Moelis' 4Q19 Investor Presentation

1. February 2020

2. This presentation contains forward looking statements, which reflect the
Company’s current views with respect to, among other things, its operations and
financial performance. You can identify these forward looking statements by the
use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,”
“may,” “will,” “should,” “seeks,” “target,” “approximately,” “predicts,”
“intends,” “plans,” “estimates,” “anticipates” or the negative version of these
words or other comparable words. Such forward looking statements are subject
to various risks and uncertainties. Accordingly, there are or will be important
factors that could cause actual outcomes or results to differ materially from those
indicated in these statements. For a further discussion of such factors, you
should read the Company’s filings with the Securities and Exchange
Commission. The Company undertakes no obligation to publicly update or
review any forward looking statement, whether as a result of new information,
future developments or otherwise.
Forward Looking Statements
[ 1 ]

3. Premier Global Independent Investment Bank
 Global footprint
— 20 geographic locations in the Americas, Europe, the Middle East, Asia and Australia
 Trusted advisor
— Focus on M&A, Restructuring, Capital Markets Advisory and Private Funds Advisory
 World class coverage
— 126 MDs with an average of over 22 years of experience 1
 Consistent Performance
— Top ten global M&A advisor for completed M&A 2
— Number one Global and US restructuring advisor 3
 Strong growth with significant opportunities ahead
— Record 2H 2019 revenues of $455 million, the strongest six month period in Firm
history
 Healthy balance sheet with strong cash position and no debt or goodwill
 Commitment to return 100% of excess capital to shareholders
Notes:
1. As of 12/31/2019
2. Source: Dealogic – FY 2019 M&A Revenue
3. Source: Refinitiv – FY 2019 Completed Deals (by value) [ 2 ]

4. Moelis & Company Milestones
2007 – 2008
 Founded and Raised Growth Capital from Global Institutional Investors
 Hired Restructuring Team
2009 – 2010
 Entered Hong Kong, China, India & Middle East
 IPO in April 2014 (NYSE: MC)
 Formed Private Funds Advisory Business
2011 – 2014
 Expanded into Brazil & established German presence
 Mexico Alliance with Alfaro, Dávila y Scherer, S.C.
 Completed Energy Team build out
2015 – 2016
 Australian Joint Venture listed on Australian Securities Exchange
 Formed Shareholder Defense and Capital Solutions Group
 Expansion into Continental Europe and the Benelux & Nordic Regions
2017 – 2019
 Established European Business
 Formed Joint Venture in Australia
 Japan Alliance with SMBC/SMBC Nikko & $93 Million Investment
[ 3 ]

5. Our Business:
Relationships, Judgment and Experience
Los Angeles, US
London, UK
Hong Kong, CN
Japan
Strategic Alliance with
SMBC / SMBC Nikko
Boston, US
Dubai, UAEHouston, US
New York, USSan Francisco, US Beijing, CN
Frankfurt, DE
Mumbai, IN
Paris, FR
São Paulo, BR
Sydney, AUS
Joint Venture
Chicago, US
Melbourne, AUS
Joint Venture
Global footprint to serve client needs with over 600 bankers ¹
Washington, DC, US
Note:
1. As of 12/31/2019
Globally integrated platform valuable to clients and difficult to replicate
Mexico City, MX
Strategic Alliance
with Alfaro, Dávila y
Scherer, S.C.
Amsterdam, NL
[ 4 ]

6. Differentiated Model
Global
Collaboration
 Global partnership approach
 One firm P&L (non commission-based compensation)
 Optimal structure for client advice and talent development
High ROIC
 Profitable organic growth
 Internal talent development (34% of current MDs are promotes) 1
Commitment to
Shareholders
 Return 100% of excess cash
 Disciplined expense management
 Clean balance sheet with no debt or goodwill
Note:
1. As of 2/5/2020
[ 5 ]

7. Recent Transactions with Marquee Clients
Restructuring and Sale of
Aubstantially All Assets to
ESL Investments, Inc.
$5.5bn
Acquisition by
Expedia Group, Inc.
Sale to Cantel
Medical Corp.
Sale to Digital Realty, Inc.
Initial Public Offering
$2.6bn
$775mm
Restructuring
Acquisition of Twenty-First
Century Fox, Inc.
Acquisition of
Tarsus Group plc
Acquisition of AK Steel
Holding Corporation
£668mm
$3bn
All-Share Combination with
Flutter Entertainment plc
Sale to Goldman Sachs
Group, Inc.
Sale to Alkermes plc
Sale of Two Portfolios of
Mortgages and Unsecured
Loans
Up to $950mm
£4.9bn
Restructuring
CBS and Viacom
All-Stock Merger
Sale to Shiseido
Company, Limited
Sale to Brookfield
Infrastructure Partners LP
$845mm
$2.6bn
Acquisition of Banco
Santander Puerto Rico
Exchange of Cash and Class
C Common Stock for Class
V Tracking Stock
Sale to Nexstar
Media Group, Inc.
Common Stock
Commitment by CPPIB
$1.1bn
$21.7bn
$750mm
Exchange Offer, Consent
Solicitations, Term Loan
Amendment and Extension Exchange Offer
$4.4bn
€2.9bnTransformative Global
Collaboration with
Gilead Sciences, Inc.
Merger with Option Care
Enterprises, Inc.
$3.7bn
$750mm
$85.1bn $48bn
$7.2bn$8.4bn
$19bn
$29.4bn
(Incl. Greenshoe)
$5.1bn
$16.2bn €8.7bn
[ 6 ]

