Company: DTG
Filing Date: 2025-12-19
Form Type: 424B5
Source: 0001193125-25-326903
Chunk: 9

Company: DTE ENERGY CO
Filing Date: 2025-12-19
Form: 424B5
Chunk 9
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 stock under the equity distribution agreement and any forward sale agreement may be dilutive and there may be future dilution of shares of our common stock. The issuance of shares of our common stock in this offering, as well as any shares issued by us in connection with a physical or net share settlement in respect of a forward sale agreement, the receipt of the expected net proceeds and the use of those proceeds, may have a dilutive effect on our expected net income available to common shareholders per share and funds from operations per share. The actual amount of dilution cannot be determined at this time and will be based on numerous factors. Additionally, we are generally not restricted from issuing additional shares of our common stock, including any securities that are convertible into or exchangeable for, or that represent the right to receive, shares of our common stock or any substantially similar securities. The market price for shares of our common stock could materially decline as a result of sales of shares of common stock or similar securities in the market made after this offering or the perception that such sales could occur. Additionally, future issuances or sales of a large number of shares of our common stock may be at prices below the offering price of shares of our common stock offered by this prospectus supplement and may adversely impact the market price of our common stock. Provisions contained in a forward sale agreement could result in substantial dilution to our earnings per share and return on equity or result in substantial cash payment obligations. If we enter into one or more forward sale agreements, the relevant Forward Purchaser under each forward sale agreement will have the right to accelerate its forward sale agreement (with respect to all or any portion of the transaction under such forward sale agreement that the Forward Purchaser determines is affected by an event described below) and require us to physically settle on a date specified by such Forward Purchaser if:

| • |     | in such Forward Purchaser’s good faith, commercially reasonable judgment, it or its affiliate (a) is                                                                                                                                         
 unable to hedge its exposure under such forward sale agreement because an insufficient number of shares of our common stock have been made available for borrowing by securities lenders or (b) would incur a stock loan cost in excess of a 
 specified threshold to hedge its exposure under such forward sale agreement;                                                                                                                                                                 |

| • |     | we declare any dividend, issue or distribution on shares of our common stock (a) payable in cash in excess                                                                                                   
 of specified amounts (unless it is an extraordinary dividend) during the relevant periods, (b) payable in securities of another company