Brokers, Asset Managers & Exchanges: Comp Sheet and Consensus EPS Revision Tracker

Research evidence excerpt

Brokers, Asset Managers & Exchanges: Comp Sheet and Consensus EPS Revision Tracker

FoundationMMorgan Stanley is acting as financial advisor to Invesco Ltd. (“Invesco”) in relation to a

definitive agreement under which CI Global Asset Management will acquire management

agreements relating to Invesco’s Canadian fund business, and the two companies will enter

into a long-term strategic partnership, as announced on January 13th, 2026. The proposed

transaction subject to customary closing conditions, including receipt of regulatory

approvals. Invesco has agreed to pay fees to Morgan Stanley for its financial services,

including transaction fees that are contingent upon the consummation of the proposed

transaction. Please refer to the notes at the end of this report.

Morgan Stanley is acting as a financial advisor to Ares Management Corporation (“Ares”)

in relation to their definitive merger agreement between certain Ares Real Estate funds and

Whitestone REIT (“Whitestone”), as announced on April 9, 2026. The transaction is subject

to Whitestone shareholder approval and other customary closing conditions. This re-port

and the information provided herein is not intended to (i) provide voting advice, (ii) serve as

an endorsement of the proposed transaction, or (iii) result in the procurement, withholding

or revocation of a proxy or any other action by a security holder. Ares has agreed to pay

fees to Morgan Stanley for its financial services, including transaction fees that are

contingent upon the consummation of the transaction. Please refer to the notes at the end

of the report.

Morgan Stanley is acting as financial advisor to KKR Asia Limited ("KKR") in relation to

certain matters. KKR may agree to pay fees to Morgan Stanley for its financial services.