Company: DTG
Filing Date: 2025-12-19
Form Type: 424B5
Source: 0001193125-25-326903
Chunk: 10

Company: DTE ENERGY CO
Filing Date: 2025-12-19
Form: 424B5
Chunk 10
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 that we acquire or own (directly or indirectly) in connection with a 
 spin-off or similar transaction, or (c) of any other type of securities (other than shares of our common stock), rights, warrants or other assets for payment at less than the prevailing market price;      |

| • |     | certain ownership thresholds with respect to our common stock applicable to such Forward Purchaser and its 
 affiliates are exceeded;                                                                                   |

| • |     | an event is announced that if consummated would result in a specified extraordinary event (including certain                                                                                                              
 mergers or tender offers, as well as certain events involving our nationalization, or insolvency) or the occurrence of a delisting of shares of our common stock or a change in law under such forward sale agreement; or |

| • |     | certain other events of default or termination events occur, including, among others, any material                                   
 misrepresentation made in connection with 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 the physical settlement of any forward sale agreement will be made irrespective of our interests, including our need for capital. In such cases, we could be required to issue and deliver shares of our common stock under 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. S-8

We expect that settlement of any forward sale agreement will generally occur no later than the date specified in the particular forward sale agreement. However, any forward sale agreement may be settled earlier than that specified date in whole or in part at our option. Subject to certain conditions, we have the right to elect physical, cash or net share settlement under each forward sale agreement. We intend to physically settle each forward sale agreement by delivery of shares of our common stock. However, we may elect to cash settle or net share settle such forward sale agreement. Delivery of shares of our common stock upon physical settlement (or, if we elect net share settlement of a particular forward sale agreement, upon such settlement to the extent we are obligated to deliver shares of our common stock) will result in dilution to our earnings per share and return on equity. If we elect cash settlement or net share settlement with respect to all or a portion of the number of shares of our common stock underlying a particular forward sale agreement, we expect the applicable Forward Purchaser (or an affiliate thereof) to purchase a number