Company: WELPM
Filing Date: 2025-09-19
Form Type: 424B2
Source: 0001104659-25-091569
Chunk: 18

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-09-19
Form: 424B2
Chunk 18
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 States federal income tax with respect to such gain, unless (i) the gain is effectively
connected with the conduct by such Non-United States Holder of a trade or business within the United States, and, if certain tax treaties
apply, is attributable to a permanent establishment or fixed base within the United States, or (ii) in the case of a Non-United States
Holder that is a nonresident alien individual, such Non-United States Holder is present in the United States for 183 or more days in the
taxable year of the disposition and certain other conditions are satisfied. In the case described in (i) above, gain or loss recognized
on the disposition of such Debentures generally will be subject to United States federal income taxation in the same manner as if such
gain or loss were recognized by a United States Person, and, in the case of a Non-United States Holder that is a foreign corporation,
may also be subject to the branch profits tax at a rate of 30% (or a lower applicable treaty branch profits tax rate). In the case described
in (ii) above, the Non-United States Holder will be subject to a 30% tax (or lower applicable treaty rate) on any capital gain recognized
on the disposition of the Debentures (after being offset by certain United States source capital losses).

To the extent the amount realized on
a sale, exchange, redemption or other taxable disposition of the Debentures is attributable to accrued but unpaid interest on the Debentures,
such amount generally will be subject to, or exempt from, tax to the same extent as described under “—Interest” above.

Information Reporting and Backup Withholding

Information returns will be filed annually
with the IRS in connection with our payment of interest on the Debentures. Copies of these information returns may also be made available
under the provisions of a specific tax treaty or other agreement to the tax authorities of the country in which the Non-United
States Holder resides. Unless the Non-United States Holder complies with certification procedures to establish that it is not a United
States Person, information returns may be filed with the IRS in connection with the proceeds from a sale or other disposition of the Debentures,
and the Non-United States Holder may be subject to backup withholding tax (currently at a rate of 24%) on payments of interest on the
Debentures or on the proceeds from a sale or other disposition of the Debentures. The certification procedures required to