Company: WELPM
Filing Date: 2025-09-19
Form Type: 424B2
Source: 0001104659-25-091569
Chunk: 22

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-09-19
Form: 424B2
Chunk 22
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distributing the Debentures in the offering, if the underwriters repurchase previously distributed Debentures in transactions to
cover syndicate short positions, in stabilization transactions or otherwise. Any of these activities may stabilize or maintain the
market price of the Debentures above independent market levels. The underwriters are not required to engage in these activities and
may end any of these activities at any time. These transactions may be effected in the over-the- counter market or otherwise.

<div align='center'>S-13</div>

The underwriters also may impose a penalty
bid. This occurs when a particular underwriter repays to the underwriters a portion of the underwriting discount received by it because
the representatives have repurchased Debentures sold by or for the account of such underwriter in stabilizing or short covering transactions.

The Debentures are a new issue of debt
securities with no established trading market. We have been advised by the underwriters that they intend to make a market in the Debentures,
but they are not obligated to do so and may discontinue market making at any time without notice. We cannot assure you as to the liquidity
of the trading market for the Debentures.

We estimate that our total expenses for
this offering, not including the underwriting discount, will be approximately $1.4 million.

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 fifth business day following the date of the pricing of the Debentures (this settlement cycle being referred to as “T+5”).
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 three (3) succeeding business days will be required, by virtue of the fact that the Debentures initially will settle in
T+5, 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 three (3) succeeding business days 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