$MSCI Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $892.0M (Est. $886M) 🟢; +12.4% YoY 🔹 Adj. EPS: $5.11 (Est. $5.02) 🟢; +14.3% YoY 🔹 Adj. EBITDA: $554.8M (Est. $551M) 🟢; +12% YoY 🔹 Adj. EBITDA Margin: 62.2% (Est. 62.4%) 🔴 FY26 Guide: 🔹 Free Cash Flow: $1,485M-$1,545M 🔹 Adj. EBITDA Expense: $1,340M-$1,370M 🔹 Operating Expense: $1,535M-$1,575M 🔹 Capex: $160M-$170M Segment Revenue: 🔹 Index: $532.6M; +18.1% YoY 🔹 Analytics: $191.0M; +4.8% YoY 🔹 Sustainability and Climate: $93.7M; +4.0% YoY 🔹 Private Assets: $74.7M; +6.7% YoY Other Q3 Metrics: 🔹 GAAP EPS: $4.86; +14.4% YoY 🔹 Net Income: $351.0M; +7.9% YoY 🔹 Adj. Net Income: $369.0M (Est. $360M) 🟢 🔹 Operating Income: $502.1M; +12.2% YoY 🔹 Free Cash Flow: $385.4M (Est. $414M) 🔴 🔹 Organic Revenue Growth: 12.3% 🔹 Total Run Rate: $3.57B; +12.1% YoY 🔹 Organic Subscription Run Rate Growth: 8.7% 🔹 Retention Rate: 95.0% 🔹 Asset-Based Fees: +24.9% YoY 🔹 Recurring Subscription Revenues: +7.7% YoY 🔹 Total Debt to Adj. EBITDA: 3.2x Key Updates: 🔹 Acquisition-related costs: $0.01/share 🔹 Acquired intangible amortization: $0.29/share 🔹 Income tax effect: -$0.05/share 🔹 Share repurchases: $552.3M during the quarter 🔹 Cash dividend: $2.05/share for Q4 2026 🔹 Agreed to acquire First Street Technology Comments: 🔸 “Thanks to these results, we entered Q4 with solid momentum and strong client engagement across our franchise.”