MSREF V, L.L.C. (the “Adviser”) was formed in 2004 and registered with the SEC under the Investment Advisers Act of 1940, as amended (the “Advisers Act”) in 2005. The Adviser is a wholly owned indirect subsidiary of Morgan Stanley (collectively, with its affiliates, “Morgan Stanley”). As of December 31, 2022, the Adviser had approximately $ 45,886,9591 of client assets under management, all of which are managed on a discretionary basis. The Adviser provides real estate-related investment advisory services to the partnerships that comprise North Haven Real Estate Fund V International that are designed to seek capital appreciation principally through privately negotiated real estate opportunities. North Haven Real Estate Fund V International is referred to herein as the “Fund”. North Haven Real Estate V International reached the end of its dissolution period at the end of 2019, but its general partner is continuing to seek an orderly liquidation of any assets that it was permitted to retain in order to complete any construction or improvements past such dissolution period’s formal end. In providing its services to its advisory client, the Adviser formulates the client’s investment objectives, directs and manages the investment and reinvestment of assets, and provides reports to investors. The Adviser manages the assets of its advisory client in accordance with the terms of the governing documents applicable to the client. The

Adviser’s affiliation with Morgan Stanley, including Morgan Stanley Real Estate Investing, the real estate investing business of Morgan Stanley, together with its subsidiaries and the supporting units dedicated to the real estate investing business (collectively, “MSREI”), provides it with access to valuable relationships, market knowledge, and financial and operating expertise. Morgan Stanley has been engaged in the real estate business since 1969 and the investing businesses employ professionals worldwide who have demonstrated a proven ability to source deals, structure complex transactions and identify multiple exit strategies which enhance the Fund’s ability to meet its return objectives. The Fund is no longer investing in new investments, but the Adviser previously targeted investments in a broad range of real estate asset classes for the Fund from multiple sources including the following categories: (i) corporate spin- offs, liquidations and sales of real estate-related subsidiaries; (ii) publicly traded or privately held real estate operating companies; (iii) direct real estate assets; and (iv) real estate developments. The activities of the Adviser described in this Brochure may be performed by the Adviser or by one of its affiliates that acts as a general partner or managing member of the applicable client. 1 The Adviser’s assets under management for purposes of this disclosure is based on the Fund’s Net Asset Value as reported externally to limited partners.