highwater-20250306


HIGHWATER ETHANOL, LLC
(Exact name of registrant as specified in its charter)

Minnesota	333-137482	20-4798531
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification No.)

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Title of each class	Trading Symbol(s)	Name of each exchange on which registered

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

On March 6, 2025, Highwater Ethanol, LLC (the "Company") held its 2025 annual members' meeting ("2025 Annual Meeting") to vote on the election of three governors whose terms were scheduled to expire in 2025, conduct an advisory vote on executive compensation called "Say-On-Pay" and conduct an advisory vote on the frequency of the advisory voting on Say-On-Pay.

Russell Derickson, Ronald Jorgenson and Michael Landuyt were elected by a plurality vote of the members to serve terms which will expire in 2028. The votes for the nominees for governor were as follows:


Nominee Governors	For	Abstentions/Withheld
Russell Derickson	1,946.50	52.00
Ronald Jorgenson	1,839.50	159.00
Michael Landuyt	1,843.50	155.00

The compensation of our executives was approved by the members. The votes for Say-On-Pay were as follows:

The frequency of the advisory vote on Say-On-Pay approved by the members was every three years. The votes were as follows:


Every Year	Every Two Years	Every Three Years	Abstentions
251.00	534.50	892.00	162.00

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


			HIGHWATER ETHANOL, LLC

Date: March 7, 2025			/s/ Brian Kletscher
			Brian Kletscher, Chief Executive Officer


For	Against	Abstentions
1,608.50	129.00	107.00