MORGAN STANLEY DIRECT LENDING FUND

Governance

Morgan Stanley Direct Lending Fund's (MSDL) board of directors (the “Board”) has ultimate authority over its business, but delegates authority to its investment adviser who actively sources, manages, and monitors its investment portfolio and other business activities, subject to the supervision of the Board. As a business development company ("BDC"), a majority of MSDL's Board consists of directors who are not “interested persons” of MSDL, of its investment adviser or any of their respective affiliates, as defined in the Investment Company Act of 1940, as amended.

Past performance is not indicative of future results. All information provided herein is as of December 31, 2023 unless stated otherwise and is subject to change. The information presented above should be read in conjunction with the most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K. The information herein is qualified in its entirety by the information set forth therein.

The information contained herein may not be used, reproduced, referenced, quoted, linked by website, or distributed to others, in whole or in part, except as agreed in writing by the Company.

Please also refer to "Important Information" at the bottom of this page.