X0306 4 2020-10-02 0 0000895421 MORGAN STANLEY MS 0001362383 SAPERSTEIN ANDREW M C/O MORGAN STANLEY 1585 BROADWAY NEW YORK NY 10036 0 1 0 0 Head of Wealth Management Depositary Shares 2020-10-02 4 A 0 100 A 100 D Each Depositary Share represents a 1/100th interest in a share of Morgan Stanley Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series N, $0.01 par value per share ("Preferred Stock, Series N"). Acquired as a result of a merger pursuant to the previously announced Agreement and Plan of Merger, dated as of February 20, 2020, by and among Morgan Stanley, Moon-Eagle Merger Sub, Inc. and E*TRADE Financial Corporation, as it may be amended from time to time (the "Merger Agreement"). Pursuant to the Merger Agreement, each share of E*TRADE Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B, $0.01 par value per share, outstanding immediately prior to the effective time of the merger, was cancelled in exchange for the right to receive one share of Preferred Stock, Series N. Shares of Preferred Stock Series N are represented by Depositary Shares, each representing a 1/100th interest in a share of Preferred Stock, Series N. /s/ Martin M. Cohen, Attorney-in-Fact 2020-10-06