Annelies Vermeulen Equity Analyst Annelies.Vermeulen@morganstanley.com +44 20 7425-4367 July 8, 2026 03:00 AM GMT TESTING, INSPECTION AND CERTIFICATION QUARTERLY CHARTBOOK 2Q26: China export data improving; Expect MSD % organic for 2Q M O R G A N S T A N L E Y R E S E A R C H Source: Morgan Stanley Research estimates. Priced 6th July • TIC shares have traded with dispersion YTD; BVI has de-rated on the guidance downgrade at 1Q, Middle East exposure and Govt Services contract exits, while SGS and Eurofins ha ...