Russell Index Change Delete: CWAN

Research evidence excerpt

Russell Index Change Delete: CWAN

US Index Update

Global Quantitative and Derivatives Strategy Team Min Moon

Week of Jun 22, 2026 As of Jun 22, 2026 (12:00 PM) g +1 (212) 272 ,8456 min.k.moon@jpmorgan.comg

Wednesday, June 24, 2026

• R2000 Permira and Warburg Pincus-led Investor Group (privately held; not in the FTSE Russell Indexes) will acquire Clearwater Analytics for cash. In the transaction, each share of Clearwater Analytics will be exchanged for $24.55 in

cash. The merger was approved at Clearwater Analytics’ shareholder meeting on May 6, 2026. Clearwater Analytics will be removed from the FTSE Russell Indexes upon completion of the merger.

Shares Out (M) Indexer Flows S&P Index

Index Announcement Effective on Current New Weight Days to

Event Date Close of Ticker Name (Sector**) Event Detail Last Price Wgt Wgt Change Gross Net Trade Old New Shares Shares Rank IWF

(M) (M)

S&P 500 S Inc & f Inc 18-Jun-26 26-Jun-26 SMCI Super Micro Comp (IT) Equity Offering $ 35.21 601.42 646.87 0.022% 0.025% 0.003% 5.77 5.77 0.08 419.00 0.87

R2/RS Delete Confirmed 22-Jun-26 LILPV Liberty Latin America preference Ineligible #N/A 0.00 -1.41 (1.41)

R2/RS Delete Confirmed 24-Jun-26 CWAN Clearwater An-A Acquisition $ 24.51 275.61 0.00 -24.34 (24.34) (7.10)

R1/RS Add Confirmed 26-Jun-26 SPCX Space Explorat-A IPO $ 166.97 0.00 527.78 22.29 22.29

NDX Add Confirmed 26-Jun-26 HONA Honeywell Aerosp Spin-off from HON