ALLETE (ALE) Proxy Filing summary

Executive summary

• Progress continues toward completing the acquisition by CPP Investments and GIP, with regulatory filings submitted to key agencies and closing anticipated in mid-2025.

• A special shareholder meeting to vote on the proposed transaction is scheduled for August 21, 2024.

• Proxy materials have been distributed to shareholders, with instructions for voting online or by phone.

• Forward-looking statements highlight expectations, risks, and uncertainties related to the transaction, including regulatory and shareholder approval timelines.

Voting matters and shareholder proposals

• Shareholders will vote on the proposed acquisition and related matters at the special meeting.

• The board recommends voting "FOR" all proposals; failure to vote is counted as "AGAINST" the merger agreement.

Board of directors and corporate governance

• Directors and executive officers may have interests in the transaction that differ from those of other shareholders.

• Additional information on participant interests is available in the proxy statement.