DRAFT OPEI Board Book 0625

Equip Exposition is the annual event dedicated to growing landscapers’, hardscapers’, manufacturers’, and dealers’ businesses.

BOARD OF DIRECTORS MEETING June 26, 2025 | Stein Eriksen Lodge | Park City, Utah

No. 1: Best Riverwalk – 2025 Since 1986, Louisville’s frontage along the Ohio River has undergone quite the renaissance with the development of 85-acre Waterfront Park, an expanse of picnic areas, walking paths, and sprawling green spaces. Visitors to the riverwalk enjoy spots to chill out, playgrounds, boat launches, and numerous public art installations.

Outdoor Power Equipment Institute | Board of Directors Meeting 12-5 p.m. | June 26, 2025 | Stein Eriksen Lodge Agenda

LUNCH

12:00-12:30

Tab

A. Call to Order

12:30-12:40

D. Thorne

1. Review of Anti-Trust Guidelines 2. Approval of March 2025 Minutes

3. Approval of Proposed 2025-26 Board and Officers 4. Approval of Proposed Committee Chair and Vice Chair

B. Financial Reports

12:40-12:50

1. Approval of April 2025 Statements

S. Shomers

a. OPEI b. Equip Exposition

C. U.S. Consumer Product Safety Commission

12:50-1:20

G. Knott D. Mustico

1. Consumer Riding Mowers 2. Human Factors Research

E. Jones (Mayer Brown)

D. Trade and Tariff

1:20-1:45

D. Mustico R. DeFrancesco (Wiley)

E. Emissions Developments

1:45-2:00

G. Knott

F. Equip Exposition

2:00-2:20

K. Kiser

1. Sales and Sponsorships

C. Meecha

2. Programming

G. TurfMutt Foundation

2:20-2:40

K. Kiser

H. FY 2026 Budget Approval

2:40-3:00

K. Kiser

BREAK

3:00-3:15

I. OPEI Canada

3:15-3:40

K. Kiser B. Martin S. Shomers

3. Approval of Board and Officers 4. Approval of June 26, 2024, Minutes 5. Approval of 2024 Audited Statements 6. OPEIC Current Financials 7. Program Updates

J. Battery Developments

3:40-4:00

B. Martin

K. Market Forecasting

4:00-4:20

D. Mustico

L. Right to Repair

4:20-4:40

D. Mustico

M. Upcoming Meetings

4:40-4:55

K. Kiser

1. OPEI Board Meeting, Louisville, KY 2. Equip Exposition, Louisville, KY

N. Passing of the Gavel

4:55-5:00

K. Kiser

ADJOURNMENT

5:00

Additional Information Provided Summary of committee and policy activity

10 11 12

Summary of standards activity Selected clips and media samples

Upcoming Meetings June 24- 26, 2025 – OPEI Annual Mtg – Park City, UT June 26, 2025 – OPEI Summer Board of Directors Meeting – Park City, UT July 21-22, 2025 – Consumer Riding Mower Working Group – OPEI Office, Alexandria, VA September 24, 2025 – MSC Committee Meetings – OPEI Office, Alexandria, VA September 25, 2025 – MSC FORUM Meeting – OPEI Office, Alexandria, VA September 30, 2025 – Battery/Electric Committee Meeting – OPEI Office, Alexandria, VA September 30, 2025 – Engines & Fuels Committee Meeting – OPEI Office, Alexandria, VA October 1, 2025 – Legal & Regulatory Committee Meeting – OPEI Office – Alexandria, VA October 21, 2025 – OPEI Fall Board of Directors Meeting – Louisville, KY October 21-24, 2025 – Equip Expo Show – Louisville, KY

ANTITRUST POLICY STATEMENT The Outdoor Power Equipment Institute (“OPEI”) is a national, nonprofit institute, organized to serve and advance the outdoor power equipment industry. Its purpose is to provide, through its technical and marketing committees and other activities, a common and open forum where manufacturers, suppliers, engineers, academics, and others can become informed of current developments in the outdoor power equipment industry and otherwise advance the industry’s contribution to the general public. OPEI is not intended to, and may not, play any role in the competitive decisions of its members, nor in any way restrict competition among participants in the outdoor power equipment industry. Antitrust compliance is the responsibility of every OPEI member. It is the special responsibility of committee chairmen, OPEI officers, and OPEI staff to assure that this policy is known and adhered to in the course of activities pursued under their leadership. To assist the OPEI staff and all of its officers, directors, and committee chairmen in recognizing situations which may raise the appearance of an antitrust problem, the Board will, as a matter of policy, furnish to each such person this Antitrust Policy Statement. Should questions arise as to the manner in which the antitrust laws may apply to the activities of OPEI or any committee or chapter thereof, such questions shall be directed to OPEI’s executive leadership or its counsel, as appropriate. Any knowing violation of the OPEI general rules of antitrust compliance or with this general policy by an OPEI member may result in that member’s immediate suspension from the membership, and immediate removal from any office held. General Rules of Antitrust Compliance The following rules are applicable to all OPEI activities and must be observed in all situations and under all circumstances without exception or qualification: 1. Each meeting of the Board must be conducted according to OPEI’s bylaws and pursuant to notice and written agenda. 2. The notice of the meeting and written agenda must be sent in advance of the meeting to every person who will attend. 3. The notice and written agenda must be specific enough to alert OPEI members and OPEI staff to matters that may raise legal questions for which the advice of counsel may be sought prior to the meeting. 4. All meetings must be conducted strictly in accordance with the written agenda. The Chairman and each member have the responsibility to prevent discussion of subjects of doubtful integrity or legality. 5. Minutes must be kept of all meetings, and must accurately report the proceedings and actions that were taken at the meeting. 6. All meetings should be conducted in such a manner that OPEI members are afforded a fair and reasonable opportunity to present their views.

