Top 75 Public Companies Minnesota-Based Public Companies Ranked by Revenue

MINNEAPOLIS ST. PAUL BUSINESS JOURNAL APRIL 5, 2019

TOP 75 PUBLIC COMPANIES MINNESOTA-BASED PUBLIC COMPANIES RANKED BY REVENUE

Name / Rank in 2018 (* not ranked) Address Revenue Net Stock symbol: Top local Website Phone Revenue1 change2 income3 Business description change4 executive

9900 Bren Rd. E $229.48 $11.99 Diversified businesses that provide health care benefits Dave UnitedHealth Group Inc. 1 Minnetonka, MN 55343 10.5% UNH: 12.6% 1 billion billion and target health-system performance Wichmann unitedhealthgroup.com 952-936-1300 1000 Nicollet Mall Upscale discount retailer of clothing, home furnishings, $75.35 $2.94 Brian Target Corp. 2 Minneapolis, MN 55403 3.9% beauty products, groceries and other goods in stores and TGT: -2.3% 2 billion billion Cornell target.com 612-304-6073 online 7601 Penn Ave. S $42.88 $1.46 Retailer of consumer electronics, computer and mobile Best Buy Co. Inc. 3 Richfield, MN 55423 1.7% BBY: -23.4% Hubert Joly 3 billion billion phone products, entertainment software, appliances bestbuy.com 612-291-1000 3M Center $32.77 $5.35 A science-based company that provides products and Michael 3M Co. 4 Maplewood, MN 55144 3.5% MMM: -19.1% 4 billion billion solutions to customers in numerous industries Roman 3m.com 651-733-1110 710 Medtronic Pkwy. Products for cardiac and vascular diseases, surgical 5 $30.56 $4.92 Medtronic 5 Fridley, MN 55432 2.8% solutions, diabetes, neurological conditions and spinal MDT: 13.1% Omar Ishrak 5 billion billion medtronic.com 763-514-4000 procedures 800 Nicollet Mall $25.78 $7.1 Multistate bank holding company, diversified financial Andrew U.S. Bancorp 6 Minneapolis, MN 55402 8.9% USB: -15.4% 6 billion billion services Cecere usbank.com 612-303-0731 14701 Charlson Rd. C.H. Robinson Worldwide $16.63 $664.51 Third-party freight-transportation services, logistics John Eden Prairie, MN 55347 11.8% CHRW: -6.3% 7 Inc. 8 billion million solutions, produce sourcing Wiehoff chrobinson.com 952-683-2800 1 General Mills Blvd. $16.28 $2.03 Branded consumer foods; supplier of food products to the Jeff General Mills Inc. 7 Golden Valley, MN 55426 4.6% GIS: -34% 8 billion billion food-service and commercial baking industries Harmening generalmills.com 763-764-7600 1 Ecolab Pl. $14.67 $1.43 Global provider of water, hygiene and energy technologies Douglas Ecolab Inc. 10 St. Paul, MN 55102 6% ECL: 9.6% 9 billion billion and services Baker Jr. ecolab.com 800-352-5326 55 Ameriprise Financial Center $12.92 $2.1 James Ameriprise Financial Inc. 11 Minneapolis, MN 55474 6.1% Diversified financial-services firm AMP: -38.6% 10 billion billion Cracchiolo ameriprise.com 612-671-3131 414 Nicollet Mall $11.54 $1.26 Electric and natural gas utility operations serving Benjamin Xcel Energy Inc. 12 Minneapolis, MN 55401 1.2% XEL: 3.1% 11 billion billion customers in eight states Fowke III xcelenergy.com 612-330-5500 3033 Campus Dr. #E490 $10.17 $470 Production, marketing of concentrated phosphate and James “Joc” The Mosaic