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Analyst Coverage

Analyst	Firm
Lawrence Solow	CJS Securities
James Bellessa	D. A. Davidson
David Parker	Robert W. Baird & Co.
Dustyn Owen	Sidoti & Co., LLC
Paul Debbas	Value Line
Chris Ellinghaus	Williams Capital Research

ALLETE is followed by the analyst(s) listed above. Please note that any opinions, estimates or forecasts regarding ALLETE's performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of ALLETE or its management. ALLETE does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.