Russell Index Changes Share Inc: MDLN, CECO Delete: THR, NVRI, Add: NVRI-W

Research evidence excerpt

Russell Index Changes Share Inc: MDLN, CECO Delete: THR, NVRI, Add: NVRI-W

US Index Update

Global Quantitative and Derivatives Strategy Team Min Moon

Week of May 25, 2026 As of May 27, 2026 (2:30 PM) g +1 (212) 272 ,8456 min.k.moon@jpmorgan.comg

Friday, May 29, 2026

• R2000 Veolia Environment SA (VIE.PA; Non-US FTSE Russell Index Member) will acquire the Clean Earth Business of Enviri Corporation for cash. In the transaction, each share of Enviri Corporation will be exchanged for cash (no

less than $14.50 and no higher than $16.50). Prior to the closing of the acquisition, Enviri Corporation will spin-off its shares of Hersco Environmental and Rail Business, named "New Enviri". Each share of Enviri Corporation

stock will receive 0.33 of a share of New Enviri. New Enviri is projected to be added to the FTSE Russell Indexes, as it satisfies FTSE Russell's inclusion criteria. The new company will be added to Enviri Corporation's

respective indexes (Russell 2000, Russell 2500 and Russell Small Cap Completeness). Based on Enviri's current probabilities, New Enviri's style probabilities will be 0% growth and 100% value. and the stability probabilities

will be 0% defensive and 100% dynamic. The merger and the distribution was approved at Enviri Corporation's shareholder meeting on May 4, 2026. Legacy Enviri Corporation will be removed from the FTSE Russell Indexes

upon completion of the merger.

• R1000 Medline is distributing its common stock in a public secondary offering. In the offering, Medline shareholders will offer 72,554,000 shares of its common stock. FTSE Russell has determined this equity offering satisfies the

criteria for an intra-quarter update. The equity offering will be effective in the FTSE Russell Indexes on June 1, 2026 (after the close).