance with the Size and Coverage Target Area. Only the companies with full company market capitalization lower than the lower limit of the Upper Size Range Boundary Proximity Area can be removed. 22 - If this reduction brings the Market Size-Segment Cutoff into compliance with the Global Minimum Size Range, or removes at least half the free float-adjusted market capitalization that lies between the smallest company before the adjustment of the Initial Segment Number of Companies and the lower bound of the Global Minimum Size - Range, no further adjustment is necessary. If not, then a reduction of not more than 20% of the Initial Segment Number of Companies is made to remove at most half the free float-adjusted market capitalization that lies between the smallest company before adjusting the Initial Segment Number of Companies and the lower bound. - In market segments with a small number of companies, the deletion of the first two companies is not subject to - the limits described above. 22 When a limit is placed on the decrease in the number of Updated: The process for adjusting the Segment Number of Companies is as follows: If additions to the Segment Number of Companies are required: - The number of companies is increased to include all companies with a full market capitalization higher than the upper boundary of the Global Minimum Size Range. - The number of companies is increased to include all companies with a full market capitalization higher than the upper limit of the Lower Size Range Boundary Proximity Area, if any, that are required to reach the lower boundary of the Market Coverage Target Range.21F21 - The additions are made in descending order of full market capitalization. The full market capitalization of the last added company then becomes the Market Size-Segment Cutoff. These limits are implemented in the following steps: - First, a reduction of no more than 5% of the Initial Segment Number of Companies is made to bring the Market Size-Segment Cutoff into compliance with the Size and Coverage Target Area. Only the companies with full company market capitalization lower than the lower limit of the Upper Size Range Boundary Proximity Area can be removed.22F22 - If this reduction brings the Market Size-Segment Cutoff into compliance with the Global Minimum Size Range, or removes at least half the free float-adjusted market capitalization that lies between the smallest company before the adjustment of the Initial Segment Number of Companies and the lower bound of the Global Minimum Size Range, no further adjustment is necessary. - If not, then a reduction of not more than 20% of the Initial Segment Number of Companies is made to remove at most half the free float-adjusted market capitalization that lies between the smallest company before adjusting the Initial Segment Number of Companies and the lower bound. - In market segments with a small number of companies, the deletion of the first two companies is not subject to the limits described above. 22 - When a limit is placed on the decrease in the number

MSCI ACWI: The methodology for determining the Initial Segment Number of Companies is unchanged. The only edit is the in-text footnote/reference marker after "Interim Market Size-Segment Cutoff," changing from "20" to "20F20"; the substantive rule and footnote text remain identical. (Editorial)

2026-10-02T00:00:00Z

The methodology for determining the Initial Segment Number of Companies is unchanged. The only edit is the in-text footnote/reference marker after "Interim Market Size-Segment Cutoff," changing from "20" to "20F20"; the substantive rule and footnote text remain identical. Previous: If the Interim Market Size-Segment Cutoff20 is equal to or above the lower bound of the Global Minimum Size Range, then the Initial Segment Number of Companies is equal to the number of companies in the updated Investable Equity Universe with the full company market capitalization equal to or above the Interim Market Size-Segment Cutoff. Updated: If the Interim Market Size-Segment Cutoff20F20 is equal to or above the lower bound of the Global Minimum Size Range, then the Initial Segment Number of Companies is equal to the number of companies in the updated Investable Equity Universe with the full company market capitalization equal to or above the Interim Market Size-Segment Cutoff.

MSCI ACWI: The updated text removes the stray heading word "Cutoffs" from the beginning of the sentence. The substantive rule for updating the Segment Number of Companies and Market Size-Segment Cutoffs is unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated text removes the stray heading word "Cutoffs" from the beginning of the sentence. The substantive rule for updating the Segment Number of Companies and Market Size-Segment Cutoffs is unchanged. Previous: Cutoffs The Segment Number of Companies and the corresponding Market Size-Segment Cutoffs are updated to account for changes in each Market Investable Equity Universe. Updated: The Segment Number of Companies and the corresponding Market Size-Segment Cutoffs are updated to account for changes in each Market Investable Equity Universe.

MSCI ACWI: The updated text removes the stray word "Ranges" from the beginning of the paragraph. The substantive rule—that Global Minimum Size References and ranges are reset at Index Reviews using a process similar to updating the Equity Universe Minimum Size Requirement—is unchanged. (Editorial)

2026-10-02T00:00:00Z

The updated text removes the stray word "Ranges" from the beginning of the paragraph. The substantive rule—that Global Minimum Size References and ranges are reset at Index Reviews using a process similar to updating the Equity Universe Minimum Size Requirement—is unchanged. Previous: Ranges The Global Minimum Size References and corresponding ranges are reset at the Index Reviews using a process similar to the one used to update the Equity Universe Minimum Size Requirement. More details may be found in Appendix X: Updating the Global Minimum Size References and Ranges. Updated: The Global Minimum Size References and corresponding ranges are reset at the Index Reviews using a process similar to the one used to update the Equity Universe Minimum Size Requirement. More details may be found in Appendix X: Updating the Global Minimum Size References and Ranges.

