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ch is wholy owned by FirstRand Limited. The information in Morgan Stanley Research is being communicated by Morgan Stanley & Co. International plc (DIFC Branch). regulated by the Dubai Financial Services Authority (the DFSA). and is directed at Professional Clients only. as defined by the DFSA_ The financia
nley Smith Barney LLC or on the Morgan Stanley Wealth Management dsclosure 000 ar For Morgan Stanley specific disclosures. you may refer to Each Morgan Stanley Equity Research report is reviewed and approved on behalf of Morgan Stanley Smith Barney LLC. This review and approval is conducted by the same person who reviews t
h is wholly owned by FirstRand Limited. The information in Morgan Stanley Research is being communicated by Morgan Stanley & Co. International plc (DIFC Branch). regulated by the Dubai Financial Services Authority (the DFSA). and is directed at Professional Clients only. as defined by the DFSA. The financia
ley Smith Barney LLC or on the Morgan Stanley Wealth Management disclosure koa ar For Morgan Stanley specific disclosures. you may refer to Each Morgan Stanley Equity Research report is reviewed and approved on behalf of Morgan Stanley Smith Barney LLC. This review and approval is conducted by the same person who reviews t
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anstanley.com/online/researchdisclosures. For Morgan Stanley specific disclosures, you may refer to www.morganstanley.com/researchdisclosures. Each Morgan Stanley Equity Research report is reviewed and approved on behalf of Morgan Stanley Smith Barney LLC. This review and approval is conducted by the same person who reviews t
Page: HOUSE_OVERSIGHT_025585 →irected at Sophisticated investors only. The information in Morgan Stanley Research is being communicated by Morgan Stanley & Co. International plc (DIFC Branch), regulated by the Dubai Financial Services Authority (the DFSA), and is directed at Professional Clients only, as defined by the DFSA. The financia
Page: HOUSE_OVERSIGHT_025586 →Entities connected to both DIFC Branch and Morgan Stanley Equity Research

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LOCATIONMorgan Stanley Mexico
ORGANIZATIONMorgan Stanley Australia Limited
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ORGANIZATIONthe Financial Services Board
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