Mueller Water Products (MWA) Proxy Filing summary

Executive summary

• Achieved record-setting financial results in fiscal 2025, including strong net sales growth and over 100 basis points increase in adjusted EBITDA margin, with gross margin expanding by more than 600 basis points over two years.

• Leadership transitions include the retirement of CEO Martie Edmunds Zakas and Board member Thomas Hansen at the 2026 Annual Meeting, with Paul McAndrew appointed as the new CEO and Board nominee.

• Continued focus on operational excellence, customer service, and sustainable long-term value creation for stakeholders.

Voting matters and shareholder proposals

• Stockholders will vote on electing nine directors, an advisory approval of executive compensation, and ratification of Ernst & Young LLP as the independent auditor for fiscal 2026.

• Board recommends voting FOR all director nominees, executive compensation, and auditor ratification.

Board of directors and corporate governance

• Board refreshment program has introduced eight new directors since 2019, with a focus on diversity, skills, and experience.

• Board comprises nine members, eight of whom are independent, with strong representation of women and underrepresented minorities.

• Board committees include Audit, Compensation, Governance, and Environment, Health and Safety, all led by independent directors.

• Board leadership is separated, with a Non-Executive Chair and an independent majority.