Document:

EX-10.2

 Exhibit 10.2 

FORM OF PARENT SUPPORT AGREEMENT 

THIS SUPPORT AGREEMENT (this “Agreement”), dated as of September [•], 2022, is entered into by and among EnVen Energy
Corporation, a Delaware corporation (the “Company”), Talos Energy Inc., a Delaware corporation (“Parent”) and each stockholder of Parent set forth on Schedule 1 attached hereto (each, a
“Stockholder” and collectively, the “Stockholders”). Capitalized terms used but not otherwise defined in this Agreement shall have the meanings ascribed to them in the Merger Agreement (as defined below). 

RECITALS 
 WHEREAS, the
Company, Parent, Talos Production Inc., a Delaware corporation and an indirect wholly-owned subsidiary of Parent (“Production Company”), Tide Merger Sub I Inc., a Delaware corporation and a direct wholly-owned subsidiary of Parent
(“Merger Sub I”), Tide Merger Sub II LLC, a Delaware limited liability company and a direct wholly-owned subsidiary of Parent, Tide Merger Sub III LLC, a Delaware limited liability company and a direct wholly-owned subsidiary of
Production Company, and the Equityholders’ Representative (as defined in the Merger Agreement), have entered into an Agreement and Plan of Merger (as amended, supplemented, restated or otherwise modified from time to time, the “Merger
Agreement”), pursuant to which (and subject to the terms and conditions set forth therein), among other things, Merger Sub I will merge with and into the Company, with the Company surviving such merger (the “First Merger,”
and together with the other transactions contemplated by the Merger Agreement, the “Transactions”); 
 WHEREAS, as of the
date hereof, each Stockholder is the record and “beneficial owner” (within the meaning of Rule 13d-3 under the Exchange Act) of and is entitled to dispose of and vote the number of shares of Parent
Common Stock set forth opposite such Stockholder’s name on Schedule 1 attached hereto (as applicable to such Stockholder, the “Owned Shares”; the Owned Shares and any additional shares of Parent Common
Stock (or any securities convertible into or exercisable or exchangeable for shares of Parent Common Stock) in which the Stockholder acquires record and beneficial ownership after the date hereof, including by purchase, as a result of a stock
dividend, stock split, recapitalization, combination, reclassification, exchange or change of such shares, or upon exercise or conversion of any securities, and as applicable to such Stockholder, the “Covered Shares”); and 

WHEREAS, concurrently with the execution of the Merger Agreement, the Stockholders are entering into this Agreement. 

AGREEMENT 
 NOW,
THEREFORE, in consideration of the foregoing and the mutual covenants and agreements herein contained, and intending to be legally bound hereby, the Company, Parent and the Stockholders hereby agree as follows: 

1. Agreement to Vote. Prior to the Termination Date (as defined herein), each Stockholder, solely in its capacity as a stockholder of
Parent, irrevocably and unconditionally agrees that, at any meeting of the stockholders of the Company (whether annual or special and whether or not an adjourned or postponed meeting, however called and including any adjournment or postponement
thereof, and, for avoidance of doubt, including the Special Meeting) and in connection with any written consent of the stockholders of Parent, the Stockholder shall, and shall cause any other holder of record of any of the Stockholder’s Covered
Shares to: 

 (a) appear at such meeting or otherwise cause the Stockholder’s Covered
Shares to be counted as present thereat for the purpose of establishing a quorum; 
 (b) vote (or execute and return an
action by written consent), or cause to be voted at such meeting in person or by proxy (or validly execute and return and cause such consent to be granted with respect to), all of the Stockholder’s Covered Shares owned as of the record date for
such meeting (or the date that any written consent is executed by the Stockholder) in favor of (i) approving the issuance of Parent Common Stock to the holders of Class A Common Shares of the Company pursuant to the NYSE listing rules,
(ii) approving the amendment and/or restatement of the Parent Organizational Documents as necessary or appropriate to reflect the Stockholders’ Agreement Termination (as defined below) and (iii) any other proposals agreed to by Parent
and the Company which are necessary or appropriate in connection with the Transactions or to effectuate the intent of the foregoing clauses (i) and (ii); and 

