MORGAN STANLEY

Ticker: MS CUSIP: 617446448 Class: COM

Artal Group S.A.'s Holding History (CIK: 0001053906)

Note: Option positions (PUT/CALL) are excluded.

Q3 2016
Shares 350,000 Value ($000) $11,221 Avg Close $22.85 Range $18.72 - $24.89
Q2 2016
Shares 400,000 Value ($000) $10,392 Avg Close $19.90 Range $17.61 - $21.56
Q1 2016
Shares 500,000 Value ($000) $12,505 Avg Close $19.31 Range $16.04 - $23.88
Q4 2015
Shares 300,000 Value ($000) $9,543 Avg Close $25.00 Range $22.61 - $26.92
Q3 2015
Shares 250,000 Value ($000) $7,875 Avg Close $27.26 Range $22.80 - $30.66
Q1 2015
Shares 350,000 Value ($000) $12,492 Avg Close $26.67 Range $25.09 - $29.04
Q4 2014
Shares 350,000 Value ($000) $13,580 Avg Close $26.37 Range $23.19 - $29.07
Q3 2013
Shares 100,000 Value ($000) $2,695 Avg Close $19.65 Range $17.42 - $21.61