MDU Resources Announces Public Offering of $200 Million of Shares of Common Stock with a Forward Component

BISMARCK, N.D., Dec. 3, 2025 /PRNewswire/ -- MDU Resources Group, Inc. (NYSE: MDU) announced today that it has commenced an underwritten public offering of $200 million of shares of its common stock. Subject to certain conditions, all shares are expected to be borrowed by the forward sellers, Wells Fargo Securities, BofA Securities, and J.P. Morgan (or their respective affiliates), from third parties and sold to the underwriters in the offering in connection with the forward sale agreements described below. In conjunction with the offering, MDU Resources intends to grant to the underwriters an option to purchase up to $30 million of additional shares of its common stock. If such option is exercised, MDU Resources may, in its sole discretion, enter into additional forward sale agreements with the forward purchasers (or their respective affiliates) with respect to such additional shares or issue and sell such shares directly to the underwriters.