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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 →ritas Indonesia; in Canada by Morgan Stanley Canada Limited, which has approved of and takes responsibility for its contents in Canada; in Germany by Morgan Stanley Bank AG, Frankfurt am Main and Morgan Stanley Private Wealth Management Limited, Niederlas- sung Deutschland, regulated by Bundesanstalt fuer Finanzdienstlei
Page: HOUSE_OVERSIGHT_025586 →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
Asia Indonesia: in Canada by Morgan Stanley Canada Limited. which has approved of and takes responsibility for its contents in Canada: in Germany by Morgan Stanley Bank AG. Frankfurt am Main and Morgan Stanley Private Wealth Management Limited. Niededassung Deutschland. regulated by Bundesanstall fuer Finanzebenstlerst
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
Asia Indonesia: in Canada by Morgan Stanley Canada Limited. which has approved of and takes responsitifity for its contents in Canada: in Germany by Morgan Stanley Bank AG. Frankfurt am Main and Morgan Stanley Private Wealth Management Limited. Niederlassung Deutschlard. regulated by Bundesanstalt fuer Finanzekenstlers
Entities connected to both DIFC Branch and Morgan Stanley Bank AG

Frankfurt
LOCATION
United States
LOCATION
Tokyo
LOCATIONCasa de Bolsa
ORGANIZATIONMorgan Stanley Equity Research
ORGANIZATIONMorgan Stanley Mexico
ORGANIZATIONMorgan Stanley Australia Limited
ORGANIZATIONResearch Management
ORGANIZATION
Morgan Stanley
ORGANIZATIONthe Financial Services Board
ORGANIZATIONthe Capital Markets Board of Turkey
ORGANIZATION
Kowloon
LOCATION
Reuters
ORGANIZATION
Bloomberg L.P.
ORGANIZATION
Hong Kong
LOCATIONSingapore) Pte
ORGANIZATIONDavid Friedman
PERSONCanada Limited
ORGANIZATIONCompany Data
ORGANIZATIONOverweight
ORGANIZATION