ALLETE(ALE) - 2023 Q2 - Earnings Call Presentation

Financial Performance - ALLETE reported second quarter 2023 results of $74 million[11] - The company is on track to achieve or slightly exceed $16 million - $17 million full year earnings[11] - Net income attributable to ALLETE in the second quarter of 2023 was $515 million, compared to $376 million in the second quarter of 2022[14] - Diluted earnings per share of common stock were $090 in the second quarter of 2023, compared to $067 in the second quarter of 2022[14] Strategic Initiatives - ALLETE is ranked 1 among investor-owned utilities for investment in renewable energy based on market capitalization[5] - Minnesota Power had 50% renewable energy supply at the end of 2020, with a goal of 70% by 2030[7] - Minnesota Power aims to be coal-free by 2035 and achieve 100% carbon-free vision by 2050[7] Project Pipeline - ALLETE Clean Energy has an established renewable platform of over 1500 MW[5] - ALLETE Clean Energy has closed 475 MW+ projects[13] - ALLETE Clean Energy has a development pipeline of >2 GW[13]