2021 annual report - Letter to shareholder

Dear fellow shareholders:

We live in a here-and-now culture filled with countless distractions. The news cycle has never been faster, and our collective attention span has never been shorter. From the moment we wake up, digital devices aggressively compete for our time, interest and emotions. In such an environment, it can be difficult to maintain a long-term perspective on current events.

MSCI Net Income (in millions) (unaudited)

MSCI Net Income (in millions) (unaudited)

But make no mistake: We are all witnessing one of history’s great inflection points. Not only because of COVID-19 and the Russian invasion of Ukraine, but also because of challenges and opportunities that emerged well before the pandemic and the war: namely, the climate crisis and the ESG and index revolutions. Taken together, they are transforming the free-enterprise system.

Free enterprise has undergone tectonic shifts before, especially as large numbers of people moved from farms to factories in the 19th century and from factories to offices in the 20th century. These earlier shifts brought about fundamental changes in the nature of work and economic progress. The same thing is happening today.

MSCI’s business strategy can help us navigate and shape this new landscape. Our mission is to power better investment decisions : a more prosperous, more thriving, more sustainable world. This mission informs and inspires our efforts on climate and ESG.

We see the evolution of free enterprise as a huge opportunity for companies and investors. But seizing the opportunity will require innovative tools, models and data. MSCI can provide them.

For more information on our business, operations and financial condition as of and for the year ended December 31, 2021, please review our 2021 Annual Report.

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