Morgan Stanley Direct Lending Fund

Rule 10b5-1 Trading Plans

During the fiscal quarter ended March 31, 2024, none of our directors or executive officers adopted orterminated any contract, instruction or written plan for the purchase or sale of our securities to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement.”

Appointment of an Officer

On May 8, 2024, the Board appointed Jonathan Frohlinger as Principal Accounting Officer of the Company, effective May 10, 2024.

Mr. Frohlinger, 34, is a Vice President of Morgan Stanley and a member of the Morgan Stanley Private Credit Team where he is responsible for the finance, accounting, valuation and financial reporting functions for the MS BDCs and other direct lending vehicles. Prior to joining Morgan Stanley in 2022, Mr. Frohlinger was a Director at Blackstone Credit (“BXC”) where he held various finance roles for the BXC BDC complex. Prior to BXC, Mr. Frohlinger was an Audit Manager at Ernst & Young LLP. Mr. Frohlinger is a Certified Public Accountant in the State of New York and received his Bachelor of Science with honors in Accounting and Economics from the City University of New York.

There is no arrangement or understanding between Mr. Frohlinger and any other person pursuant to which he was appointed as Principal Accounting Officer. Further, with regard to Mr. Frohlinger, there are no transactions since the beginning of the Company’s last fiscal year, or any currently proposed transaction, in which the Company is a participant that would require disclosure under Item 404(a) of Regulation S-K promulgated by the SEC.