Investor Presentaiton

ALLETE Clean Energy is strategically positioned clean energy as demands for clean energy accelerate Condon 50 MW South Peak Glen Ullin 106 MW 80 MW Thunder Thunder Spirit | 107 MW Spirit || 48 MW Chan/Viking 98 MW Lake Benton 104 MW Cisco/Lincoln Heights 17 MW Storm Lake | 108 MW Storm Lake II 78 MW SMART. POWERFUL. AHEAD GROWTH OPPORTUNITIES Near-term • Diamond Spring 303 MW project • Caddo 303 MW project • Additional PTC qualified turbines Build-Own-Transfer Owned Owned-To be refurbished Under construction Caddo 303 MW Diamond Spring 303 MW Armenia Mountain 101 MW 25 25 • Long-term Operating facilities (post tax benefit) totaling over 23,000 MWs presents acquisition opportunities • Build, own, transfer projects •Expanding technologies - evaluating solar and energy storage plus renewable projects • Industry demands expanding products and services ALLETE

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