MORGAN STANLEY

Issuer Purchases of Equity Securities

1. Includes 112,777 shares acquired by the Firm in satisfaction of the tax withholding obligations on stock-based awards granted under the Firm’s stock-based compensation plans during the three months ended September 30, 2026.

2. Excludes excise tax of $15 million levied on share repurchases, net of issuances, payable in April 2027.

3. Share purchases under publicly announced authorizations are made pursuant to open-market purchases, Rule 10b5-1 plans or privately negotiated transactions (including with employee benefit plans) as market conditions warrant and at prices the Firm deems appropriate and may be suspended at any time. As previously announced, on April 18, 2018, the Firm entered into a sales plan (“Plan”) with MUFG and MS&Co., whereby MUFG sold shares of the Firm’s common stock to the Firm, through its agent MS&Co., as part of the Share Repurchase Authorization (as defined below). The Plan was suspended on December 10, 2020 and recommenced effective July 15, 2026. The Plan is intended solely to maintain MUFG’s ownership percentage below 24.9% in order to comply with MUFG’s passivity commitments to the Federal Reserve and has no impact on the strategic alliance between MUFG and the Firm, including the joint venture in Japan.

4. On June 24, 2026, the Firm announced that its Board of Directors reauthorized a multi-year repurchase authorization of up to $20 billion of outstanding common stock (the “Share Repurchase Authorization”), without a set expiration date, beginning in the third quarter of 2026, which will be exercised from time to time as conditions warrant and is subject to limitations on distributions from the Federal Reserve. The Share Repurchase Authorization is for capital management purposes and considers, among other things, business segment capital needs, as well as equity-based compensation and benefit plan requirements. For further information, see “Liquidity and Capital Resources—Regulatory Requirements—Capital Plans, Stress Tests and the Stress Capital Buffer.”