Financial Data and Key Metrics Changes - Otter Tail Corporation achieved diluted earnings per share of $2.01, a 60% increase over Q3 2021 [8] - Consolidated revenues increased by 21% and net earnings rose by 60% compared to Q3 2021 [24] - The company experienced a historic 9.8% earnings per share CAGR, excluding the plastics companies [9] Business Segment Data and Key Metrics Changes - The Electric segment net earnings increased by $2.3 million or approximately 10.3% over Q3 2021, driven by an 18.4% increase in retail megawatt hour sales [25] - The Manufacturing segment's net earnings increased by $2 million, supported by a 17% increase in sales volumes at BTD [27] - The Plastics segment's net earnings increased by $27.6 million compared to Q3 2021, although sales volume decreased by 15% due to softening demand [29][22] Market Data and Key Metrics Changes - Demand for PVC pipe began to soften in Q3 as distributors and contractors used up high-priced inventory [21] - Rising interest rates are impacting housing starts, leading to project cancellations or delays into 2023 [36] Company Strategy and Development Direction - The company is targeting a 50% reduction in carbon emissions from owned generation resources by 2025 and 97% by 2050 [11] - Otter Tail Power is actively participating in MISO's long-range transmission planning projects, with an estimated capital investment of $330 million [15] - The company anticipates a shift in earnings mix to approximately 65% from the Electric segment and 35% from the Manufacturing platform by 2024 [40] Management's Comments on Operating Environment and Future Outlook - Management noted a slowdown in overall demand and rising interest rates affecting housing starts [36] - The company expects elevated earnings from the manufacturing platform into 2023, with a normalized earnings range for the Plastics segment projected between $36 million to $41 million [40] - The revised diluted earnings per share guidance for 2022 is now $6.42 to $6.72, down from the previous range of $6.83 to $7.13 [60] Other Important Information - The company is monitoring various economic indicators to ensure preparedness for changes in the market [37] - Corporate costs are expected to increase in 2022 due to investment losses and higher healthcare costs [37] Q&A Session Summary Question: Plastics segment guidance and demand outlook - The revised guidance for the Plastics segment reflects a midpoint of $0.48 for Q4 2022, down from $0.90 in Q4 2021, due to volumetric risks and margin compression from resin price declines [44] Answer: - Management acknowledged the fall-off in demand and resin price reductions impacting performance, with expectations of elevated earnings but lower than current levels moving into 2023 [49][50] Question: Regulated utility earnings growth - Inquiry about whether the step-up in guidance for the utility reflects a new level of earnings power due to ongoing customer demand [51] Answer: - Management confirmed that favorable pricing from a commercial customer contributed to the uplift, but caution was advised regarding the sustainability of margins [51] Question: BTD operational efficiency - Question regarding whether BTD's widening margins are sustainable due to improved operations [53] Answer: - Management indicated that improved customer take rates are leading to better efficiencies and productivity, which should support margins moving forward [55]

Q3 2022 EARNINGS CONFERENCE CALL November 1, 2022 FORWARD-LOOKING STATEMENT Except for historical information contained here, the statements in this presentation are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "could," "estimate," "expect," "goal," "intend," "may," "outlook," "plan," "possible," "potential," "projected," "should," "will," "would" and similar words and expressions are intended to i ...

Sidoti Fall 2022 Virtual Conference September 21-22, 2022 FORWARD-LOOKING STATEMENT Except for historical information contained here, the statements in this presentation are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "could," "estimate," "expect," "goal," "intend," "may," "outlook," "plan," "possible," "potential," "projected," "should," "will," "would" and similar words and expressions are inten ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2022 or ☐ Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number 0-53713 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchang ...

Q2 2022 EARNINGS CONFERENCE CALL August 2, 2022 FORWARD-LOOKING STATEMENT Except for historical information contained here, the statements in this presentation are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "could," "estimate," "expect," "goal," "intend," "may," "outlook," "plan," "possible," "potential," "projected," "should," "will," "would" and similar words and expressions are intended to ide ...