7. Neither OPEI, nor any committee or activity of OPEI, shall be used for the purpose of bringing about, or attempting to bring about, any understanding or agreement, written or oral, formal or informal, express or implied, among competitors with regard to prices, terms, or conditions of sale, distribution, volume of production, territories, or customers. 8. No OPEI activity or communication shall include discussion for any purpose or in any fashion of pricing methods, production quotas, or other limitations on the timing, costs, volume, production, terms of sale, or allocation of territories or customers. 9. No OPEI activity or communication shall include any discussion which might be construed as an attempt to prevent any person or business entity from gaining access to any market or customer for goods or services, or to prevent any business entity from obtaining a supply of goods, or otherwise purchasing goods or services freely in the market. 10. All decisions and recommendations of OPEI and its committees which involve standardization of engineering practices or material configuration or composition shall be based upon engineering and scientific evaluation consistently applied. No such decision or recommendation shall be based upon consideration of market advantage to any participant or group of participants in the industry. 11. No OPEI activity or communication shall include any discussion which might be construed as an agreement or an understanding to refrain from purchasing any raw materials, equipment, services, or other supplies from any supplier. 12. In informal discussions at the site of an OPEI meeting, but beyond the control of its Chairman, all OPEI members are expected to observe the same standards of personal conduct as are required of OPEI in its compliance with these antitrust guidelines. 13. If included in the agenda for an OPEI meeting, the following general subjects are among those permitted for discussion under these guidelines: (a) general industry or economic trends; (b) advances or problems in relevant technology or research; (c) more effective methods of purchasing, manufacturing, or marketing; (d) management education/training; (e) industry relations with local, state, and federal governments; (f) experiences and developments in employment relations; (g) legal issues facing the industry and OPEI members. 14. Specific statistical information gathering and reporting should be cleared with OPEI’s counsel before being placed on any agenda. 15. OPEI’s policy requires the attendance of a staff member from OPEI at all official business meetings. May 2017

1152898:LOUISVILLE

OUTDOOR POWER EQUIPMENT INSTITUTE BOARD OF DIRECTORS MEETING OPEI Headquarters, Alexandria, VA

March 12, 2025 DRAFT Minutes

Present: Board Members: David Thorne, Chair Rick Olson, Vice Chair

Deere & Company The Toro Company Ariens Company Chervon N.A. Milwaukee Tool Active Dynamics

Dan Ariens, Equip Expo Chair Mike Clancy, Immediate Past Chair

Rick Gray

Peter Hampton Brian Melka Andres Rangert Harold Redman Nelson Wilner Called In Klaus Hahn Doug Redpath Tom Rugg

Rehlko

Husqvarna Forest & Garden Div. N.A.

Echo Incorporated

Kawasaki Motors Corp. USA

Greenworks

Stanley, Black, & Decker Inc. Briggs & Stratton LLC

Absent: Chris Keffer, Secretary/Treasurer

STIHL, Inc.

OPEI /Equip Exposition Staff: Kris Kiser, President & CEO Chuck Bowen, Vice President of Communications & Member Relations Greg Knott, Sr. Vice President, Standards & Regulatory Affairs Brandon Martin, Vice President, Battery & Electric Products, Industry Affairs Dan Mustico, Sr. Vice President, Government & Market Affairs Suzanne Shomers, Vice President, Finance and Administration Karen Williams, Partnerships and Development Director Guests:

Rick Vance, Stites & Harbison Robert DeFrancesco, Wiley Law Britney Fleming, Van Ness Felman Dick Penna, Van Ness Felman Charlene Koski, Van Ness Felman Erika Jones, Mayer Brown

Call to Order Mr. Thorne, the Chair, called the Board meeting to order at 8:00 a.m. ET. Antitrust Policy Mr. Vance referred the members of the Board to the Antitrust Meeting Guidelines in the Board Book. Mr. Vance stated that he would be available for questions throughout the day. Approval of Meeting Minutes Mr. Thorne referred to the minutes of the last meeting held on October 15, 2024. Motion was made by Mr. Olson to approve the minutes, seconded by Mr. Clancy. The Motion passed by acclamation. Approval of Committee Appointments • B175.7 Pole Pruner Standards Committee-Teresa Brusadin (STIHL)-Chair Motion was made by Mr. Wilner to approve the committee appointments as stated, seconded by Mr. Gray. The Motion passed by acclamation. 2024 Audited Financial Statements Ms. Shomers presented the Consolidated Audited Financial Statements for the period ending August 31, 2024. The result for the year was an Unqualified or clean opinion with a contribution to reserves of $1,558, 555 for a year-to-date balance of $11,328,084 in Net Assets. The letter of required communication was given and a new standard to elevate within the audit process to formalize the risk of information technology. As part of the new standard, the auditors are encouraging all their clients to formalize their IT risk assessment process with correlating information security policies and procedures. It was motioned by Mr. Ariens to engage a consultant to perform an IT /Cyber risk assessment for up to $150,000 and Mr. Melka seconded. The Motion passed by acclamation. There was discussion to relook at the accumulated reserves objectives or contingency funds at the June meeting. To approve the Consolidated Audited Financial Statements for the period ending August 31, 2024, it was motioned by Mr. Gray, seconded by Mr. Wilner. The Motion passed by acclamation. Financial Report Ms. Shomers provided the financial statements for the period ending January 31, 2025 and highlighted the large expenditure areas with CPSC Lawnmower safety projected to be under budget and the Board approved up to from $250,000 to $400,000 on a December call to support the EPA CARB SORE Waiver Challenge, however, at this time the estimated cost would be around $150,000. The agencies are unpredictable with government activity. At the October Board meeting an additional $350,000 was approved for TurfMutt to support Hearst proposal for highlighting women in the industry. Overall, projections at this time are to net about $417,000 after interest earnings and dividends. The sweep account is earning about 4%. Mr. Ariens motioned to approve the statements and Mr. Olson, seconded. The Motion passed by acclamation.