(c) vote (or execute and return an action by written consent), or cause to be voted at such meeting in person or by proxy (or
validly execute and return and cause such consent to be granted with respect to), all of the Stockholder’s Covered Shares against (i) any Acquisition Proposal with respect to Parent and (ii) any other action, proposal, transaction or
agreement that could reasonably be expected to (A) materially impede, interfere with, delay, postpone or materially and adversely affect the First Merger or any of the other Transaction, (B) result in a material breach of any covenant,
representation or warranty or other obligation or agreement of Parent under the Merger Agreement, or (C) result in a material breach of any covenant, representation or warranty or other obligation or agreement of the Stockholder contained in
this Agreement. 
 The obligations of each Stockholder specified in this Section 1 shall apply whether or not the
First Merger or any action described above is recommended by the Parent Board or the Parent Board has effected a Parent Change in Recommendation. 

2. No Inconsistent Agreements. Each Stockholder hereby covenants and agrees that the Stockholder shall not, at any time prior to the
Termination Date, (i) enter into any voting agreement or voting trust with respect to any of the Stockholder’s Covered Shares that is materially inconsistent with the Stockholder’s obligations pursuant to this Agreement,
(ii) grant a proxy or power of attorney with respect to any of the Stockholder’s Covered Shares that is materially inconsistent with the Stockholder’s obligations pursuant to this Agreement, or (iii) enter into any agreement or
undertaking that is otherwise materially inconsistent with, or would interfere with, or prohibit or prevent it from satisfying, its obligations pursuant to this Agreement. 

  
 2 

 3. Termination. This Agreement shall terminate immediately and automatically, and be
of no further force and effect, without any notice or other action by any Person, upon the earliest of (i) the First Effective Time, (ii) the termination of the Merger Agreement in accordance with its terms, (iii) any amendment to the
Merger Agreement that materially reduces the economic benefits to any Stockholder contemplated thereby as of the date hereof and (iv) the time this Agreement is terminated upon the mutual written agreement of each of the parties hereto (the
earliest such date under clause (i), (ii), (iii) and (iv) being referred to herein as the “Termination Date”); provided, that the provisions set forth in Sections 15 to 21 shall survive the
termination of this Agreement; provided further, that if the First Effective Time occurs on or prior to the Termination Date, the provisions set forth in Sections 7(c) and 10 shall survive the termination of
this Agreement pursuant to clause (i) and, in the case of Section 7(c), shall continue in effect until expiry of the Lock-up Period; and provided further, that termination
of this Agreement shall not relieve any party hereto from any liability for any Willful Breach of this Agreement prior to such termination. 

4. Representations and Warranties of the Stockholders. Each Stockholder hereby represents and warrants to Parent and the Company as to
itself as follows: 
 (a) The Stockholder is the only record and “beneficial owner” (within the meaning of Rule 13d-3 under the Exchange Act) of, and has good, valid and marketable title to, the Covered Shares, free and clear of Liens other than Liens as created by this Agreement, Liens to which the Covered Shares and
Stockholder are subject pursuant to the Parent Organizational Documents and Liens to which the Covered Shares and Stockholder are subject pursuant to the Stockholders’ Agreement. As of the date hereof, other than the Owned Shares, the
Stockholder does not own beneficially or of record any shares of capital stock of Parent (or any securities exercisable for or convertible into shares of capital stock of Parent) or any interest therein. 

