ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.

Under the Member Control Agreement of Heron Lake BioEnergy, LLC (the "Company"), any member who, together with such member's affiliates, holds 9% or more of the Company's units outstanding is entitled to appoint one governor to the board for every 9% of units held. Under this provision, Project Viking, LLC ("Project Viking") is entitled to appoint four governors. An appointed governor serves indefinitely at the pleasure of the member appointing him or her (so long as such member and its affiliates continue to hold a sufficient number of units to maintain the applicable appointment right) until a successor is appointed, or until the earlier death, resignation or removal of the appointed governor.

On January 23, 2012, David M. Reinhart, a Project Viking appointee, resigned from the Company's Board of Governors effective immediately. Project Viking has not yet designated a successor appointee to the Board of Governors.