From: jeffrey E. <[email protected]> Sent: Thursday, August 4, 2016 1:53 PM To: Richard Kahn Subject: Re: New Issue $25 Par Seaspan Corporation Cumulative Preferred Stock: 8.00% - 8.125%; Fixed-for-Life take 200k On Thu, Aug 4, 2016 at 9:51 AM, Richard Kahn wrote: Richard Kahn HBRK Associates Inc. Life Begin forwarded message: Shares<=p> <=iv ="m x•m r in-ri h t•m:r.x•m r in-left:=px">From: "Atla=, Andrew Subject: New lssu= $25 Par: Seaspan Corporation Cumulative Preferred Stock: 8.00% - 8.125%; =ixed-for- =ate: August 4, 2016 at 9:47:01 AM EDT = =" * - • • * - • • n-bottom:0px;margin•left=0px">To: "Richa=d Kahn ' <Here are the details: Issuer:40=M) 40 Seaspan Corporation (Ticker: "SSW ")<=u> Securities Offered: 40 41) Serie= H, Cumulative Redeemable Perpetual Preferred Size: 4t 4t $75mm (3mm $25 par Depositary Shares)<=p> EFTA_R1_01556916 EFTA02454875

4› 4> </=> Expected Ratings: 4)> 4k 41) NR/NR 4, 40 40 Price Guidance: 40 4> 40 8.00% - 8.125% (fixed-for-life)<=u> 4, 40=N) 40 Scheduled Maturity: l> 4, Perpetual Format: * 4k 4) SEC Registered 41> 4, 40 Offer Price: 40, 4, $25.00 per Depositar= Share 41> 4> 4, Payment Dates: 4> . 40=-A0 Quarterly, beginning October 30, 2016</=pan> Optional Redemption: l> 4, Callable at par anytime on or after August ( ), 2021 QtA0 4, 4) Use of Proceeds: 4, 4, Q Intend to use the net proceeds from this offering for general corporate=purposes, which may include funding acquisitions (which may include equity=interests in GCI or assets of GCI), funding capital expenditures on existing newbuild vessels =nd debt repayments. 40 4>t.A0 * QDI & DRD: . 40 QDI eligible: Yes=/ DRD eligible: No 4> * 40 Selling Restriction: 4 No sales outside of =he U.S. 4> Q * Expected Listing: 4> QtA0 * NYSE 40=ACI Let me know if you have any questions. </=> Best, 2 EFTA_R1_01556917 EFTA02454876

Andrew 4, An=rew S. Atlas First Vice President Equity*Sales/Middle Markets Group <=u> Financial Advisor Morgan Stanley=Wealth Management <tel:%2 =span style="font-size:9.0pt;colorlf595959">NM LS ID 4 1326736 NOTICE:=20 Morgan Stanley is not acting as a municipal advisor and the opinions or vie=s contained herein are not intended to be, and do not constitute, advice with=n the meaning of Section 975 of the Dodd-Frank Wall Street Reform and Consume= Protection Act. If you have received this communication in error, please de=troy all electronic and paper copies and notify the sender immediately. Mistransmission is not intended to waive confidentiality or privilege. Morg=n Stanley reserves the right, to the extent permitted under applicable law, t= monitor electronic communications. This message is subject to terms availab=e at the following link: http://www.morganstanley.com/disclaimers If you c=nnot access these links, please notify us by reply message and we will send the=20 contents to you. By communicating with Morgan Stanley you consent to the foregoing and to the voice recording of conversations with personnel of Mor=an Stanley. </=iv> 3 EFTA_R1_01556918 EFTA02454877

4 please note The information contained in t=is communication is confidential, may be attorney-client privileged, ma= constitute inside information, and is intended only for the use of =he addressee. It is the property of JEE Unauthorized use, disclosure=or copying of this communication or any part thereof is strictly prohib=ted and may be unlawful. If you have received this communication in =rror, please notify us immediately by return e-mail or by e-mail to [email protected]=m, and destroy this communication and all copies thereof, includ=ng all attachments. copyright -all rights reserved 4 EFTA_R1_01556919 EFTA02454878