Construction Rules for theMorningstar® Developed Markets
ex-Japan Gender Diversity Index

SMMarch 2023

Morningstar Developed Markets ex-Japan Gender Diversity Index

ContentsOverview ...........................................................................................................................................................................3
Index Construction ............................................................................................................................................................3
Assigning Stocks to the Index ...........................................................................................................................................3
Index Weighting ................................................................................................................................................................4
Index Maintenance and Calculation ..................................................................................................................................5
Scheduled Maintenance ....................................................................................................................................................5
Corporate Action ...............................................................................................................................................................5
Index Calculation and Price Data ......................................................................................................................................5
Methodology Review and Index Cessation Policy .............................................................................................................5
Data Correction and Precision ...........................................................................................................................................6
Intraday Index Data Corrections ........................................................................................................................................6
Index-Related Data and Divisor Corrections ......................................................................................................................6
Computational and Reporting Precision ............................................................................................................................6
Appendixes ........................................................................................................................................................................7
Appendix 1: Equileap Gender Scorecard Calculation .........................................................................................................7
Appendix 2: Morningstar Regions and Sectors .................................................................................................................8
About Morningstar Indexes ...............................................................................................................................................92©2023 Morningstar, Inc. All rights reserved. The Morningstar name and logo are registered marks of Morningstar, Inc.
Marks used in conjunction with Morningstar products or services are the property of Morningstar or its subsidiaries.

Morningstar Developed Markets ex-Japan Gender Diversity Index

Overview
The Morningstar® Developed Markets ex-Japan Gender Diversity IndexSM pursues objectives that align with environmental,social, and governance standards in reference to gender diversity. Built with the data and scoring methodology of Equileap,
the index is designed to emphasize companies that have strong gender diversity policies embedded in their corporate culture
and that ensure equal opportunities to employees, irrespective of their gender.
For more information on the Equileap Gender Scorecard and ranking, refer to Appendix 1.
Performance Inception Date
The inception date of the index is Aug 10,2020, and the performance inception date, when the first backtested index values
were calculated, is Dec. 19, 2014.
Index Construction
Exhibit 1: Construction process
Starting Universe

EligibilityPortfolio Construction• Select securities from theMorningstar Developed
Markets ex-Japan Large-MidIndex.

• Securities that are part of theAlarm Bell controversy list, asassigned by Equileap,1 areineligible for the index.

• Tilt the security weights basedon the assigned Gender
Equality score.
• Region neutral weights withrespect to the benchmark.
• Security weights capped at5%.

1Morningstar
Developed Markets
ex-Japan Gender
Diversity Index

Please refer to Appendix 1 for more details. For additional details, refer to the "Assigning Stocks to the Index" section

Assigning Stocks to the Index
Selection Universe
At each reconstitution, constituents of the Morningstar Developed Markets ex-Japan Gender Diversity Index are derived fromthe corresponding Morningstar Developed Markets ex-Japan Large-Mid Index (benchmark). For more details on benchmark
construction, refer to the Construction Rules for the Morningstar Global Markets Index.
Security Selection
All benchmark securities that are not part of the latest Alarm Bell controversy list of securities provided by Equileap areeligible for the Morningstar Developed Markets ex-Japan Gender Diversity Index. The Alarm Bell securities will continue to bepart of the controversy list for the next 12 months from the date it was flagged by Equileap. No other negative screening isapplied apart from the Alarm Bell controversy list.

3©2023 Morningstar, Inc. All rights reserved. The Morningstar name and logo are registered marks of Morningstar, Inc.
Marks used in conjunction with Morningstar products or services are the property of Morningstar or its subsidiaries.

