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BRIDGEWATER BANCSHARES, INC. PROXY STATEMENT ANNUAL MEETING OF SHAREHOLDERS APRIL 27, 2021

These proxy materials are furnished in connection with the solicitation by the Board of Directors (the “Board”) of Bridgewater Bancshares, Inc. (the “Company”) of proxies to be used at the 2021 annual meeting of shareholders of the Company, to be held virtually on Tuesday, April 27, 2021, at 1:00 p.m., Central Time, and at any adjournments or postponements of such meeting. There will not be a physical meeting at the Company’s principal executive offices. You will be able to attend the meeting online, vote your shares electronically, and submit your questions during the meeting by visiting: www.virtualshareholdermeeting.com/BWB2021. A complete list of the shareholders entitled to vote at the 2021 annual meeting of shareholders is kept on file at the Company’s principal executive offices, located at 4450 Excelsior Blvd., Suite 100, St. Louis Park, Minnesota 55416. The Company is a Minnesota corporation and a registered financial holding company, which owns all of the issued and outstanding capital stock of Bridgewater Bank, a Minnesota state-chartered bank (the “Bank”).

Important Notice Regarding the Availability of Proxy Materials for the Shareholder Meeting to be Held on April 27, 2021: Our proxy statement and 2020 annual report on Form 10-K are available online at https://materials.proxyvote.com/108621.

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Bridgewater Bancshares, Inc.

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