Today, BlackRock expanded its infrastructure product suite with the launch of the iShares Infrastructure Active ETF (CBOE:BILT), designed to harness the long-term growth potential of listed infrastructure companies across sectors and geographies through the efficiency and convenience of an ETF.

Infrastructure is a vital and distinctive segment of the global economy, with related investments projected to reach $68 trillion by 2040.¹ This growth is fueled by powerful forces reshaping how the world builds, connects, and powers itself, including the buildout of energy-intensive data centers, a renewed focus on energy independence in many parts of the world, and the modernization and expansion of logistic hubs such as terminals and airports as global supply chains are rewired.

"As structural shifts re-shape the global economy, we believe physical and digital infrastructure opportunities will continue to expand and accelerate," said Balfe Morrison, Head of Listed Infrastructure Strategies, Global Real Asset Securities Group at BlackRock. "Investors may be under-allocated to listed infrastructure today – partly because there is no formal sector classification for infrastructure, and the companies within the universe have represented only a small percentage of global equity indices.² BILT aims to offer investors an actively managed approach to tapping into the multi-decade growth potential of infrastructure, an asset class with lower volatility than global equity markets, in the convenience and transparency of an ETF.³"

BILT provides investors with access to a diversified portfolio of 50-60 listed infrastructure companies globally, spanning categories including transportation, energy storage and transportation, construction, and utilities. Managed by Balfe Morrison and the BlackRock Global Real Assets Securities team, BILT leverages over two decades of infrastructure investing expertise seeking alpha driven primarily by stock selection.

BILT adds to BlackRock's $10 billion infrastructure ETF suite, which includes the iShares Global Infrastructure ETF (IGF), the iShares U.S. Infrastructure ETF (IFRA) and the iShares U.S. Digital Infrastructure and Real Estate ETF (IDGT).⁴ BlackRock's broader infrastructure investing platform, Global Infrastructure Partners, manages approximately $183 billion across a diversified portfolio of more than 300 active investments across equity, debt, and solutions, with operations in over 100 countries serving clients worldwide.⁵

iShares Infrastructure Active ETF
Ticker	CBOE:BILT
Benchmark	FTSE Developed Core Infrastructure 50/50 Net TR Index
Fee	0.60%
Holdings	50-60

About BlackRock

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About iShares

iShares unlocks opportunity across markets to meet the evolving needs of investors. With more than twenty years of experience, a global line-up of 1,600+ exchange traded funds (ETFs) and over $4.7 trillion in assets under management as of June 30, 2025, iShares continues to drive progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock.

Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses which may be obtained by visiting www.iShares.com or www.blackrock.com. Read the prospectus carefully before investing.

Investing involves risk, including possible loss of principal.

The Fund is actively managed and does not seek to replicate the performance of a specified index. The Fund may have a higher portfolio turnover than funds that seek to replicate the performance of an index.

Funds that concentrate investments in specific industries, sectors, markets or asset classes may underperform or be more volatile than other industries, sectors, markets or asset classes and the general securities market.

International investing involves risks, including risks related to foreign currency, limited liquidity, less government regulation and the possibility of substantial volatility due to adverse political, economic or other developments. These risks often are heightened for investments in emerging/developing markets or in concentrations of single countries.

The Fund's use of derivatives may reduce the Fund's returns and/or increase volatility and subject the Fund to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The Fund could suffer losses related to its derivative positions because of a possible lack of liquidity in the secondary market and as a result of unanticipated market movements, which losses are potentially unlimited. There can be no assurance that the Fund's hedging transactions will be effective.

Convertible securities are subject to the market and issuer risks that apply to the underlying common stock.

Diversification and asset allocation may not protect against market risk or loss of principal.

This information should not be relied upon as research, investment advice, or a recommendation regarding any products, strategies, or any security in particular. This material is strictly for illustrative, educational, or informational purposes and is subject to change.

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").

© 2025 BlackRock, Inc. or its affiliates. All Rights Reserved. BLACKROCK and iSHARES are trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

¹ BlackRock, as of April 2025. Assumptions, opinions and estimates are provided for illustrative purposes only. They should not be relied upon as recommendations to buy or sell securities. Forecasts of financial market trends that are based on current market conditions constitute our judgment and are subject to change without notice.

² Listed Infrastructure common holdings with S&P 500 and MSCI World as of 31 May 2024, as compared to the FTSE Developed Core Infrastructure 50/50 Net TR Index.

³ Data from Morningstar as of June 2025. Compares the 15-year standard deviation of MSCI ACWI Index versus Global Infrastructure, as represented by the FTSE Global Core Infrastructure 50/50 NtTx NR Index.

⁴ BlackRock, as of July 15, 2025.

⁵ BlackRock, as of June 30, 2025.

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Media Contact

Joanna Yau

Joanna.yau@blackrock.com

646-856-7274

BlackRock Broadens Infrastructure Product Suite with Actively Managed ETF