Morningstar Developed Markets ex-Japan Gender Diversity Index

Number of Stocks
The number of stocks in the index is subject to the selection and eligibility criteria at the time of reconstitution.
Index Weighting
The constituent weighting scheme for the index is calculated and applied as noted in the following steps:• All eligible constituents are sorted in the descending order of their Equileap Gender Equality, or GE, score.1• For all securities with the same Equileap GE score, Category A data2 is used to break the tie, starting with criterion 5(promotion and career development) and continuing, where required, through criterion 4 (workforce), 3 (senior management),
2 (executive), and 1 (board). In case of securities having the same Category A score, the one with the higher GE score for theprevious year is assigned a higher rank.
• Within each broader Region3, divide the securities into five groups based on the ranks assigned using Equileap GE scores inearlier steps having equal number of securities in each of the five groups. Two or more securities with the same Equileap GE
score, Category A scores, and previous year GE scores are always assigned to the same group. Thus, each of the five groups
across the regions might not contain an equal number of securities, though this is the target.
• Assign tilt factors of (0.50, 0.75, 1.00, 1.25, 1.50, in this respective order) to the security groupings with the worst to the best
Equileap GE scores in the previous step.
• For securities that are part of the current eligible universe, which had been excluded due to the presence of the Alarm Bell
controversy at the previous reconstitution, are assigned an additional factor of 0.5 such that
Final Tilt Factor = 0.5 x Tilt Factor• Calculate the tilted weight for each security based on the formula:
𝑇𝑖𝑙𝑡𝑒𝑑 𝑊𝑒𝑖𝑔ℎ𝑡 =𝐹𝑖𝑛𝑎𝑙 𝑇𝑖𝑙𝑡 𝐹𝑎𝑐𝑡𝑜𝑟 ∗ 𝐹𝑙𝑜𝑎𝑡 𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝𝑖∑𝑛1 (𝐹𝑖𝑛𝑎𝑙 𝑇𝑖𝑙𝑡 𝐹𝑎𝑐𝑡𝑜𝑟 ∗ 𝐹𝑙𝑜𝑎𝑡 𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝𝑖 )• To minimize deviation from corresponding weights in the parent index, the region weights in the index are ensured to be equal
to region weights in the benchmark index during each reconstitution. The weights of the securities within each region are
maintained in the proportion of their tilted weights after normalization, as assigned in the prior step
• As a final step, individual security weights are capped at 5% to avoid concentration risk and the excess weights are
redistributed over the other constituents of the portfolio in the proportion of their existing weights.

1 Equileap GE score is prior to applying ESG exclusions or Alarm Bell controversy exclusions. For a security without an Equileap GE score, it is assigned a representative GE
score, which is the average of scores assigned to all securities within the same sector in the country of classification for the security. Please refer to Appendix 2 forMorningstar sector definitions.
2 Refer to Appendix 1 for more details on Category A data.
3 Please refer to Appendix 2 for Morningstar region definitions.

4©2023 Morningstar, Inc. All rights reserved. The Morningstar name and logo are registered marks of Morningstar, Inc.
Marks used in conjunction with Morningstar products or services are the property of Morningstar or its subsidiaries.