MSCI ACWI: The listing-priority rule for existing constituents is unchanged: local listing, then foreign listing in the same geographical region, then foreign listing in a different geographical region. The only modification is the formatting of the inline footnote markers, which change from 17/18/19 to 17F17/18F18/19F19. (Editorial)

2026-10-02T00:00:00Z

The listing-priority rule for existing constituents is unchanged: local listing, then foreign listing in the same geographical region, then foreign listing in a different geographical region. The only modification is the formatting of the inline footnote markers, which change from 17/18/19 to 17F17/18F18/19F19. Previous: If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing17 Foreign listing in the same geographical region 18 Foreign listing in a different geographical region 19. Updated: If the security has two or more other eligible listings, the following priority rules would be used to determine which of such listings will be used to represent the security in the Market Investable Equity Universe: Local listing17F17 Foreign listing in the same geographical region 18F18 Foreign listing in a different geographical region 19F19.

MSCI ACWI: The updated section retains the same definition and examples of Composite Indexes. The only differences are formatting and numbering changes to footnote/reference markers, such as "Market Classification14" becoming "Market Classification 14F14" and "MSCI World 15" becoming "MSCI World15F15". (Editorial)

2026-10-02T00:00:00Z

The updated section retains the same definition and examples of Composite Indexes. The only differences are formatting and numbering changes to footnote/reference markers, such as "Market Classification14" becoming "Market Classification 14F14" and "MSCI World 15" becoming "MSCI World15F15". Previous: Market Indexes can be grouped either on the basis of Market Classification14 definition, geographical regions, economic regions or other criteria. Developed, Emerging and Frontier Markets, we obtain the MSCI World 15, the MSCI Emerging Markets and the MSCI Frontier Markets Indexes respectively for each size-segment. Some examples would be the MSCI EM Asia Index or the MSCI All Countries16 Americas Index. Updated: Market Indexes can be grouped either on the basis of Market Classification 14F14 definition, geographical regions, economic regions or other criteria. Developed, Emerging and Frontier Markets, we obtain the MSCI World15F15, the MSCI Emerging Markets and the MSCI Frontier Markets Indexes respectively for each size-segment. Some examples would be the MSCI EM Asia Index or the MSCI All Countries16F16 Americas Index.

MSCI ACWI: The updated version removes the isolated text fragment "Markets Indexes" from the section. No index construction, selection, calculation, or other methodology rule is changed. (Editorial)

2026-10-02T00:00:00Z

The updated version removes the isolated text fragment "Markets Indexes" from the section. No index construction, selection, calculation, or other methodology rule is changed. Previous: Markets Indexes

MSCI ACWI: Editorial change: wording only, no rule changed. (Editorial)

2026-10-02T00:00:00Z

MSCI ACWI: The update removes the redundant leading phrase “Size-Segments: Example” before the USA example and changes only line wrapping in the Hungary chart text. All illustrative companies, rankings, market capitalizations, coverage levels, and size-segment cutoff rules remain unchanged. (Editorial)

2026-10-02T00:00:00Z

The update removes the redundant leading phrase “Size-Segments: Example” before the USA example and changes only line wrapping in the Hungary chart text. All illustrative companies, rankings, market capitalizations, coverage levels, and size-segment cutoff rules remain unchanged. Previous: Size-Segments: Example Example: For the USA Standard segment, companies are counted in descending order of full market capitalization starting with the largest company. 5,000 and Hungary Smallest Company in the Higher Standard Index 4,500 4,000 3,500 Company Full Market Capitalization 3,000 2,500 (80%, 2.33 B) (90%, 2.33 B) Global Minimum 2,000 Coverage Target Area (90%,1.01 B) 1,000 (80%,1.01 B) Market Coverage 500 Target Range Standard Index Small Cap Index 0 43.9% 77.4% 86.2% 96.3% 97.9% 99.0% 99.6% 100.0% Cumulative Free-Float Adjusted Market Capitalization Coverage Updated: Example: For the USA Standard segment, companies are counted in descending order of full market capitalization starting with the largest company. 5,000 and Hungary Smallest Company in the Higher Standard Index 4,500 4,000 3,500 Company Full Market Capitalization 3,000 2,500 (80%, 2.33 B) (90%, 2.33 B) Global Minimum 2,000 Coverage Target Area (90%,1.01 B) 1,000 (80%,1.01 B) Market Coverage 500 Target Range Standard Index Small Cap Index 0 43.9% 77.4% 86.2% 96.3% 97.9% 99.0% 99.6% 100.0% Cumulative Free-Float Adjusted Market Capitalization Coverage

MSCI ACWI: The updated version identifies an added section titled "MSCI Global Investable Market Indexes Methodology," but the supplied section text and unified diff contain no substantive rule. Therefore, no index methodology change can be identified from the provided text. (Editorial)

2026-10-02T00:00:00Z

The updated version identifies an added section titled "MSCI Global Investable Market Indexes Methodology," but the supplied section text and unified diff contain no substantive rule. Therefore, no index methodology change can be identified from the provided text.