2025 Trade Show- Equip Exposition Update Ms. Shomers gave a preliminary budget for the 2025 Equip Show. Mr. Kiser reported that they anticipate being sold out again for booth space. Then highlighted the new features for the 2025 show with Jessie Cole as the opening keynote, Block Party with the Crashers on 4 th Street, return of tree care education in Freedom Hall, Thursday concert with Big&Rich and Gretchen Wilson at the Kentucky International Convention Center, and a Creator Space. Ms. Williams gave an update on the sponsorship sales where they sold $482,500 and project $642,000 for the 2025 show. We continue to collect data from a variety of areas, especially tracking the response to advertising placements and influencer activity to increase attendance. Mr. Kiser shared the latest renderings and plans of phase one of the expansion to the KEC. It will open up 300,000 sq and HNA will be in a new location. Mr. Kiser reported that he had been appointed to the board of advisors of Kentucky Venues, which operates the KICC and the Exposition Center. In addition, Mr. Kiser highlighted how the investment in Louisville has elevated TurfMutt and the Show. The Equip Exposition earned the cover story in the Trade Show Executive magazine. Mr. Kiser and Equip Exposition will be awarded the inaugural Louisville Tourism Impact Award at the Kentucky Derby Festival. The Turf Mutt Lawn continues to receive recognition with podcasters and social media influencers as well as a candidate for the best Waterfront Park. Hearst will be filming three Mission Unstoppable episodes to feature Equip and the great lawn. Mr. Kiser was appointed by the Louisville Mayor to the Waterfront Development Corporation Board of Directors. Trade and Tariff Matters Mr. Mustico introduced Mr. Robert DeFrancesco, a partner in the DC office of Wiley Rein, who gave an update on the significant trade actions, and their purported legal basis, of the new administration. Most notable is the broad intent to replace the Most Favored Nation (MFN) framework with a more transactional and reciprocal approach which prioritizes “America First”/”Made in America” objectives through bilateral agreements. This trade policy is aimed at questioning and moving away from the WTO and rules-based order begun with the Bretton Woods Agreement of 1944. The most significant existing agreement under scrutiny is the U.S.-Mexico- Canada Agreement (“USMCA”), which under the agreement’s terms is up for reevaluation in 2026. OPEI expects to have Mr. DeFrancesco meet again with the board in June as these developments are highly fluid and uncertain. EPA Battery Guidance and EPR Policy Mr. Martin gave an update on the growth of battery extended producer responsibility legislation that is being developed. With the industry's continued growth within this segment, a battery "take- back" program was launched in 2024 and a joint press release, with Call2Recycle®, announced the program on February 20, 2025. The OPE industry is a model representation of how to implement such circular economies without being regulated to perform. The EPA recognizes these efforts and is working with OPEI directly to better understand the challenges that lay ahead of any federal battery recycling guidance or even future policy development. An OPEI-BEPC Task Group has been actively engaged, from Board member organizations, to ensure manufacturer input is involved in their regulatory framework developments.

Ongoing industry-led EPR efforts are underway and should be considered within any guidance or regulatory developments. OPEI continues to highlight the importance of involving major transportation carriers, such as FedEx and USPS, to enhance the effectiveness of the collection and recycling processes- especially in remote locations such as Hawaii. As follow up to prior Board request, a question concerning how any remaining OPEI Canada funds would be allocated if the BC Stewardship program were to be disbanded. A legal opinion was sought and highlighted that funds could go to OPEI directly after all obligations were resolved and no funds would be expected to be returned. A long-time OPEIC lobbyist, Keith Bell, will be retiring with new support expected to be in place in the coming weeks. Emissions Developments • The Van Ness Feldman (VNF) team: Britteny Fleming, Dick Penna, and Charlene Koski gave an update on the CARB challenge. In accordance with the Board’s December 19 direction, following EPA’s January 6 waiver approval, OPEI filed a petition for reconsideration with EPA and a petition for review in the 9 th Circuit. CARB & Earthjustice have filed motions to intervene in the 9 th Circuit petition for review. The original 9 th Circuit briefing schedule, subject to any abeyance, requests OPEI briefs by May 1 and an EPA response by June 2. EPA has no administrative requirement to respond to a petition for reconsideration so that schedule is uncertain. • Additionally, CARB issued a Manufacturer Advisory Correspondence advising that since MY 2025 has already started, CARB would delay enforcement until MY 2026. It was asked that a timeline be released to members the key dates and activity. • VNF also discussed the potential of Congress using the Congressional Review Act (CRA) to disapprove EPA’s waiver authorization. Recent Government Accountability Office (GAO) and Senate Parliamentarian opinions suggest waivers are not rules – so it is unclear if/how/when Congress will take up 3 waivers recently submitted by EPA (which does not include the SORE waiver), or if/when EPA will send the SORE waiver to the Hill. • Due to the uncertainty of all the moving pieces, VNF recommended OPEI request a meeting with EPA to discuss the timing concerns of the ongoing petitions, the status of OPEI’s request that the SORE waiver be sent to the Hill, and a potential stay request. No Board objections were noted. • Furthermore, VNF recommended OPEI restart efforts to prepare for EPA and 9 th Circuit stay requests – as MY2026 business planning and certification work must start immediately. No Board objections were noted. OPEI will proceed to finalize and submit stay declarations requesting a stay from CARB enforcement.

Mr. Knott gave an update on states looking to ban gas leaf blowers and trimmer equipment. States include AR, Indiana, UT, FL and NJ.

