GRADY AND HESKIN MANAGEMENT, INC

DAVID MCGOVERN
5344 SUNNYVIEW ROAD
HERMANTOWN, MN 55811 For the period October 1, 2024 - December 31, 2024

Every effort has been made to report information accurately.

Should you notice any error, please advise your Benefits
Department within 10 days so that records can be corrected.

To access your account via the automated phone line,

AMY JENSEN call 1-800-MYKPLAN (1-800-695-7526).
1743 SAHLMAN AVE
Visit the Web at www.mykplan.com
CLOQUET, MN 55720 For transactional details, please visit the web site.

Plan Number: 252643 Location: W2T

GRADY AND HESKIN MANAGEMENT, INC 401(K) PLAN
Employee Number: 010048 Date of Hire: 05/14/2008
Vesting Start Date: 00/00/0000
Pre-Tax Deduction: 1%
Roth Deduction: 1% Contribution rates as of 01/11/2025

Your Account At A Glance As of December 31, 2024

This Year to
Period Date

Beginning Balance 17,221.13 13,957.33

Contributions 642.27 1,828.73
Dividends and Earnings 5.11 21.78
Market Value Change -422.13 1,675.21
Fees -12.86 -49.53
Total Ending Balance 17,433.52 17,433.52
Vested Balance 17,433.52

This statement includes contributions through payroll date 12/20/2024. While the market value change was
negative this period, keep in mind that you are investing for the long term. Market volatility is to be expected.

Current Asset Allocation

The 'Current Asset Allocation' illustration is how your account balance was invested as of the end of the statement period. For
Future Contribution Allocations, see Asset Allocation Details.

Account Allocation
Income As of December 31, 2024 Investment Type

$454.72 2.61% Income

$16,978.80 97.39% Growth & Income

$0.00 0.00% Growth

$0.00 0.00% Aggressive Growth

$17,433.52 Total

Growth & Income

AMY JENSEN Page 1 of 7

 For the period October 1, 2024 - December 31, 2024

Asset Allocation Details

The 'Account Allocation' column is how your current account balance is invested. The future Contribution Allocation column
shows the latest investment elections you made regarding future contributions. You should periodically compare your Account
Allocation to your Future Contribution Allocation to determine if the investment options and categories in your Account
Allocation continue to reflect your investment objectives. To help achieve long-term retirement security, you should give
careful consideration to the benefits of a well-balanced and diversified investment portfolio. Spreading your assets among
different types of investments can help you achieve a favorable rate of return, while minimizing your overall risk of losing
money. This is because market or other economic conditions that cause one category of assets, or one particular security, to
perform very well often cause another asset category, or another particular security, to perform poorly. If you invest more than
20% of your retirement savings in any one company or industry, your savings may not be properly diversified. Although
diversification is not a guarantee against loss, it is an effective strategy to help you manage investment risk. In deciding how
to invest your retirement savings, you should take into account all of your assets, including any retirement savings outside of
the Plan. No single approach is right for everyone because, among other factors, individuals have different financial goals,
different time horizons for meeting their goals, and different tolerances for risk. It is also important to periodically review your
investment portfolio, your investment objectives, and the investment options under the Plan to help ensure that your
retirement savings will meet your retirement goals. For more information on individual investing and diversification of your
account, please log on to the United States Department of Labor's website at
www.dol.gov/agencies/ebsa/laws-and-regulations/laws/pension-protection-act/investing-and-diversification

