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Regulation FD

The following information is included in this Current Report on Form8-K as a result of Morningstar,Inc.s policy regarding public disclosure of corporate information. Answers to additional inquiries, if any, that comply with this policy are scheduled to become available on December4, 2015.

Caution Concerning Forward-Looking Statements

This current report on Form8-K contains forward-looking statements as that term is used in the Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations about future events or future financial performance. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, and often contain words such as may, could, expect, intend, plan, see k, anticipate, believe, estimate, predict, potential, or continue. These statements involve known and unknown risks and uncertainties that may cause the events we discuss not to occur or to differ significantly from what we expect. For us, these risks and uncertainties include, among others,

liability for any losses that result from an actual or claimed breach of our fiduciary duties;

failing to differentiate our products and continuously create innovative, proprietary research tools;

failing to respond to technological change, keep pace with new technology developments, or adopt a successful technology strategy;

a prolonged outage of our database and network facilities;

any failures or disruptions in our electronic delivery systems and the Internet;

liability and/or damage to our reputation as a result of some of our pending litigation;

liability related to the storage of personal information about our users;

general industry conditions and competition, including global financial uncertainty, trends in the mutual fund industry, and continued growth in passively managed investment vehicles;

the impact of market volatility on revenue from asset-based fees;

failing to maintain and protect our brand, independence, and reputation;

changes in laws applicable to our investment advisory or credit rating operations, compliance failures, or regulatory action; and

challenges faced by our operations outside the United States, including the concentration of development work at our offshore facilities in China and India.

Investor Questions and Answers: November6, 2015

We plan to make written responses available addressing investor questions about our business on the first Friday of every month. The following answers respond to selected questions received through November4, 2015. We intend to answer as many questions as time allows, although we will not answer product support questions through this channel. We may wait to respond to a given question until the following month if we need more time to research the answer.

If you would like to submit a question, please send an e-mail to investors@morningstar.com or write to us at the following address:

Morningstar,Inc.

Investor Relations

22 W. Washington

Chicago,IL 60602

Management Succession Plan and Leadership Talent...


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