Solvay SA — Major Shareholding Notification 2026

Jan 20, 2026

{0}------------------------------------------------

Transparency notification Form TR-1 BE PART I

1)	Status	of the	notification
- 1 /	Olalus		Houncaudii

Final

1. Issuer

Name SOLVAY Identification number 0403-091-220

3) Reason for the notification

Acquisition or disposal of voting securities or voting rights

Downward crossing of the lowest threshold

4) Notification by

A parent undertaking or a controlling person

5) Persons subject to the notification requirement

Name	Address (for legal entities)
Morgan Stanley	c/o The Corporation Trust Company (DE), Corporation Trust Center, 1209 Orange Street, Wilmington, Delaware 19801, USA

1. Persons that dispose of voting rights (only to be filled in if art. 7 of the Law applies)

Name	Address (for legal entities)

Please continue entering the information in part II concerning the persons referred to in Sections 5 and 6

Part II

7) Date on which the threshold is crossed

12/01/2026 (DD/MM/YYYY)

1. Threshold that is crossed (in %)

3

If the holding has fallen below the lowest threshold, you have the option of not entering any numbers in Section 10

9) Denominator

105,876,416

Please enter the denominator before filling in the data

10) Notified details

A) Voting rights	Previous notification # of voting rights	After the transaction
		# of voting rights		% of voting rights
Holders of voting rights		Linked to securities	Not linked to the securities	Linked to securities	Not linked to the securities
Morgan Stanley	0	0	0	0.00%	0.00%
Morgan Stanley & Co. LLC	2,949	6,830	0	0.01%	0.00%
Morgan Stanley & Co. International plc	40,694	0	0	0.00%	0.00%
Subtotal	43,643	6,830		0.01%
TOTAL		6,830	0	0.01%	0.00%

1 S

Start with "groups" of holders. Add subtotals with $\Sigma$ , and then finish with the persons who are "alone". For groups, start with the ultimate controlling natural person or legal entity.

The totals, subtotals and % will be updated once you have clicked on CALCULATE.

