X0306 4 2020-02-27 0 0001341317 Bridgewater Bancshares Inc BWB 0001732717 Shellberg Jeffrey D. C/O BRIDGEWATER BANCSHARES, INC. 3800 AMERICAN BLVD WEST, SUITE 100 BLOOMINGTON MN 55431 1 1 0 0 EVP and Chief Credit Officer Common Stock 2020-02-27 5 G 0 E 2500 0 D 424193 D Common Stock 304890 I By Trust Shares of common stock are held by Mr. Shellberg as co-trustee of the Jeffrey D. Shellberg Trust under agreement dated October 1, 2014. Mr. Shellberg possesses shared voting and investment power with respect to the shares of common stock held by the Jeffrey D. Shellberg Trust under agreement dated October 1, 2014. /s/ Ben Klocke, attorney-in-fact 2020-02-28