<table><tr><th>From:</th><th>Richard Kahn &lt;</th></tr><tr><td>Sent:</td><td>Thursday, August 4, 2016 1:55 PM</td></tr><tr><td>To:</td><td>jeffrey E.</td></tr><tr><td>Subject:</td><td>Re: New Issue $25 Par: Seaspan Corporation Cumulative Preferred Stock: 8.00% -
8.125%; Fixed-for-Life</td></tr></table>

ok - confirming 200,000 of Seaspan in STC thank you

Richard Kahn
HBRK Associates Inc.

On Aug 4, 2016, at 9:52 AM, jeffrey E. <jeevacation@gmail.com> wrote:

take 200k

On Thu, Aug 4, 2016 at 9:51 AM, =ichard Kahn <█████████████> wrote:

Richard Kahn
HBRK Associates Inc.

Begin forwarded message:

From: =/b>"Atlas, Andrew S" <Andrew.████████████████████>

Subject: =/b>New Issue $25 Par: =easpan Corporation Cumulative Preferred Stock: 8.00% -

8.125%; =ixed-for-Life

To: =/b>"Richard Kah

>

Hi Rich,

Morgan Stanley is pricing a new issue SSW $25 Par Preferred =oday.

Here are the details:

Preferred Shares

<table><tr><th>Issuer: &amp;n=sp;</th><th>Seaspan</th><th>Corporation =Ticker: "SSW ")</th></tr><tr><td colspan="3">Securities=ffered: =nbsp; &amp;n=sp; Series H, Cumulative Redeemable Perpetual</td></tr><tr><td colspan="3">Size: =nbsp; &amp;n=sp; $75mm (3mm $25 par =epositary Shares)</td></tr><tr><td>&amp;nb=p;</td><td>=</td><td></td></tr><tr><td>Expected =atings:</td><td>=nbsp;</td><td>&amp;n=sp; NR/NR</td></tr><tr><td>&amp;nb=p;</td><td></td><td></td></tr><tr><td>Price==uidance:</td><td>=</td><td>&amp;=bsp; 8.00%-8.125% -fixed-for-life)</td></tr><tr><td>&amp;nb=p;</td><td>=</td><td></td></tr><tr><td>Scheduled=aturity:</td><td>=</td><td>=erpetual</td></tr><tr><td>Format: &amp;n=sp;</td><td>nbsp;</td><td>&amp;n=sp; SEC=egistered</td></tr><tr><td>&amp;nb=p;</td><td>=</td><td></td></tr><tr><td>Offer==rice:</td><td>&amp;n=sp;</td><td>&amp;nbs-; $25.00 per Depositary Share</td></tr><tr><td>&amp;nb=p;</td><td></td><td></td></tr><tr><td>Payment =ates:</td><td>=nbsp;</td><td>&amp;n=sp; Quarterly, -eginning October 30, 2016</td></tr></table>

Optional==edemption: &nb=p; Callable at par anytime on =r after August [], 2021

&nb=p; =

Use =f Proceeds: =nbsp; &n=sp; =ntend to use the net proceeds from this offering for general corporate =urposes, which may include funding acquisitions (which may include =quity interests in GCI or assets of GCI), funding capital expenditures on existing newbuild =essels and debt repayments.

&nb=p; =
QDI =amp; =RD: &nbs=; =QDI eligible: Yes / DRD eligible: No
&nb=p; =
Selling =estriction: =o sales outside of the U.S.
&nb=p; =
Expected Listing: =nbsp; &n=sp; =YSE

Let me know if you have any =uestions.

Best,

Andrew

Andrew S. Atlas

First Vice President

Equity Sales/Middle Markets Group

Financial Advisor

Morgan Stanley Wealth Management

NOTICE: Morgan Stanley is not acting as a municipal advisor and the opinions or =iews Dodd-Frank contained Wall herein Street are Reform not intended and =onsumer to be, Protection and do not Act. constitute, If you have advice received =ithin this the meaning communication of Section in error, 975 of please the =estroy all electronic and paper copies and notify the sender immediately. Mistransmission is not intended to waive confidentiality or privilege. =organ Stanley reserves the right, to the extent permitted under applicable =aw, to monitor electronic communications. This message is subject to terms =vailable at the following link: http://www.morganstanley.com/disclaimers If you =annot access these links, please notify us by reply message and we will send =he contents to you. By communicating with Morgan Stanley you consent to the =foregoing and to the voice recording of conversations with personnel of =organ Stanley.

## please =ote

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