European Infrastructure: Infrastructure investing primer: sector primer global picks

Research evidence excerpt

European Infrastructure: Infrastructure investing primer: sector primer global picks

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European Infrastructure

Infrastructure investing primer: sector

primer global picks

Industry Overview

Alongside our Infrastructure investing primer… 10 July 2026

…we identify global companies that are set to benefit from the theme. These include the Equity

Buy-rated European motorway concessions (Ferrovial), European Airports (Fraport, Aena), Pan European

European infra assets and data center developers (ACS), European Regulated Utility Global Infrastructure

Networks (National Grid, Elia), US Regulated Networks (Southwest Gas), Emerging EMEA Marcin Wojtal >>

motorways (Salik), Brazilian motorways (Motiva), Mexican Airports (ASUR), APAC Airports Research Analyst

(GMR, Beijing Capital Airport), APAC Rail (BJ-SH High Speed Rail), European Telco MLI+44 (UK)20 7996 1070

Towers (Cellnex) and US Telco Towers (AMT). See our report: Infrastructure investing marcin.wojtal@bofa.com

primer: roadmap to real assets and attractive returns, 10 July 2026. Jake McCarthy >>

Research Analyst

MLI (UK)

jacob.mccarthy2@bofa.com€1.3tn investable European universe with 13% annual TSR

We identify a €1.3bn investable universe of European Listed Infrastructure companies, Peter Bisztyga >>

which has collectively delivered a c.12.7% annualized TSR in the last 20 years, vs 8.2% MLI (UK)

for European equities and 2.4% for Government bonds. We split the European infra peter.bisztyga@bofa.com

sector into Utilities (c.€914bn market cap), Transport and Multi-infra (c.€327bn) and Alexandre Braunshausen, CFA >>

Communications (c.€34bn). The sector contains 34 companies with >€10bn market cap MLI (UK)

and 13 companies with >€30bn market cap. alexandre.braunshausen@bofa.com

Julius Nickelsen, CFA >>