MS

Restricted stock units granted under the Morgan Stanley Directors' Equity Capital Accumulation Plan, which are convertible into shares of Common Stock at a ratio of 1 to 1.

Restricted stock units granted under the Morgan Stanley Directors' Equity Capital Accumulation Plan, which are convertible into shares of Common Stock at a ratio of 1 to 1.

Deferred stock units granted under the Morgan Stanley Directors' Equity Capital Accumulation Plan in lieu of cash retainers paid for service on the Morgan Stanley Board of Directors. Stock units are convertible into shares of Common Stock at a ratio of 1 to 1.

Restricted stock units granted under the Morgan Stanley Directors' Equity Capital Accumulation Plan, which are convertible into shares of Common Stock at a ratio of 1 to 1.

Restricted stock units granted under the Morgan Stanley Directors' Equity Capital Accumulation Plan, which are convertible into shares of Common Stock at a ratio of 1 to 1.

Deferred stock units granted under the Morgan Stanley Directors' Equity Capital Accumulation Plan in lieu of cash retainers paid for service on the Morgan Stanley Board of Directors. Stock units are convertible into shares of Common Stock at a ratio of 1 to 1.

Restricted stock units granted under the Morgan Stanley Directors' Equity Capital Accumulation Plan, which are convertible into shares of Common Stock at a ratio of 1 to 1.

Deferred stock units granted under the Morgan Stanley Directors' Equity Capital Accumulation Plan in lieu of cash retainers paid for service on the Morgan Stanley Board of Directors. Stock units are convertible into shares of Common Stock at a ratio of 1 to 1.

Restricted stock units granted under the Morgan Stanley Directors' Equity Capital Accumulation Plan, which are convertible into shares of Common Stock at a ratio of 1 to 1.

Restricted stock units granted under the Morgan Stanley Directors' Equity Capital Accumulation Plan, which are convertible into shares of Common Stock at a ratio of 1 to 1.

Restricted stock units granted under the Morgan Stanley Directors' Equity Capital Accumulation Plan, which are convertible into shares of Common Stock at a ratio of 1 to 1.

Deferred stock units granted under the Morgan Stanley Directors' Equity Capital Accumulation Plan in lieu of cash retainers paid for service on the Morgan Stanley Board of Directors. Stock units are convertible into shares of Common Stock at a ratio of 1 to 1.

Deferred stock units granted under the Morgan Stanley Directors' Equity Capital Accumulation Plan in lieu of cash retainers paid for service on the Morgan Stanley Board of Directors. Stock units are convertible into shares of Common Stock at a ratio of 1 to 1.

Restricted stock units granted under the Morgan Stanley Directors' Equity Capital Accumulation Plan, which are convertible into shares of Common Stock at a ratio of 1 to 1.

Shares withheld to satisfy taxes upon the conversion of stock units granted to the Reporting Person under the Morgan Stanley Directors' Equity Capital Accumulation Plan as part of her director compensation.

Restricted stock units granted under the Morgan Stanley Directors' Equity Capital Accumulation Plan, which are convertible into shares of Common Stock at a ratio of 1 to 1.

Restricted stock units granted under the Morgan Stanley Directors' Equity Capital Accumulation Plan, which are convertible into shares of Common Stock at a ratio of 1 to 1.

Restricted stock units granted under the Morgan Stanley Directors' Equity Capital Accumulation Plan, which are convertible into shares of Common Stock at a ratio of 1 to 1.

The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $188.72 to $189.65, inclusive. The Reporting Person undertakes to provide to Morgan Stanley, any security holder of Morgan Stanley, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $186.89 to $187.84, inclusive. The Reporting Person undertakes to provide to Morgan Stanley, any security holder of Morgan Stanley, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $191.80 to $192.34, inclusive. The Reporting Person undertakes to provide to Morgan Stanley, any security holder of Morgan Stanley, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $188.89 to $189.30, inclusive. The Reporting Person undertakes to provide to Morgan Stanley, any security holder of Morgan Stanley, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $189.77 to $190.76, inclusive. The Reporting Person undertakes to provide to Morgan Stanley, any security holder of Morgan Stanley, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $187.89 to $188.88, inclusive. The Reporting Person undertakes to provide to Morgan Stanley, any security holder of Morgan Stanley, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $186.77 to $187.76, inclusive. The Reporting Person undertakes to provide to Morgan Stanley, any security holder of Morgan Stanley, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $188.77 to $189.63, inclusive. The Reporting Person undertakes to provide to Morgan Stanley, any security holder of Morgan Stanley, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $187.77 to $188.76, inclusive. The Reporting Person undertakes to provide to Morgan Stanley, any security holder of Morgan Stanley, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $190.77 to $191.76, inclusive. The Reporting Person undertakes to provide to Morgan Stanley, any security holder of Morgan Stanley, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Shares withheld to satisfy taxes upon the conversion of the PSU Award described in footnote (1).

Shares withheld to satisfy taxes upon the conversion of the PSU Award described in footnote (1).

Shares withheld to satisfy taxes upon the conversion of the PSU Award described in footnote (1).

Shares withheld to satisfy taxes upon the conversion of the PSU Award described in footnote (1).

Shares withheld to satisfy taxes upon the conversion of the PSU Award described in footnote (1).

Shares withheld to satisfy taxes upon the conversion of the PSU Award described in footnote (1).

Shares earned based on the Company's achievement of pre-established relative return on tangible common equity performance criteria with respect to one-half of the target performance stock unit award ("PSU Award") granted on January 18, 2023.

Shares earned based on the Company's achievement of pre-established relative return on tangible common equity performance criteria with respect to one-half of the target performance stock unit award ("PSU Award") granted on January 18, 2023.

Shares withheld to satisfy taxes upon the conversion of the PSU Award described in footnote (1).

Shares earned based on the Company's achievement of pre-established relative return on tangible common equity performance criteria with respect to one-half of the target performance stock unit award ("PSU Award") granted on January 18, 2023.

Shares earned based on the Company's achievement of pre-established relative return on tangible common equity performance criteria with respect to one-half of the target performance stock unit award ("PSU Award") granted on January 18, 2023.

Shares earned based on the Company's achievement of pre-established relative return on tangible common equity performance criteria with respect to one-half of the target performance stock unit award ("PSU Award") granted on January 18, 2023.

Shares earned based on the Company's achievement of pre-established relative return on tangible common equity performance criteria with respect to one-half of the target performance stock unit award ("PSU Award") granted on January 18, 2023.

Shares earned based on the Company's achievement of pre-established relative return on tangible common equity performance criteria with respect to one-half of the target performance stock unit award ("PSU Award") granted on January 18, 2023.

Shares earned based on the Company's achievement of pre-established Company average return on tangible common equity performance criteria with respect to one-half of the target performance stock unit award ("PSU Award") granted on January 18, 2023.