26. Furness, V., & Abnett, K. (2025, June 4). EIB commits 15 billion euros to protect EU’s water resources. Reuters. https:// www.reuters.com/sustainability/climate-energy/eib-commits-15-billion-euros-protect-eus-water-resources-2025-06-04/ 27. PitchBook. (2025, July 18). Analyst note: Water tech. https://pitchbook.com/news/reports/q3-2025-pitchbook-analyst- note-water-tech 28. Ibid. 29. Thermo Fisher Scientific. (2025, February 25). Thermo Fisher Scientific to acquire Solventum’s purification and filtration business [Press release]. https://ir.thermofisher.com/investors/news-events/news/news-details/2025/Thermo-Fisher- Scientific-to-Acquire-Solventums-Purification-and-Filtration-Business/default.aspx 30. Badger Meter. (2025, January 31). Badger Meter extends BlueEdge™ suite of solutions with acquisition of SmartCover® systems. [Press release]. https://www.badgermeter.com/en-gb/newsroom/smartcover/ 31. Scott M. (2025 January). Bridging the water finance gap as climate impacts bite. Reuters. https://www.reuters.com/ sustainability/sustainable-finance-reporting/bridging-water-finance-gap-climate-impacts-bite-2025-01-07/ 32. BNP Paribas Asset Management. (2025, April). Investment case for water remains buoyant. https://viewpoint.bnpparibas- am.com/investment-case-for-water-remains-buoyant/ 33. S&P Global Market Intelligence. (2025, April 28). Utilities positioned to ride out a recession, but stagflation could be tougher. https://www.spglobal.com/market-intelligence/en/news-insights/articles/2025/4/utilities-positioned-to-ride-out- a-recession-but-stagflation-could-be-tougher-88587136 34. Centre for Liveable Cities. (n.d.). Rethinking water sustainability with public–private partnerships. Knowledge Hub. Retrieved August 5, 2025, from https://knowledgehub.clc.gov.sg/liveability-in-action/box-story--rethinking-water- sustainability-with-public-private-partnerships- 35. Taqi, J. E. (2025, May 12). Currents of capital report 2025: Against the current—navigating challenges in the global water sector. White & Case. https://www.whitecase.com/insight-our-thinking/currents-of-capital-report-2025-against-current- navigating-challenges-global-water-sector 36. OECD. (2014, March 17). Water governance in the Netherlands: Fit for the future? OECD Studies on Water. https://doi.org/10.1787/9789264102637-en 37. Veolia Water Technologies. (n.d.). Water as a service. Retrieved August 5, 2025, from https://www.veoliawatertechnologies.com/en/water-service 38. OECD. (2010, March 15). Innovative financing mechanisms for the water sector. OECD Studies on Water. https://doi.org/10.1787/9789264083660-en 39. Dupuy, E. (2024, March 22). The $58T water ecosystem & water tech innovation. Dealroom. https://dealroom.co/blog/ the-58t-water-ecosystem-water-tech-innovation 40. IPCC. (2023). Summary for policymakers. In H. Lee, & J. Romero (eds.), Climate change 2023: Synthesis report. Contribution of Working Groups I, II and III to the Sixth Assessment Report of the Intergovernmental Panel on Climate Change (pp. 1–34). IPCC. https://doi.org/10.59327/IPCC/AR6-9789291691647.001 41. European Commission. (n.d.). Urban wastewater. Retrieved August 5, 2025, from https://environment.ec.europa.eu/ topics/water/urban-wastewater_en 42. MarketsandMarkets. (2023, February 8). Smart water management market worth $22.4 billion by 2026, growing at a CAGR of 10.1%: Report by MarketsandMarketsTM. https://www.globenewswire.com/news- release/2023/02/08/2603998/0/en/Smart-Water-Management-Market-worth-22-4-billion-by-2026-growing-at-a-CAGR- of-10-1-Report-by-MarketsandMarkets.html 43. World Resources Institute. (2025, May 29). Strengthening the investment case for climate adaptation: A triple dividend approach. https://www.wri.org/research/climate-adaptation-investment-case 44. MEED. (2024, February 14). MENA is world’s largest water projects market. https://www.meed.com/mena-is-worlds- largest-water-projects-market Investing in Water: Aligning Investment Strategies with Water Innovation 31

Investing in Water Aligning Investment Strategies with Water Innovation 2025