Company: WELPM
Filing Date: 2025-12-03
Form Type: 424B2
Source: 0001104659-25-118058
Chunk: 26

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-12-03
Form: 424B2
Chunk 26
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 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 resale of the Debentures must be made in accordance with an exemption
from, or in a transaction not subject to, the prospectus requirements of applicable securities laws.

Securities legislation in certain provinces
or territories of Canada may provide a purchaser with remedies for rescission or damages if this prospectus supplement (including any
amendment thereto) contains a misrepresentation, provided that the remedies for rescission or damages are exercised by the purchaser within
the time limit prescribed by the securities legislation of the purchaser’s province or territory. The purchaser should refer to
any applicable provisions of the securities legislation of the purchaser’s province or territory for particulars of these rights
or consult with a legal advisor.

Pursuant to section 3A.3 of National
Instrument 33-105 Underwriting Conflicts (“NI 33-105”), the underwriters are not required to comply with
the disclosure requirements of NI 33-105 regarding underwriter conflicts of interest in connection with this offering.

European Economic Area

The Debentures are not intended to be
offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the
European Economic Area. 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 in point (11) of Article  4(1) of Directive 2014/65/EU(as amended or superseded, “MiFID II”); (ii) a customer                
 within the meaning of Directive (EU) 2016/97 (as amended, the “Insurance Distribution Directive”), where that customer would 
 not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified          
 investor as defined in Regulation (EU) 2017/