Co. 14 Plymouth, MN 55441 31% MOS: 9.6% 12 billion million potash crop nutrients for agriculture O’Rourke mosaicco.com 763-577-2700 1 Hormel Pl. $9.57 $950.46 Hormel Foods Corp. 13 Austin, MN 55912 3.9% A global, branded food company HRL: 17.4% Jim Snee 13 billion million hormelfoods.com 507-437-5345 2100 Hwy. 55 $6.41 $335.26 Designs, engineers and manufactures snowmobiles, ATVs, Polaris Industries Inc. 16 Medina, MN 55340 15% PII: -39.3% Scott Wine 14 billion million motorcycles, small vehicles, clothing, accessories polaris.com 763-542-0500 1031 Mendota Heights Rd. $5.54 $76.57 Distribution of dental and veterinary supplies and Mark Patterson Cos. Inc. 15 Mendota Heights, MN 55120 0.5% PDCO: -48.1% 15 billion million equipment, rehabilitation and assistive products Walchirk pattersoncompanies.com 651-686-1600 2001 Theurer Blvd. $4.97 $751.9 Wholesale and retail threaded fasteners, other industrial Daniel Fastenal Co. 18 Winona, MN 55987 13.1% FAST: -4.1% 16 billion million and construction supplies Florness fastenal.com 507-454-5374 1200 Willow Lake Blvd. $3.04 $171.21 Formulates, manufactures and markets adhesives, H.B. Fuller Co. 21 Vadnais Heights, MN 55110 31.9% FUL: -21.3% Jim Owens 17 billion million sealants and other specialty chemical products hbfuller.com 651-236-5900 5500 Wayzata Blvd. #900 $2.97 $347.4 Pentair 17 Golden Valley, MN 55416 4.2% Manufactures a range of water technologies PNR6: -18% John Stauch 18 billion million pentair.com 763-545-1730 1400 W. 94th St. $2.83 $306.2 Tod Donaldson Co. Inc. 19 Bloomington, MN 55431 9.8% Manufacturer of filtration systems and replacement parts DCI: -11.4% 19 billion million Carpenter donaldson.com 952-887-3131 8111 Lyndale Ave. S $2.67 $308.88 Commercial turf-maintenance and micro-irrigation Richard The Toro Co. 20 Bloomington, MN 55420 5.4% TTC: -14.6% 20 billion million equipment; residential yard and snow-thrower products Olson toro.com 952-888-8801 1665 Utica Ave. S #700 7 $2.21 $230.8 Electrical company that specializes in solutions to Beth nVent Electric St. Louis Park, MN — NVT: — 21 * billion million companies' power needs Wozniak nvent.com 763-204-7700 3680 Victoria St. N $2 $149.63 Provides marketing solutions and other services to small Barry Deluxe Corp. 22 Shoreview, MN 55126 1.7% DLX: -50.1% 22 billion million businesses and financial institutions McCarthy deluxe.com 651-483-7111 88 11th Ave. NE $1.65 $341.05 Equipment that pumps, meters, mixes, dispenses and Patrick Graco Inc. 24 Minneapolis, MN 55413 12.1% GGG: -7.3% 23 billion million sprays a wide variety of fluids and coatings McHale graco.com 612-623-6000 200 E. Lake St. 8 $1.61 $304.36 TCF Financial Corp. 25 Wayzata, MN 55391 9.9% National bank holding company for TCF Bank TCF: -6.1% Craig Dahl 24 billion million tcfbank.com 800-823-2265 1001 3rd Ave. S Designs, manufactures, markets and distributes $1.53 $69.54 Sleep Number Corp. 26 Minneapolis, MN 55404 6% adjustable-firmness beds and sleep-related accessory SNBR: -16.8% Shelly Ibach 25 billion million sleepnumber.com 763-551-7000 products

