Global Exposure Guide 2026 – EEMEA

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Global Exposure Guide 2026 – EEMEA

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July 2, 2026 02:00 AM GMT

Morgan Stanley India Company Private Limited+MEEMEA Equity Strategy | EEMEA Jitiksha Shah

Equity Strategist

Global Exposure Guide 2026 – Jitiksha.Shah@morganstanley.comMorgan Stanley & Co. International plc+ +91 22 6995-9374

Matthew Nguyen

Equity StrategistEEMEA Matthew.Nguyen@morganstanley.com +44 20 7677-0773

This is the 8th edition of our Global Exposure Guide for EEMEA.

We cover 170 stocks in the region, representing >94% of the

MSCI EEMEA index. The report quantifies revenue exposure by

region and country, using Morgan Stanley analyst estimates to

provide a consistent framework where company disclosure is

often limited or not directly comparable.

Our Global Exposure Guide collection explores one of Morgan Stanley's 4 Key

Themes for 2026 - Multipolar World. With our total 29 editions across regions and

globally, our data on geographic exposures across >3,300 stocks globally can be

more helpful to investors than ever amid today's geopolitical and supply chain shifts.

EEMEA remains one of the most domestically and regionally oriented markets in

our global coverage. Around 79% of EEMEA revenues are generated within the Exhibit 1: EEMEA remains one of the most

region, led by Emerging Europe including Turkey, the Middle East and South Africa. locally oriented markets globally

Home-market exposure is also broadly stable at c.67%, reinforcing EEMEA’s Regional Revenue Exposure: Foreign vs home market (2026e)

relatively insulated revenue profile in a more fragmented global environment. 100%90%

80%

70% 63% 56% 56% 49% 45%The key internal contrast is between the Middle East and South Africa. The

60% 83% 79% 73%

Middle East remains the most domestically oriented major EEMEA sub-region, with 50%

40%