Account Allocation Future Contribution

Investments As of December 31, 2024 Allocation

Income $454.72 2.61% 0.00%

T. Rowe Price U.S. Treasury Money Fund $454.72 2.61% 0.00%
JPMorgan Core Bond Fund - R3 $0.00 0.00% 0.00%
Pioneer Bond Fund - A $0.00 0.00% 0.00%
Voya Intermediate Bond Fund - A $0.00 0.00% 0.00%
Prudential High Yield Fund - A $0.00 0.00% 0.00%
State St US Infl Prot Bd Idx NL Ser - G $0.00 0.00% 0.00%
Growth & Income $16,978.80 97.39% 100.00%
State St Tar Ret Inc Sec Lending Ser IX $0.00 0.00% 0.00%
State St Tar Ret 2020 Se Lending Ser IX $0.00 0.00% 0.00%
State St Tar Ret 2025 Sec Lending Ser IX $0.00 0.00% 0.00%
State St Tar Ret 2030 Sec Lending Ser IX $0.00 0.00% 0.00%
State St Tar Ret 2035 Sec Lending Ser IX $0.00 0.00% 0.00%
State St Tar Ret 2040 Sec Lend Ser - IX $0.00 0.00% 0.00%
State St Tar Ret 2045 Sec Lending Ser IX $0.00 0.00% 0.00%
State St Tar Ret 2050 Sec Lending Ser IX $16,978.80 97.39% 100.00%
State St Tar Ret 2055 Sec Lending Ser IX $0.00 0.00% 0.00%
State St Tar Ret 2060 Sec Lending Ser IX $0.00 0.00% 0.00%
MFS Total Return Fund - R3 $0.00 0.00% 0.00%
Growth $0.00 0.00% 0.00%
Invesco Diversified Dividend Fund - A $0.00 0.00% 0.00%
Hartford Core Equity Fund - R4 $0.00 0.00% 0.00%
JPMorgan US Equity Fund - R3 $0.00 0.00% 0.00%
State St S&P 500 Idx Sec Lending Ser IX $0.00 0.00% 0.00%
Alger Capital Appr Instit Fund - I $0.00 0.00% 0.00%
State St S&P MidCap Idx Non Lending J $0.00 0.00% 0.00%
Prudential Jennison Mid-Cap Grth Fd - A $0.00 0.00% 0.00%
Aggressive Growth $0.00 0.00% 0.00%
JPMorgan Small Cap Value Fund $0.00 0.00% 0.00%
JPMorgan US Small Company Fund - R3 $0.00 0.00% 0.00%
State St Russell Sm Cp Idx Sec Lend VIII $0.00 0.00% 0.00%
Janus Henderson Triton Fund - S $0.00 0.00% 0.00%
T. Rowe Price Intl Value Equity - Adv $0.00 0.00% 0.00%
Macquarie Intl Core Equity Fund - A $0.00 0.00% 0.00%
State St Intl Index Sec Lending Ser VIII $0.00 0.00% 0.00%
Virtus SGA Emerging Mkts Eqty Fund - A $0.00 0.00% 0.00%
DWS RREEF Real Estate Securities - A $0.00 0.00% 0.00%
State St REIT Index Non-Lending Series G $0.00 0.00% 0.00%

Total $17,433.52

AMY JENSEN Page 2 of 7

 For the period October 1, 2024 - December 31, 2024

Personal Performance
Personal Rate of Return is an approximation of the overall performance of your account. Calculations are time-weighted
performance percentages based on your portfolio activity. For detailed performance of your individual investment options, refer
to the Performance section of your Statement.
Personal Rate of Return:
Quarter: -2.44 %
1 year Return: 11.51 %
3 year Annualized Return: 2.16 %
5 year Annualized Return: 7.21 %

AMY JENSEN Page 3 of 7

 For the period October 1, 2024 - December 31, 2024
Performance

There are different risks associated with investments. All registered investment options are available by prospectus
only. Since Collective Investment Trust funds are exempt from SEC registration and are not publicly traded, a
prospectus is not available. All investments involve risk, including loss of principal, and there is no guarantee of profits.
Investors should carefully consider their objectives, risk tolerance, and time horizon before investing. There is no
assurance that any fund will meet its stated objective.

Fund Prospectuses and associated performance information can be found at www.mykplan.com in "Investment
Performance and Information" under the "Investments" menu. You can also find Benchmark information for each
investment in the Participant Fee Disclosure located in "Plan Details and Disclosures" under the "Plan Information"
menu.

Investment Summary
Performance for the investments you have selected.