Morningstar Developed Markets ex-Japan Gender Diversity Index

Index Maintenance and Calculation
Scheduled Maintenance
The index is rebalanced quarterly in March, June, September, and December and reconstituted annually in December, on the
Monday following the third Friday. If Monday is a holiday, it is effective on the immediate following business day.
Because the reconstitution of the Morningstar Developed Markets ex-Japan Gender Diversity Index is less frequent than theMorningstar Global Markets Index, the securities excluded from the Morningstar Global Markets Index at the reconstitution
effective date are also deleted from the Morningstar Developed Markets ex-Japan Gender Diversity Index.
During quarterly reviews, weights are rebalanced to enforce 5% security capping. New securities are not added to the index,and region weights are not neutralized to be equal to region weights in the parent index during the quarterly reviews.
Securities that are part of the Alarm Bell controversy list will be removed during the quarterly reviews and reintroduced at thenext reconstitution if they are no longer part of the Alarm Bell controversy list.
Corporate Action
The treatment of corporate actions will be as per the market-capitalization-weighted indexes. Details can be found in theMorningstar Indexes Corporate Actions Methodology rulebook.
Index Calculation and Price Data
Details about index calculations and price data can be found in their respective rulebooks: Morningstar Indexes Calculation
Methodology and Equity Closing Prices Used for Index Calculation.
Methodology Review and Index Cessation Policy
The index methodology is continually reviewed to ensure it achieves all stated objectives. These reviews take into accountcorporate action treatment, selection, and maintenance procedures. Subscribers to the index will be notified before any
methodology changes are made. For more details, refer to the Morningstar Indexes Methodology Change Policy.
Morningstar also notifies all subscribers and stakeholders of the index that circumstances might arise that require a materialchange to the index, or a possible cessation of the index. Circumstances that could lead to an index cessation include, but are
not limited to, market structure change, product definition change, inadequate supply of data, insufficient revenue associatedwith the index, insufficient number of clients using the index, and/or other external factors beyond the control of theMorningstar Index Committee
Because the cessation of the index or benchmark index could disrupt subscriber products that reference this index, allsubscribers are encouraged to have robust fallback procedures if an index is terminated. For more details, refer to theMorningstar Index Cessation Process.

5©2023 Morningstar, Inc. All rights reserved. The Morningstar name and logo are registered marks of Morningstar, Inc.
Marks used in conjunction with Morningstar products or services are the property of Morningstar or its subsidiaries.

Morningstar Developed Markets ex-Japan Gender Diversity Index

Data Correction and Precision
Intraday Index Data Corrections
Commercially reasonable efforts are made to ensure the accuracy of data used in real-time index calculations. If incorrect
price or corporate action data affects index daily highs or lows, it is corrected retroactively as soon as is feasible.
Index-Related Data and Divisor Corrections
Incorrect pricing and corporate action data for individual issues in the database will be corrected upon detection. In addition,
an incorrect divisor of an index, if discovered within five days of its occurrence, will always be fixed retroactively on the day it
is discovered to prevent an error from being carried forward. Commercially reasonable efforts are made to correct an oldererror subject to its significance and feasibility.
For more details, refer to the Recalculation Guidelines.
Computational and Reporting Precision
For reporting purposes, index values are rounded to two decimal places and divisors are rounded to appropriate decimalplaces.

6©2023 Morningstar, Inc. All rights reserved. The Morningstar name and logo are registered marks of Morningstar, Inc.
Marks used in conjunction with Morningstar products or services are the property of Morningstar or its subsidiaries.

Morningstar Developed Markets ex-Japan Gender Diversity Index

Appendixes
Appendix 1: Equileap Gender Scorecard Calculation• Headquartered in Amsterdam, Equileap is the leading provider of data and insights on gender equality in the corporate sector.
Equileap researches and ranks over 3,000 public companies around the world using a unique and comprehensive Gender
Equality Scorecard™ with 19 criteria, including the gender balance of the workforce, senior management, and board ofdirectors, as well as the pay gap, parental leave, and sexual harassment.
• Equileap was launched in 2016 by Diana van Maasdijk and Jo Andrews, two professionals who have significant experience inphilanthropy and specialize in women’s rights. Their mission was to take a leap toward gender equality in the workplace andlay out the data to show why that leap was so important.
o Companies are ranked according to 19 gender criteria in four categories:o Category A: Gender balance in leadership and the workforce.
o Category B: Equal compensation and work-life balance.
o Category C: Policies promoting gender equality.
o Category D: Commitment, transparency, and accountability.
• Equileap monitors incidents involving sexual harassment and gender discrimination. If an identified incident signals structuralor systemic problems according to Equileap's methodology, the company receives an Alarm Bell and becomes ineligible for theindex.
• Companies involved in below controversies within the past two years are assigned to the Alarm Bell controversy list:o One legal judgment or official ruling regarding gender discrimination or sexual harassment against the company or anemployee.
o Two or more settled legal cases, or one settled class action regarding gender discrimination or sexual harassment against acompany or an employee.
o Two or more legal judgments or official rulings regarding gender discriminatory practices in a company’s marketing andadvertising.
For more details, please visit: http://equileap.com/7©2023 Morningstar, Inc. All rights reserved. The Morningstar name and logo are registered marks of Morningstar, Inc.
Marks used in conjunction with Morningstar products or services are the property of Morningstar or its subsidiaries.

