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n Staley Asia United (which may's respasititity for its conteds) at by Balk Morgan Staley AG. Hong Kong Branch in Singapore by Morgan Stanley Asia (Singapore) Pte. (Registration amber 1992062962) ancVcr Merge) Staley Asia (Singapore) Securities Pie Ud (Registration amber 2C0008434H), regulated by the Mcnetay A
r its contents: in Korea by Morgan Staley & Co International plc, Seoul Brand[ in India by Mogan Stanley hie Company Private United; in Indonesia by PT Morgan Stanley Asia Indonesia in Canada by Wean Staley Canada United, which has approved of aid takes responsibility for its contents in Canada; in Germany by Mayan Sta
y Asia Limited (which accepts responsbifity for its contents) and by Bank Morgan Stanley AG. -Hong Kong Branch: II Singapore by Morgan Stanley Asia (Singapore) Pte. (Registration number 1992062982) anclor Morgan Stanley Asia (Singapore) Securities Pte Ltd (Registration number 200008434H). regulated by the Monet
s contents: in Korea by Morgan Stanley & Co ernational plc. Seoul Branch: in India by Morgan Stanley India Company Private Limited: in Indonesia by PT Morgan Stanley Asia Indonesia: in Canada by Morgan Stanley Canada Limited. which has approved of and takes responsibility for its contents in Canada: in Germany by Morg
y Asia Limited (which accepts responsbifity for its contents) and by Bank Morgan Stanley AG. -Hong Kong Branch: II Singapore by Morgan Stanley Asia (Singapore) Pte. (Registration number 1992062982) andor Morgan Stanley Asia (Singapore) Securities Pte Ltd (Registration number 200008434H). regulated by the Moneta
its contents: in Korea by Morgan Stanley & Co emational plc. Seoul Branch: in India by Morgan Stanley Inda Company Private Limited: in Indonesia by PT Morgan Stanley Asia Indonesia: in Canada by Morgan Stanley Canada Limited. which has approved of and takes responsitifity for its contents in Canada: in Germany by Morg
Entities connected to both Singapore) Pte and PT Morgan Stanley Asia

Hong Kong
LOCATION
Morgan Stanley
ORGANIZATIONthe Monetary Authority of Singapore
ORGANIZATIONMorgan Stanley & Co. LLC
ORGANIZATION
Frankfurt
LOCATION
Bloomberg L.P.
ORGANIZATIONCompany Data
ORGANIZATION
Reuters
ORGANIZATIONViews
ORGANIZATIONGlobal Research Conflict Management Policy
ORGANIZATIONGlobal Stock Ratings Distribution
ORGANIZATIONIndustry Views
ORGANIZATIONMorgan Stanley Smith Barney LLC Customers
ORGANIZATIONBank Morgan Stanley AG
ORGANIZATION
United States
LOCATIONResearch Management
ORGANIZATION
Tokyo
LOCATIONBank Street
ORGANIZATIONCanada Limited
ORGANIZATIONOverweight
ORGANIZATION