X0407 4 2023-07-05 0 0000009092 BADGER METER INC BMI 0001644492 Liu Xia 4545 W. BROWN DEER RD MILWAUKEE WI 1 0 0 0 0 Phantom Stock Units 2023-07-05 4 A 0 101.65 147.56 A BMI Common Stock 101.65 1305.24 D Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director. The phantom stock units were accrued in Ms. Liu's Badger Meter, Inc. Director Deferred Compensation Plan account as payment for her 2023 Quarter 3 retainer paid to non-employee directors in the amount of $15,000. The phantom stock units were computed at $147.56, the 6/30/2023 closing price of the Company's stock, as required by the plan. /s/ William R.A. Bergum, Attorney-in-Fact for Xia Liu 2023-07-05