Russell Index Changes Delete: BLD, Share Inc: QXO, CDNL

Research evidence excerpt

Russell Index Changes Delete: BLD, Share Inc: QXO, CDNL

US Index Update

Global Quantitative and Derivatives Strategy Team Min Moon

Week of Jun 22, 2026 As of Jun 25, 2026 (3:00 PM) g +1 (212) 272 ,8456 min.k.moon@jpmorgan.comg

Monday, June 29, 2026

• R2000 Cardinal Infrastructure Group is distributing its common stock in a public primary offering. In the offering, Cardinal Infrastructure Group will offer 4,000,000 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 29, 2026 (after the close).

Tuesday, June 30, 2026

• R1000 QXO Inc (QXO; R1, R25, MC, RS, V, DY) will acquire TopBuild Corp for stock or cash. In the transaction, each share of TopBuild Corp will be exchanged for either 20.2 of a share of QXO Inc stock or $505.00 in cash, subject

to proration of 45% cash and 55% stock. The merger is pending both companies' shareholder meetings on June 29, 2026. TopBuild Corp will be removed from the FTSE Russell Indexes upon completion of the merger. The style

probabilities are expected to remain constant at 0% growth and 100% value and the stability probabilities are expected to remain constant at 0% defensive and 100% dynamic.

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 $ 31.64 601.42 646.87 0.022% 0.025% 0.003% 6.32 6.32 0.08 419.00 0.87

S&P 500 Add 23-Jun-26 26-Jun-26 HONA Honeywell Aerosp Spin-off from HON