Company Executives

Management Team

From the proxy statement filed Apr 8, 2026

Officer	Age	In this role	Joined	2025 pay
Cindy L. Launer Also a director President and Chief Executive Officer	54	Not stated	Not stated	$712,516
Matthew J. Maki Executive Vice President, Treasurer and Chief Financial Officer	39	Since 2025 1 year	2020	$1,356,790
Douglas A. Duncan Senior Vice President and Chief Information Officer	64	Since 2025 1 year	Not stated	$442,818
Kevin Elfstrand Senior Vice President, Chief Accounting Officer and Secretary	46	Not stated	2022	$669,299

Each officer opens the passage of the filing that names them. A title that changed since the list comes from the officer's latest Form 3, 4 or 5, and its start year is not stated there. "Not stated" means the filing does not say. Pay is the proxy's Summary Compensation Table, which reports only the named executive officers.

Board of Directors

From the proxy statement filed Apr 8, 2026

Directors

serving now

Independent

4 of 6

stated in the proxy; 1 not stated

Average tenure

12.2 years

from year joined

CEO also chairs the board

Eric K. Aasmundstad

Director	Age	On board	Independent	Committees	Other public boards	2025 pay
Eric K. Aasmundstad Board chair	67	1997 29 years	Independent	Compensation Committee · Chair	None stated	$161,218
Cindy L. Launer CEO	54	2019 7 years	Not independent	None stated	None stated	$114,293
William R. Devlin	78	2003 23 years	Independent	Nominating and Corporate Governance Committee · Chair	None stated	$143,718
Prakash Mathew	77	2023 3 years	Independent	Audit Committee Investment Committee Nominating & Corporate Governance Committee	None stated	$134,218
Jeffrey R. Missling	55	2016 10 years	Not independent	None stated	None stated	$109,218
Dave Stende	66	2025 1 year	Independent	Audit Committee · Chair	None stated	Not stated
Duaine C. Espegard Leaving at the meeting	Not stated	Not stated	Not stated	Audit Committee Investment Committee · Chair	None stated	$133,718

Nominated to join at the meeting

Not on the board yet; they join only if elected.

Dana Kaldor · 50
Callie Thomas · 49

Each director opens the passage of the proxy that names them. "Not stated" means the proxy does not say; it never means "no". Pay is the proxy's Director Compensation table; the CEO is paid as an executive.

1 disclosed in the proxy filed Apr 8, 2026

North Dakota Farm Bureau

Mr. Missling serves as Executive Vice President of the North Dakota Farm Bureau.

$1,687,000

year ended December 31, 2025

Royalty agreement recognizing use of the Farm Bureau's trademark, with royalties based on premiums written on Nodak Insurance Company policies.

With Nodak Insurance Company Open in proxy

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Company Executives

Management Team

Board of Directors

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