(b) The Stockholder is not a “foreign person” or “foreign entity” (as defined in Section 721 of the
Defense Production Act of 1950, as amended, including all implementing regulations thereof). The Stockholder is not controlled, in whole or in part, by a “foreign person” (as defined in Section 721 of the Defense Production Act of
1950, as amended, including all implementing regulations thereof). 
 (c) The Stockholder (i) except as provided in this
Agreement, has full voting power, full power of disposition and full power to issue instructions with respect to the matters set forth herein, in each case, with respect to the Stockholder’s Covered Shares, (ii) has not entered into any
voting agreement, voting trust or other similar agreement, arrangement or restriction with respect to any of the Stockholder’s Covered Shares other than this Agreement, (iii) has not granted a proxy or power of attorney with respect to any
of the Stockholder’s Covered Shares that is inconsistent with the Stockholder’s obligations pursuant to this Agreement, (iv) other than the Parent Organizational Documents, is not party to any agreements or arrangements of any kind,
contingent or otherwise, obligating the Stockholder to sell, transfer, pledge, encumber, assign, hedge, swap, convert or otherwise dispose of (including by merger (including by conversion into securities or other consideration), by tendering into
any tender or exchange offer, by testamentary disposition, by operation of Law or otherwise), either voluntarily or involuntarily (collectively, “Transfer”), any or all of the Stockholder’s Covered Shares or any interest
therein, and (v) has not entered into any agreement or undertaking that is otherwise inconsistent with, or would reasonably be expected to interfere with, or prohibit or prevent it from satisfying, its obligations pursuant to this Agreement.
Except as contemplated by the Transactions or as set forth in the Parent Organizational Documents, no Person has any contractual or other right or obligation to purchase or otherwise acquire any of the Stockholder’s Covered Shares. 

  
 3 

 (d) The Stockholder (i) is a legal entity duly organized, validly
existing and, to the extent such concept is applicable, in good standing under the Applicable Laws of the jurisdiction of its organization, and (ii) has all requisite corporate or other power and authority and has taken all corporate or other
action necessary in order to, execute, deliver and perform its obligations under this Agreement and to consummate the transactions contemplated hereby and no other organizational proceedings on the part of the Stockholder are necessary to approve
this Agreement and to perform its obligations hereunder. This Agreement has been duly authorized, executed and delivered by the Stockholder and, assuming the Agreement is the valid and legally binding agreement of each of the other parties hereto,
constitutes a legal, valid and binding agreement of the Stockholder enforceable against the Stockholder in accordance with its terms, subject to the Remedies Exception. 

(e) No filings, notices, reports, consents, registrations, approvals, permits, waivers, expirations of waiting periods or
authorizations are required to be obtained by the Stockholder from, or to be given by the Stockholder to, or be made by the Stockholder with, any Governmental Authority or any other Person in connection with the execution, delivery and performance
by the Stockholder of this Agreement and the consummation of the transactions contemplated hereby, in each case other than as contemplated hereby. 

(f) The execution, delivery and performance of this Agreement by the Stockholder do not, and the consummation of the
transactions contemplated hereby will not, (i) constitute or result in a breach or violation of, or a default under, the governing documents of the Stockholder, or (ii) constitute or result in, with or without notice, lapse of time or
both, a breach or violation of, a termination (or right of termination) of or a default under, the loss of any benefit under, the creation, modification or acceleration of any obligations under or the creation of a Lien on any of the properties,
rights or assets of the Stockholder, or the Covered Shares, pursuant to any Contract binding upon the Stockholder or, assuming (solely with respect to performance of this Agreement and the transactions contemplated hereby), compliance with the
matters referred to in Section 4(e), under any Applicable Law to which the Stockholder is subject or any change in the rights or obligations of any party under any Contract legally binding upon the Stockholder, except, in
the case of clause (ii) directly above, for any such breach, violation, termination, default, creation, acceleration or change that would not, individually or in the aggregate, reasonably be expected to prevent or materially delay or impair the
Stockholder’s ability to perform its obligations hereunder or to consummate the transactions contemplated hereby. 
 (g)
As of the date of this Agreement, there is no action, proceeding or investigation pending against the Stockholder or, to the knowledge of the Stockholder, threatened against the Stockholder that questions the beneficial or record ownership of the
Stockholder’s Owned Shares, the validity of this Agreement or the performance by the Stockholder of its obligations under this Agreement that seeks to delay or prevent the Stockholder from performing, or that would reasonably be expected to
impair the ability of the Stockholder to perform, its obligations under this Agreement or to consummate the transactions contemplated by this Agreement on a timely basis. 

