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Investor Presentaiton

Morgan Stanley EXTRADE 5 Technology Penetration and Service Capabilities Will Help Capture Greater Share of Wealth Morgan Stanley (1) E*TRADE (2) Pro Forma Client Assets Held Away ($Tn) $2.6 $1.5 $3.2+ ~$7.3+ Retail Clients Stock Plan Participants Retail Clients Combined and Stock Plan Participants Growth Opportunities to Capture Assets Deepen relationships with E*TRADE clients with attractive demographics Accelerate combined Workplace efforts Capture self-directed assets of Morgan Stanley clients held away Provide advisory product offerings to E*TRADE clients Establish advice relationships with E*TRADE's Stock Plan Participants Position Morgan Stanley to become the primary banking relationship for our clients The End Notes are an integral part of this Presentation. See slides 19-22 at the back of this presentation for information related to the financial metrics and defined terms in this presentation 12
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