MSCI ESG Research LLC
7 World Trade Center
250 Greenwich Street, 49th Floor
New York, NY 10007
Tel. 212-804-5299
www.msci.com/esg-ratings

BROCHURE SUPPLEMENT

This Brochure Supplement provides biographical information about the five supervised
persons with the most significant responsibility for the advice provided to clients of theresearch products and services of MSCI ESG Research LLC. This information supplements
the information in the MSCI ESG Research LLC brochure. If you did not receive a copy ofthat brochure, or if you have questions about this supplement, please contact our Chief
Compliance Officer, Jerry S. Lettieri, at (212) 981-1089 or at jerry.lettieri@msci.com.

This document was prepared as of March 26, 2024

MSCI ESG RESEARCH
Set forth below is biographical information about Laura Nishikawa, Oliver Marchand,
Meggin Thwing Eastman, Cyrus Lotfipour and Julia Giguere-Morello, the five supervised
persons with the most significant responsibility for the day-to-day advice provided to theclients of MSCI ESG Research LLC.

2LAURA NISHIKAWA

Educational Background and Business Experience
Laura Nishikawa is Global Head of ESG Research. She was previously Managing
Director of ESG Research where she led a global team responsible for developing newmodels and frameworks that help institutional investors manage ESG investment risks andopportunities. Laura led ESG ratings development, fixed income and financial sector analysis at
Innovest Strategic Value Advisors, which was acquired by RiskMetrics in 2009; MSCI purchased
RiskMetrics in 2010.
Ms. Nishikawa holds a Master’s degree in International Affairs from Columbia University
and a BA from McGill University. She is a CFA charter holder.

Disciplinary Information
None

Other Business Activities
None

Additional Compensation
NoneSupervision
Ms. Nishikawa’s investment adviser related activities are supervised by MSCI ESG
Research’s Chief Compliance Officer, Jerry S. Lettieri, in accordance with the firm’scompliance procedures and Code of Ethics. You can reach Mr. Lettieri at (212) 981-1089 orat jerry.lettieri@msci.com.

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OLIVER MARCHAND

Educational Background and Business Experience
Dr. Oliver Marchand is Managing Director of ESG Research & Development, where he is
responsible for research activities in the field of climate risks analysis. Dr. Oliver Marchandfounded the Zurich-based Carbon Delta AG and was its CEO until its acquisition by MSCI in 2019.
Prior to founding Carbon Delta and joining MSCI, Dr. Marchand gained extensive experience in ITmanagement, financial portfolio management and IT systems development at Fisch AssetManagement.
Dr. Marchand holds a Ph.D. in Computer Science from ETH Zürich.

Disciplinary Information
None

Other Business Activities
None

Additional Compensation
None

Supervision
Dr. Marchand’s investment adviser related activities are supervised by MSCI ESG
Research’s Chief Compliance Officer, Jerry S. Lettieri, in accordance with the firm’scompliance procedures and Code of Ethics. You can reach Mr. Lettieri at (212) 981-1089or at jerry.lettieri@msci.com.

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MEGGIN THWING EASTMAN

Educational Background and Business Experience
Meggin Thwing Eastman is Head of Sustainable Finance Research for MSCI ESG Research.
Her responsibilities include new product development and model enhancements related to EU
sustainable finance reporting. Previously, she was ESG Editorial Director in charge of overseeing
the research content written by the global ESG Research team. Meggin led a team of technology
sector analysts at the former KLD Research & Analytics, which was acquired by RiskMetrics in 2009;MSCI purchased RiskMetrics in 2010.Ms. Eastman holds a B.A. in Spanish and AsianStudies from Williams College and an
M.A. in Latin American Studies from the University of California, Berkeley.

Disciplinary Information
None

Other Business Activities
None

Additional Compensation
None

Supervision
Ms. Eastman’s investment adviser related activities are supervised by MSCI ESG
Research’s Chief Compliance Officer, Jerry S. Lettieri, in accordance with the firm’scompliance procedures and Code of Ethics. You can reach Mr. Lettieri at (212) 981-1089 orat jerry.lettieri@msci.com.

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CYRUS LOTFIPOUR

Educational Background and Business Experience
Cyrus Lotfipour, CFA is an Executive Director at MSCI ESG Research and is responsible forinnovation and development of ESG methodologies. He joined MSCI in 2009. Prior to his currentrole, he covered North American ESG Ratings and was sector lead for Chemicals and Capital
Goods research at MSCI ESG Research. He is also a CFA charterholder and a member of theCFA Society New York.
Mr. Lotfipour holds a dual degree in economics and biology from Bates College.

Disciplinary Information
None

Other Business Activities
None

Additional Compensation
NoneSupervision
Mr. Lotfipour’s investment adviser related activities are supervised by MSCI ESG
Research’s Chief Compliance Officer, Jerry S. Lettieri, in accordance with the firm’scompliance procedures and Code of Ethics. You can reach Mr. Lettieri at (212) 981-1089 orat jerry.lettieri@msci.com.

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JULIA GIGUERE MORELLO

Educational Background and Business Experience
Julia Giguere Morello is Head of ESG Sector and Thematic Research for MSCI ESG
Research. Her responsibilities include development of core ESG methodologies tocompanies, industries, and sectors. Previously, she was Head of Americas ESG
Research and sector lead for Healthcare at MSCI ESG Research. Julia joined MSCI
in 2010 through the acquisition of RiskMetrics.
Ms. Morello holds a Master of Public Health with a concentration in Epidemiology fromBoston University School of Public Health, and a B.A. in Chemistry from Skidmore
College.

Disciplinary Information
None

Other Business Activities
None

Additional Compensation
None

Supervision
Ms. Morello’s investment adviser related activities are supervised by MSCI ESG
Research’s Chief Compliance Officer, Jerry S. Lettieri, in accordance with the firm’scompliance procedures and Code of Ethics. You can reach Mr. Lettieri at (212) 981-1089 orat jerry.lettieri@msci.com.

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