BADGER METER INC

Ticker: BMI CUSIP: 056525108 Class: EQTY

State of Wyoming's Holding History (CIK: 0001821626)

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

Q4 2025

Shares 1,172 Value ($000) $204 Avg Close $179.79 Range $166.62 - $203.51

Q3 2025

Shares 984 Value ($000) $176 Avg Close $195.98 Range $170.39 - $248.42

Q2 2025

Shares 650 Value ($000) $159 Avg Close $225.32 Range $161.21 - $254.91

Q3 2024

Shares 1,140 Value ($000) $249 Avg Close $198.39 Range $179.05 - $218.24

Q2 2023

Shares 714 Value ($000) $105 Avg Close $135.17 Range $115.31 - $153.46

Q1 2023

Shares 266 Value ($000) $32 Avg Close $114.59 Range $101.78 - $122.01

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	1,172	$204	$179.79	$166.62 - $203.51
Q3 2025	984	$176	$195.98	$170.39 - $248.42
Q2 2025	650	$159	$225.32	$161.21 - $254.91
Q3 2024	1,140	$249	$198.39	$179.05 - $218.24
Q2 2023	714	$105	$135.17	$115.31 - $153.46
Q1 2023	266	$32	$114.59	$101.78 - $122.01