Strategic gift funds the Carlson School of Management Leadership Lab and accelerates applied engineering and sustainable materials innovation at the University of Minnesota Duluth Advanced Materials Center.

BLOOMINGTON, MN [September 24, 2026] — The Toro Company (NYSE: TTC) announced a $1.5M total investment to the University of Minnesota to advance strategic partnerships across the multi-campus system. The coordinated gift allocates $1M to Minnesota Carlson on the Twin Cities campus and $500,000 to the Swenson College of Science and Engineering’s Advanced Materials Center on the Duluth campus. This investment aligns university expertise, workforce development, and technical talent directly with The Toro Company’s business values and long-term strategic priorities.

By investing simultaneously in business leadership and technical engineering, the university-wide partnership establishes an integrated talent pipeline while anchoring immediate initiatives in the Twin Cities and Duluth.

"Building on our longstanding partnership with the University of Minnesota, this strategic investment reflects a shared commitment to developing talent, advancing our innovation roadmap and creating opportunities that strengthen Minnesota's skilled workforce," said Rick Olson (MBA, ‘10), chairman and chief executive officer of The Toro Company. "By helping develop career-ready graduates and supporting the next generation of leaders and innovators, we're building a stronger future for Minnesota's industries, employers and communities."

Carlson School of Management Leadership Lab: Expanding Human Capabilities 
The allocation to Minnesota Carlson supports the Leadership Lab, an innovative co-curricular program combining rigorous academic coursework with an intensive 75-to-100-hour experiential project ("Leadership in Action") conducted alongside local nonprofits. The Leadership Lab applicant pool has grown 25% year-over-year, so this gift will allow the Lab to increase student access and enhance its programming. The Leadership Lab is directed by Program Lead Professor Theresa Glomb, who holds The Toro Company-David Lilly Chair in Organizational Behavior. Professor Glomb, a renowned expert on worker well-being, maintains a deep, decade-long relationship with The Toro Company’s executive leadership, global human resources, and business unit teams. Since its launch in Spring 2021, the Lab has successfully executed 22 high-impact community projects with more than 13 mission-driven nonprofit organizations.

University of Minnesota Duluth Advanced Materials Center: Engineering Environmental Solutions 
Simultaneously, the allocation to the University of Minnesota Duluth campus supports the Advanced Materials Center (AMC) in the Swenson College of Science and Engineering by providing scholarship support for graduate students studying applied materials science and advancing ongoing sustainability research. The AMC is led by Director Michael Pluimer, PhD, an associate professor of Civil Engineering with 25 years of industry experience. Since launching this alliance in 2018, the AMC has mentored 40 senior engineering design projects for The Toro Company’s Center for Technology, Research and Innovation.

"We are immensely grateful to The Toro Company for this generous $1.5 million investment," said University of Minnesota President Rebecca Cunningham. "By expanding our capacity to train values-driven leaders at Minnesota Carlson and accelerating cutting-edge sustainable materials engineering at the University of Minnesota Duluth, this partnership creates a profound ripple effect that benefits our students, regional industry, and local communities alike."

ABOUT THE UNIVERSITY OF MINNESOTA

The University of Minnesota is a comprehensive, public land-grant research university with five distinct campuses across the state. Committed to changing lives through high-impact education, groundbreaking research, and community outreach, the university prepares a career-ready workforce to drive corporate innovation, economic vitality, and environmental resilience across the Upper Midwest and globally.

ABOUT THE TORO COMPANY

The Toro Company (NYSE: TTC) is a leading global provider of solutions for the outdoor environment, including turf and landscape maintenance, snow and ice management, underground utility construction, rental and specialty construction, and irrigation and outdoor lighting solutions. With net sales of $4.5 billion in fiscal 2025, The Toro Company’s global presence extends to more than 125 countries through a family of brands that includes Toro, Ditch Witch, Exmark, BOSS, Ventrac, Tornado, HammerHead, American Augers, Spartan, Subsite, Radius, Hayter, Perrot, Unique Lighting Systems, Irritrol, and Lawn-Boy. Through constant innovation and caring relationships built on trust and integrity, The Toro Company and its family of brands have built a legacy of excellence by helping customers work on golf courses, sports fields, construction sites, public green spaces, commercial and residential properties, and agricultural operations. For more information, visit www.thetorocompany.com.

MEDIA CONTACTS

The Toro Company 
Molly Giesen 
Molly.Giesen@toro.com

University of Minnesota Carlson School of Management 
Rose Semenov 
rsemenov@umn.edu

University of Minnesota Duluth 
Alex Messenger 
amesseng@d.umn.edu