This communication is for informational purposes only. 

Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is the sponsor of the webinar “Liquidity Trends: Perspectives from Industry Leaders,” airing June 24, 2026. 

The webinar will include speakers from Morgan Stanley and third-party firms, including Canva and Sidley Austin LLP. Third-party speakers are not affiliated with Morgan Stanley, and their statements and views are their own and may not reflect the views of Morgan Stanley. 

Any third-party products, services, or organizations referenced are not endorsed by Morgan Stanley, and Morgan Stanley makes no representations regarding them. 

The content may include discussion of market, regulatory, legal, tax, or other topics, but it does not constitute investment advice, legal advice, tax advice, accounting advice, or a recommendation to buy or sell any security or to pursue any particular investment strategy. Viewers should consult their own advisors regarding their specific circumstances. 

Private company securities (including, without limitation, shares of privately held companies and other private securities) are speculative, highly illiquid, and involve a high degree of risk, including the possible loss of the entire investment. Private securities are not publicly traded and are not subject to the same disclosure, reporting, and regulatory requirements as publicly traded securities. Valuations of private securities are inherently uncertain, may be based on limited information, and may change materially over time; stated valuations may not reflect the price at which an investor could sell such securities (if a sale is possible at all). There may be no market for private securities, and investors may be unable to sell, transfer, or otherwise dispose of private securities when desired or at all; any sale or transfer may be subject to significant restrictions (including contractual transfer restrictions, company approval rights, rights of first refusal, lock-ups, and/or securities law limitations). Liquidity events (including tender offers, secondary sales, mergers/acquisitions, or an initial public offering) are not guaranteed to occur, may be delayed, may occur on terms that are unfavorable, or may not provide full liquidity. Any discussion of tender offers, secondary transactions, or IPO readiness is general in nature and does not constitute an offer to sell or a solicitation of an offer to buy any security, nor does it constitute a recommendation or investment advice. Any investment decision regarding private securities should be made only after reviewing the applicable offering materials and consulting with your own legal, tax, and financial advisors. Eligibility requirements may apply, including investor qualification standards (e.g., accredited investor status) and other restrictions. 

Any forward-looking statements, projections, or assumptions are subject to change and may not be realized. Past performance is not a guarantee of future results. 

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