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MDU Resources Group, Inc
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March 2026 Investor Presentation
| Dave Goodin | Page 28 of 11 |
April 20, 2026
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28 Regulatory Update Segment State Filing Date Annual Revenue Increase (%)* Annual Revenue Increase (in millions)* ROE Status General Rate Cases Pending Electric Wyoming June 30, 2025 18.6% $5.8M 9.7% Settlement agreement filed Jan. 23, 2026 Final rates requested to be effective Apr. 1, 2026 Electric Montana Sept. 30, 2025 20.2% $14.1M 10.8% Pending Natural Gas Distribution Oregon Nov. 25, 2025 15.8% $16.4M 10.4% Pending General Rate Cases Finalized Natural Gas Distribution Washington March 29, 2024 7.9% 2.6% $29.8M $10.8M 9.5% Approved Feb. 24, 2025 Final rates effective March 5, 2025 $3.7M revenue reduction effective June 1, 2025 Final rates effective March 1, 2026, subject to provisional plant review Natural Gas Distribution Idaho May 30, 2025 4.2% $13.0M 9.5% Approved Final rates effective Jan. 1, 2026 Natural Gas Distribution Montana July 15, 2024 8.6% $7.3M 9.6% Approved Final rates effective Nov. 1, 2025 Natural Gas Distribution Wyoming Oct. 31, 2024 11.7% $2.1M 9.65% Approved Final rates effective Aug. 1, 2025 Other Regulatory Activity Electric North Dakota Filed an updated Renewable Resource Cost Adjustment (RRCA) on Oct. 31, 2025, including recovery of Badger Wind Farm, and the North Dakota Public Service Commission approved the RRCA on Jan. 26, 2026 Electric South Dakota Filed an out-of-period update to the Infrastructure Rider on Oct. 31, 2025, reflecting inclusion of recovery for Badger Wind Farm Pending * Annual revenue increase and percent increase for general rate cases pending and general rate cases finalized, reflects the final approved amount or the amount reflected in the most recent settlement agreement, if applicable MDU | Investor Presentation | March 2026