US Consumer Product Safety Commission Mr. Mustico introduced Erika Jones, a partner in the DC office of Mayer Brown, who provided an overview of the immediate impacts of the new administration on the CPSC and “independent” regulatory agencies more generally. The new administration is advancing a policy of unitary executive authority, questioning the statutory independence of agencies such as the CPSC and its respective commissioners. Currently the commission continues to have a 3-2 majority of Democratic commissioners although shortly after inauguration day they independently elected Peter Feldman the senior sitting Republican commissioner as the acting chair. Ms. Jones also highlighted several new executive orders which question the independence of CPSC, chill the power to initiate rulemaking, and require the rescission of existing rules. It is further expected that these orders, and potential future orders, could lead to the removal of sitting commissioners and bring into question the future existence of the CPSC generally. Mr. Mustico updated the board on the ongoing efforts of the member working group addressing the CPSC’s concerns related to riding mower safety. The vendor hired to respond to agency research on backover/runover hazards is expected to complete its work this spring. That project was funded in the FY24 and FY25 budgets. The working group has now asked OPEI to hire a third-party expert to conduct a human factors study of mower design changes which potentially can help mitigate backover/runover hazards, and lead to revisions of industry standards. A proposal for that work is expected to be included in June’s FY26 budget. The working group has also been analyzing incident data related to operator rollover hazards, to inform future potential changes to industry standards. Regardless of the changed posture of the CPSC, expected to be consistent over at least the next three plus years, the working group advises that this important work continue. Mr. Knott gave an update on the UTV proposed rules. OPEI submitted comments to an open data-related comment period in November, highlighting errors in the cost analysis that led to grossly overestimated rulemaking benefits. Based on the current political environment staff believes it is unlikely that a Final Rule will be proposed anytime soon. TurfMutt Mr. Kiser commented that the TurfMutt program continues as the main advocate for open space in backyarding for our current campaign for preserving public space. Hearst has been a major media partner in delivering our message and awareness of TurfMutt through their broad reach to a national audience. Hearst has offered the TurfMutt Foundation the title sponsorship of Lucky Dog Reunions, a CBS Morning television show in the FCC-negotiated Education and Information (E/I) block for $1.2 million for the 2025-2026, 52 week season, which would include a sponsorship call-out in every episode as well as four segments showcasing the TurfMutt Great Lawn, Equip Exposition and outdoor power equipment and the landscaping industry. Historically, the title sponsorship has been a $4 million investment. Lucky Dogs Reunion is the number 1 pet television show on air. The anticipated spend for FY26 is approximately 10% of OPEI’s overall budget. Mr. Nelson motioned to move forward with the allocation of $1.2 million to fund the Hearst proposal FY 2026 and Mr. Ariens seconded the motion. The Motion passed by acclamation.

Market Forecasting/ New Statistics Vendor Mr. Mustico briefed the board on OPEI’s new forecasting vendor, The Farnsworth Group, hired to begin facilitating industry forecasting beginning in 2025. The firm has completed its first quarterly forecast cycle, releasing the new U.S. and Canadian shipment forecasts to all OPEI members in early March. This new firm is expected to refresh the forecast deliverables and provide innovation in the data and analytical tools going forward. OPEI has invited Farnsworth to address the membership at OPEI’s annual meeting in June. OPEI’s other data vendor, Vault, has currently published the aggregate monthly shipment data, collected from each member, through January. Chemical Regulations /PFAS Mr. Mustico summarized this increasingly challenging policy area largely driven by Federal, state, and international concern over the presence of PFAS in products. OPEI is now working with Wiley Rein, including their in-house managed Complex Products Manufacturers Coalition, to help effectively and efficiently advocate consistent positions before numerous governments, all with disparate approaches to PFAS regulation which includes the requirement to report known uses, and also restrictions on and bans of use. Right to Repair Mr. Mustico briefly updated the board on continuing industry efforts to oppose misinformed state legislation which undermines the dealer business model and industry-provided repair solutions while also creating real risks of product modification which hampers product performance and safety. The most effective approach to date, successful in Minnesota, New York, Oregon, and California is including the industry-recommended exemption of all forms of off-road equipment. Future Board Meeting Mr. Kiser announced that the next Board meeting will be in June on Thursday, June 26 th, at the Annual Meeting on June 24-26 th to be held in Park City, UT. The next Board meeting will be during the Equip Exposition in Louisville on October 21. Adjournment Mr. Thorne called for a motion to adjourn. Motion made by Mr. Ariens, and seconded by Mr. Olson, to adjourn the meeting. The Board unanimously voted to adjourn at 2:16 p.m.

Proposed OPEI Board Slate and Officers

2025 Election Results The majority of the membership re-elected the following to the OPEI Board of Directors:

• Chris Keffer, President & CEO, STIHL Inc. • Klaus Hahn, President North America, Greenworks • Brian Melka, CEO, Rehlko

• Andres Rangert, President-Residential NA, Husqvarna-Forest & Garden Division • Nelson Wilner, Senior Vice President & General Manager, Engines Kawasaki Motors Corp. USA Proposed Candidates to fill terms: • Jonathan Chase, Vice President, Turf and Utility Business Unit, Deere & Co. (July 2025-June 2026) • Frank Carroll, CEO, Chervon Corporation, (Jan. 2026- June 2027)

Action requested: Approve Board appointments.

Proposed OPEI Officers 2025-2026 • Rick Olson, The Toro Company - Chair • Chris Keffer, STIHL Incorporated - Vice Chair • Harold Redman, Echo Incorporated - Treasurer/ Secretary

Action requested: Approve OPEI Board officers.