1 Continuing operations, from the trailing four quarters that most closely approximate the 2018 calendar year 5 Operational headquarters are in Fridley, legal headquarters are in Dublin. 2 Percentage change from trailing four quarters compared to the next most recent four quarters 6 Stock split on May 1, 2018 3 All operations, from the trailing four quarters that most closely approximate the 2018 calendar year 7 Went public in April 2018, was spinoff of Pentair 4 Calendar year 2018 performance 8 Will merge with Chemical Financial Corp. and move to Detroit.

This article appeared in the Minneapolis St. Paul Business Journal on April 5, 2019 on page 23. It has been reprinted by the Minneapolis St. Paul Business Journal and further reproduction by any other party is strictly prohibited. Copyright ©2019 Minneapolis St. Paul Business Journal, 333 South Seventh Street, Suite 350, Minneapolis MN 55402 MINNEAPOLIS ST. PAUL BUSINESS JOURNAL APRIL 5, 2019

TOP 75 PUBLIC COMPANIES MINNESOTA-BASED PUBLIC COMPANIES RANKED BY REVENUE

Name / Rank in 2018 (* not ranked) Address Revenue Net Stock symbol: Top local Website Phone Revenue1 change2 income3 Business description change4 executive

30 W. Superior St. $1.5 $174.1 Electric, gas and other energy services; real estate Allete Inc. 27 Duluth, MN 55802 5.6% ALE: 3.3% Alan Hodnik 26 billion million investment; coal mining allete.com 218-279-5000 4400 W. 78th St. #520 $1.41 $80.11 Provides glass, metal systems and installation for Joseph Apogee Enterprises Inc. 28 Bloomington, MN 55435 9.6% APOG: -34.5% 27 billion million enclosing commercial buildings and framing art Puishys apog.com 952-835-1874 7201 Metro Blvd. $1.15 $4.34 Hugh Regis Corp. 23 Edina, MN 55439 -8.8% Owning, operating and franchising of beauty salons RGS: 8.3% 28 billion million Sawyer regiscorp.com 952-947-7777 701 N. Lilac Dr. Industrial, institutional and commercial floor- $1.12 $33.41 Chris Tennant Co. 29 Golden Valley, MN 55422 12% maintenance and surface-cleaning equipment and TNC: -29.9% 29 billion million Killingstad tennantco.com 763-540-1200 technologies 215 S. Cascade St. $916.45 $82.35 Electric utility; other diversified operations in Chuck Otter Tail Corp. 32 Fergus Falls, MN 56538 7.9% OTTR: 13.3% 30 million million manufacturing and plastics MacFarlane ottertail.com 218-739-8479 14000 Technology Dr. High-performance test systems and industrial position $787.05 $38.68 Jeffrey MTS Systems Corp. 33 Eden Prairie, MN 55344 0.5% sensors for product development, simulation, analysis, MTSC: -24.9% 31 million million Graves mts.com 952-937-4000 control 800 Nicollet Mall #1000 $784.44 $57.04 International middle-market investment bank and asset- Chad Piper Jaffray Cos. 31 Minneapolis, MN 55402 -10.3% PJC: -23.3% 32 million million management firm Abraham piperjaffray.com 612-303-6000 Ceridian HCM Holdings 3311 E. Old Shakopee Rd. $746.4 -$63.4 Software company that sells human-resources 5 Bloomington, MN 55425 — CDAY: — David Ossip 33 Inc. million million applications ceridian.com* 952-853-8100 614 McKinley Pl. NE $681.71 $96.4 Development, manufacture and sale of biotechnology Charles Bio-Techne Corp. 36 Minneapolis, MN 55413 13.7% TECH: 10.1% 34 million million products and clinical diagnostic controls Kummeth bio-techne.com 612-379-8854 601 Carlson Pkwy. #990 Northern Oil and Gas Inc. $678.92 $143.69 Acquisition, exploration, development and production of Brandon Minnetonka, MN 55305 224.3% NOG: -11% 35 44 million million oil and natural gas properties Elliott northernoil.com 952-476-9800 7665 Commerce Way $663.24 -$10.96 3-D printers and production