Company: WELPM
Filing Date: 2025-09-19
Form Type: 424B2
Source: 0001104659-25-091569
Chunk: 24

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-09-19
Form: 424B2
Chunk 24
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 benefit plan trusts. Associated Investment Services, Inc., a member of the FINRA
and a subsidiary of Associated Banc-Corp, is being paid a referral fee by Independence Point Securities LLC.

<div align='center'>S-14</div>

Conflicts of Interest

Certain of the underwriters or their
affiliates may hold a portion of the short-term debt that we intend to repay using all or a portion of the net proceeds of the Debentures.
In such event, it is possible that one or more of the underwriters or their affiliates could receive at least 5% of the net proceeds of
the offering, and in that case such underwriter would be deemed to have a conflict of interest under FINRA Rule 5121 (Public Offerings
of Securities with Conflicts of Interest). In the event of any such conflict of interest, such underwriter would be required to conduct
the distribution of the Debentures in accordance with FINRA Rule 5121. If FINRA Rule 5121 is applicable, such underwriter would
not be permitted to confirm a sale to an account over which it exercises discretionary authority without first receiving specific written
approval from the account holder.

Notices to Prospective Investors

This prospectus supplement and the accompanying
prospectus do not constitute an offer to sell to, or a solicitation of an offer to buy from, anyone in any country or jurisdiction (i) in
which such an offer or solicitation is not authorized, (ii) in which any person making such offer or solicitation is not qualified
to do so or (iii) in which any such offer or solicitation would otherwise be unlawful. No action has been taken that would, or is
intended to, permit a public offer of the Debentures or possession or distribution of this prospectus supplement or the accompanying prospectus
or any other offering or publicity material relating to the Debentures in any country or jurisdiction (other than the United States) where
any such action for that purpose is required.

Selling Restrictions

Canada

The Debentures may be sold in Canada
only to purchasers purchasing, or deemed to be purchasing, as principal that are accredited investors, as defined in National Instrument 45-106 Prospectus
Exemptions or subsection 73.3(1) of the Securities Act (Ontario), and are permitted clients, as defined in National Instrument 31-103 Registration
Requirements, Exemptions and Ongoing Registrant Obligations. Any