Outdoor Power Equipment Institute Proposed 2025-2026 Board of Directors

Rick Olson Chairman and CEO The Toro Company Andreas Rangert President- Residential NA Husqvarna Forest & Garden Division Harold Redman President Echo Incorporated Doug Redpath Outdoor President & General Manager Stanley Black & Decker Tom Rugg Sr. VP & President, Energy Solutions Briggs & Stratton LLC Jonathan Chase (Ret.Jul25-David Thorne) VP-Turf & Compact Utility Business Unit Deere & Company Nelson Wilner Sr. VP & General Manager, Engines Kawasaki Motors Corp. USA

Daniel Ariens Chairman and CEO Ariens Company Frank Carrol (Ret.Jan26- Mike Clancy) CEO Chervon North America Rick Gray President- Outdoor Power Equipment Milwaukee Tool Klaus Hahn President North America Greenworks Peter Hampton President and CEO Active Dynamics Chris Keffer President & CEO STIHL Incorporated Brian Melka President & CEO Kohler Energy

Commiee Approvals

B71.9 Mul-Purpose Off-Highway Ulity Vehicle Commiee • Chairperson – Nathan Dahl (Polaris) • Vice Chairperson – Robert Loehr (John Deere)

Acon requested: Approve chair and vice chair.

Financial Reports

For The Period Ended April 30, 2025 OPEI’s 2025 fiscal year begins Sept. 1. We are projecting $9,339,794 in revenue (including investments) and expenses totaling $9,073,578 for a net of $266,216. We have completed 67 percent of the year. Statement of Financial Position : • Assets: We are in a high cash position as we continue to collect exhibitor deposits for the 2025 show. Final payments are due June 1. The majority of the expenses are due after the show. OPEI is in the final stage of dues collection as we stay in connection with key contacts for the status of payments. Long-term investments are not as strong as last year; we are showing a net unrealized loss of $171,146. However, in May we saw the portfolio rebound with an unrealized gain of $216,825. • Deferred Income: represents unearned membership dues, and trade show revenue for the 2025 show. Indoor booth sales are ahead of last year. Income and Expenses • The trade show for 2024 exceeded net budgeted revenue by $402,758 and operating costs are expected to be about $79,000 less in the area of office operations. • Dues are expected to be $80,000 less than budget as we saw strong gains in new members last year, but this year drops exceeded the gain of new associate members. • Last year, at year-end, we contributed $1,558, 555 to net assets or retained earnings, which has led to previous Board decisions on how to spend the surplus. TurfMutt provides several opportunities to advocate the message of the benefits of outdoor space, expanding from backyarding to community green space. At the October board meeting, an additional $350,000 was approved for the Foundation to continue support for women in the industry with the program Mission: Unstoppable , a Hearst production. At the March meeting, the Board approved $1.2 million to be a sponsor of the national televised show Lucky Dog for the 2025-2026 season (Hearst production). Due to the production schedule, the contract required $720,000 to be paid in this fiscal year while the balance of $480,000 will be paid in September or FY26. • On a December Board call, $250,000-$400,000 was approved for the CARB SORE waiver challenge. Expenses for that challenge are projected this year to be $430,000. Meanwhile, the budget included $450,000 allocated for CPSC UTV debris penetration response, which is currently delayed until next year with current expenses projected to only be $40,000.

• The Consumer Riding Mower Working Group continues with funding for research and committee meetings to address the concerns of the CPSC. This has a budget of $550,000 but we are projecting to spend $350,000 this year and to carry over to next year. Action requested: Approve of the financial statements for the period ended April 30, 2025.

OUTDOOR POWER EQUIPMENT INSTITUTE STATEMENT OF FINANCIAL POSITION ASSETS

APRIL

Current Assets

2025

2024

Cash/Money Market

$ $ $

599,283 1,954,771 5,523,256 6,129,912 384,475 4,280,998

803,504 1,260,314 4,804,137 5,861,770 298,157 2,985,712

Expo Cash

Expo Money Mkt

Investments

Accounts Receivable Expo-Accounts Receivable Due From OPEI/ EXPO

(764)

15,824

TOTAL CURRENT ASSETS

18,871,930

16,029,418

Fixed Assets-OPEI

OPEI King Street Building OPEI King Street Land

3,178,753 1,523,544 (652,730) 4,049,566 1,082,621 (993,658) 1,086,675 (544,114) 542,562 4,681,091 88,963 675,314 (460,263) 215,051 409,857 (243,802) 166,055 171,882 (113,166) 58,716 458,377 5,139,468

3,178,753 1,523,544 (561,909) 4,140,388 1,088,670 (994,840) 1,086,675 (469,234) 617,441 4,851,659 93,830 675,314 (324,671) 350,643 396,304 (175,202) 221,102 170,430 (76,948) 93,482 797,484 5,649,143

Less: Accumulated Depreciation

Net Building

Furniture,Equipment & Software Less: Accumulated Depreciation Net Furniture & Equipment King Street Improvements/Fixtures Less: Accumulated Depreciation

Net Fixtures OPEI Assets

$ $

Fixed Assets- EXPO Lease/ROU

$ $ $

Less Accumulated Right of Use

Furniture,Equipment & Software Less: Accumulated Depreciation Net Furniture & Equipment

Improvements/Fixtures

Less: Accumulated Depreciation

Net Fixtures EXPO Assets

$ $ $

TOTAL FIXED ASSETS

Other Assets

Prepaid Expenses-OPEI/Expo

$ $

1,443,357

$ $

1,405,460

Advances to OPEI

EXPO Logo Merchandise

73,782

66,487

TOTAL OTHER ASSETS

1,517,139

1,471,947

TOTAL ASSETS

25,528,538

23,150,508

LIABILITIES AND TOTAL NET ASSETS

Liabilities

Accounts Payable Accrued Liabilities Lease Liability

102,311 438,973 228,106 992,941

50,908 433,933 367,953 1,041,378 8,595,586 232,290 10,722,048 9,769,529 2,658,931 12,428,460

Deferred Income - Dues Deferred Income-Trade Show

10,488,359

Deferred Income - Annual Meeting/Other

167,245

12,417,935

Net Assets - Unrestricted

Balance at Beginning of Year Excess Income over Expenses

11,328,084 1,782,519 13,110,603

Ending Net Assets

TOTAL LIABILITIES & NET ASSETS

25,528,538

23,150,508

OUTDOOR POWER EQUIPMENT INSTITUTE STATEMENT OF ACTIVITIES April 30, 2025

Projected Year-End Results

Projected vs. Budget Variance

Proj.