systems for office-based Elchanan Stratasys Ltd. 34 Eden Prairie, MN 55344 -0.8% SSYS: -13.2% 36 million million rapid prototyping and direct digital manufacturing Jaglom6 stratasys.com 952-937-3000 6740 Shady Oak Rd. $631.73 -$2.77 Digital commerce company that sells products to Bob Evine Live Inc. 35 Eden Prairie, MN 55344 -2.2% EVLV: -71.8% 37 million million consumers through TV, online, mobile and social media Rosenblatt shophq.com 952-943-6000 2381 Rosegate $550.27 -$16.7 Distributes bulk chemicals and blends, manufactures and Patrick Hawkins Inc. 37 Roseville, MN 55113 11% HWKN: 14.7% 38 million million distributes specialty chemicals Hawkins hawkinsinc.com 612-331-6910 5540 Pioneer Creek Dr. $445.6 $76.59 Online and technology-enabled quick-turn manufacturer Victoria Proto Labs Inc. 41 Maple Plain, MN 55359 29.3% PRLB: 8.6% 39 million million of custom parts for prototyping and short-run production Holt protolabs.com 763-479-3680 14000 Carlson Pkwy. $357.25 $10.44 Retailer of manufactured and natural stone tiles, setting Cabell Tile Shop Holdings Inc. 40 Plymouth, MN 55441 3.7% TTS: -44.1% 40 million million and maintenance materials Lolmaugh tileshop.com 888-398-6595 2400 Xenium Ln. N Christopher & Banks Corp. $356.87 -$30.39 Plymouth, MN 55441 -0.5% Retailing of women's apparel and accessories CBK: -63.8% Keri Jones 41 39 million million christopherandbanks.com 763-551-5000 333 S. 7th St. #1000 Cloud-based supply chain management solutions: $248.24 $23.87 SPS Commerce Inc. 42 Minneapolis, MN 55402 12.8% integration, collaboration, connectivity, visibility, data SPSC: 69.1% Archie Black 42 million million spscommerce.com 612-435-9400 analytics 9350 Excelsior Blvd. #700 Networking hardware products and solutions that enable $245.48 $10.55 Ronald Digi International Inc. 46 Hopkins, MN 55343 35.3% the electronic connection, monitoring and control of DGII: 1.9% 43 million million Konezny digi.com 952-912-3444 physical assets 1225 Old Hwy. 8 NW Cardiovascular Systems $231.21 $1.71 Development and sale of minimally invasive treatment St. Paul, MN 55112 11.5% CSII: 17.5% Scott Ward 44 Inc. 45 million million solutions for vascular disease csi360.com 651-259-1600 15045 Hwy. 23 SE $210.31 $2.86 Produces fuel-grade ethanol, Steve Granite Falls Energy 43 Granite Falls, MN 56241 -2.5% GFGY: 3.2% 45 million million distillers' grains and crude corn oil Christensen granitefallsenergy.com 320-564-3100 210 Main St. W ANI Pharmaceuticals Inc. $201.58 $15.49 Develops, manufactures and markets branded and generic Arthur Baudette, MN 56623 14% ANIP: -34.5% 46 47 million million prescription pharmaceuticals Przybyl anipharmaceuticals.com 218-634-3500 1331 Tyler St. NE Tactile Systems $143.75 $6.62 Develops therapeutic medical technologies to treat Gerald Minneapolis, MN 55413 31.5% TCMD: 54% 47 Technology Inc. 51 million million chronic medical conditions Mattys tactilemedical.com 612-355-5100 3600 American Blvd. W #400 Granite City Food & $134.16 -$8.16 Chain of upscale casual restaurants with on-premises Richard Bloomington, MN 55416 -6.5% GCFB: 14.7% 48 Brewery Ltd. 48 million million breweries Lynch gcfb.net 952-215-0665 840 Lily Ln. $124.96 Andrew ASV Holdings Inc. 49 Grand Rapids, MN 55744 5% -$184,000 Maker of construction equipment ASV : -79.9% 49 million Rooke asvi.com 218-327-3434 1260 Red Fox Rd. Designs, develops and manufactures body-worn bio- $116.46 $5.55 IntriCon Corp. 53 Arden Hills, MN 55112 27.9% telemetry devices, hearing instruments and professional IIN: 31.6% Mark Gorder 50 million million intricon.com 651-636-9770 audio communications devices

