Morgan Stanley · NYSE:MS
Morgan Stanley — Debt Investor Presentation (November 2025)
11 slides from Morgan Stanley's debt investor presentation, Nov 20, 2025
Slide 1: Morgan Stanley Fixed Income Investor Presentation
Morgan Stanley Fixed Income Investor Presentation As of November 20, 2025
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) 15.0 13.4 97.7 100.2 12.5 92.5 91.4 90.3 94.8 11.0 11.0 9.1 Common Tangible Equity Common 75.9 77.4 72.5 67.1 66.5 71.6 Equity 2020 2021 2022 2023 2024 9M25 2020 2021 2022 2023 2024 3Q25 Standardized Common Equity Tier 1 Ratio (%)(2) Su
Slide 4: Strong Liquidity Position
Strong Liquidity Position Liquidity Coverage Ratio(1) (%) Average Eligible High Quality Liquid Assets(2) ($Bn) 287 267 253 134% 132% 130% 238 239 129% 129% 129% 206 2020 2021 2022 2023 2024 3Q25 2020 2021 2022 2023 2024 3Q25 Average Total Liquidity Resources(3) ($Bn) Liquidity Resources Composition(
Slide 5: Diversified and Durable Funding Mix
Diversified and Durable Funding Mix Morgan Stanley Core Funding Core Funding Overview ($Bn) Total GAAP 1,116 1,188 1,180 1,194 1,215 1,365 Shareholders’ Deposits Assets: Equity 99 87 • Strong capital base 90 • Primarily sourced from 85 86 • Common stock Wealth Management 74 332 supplemented by $9.8B
Slide 6: Unsecured Borrowings: Diversified and Durable Funding Structure
Unsecured Borrowings: Diversified and Durable Funding Structure Unsecured Debt Issuance and Maturities(1) 2020-3Q25 Unsecured Debt Issuance (%) ($Bn) 106 By Currency By Tenor 87 90 2% 74 75 74 63 3% 6% 56 61 61 6% 45 35 USD 17% <3yrs 12% EUR 39% 3-5yrs Other 5-7yrs JPY 5% 7-10yrs 10-15yrs 2020 2021
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 September 30, 2025 IM Loans $0.05Bn 0 66 479 WM Loans 96 ISG Loans 18 $174Bn $103Bn 423 16 19 377 12 359 174 20 WM SBL & Other 9 336 17 includes ~$8
Slide 8: Credit Ratings
Credit Ratings As of November 20, 2025 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 23-27 in the Firm’s Quarterly Report on Form 10-Q for the period ended September 30, 2025. 3. At
Slide 11: Morgan Stanley Fixed Income Investor Presentation
Morgan Stanley Fixed Income Investor Presentation As of November 20, 2025
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