All investment solutions may not be appropriate to all investors. All investments involve risks, including the possible loss of principal. There is no assurance that any investment solution (including those that incorporate ESG factors) will achieve its investment objective. The information contained herein does not constitute and should not be construed as an offering of advisory services or an offer to sell or a solicitation to buy any securities.

¹ As of March 31, 2025. Assets under management (AUM) includes all discretionary and non-discretionary assets of Morgan Stanley Investment Management (MSIM) and all advisory affiliates. MSIM Fund of Fund assets represent assets under management and assets under supervision. MSIM direct private investing assets represents the basis on which the firm earns management fees, not the market value of the assets owned.

² This discussion of sustainable investing described herein may not be applicable to each Morgan Stanley affiliate or investment team. Further, some investment strategies may not consider ESG factors where it is not currently feasible or appropriate to do so, e.g., passive investment strategies, certain asset allocation strategies, or where requested by clients. For more information, please see Morgan Stanley Investment Management’s Sustainable Investing Policy.