ning of the=Municipal Advisor Rule. Copyright 2 EFTA_R1_01554066 EFTA02453303 The copyright in materials provided by Morgan Stanley is owned by Morgan Sta=ley & Co. LLC. Morgan Stanley Wealth Management is the trade name of M=rgan Stanley Smith Barney LLC, a registered broker-dealer in the=United State

Inc.: Revving the Services Engine HBRK Associates Inc. 575 Lexington Avenue, 4th Floor<=div> New York, NY 10022 Begin forwarded m=ssage: From: "Morgan Sta=ley" Date: May 2, 2018 at 12:52:02 AM EDT To: &I= »=br>Subject: Apple, Inc.: Revving the Services Engine Re=ly-To: < <=td> <http://www.morgans

ing of the=Municipal Advisor Rule. 2 EFTA_R1_01618324 EFTA02494663 Copyright The copyright in materials provided by Morgan Stanley is owned by Morgan Sta=ley & Co. LLC. Morgan Stanley Wealth Management is the trade name of M=rgan Stanley Smith Barney LLC, a registered broker-dealer in the=United Stat

ices Rich=rd Kahn HBRK Associates Inc. 575 Lexington Avenue, 4th Floor<=div> New York, NY 10022 Tel Fax Cell Begin forwarded m=ssage: From: "Morgan Sta=ley" <ms-wmir@morganstanley=com <mailto:[email protected]» Date: March 21, 2018 at 6:24:36 PM HST To: &=t;[email protected] <mailto:r

s Into The Print; Buy Any Post-Earnings Dip Rich=rd Kahn HBRK Associates Inc. New York, NY 10022 Tel Fax Cell Begin forwarded m=ssage: From: "Morgan Sta=ley" Date: April 20, 2018 at 12:34:24 AM EDT To:= &=t; Subject: Apple, Inc.: Cautious Into The Print; Buy Any Post=Earnings Dip Reply-To: < =/d

ing of the=Municipal Advisor Rule. 2 EFTA_R1_01574855 EFTA02466340 Copyright The copyright in materials provided by Morgan Stanley is owned by Morgan Sta=ley & Co. LLC. Morgan Stanley Wealth Management is the trade name of M=rgan Stanley Smith Barney LLC, a registered broker-dealer in the=United Stat

ing of the=Municipal Advisor Rule. 2 EFTA_R1_01792980 EFTA02603628 Copyright The copyright in materials provided by Morgan Stanley is owned by Morgan Sta=ley & Co. LLC. Morgan Stanley Wealth Management is the trade name of M=rgan Stanley Smith Barney LLC, a registered broker-dealer in the=United Stat

• 24+ direct and secondary technology investments with co- investors such as Founders Fund, 500 Startups, State of NY, Microsoft and Motorola et, Morgan Sta n I ey Banc of America Securities LEHMAN BROTHERS Sa• Regina Liang Analyst • 4 years of strategy and management consulting for Fortune 500 comp

ot constitute, advice within the meaning of the=Municipal Advisor Rule. Copyright The copyright in materials provided by Morgan Stanley is owned by Morgan Sta=ley & Co. LLC. Morgan Stanley Wealth Management is the trade name of M=rgan Stanley Smith Barney LLC, a registered broker-dealer in the=United State

t constitute, advice within the meaning of the=Municipal Advisor Rule. Copyright The copyright in materials provided by Morgan Stanley is owned by Morgan Sta=ley & Co. LLC. Morgan Stanley Wealth Management is the trade name of M=rgan Stanley Smith Barney LLC, a registered broker-dealer in the=United State

The copyri=ht in materials provided by Morgan Stanley is owned by Morgan Stanley &= Co. LLC. Morgan Stanley Wealth Management is the trade name of Morgan Sta=ley Smith Barney LLC, a registered broker-dealer in the United States. @ 2017 Morgan Stanley Smith Barney =LC. Member SIPC. <http://www.morg=nstan