Company: WELPM
Filing Date: 2025-12-02
Form Type: 424B5
Source: 0001104659-25-117538
Chunk: 27

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-12-02
Form: 424B5
Chunk 27
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 to and should not be offered, sold or otherwise made available to any retail investor in the
United Kingdom (the “UK”). For the purposes of this provision:

| (a) | the expression “retail investor” means a person who is one (or more) of the following: (i) a                                       
 retail client, as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law by virtue      
 of the European Union (Withdrawal) Act 2018, (“EUWA”); (ii) a customer within the meaning of the provisions of the Financial       
 Services and Markets Act 2000, (“FSMA”), and any rules or regulation made under the FSMA to implement Directive (EU)               
 2016/97, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation     
 (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA; or (iii) not a qualified investor as defined in Article 2 
 of Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the EUWA; and                                           |

<div align='center'>S-15</div>

| (b) | the expression “offer” includes the communication in any form and by any means of sufficient                                          
 information on the terms of the offer and the Debentures to be offered so as to enable an investor to decide to purchase or subscribe 
 for the Debentures.                                                                                                                   |

Each underwriter has represented and
agreed that it has only communicated or caused to be communicated and will only communicate or cause to be communicated an invitation
or inducement to engage in investment activity (within the meaning of Section 21 of the FSMA) received by it in connection with the
issue or sale of the Debentures in circumstances in which Section 21(1) of the FSMA does not apply to the Company and it has
complied and will comply with all applicable provisions of the FSMA with respect to anything done by it in relation to the Debentures
in, from or otherwise involving the UK.

<div align='center'>S-16

LEGAL MATTERS</div>

Various legal matters in connection with
the Debentures will be passed upon (a) for us by Troutman Pepper Locke LLP, Atlanta, Georgia, and (