MDU RESOURCES GROUP INC

Montana-Dakota Utilities Co. (NASDAQ: MDU) operates as a regulated utility company providing essential energy services across a multi-state region. The company's website is www.mdu.com.

The company operates through two primary business segments: electric utility operations and natural gas utility operations. Montana-Dakota Utilities serves customers in Montana, North Dakota, and South Dakota, delivering electricity and natural gas to residential, commercial, and industrial consumers. The electric segment generates and distributes power through a diversified generation portfolio, while the natural gas segment transports and distributes natural gas to end-use customers across its service territories.

As a regulated utility, Montana-Dakota Utilities operates under the oversight of state public utilities commissions in each jurisdiction it serves, which authorize and regulate the rates the company charges customers and the indebtedness it may incur. This regulatory framework provides stable, predictable cash flows characteristic of the utility industry.

The company maintains substantial infrastructure assets including generation facilities, transmission and distribution networks, and natural gas pipelines and distribution systems serving its multi-state footprint. Montana-Dakota Utilities serves thousands of customers across its service territories, with operations spanning rural and urban areas throughout the Northern Great Plains region.

The company's business model centers on providing reliable, affordable utility services while maintaining infrastructure investments necessary to serve growing and evolving customer needs. As a regulated utility, Montana-Dakota Utilities benefits from cost-of-service rate structures that allow recovery of prudent operating expenses and capital investments, providing a foundation for long-term financial stability.

The Third Amended and Restated Credit Agreement evidenced by this document reflects the company's access to capital markets through a $200 million revolving credit facility, demonstrating its ability to secure financing for operational and capital needs. The credit facility is syndicated among multiple financial institutions, with Wells Fargo Bank serving as administrative agent, indicating the company's established relationships with major financial institutions and its standing in capital markets.