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nti ,ncluang Won hies or securities and moron Sadao, and ere at as denated as the seoaties tartan aggegied; that consist Its Mar:A t:Mb:I ncler. the MSCI AC Warn Index or the M92i AC lea Index Lane eye anformante a the Allmon Fume Inc cenormance of the MSCA Wade Index WC! AC Ward max and MSC' AC Asa Inca
aciSet provided forward-year EV/EBITDA for securities and indices. EV/EBITDA may not be available for each security, and only EV/E8ITDA numbers that Alkeon believes to be reasonable, between 0 and 100. were used in calculations. s MS Alkeon UCITS Fund was launched on July 22, 2011. Please note MS AilteO
at comprise the MSCI World Index or the MSCI AC World Index. Unlike the performance of the Alkeon Funds, the performance of the MSCI World Index and MSCI AC World Index do not reflect the impact of fees or expenses. The index performance shown does not reflect the reinvestment of dividends and other inco
hat this document contains references to specific companies and/or securities, such references are presented solely to illustrate the application of Alkeon's investment process and should not be considered a recommendation of any particular company or security. • Compaisons to Indices. Alkeon believes
trants ,nclang siert saes securita and margn Lading, and are not as tinrented as Me seateres (wan agwageted) that convese we fa 6Ci Weal t nava the MSCI AC wand IM.en or the h197i AC lea ith4..in Vine Me penumareue ci the Aiken Funths nerormance nil the NtSCI Wald Index Wel AC Wald Index and MSC' AC Asa
actSet provided forward-year EV/EBITDA for securities and indices. EV/EBITDA may not be available for each security, and only EV/EBITDA numbers that Alkeon believes to be reasonable, between 0 and 100. were used in calculations. s MS Alkeon UOTS Fund was launched on July 22. 2011. Please note MS Saloon
at comprise the MSCI World Index or the MSCI AC World Index. Unlike the performance of the Alkeon Funds, the performance of the MSCI World Index and MSCI AC World Index do not reflect the impact of fees or expenses. The index performance shown does not reflect the reinvestment of dividends and other inco
hat this document contains references to specific companies and/or securities, such references are presented solely to illustrate the application of Alkeon's investment process and should not be considered a recommendation of any particular company or security. • Compaisons to Indices. Alkeon believes
at comprise the MSCI World Index or the MSCI AC World Index. Unlike the performance of the Alkeon Funds, the performance of the MSCI World Index and MSCI AC World Index do not reflect the impact of fees or expenses. The index performance shown does not reflect the reinvestment of dividends and other inco
hat this document contains references to specific companies and/or securities, such references are presented solely to illustrate the application of Alkeon's investment process and should not be considered a recommendation of any particular company or security. • Compaisons to Indices. Alkeon believes
Entities connected to both MSCI AC and Alkeon

Paul Barrett
PERSONAlkeon Capital Management
ORGANIZATION
Bloomberg L.P.
ORGANIZATIONMeosuiskit and Alkeon Capital Management
ORGANIZATION
BNY Mellon
ORGANIZATIONAlkeon Growth Partners
ORGANIZATIONMeasuriske
ORGANIZATIONthe Securities and Exchange Commission
ORGANIZATIONLLC rAlkeon'
ORGANIZATIONthe MSPM System
ORGANIZATIONCapital Partners Strategy
ORGANIZATIONThe Alkeon Funds'
ORGANIZATIONthe Morgan Starley Performance Measurement
ORGANIZATIONthe Morgan Stanley Performance Measurement
ORGANIZATIONAC Asa
ORGANIZATION