To solve the equation \( \frac{e^?}{e^{65}} = e^{38} \), we can use the properties of exponents.
First, we can simplify the left side of the equation:
\[ \frac{e^?}{e^{65}} = e^{? - 65} \]
So we can rewrite the equation as:
\[ e^{? - 65} = e^{38} \]
Since the bases are the same (both are \( e \)), we can set the exponents equal to each other:
\[ ? - 65 = 38 \]
Now, we can solve for \( ? \):
\[ ? = 38 + 65 \] \[ ? = 103 \]
Thus, the missing exponent is \( \boxed{103} \).