  
 4 

 (h) No investment banker, broker, finder or other intermediary is entitled
to any broker’s, finder’s, financial advisor’s or other similar fee or commission in connection with the transactions contemplated hereby and by the Merger Agreement based upon arrangements made by or, to the knowledge of the
Stockholder, on behalf of the Stockholder. 
 5. Representations and Warranties of Parent. Parent hereby represents and warrants to
each Stockholder and the Company as follows: 
 (a) Parent (i) is a legal entity duly organized, validly existing and in
good standing under the Applicable Laws of the state of Delaware, and (ii) has all requisite company power and authority and has taken all company action necessary in order to, execute, deliver and perform its obligations under this Agreement
and to consummate the transactions contemplated hereby. This Agreement has been duly executed and delivered by Parent and, assuming the Agreement is the valid and legally binding agreement of each of the other parties hereto, constitutes a legal,
valid and binding agreement of Parent enforceable against Parent in accordance with its terms, subject to the Remedies Exception. 

(b) Other than the filings, notices and reports pursuant to, in compliance with or required to be made under the Exchange Act
and the consents and approvals described in Sections 4.04 and 4.05 of the Merger Agreement, no filings, notices, reports, consents, registrations, approvals, permits, waivers, expirations of waiting periods or authorizations are required to be
obtained by Parent from, or to be given by Parent to, or be made by Parent with, any Governmental Authority or any other Person in connection with the execution, delivery and performance by Parent of this Agreement and the consummation of the
transactions contemplated hereby, except for any such filing, notice, report, consent, registration, approval, permit, waiver, expiration or authorization that would not, individually or in the aggregate, reasonably be expected to prevent or
materially delay or impair the ability of Parent to perform its obligations hereunder or to consummate the transactions contemplated hereby. 

(c) The execution, delivery and performance of this Agreement by Parent do not, and the consummation of the transactions
contemplated hereby will not, constitute or result in (i) a breach or violation of, or a default under, the Parent Organizational Documents, or (ii) with or without notice, lapse of time or both, a breach or violation of, a termination (or
right of termination) of or a default under, the loss of any benefit under, the creation, modification or acceleration of any obligations under or the creation of a Lien on any of the properties, rights or assets of Parent pursuant to any Contract
binding upon Parent, or, assuming (solely with respect to performance of this Agreement and the transactions contemplated hereby), compliance with the matters referred to in Section 5(b), under any Applicable Law to which
Parent is subject or any change in the rights or obligations of any party under any Contract legally binding upon Parent, except, in the case of clause (ii) directly above, for any such breach, violation, termination, default, creation,
acceleration or change that would not, individually or in the aggregate, reasonably be expected to prevent or materially delay or impair Parent’s ability to perform its obligations hereunder or to consummate the transactions contemplated
hereby. 

  
 5 

 6. Representations and Warranties of the Company. The Company hereby represents and
warrants to each Stockholder and Parent as follows: 
 (a) The Company (i) is a legal entity duly organized, validly
existing and in good standing under the Applicable Laws of the state of Delaware, and (ii) has all requisite company power and authority and has taken all company action necessary in order to, execute, deliver and perform its obligations under
this Agreement and to consummate the transactions contemplated hereby. This Agreement has been duly executed and delivered by the Company and, assuming the Agreement is the valid and legally binding agreement of each of the other parties hereto,
constitutes a legal, valid and binding agreement of the Company enforceable against the Company in accordance with its terms, subject to the Remedies Exception. 

(b) Other than the filings, notices and reports pursuant to, in compliance with or required to be made under the Exchange Act
and the consents and approvals described in Sections 3.04 and 3.05 of the Merger Agreement, no filings, notices, reports, consents, registrations, approvals, permits, waivers, expirations of waiting periods or authorizations are required to be
obtained by the Company from, or to be given by the Company to, or be made by the Company with, any Governmental Authority or any other Person in connection with the execution, delivery and performance by the Company of this Agreement and the
consummation of the transactions contemplated hereby, except for any such filing, notice, report, consent, registration, approval, permit, waiver, expiration or authorization that would not, individually or in the aggregate, reasonably be expected
to prevent or materially delay or impair the ability of the Company to perform its obligations hereunder or to consummate the transactions contemplated hereby. 

