CONFIDENTIAL | © 2013 Badger Meter, Inc.

Competitive Technology Roundtable Metron/Verizon, Sensus CONFIDENTIAL | © 2013 Badger Meter, Inc.

Breakout Session Objective & Agenda Gain competitive insights for build sales strategies via group discussion - sharing your experiences of the strengths and weaknesses of the following competitors. Agenda Metron Meters & Technology Verizon Wireless Sensus Meters & Technology CONFIDENTIAL | © 2013 Badger Meter, Inc.

Metron Farnier / Transparent- Technolgies / Verizon CONFIDENTIAL | © 2013 Badger Meter, Inc.

CONFIDENTIAL | © 2013 Badger Meter, Inc. METRON Meters Single Jet Meters SPECTRUM Residential 5/8” – 1” SPECTRUM Commercial 1.5” to 6” Compound Meter accuracy ENDURO Fire Service 6” to 8” Installation Issues Horizontal Positioning Hydraulic Disturbance/Turbulence Water Quality Passes Sand CONFIDENTIAL | © 2013 Badger Meter, Inc.

METRON UNIVERAL REGISTER and CELLULAR TRANSMITTER INNOV8-VN with M2-VN Verizon 3G Cellular currently / migrating to 4G No Infrastructure required Down to 1 minute interval data Full 2 Way Communication Web interface/Cloud data Storage Electronic Register with Embedded CDM (cellular radio) No Cost Laptop & Software 32,000 data points within register 10,000 data points within endpoint Output for remote shutoff is available Connection to most existing displacement, Multi-jet, and Turbine Meters. “Translator” type encoder must be used, radio not available separately to connect to meter manufacturer’s encoders. Even connection to Badger Meter is advertised and has been confirmed to operate correctly. CONFIDENTIAL | © 2013 Badger Meter, Inc.

METRON FARNIER SOFTWARE SOLUTION CONFIDENTIAL | © 2013 Badger Meter, Inc.

CONFIDENTIAL | © 2015 Badger Meter, Inc.

CONFIDENTIAL | © 2013 Badger Meter, Inc. METRON VS. ORION® METRON ORION® INNOV8-VN with M2-VN Verizon 3G Cellular No Infrastructure required Down to 1 minute interval data Full 2 Way Communication Web interface/Cloud data Storage MicroSoft Azure http://www.networkworld.com/article/2850114/cloud-computing/gartner-s-cloud-showdown-amazon-web-services-vs-microsoft-azure.html Electronic Register with Embedded CDM (cellular radio) Endpoint can be read with a handheld. Connection to most displacement, multi-jet, and turbine Meters thru 2” only. “Translator” type encoder must be used, radio not available separately to connect to meter manufacturer’s encoders. Solution is sold through Verizon. ORION® Cellular Endpoint Multiple Cellular Options and Automatically selects carrier with strongest signal No Infrastructure required Field proven Packaging 15 minute interval data Full 2 Way Communication BEACON® Software Suite Superior Works with all Badger Encoders offering Superior Sealing against Moisture Intrusion Compatible with most competitor encoders Badger Meter Company Longevity and Stability CONFIDENTIAL | © 2013 Badger Meter, Inc.

METRON Offering continued Starter kit offered at $500 6 month agreement 5 units Approximately 70 units sold nationwide. INNOV8 and M2-VN ~ $260 for 10 years. All-in price. Offered and sold only through Verizon! CONFIDENTIAL | © 2013 Badger Meter, Inc.

Verizon Enterprise Strategy CONFIDENTIAL | © 2013 Badger Meter, Inc.

Verizon Enterprise Strategy CONFIDENTIAL | © 2013 Badger Meter, Inc.

CONFIDENTIAL | © 2015 Badger Meter, Inc. Verizon Offers Product Support Commitment Level Featuring a performance-based, tiered structure and benefits that increase along with your effort and investment, the program lets you determine your level of commitment and progress through the different levels at your own pace. Verizon Communications is moving rapidly to establish itself as an “end to end smart grid solutions provider,” providing utility smart meters for gas, electric, and water service that communicate over Verizon Wireless’ cellular network. Water Partners at various commitment levels: * Aclara: Metrum–Cellular * Capstone: IntelliH2O * ITRON: Openway CONFIDENTIAL | © 2015 Badger Meter, Inc.

CONFIDENTIAL | © 2013 Badger Meter, Inc. Sensus CONFIDENTIAL | © 2013 Badger Meter, Inc.

CONFIDENTIAL | © 2013 Badger Meter, Inc. Sensus Products Meters iPERL Water management system High resolution 9 digit registration 20 year life cycle and battery warranty OMNI T,C,R2 Floating ball measurement technology Fully programmable, resettable registration accuSTREAM Zero-lead composite meters Low cost composite SR2 Does it still exist ? Electronic Encoder Registers Only Technology FlexNet AMI Long-range, licensed 900Mhz RadioRead (510/520 Modules) CONFIDENTIAL | © 2013 Badger Meter, Inc.

Meters - Sensus vs. Badger iPerl Sensus states AWWA conformity No standards in place for static residential meters. Available in composite only E-Series available in both Stainless Steel and Composite Available in 5/8” – 1” sizes E-Series available 5/8” thru 2” CONFIDENTIAL | © 2013 Badger Meter, Inc.

CONFIDENTIAL | © 2013 Badger Meter, Inc. Sensus vs BADGER METER accuSTREAM zero lead constuction Badger has multiple zero lead meter lines accuSTREAM Magnetic drive LCD register Badger has both LCD and mechanical registration accuSTREAM conform to standards Badger conforms to 61 annex F and G CONFIDENTIAL | © 2013 Badger Meter, Inc.

Meters - Sensus vs. Badger OMNI Floating Ball impeller Floating rotor developed by Badger! Substituting element violates NSF Balanced Turbo – not a Compound Epoxy coated ductile iron. Badger use Lead-Free alloy. Electronic register Badger has available Electronic register with tamper detector, but mechanical still available CONFIDENTIAL | © 2013 Badger Meter, Inc.

Meters - Sensus vs. Badger SR 2 Only offered upon customer request. Register Situation Only electronic encoder? CONFIDENTIAL | © 2013 Badger Meter, Inc.

CONFIDENTIAL | © 2015 Badger Meter, Inc. FlexNet™ is the industry's only smart grid solution that broadcasts over a secure, long-range communications network. It is a wide area Advanced Metering Infrastructure (AMI) system that provides the ability to read water, gas and electric meters with a common AMI platform.  FlexNet is a proven technology capable of achieving over 99% first-time connection rates at initial deployment. CONFIDENTIAL | © 2015 Badger Meter, Inc.

Technology - Sensus Insights Strengths Long Range FlexNet Fewer infrastructure sites Electric/Gas/Water Solution Licensed 900Mhz Touch Coupler strategy to lock in customers. On Demand Weaknesses VERY expensive collectors Long term costs for tower leasing… Additional infrastructure such as “Buddy Boxes” not typically mentioned No migrateable option in the field No mobile back-up CONFIDENTIAL | © 2013 Badger Meter, Inc.

CONFIDENTIAL | © 2013 Badger Meter, Inc. Questions? Thank you CONFIDENTIAL | © 2013 Badger Meter, Inc.