To solve for the missing exponent in the equation:
\[ e^{?}/e^{65} = e^{38} \]
we can rewrite the left side using the properties of exponents. Specifically, we can use the property that states:
\[ \frac{a^m}{a^n} = a^{m-n} \]
Applying this property, we have:
\[ e^{? - 65} = e^{38} \]
Since the bases (e) are the same, we can set the exponents equal to each other:
\[ ? - 65 = 38 \]
Now, we can solve for the missing exponent \( ? \):
\[ ? = 38 + 65 \] \[ ? = 103 \]
Therefore, the missing exponent is:
\[ \boxed{103} \]