MORGAN STANLEY DIRECT LENDING FUND

Tax Reporting

The tax character of distributions paid by Morgan Stanley Direct Lending Fund (NYSE: MSDL; the “Company”) (CUSIP Number: 61774A103) is set forth below. For tax purposes, the Company is a regulated investment company (“RIC”) and designates the types of distributions you received as a stockholder in 2025 in accordance with Subchapter M of the Internal Revenue Code of 1986, as amended (“IRC”).

The following table reflects the distributions declared on shares of the Company’s common stock during the year ended December 31, 2025. These distributions were classified as follows:

The Adviser does not provide tax advice. The tax information contained herein is general and is not exhaustive by nature. It was not intended or written to be used, and it cannot be used by any taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer under U.S. federal tax laws. Federal and state tax laws are complex and constantly changing. You should always consult your own legal or tax professional for information concerning your individual situation.

NOT FDIC INSURED | OFFER NO BANK GUARANTEE | MAY LOSE VALUE | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY | NOT A BANK DEPOSIT