Disclosures:

Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. This exclusive call is prepared for informational purposes only. It is not intended to not provide individually tailored investment advice. It is prepared without regard to the individual financial circumstances and objectives of persons who receive it. Morgan Stanley Smith Barney LLC ("Morgan Stanley") recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a Morgan Stanley Financial Advisor. The appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives. Past performance is not necessarily a guide to future performance.

The guest speaker(s) is neither an employee nor affiliated with Morgan Stanley Smith Barney LLC. Opinions expressed by the guest speaker(s) are solely their own and do not necessarily reflect those of Morgan Stanley Smith Barney LLC.

 The information and data in the presentation are from sources considered reliable, but their accuracy and completeness is not guaranteed.

Tax laws are complex and subject to change. Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Morgan Stanley strongly encourages you to consult with your own tax advisor for matters involving taxation and tax planning and your attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.

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CRC# 4936452   (09/2022)