Company: WELPM
Filing Date: 2025-09-18
Form Type: 424B5
Source: 0001104659-25-091050
Chunk: 16

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-09-18
Form: 424B5
Chunk 16
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 States, any state thereof or the District of Columbia; (iii) an estate the income of which is subject to United
States federal income taxation regardless of its source; or (iv) a trust if (A) a court within the United States is able to
exercise primary control over its administration and one or more United States persons, within the meaning of Section 7701(a)(30)
of the Code, have the authority to control all substantial decisions of such trust, or (B) the trust has made an election under the
applicable Treasury regulations to be treated as a United States Person. If a partnership, or other entity or arrangement treated as a
partnership for United States federal income tax purposes, beneficially owns the Debentures, the tax treatment of a partner in such partnership
will generally depend upon the status of the partner and the activities of the partnership. Partners in a partnership that beneficially
own the Debentures should consult their tax advisors as to the particular United States federal income tax considerations relevant
to the acquisition, ownership and disposition of the Debentures applicable to them.

Interest

It is anticipated, and this discussion
assumes, that the Debentures will not be issued with more than a de Minimis amount of original issue discount. Except if interest on the
Debentures is effectively connected with the conduct by a Non-United States Holder of a trade or business within the United States, and
subject to the potential back-up withholding and Foreign Account Tax Compliance Act (“FATCA”) withholding summarized below,
a Non-United States Holder generally will not be subject to United States federal income or withholding tax on payments of interest
on the Debentures provided that such Non-United States Holder (A) does not directly or indirectly, actually or constructively, own
10% or more of the total combined voting power of all classes of Wisconsin Electric’s stock entitled to vote, (B) is not a
controlled foreign corporation that is related to Wisconsin Electric directly or constructively through stock ownership, (C) is not
a bank receiving such interest on an extension of credit made pursuant to a loan agreement entered into in the ordinary course of its
trade or business, and (D) satisfies certain certification requirements. Such certification requirements will be met if (x) the
Non-United States Holder provides its name and address, and certifies on an IRS Form W-8BEN or IRS Form W-8BEN-E (or a
substantially