8. Compelling Investment Opportunity
 Leading track record of growth
 Differentiated model
— Strong partnership culture
— One-Firm philosophy with one global P&L
— Focus on internal development
 Significant shareholder returns over last three years
— Returned $11.50 1 in cash per share in dividends
 Strong, asset light balance sheet with no debt and no goodwill
 Longer and steadier M&A cycle; leading restructuring franchise
despite low default environment
 Continued maturation of global network
— ~ 25% of MDs have been MDs at the firm for three years or less
Note:
1. Includes dividends declared but not yet paid
[ 7 ]

9. Substantial Organic Growth and Cash
Flow Generation
Notes:
1. Based on fiscal year 2013 revenues of $411 million and fiscal year 2019 revenues of $747million
2. Represents dividend contemplated at time of IPO
3. Includes dividends declared but not yet paid
4. Includes dividends, special dividends and share repurchases
Significant Growth Since
our IPO…
Generates High Cash
Returns
With Focus on Managing
the Business…
 82% 1 revenue growth
 86 MDs at IPO and 126
today
 Entered new markets,
sectors and products
 Raised regular dividend
200% from $0.17 2 to $0.51
per quarter
 Returned $17.56 3 in cash
per share in dividends
 Returned over 65% of IPO
price in dividends 3
 Over $525 million
returned in capital with
respect to 2018 and 2019
performance years 3,4
 No debt
 No acquisitions
 No goodwill
 Expense
management
[ 8 ]

10. Growth Drivers
Premier M&A Franchise Differentiated Model
Leading Restructuring
Team
 Increasing Market Share
 Strong fundamentals of
M&A remain in place
 Technological disruption to
lead to longer cycle
 Financial Sponsors need to
put capital to work
 Global M&A volumes still
below peak 2007 levels 1
 Maturation of MDs on global
platform
 Expanding global brand
recognition
 Collaborative model delivers
exceptional client advice
 Intense focus on ROIC
 Investment in talent
development
Significant Franchise Enhancement and Shareholder Value
 Growing restructuring
business in low default
environment
 #1 Ranking for US &
Worldwide Completed
Volumes in 2019 2
 Named Top Restructuring
Adviser for the 2019 IFR
Awards
Notes:
1. Per Thomson Reuters as of January 3, 2020; based on announced deal volumes > $100mm for the twelve months ended 12/31/2019
2. Source: Refinitiv – FY 2019 Completed Deals (by value)
[ 9 ]

11. Strong Record of Organic Growth
MOELIS & COMPANY REVENUES ($MM)
M&A Y-o-Y
Change 1 13.7% (3.0%) (4.0%) 11.9% (4.5%) (6.9%) (1.2%) (3.4%) (8.0%)
Default Rates 2
1.9% 2.6% 2.8% 2.1% 2.5% 4.4% 3.4% 3.0% 2.4%
Source: Thomson Reuters
Notes:
1. Based on global completed number of M&A transactions greater than $100 million for the twelve month period ended 12/31/2019
2. Based on average trailing twelve month default rate from Moody’s “Annual Default Study: Corporate Default and Recovery Rates”
$268
$386 $411
$519
$552
$613
$685
$747
2011 2012 2013 2014 2015 2016 2017 2018 2019Market
Metrics
$886
[ 10 ]

12. Strong Balance Sheet and Disciplined
Capital Management
 Strong financial position
— Cash and liquid investments of $342 million 1
— No debt or goodwill
 Minimal capital requirements
 Commitment to return all excess capital to shareholders through dividends
and share repurchases
— Record level of open market share repurchases in 2019
— Declared special dividend of $0.75 per share in Q1 2020; eighth special
dividend declared in Firm history
— Increased regular quarterly dividend by 2% to $0.51 per share; seventh
regular quarterly dividend increase
— Board of Directors authorized $100 million repurchase plan in Q1 2019
Note:
1. As of 12/31/2019 [ 11 ]

