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Disclosures:

1 The data from the Morgan Stanley at Work State of the Workplace Financial Benefits Study comes from a survey of 1,000 U.S. employed adults and 600 HR executives. Quotas were set for both audiences to match representative distributions, including for company size, benefits status and seniority. The survey was conducted on behalf of Morgan Stanley at Work using an email invitation and an online survey between September 21st and September 28th, 2021 by Wakefield Research (www.wakefieldresearch.com).

Wakefield Research is neither an employee of, nor affiliated with, Morgan Stanley Smith Barney LLC (“Morgan Stanley”).

The study has been prepared solely for information purposes. The information is in-part based on, derived from, or includes information generally available to the public and has been obtained from sources believed to be reliable. Morgan Stanley Smith Barney LLC does not guarantee their accuracy or completeness.

The study includes select statements made by certain survey participants. Morgan Stanley makes no representation or warranty concerning the content of such statements and is not implying an affiliation or approval with/of any such persons or the views expressed by such persons.

Morgan Stanley at Work services are provided by Morgan Stanley Smith Barney LLC, member SIPC, and its affiliates, all wholly owned subsidiaries of Morgan Stanley.

© 2022 Morgan Stanley Smith Barney LLC. Member SIPC.

CRC#4954596 (09/2022)

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