Morningstar Appoints Lorraine Tan, CFA, as Director of Equity Research in Asia

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HONG KONG/SINGAPORE, 26August 2015—Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, hasappointed Lorraine Tan, CFA, as Director of Equity Research, Asia.

Based in Singapore, Tan leads11 equity analysts in Hong Kong and Shenzhen and oversees Morningstar’s Asian equity research, including institutional-quality company reports, analyst notes, pick lists, and industry and sector research, along with proprietary, qualitative ratings including the Morningstar Rating™ for stocks, Morningstar® Economic Moat™ Rating, and Fair Value Estimate. Morningstar equity analysts also publish the Observer series, in-depth sector research reports that harness Morningstar’s focus on a long-term investment horizon and economic moats—or sustainable competitive advantages—to analyze complex investment trends.

“We are pleased to have Lorraine on board,” Nick Cheung, Morningstar’s chief executive officer ofMorningstar Asia Limited, said. “She has significant experience in Asia’s financial services industry, deep knowledge of the region’s stock markets, and strong skills in analyzing stocks. Her expertise will enhance our equity research offerings to local investors to help them make better investing decisions.”

Tan has more than two decades of experience in equity research, covering a variety of sectors in the region. From 2000 to 2014, she led Standard & Poor’s equity research business in Asia. She most recently covered the energy and utilities sectors and often wrote about Asian market strategy, with a particular focus on Hong Kong and China.Before joining S&P in Singapore, she worked on the sell side with various firms in Malaysia.

Tan holds a bachelor’s degree in economics from the London School of Economics and the Chartered Financial Analyst ® (CFA) designation.

Morningstar is one of the largest providers of independent equity research, employing approximately 100 equity analysts worldwide who cover approximately 1,400 stocks. Morningstar’s equity research is published in Morningstar Select, its institutional equity research portal; and Morningstar® Analyst Research CenterSM, its web-based research portal for financial advisors and other investment professionals. More information about Morningstar’s equity research offerings is available here.

About Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than USD $180 billion in assets under advisement and management as of 30 June 2015. The company has operations in 27 countries.

Morningstar expanded to Asia in April 2000 and has grown its businesses into Japan, Korea, India, mainland China, Taiwan, Singapore, and Hong Kong. The Asia operations not only offer timely information on mutual funds, but also insightful and independent analyses, unbiased fund ratings, and sophisticated analytical tools to help both individual and professional investors make better investment decisions.

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©2015 Morningstar, Inc. All rights reserved.

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Media Contact:

Cecilica Chung, +8522973-4655orcecilica.chung@morningstar.com

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