Morgan Stanley · NYSE:MS
Morgan Stanley — Debt Investor Presentation (February 2026)
11 slides from Morgan Stanley's debt investor presentation, Feb 24, 2026
Slide 1: Morgan Stanley Fixed Income Investor Presentation
Morgan Stanley Fixed Income Investor Presentation As of February 24, 2026
Slide 2: Notice
Notice The information provided in this presentation may include certain non-GAAP financial measures. The definition of and/or reconciliation of such measures to the comparable U.S. GAAP figures are included in this presentation, or in the Company’s Annual Report on Form 10-K (‘Form 10-K’), Definiti
Slide 3: Strong Capital Position
Strong Capital Position Net Income(1) ($Bn) Common Equity ($Bn) 16.9 15.0 97.7 101.9 13.4 91.4 90.3 94.8 11.0 9.1 Common Tangible Equity Common 79.1 72.5 67.1 66.5 71.6 Equity 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 Standardized Common Equity Tier 1 Ratio (%)(2) Supplementary Leverage Rati
Slide 4: Strong Liquidity Position
Strong Liquidity Position Liquidity Coverage Ratio(1) (%) Average Eligible High Quality Liquid Assets(2) ($Bn) 295 134% 134% 267 132% 129% 130% 253 238 239 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 Average Total Liquidity Resources(3) ($Bn) Liquidity Resources Composition(3) (%) Average Dail
Slide 5: Diversified and Durable Funding Mix
Diversified and Durable Funding Mix Morgan Stanley Core Funding Core Funding Overview ($Bn) Total GAAP 1,188 1,180 1,194 1,215 1,420 Shareholders’ Assets: Deposits Equity 117 • Strong capital base • Primarily sourced from 87 • Common stock Wealth Management supplemented by $9.8Bn clients 90 85 86 of
Slide 6: Unsecured Borrowings: Diversified and Durable Funding Structure
Unsecured Borrowings: Diversified and Durable Funding Structure Unsecured Debt Issuance and Maturities(1) 2021-2025 Unsecured Debt Issuance (%) ($Bn) 136 By Currency By Tenor 106 2% 87 90 3% 5% 74 75 74 5% 61 61 USD 16% <3yrs 35 13% 39% 3-5yrs EUR Other 5% 5-7yrs JPY 7-10yrs 10-15yrs 2021 2022 2023
Slide 7: High Quality Lending Portfolio with Disciplined Growth
High Quality Lending Portfolio with Disciplined Growth Total Loans and Lending Commitments(1) Total Loans, net of ACL(1) ($Bn), Net of ACL ($Bn), As of December 31, 2025 IM Loans $0.09Bn 0 498 71 20 WM Loans 102 ISG Loans $181Bn $108Bn 423 14 19 377 181 12 359 20 WM SBL & Other 336 17 includes ~$7Bn
Slide 8: Credit Ratings
Credit Ratings As of February 24, 2026 Moody’s S&P Fitch Morgan Stanley Outlook Stable Stable Stable Long-Term A1 A- A+ Short-Term P-1 A-2 F1 Subordinated Debt Baa1 BBB+ A- Preferred Stock Baa3 BBB- BBB Morgan Stanley Bank, N.A. Outlook Stable Stable Stable Long-Term Aa3 A+ AA- Morgan Stanley Privat
Slide 9: End Notes
End Notes This presentation may include certain metrics, including non-GAAP financial measures, which we believe to be useful to us, investors, analysts and other stakeholders by providing further transparency about, or an additional means of assessing, our financial condition and operating results.
Slide 10: End Notes (Continued)
End Notes (Continued) These notes refer to the financial metrics presented on slide 3. 1. Net Income Applicable to Morgan Stanley. 2. For further information, refer to ‘Regulatory Requirements’ on pages 51-56 in the Firm’s Annual Report on Form 10-K for the period ended December 31, 2025. These note
Slide 11: Morgan Stanley Fixed Income Investor Presentation
Morgan Stanley Fixed Income Investor Presentation As of February 24, 2026
Morgan Stanley — Debt Investor Presentation (February 2026) on 6ix