Investor Presentaiton

Investment Highlights STRONG COMPETITIVE POSITION WITH BROAD PORTFOLIO OF PRODUCTS AND SOLUTIONS LONG-TERM END MARKET DYNAMICS SUPPORTED BY ACCELERATION OF CHALLENGES FACING WATER INFRASTRUCTURE MODERNIZING MANUFACTURING AND DRIVING OPERATIONAL EXCELLENCE TO DELIVER GROSS MARGIN EXPANSION ACCELERATING PRODUCT DEVELOPMENT AND LEVERAGING STRENGTHS TO INCREASE TECHNOLOGY-ENABLED PRODUCTS STRONG, FLEXIBLE BALANCE SHEET AND GROWING FREE CASH FLOW WITH AMPLE LIQUIDITY Leading brand and municipal market specification positions with large installed base Comprehensive distribution network and strong end-user relationships with end-markets served by limited number of suppliers Low-cost manufacturing operations using lost foam process Favorable market dynamics in municipal and residential end-markets Aging infrastructure accelerating need for investment, estimated at $1.7 trillion according to the American Water Works Association, with $55 billion of new funding included in the federal infrastructure bill to upgrade drinking water and wastewater infrastructure (1) Enhanced operational excellence initiatives delivering ongoing productivity improvements Prioritizing capital investments to modernize manufacturing facilities, equipment and processes to drive margin expansion and continued investment in product development Expanding capabilities for American-made products and advancing sustainability initiatives Potential adoption of technology-enabled products by water utilities to actively diagnose, monitor and control the delivery of drinking water Proprietary fixed leak detection, pipe condition assessment, smart metering and software offerings for utilities to have flexible and scalable platform for infrastructure monitoring Flexible balance sheet with 1.7x net debt leverage and ample liquidity with $303.5 million available Enabling growth through capital investments and acquisitions, while historically returning cash to shareholders through dividends and share repurchases (1) American Water Works Association, Buried No Longer: Confronting America's Water Infrastructure Challenge 2012 MUELLER 5

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