Annual Budget

YTD

Audited Year-end

% of

'25 vs. '24

% of

Actual FY25

INCOME

FY25

FY24

Bud

Membership Dues and Fees Regular Dues

2,300,000 495,000

1,472,279 326,046

$ 2,265,000

(35,000) (48,000) 4,250 (1,250)

$ 2,262,163

Associate Dues Affiliate Dues

447,000 14,750

480,600 14,371

10,500 2,500

9,999 1,250

Membership App. Fee TOTAL MEMBERSHIP

1,250

3,525

2,808,000

$ 1,809,574 64% $ 2,728,000 97% (80,000) $

$ 2,760,659 99%

Trade Show Income

$12,653,800 (5,142,970) (2,234,434) 5,276,396

$13,387,240 (5,473,652) (1,562,736)

$13,387,240 (5,473,652) (2,155,794)

733,440 (330,682)

$ 12,660,606 (4,928,003) (2,089,592)

Expenses

78,640

KY Operations

NET TRADE SHOW

$ 6,350,852 120% $ 5,757,794 109% 481,398 $

$ 5,643,011 102%

Other Income

Annual Meeting

240,000 99,500 40,000 93,000

- - - - - -

310,660 99,048 33,668 89,671

OPEAA Management Fee Advertising/Royalties

63,836 29,429 60,958

Rent

Miscellaneous

976

TOTAL OTHER INCOME

472,500

155,199

33% $

472,500 100%

533,047 89%

TOTAL OPERATING INCOME $

$ 8,315,625 97% $ 8,958,294 105% 401,398 $

$ 8,936,717 100%

8,556,896

OUTDOOR POWER EQUIPMENT INSTITUTE STATEMENT OF ACTIVITIES April 30, 2025

Projected Year-End Results

Projected vs. Budget Variance

Proj.

Annual Budget

YTD

Audited Year-end

% of

'25 vs. '24

Actual FY25

FY25

FY24

EXPENSES

Bud

Market Statistics

$ 465,000

$ 287,485

462,667

(2,333)

390,073

62%

99%

119%

Annual Meeting

375,000

394,883

100%

95%

(61,700)

124,667

57,114

94,300

Safety Standards

156,000

60%

76%

37%

Regulatory Committees

45,500

22,480

35,060

(10,440)

43,110

49%

77%

81%

Other Regulatory/Tech Programs CPSC- Lawnmower/Safety Education CPSC- ROV (UTV) Debris Penetration Rule

247,000 550,000 420,000

91,705 235,679 34,125 278,347

142,000 350,000 40,000 430,000

(105,000) (200,000) (380,000) 430,000

80,129

37% 43%

57% 64% 10%

177% 19% 69%

1,853,311

57,631

EPA CARB SORE Wavier Challenge-(Dec Call- 250K-400K

Legal Counsel

70,000

38,884

48,000

(22,000)

28,478

56%

69%

169%

(24,000)

25,500

13,000

26,000

Legislative Affairs

50,000

102%

26%

52%

127,132 188,507 892,815

92,723 117,395 2,420,000

150,000 180,000 2,420,000

Public Relations

150,000 285,000 1,700,000

100% 63%

118% 95% 271%

62% 41%

Saving Living Landscapes/Research

(105,000) 720,000

Foundation-Turf Mutt (300K June/350K Oct./ Mar. 1.2M)

142% 35%

(5,000)

2,583

3,450

5,000

Website

10,000

50%

Board of Directors

20,000

16,298

20,000

20,078

81%

100%

OPPAA Management

98,000

84,966

111,333

13,333

107,059

87%

114%

104%

Admin. & Fin. Consultants

57,500

59,334

1,834

70,719

103%

84%

Personnel & Overhead

4,213,826

2,771,840

4,124,884

(88,942)

3,902,902

66%

97%

106%

TOTAL OPERATING EXPENSES

$ 8,912,826

$ 6,624,825

9,073,578

$ 160,752

$ 8,309,577

74%

102%

109%

Change in Net Operating Income Before Investment Income

$ (355,930)

$ 1,690,800

(115,284)

$ 240,646

627,140

Investments

Interest/Dividend Income Interest -EXPO Sweep Unrealized Gain/(Loss) on Inv.

$ 190,000 $ 190,000

121,402 141,463 (171,146)

181,500 200,000

(8,500) 10,000

179,898 198,190 553,327 931,415

Total Investment Income

$ 380,000

91,719

381,500

1,500

24%

100%

41%

Change in Net Operating Income After Investment Income

266,216

$ 242,146

$ 1,558,555

24,070

$ 1,782,519

17%

CONSOLIDATED STATEMENT OF CASHFLOWS Outdoor Power Equipment and Equip Expo

For The Period Ending April 30, 2025

Net income per financial statement

$ 1,782,519

Adjustments to reconcile net income to cash provided by operating activities:

Depreciation

218,213

Realization and unrealized (gain)loss on investments

Amortization of right of use asset

91,051

(Increase) Decrease in: Accounts receivable

(3,613,631)

Due from Related Parties

(1,676)

Prepaid expenses

(2,397,642)

Inventory

27,681

Increase (Decrease) in: Accounts payable

724,676 (194,717) 1,990,334

Accrued liabilities Deferred income Operating Lease

Net Cash From Operating Activities

(3,155,712)

CASH FLOW FROM INVESTING ACTIVITIES Purchase of fixed assets

(12,376) 174,451

Purchase of Investments

Proceeds from sales of Investments

Net Cash from Investment Activities

162,076

Net increase in cash and cash equivalents

(1,211,117)

