Modification to the Methodologies of the S&P BSE Indices

MUMBAI, MARCH 10, 2023: On March 31, 2022, the BSE and NSE Indices Ltd, a group company of the National Stock Exchange of India Limited (NSE), announced the introduction of a common India Industry Classification Structure for the classification of companies listed and traded on the BSE and NSE exchanges. This four-level classification structure comprises 12 Macro-Economic Indicators, 22 Sectors, 58 Industries and 200 Basic Industries. Additionally, based on recent feedback from the market participants, the exchange modified the structure and added new basic industries. A detailed guideline governing the classification structure and categorization of companies listed and traded on the BSE and NSE exchanges can be accessed here .

In response to this development and to align the S&P BSE Indices with this common classification structure, Asia Index Private Limited (“AIPL”) announces the following methodology changes to the S&P BSE Indices.

S&P BSE India Infrastructure Index, S&P BSE India Manufacturing Index and S&P BSE Housing Index

Constituent selection will be based on the company’s basic industry classification under the modified common India Industry Classification Structure.

Please refer to the classification mapping for the updated India Industry Classification Structure basic industries eligible for these indices.

These changes will be implemented in conjunction with the March 2023 quarterly sector review process, which takes effect prior to the market open on Monday, March 20, 2023 .

Please note that the methodology document located on the AIPL website ( www.asiaindex.co.in ) is being updated to reflect this change.

Please contact Client Services at index_services@spglobal.com with any questions or requests for further information.

About ASIA INDEX PRIVATE LIMITED

About BSE

BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualized entity, with a broad shareholder. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, commodity derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.

BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE also has a dedicated MF distribution platform BSE StAR MF which is India Largest Mutual Funds Distribution Infrastructure. On October 1, 2018, BSE launched commodity derivatives trading in Gold, Silver, Copper, Oman Crude Oil Guar Gum, Guar Seeds, Almond & Turmeric.

BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments.

Indian Clearing Corporation Limited ("ICCL") was incorporated in 2007 as a wholly owned subsidiary of BSE Ltd. ("BSE"). ICCL carries out the functions of clearing, settlement, collateral management and risk management for various segments of BSE such as equity cash market (including BSE SME, offer for sale, securities lending & borrowing, corporate bonds and government securities), equity derivatives segment (stock & index futures and options), currency derivatives (currency (including cross-currency) futures and options, interest rate futures and options), commodity derivatives and debt products, including tri-party repo products. Post the introduction of interoperability, in 2019, ICCL also provides clearing and settlement services for trades executed in the interoperable segments (viz., equity cash market, equity derivatives segment and currency derivatives segment) of BSE as well as other exchanges.

BSE has set up an Investor Protection Fund (IPF) on July 10, 1986 to meet the claims of investors against defaulter Members, in accordance with the framework issued by the Ministry of Finance, Government of India and SEBI. BSE Investor Protection Fund is responsible for creating Capital markets related awareness among the investor community in India.

India International Exchange (IFSC) Limited (India INX) is India’s first international exchange in International Financial Services Centre (IFSC) located at the Gujarat International Finance-Tec City (GIFT City). India INX is a subsidiary of BSE Limited. The Exchange was inaugurated by Hon’ble Prime Minister of India, Shri Narendra Modi, on Jan 09, 2017, and commenced its operations from Jan 16, 2017.

About S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.

S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spglobal.com/spdji .

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March 10, 2023