25 Cabot Square Canary Wharf London E14 4QA 19 November

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25 Cabot Square Canary Wharf London E14 4QA 19 November Morgan Stanley & Co. International plc 25 Cabot Square Canary Wharf London E14 4QA 19 November 2020 MORGAN STANLEY & CO. INTERNATIONAL plc As Issuer (incorporated with limited liability in England and Wales) in relation to the Exchange Traded Program for the Issuance of Warrants and Certificates and Base Prospectus for Warrants and Certificates dated 5 July 2019 ISSUER CALL NOTICE (the “Notice”) The Issuer hereby notifies the Securityholders that it has exercised its right to terminate the securities identified in the table below (the "Securities") in full in accordance with Paragraph 1(b) (Issuer Call Option) of the applicable section of the Additional Terms and Conditions, with effect as of 26 November 2020 (the “Termination Date”). The Securityholders are entitled to receive the Optional Settlement Amount, determined by the Determination Agent in accordance with Paragraph 2(b) of the applicable section of the Additional Terms and Conditions on the day which is not later than the tenth Business Day following the Termination Valuation Date. The “Termination Valuation Date” will be on 4 January 2021. Capitalised terms used but not defined shall have the meaning given to them in the Base Prospectus for Warrants and Certificates dated 5 July 2019, available from the offices of the Issuer and on the Issuer’s website at www.morganstanley.com/etp. Contact details: Morgan Stanley & Co. International plc 20 Bank Street Canary Wharf London E14 4AD United Kingdom E-mail: [email protected] Signed on behalf of the Issuer: 2 ISIN Issue Date Securities GB00BG62SM96 13/12/2019 Const Lev Bear Atlas Copco A X8 GB00BG642C30 12/02/2020 Const Lev Bear NASDAQ 100 X8 GB00BKZY8020 02/03/2020 Const Lev Bull DAX X10 GB00BKZYS350 11/03/2020 Const Lev Bear OMX S30 X15 GB00BKZYSZ73 11/03/2020 Const Lev Bear NASDAQ 100 X8 GB00BKZZNB18 19/03/2020 Const Lev Bear OMX S30 X15 GB00BKZZYS57 27/03/2020 Const Lev Bear NASDAQ 100 X12 GB00BL00M331 29/04/2020 Const Lev Bear DAX X15 GB00BL014P27 18/05/2020 Const Lev Bear S&P 500 X18 GB00BL014Q34 18/05/2020 Const Lev Bear NASDAQ 100 X18 3 .
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