1 Continuing operations, from the trailing four quarters that most closely approximate the 2018 calendar year 4 Calendar year 2018 performance 2 Percentage change from trailing four quarters compared to the next most recent four quarters 5 Completed its initial IPO in April 2018 3 All operations, from the trailing four quarters that most closely approximate the 2018 calendar year 6 Interim

TOP 75 PUBLIC COMPANIES MINNESOTA-BASED PUBLIC COMPANIES RANKED BY REVENUE

Name / Rank in 2018 (* not ranked) Address Revenue Net Stock symbol: Top local Website Phone Revenue1 change2 income3 Business description change4 executive

7550 Meridian Cir. N #150 $110.12 -$2.1 Contract manufacturing of medical devices, wire and cable Nortech Systems Inc. 50 Maple Grove, MN 55369 -4.9% NSYS: -9.4% Jay Miller 51 million million assemblies, printed circuit board assemblies nortechsys.com 952-345-2244 Bridgewater Bancshares 3800 American Blvd. W #100 $87.77 $26.92 5 Bloomington, MN 55431 NA Holding company for Bridgewater Bank BWB: NA Jerry Baack 52 Inc. million million bridgewaterbankmn.* com 952-893-6868 9924 W. 74th St. $86.56 -$1.59 Surface-modification and in vitro diagnostic technologies Gary Surmodics Inc. 57 Eden Prairie, MN 55344 19.6% SRDX: 66.7% 53 million million for the health care industry Maharaj surmodics.com 952-500-7000

175 Jackson Ave. N #102 Appliance Recycling $83.86 Hopkins, MN 55343 19.3% $777,000 Recycling and retail sales of major household appliances ARCI: -59.6% Tony Isaac 54 Centers of America Inc. 52 million arcainc.com 952-930-9000 7050 Winnetka Ave. N #100 $80.87 $4.34 End-to-end fiber management and enclosure platform for Cheryl Clearfield Inc. 56 Brooklyn Park, MN 55428 11.5% CLFD: -17.7% 55 million million the telecommunications industry Beranek clearfieldconnection.com 763-476-6866

220 S. 6th S #1200 $73.19 -$30.59 Purchase of life insurance policies sold in the secondary GWG Holdings Inc. 59 Minneapolis, MN 55402 15.6% GWGH: 4.3% Jon Sabes 56 million million marketplace (life settlements) gwglife.com 612-746-1944

605 Hwy. 169 N #400 $72.51 $30.13 Franchisor of retail-store concepts that buy, sell, trade and Winmark Corp. 58 Plymouth, MN 55441 3.9% WINA: 20.2% Brett Heffes 57 million million consign merchandise winmarkcorporation.com 763-520-8500

10900 Red Cir. Dr. Communications Systems $65.76 -$6.79 Minnetonka, MN 55343 -20.1% Telecommunications equipment and IT solutions JCS: -44.1% Roger Lacey 58 Inc. 54 million million commsystems.com 952-996-1674 5900 Golden Hills Dr. $64.72 $2.83 High-precision, proprietary 3-D sensors for the electronics Subodh CyberOptics Corp. 62 Golden Valley, MN 55416 21.4% CYBE: 10.5% 59 million million and general metrology markets Kulkarni cyberoptics.com 763-542-5000

