Strategies for Sustainable Growth and Resilience
Experienced Board and Strong Governance Practices
Board and governance practices establish a framework to ensure the effective oversight of strategic
objectives following Knife River's separation from MDU Resources
Board and Governance Practices
Highly qualified directors with deep institutional, industry, and market knowledge
Diverse Board, including by gender and race/ethnicity (together, 50%), as well as by geography
Separate Chair and CEO
Fully independent Board, excluding our CEO
Majority vote standard for directors in uncontested elections
ā Structure in place to fully declassify the Board at the 2027 annual meeting
Standard proxy access provision
ā Planned extensive and proactive shareholder engagement program to facilitate year-round dialogue
KNIFE RIVER
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