Company: MWA
Filing Date: 2025-12-19
Form Type: DEF 14A
Source: 0001350593-25-000069
Chunk: 37

Company: Mueller Water Products, Inc.
Filing Date: 2025-12-19
Form: DEF 14A
Chunk 37
---
 and performance. All financial performance goals were set with minimum (or threshold), target and maximum objectives for each goal as described in the “2025 Annual Performance Targets and Results” table below.

| 2025 ANNUAL PERFORMANCE TARGETS AND RESULTS           |     |                     |     |        |     |                                            |     |   |     |   |     |                                                          |     |                    |
|                                                       |     |                     |     |        |     |                                            |     |   |     |   |     |                                                          |     | Weighted           
 Aggregate          
 Actual % of Target 
 199.0%             |
| Metric                                                |     | Weight              
 (% of Target Bonus) |     |        |     | Results Required to Achieve Bonus          
 ($ in millions, except for percentages)(1) |     |   |     |   |     | Actual 2025 Payout Factor (% of Target Bonus) unweighted |     |                    |
|                                                       |     | Threshold           
 (50%)               |     | Target 
 (100%) |     | Maximum                                    
 (200%)                                     |     |   |     |   |     |                                                          |     |                    |
| Adjusted EBITDA                                       |     | 50.0%               |     |        |     |                                            |     |   |     |   |     | 200.0%                                                   |     |                    |
| Adjusted Net Sales                                    |     | 25.0%               |     |        |     |                                            |     |   |     |   |     | 200.0%                                                   |     |                    |
| Adjusted Working Capital as a % of Adjusted Net Sales |     | 15.0%               |     |        |     |                                            |     |   |     |   |     | 200.0%                                                   |     |                    |
| ESG                                                   |     | 10.0%               |     |        |     | —                                          |     | — |     | — |     | 190.0%                                                   |     |                    |

(1) See Exhibit A for a reconciliation of non-GAAP to GAAP measures.

#### 46MUELLER WATER PRODUCTS, INC.

### EXECUTIVE COMPENSATION

#### FISCAL 2025 ANNUAL CASH INCENTIVE AWARDS
Based on actual performance against the performance goals as set forth above, each NEO e arned 199.0% of her or his annual cash target opportunity