{1}------------------------------------------------

Holder of equivalent financial instruments Type of financial instruments Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data Expiration data								乛
Holder of equilibrium controlled in the manual internation of the control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of control of	3) Equivalent financial instruments		After t	he transaction	1			_
Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey & CL. International pc. Legis Sovey		Type of financial instrument	Expiration date	_	that may beacquired if theinstrument is	% of voting rights	Settlement
Large Statesty A. Co. International pic. Equity Co. Co. Co. Co. Co. Co. Co. Co. Co. Co.	lorgan Stanley & Co. International plc	Retail Structured Product - Note	17/08/2037	At any time	38	0.00%	cash
The color of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control of Control o	organ Stanley & Co. International plc	Retail Structured Product - Note	02/11/2037	At any time	32,784	0.03%	cash
argam Stanley & Co. International pile County PLC (Call Options PAULY CALL Options PAULY CALL Options PAULY CALL Options PAULY CALL Options PAULY CALL Options PAULY CALL Options PAULY SC. International pile County PLC Options PAULY CALL Options PAULY CALL Options PAULY CALL Options PAULY CALL Options PAULY CALL Options PAULY CALL Options PAULY CALL Options PAULY CALL Options All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time All any time	organ Stanley & Co. International plc	Retail Structured Product - Note	27/05/2038	At any time	3,514	0.00%	cash
Does at Calagoro Total Chain of controlled underlakings through which the holding is effectively held, if applicable Places of proxy voting for only one GM Places of proxy voting for only one GM Total Chain of controlled underlakings through which the holding is effectively held, if applicable Places of proxy voting for only one GM Places of proxy voting for only one GM Total Chain of controlled underlakings through which the holding is effectively held, if applicable Places of proxy voting for only one GM Total Chain of controlled underlakings through which the holding is effectively held, if applicable Places of proxy voting for only one GM Total Chain of controlled underlakings through which the holding is effectively held, if applicable Places of proxy voting for only one GM Total Chain of Controlled underlakings through which the holding is effectively held, if applicable Places of proxy voting for only one GM Total Chain of Controlled Underlakings through which the holding is effectively held, if applicable Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Glasgoro Does at Gla	lorgan Stanley & Co. International plc	Equity Call Options	19/06/2026	At any time	637,200	0.60%	physical
Vigan Starley & Co. Intervalional pt. Spully Prid Options 16062036 All very time 741.100 0.70% photosed organization leading agreements. All Application of the Vigan of rocal own searches leading agreements. All Application 201.050 0.55% physical organization and upor a moral own recommendation and agreements. All any time 201.050 0.55% physical moral bacter follows page of rocal own recommendation and page agreements. All any time 201.050 0.55% physical and page of rocal own recommendation and page of rocal own recommendation and page of rocal own recommendation. To TAL. 10 TAL. (a. 8 b)	organ Stanley & Co. International plc	Equity Call Options	01/10/2035	At any time	380	0.00%	cash
Done at Disagon Done at Disagon On 1997-1997-1997-1997-1997-1997-1997-1997	lorgan Stanley & Co. International plc	Equity Call Options	02/11/2037	At any time	3,063	0.00%	cash
torgant Stanley & Cu. International jile of recal over econolism leviding agreements. At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At any time At a	lorgan Stanley & Co. International plc	Equity Put Options	19/06/2026	At any time	741,100	0.70%	physical
TOTAL TOTAL TOTAL TOTAL TOTAL TOTAL TOTAL 2.931.078 2.77% TOTAL 2.931.078 2.77% TOTAL 3.8 E) TOTAL 3.8 E) TOTAL 3.8 E) TOTAL 4.8 E) TOTAL 4.8 E) TOTAL 4.8 E) TOTAL 5.937,000 2.77% TOTAL 6.8 E) TOTAL 6.8 E) TOTAL 6.8 E) TOTAL 6.8 E) TOTAL 7.8 E) TOTAL 6.8 E) TOTAL 6.8 E) TOTAL 6.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOTAL 7.8 E) TOT	lorgan Stanley & Co. LLC	Right of recall over securities lending agreements	At any time	At any time	610,603	0.58%	physical
TOTAL (A & B) Total (A & B) # of veting rights but of voting rights CALCULATE 2,937,998 2,77% CALCULATE 2,937,998 2,77% 1) Full chain of controlled undertakings through which the holding is effectively held, if applicable Passa refer to Chain of Controlled Undertakings Passa refer to Chain of Controlled Undertakings Voting rights as of the controlled Undertakings	lorgan Stanley & Co. International plc	Right of recall over securities lending agreements	At any time	At any time	313,428	0.30%	physical
Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total (A & B) Total	rime Dealer Services Corp.	Right of recall over securities lending agreements	At any time	At any time	588,968	0.56%	physical
TOTAL (A & B) a of voting rights % of voting rights CALCULATE 2.597,908 2.77% 1) Full chain of controlled undertakings through which the holding is effectively held, if applicable Pease role to Chain of Controlled Undertakings		TOTAL	•		2,931,078	2.77%
TOTAL (A & B) CALCULATE 2,537,898 2,777/s 1) Full chain of controlled undertakings through which the holding is effectively held, if applicable Please refer to Chain of Controlled Undertakings Will chain to hold? Will chain to hold? Will chain to hold? Will chain to hold? John Additional information Done at Glissgan On 1601/2220 000000000000	0	The totals will be updated once you have clicked	on
2, In case of proxy voting for only one GM Helder Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold? Will cease to hold?
1) Full chain of controlled undertakings through which the holding is effectively held. # applicable Please refer to Chain of Controlled Undertakings 2) In case of proxy voting for only one GM Holder will cosse to hold? will hold again 3) Additional information Dene at Glusgov on 1801/12026 [DDMM/YYYY]		TOTAL (A & B)			# of voting rights	% of voting rights
Please refer to Chain of Controlled Undertakings 2) In case of proxy voting for only one GM Holder will case to hold? will hold again Done at Glasgow On 16:01/2028 (DDMMYYYY)				CALCULATE	2,937,908	2.77%
Holder will cease to hold / will hold again 0 voting rights as of 3) Additional information Done at Glasgow on 16/01/2028 (DD/MM/YYYY)
Holder will cease to hold / will hold again 0 voting rights as of 3) Additional information Done at Glasgow on 16/01/2028 (DD/MM/YYYY)
Holder will cease to hold / will hold again 0 voting rights as of will hold again 3) Additional information Done at Glasgow On 16/01/2026 (DD/MM/YYYY)	12) In case of proxy voting fo	or only one GM
Done at Glasgow On 16/01/2026 (DD/MM/YYYY)	Holder			0		voting rights as of	(DD/MM/YYY)	()
On 16/01/2026 (DD/MM/YYYY)	3) Additional information
On 16/01/2026 (DD/MM/YYYY)
On 16/01/2026 (DD/MM/YYYY)
On 16/01/2026 (DD/MM/YYYY)
On 16/01/2026 (DD/MM/YYYY)
On 16/01/2026 (DD/MM/YYYY)			_
	Done at	Glasgow
Name & capacity Ross Williams, Regulatory Operations Signature Ross Williams	On	16/01/202	(DD/MM/YYYY)
VIMINUM VI	Name & capacity	Ross Williams, Regulatory Operations		Signature	Ross Willia	ms

