#1Morgan Stanley Deepening Client Relationships Jed Finn Chief Operating Officer of Wealth Management and Head of Corporate & Institutional Solutions June 13th, 2022#2Morgan Stanley Notice The information provided herein may include certain non-GAAP financial measures. The reconciliation of such measures to the comparable GAAP figures are included in this presentation and in the Company's most recent Annual Report on Form 10-K, Definitive Proxy Statement, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, as applicable, which are available on www.morganstanley.com. This presentation may contain forward-looking statements, including the attainment of certain financial and other targets, objectives and goals. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made, which reflect management's current estimates, projections, expectations, assumptions, interpretations or beliefs and which are subject to risks and uncertainties that may cause actual results to differ materially. The Company does not undertake to update the forward-looking statements to reflect the impact of circumstances or events that may arise after the date of forward-looking statements. For a discussion of risks and uncertainties that may affect the future results of the Company, please see the Company's most recent Annual Report on Form 10-K, Quarterly Reports on 10-Q and Current Reports on Form 8-K, as applicable, which are available on www.morganstanley.com. This presentation is not an offer to buy or sell any security. The End Notes are an integral part of this Presentation. See slides 13 and 14 at the back of this presentation for information related to the financial metrics and defined terms in this presentation. 2#3Morgan Stanley Agenda I I Recap of Strategy to Drive Next Phase of Growth Opportunity Ahead of Us Learnings To-Date The End Notes are an integral part of this Presentation. See slides 13 and 14 at the back of this presentation for information related to the financial metrics and defined terms in this presentation. 3#4Morgan Stanley Four Key Phases To Our Evolution 1 Building Scale 2009 - 2015 MorganStanley SmithBarney 2 Pairing Advice With Technology 2016-2018 Modern Wealth Platform 3 Expanding Our Channels 2019-2021 Morgan Stanley AT WORK EXTRADE from Morgan Stanley 4 Deepening Client Relationships 2022+ Client Acquisition Funnel The End Notes are an integral part of this Presentation. See slides 13 and 14 at the back of this presentation for information related to the financial metrics and defined terms in this presentation. 4#5Morgan Stanley Client Acquisition Funnel Drives Deeper Advice Relationships... 1 2 GAIN ACCESS THROUGH WORKPLACE AND SELF-DIRECTED RELATIONSHIPS BUILD TRUST AND CREDIBILITY 3 SUPPORT MIGRATION TO ADVICE The End Notes are an integral part of this Presentation. See slides 13 and 14 at the back of this presentation for information related to the financial metrics and defined terms in this presentation. 5#6Morgan Stanley ...And Integrates With The Full Firm To Serve Clients Through Corporate Lifecycle Private Market Solutions Cap Table Mgmt Private Market Liquidity Investment Banking Stock Plan Admin Public Market Solutions Executive Services Retirement Institutional Financial Solutions Consulting Wellness The End Notes are an integral part of this Presentation. See slides 13 and 14 at the back of this presentation for information related to the financial metrics and defined terms in this presentation. 6#7Morgan Stanley As We Have Grown, So Too Has the Opportunity Within Our Existing Business... Core Client Relationships (1) Wealth Held Away (2) 2019 2.5MM $2.5Tn 6x 4x 1Q 2022 16MM $10Tn+ The End Notes are an integral part of this Presentation. See slides 13 and 14 at the back of this presentation for information related to the financial metrics and defined terms in this presentation. 7#8Morgan Stanley ...With Significant Opportunity To Reach More Potential Clients By Deepening Share Industry Market Size and MSWM Share (1)(2) Stock Plan -$2Tn U.S. Stock Plan Vested and Unvested Assets Retirement Solutions ~$7Tn U.S. 401(K) Assets Institutional Consulting -$26Tn U.S. Institutional Assets Family Office -$6Tn Global Family Office Assets Morgan Stanley Wealth Management Share Non-Qualified Deferred Comp -$180Bn NQDC Assets The End Notes are an integral part of this Presentation. See slides 13 and 14 at the back of this presentation for information related to the financial metrics and defined terms in this presentation. 8#9Morgan Stanley Early Results Have Been Strong... 2021 vs. 2019 1 Gaining Access -2x Global Stock Plan Wins (1) 2 Building Trust ~3x Financial Wellness Mandates (2) 3 Supporting Migration To Advice >5x Advisor-Led Flows from Workplace (3) The End Notes are an integral part of this Presentation. See slides 13 and 14 at the back of this presentation for information related to the financial metrics and defined terms in this presentation. 