T. Rowe Price State Street

U.S. Treasury Target Retirement
Money 2050 Securities
Fund - Investor Lending Series - IX Totals

Beg. Price $1.000000 $28.437000

Beg. Units/Shares 449.9500 589.7661

Beg. Balance 449.95 16,771.18 17,221.13

Contributions 0.00 642.27 642.27
Dividends and Earnings 5.11 0.00 5.11
Market Value Change 0.00 -422.13 -422.13
Transfers 0.00 0.00 0.00
Plan Administrative Fee -0.34 -12.52 -12.86
Ending Balance 454.72 16,978.80 17,433.52

Ending Price $1.000000 $27.744000

End. Units/Shares 454.7200 611.9810

Contribution Summary

Employee Employer
Activity By Employee Roth Match
Money Source Before-Tax 401k w/vesting Total

Beginning Balance 13,418.66 161.30 3,641.17 17,221.13

Contributions 160.57 160.57 321.13 642.27
Dividends and Earnings 3.40 0.00 1.71 5.11
Market Value Change -322.94 -7.34 -91.85 -422.13
Fees -9.84 -0.20 -2.82 -12.86
Ending Balance 13,249.85 314.33 3,869.34 17,433.52

Vested Balance 13,249.85 314.33 3,869.34 17,433.52

YTD Contributions 599.96 314.42 914.35 1,828.73

*…2024 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to
Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be
accurate, complete, or timely. Neither Morningstar, ADP nor their content providers are responsible for any
damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Some of the plan's administrative expenses were paid from the total annual operating expenses of one or more
of the plan's designated investment alternatives (e.g., through revenue sharing arrangements, Rule 12b-1 fees
and/or sub-transfer agent fees).

Plan administrative fees are fees for services rendered to the plan such as legal, consulting, audit, accounting
and recordkeeping services.

AMY JENSEN Page 4 of 7

 For the period October 1, 2024 - December 31, 2024

Many investment providers have established excessive trading policies. As a result, transactions in certain Plan
investment options may result in a redemption fee, and a holding period may also apply to certain investment
options offered in your Plan. In addition, your ability to conduct certain transactions in your Plan's investment
options may be limited by these excessive trading policies. You may get information about such fees and
restrictions on your Plan's Voice Response System or Participant Web site, as shown on this Statement.
Participants who are identified by an investment provider or its affiliates as engaging in excessive trading also
may be temporarily or permanently restricted from further purchases of and/or exchanges into those options
(and, in some instances, other options offered by the investment company).

AMY JENSEN Page 5 of 7

 For the period October 1, 2024 - December 31, 2024

Transaction Detail

Transaction Transaction # of Share Transaction

Date Type Shares Price Amount

T. Rowe Price 10/01/2024 Beginning Balance 449.9500 $1.000000 $449.95

U.S. Treasury 10/28/2024 Plan Administrative Fee 0.1100 $1.000000 -0.11
Money Fund 10/31/2024 Dividend 1.7600 $1.000000 1.76
11/29/2024 Dividend 1.7000 $1.000000 1.70
12/02/2024 Plan Administrative Fee 0.1100 $1.000000 -0.11
12/30/2024 Plan Administrative Fee 0.1200 $1.000000 -0.12
12/31/2024 Dividend 1.6500 $1.000000 1.65
12/31/2024 Ending Balance 454.7200 $1.000000 $454.72

State Street 10/01/2024 Beginning Balance 589.7661 $28.437000 $16,771.18

Target Ret 2050 10/01/2024 Contribution - EE BT 401K 0.9072 $28.264000 25.64
Sec Lend Ser - IX 10/01/2024 Contribution - ER MTCH 1.8143 $28.264000 51.28
10/01/2024 Contribution - EE ROTH 0.9072 $28.264000 25.64
10/16/2024 Contribution - EE BT 401K 0.8585 $28.364000 24.35
10/16/2024 Contribution - ER MTCH 1.7166 $28.364000 48.69
10/16/2024 Contribution - EE ROTH 0.8585 $28.364000 24.35
10/28/2024 Plan Administrative Fee 0.1449 $28.079000 -4.07
10/29/2024 Contribution - EE BT 401K 0.7683 $28.074000 21.57
10/29/2024 Contribution - ER MTCH 1.5367 $28.074000 43.14
10/29/2024 Contribution - EE ROTH 0.7683 $28.074000 21.57
11/13/2024 Contribution - EE BT 401K 0.8335 $28.268000 23.56
11/13/2024 Contribution - ER MTCH 1.6669 $28.268000 47.12
11/13/2024 Contribution - EE ROTH 0.8335 $28.268000 23.56
11/26/2024 Contribution - EE BT 401K 0.8137 $28.573000 23.25
11/26/2024 Contribution - ER MTCH 1.6274 $28.573000 46.50
11/26/2024 Contribution - EE ROTH 0.8137 $28.573000 23.25
12/02/2024 Plan Administrative Fee 0.1462 $28.781000 -4.21
12/10/2024 Contribution - EE BT 401K 0.7093 $28.759000 20.40
12/10/2024 Contribution - ER MTCH 1.4187 $28.759000 40.80
12/10/2024 Contribution - EE ROTH 0.7093 $28.759000 20.40
12/24/2024 Contribution - EE BT 401K 0.7742 $28.159000 21.80
12/24/2024 Contribution - ER MTCH 1.5484 $28.159000 43.60
12/24/2024 Contribution - EE ROTH 0.7742 $28.159000 21.80
12/30/2024 Plan Administrative Fee 0.1527 $27.784000 -4.24
12/31/2024 Unrealized Gain/Loss 0.0000 $0.000000 -422.13
12/31/2024 Ending Balance 611.9810 $27.744000 $16,978.80

