ALLETE (ALE) Proxy Filing summary

Executive summary

• Special meeting for shareholders to vote on a proposed transaction is scheduled for August 21, 2024, at 10:30 a.m. CDT.

• Proxy materials were distributed to shareholders between July 19 and July 25, 2024, with instructions for online or telephone voting.

• Board recommends voting “FOR” all proposals at the special meeting; failure to vote counts as a vote “AGAINST” the merger agreement.

• Operations continue as usual pending the outcome of the shareholder vote.

Voting matters and shareholder proposals

• Shareholders are voting on approval of a merger agreement and related transactions.

• Board recommends approval of all proposals presented at the special meeting.

• Not voting is equivalent to voting against the merger agreement.

Board of directors and corporate governance

• Certain directors and executive officers are participants in the proxy solicitation and may have interests in the transaction that differ from other shareholders.