US Index Update

Research evidence excerpt

US Index Update

Global Quantitative and Derivatives Strategy Team Min Moon

Week of Jul 6, 2026 As of Jul 7, 2026 (2:30 PM) g +1 (212) 272 ,8456 min.k.moon@jpmorgan.comg

Monday, July 13, 2026

• R2000 Apollo Global Management (APO; FTSE Russell Index Member) will acquire Emerald Holding Inc for cash. In the transaction, each share of Emerald Holding Inc will be exchanged for $5.03 in cash. Emerald Holding Inc will be

removed from the FTSE Russell Indexes upon completion of the merger.

• R2000 Ares Real Estate (privately held; not in the FTSE Russell Index Member) will acquire Whitestone for cash. In the transaction, each share of Whitestone will be exchanged for $19.00 in cash. The merger is pending Whitestone’s

shareholder meeting on July 9, 2026. Whitestone will be removed from the FTSE Russell Indexes upon completion of the merger.

• R2000 Ligand Pharmaceuticals Inc (LGND; FTSE Russell Index Member) will acquire XOMA Royalty Corporation for cash. In the transaction, each share of XOMA Royalty Corporation will be exchanged for $39.00 in cash and one

contingent value right (CVR). The merger is pending XOMA Royalty Corporation’s shareholder meeting on July 13, 2026. XOMA Royalty Corporation 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 400 Delete 2-Jul-26 7-Jul-26 MFP Midera Food Processing Inc Moving to S&P 600 $ 35.59 45.21 0.00 -4.37 0.12 0.92

S&P 600 Delete 2-Jul-26 7-Jul-26 RWT Redwood Trust (FN) Discretionary removal $ 4.61 125.22 0.00 0.031% 0.000% -0.031% -13.13 (13.13) (5.25) 593.00 1.00