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

Company: DTE ENERGY CO
Filing Date: 2025-12-19
Form: 424B5
Chunk 25
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 such forward sale agreement (each as more fully described in each forward sale agreement). A
Forward Purchaser’s decision to exercise its right to accelerate any forward sale agreement and to require us to physically settle any such forward sale agreement will be made irrespective of our interests, including our need for capital. In
such cases, we could be required to deliver shares of our common stock under the terms of the physical settlement provisions of the applicable forward sale agreement irrespective of our capital needs, which would result in dilution to our earnings
per share and return on equity. In addition, upon an insolvency filing relating to us, each forward sale agreement then outstanding will terminate without further liability of either party. Following any such termination, we would not deliver any
shares of our common stock and we would not receive any proceeds pursuant to the forward sale agreement. See “Risk Factors.”

Unless otherwise required, we will report at least quarterly the number of shares of our common stock sold through the Managers and the
Forward Sellers under the equity distribution agreement, the number of shares of our common stock delivered to the Forward Purchasers pursuant to any forward sale agreement, the net proceeds to us and the compensation paid by us to the Managers, the
Forward Purchasers and the Forward Sellers in connection with the sales of shares of our common stock.

Conflicts of Interest

The Forward Purchasers (or their respective affiliates) will receive the net proceeds of any sale of borrowed shares of our common stock sold
pursuant to this prospectus supplement in connection with any forward sale agreement. In addition, the net proceeds from the sale of shares of our common stock in this offering may be used to repay borrowings under our revolving credit agreement (as
defined below) or to repay our or our subsidiaries’ commercial paper borrowings.Because certain Managers, Forward Sellers and Forward Purchasers (or their respective affiliates) are expected to receive part of the net proceeds from the
sale of shares of our common stock in connection with any forward sale agreement, and because certain Managers, Forward Sellers and Forward Purchasers (or their respective affiliates) are lenders under our revolving credit agreement or may hold some
of our or our subsidiaries’ outstanding commercial paper and therefore may receive part of the net proceeds of this offering in the event any of the net proceeds is used to repay any such borrowings, any such Manager, Forward Seller or Forward
Purchaser would be deemed to have a conflict of interest under FINRA

S-19

Rule 5121 to the extent such Manager, Forward Seller