(c) The execution, delivery and performance of this Agreement by the Company does not, and the consummation of the transactions
contemplated hereby will not, constitute or result in (i) a breach or violation of, or a default under, the Company Organizational Documents, or (ii) with or without notice, lapse of time or both, a breach or violation of, a termination
(or right of termination) of or a default under, the loss of any benefit under, the creation, modification or acceleration of any obligations under or the creation of a Lien on any of the properties, rights or assets of the Company pursuant to any
Contract binding upon the Company, or, assuming (solely with respect to performance of this Agreement and the transactions contemplated hereby), compliance with the matters referred to in Section 6(b), under any Applicable
Law to which the Company is subject or any change in the rights or obligations of any party under any Contract legally binding upon the Company, except, in the case of clause (ii) directly above, for any such breach, violation, termination,
default, creation, acceleration or change that would not, individually or in the aggregate, reasonably be expected to prevent or materially delay or impair the Company’s ability to perform its obligations hereunder or to consummate the
transactions contemplated hereby. 

  
 6 

 7. Certain Covenants of the Stockholders. Except in accordance with the terms of this
Agreement, each Stockholder hereby covenants and agrees as follows: 
 (a) No Solicitation. 

(i) Subject to Section 7(a)(ii), prior to the Termination Date, the Stockholder shall not, and shall
cause its controlled Affiliates and Subsidiaries not to and shall use its reasonable best efforts to cause its and their respective Representatives acting on their respective behalf, not to, directly or indirectly: (A) initiate, solicit or
knowingly encourage or knowingly facilitate any inquiries or requests for information with respect to, or the making of, any inquiry regarding, or any proposal or offer that constitutes, or would reasonably be expected to result in or lead to, any
Acquisition Proposal with respect to Parent; (B) engage in, continue or otherwise participate in any negotiations or discussions concerning, or provide access to its properties, books and records or any confidential information or data to, any
Person relating to any proposal, offer, inquiry or request for information that constitutes, or would reasonably be expected to result in or lead to, any Acquisition Proposal with respect to Parent; (C) approve, endorse or recommend, or propose
publicly to approve, endorse or recommend, any Acquisition Proposal with respect to Parent; (D) execute or enter into, any letter of intent, memorandum of understanding, agreement in principle, confidentiality agreement, merger agreement,
acquisition agreement, exchange agreement, joint venture agreement, partnership agreement, option agreement or other similar agreement for or relating to any Acquisition Proposal with respect to Parent; or (E) resolve or agree to do any of the
foregoing. The Stockholder agrees that immediately following the execution of this Agreement it shall, and shall cause each of its controlled Affiliates and Subsidiaries and shall use its reasonable best efforts to cause its and their
Representatives acting on its or their respective behalf to, cease any solicitations, discussions or negotiations with any Person (other than the Company and its Representatives) conducted heretofore in connection with an Acquisition Proposal with
respect to Parent or any inquiry or request for information that would reasonably be expected to lead to, or result in, an Acquisition Proposal with respect to Parent. The Stockholder shall promptly (and in any event within two Business Days)
notify, in writing, the Company of the receipt by the Stockholder in such capacity of any inquiry, proposal, offer or request for information received after the date hereof that constitutes, or would reasonably be expected to result in or lead to,
any Acquisition Proposal with respect to Parent, which notice shall include the identity of the Person or group of Persons making, such inquiry, proposal, offer or request for information and, with respect to any such proposal or offer, a summary of
the material terms of, and an unredacted copy of any proposed definitive agreement, proposal or offer made in writing or, if not in writing, a written description of the material terms and conditions of such proposal or offer (and shall include any
other material documents evidencing or specifying the terms of such proposal or offer or, to the extent applicable, inquiry). To the extent the Stockholder is prohibited by a non-disclosure or confidentiality
agreement entered into prior to the date hereof from providing the information set forth in the preceding sentence, the Stockholder shall not be required to provide the 

