Morgan Stanley Investor Presentation Deck

Morgan Stanley 4 Demonstrate Operating Leverage and Increase Profitability Improvement in Efficiency Ratio Firm Expense Efficiency Ratio (%) (¹) 79% 2014 74% 2016 72% 2018 70% 2020 Pre-Tax Profit ($Bn) (2) 7.2 Enhances Profit Expansion 2014 8.8 2016 Integration-Related Expenses 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 11.2 2018 14.6 2020 16

View entire presentation