THE CORPORATE LIBRARY

Related Party Transactions and Outside Related Director Information

Bandag, Incorporated (BDG)

4/17/2006 Proxy Information

Roy J. Carver, Jr., brother of Martin G. Carver, owns 100% of Carver Aero, Inc., which operates fixed base operations at airports in Muscatine, Iowa; and Davenport, Iowa. During 2005, it sold $221,101 of aviation fuel and charter services to the Corporation at competitive prices based on volume purchased and services utilized. Phillip J. Hanrahan, a director, is a partner of the law firm of Foley & Lardner LLP, Milwaukee, Wisconsin, which has provided legal services to the corporation for several years, including 2005, and expects to provide legal services in 2006. Mr. Edgar D. Jannotta, a director, is Chairman of William Blair & Company, L.L.C. and Chairman of that firmÕs Executive Committee. William Blair & Company, L.L.C. has provided investment banking services to the Corporation for several years, including 2005, and may provide services in 2006 if requested by the Corporation.

3/31/2005 Proxy Information

Roy J. Carver, Jr., brother of Martin G. Carver, owns 100% of Carver Aero, Inc., which operates fixed base operations at airports in Muscatine, Iowa; and Davenport, Iowa. During 2003, it sold $141,067.60 of aviation fuel and charter services to the Corporation at competitive prices based on volume purchased and services utilized. Phillip J. Hanrahan, a director, is a partner of the law firm of Foley & Lardner LLP, Milwaukee, Wisconsin, which has provided legal services to the corporation for several years, including 2003, and expects to provide legal services in 2004. Mr. Edgar D. Jannotta, a director, is Chairman of William Blair & Company, L.L.C. and Chairman of that firmÕs Executive Committee. William Blair & Company, L.L.C. has provided investment banking services to the Corporation for several years, including 2003, and may provide services in 2004 if requested by the Corporation.

3/31/2004 Proxy Information

Roy J. Carver, Jr., brother of Martin G. Carver, owns 100% of Carver Aero, Inc., which operates fixed base operations at airports in Muscatine, Iowa; and Davenport, Iowa. During 2003, it sold $141,067.60 of aviation fuel and charter services to the Corporation at competitive prices based on volume purchased and services utilized. Phillip J. Hanrahan, a director, is a partner of the law firm of Foley & Lardner LLP, Milwaukee, Wisconsin, which has provided legal services to the corporation for several years, including 2003, and expects to provide legal services in 2004. Mr. Edgar D. Jannotta, a director, is Chairman of William Blair & Company, L.L.C. and Chairman of that firmÕs Executive Committee. William Blair & Company, L.L.C. has provided investment banking services to the Corporation for several years, including 2003, and may provide services in 2004 if requested by the Corporation.

4/7/2003 Proxy Information

Roy J. Carver, Jr., brother of Martin G. Carver, owns 100% of Carver Aero, Inc., which operates fixed base operations at airports in Muscatine, Iowa; Davenport, Iowa, and Clinton, Iowa. During 2002, it sold $93,264.94 of aviation fuel and charter services to the Corporation at competitive prices based on volume purchased and services utilized. Phillip J. Hanrahan, a director, is a partner of the law firm of Foley & Lardner, Milwaukee, Wisconsin, which has provided legal services to the corporation for several years, including 2002, and expects to provide legal services in 2003. Mr. Edgar D. Jannotta, a director, is Chairman of William Blair & Company, L.L.C. and Chairman of that firm's Executive Committee. William Blair & Company, L.L.C. has provided investment banking services to the Corporation for several years, including 2002, and may provide services in 2003 if requested by the Corporation.

On June 19, 2002, pursuant to an agreement executed on June 18, 2002, the Corporation purchased 1,114,746 shares of the Corporation's Class B Common Stock and 418,371 shares of its Class A Common Stock from Lucille A. Carver, widow of the founder of the Corporation and a director from 1957 until May 14, 2002. Mrs. Carver is the mother of Martin G. Carver, Chairman of the Board, Chief Executive Officer and President and a director of the Corporation, and Roy J. Carver, Jr., a director of the Corporation. The purchase price per share was $27.04 and $24.00 for the Class B Common Stock and Class A Common Stock, respectively, which was equal to the composite closing prices of the Corporation's Common Stock (in the case of the Class B Common Stock) and Class A Common Stock on the New York Stock Exchange as of the close of business on June 18, 2002, less a discount of 3.5% per share in the case of the Class B Common Stock and 4.0% per share for the Class A Common Stock. The total purchase price was approximately $40,184,000.