Knife River Prices Secondary Offering Of 5,142,383 Common Shares At $54/Share

Knife River announced today the pricing of the previously announced secondary public offering of 5,142,383 shares of its common stock (the "KNF Shares") currently owned by MDU Resources Group, Inc., the Company's former parent ("MDU Resources"). The KNF Shares will be offered at a public offering price of $54.00 per share. Knife River is not selling any shares of common stock and will not receive any proceeds from the sale of the KNF Shares in the Offering or from the debt-for-equity exchange (described below).