Investor Presentaiton

CELLULAR COMMUNICATION VS. FIXED NETWORK DATA COLLECTOR FIXED NETWORK SINGLE PURPOSE NETWORK Two-Way Communication Two Way Communication HI Two-Way Communication CELLULAR FIXED NETWORK LONG-TERM EVOLUTION M2M (LTE-M)/SMART CITY / IOT NETWORK FIXED NETWORK ENDPOINT DATA COLLECTOR CELLULAR / NETWORK BACKHAUL CLOUD-BASED MDM PLATFORM CELLULAR ENDPOINT Infrastructure Determination / Network Propagation Study 1 Monthly Data Hosting and Backhaul Subscription Fee 6 SYSTEM ENGINEERING/DEPLOYMENT Predictive Model Fixed Network Design 2 Annual Data Collector Maintenance Contracts Main provide ser ing on nce 7 Data Collector Infrastructure Permitting and Lease Negotiation 3-5 Year Battery Replacements & Inspections 8 3 Radio Tower Erecting Data Collector Installation (If Needed) 4 Periodic Outage Replacements due to Failures/Weather [1 Year Warranty) 9 Data Collector Firmware Updates ONGOING SYSTEM MAINTENANCE / FEES 10 Process (Contractor Work) 5 5-7 Year Full Data Collector Network Replacement [Contractor Work) 11 Two Way Communication AES-256 Encryption Two-Way Communication Private Network CELLULAR NETWORK CLOUD-BASED MDM PLATFORM SYSTEM ENGINEERING/DEPLOYMENT Cellular Coverage Analysis 1 Subscription Fee 2 ONGOING SYSTEM MAINTENANCE/FEES LTE-M Cellular Communication Technology - Example of Innovation Leadership O2021 Badger Meter, Inc. • Easy Flexible Resilient • Savings Standard 11

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