Deal Dashboard

Research evidence excerpt

Deal Dashboard

Update

July 30, 2026 06:25 PM GMT

Morgan Stanley & Co. LLCMInvestment Banks | Global Manan Gosalia

Equity Analyst

Deal Dashboard Manan.Gosalia@morganstanley.comRyan Kenny, CFA +1 212 761-4092

Ryan.Kenny@morganstanley.com +1 212 761-1664

Connell J Schmitz

Research Associate

Connell.Schmitz@morganstanley.com +1 212 761-6252

Key Takeaways

Morgan Stanley & Co. International plc+

3Q26 debut of our dashboard displays broad declines in deal activity; however, Giulia Aurora Miotto, CFA

messaging at 2Q earnings was constructive w/ pipelines at or near records. EquityGiulia.Aurora.Miotto@morganstanley.comAnalyst +44 20 7425-5344

Note that we are less than a month into the qtr; we expect public deal data to Morgan Stanley Europe S.E., Madrid Branch+

converge closer to MSe/Cons. estimates as the quarter progresses. Alvaro Serrano

Equity issuance is a bright spot with 3Q26 QTD activity trending up 63% y/y, Alvaro.Serrano@morganstanley.com +44 20 7425-6942

mainly coming from large IPOs in Asia.

Morgan Stanley & Co. LLC

Announced M&A volume in 3Q26 QTD is trending down -19% y/y following a Michael J. Cyprys, CFA, CPA

record qtr in 2Q26, mainly from lower strategic activity in North America/Asia. EquityMichael.Cyprys@morganstanley.comAnalyst +1 212 761-7619

Sponsor volume growth in 3Q26 QTD (+15% y/y) is outpacing strategic deals (- Morgan Stanley & Co. International plc+

30% y/y), in part from both easier y/y comps and sponsor recovery in motion. Franco Insausti, CFA

Franco.Insausti@morganstanley.com +44 20 7677-3769

Today's data compares 3Q26 quarter to date as of July 29 vs. the same point in time

in the prior quarter and prior year's quarter. Morgan Stanley MUFG Securities Co., Ltd.+

Mia Nagasaka

Exhibit 1: 2Q26 QTD Dealogic Fees Y/Y vs.