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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
performance shown above may have been lam( during ceilaii periods had d charged similar fees lo AGP. AGP's net exposure estimates are obtained from the Morgan Stanley Performance Measurement (MSPM) System. FaciSet provided forward-year EV/EBITDA for securities and indices. EV/EBITDA may not be available for each security, and only EV/EBI
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
performance shown above may have been looser during cerlan periods had d charged similar fees lo AGP. AGP's net exposure estimates are obtained from the Morgan Stanley Performance Measurement (MSPM) System. FactSet provided forward-year EV/EBITDA for securities and indices. EV/EBITDA may not be available for each security, and only EV/EBI
acilSet provided forward-year EV/B(3170A for securities and indices. EWEBITDA may not be available for each security, and only EWEBITDA 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 Akeon
erformance shown above may have been lower during certain periods had ti charged similar lees lo AGP. AGP's nei exposure estimates are obtained from the Morgan Stanley Performance Measurement (MSPM) System. FactSet provided forward-year EV/EBITDA for securities and indices. EV/EBITDA may not be available for each security, and only EV/EBI
Entities connected to both Alkeon and the Morgan Stanley Performance Measurement

Paul Barrett
PERSONAlkeon Capital Management
ORGANIZATIONLLC rAlkeon'
ORGANIZATIONMSCI AC
ORGANIZATIONAlkeon Growth Partners
ORGANIZATIONthe MSPM System
ORGANIZATIONAkeon Asia Growth
ORGANIZATIONAC Asa
ORGANIZATION