Investor Presentaiton

m. JJJ Creating Long-Term Shareholder Value by Enabling Sustainability-Driven Outcomes for Customers • Innovation leader with expanding technology- enabled software offerings • Elevated backlog, strong order rates Growing SaaS revenue base . • Durable macro trends support long-term smart water solution adoption • 85% replacement-driven base demand . • Demonstrated benefits of efficiency, resiliency and sustainability . Strong cash flow and borrowing capacity • Organic and inorganic strategic growth investments • Dividend aristocrat . Differentiated performance on evolving macro- challenges related to inflation, component availability, etc. • Positive structural mix and SEA leverage drive margins Consistently Resilient Results . Strong engagement . . Values-driven Customer-focused execution Constructive Industry Backdrop Investing for Growth Differentiated Execution Exceptional Team Our Core Values © 2023 Badger Meter, Inc. 10

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