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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
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
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
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
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
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 Morgan Stanley Smith Barney LLC Customers and PT Morgan Stanley Asia

Hong Kong
LOCATIONResearch Management
ORGANIZATIONGlobal Research Conflict Management Policy
ORGANIZATIONGlobal Stock Ratings Distribution
ORGANIZATIONIndustry Views
ORGANIZATIONBank Morgan Stanley AG
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Frankfurt
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Reuters
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Morgan Stanley
ORGANIZATIONMorgan Stanley & Co. LLC
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ORGANIZATIONViews
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Tokyo
LOCATIONCompany Data
ORGANIZATIONAlnylam Pharmaceuticals
ORGANIZATIONNPS Pharmaceuticals
ORGANIZATIONBank Street
ORGANIZATIONthe Dubai Financial Services
ORGANIZATIONPrice Target
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