Otter Tail Corp (OTTR) April 13, 2026 Annual General Meeting Transcript

Good morning, everyone. My name is Beth Eichen, and I'm Otter Tail Corporation's Manager of Investor Relations. As Nathan said, we are now going to transition to the Q&A portion of today's meeting, and we do have a couple of questions in the queue. So starting with the first one, the question is, do you ever think about separating the corporation into two pieces, a manufacturing one and a utility one?

Well, good morning. This is Chuck McFarlane. Thanks for the question. We do review our portfolio of companies with assistance from an independent third party. We do this each year as part of our strategic planning process. This process includes reviewing each company and their fit within our organization, and if they're meeting the financial targets we have established. We also review potential acquisition and divestiture options. At this point, we have concluded that our current diversified business model serves us and our shareholders. It provides a predictable and steady earnings growth from our utility with the opportunity to generate excess returns and solid cash generation from our non-utilities.

Moving to the second question that we have in the queue, the question is, do you ever change auditors? Do you bid the cost of the job?

Good morning. This is Todd Wallen, CFO, and thanks for the questions. As far as do we ever change auditors, we have not changed auditors in recent history. That would be a significant high-impact decision. We do look for industry knowledge, service quality, audit efficiency. Audit firms do have to rotate the lead auditor. of the job. We do benchmark. You're not bad.

And with the end of that question, I guess, or the response to that question, we don't have any other questions in the queue, so I'll go ahead and transition the call to Nathan for his closing remarks.

Okay. Thank you, Beth. I appreciate it. Seeing there's no other questions in the queue, our 2026 annual shareholder meeting is now concluded. I want to thank you again for attending. I appreciate your continued...

Thank you for joining us today. The meeting is now concluded. Have a good day.