Ames National (ATLO) Proxy Filing summary

Executive summary

• The annual meeting is scheduled for April 30, 2025, with shareholders voting on director elections and auditor ratification.

• Proxy materials are available online, with paper copies upon request, to reduce costs and expedite delivery.

• Shareholders of record as of February 28, 2025, are eligible to vote via internet, mail, or in person.

• The Board recommends voting in favor of all proposals.

Voting matters and shareholder proposals

• Four directors are nominated for three-year terms; three are incumbents and one is a new nominee.

• Ratification of Forvis Mazars, LLP as the independent registered public accounting firm for 2025 is up for vote.

• Shareholder proposals for the 2026 meeting must be received by November 14, 2025.

Board of directors and corporate governance

• The Board consists of eleven directors, divided into three staggered classes.

• Majority of directors are independent per NASDAQ standards; only two are not due to employment relationships.

• Board committees include Audit, Personnel, and Nominating, each with defined responsibilities and independent members.

• Directors are evaluated on business experience, community involvement, and prior service on subsidiary bank boards.

• Leadership is separated between the CEO and Chairman roles.