Cash At Beginning Of Year (09/01/24)

9,288,426

Cash At End Of Current Period (4/30/25)

$ 8,077,309

2024 Equip Exposition Show

FY 2024/2025

2024-BUDGET 12,653,800 (5,142,970)

ACTUAL-April 13,387,240 (5,473,652)

INCOME

DIRECT EXPENSES

7,510,830

7,913,588

NET

(2,234,434) 5,276,396

(2,155,794) 5,757,794

In-House Expenses Distribution to OPEI

Overview: (details attached for show and in-house expenses)

Income: • Indoor Booth space revenue- Exceed Budget by $558,820- sold more of the West Wing. The continues to have a wait list. Likewise, HNA revenue was up by $35,655 and Drayage income from the KEC was up by $52,000. • Sponsorship revenue-$77,500 over budget-Sold additional Sponsorship opportunities or sponsorships at a higher rate in the areas of opening reception, staircase/door/floor clings, APP sponsorship, digital boards at the KEC, and exhibitor spotlight series. Expenses: • Security and temporary staff increased and resulted in $66,845 over budget. This area continues to increase as the show grows. • Registration exceeded budget due to the shutdown and lack of information from the existing registration vendor when they encountered a breach to their system. We were able to expedite the new vendor that was scheduled to start registration for the 2025 show. Due to the transition and we also provided lead retrieval to the exhibitors, which resulted in additional costs of $391,510. • We purchased additional media buys to promote attendance to the show: $53,321. • AV for the tree education and general stage events were more than budget by $59,000. • The majority of the other expense areas, we were over by less than $20,000 and several of the areas had expenses less than budget. The greatest area under budget was with the KEC having expenses less than budget by $83,027. • In House expenses are expected to be within budget, projections are given under actual.

EQUIP EXPO EQUIP EXPO EQUIP EXPO EQUIP EXPO Variance Audited Audited Approved Budget Actual -APR 2024 Actual to SHOW 2022 SHOW 2023 SHOW 2024 SHOW 2024 2024 Budget

Show Canceled in 2020-COVID

INCOME Outdoor Space Indoor Booth Sales

1,222,400 8,335,000 418,500 135,000 34,500 699,500 230,000 36,500 364,600 1,177,800 -

1,233,603 8,893,820 454,155 153,778 33,250 777,250 250,000 47,710 405,653 1,137,723 -

11,203 558,820 35,655 18,778 (1,250) 77,750 20,000 11,210 41,053 (40,077) -

1,222,422 8,310,051 420,289 129,989 26,500 768,798 237,930 36,500 366,958 1,141,169 -

897,020 7,577,659 377,690

Hardscape North America

Equip Contract Processing Fee and Miscellaneous

95,744

Prior Year Income New Products Sponsorships Equip Magazine Equip ToGo/MYS Vendor Income Attendee Income Other Income

2,250

507,800 156,500 13,953 344,153 956,027

2,721

298

TOTAL INCOME

10,931,516 12,660,606

12,653,800

13,387,240

733,440

EXPENSES Building Rental

397,163 70,690 460,893 85,653 35,877 67,437 32,269 70,153 16,558 51,603 20,146 60,209 23,346 173,460 31,123 106,435 48,453 555,307 29,363 42,373 232,646 53,256 55,369 226,379

475,360 95,737 579,631 87,726 36,422 87,787 34,629 122,686 8,708 66,684 25,311 52,192 23,280 272,741 421,170 62,753 551,547 29,706 94,933 177,422 68,176 78,170 208,569 6,667

475,500 140,000 600,520 95,000 42,000 96,000 40,000 110,000 10,500 73,910 26,000 65,000 22,500 214,000 47,000 437,500 62,753 567,000 27,781 115,000 192,000 85,500 96,936 225,000

392,473 206,845 568,602 103,588 52,672 487,517 53,740 90,042 5,907 68,910 28,291 68,264 24,320 223,761 24,636 421,747 48,454 588,297 27,536 109,154 163,729 62,583 80,572 213,432

(83,027) 66,845 (31,918) 8,588 10,672 391,517 13,740 (19,958) (4,593) (5,000)

Security & Ushering Show Decorator Outdoor Demo Area Registration System Shuttles

AV Show/Events (formerly equipment)

Travel

Meetings & Development

Show Insurance Dealer Seminars

2,291 3,264 1,820 9,761

KEC- Catering/Miscellaneous- Mulligan 5K Fun Run and Walk

Event Event Event

Opening Reception Wednesday Closing Concert

(22,364) (15,753) (14,299) 21,297 (5,846) (28,271) (22,917) (16,364) (245) (11,568) 53,573 (5,000) 11,088 (4,343) 16,364 (3,500) (4,842) (26,945) - (782) (4,309) (3,698) 27,439 32,873 (5,000)

Branding Expenses

Equip Magazine Expenses Equip Merchandise Booth

New Show Format Promotions/Attendee Meals

General Promotion/Marketing/Web

Influencers

Software & Web Costs

Direct Mail Program/Registration Brochure

Land in Louisville Brochure

307,400

360,973

Advertising-

170,550

245,588

State Promotions

8,553

585

5,000

Related Associations/PGMS Photography/Video Exhibitor Prospectus Attendee Services Exhibitor Services Auditor/Legal Expenses Direct Expenses/Credit Card Fees

352,080 127,633 21,054 70,775 18,712 101,408 48,016 19,732 - 50,573 152,559 23,224 15,000

332,317 142,716 135,111 2,776 24,300 29,237 130,802 9,557 18,809 60,794 85,577 20,000 21,829

192,375 202,000 10,000 139,000 3,500 26,000 50,000 193,000 20,000 26,000 54,295 25,000 22,000