9#10Morgan Stanley ...And By Investing Based On Initial Learnings, We Can Accelerate Growth Pilot Conversion Rates (%) (1) x % Base Conversion Rate 2x 1 Digital Warming 7x 2 Corporate Events 10x 3 Relationship Manager (RM) Referrals 15x 4 Exec RM Referrals The End Notes are an integral part of this Presentation. See slides 13 and 14 at the back of this presentation for information related to the financial metrics and defined terms in this presentation. 10#11Morgan Stanley Q&A Jed Finn Chief Operating Officer of Wealth Management and Head of Corporate & Institutional Solutions June 13th, 2022#12Morgan Stanley Capabilities Making A Category Of One Engage with 16MM Relationships Leader In All Channels Advisor-Led Workplace Self-Directed Offerings Across Wealth Levels and Preferences Digital Direct Digital Advice Service Models Virtual Advisor Financial Advisor Family Office Industry Leading Capabilities Capabilities Intellectual Capital Firm Specialists Alternatives Private Market Liquidity Lending Solutions Technology Goals Based Planning Aladdin Next Best Action LeadIQ Project Genome The End Notes are an integral part of this Presentation. See slides 13 and 14 at the back of this presentation for information related to the financial metrics and defined terms in this presentation. 12#13Morgan Stanley End Notes These notes refer to metrics and/or terms presented on Slide 7: 1. Core Client Relationships represents Advisor-Led Households for 4Q 2019 and represents Advisor-Led Households, Self-Directed Households, Stock Plan, Retirement and Financial Wellness participants, excluding overlap, for 1Q 2022. Stock Plan Participants represents total accounts with vested or unvested stock plan assets, as of 1Q 2022. Individuals with accounts in multiple plans are counted as participants in each plan. Retirement and Financial Wellness Participants represents participants of corporate clients with Financial Wellness and Retirement plans serviced by Morgan Stanley at Work, as of 1Q 2022. 2. Wealth Held Away is estimated using data from IXI as of April 2019 for Retail clients and as of June 2021 for Retail clients and Stock Plan participants. These notes refer to metrics and/or terms presented on Slide 8: 1. Industry Market Size based on industry sources including Cerulli U.S. DC Distribution Trends Report 2021 for Retirement Solutions market, Pensions & Investments Annual Investment Consultant Survey 2021 for Institutional Consulting market, Campden Wealth Global Family Office Report 2019 for Family Office market, 2021 PLANSPONSOR NQDC Market Survey for NQDC market. Stock Plan Industry assets derived from internal analysis of combined U.S. vested and unvested stock plan assets across Morgan Stanley, Computershare, Fidelity, Bank of America, UBS, Charles Schwab, and JP Morgan informed by latest available data. Market Share estimated on internal analysis of Morgan Stanley Wealth Management ('MSWM') client assets, as of 1Q 2022 for Retirement Solutions, Institutional Consulting, Family Office and Non-Qualified Deferred Comp ('NQDC'); Institutional Consulting Assets represent assets under advisement. For Stock Plan, represents MSWM combined U.S. vested and unvested stock plan assets as of 1Q 2022. 2. These notes refer to metrics and/or terms presented on Slide 9: 1. Global Stock Plan Wins represents annual new plan wins for corporate clients for which Morgan Stanley provides equity compensation solutions. 2019 figures are pro forma and represent the addition of Global Stock Plan Wins for Morgan Stanley and E*TRADE Financial Corporation ('E*TRADE'; acquired on October 2, 2020). Financial Wellness Mandates includes total annual number of mandates from corporate clients with Financial Wellness plans on the platform. Advisor-Led Flows from Workplace represents new assets brought into advisor-led relationships where originating account was from workplace. 2. 3. 13#14Morgan Stanley End Notes These notes refer to metrics and/or terms presented on Slide 10: 1. Pilot Conversion Rates represents conversion of eligible workplace participants to advice relationships, data as of May 2022. Base Conversion Rate conversion of leads distributed to Financial Advisors over the prior 12 months. Digital Warming conversion of participants attending MS at Work events held in 3Q 2021. Corporate Events conversion of participants attending MS at Work IPO focused events held in 1Q 2021 and 2Q 2021. Relationship Manager (RM) Referrals conversion of participants contacting call center supporting workplace participants in 2022. Exec RM Referrals conversic of executive referrals in 2022. 14#15Morgan Stanley Deepening Client Relationships Jed Finn Chief Operating Officer of Wealth Management and Head of Corporate & Institutional Solutions June 13th, 2022