For security reasons, the unsigned form in xlsx format should be transmitted to trp.fin@fsma.be. You can do this manually OR if you have MS Outlook at your disposal via the "Save & Send" button.

In addition, a signed copy in PDF format should also be transmitted.

{2}------------------------------------------------

Chain of controlled undertakings

Chain of controlled undertakings for Morgan Stanley & Co. International plc

• Morgan Stanley & Co. International plc, 25 Cabot Square, Canary Wharf, London, E14 4QA, UNITED KINGDOM is a direct holder and is a subsidiary of Morgan Stanley Investments (UK)
• Morgan Stanley Investments (UK), 20 Bank Street, Canary Wharf, London, E14 4AD, UNITED KINGDOM is an indirect holder and is a subsidiary of Morgan Stanley International Limited
• Morgan Stanley International Limited, 25 Cabot Square, Canary Wharf, London, E14 4QA, UNITED KINGDOM is an indirect holder and is a subsidiary of Morgan Stanley International Holdings Inc.
• Morgan Stanley International Holdings Inc., c/o The Corporation Trust Company (DE), Corporation Trust Center, 1209 Orange Street, Wilmington, Delaware, 19801, USA. is an indirect holder and is a subsidiary of the beneficial owner, Morgan Stanley

Chain of controlled undertakings for Morgan Stanley & Co. LLC

• Morgan Stanley & Co. LLC, c/o The Corporation Trust Company (DE), Corporation Trust Center, 1209 Orange Street, Wilmington, Delaware, 19801, USA. is a direct holder and is a subsidiary of Morgan Stanley Capital Management, LLC.
• Morgan Stanley Capital Management, LLC, c/o The Corporation Trust Company (DE), Corporation Trust Center, 1209 Orange Street, Wilmington, Delaware, 19801, USA. is an indirect holder and is a subsidiary of the beneficial owner, Morgan Stanley

Chain of controlled undertakings for Prime Dealer Services Corp.

• Prime Dealer Services Corp., c/o The Corporation Trust Company (DE), Corporation Trust Center, 1209 Orange Street, Wilmington, Delaware, 19801, USA is a direct holder and is a subsidiary of Morgan Stanley & Co. LLC
• Morgan Stanley & Co. LLC, c/o The Corporation Trust Company (DE), Corporation Trust Center, 1209 Orange Street, Wilmington, Delaware, 19801, USA. is a direct holder and is a subsidiary of Morgan Stanley Capital Management, LLC.
• Morgan Stanley Capital Management, LLC, c/o The Corporation Trust Company (DE), Corporation Trust Center, 1209 Orange Street, Wilmington, Delaware, 19801, USA. is an indirect holder and is a subsidiary of the beneficial owner, Morgan Stanley

Morgan Stanley is not a controlled entity.