X0306 4 2022-08-05 0001289419 Morningstar, Inc. MORN 0001324069 Mansueto Joseph D 22 W. WASHINGTON CHICAGO IL 60602 1 1 1 0 Executive Chairman Common Stock 2022-08-05 4 S 0 3133 248.9039 D 12397547 D Common Stock 2022-08-05 4 S 0 190 249.8101 D 12397357 D Common Stock 2022-08-08 4 S 0 120 248.0017 D 12397237 D Common Stock 2022-08-08 4 S 0 4120 249.7362 D 12393117 D Common Stock 2022-08-08 4 S 0 2356 250.5652 D 12390761 D Common Stock 2022-08-08 4 S 0 1153 252.0477 D 12389608 D Common Stock 2022-08-08 4 S 0 266 252.7269 D 12389342 D Common Stock 4500000 I By Trust Common Stock 150000 I By Trust The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 9, 2022. The transaction was executed in multiple trades at prices ranging from $248.7100 to $249.5550. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $249.7900 to $250.3500. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $248.0000 to $248.0100. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $249.1800 to $250.1650. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $250.1800 to $251.1600. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $251.5100 to $252.5000. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $252.5100 to $252.8600. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected. The shares are held in grantor retained annuity trusts for the benefit of the reporting person and his children. The reporting person serves as trustee of the grantor retained annuity trusts. The shares are held in trusts for the benefit of the reporting person's children. The reporting person's spouse is trustee of the trusts. /s/ Patrick Maloney, by power of attorney 2022-08-09