203,463 197,657

9,218

155,364

21,158 23,055 188,691 16,302 53,439 87,168 20,000 22,091

Features

Mutt Madness

Tree

Show Expansion-Educ./Keynote Hardscape North America

Friday Promotions Directory Expenses Total Expenses

4,126,027

4,928,003

5,142,970

5,473,652

330,682

TOTAL NET INCOME

6,805,489

7,732,603

7,510,830

7,913,588

402,758

OPEI EXPO LLC FY2024 In-House Expenses

Approved FY2025 BUDGET

APR Actual to

Audited Actual FY2023

Audited Actual FY2024

FY2025 Actual

Budget Percent

Personnel:

Compensation Vacation Expense

1,123,105

1,191,722

1,236,000

906,250

73%

25,816 76,365 2,529 98,122 82,051 0

20,000 87,434

Payroll Taxes

81,721

63,958

73%

Temporary Support Personnel/Payroll Fee Employee Benefits

2,853

4,500

2,725 94,227 170,142

61% 63% 90% 73% 64% 51% 66% 52%

126,505 179,001 1,581,802

150,000 190,000

Retirement Plan

Total Personnel:

1,407,988

1,687,934 1,237,302

General Overhead:

Building Rent Expense- Nov 1

148,262 23,416 34,433 45,696 28,980 2,958 82,609 9,696 3,264 21,800 1,309 6,336 3,061 2,842 7,780 17,550 0

148,680 31,382 34,433 45,663 28,980 6,658 150,627 8,419 7,216 10,723

153,000 35,000 34,500 47,000 30,000 5,000 160,000 10,000 8,000 20,000

98,674 17,685 22,757 24,347 19,320 6,032 96,260 2,838 6,074 10,724

Building Operations

Depr.-Buildout Upgrades/Design Depr.- Furniture and Equipment Depr. - Software/Website Update Legal Counsel: Contracts/copyrights

64% 121% 60% 28%

Public Relations-FourLeaf

Office Supplies

Maintenance & Equip. Other Dues, Fees & Pubs. IT Support/ Software Maint. Fees

76% 54% 0% 0% 0% 0% 77% 24% 57% 64% 60% 70% 0%

774

0 0

279

Insurance

Miscellaneous Taxes-Tax Filing

1,000

767

Misc. Travel

0 0

Training/Education Postage/Shipping Telephone/Internet Bank/Brokerage Fees

5,000 8,000 20,000 10,000 546,500 0

5,555 16,693

1,952 11,366

Miscellaneous

17,449 457,453 1,865,441

11,853 507,724 2,089,526

6,359

Total General Overhead

325,434

Total OPEI EXPO Personnel and Overhead

2,234,434 1,562,736

Notes to the Financial Statements April 30, 2025

1. General Information and Summary of Significant Accounting Policies

Organization – The Outdoor Power Equipment Institute, Inc. (OPEI) was incorporated in 1952 in the State of Delaware. OPEI’s purpose is to promote the outdoor power equipment industry by undertaking activities that can be pursued more effectively by an association than by individual members. OPEI serves as an industry advocate on behalf of its members. Basis of presentation – OPEI’s financial statements are prepared on the accrual basis of accounting and in accordance with FASB ASC 958, Not-for- Profit Entities . Property and equipment – Property and equipment are recorded at cost and depreciated using the straight-line method over their estimated useful lives ranging from 3 to 35 years. OPEI/EXPO has a capitalization threshold of $1,000. Income taxes – OPEI/EXPO is exempt from federal income taxes under Section 501(c)(6) of the Internal Revenue Code. The association has chosen to pay proxy taxes on lobbying activities in lieu of disclosing to its membership the percentage of dues that is to be excluded as a deduction on the members’ tax returns. Use of estimates – The preparation of the financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Accordingly, actual results could differ from those estimates. Net asset classification – The net assets reported include unrestricted revenue and dues received without restrictions. These net assets are available for the operations of OPEI. OPEI Building In August 2017, OPEI purchased a new office condominium. The purchase price was $400 per square foot for approximately 8,751 gross square feet for a price of $3,675,400 including 7 parking spaces. In January 2018, OPEI purchased additional condominium space for $1,007,406 less a credit of $17,500 which also included the remaining 5 parking spaces. Overall, OPEI has 83% ownership in the building. The building will be depreciated over 35 years less a $1,523,544 land value. In October 2017, OPEI sold condominium office space for a net gain on the sale of $1,223,553.

Equip Expo Building- Lease Commitment

In June 2021, Equip Expo signed a lease agreement for office space in Louisville, Kentucky that commenced on November 1,2021 and terminates on November 30 ,2026. Base rent under this agreement is $11,928 per month, with an increasing factor of 2.5% per year. Under the lease agreement, the Equip Expo received a rent abatement for the first month of the lease.

Litigation

On April 30, 2025, no lawsuits are pending.

5. Investments Investments – Investments consist of marketable securities, including government bonds, which are recorded at their readily determinable fair value. Realized and unrealized gains and losses are shown in the Statement of Activities and Change in Net Assets. For the long-term reserve portfolio, fixed and bonds are 30% and equities 70%. Investments on April 30, 2025: Market Value Money Market- Equip Sweep 5,822,303 Bonds 1,779,133 Mutual & exchange traded funds: – large, mid, and small cap 2,168,344 – international equities 1,752,446 – Emerging Markets 162,889 6 . Trade Show

The 2021 show was the last year operating under the terms of a Limited Liability Company operating agreement, GIE/OPEI, LLC. OPEI and the Green Industry Exposition (GIE) combined their individual trade shows to create GIE+EXPO and share the net revenue from the show 65:35. The 2022 show was the first year solely owned by OPEI and managed in- house as the equipExposition. OPEI established the OPEI Expo LLC and began operations in July 2021.

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