Investor Presentaiton
Morgan Stanley E*TRADE
Strategic Rationale
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Accelerates Business Mix Towards Balance Sheet Light and More Durable Sources of Revenue (1)
Leverages Dynamic Tech-Driven Company with Iconic Brand, Providing Access to the Next Generation
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Services the Full Spectrum of Wealth Through Advisory, Workplace, and Direct Channels
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Immediately Fills in Product and Service Gaps for Both E*TRADE and Morgan Stanley Clients
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Produces Meaningful Growth Opportunities Through Combined Offering
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Generates Significant Potential Cost and Funding Synergies
Provides Opportunity for International Digital Wealth Platform
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
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