Morningstar Developed Markets ex-Japan Gender Diversity Index

Appendix 2: Morningstar Regions and Sectors
The following regions and sectors are considered while calculating the index:• Regionso Developed markets Americaso Developed markets Europe and Middle East × Developed markets Asia-Pacific• Sectors
o Basic materialso Communication services
o Consumer cyclicalo Consumer defensiveo Energyo Financial services
o Healthcareo Industrials
o Real estateo Technology
o Utilities

8©2023 Morningstar, Inc. All rights reserved. The Morningstar name and logo are registered marks of Morningstar, Inc.
Marks used in conjunction with Morningstar products or services are the property of Morningstar or its subsidiaries.

Morningstar Developed Markets ex-Japan Gender Diversity Index

About Morningstar Indexes
Morningstar Indexes was built to keep up with the evolving needs of investors—and to be a leading-edge advocate for them.
Our rich heritage as a transparent, investor-focused leader in data and research uniquely equips us to support individuals,institutions, wealth managers, and advisors in navigating investment opportunities across major asset classes, styles, andstrategies. From traditional benchmarks and unique IP-driven indexes to index design, calculation, and distribution services,
our solutions span an investment landscape as diverse as investors themselves.
Morningstar Index Methodology Committee
The Morningstar Index Methodology Committee oversees all new index development, index methodology changes, andcessation of indexes for any indexes where Morningstar owns the intellectual property. This committee is also charged withensuring that indexes align with Morningstar Research principles and values. The group comprises members of the index
team with index research, product development, product management, client service, index implementation, and operation
expertise who provide the first layer of governance over index design and methodology.
Morningstar Indexes Operations Committee
The Morningstar Index Operations Committee governs the processes, systems, and exception handling of the day-to-day
management of all live indexes, including index rebalancing and reconstitution, restatements, market classification, andcontingency management. The committee oversees the annual review of index methodology (as required by U.K. and EU
benchmark regulations, or BMR), ensuring that methodologies remain fit for purpose and continue to achieve their statedinvestment objectives. The group comprises members of the index team with data, operations, corporate actions, productdevelopment, index launch, client service, and index management experience who provide the first layer of governance overindex operations.
Morningstar Index Oversight Committee
The Morningstar Index Oversight Committee is responsible for the index oversight function as per the requirements of the U.K.
and European BMR, providing independent oversight of all aspects of the governance of benchmark administration as
required by the relevant BMR. Its remit extends to all calculation and administration-related business activities of Morningstar
Indexes, including administration of Morningstar-owned benchmarks as well as client-owned benchmarks and index
calculation. The oversight function is part of the organizational structure of Morningstar but is separate and independent fromthe index business, index management, and the other index committees.
www.indexes.morningstar.com
Contact Us
indexes@morningstar.com

The information in this document is the property of Morningstar, Inc. Reproduction or transcription by any means, in whole or part, without the prior written consent ofMorningstar, Inc., is prohibited. While data contained in this report are gathered from reliable sources, accuracy and completeness cannot be guaranteed. All data,information, and opinions are subject to change without notice. This document may contain back-tested or simulated performances, and the subsequent results achieved by
the investment strategy may be materially different.

9©2023 Morningstar, Inc. All rights reserved. The Morningstar name and logo are registered marks of Morningstar, Inc.
Marks used in conjunction with Morningstar products or services are the property of Morningstar or its subsidiaries.