¹ For Illustrative Purposes Only. Information on this page should be viewed as a guide, each strategy may invest in assets outside of the ranges provided. There are no guarantees that the team will be able to source assets at these levels and that market conditions will not change.

² As of July 1, 2024. Based on actual capital commitments received plus (except as specified in the following sentence) committed leverage, where applicable. A portion of available capital is comprised of business development companies sponsored by Morgan Stanley Private Credit for which available capital is calculated based on actual capital commitments received or (for non-drawdown structures) subscription amounts plus, in each case, target leverage of 1.25x as measured by debt-to-equity (“BDC Target Leverage”). BDC Target Leverage is subject to agreement of terms with financing providers, compliance with certain asset coverage ratio requirements under the Investment Company Act of 1940, as amended, and compliance with financial covenants under loan and credit agreements and accordingly, may not be achieved.