Morgan Stanley Investor Presentation Deck

Morgan Stanley 2020: Our Business Model Performed and Delivered Record Results Firm Net Revenues Efficiency Ratio (³) Net Income ROTCE (4) EPS (5) Common Equity Tier 1 Ratio (6) 2010 - 2014 Adjusted Year Ended December 31, 2014 (1) $34Bn 79% $4.5Bn 7.5% $2.13 10.9% 2015-2019 Year Ended December 31, 2019 $41Bn 73% $9.0Bn 13.4% $5.19 16.4% The End Notes are an integral part of this Presentation. See slides 19-26 at the back of this presentation for information related to the financial metrics and defined terms in this presentation 2020 Year Ended December 31, 2020 (2) $48Bn 70% $11.0Bn 15.4% $6.58 17.4% 3

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