  
 7 

 
Company with the identity of the Person(s) from which such expression of interest, inquiry or proposal was received. The Stockholder shall not enter into any confidentiality agreement with any
Person after the date of this Agreement that prohibits it from complying with the foregoing obligations. Nothing in this Section 7(a) shall prohibit Stockholder or its Representatives from informing any Person of the
existence of the provisions contained in this Section 7(a). 
 (ii) Notwithstanding anything in
this Agreement to the contrary, the Stockholder shall be entitled to review any Acquisition Proposal with respect to Parent, received by Parent after the date hereof that did not result from a breach of Section 5.04 of the Merger Agreement and
shared with the Stockholder, and, solely to the extent the Parent Board has made the determinations set forth in Section 5.04(c) of the Merger Agreement, to discuss and confirm with Parent the willingness of the Stockholder to support, or lack
thereof, such Acquisition Proposal in the event the Merger Agreement is terminated. 
 (b) Transfers. Each Stockholder
hereby agrees not to, directly or indirectly, Transfer or enter into any Contract or option with respect to the Transfer of any of the Stockholder’s Covered Shares, or take any action that would make any representation or warranty of the
Stockholder contained herein untrue or incorrect in any material respect or have the effect of preventing or disabling the Stockholder from performing its obligations under this Agreement in any material respect; provided, however, that
nothing herein shall prohibit a Transfer to an Affiliate of the Stockholder (a “Permitted Transfer”) or a Transfer consented to by Parent and the Company; provided, further, that any Permitted Transfer shall be permitted only
if, as a precondition to such Transfer, the transferee agrees in a writing, reasonably satisfactory in form and substance to Parent and the Company, to assume all of the obligations of the Stockholder under, and be bound by all of the terms of, this
Agreement; provided, further, that any Transfer permitted under this Section 7(b) shall not relieve the Stockholder of its obligations under this Agreement. Any Transfer in violation of this
Section 7(b) with respect to the Stockholder’s Covered Shares shall be null and void ab initio. 

(c) Lock-up Agreement. Each Stockholder hereby agrees not to, during the period
beginning on the Closing Date and ending on the later of the date that is (i) sixty (60) days after the Closing Date and (ii) the date that a Shelf Registration Statement (as defined in the New RRA (as defined below)) filed pursuant to
Section 2.01(a) of the New RRA becomes effective (the “Lock-up Period”), (A) lend; offer; sell; contract to sell; sell any option or contract to purchase; purchase any option or contract
to sell; grant any option, right, or warrant to purchase; or otherwise transfer or dispose of, in each case whether effected directly or indirectly, any Covered Shares, (B) enter into any swap or other arrangement that transfers to another, in
whole or in part, any of the economic consequences of ownership of such securities, whether any such transaction described in clause (A) or clause (B) above is to be settled by delivery of Covered Shares or other securities, in cash, or
otherwise or (C) publicly announce the intention to effect any of the transactions covered in clause (A) and clause (B) above; provided that the Stockholder may enter into a trading plan pursuant to Rule 10b5-1 under the Exchange Act for the transfer of Covered Shares so long as such plan does not provide for the transfer of Covered Shares 

