Investor Presentaiton

Morgan Stanley EXTRADE Pro Forma Summary Financial Impact Wealth Management (1) Client Assets Client Relationships $3.1Tn EPS (2) ~8.2MM And Accounts Stock Plan Participants ~4.6MM Capital (2) Stock Plan Balances ~$580Bn Revenue $21Bn ROTCE / TBVPS (3) Pre-Tax Margin 30% Morgan Stanley . • Accretive once fully phased-in estimated cost and funding synergies are realized Incremental synergies provide upside to future EPS 30bps+ accretive to CET1 Maintain current buyback, subject to certain restrictions; future buybacks subject to CCAR Improves CCAR / stress testing profile Dilution to Tangible Book Value Per Share, offset by 100bps+ accretion to ROTCE once estimated cost and funding synergies are realized 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 17

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