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M

Update

July 31, 2026 06:30 PM GMT

Discontinuation of Coverage | Europe

Morgan Stanley & Co. International plc+

Morgan Stanley Research Europe

Equity Analyst

Business Services

Effective immediately, we are discontinuing coverage of the

companies listed in the table below. The primary analyst

covering these companies is leaving Morgan Stanley Research.

All prior research on these companies should no longer be relied

upon.

Exhibit 1:

Discontinuation of Coverage

*Share price as

Ticker

Company name

of 30/07/2026

52-week range

Mkt cap

Industry

HAYS.L

Hays PLC

GBp60.30

GBp67.30-28.68

£965mn

Business Services

PAGE.L

Page Group PLC

GBp187.80

GBp282.20-101.24

£591mn

Business Services

Source: Thomson Reuters, Morgan Stanley Research.

*Share price date format shown as dd/mm/yyyy.

Morgan Stanley does and seeks to do business with

companies covered in Morgan Stanley Research. As a result,

investors should be aware that the firm may have a conflict of

interest that could affect the objectivity of Morgan Stanley

Research. Investors should consider Morgan Stanley

Research as only a single factor in making their investment

decision.