Otter Tail Corporation (NASDAQ:OTTR) Q2 2022 Earnings Conference Call August 2, 2022 11:00 AM ET Company Participants Tyler Akerman - Manager, Investor Relations Chuck MacFarlane - President and Chief Executive Officer Kevin Moug - Senior Vice President and Chief Financial Officer Conference Call Participants Tate Sullivan - Maxim Chris Ellinghaus - Siebert Williams Sophie Karp - KeyBanc Brian Russo - Sidoti and Company Timothy Winter - Gabelli Operator Good morning, and welcome to Otter Tail Corporation’s ...

Q1 2022 EARNINGS CONFERENCE CALL May 3, 2022 FORWARD-LOOKING STATEMENT Except for historical information contained here, the statements in this presentation are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "could," "estimate," "expect," "goal," "intend," "may," "outlook," "plan," "possible," "potential," "projected," "should," "will," "would" and similar words and expressions are intended to identi ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2022 or ☐ Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number 0-53713 OTTER TAIL CORPORATION (Exact name of registrant as specified in its charter) Minnesota (State or other jurisdiction of incorporation or org ...

Financial Data and Key Metrics Changes - The company achieved earnings per share of $1.72, a 136% increase compared to Q1 2021 [7] - Consolidated revenues increased by 43% and net earnings rose by 137%, primarily driven by the plastics segment [25] - The electric segment's net earnings increased by $1.6 million, or 9.4%, over Q1 2021 [31] Business Line Data and Key Metrics Changes - The electric segment's earnings were positively impacted by favorable weather and increased commercial and industrial sales [8] - The manufacturing segment's earnings decreased by $1.3 million due to lower productivity and increased costs [8] - The plastics segment's net earnings increased by $41.7 million compared to Q1 2021, driven by improved sales prices of PVC pipe [36] Market Data and Key Metrics Changes - PVC resin production and supply improved slightly, but prices are expected to increase through July due to rising natural gas prices and a strong export market [10] - Demand for PVC pipe remains strong, with limited inventories contributing to rising sales prices [36][42] Company Strategy and Development Direction - The company is focused on capital investments in generation, transmission, distribution, and technology projects to grow Otter Tail Power [11] - The Hoot Lake solar project is on schedule for completion in 2023, with construction expected to begin in May 2022 [11] - The company aims to reduce carbon emissions from its generation resources by approximately 50% from 2005 levels by 2025 [14] Management's Comments on Operating Environment and Future Outlook - Management noted inflationary pressures on freight and steel costs, but they are monitoring these issues closely [12] - The company expects market conditions to continue impacting profitability in the second half of 2022, with resin prices anticipated to decline after July [43] - The corporate costs are expected to increase in 2022 due to higher incentive compensation costs [44] Other Important Information - The company is exploring additional capacity expansions at its facilities to support organic growth opportunities [29] - The five-year financing plan includes the issuance of long-term debt to support electric segment growth, with no need for external equity [30] Q&A Session Summary Question: Can you talk about the PVC expansion you have in the works? - The first phase involves buying additional land and upgrading existing infrastructure, while the second phase will focus on production line expansion [50] Question: What are your thoughts on the equity bill from PVC profitability? - The company plans to use the equity for organic growth in both utility and manufacturing businesses [51] Question: What is your outlook for the second half of the year for plastic? - Management sees potential pressure from rising interest rates affecting housing starts, but supply chain issues are expected to improve [52][53] Question: Can you discuss the landscape of the PVC business? - The company is in the upper half of competitors in terms of capacity and is exploring organic expansion opportunities [66][72] Question: What is causing the extraordinary expansion of spreads in PVC pricing? - The increase in sales prices is driven by strong demand and supply chain challenges, particularly shortages of additives [78][80] Question: What is the expected normalized full-year earnings for plastics? - Management is reviewing long-term views on resin prices and their impact on normalized earnings for plastics [92][94]

Sidoti Spring 2022 Virtual Conference March 23-24, 2022 FORWARD-LOOKING STATEMENT Except for historical information contained here, the statements in this presentation are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "could," "estimate," "expect," "goal," "intend," "may," "outlook," "plan," "possible," "potential," "projected," "should," "will," "would" and similar words and expressions are intende ...