Global Index Mail: Global Markets Strategy

Research evidence excerpt

Global Index Mail: Global Markets Strategy

Min Moon AC Global Markets Strategy

(1-212 ) 272-8456 01 July 2026 J P M O R G A N

min.k.moon@jpmorgan.com

shares outstanding.

-Indexer demand: 0.01 million shares of INFRAC SE

-Indexer demand: 0.02 million shares of INFRAC SE

-Effective as close of Monday, July 13, 2026

Upcoming Index Events

• MSCI Country Classification Review 2026: Announcement: MSCI announced the

results of its Annual Market Classification Review after the US market close on June 23,

2026. Bulgaria will be reclassified from Standalone to Frontier Market status in one step

during the May 2027 Index review. Indonesia and Turkey are under

assessment, flagged for shareholder transparency and coordinated trading issues that can

distort free float and weaken price reliability for index replication. MSCI will monitor

progress in these markets through the November 2026 Index Review and, if sufficient

progress is not evident, MSCI may launch a consultation on the appropriate treatment.

MSCI will continue monitoring measures aimed at improving accessibility of

the Korean equity market for international institutional investors. MSCI provided a

reminder on the market classification status of Greece regarding the confirmed upgrade

from Emerging Market to Developed Market in one step during the May 2027 Index

Review.

• FTSE All World All Cap Index Review: June 2026- On May 22, 2026, FTSE

announced the confirmed changes for its quarterly review of the FTSE All World All Cap

index series including additions and deletions. The announced changes will be

implemented after the close on June 19th (effective starting June 22nd open). We provide

summary tables for the rebalance trade and the names with biggest flows.