Welcome to Highwater Ethanol

Notice of Elections for Highwater Ethanol, LLC

Highwater Ethanol, LLC is currently managed by a Board of Governors consisting of eleven Governors (the “Initial Governors”). Pursuant to the Amended Member Control Agreement (the “Operating Agreement”) the initial Governors serve until the first annual meeting of the Members following the date on which Highwater Ethanol commences substantial operations. As Highwater Ethanol became operational in August 2009, the term of the Initial Governors will conclude at the 2010 Annual Meeting, and a new Board of Governors will be elected.

The number of Governors elected at the 2010 Annual Meeting shall be set at nine Governors as set forth in the Operating Agreement. Additionally, the Operating Agreement requires Elected Governors to serve staggered terms of three years. In order to accomplish the staggered tiers, the Initial Governors will vote to identify the Governor positions to be elected and classify each Governor position as Group I, Group II or Group III. Group I Elected Governors will be elected for an initial term of one year, Group II Elected Governors will serve an initial term of two years, and Group III Governors will serve an initial term of three years. Each group will serve terms of three years following each group’s respective initial term.

Nominees to be Elected Governors must be named by the Initial Governors, a Nominating Committee established by the initial Governors or through nomination by a Member. Pursuant to the Operating Agreement, any Member wishing to make a nomination for Governor must do so by written notice to make a nomination, either by personal delivery or by US mail, postage prepaid, to the Highwater Ethanol Nominating Committee. This notice must be delivered to the company no later than January 12, 2010 and no earlier than November 28, 2009. Highwater’s website will set forth the necessary information to be included in the notice to nominate a Governor. If any Member has additional questions regarding the Governor nomination or election processes, please do not hesitate to contact the company.

General Mission: To successfully build and operate an ethanol facility, which will be profitable to our investor owners, while contributing to the economic growth in the region.

Statements made in this web publication, other than statements of historical fact, about Highwater Ethanol, LLC’s future production, operations or other future prospects are forward-looking statements and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. Such factors include, among others, risks associated with the ethanol industry generally, the ability of the plant to timely meet all requirements of financing and construction of the plant, and other risk factors as described in Highwater Ethanol, LLC’s prospectus and other filings with the Securities and Exchange Commission. Many of these factors are beyond Highwater Ethanol, LLC’s ability to control or predict. Highwater Ethanol, LLC disclaims any intent or obligation to update its forward-looking statements, whether as a result of receiving new information, the occurrence of future events, or otherwise.