Company: WELPM
Filing Date: 2025-03-27
Form Type: DEF 14C
Source: 0000107815-25-000155
Chunk: 105

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-03-27
Form: DEF 14C
Chunk 105
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2024, compared with 2023, to balance our capital structure.

These increases in net cash provided by financing activities were partially offset by:

• A $655.0 million decrease in equity contributions received from our parent during 2024, compared with 2023, to balance our capital structure.

• A $300.1 million decrease in cash due to higher retirements of long-term debt during 2024, compared with 2023.

• An $81.0 million decrease in cash due to higher net repayments of commercial paper during 2024, compared with 2023.

• A $10.9 million decrease in cash due to higher payments for finance lease obligations during 2024, compared with 2023.

#### Significant Financing Activities
For more information on our financing activities, see Note 11, Common Equity, Note 13, Short-Term Debt and Lines of Credit, and Note 14, Long-Term Debt.

### CASH REQUIREMENTS
We require funds to support and grow our business. Our significant cash requirements primarily consist of capital and investment expenditures, payments to retire and pay interest on long-term debt, the payment of common stock dividends to our parent, and the funding of our ongoing operations. Our significant cash requirements are discussed in further detail below.

#### Significant Capital Projects
We have several capital projects and acquisitions that will require significant capital expenditures over the next three years and beyond. All projected capital requirements are subject to periodic review and may vary significantly from estimates, depending on a number of factors. These factors include environmental requirements, regulatory restraints and requirements, changes in tax laws and regulations, acquisition and development opportunities, market volatility, economic trends, supply chain disruptions, inflation, and interest rates. Our estimated capital expenditures and acquisitions for the next three years are reflected below. These amounts include anticipated expenditures for environmental compliance and certain remediation issues. For a discussion of certain environmental matters affecting us, see Note 22, Commitments and Contingencies.

| (in millions) |     |   |         |
|:--------------|:----|:--|--------:|
| 2025          |     | $ | 3,047.3 |
| 2026          |     |   | 3,281.2 |
| 2027          |     |   | 3,501.6 |
| Total         |     | $ | 9,830.1 |

We continue to upgrade our electric and natural gas distribution systems to enhance reliability. These upgrades include addressing