Knife River Corp — Director's Dealing 2025

May 27, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Knife River Corp (KNF)
CIK: 0001955520
Period of Report: 2025-05-22

Reporting Person: Fagg Karen B (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-05-22	Common Stock	A	1810.0000	$0.0000	Acquired	30937.0000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Phantom Stock	$		Common Stock (839.9830)	839.9830	Direct

Footnotes

F1: Represents restricted stock units (RSUs) that vest on the day immediately prior to the date of the next Knife River Corporation (the "issuer") annual meeting of stockholders occurring after the date of grant and subject to the reporting person continuing in service on the board of directors of the issuer through such vesting date. Each RSU represents the contingent right to receive one share of the issuer's common stock.

F2: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.