1100 Canterbury Rd. Canterbury Park Holding $59.1 $5.26 Pari-mutuel wagering and horse racing; unbanked card Randall Shakopee, MN 55379 4.6% CPHC: -13.1% 60 Corp. 60 million million games Sampson canterburypark.com 952-445-7223 27 N. Minnesota St. Nuvera Communications $56.68 $7.76 6 New Ulm, MN 56073 20.9% Operation of local-exchange telephone companies NULM: 3.2% Bill Otis 61 Inc. 63 million million newulmtel.net 507-354-4111 12701 Whitewater Dr. #200 Famous Dave’s of America $54.89 $4.86 Jeffery Minnetonka, MN 55343 -22.5% American roadhouse-style barbecue restaurants DAVE: -27.8% 62 Inc. 55 million million Crivello famousdaves.com 952-294-1300 4201 Woodland Rd. Northern Technologies $53.98 $7.11 Corrosion-inhibiting products; biodegradable polymer Patrick Circle Pines, MN 55014 30.3% NTIC: 25% 63 International Corp. 64 million million resin compounds and finished products Lynch ntic.com 763-225-6600 Inspire Medical Systems 9700 63rd Ave. N #200 $50.59 -$21.83 7 Maple Grove, MN 55369 NA Neurostimulation technology for obstructive sleep apnea INSP: NA Tim Herbert 64 Inc. million million inspiresleep.* com 844-672-4357 1016 Civic Center Dr. NW $38.1 $8.24 Stock savings bank holding company for Home Federal Bradley HMN Financial Inc. 66 Rochester, MN 55901 7.8% HMNF: 3% 65 million million Savings Bank Krehbiel hmnf.com 507-535-1200

8799 Brooklyn Blvd. $33.24 $1.4 In-store advertising products, programs and services to Kristine Insignia Systems Inc. 72 Brooklyn Park, MN 55445 25.8% ISIG: 25.2% 66 million million retailers and consumer packaged goods manufacturers Glancy insigniasystems.com 763-392-6200

500 6th Ave. NW $30.62 $1.96 Products that provide airway-clearance therapy to Kathleen Electromed Inc. 71 New Prague, MN 56071 12.5% ELMD: -16% 67 million million patients with compromised pulmonary function Skarvan smartvest.com 952-758-9299

11409 Valley View Rd. $28.78 $15.53 NVE Corp. 68 Eden Prairie, MN 55344 -0.1% Spintronic sensors and couplers for automated factories NVEC: -0.3% Daniel Baker 68 million million nve.com 952-829-9217

510 N. 1st Ave. #305 $25.01 -$3.62 Provides tools to create, manage, secure, deliver and Qumu 69 Minneapolis, MN 55403 -11.2% QUMU: -17.4% Vern Hanzlik 69 million million measure videos for business qumu.com 612-638-9100

4832 Grand Ave. $18.21 Photosensitive liquids and films for screen printing, William Ikonics Corp. 73 Duluth, MN 55807 5.6% $139,465 IKNX: 8.7% 70 million awards, industrial markets Ulland ikonics.com 218-628-2217

1600 University Ave. W #500 Image Sensing Systems $15.29 $2.03 Video and radar processing products for use in traffic, Chad St. Paul, MN 55104 17.4% ISNS: 50% 71 Inc. 74 million million security, police and parking applications Stelzig imagesensing.com 651-603-7700 6111 Blue Cir. Dr. Monitoring systems that measure actual machine $7.48 Electro-Sensors Inc. 75 Minnetonka, MN 55343 -2.4% -$54,000 production and operation rates; systems that regulate the ELSE: -15.6% David Klenk 72 million electro-sensors.com 952-930-0100 speed of related machines in production processes

12988 Valley View Rd. $5 -$17.03 CHF Solutions Inc. Eden Prairie, MN 55344 40.7% Medical device manufacturer CHFS: -86.2% John Erb 73 * million million chf-solutions.com 763-463-4600

319 Barry Ave. S #300 $4.23 -$21.09 A software-as-a-service company that specializes in James OrangeHook Inc. Wayzata, MN 55391 440.6% ORHK: -86.4% 74 * million million patient-identification applications Mandel orangehook.com 442-500-4665

2800 Mount Rd. -$27.9 A gene-editing company focused on the development of Catalyst Inc. Roseville, MN 55113 $236,000 -53.5% CLXT: -55.8% Jim Blome 75 * million immuno-oncology therapeutics calyxt.com 651-683-2807

1 Continuing operations, from the trailing four quarters that most closely approximate the 2018 calendar year 5 Completed its IPO March 14, 2018 2 Percentage change from trailing four quarters compared to the next most recent four quarters 6 Formerly New Ulm Telecom Inc. 3 All operations, from the trailing four quarters that most closely approximate the 2018 calendar year 7 Went public in May 2018 4 Calendar year 2018 performance