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MDU Resources Announces Board Leadership Transition with New Chair of the Board

1. MDU elects Darrel T. Anderson as new independent board chair. 2. Anderson succeeds Dennis W. Johnson, who remains on the board. 3. The transition reflects structured governance and continuity in leadership. 4. Anderson has extensive experience in regulated energy businesses. 5. MDU focuses on strong governance and strategic priorities moving forward.

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FAQ

Why Bullish?

The leadership change to an experienced chair can enhance strategic execution, similar to past successful transitions in energy firms.

How important is it?

A leadership change at MDU's helm indicates potential for positive future performance, as board dynamics significantly influence corporate strategy.

Why Long Term?

Strategic leadership changes often take time to show a measurable impact on stock performance, with long-term governance stability usually leading to sustainable growth.

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, /PRNewswire/ -- MDU Resources Group, Inc. (NYSE: MDU) today announced that its board of directors has elected Darrel T. Anderson as its new independent chair of the board, succeeding Dennis W. Johnson, effective immediately. Johnson will remain on the board as a director and will continue to serve as chair of the Nominating and Governance Committee. "This transition is a testament to our board's disciplined approach to board leadership succession. Darrel's election as chair follows a deliberate process that ensures continuity and strong governance. He is well prepared and very qualified to lead the board," said Johnson. Nicole Kivisto, president and CEO of MDU Resources, added, "We are grateful for Dennis' leadership, particularly through the company's transformation to a pure-play regulated energy delivery business, and we deeply appreciate his continued service on the board. We congratulate Darrel and look forward to his leadership in this next chapter." Leadership refreshment and succession planning are key focuses for the board. Anderson's election to board chair reflects a structured governance approach that emphasizes continuity and leadership development. Anderson joined the board in 2023, and previously served as board vice chair and chair of the Compensation and Human Capital Committee. His steady progression within the board demonstrates MDU Resources' commitment to thoughtful succession planning and best-in-class governance. Anderson brings decades of industry experience, including his tenure as president and CEO of IDACORP, Inc. and Idaho Power Company. His deep understanding of regulated energy businesses and corporate governance will be valuable to the board as MDU Resources continues executing its strategic priorities. About MDU Resources Group, Inc. MDU Resources Group Inc., a member of the S&P SmallCap 600 index, delivers safe, reliable, affordable and environmentally responsible electric and natural gas distribution services to more than 1.2 million customers across the Pacific Northwest and Midwest. In addition to its utility operations, the company's pipeline business operates a more than 3,800-mile natural gas pipeline network and storage system, ensuring reliable energy delivery across the Northern Plains. With a legacy spanning over a century, MDU Resources remains focused on energizing lives for a better tomorrow. For more information about MDU Resources, visit www.mdu.com or contact the investor relations department at [email protected]. Investor Contact: Brent Miller, treasurer, 701-530-1730Media Contact: Byron Pfordte, director of integrated communications, 208-377-6050 SOURCE MDU Resources Group, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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