Note: The total # of shares may be slightly off due to rounding.

AMY JENSEN Page 6 of 7

 For the period October 1, 2024 - December 31, 2024
Lifetime Income Illustrations

The estimates below are provided to show you how much monthly income you could collect at retirement if you selected
one of the annuity options below. The monthly estimates below are based on your current account balance of
$17,433.52 as of December 31, 2024, and are for illustrative purposes only; they are not a guarantee. Having this
information now may help you plan how much money to save for your retirement.

Single Life Annuity $113.74 per month

Qualified Joint and 100% Survivor Annuity $96.75 per month

Annuity definitions

A single life annuity is an arrangement that pays you a fixed amount of money each month for the rest of your life.
Following your death, no further payments would be made to your spouse or heirs.

A qualified joint and 100% survivor annuityis an arrangement that pays you and your spouse a fixed monthly payment
for the rest of your joint lives. In addition, after your death, this type of annuity would continue to provide the same fixed
monthly payments to your surviving spouse for their life.

An annuity with a lower survivor percentage may be available. Reducing the survivor percentage (below 100%) would
increase monthly payments during your lifetime but would decrease what your surviving spouse would receive after your
death.

The following information is to help you understand these estimated monthly payments

The estimated monthly payments in this statement assume your account balance is 100% vested and, if you have taken
a loan from the Plan, you are not in default and the loan has been fully repaid. Payments would begin December 31,
2024, and assume that you are 67 on this date. Monthly payments beginning at a younger age would be lower than
shown since payments would be made over more years. Monthly payments beginning at an older age would be higher
than shown since they would be made over fewer years. The estimated monthly payments in this statement are based
on an interest rate of 4.190%, which is the 10-year constant maturity U.S. Treasury securities yield rate as of
December 1, 2024, as required by federal regulations. This rate fluctuates based on market conditions. The lower the
interest rate, the smaller your monthly payment will be, and the higher the interest rate, the larger your monthly payment
will be.

The estimated monthly payments in this statement are based on how long you and a spouse, who is assumed to be
your age, are expected to live. For this purpose, federal regulations require that your life expectancy be estimated using
gender neutral mortality assumptions established by the Internal Revenue Service. The estimated monthly payments in
this statement are the same whether you are a male or a female. This is required for annuities payable from an
employer's plan. However, the same amount paid for an annuity available outside of an employer's plan may provide a
larger monthly payment for males than for females since females are expected to live longer. The estimated monthly
payments for a qualified joint and 100% survivor annuity in this statement assume that you are married with a spouse
who is the same age as you (even if you do not currently have a spouse, or if you have a spouse who is a different age).
If your spouse is younger, monthly payments would be lower than shown since they would be expected to be paid over
more years. If your spouse is older, monthly payments would be higher than shown since they would be expected to be
paid over fewer years.

The estimated monthly payments in this statement are based on prevailing market conditions and other assumptions
required under federal regulations. If you decide to purchase an annuity, the actual payments you receive will depend on
a number of factors and may vary substantially from the estimated monthly payments in this statement. For example,
your actual age at retirement, your actual account balance (reflecting future investment gains and losses, contributions,
distributions and fees), and the market conditions at the time of purchase will affect your actual payment amounts.
Unlike Social Security payments, the estimated monthly payments in this statement do not increase each year with a
cost-of-living adjustment. Therefore, as prices increase over time, the fixed monthly payments will buy fewer goods and
services.

AMY JENSEN Page 7 of 7