Company: WELPM
Filing Date: 2025-09-18
Form Type: 424B5
Source: 0001104659-25-091050
Chunk: 12

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-09-18
Form: 424B5
Chunk 12
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 the Debentures are
to be accomplished by entries made on the books of Direct and Indirect Participants acting on behalf of Beneficial Owners.
Beneficial Owners will not receive certificates representing their ownership interests in the Debentures, except in the event that
use of the book-entry system for the Debentures is discontinued.

To facilitate subsequent transfers, all
Debentures deposited by Direct Participants with DTC are registered in the name of DTC’s partnership nominee, Cede & Co.,
or such other name as may be requested by an authorized representative of DTC. The deposit of the Debentures with DTC and their registration
in the name of Cede & Co. or such other DTC nominee do not effect any changes in beneficial ownership. DTC has no knowledge of
the actual Beneficial Owners of the Debentures. DTC’s records reflect only the identity of the Direct Participants to whose accounts
such Debentures are credited, which may or may not be the Beneficial Owners. The Direct and Indirect Participants will remain responsible
for keeping account of their holdings on behalf of their customers.

Conveyance of notices and other communications
by DTC to Direct Participants, by Direct Participants to Indirect Participants, and by Direct Participants and Indirect Participants to
Beneficial Owners will be governed by arrangements among them, subject to any statutory or regulatory requirements as may be in effect
from time to time.

Redemption notices will be sent to DTC.
If less than all the Debentures are being redeemed, DTC’s practice is to determine by lot the amount of the interest of each Direct
Participant in such Debentures to be redeemed.

Neither DTC nor Cede & Co. (nor
any other DTC nominee) will consent or vote with respect to the Debentures unless authorized by a Direct Participant in accordance with
DTC’s procedures. Under its usual procedures, DTC mails an Omnibus Proxy to us as soon as possible after the record date. The Omnibus
Proxy assigns Cede & Co.’s consenting or voting rights to those Direct Participants to whose accounts the Debentures are
credited on the record date (identified in a listing attached to the Omnibus Proxy).

Payments on the Debentures will be made
to Cede & Co., or such other nominee as may be requested by an authorized representative of DTC. DTC’s practice is to credit
Direct Participants’ accounts upon DTC’s receipt of funds and corresponding detail information from us