Company: WELPM
Filing Date: 2025-12-03
Form Type: 424B2
Source: 0001104659-25-118058
Chunk: 24

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-12-03
Form: 424B2
Chunk 24
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, will be approximately $930,000.

We expect to deliver the Debentures against
payment for the Debentures on or about the date specified in the last paragraph on the cover page of this prospectus supplement,
which will be the third business day following the date of the pricing of the Debentures (this settlement cycle being referred to as “T+3”).
Under Rule 15c6-1 under the Exchange Act, trades in the secondary market generally are required to settle in one business day, unless
the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade Debentures on the date of pricing or
the next succeeding business day will be required, by virtue of the fact that the Debentures initially will settle in T+3, to specify
alternate settlement arrangements to prevent a failed settlement. Purchasers of the Debentures who wish to trade the Debentures on the
date of pricing or the next succeeding business day should consult their own advisors.

The underwriters and their respective
affiliates are full service financial institutions engaged in various activities, which may include securities trading, commercial and
investment banking, financial advisory, investment management, principal investment, hedging, financing and brokerage activities. In the
ordinary course of their respective businesses, certain of the underwriters and their affiliates have provided, currently provide and
may in the future provide, investment banking, commercial banking, advisory and other services for us and our affiliates, for which they
received and will receive customary fees and expenses. Affiliates of each of the book-running managers are lenders under our existing
$800 million revolving credit facility.

In the
ordinary course of their various business activities, the underwriters and their respective affiliates may make or hold a broad
array of investments, including serving as counterparties to certain derivative hedging arrangements, and actively trade debt and
equity securities (or related derivative securities) and financial instruments (including bank loans) for their own account and for
the accounts of their customers. Such investment and securities activities may involve securities and instruments of Wisconsin
Electric and its affiliates. Certain of the underwriters or their respective affiliates that have a lending relationship with us
routinely hedge, and certain other of those underwriters or their respective affiliates may hedge, their credit exposure to us
consistent with their customary risk management policies. Typically, such underwriters and their affiliates would hedge such
exposure by entering into transactions which consist of either the purchase of credit default swaps or