UpLink and Emerald Technology Ventures’ shared vision of tackling water and resource challenges across sectors has led to a symbiotic relationship that has accelerated water innovation within the UpLink ecosystem and the water sector more broadly. Key investment examples include bNovate Technologies, whose rapid microbial water monitoring solution transforms how communities and industries ensure water safety; Indra Water, whose modular electro-chemical treatment systems recycle industrial wastewater while recovering up to 99% of water; Kilimo, a data platform that optimizes irrigation, reduces water consumption and strengthens farmer resilience while enabling companies to meet water stewardship commitments; and FREDsense Technologies, which empowers field teams with on-site PFAS (per- and polyfluoroalkyl substances) detection to accelerate contamination response and remediation. These strategic investments demonstrate UpLink’s success in creating system-level partnerships with tangible outcomes and highlight Emerald’s role in scaling interconnected solutions across water quality, treatment, reuse and agricultural efficiency.This partnership sits within UpLink’s broader water investment ecosystem, which is intentionally designed to align early- stage innovation with real market demand and investable opportunities. Through close collaboration with other experienced water-focused investors, including PureTerra, DCVC and Burnt Island Ventures, UpLink helps shape challenges around priority solution areas where capital, deployment partners and scaling pathways already exist. Corporates with venture arms and water investment mandates, such as Ecolab, Microsoft and Xylem, complement this approach by providing operational validation, demand signals and adoption pathways. Together, these actors strengthen the link between sourcing, validation and financing, increasing the likelihood that aquapreneurs progress from pilot to investment and scale. The strength of this model is reflected not only in Emerald’s investments, but also in PureTerra and Ecolab’s Series B investment in Membrion, as well as the fact that 2025 has emerged as the strongest year to date for aquapreneur funding overall.Case study 6 Strategic investment accelerates water innovation Microsoft’s engagement with UpLink Ventures demonstrates how Forum partners support innovation and translate breakthrough solutions into measurable impact. Facilitated by UpLink, the collaboration between Microsoft and FieldFactors advanced urban water resilience in early 2025. FieldFactors’ BlueBloqs system has been launched in Madrid to capture, treat and redirect up to 200 million litres of rainwater annually into the Valdebebas stream.Similarly, through visibility and connections gained via UpLink, SHAYP engaged with strategic partners critical to its growth. An initial introduction at the BlueTech Forum in Edinburgh in 2024 led to discussions with Microsoft’s Water Program team on SHAYP’s role in delivering volumetric water benefits. Further engagement during Climate Week in New York helped deepen collaboration, ultimately leading SHAYP to secure its first contract with Microsoft to reduce the water footprint of Brussels data centres by equipping schools with SHAYP’s water efficiency technology.Case study 7 Corporate partnerships translate innovation into impact Uplink Annual Impact Report March 2026 16

UpLink Annual Impact Report 2026