13. Moelis & Company: Leading Dividend Yield
Note:
1. Includes all regular and special dividends declared with respect to Moelis’s activities related to each fiscal year. Dividend yield calculated based on average share price
during each fiscal year ended December 31
Commitment to Return Excess Cash to Shareholders
1
[ 12 ]
$0.60
$1.10 $1.31
$1.58
$1.91 $2.01$1.00
$0.80
$1.25
$2.50
$2.75
$0.75
$1.60
$1.90
$2.56
$4.08
$4.66
$2.76
4.9%
6.5%
9.6%
10.3%
8.9%
7.6%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%
11.0%
$-
$0.50
$1.00
$1.50
$2.00
$2.50
$3.00
$3.50
$4.00
$4.50
$5.00
2014 2015 2016 2017 2018 2019
Regular Dividends Special Dividends Dividend Yield

14. Appendix

15. Reconciliation of GAAP to
Adjusted (non-GAAP) Financials
Source: Company filings
Note:
1. Includes amortization of equity awards granted to employees and MDs in connection with the IPO; includes reclassification associated with the forfeiture of fully vested
awards and enforcement of non-compete provisions and reflects the reclassification of compensation and benefits expense associated with the Firm's gain on its sale of 20.5
million shares of Moelis Australia.
Our Adjusted results apply certain adjustments from our GAAP results, including the assumption that 100% of the Firm’s full year 2019 income was
taxed at our corporate effective tax rate. We believe the Adjusted results, when presented together with comparable GAAP results, are useful to
investors to compare our performance across periods and to better understand our operating results.
Twelve Months Ended December 31, 2019
($ in thousands) U.S. GAAP Adjustments
Adjusted
(non-GAAP)
Revenues $746,534 - $746,534
Expenses
Compensation and Benefits $488,439 $(18,185)¹ $470,254
Non Compensation Expenses $143,552 - $143,552
Total Operating Expenses $631,991 $(18,185) $613,806
Operating Income $114,543 $18,185 $132,728
Compensation Ratio 65.4 % 63.0 %
Non-Compensation Ratio 19.2 % 19.2 %
Operating Income Margin 15.3 % 17.8 %
[ 14 ]

16. Quarterly Revenue Summary
QUARTERLY REVENUE (Q1 2013 – Q4 2019) ($MM)
Source: Company filings
Note: Management primarily focuses on annual revenue measures as revenues in any quarter may not be indicative of full year results and the results of any period may vary
significantly from quarter to quarter and year to year. For the purpose of understanding the Company’s historical experience for the 9-year period of 2010-2019, revenues on
average were distributed over the four calendar quarters as follows: Q1: 21%; Q2: 24%; Q3: 26%; Q4: 30%. The quarterly revenue data for Q1 2013 through Q4 2019 was
derived from our unaudited financial statements included in our Form 10-Qs and our audited financial statements included in our Form 10-Ks. The quarterly revenue data
for 2010, 2011 and 2012 was prepared on substantially the same basis as the unaudited financial statements in our Form 10-Qs and our audited financial statements in our
Form 10-Ks and includes all normal and recurring adjustments that we consider necessary for a fair presentation of revenue for these periods
1. Sum of four quarters may not add up to 100% due to rounding
% of Full Year
Revenue 1 15% 24% 24% 38% 22% 25% 25% 28% 18% 23% 28% 32% 21% 21% 25% 33% 25% 25% 25% 25% 25% 25% 23% 27% 18% 21% 31% 30%
$60
$99 $99
$154
$115
$132 $129
$144
$99
$126
$152
$175
$126
$132
$151
$205
$173 $172 $170 $169
$219 $220
$208
$238
$138
$154
$232
$224
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2013 2014 2015 2016 2017 2018 2019
[ 15 ]

17. 51.6
10.4
2.6
4.7 69.3
20.0
30.0
40.0
50.0
60.0
70.0
80.0
Basic Class A
Common Shares
Class A Partnership
Units Held by EOs &
MDs
Class A Partnership
Units Held by Pre-IPO
Strategic Investor
Unvested RSUs and
Options
Diluted Class A
Shares / Exchangeable
Units
(As Adjusted)
Share Count Breakdown
Notes: Data represents weighted-average for the three month period ending December 31, 2019
1. Includes 1.9 million undelivered awards with no remaining service requirement
2. Includes former Managing Directors and Employees
3. In April 2020, all outstanding Class A Partnership Units will be off of lock-up
4. As calculated under the treasury stock method
For the Three Months
ended December 31, 2019
(shares in millions)
2, 3
1 4
[ 16 ]

18. %ofTotalDealCount
Source: Dealogic
Note: Percentage represents percent of total company deal count; based on completed M&A transactions from 1/1/2017 to 12/31/2019; excludes transactions less than $100
million and those with no transaction value disclosed
Historical Deal Distribution by
Transaction Size
[ 17 ]
43% 41%
49%
56%
41%
36%
23%
16%
20%
23%
18%
21%
27%
28%
24%
16%
29% 33%
7%
15%
7% 5%
11% 10%
0%
20%
40%
60%
80%
100%
Moelis Evercore Greenhill Houlihan Lazard PJT
$100mm - $500mm $500mm - $1.0bn $1.0bn - $5.0bn > $5.0bn