Company: MWA
Filing Date: 2025-12-19
Form Type: DEF 14A
Source: 0001350593-25-000069
Chunk: 5

Company: Mueller Water Products, Inc.
Filing Date: 2025-12-19
Form: DEF 14A
Chunk 5
---
                                                                                                                                                                                                 |     | Focused on Operational Investment and Efficiencies to Increase Long-Term Stockholder Value |     |                                                                                |     |                   |
| We generated net sales of $1,429.7 million, operating income of $260.6 million, net income of $191.7 million, adjusted earnings before interest tax depreciation and amortization (“EBITDA”) of $326.2 million, net income per diluted share of $1.22 (with adjusted net income per diluted share of $1.31) and $219.3 million net cash provided by operating activities (free cash flow of $172.0 million). Adjusted EBITDA, adjusted net income per diluted share and free cash flow are financial measures not calculated in accordance with generally accepted accounting principles in the U.S. (“GAAP”)  and are therefore considered non-GAAP measures. See Exhibit A for a reconciliation of non-GAAP to GAAP measures. |     |                                                                                            |     |                                                                                |     |                   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |     | Dividend Benefits                                                                          |     |                                                                                |     | Stockholder Value |
| •We paid stockholders a quarterly $0.067 per share dividend during fiscal 2025, an increase of approximately 4.7% from fiscal 2024.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
 •We returned $41.9 million to our stockholders through dividends in fiscal 2025.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |     |                                                                                            |     | We repurchased $15 million of our outstanding Common Stock during fiscal 2025. |     |                   |

#### PROXY STATEMENT FOR 2026 ANNUAL MEETING5

### PROXY SUMMARY

#### Stockholder Engagement
We believe that strong corporate governance should include regular engagement with our stockholders to discuss various topics, including corporate governance, compensation, performance, strategy, and other matters. With regular engagement with our stockholders, we are able to strengthen our relationships with stockholders and better understand stockholders’ views on our policies and practices and other matters of importance to our business. In 2025, management and the Board continued to reinforce our commitment to building long-term relationships with our stockholders. During the year, we utilized a variety of avenues for engagement including our Annual Meeting of Stockholders, in-person and virtual meetings, quarterly earnings calls, and other investor events and conferences.

| Fiscal 2025 engagement included:                                                                                                                                                                                                                           
 •More than ten investor events, including investor and industry conferences and road shows