BADGER METER INC

Ticker: BMI CUSIP: 056525108 Class: EQTY

Lazard Freres Gestion S.A.S.'s Holding History (CIK: 0001426748)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 3,250 Value ($000) $1 Avg Close $179.79 Range $166.62 - $203.51

Q3 2025

Shares 2,950 Value ($000) $1 Avg Close $195.98 Range $170.39 - $248.42

Q2 2025

Shares 2,250 Value ($000) $1 Avg Close $225.32 Range $161.21 - $254.91

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	3,250	$1	$179.79	$166.62 - $203.51
Q3 2025	2,950	$1	$195.98	$170.39 - $248.42
Q2 2025	2,250	$1	$225.32	$161.21 - $254.91