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anda Morgan Staley Mexico, Casa de Boise SA de C.V., at Morgan Stanley Canada United. As used in this disclosure section, "Morgan Staley" includes Morgan Stanley & Co. LLC, Morgan Stanley C.T.V.M. S.A. Morgan Staley Mexico. Casa de Boise SA de CV., Nagai Staley Canada United and their affiliates as necessary. Fa impor
10 EFTA_R1_02140304 EFTA02714469 Morgan Stanley Apollo Global Manarmant LLC I April 1.2015 MORGAN STANLEY RESEARCH Important Disclosures for Morgan Stanley Smith Barney LLC Customers Important disclostres regarding the relationship between the companies that are the subject of Morgan Staley Research and Morgan Stanley Smith Barn
more complete view of how a company generates earnings. Disclosure Section The information and opinions in Morgan Stanley Research were prepared by Morgan Stanley & Co. LLC. and/or Morgan Stanley MIR S.A.. C M and/or Morgan Stanley Mexico. Casa de Bolsa. S.A. de V.. ' gan Stanley Canada Limited. used in this discl
443 _tri.r.v.r.„.„,, ao . res—r-rn I ISICISINIOI JIrIMISINI . i inistnIJ st ri t:IOINIDIJI Min 4 I II IJ 07/01 2014 Important Disclosures for Morgan Stanley Smith Barney LLC Customers Important disclosures regarding the relationship between the companies that are the subject of Morgan Stanley Research and Morgan Stanley Smith Barn
more complete view of how a company generates earnings. Disclosure Section The information and opinions in Morgan Stanley Research were prepared by Morgan Stanley & Co. LLC. and/or Morgan Stanley MIR S.A.. and/or Morgan Stanley Mexico. Casa de Boise. S.A. de C.V.. ' gan Stanley Canada Limited. As used in this disclos
as follows: relevant PISCI country index or NSCI sub-regional index or ASCI AC Asia Pacific ex %lent Index. 07/01 2014 Important Disclosures for Morgan Stanley Smith Barney LLC Customers Important disclosures regarding the relationship between the companies that are the subject of Morgan Stanley Research arid Morgan Stanley Smith Bar
Entities connected to both Morgan Stanley & Co. LLC and Morgan Stanley Smith Barney LLC Customers

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