  
 8 

 
during the Lock-Up Period; provided further, that nothing herein shall prohibit the Stockholder from (1) pledging any Covered Shares in
connection with the Stockholder’s entry into a credit facility or any other bona fide borrowing or similar lending arrangement, which shall include margin loans (provided, that for the avoidance of doubt, any pledgee who receives such Covered
Shares following the exercise of remedies shall not be subject to the restrictions set forth in this Section 7(c)), (2) transferring any Covered Shares as a distribution or transfer to general partners, limited partners,
members or stockholders of the Stockholder, (3) transferring any Covered Shares to any corporation, partnership, limited liability company, investment fund or other entity which controls or manages or is controlled or managed by the
Stockholder, or to any Affiliate under common control or management with the Stockholder, (4) transferring any Covered Shares in connection with the completion of a liquidation, merger, stock exchange or other similar transaction that results
in all of Parent’s securityholders having the right to exchange their shares of Parent Common Stock for cash, securities or other property, (5) (x) transfers of Covered Shares pursuant to a bona fide third-party tender offer for shares of the
Parent’s capital stock made to all holders of Parent’s securities or pursuant to a merger, consolidation or other similar transaction approved by the Parent Board the result of which is that any person (as defined in Section 13(d)(3)
of the Exchange Act), or group of persons, other than Parent, becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 of the Exchange Act) of more than 50% of
the total voting power of the voting stock of Parent and (y) entry into any lock-up, voting or similar agreement pursuant to which the Stockholder may agree to transfer, sell, tender or otherwise dispose
of shares of Parent Common Stock or such other securities in connection with a transaction described in the immediately foregoing clause (x) above (provided that, in the event that such change of control transaction is not completed, any
Covered Shares shall remain subject to the restrictions contained this Section 7(c)), or (6) by operation of law or pursuant to a final order of a court or regulatory agency; provided further, that, in the case
of the foregoing clauses (1) through (3), (I) each such transferee agrees to be bound in writing by the restrictions set forth in this Section 7(c), (II) any such transfer shall not involve a disposition for value and
(III) no public filing or public disclosure shall be required or voluntarily made during the Lock-up Period in connection with any such transfer (other than required filings under Sections 13(d) or 13(g)
or Section 16 of the Exchange Act). Each Stockholder agrees and consents to the entry of stop transfer instructions with Parent’s transfer agent and registrar against the transfer of Covered Shares except in compliance with the foregoing
restrictions. Notwithstanding the foregoing, to the extent all or any portion of Section 5.05 of the New RRA is waived by Parent with respect to any Major Holder (which, prior to the effectiveness of the Shelf Registration Statement under the
New RRA, may only occur following the written request or consent of a Bain Entity), then the corresponding provisions of this Section 7(c) shall automatically be deemed to be waived with respect to each Stockholder to the same extent as waived
with respect to such Major Holder. 
 (d) Irrevocable Proxy. In order to secure the obligations set forth herein, each
Stockholder hereby irrevocably appoints the Company, or any nominee thereof, with full power of substitution and resubstitution, as its true and lawful proxy
and attorney-in-fact, only in the event that such Stockholder does not comply with its obligations in Section 1, to vote or execute
written consents with respect to the Stockholder’s Covered Shares in accordance with Section 1 and with respect to any proposed postponements or 

  
 9 

 
adjournments of any meeting of the stockholders of Parent at which any of the matters described in Section 1 are to be considered, including the Special Meeting. Each
Stockholder hereby affirms that this proxy is coupled with an interest and shall be irrevocable, except upon termination of this Agreement, and the Stockholder will take such further action or execute such other instruments as may be necessary to
effectuate the intent of this proxy and hereby revokes any proxy previously granted by such Stockholder with respect to any of its Covered Shares that is materially inconsistent with the Stockholder’s obligations pursuant to this Agreement.
This proxy shall be revoked automatically upon the termination of this Agreement pursuant to Section 3, and the Company may terminate this proxy at any time at its sole election by written notice provided to such
Stockholder. 
 (e) No Short Sales. Each Stockholder agrees that, from the date of this Agreement to and including the
date of the termination of this Agreement, none of the Stockholder nor any person or entity acting on behalf of the Stockholder or pursuant to any understanding with the Stockholder will engage in any Short Sales with respect to securities of
Parent. For the purposes hereof, “Short Sales” shall mean all “short sales” as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act, and all short positions effected through any direct or indirect
stock pledges (other than pledges in the ordinary course of business as part of prime brokerage arrangements), forward sale contracts, options, puts, calls, swaps and similar arrangements (including on a total return basis), or sales or other short
transactions through non-U.S. broker dealers or foreign regulated brokers. 
 (f)
Each Stockholder hereby authorizes the Company to maintain a copy of this Agreement at either the executive office or the registered office of the Company. 

8. Priority of Certain Registration Rights. Upon the effectiveness of the Registration Rights Agreement (in the form attached to the
Merger Agreement and without giving effect to any amendments thereto after such effectiveness, the “New RRA”) to be entered into by certain existing stockholders (the “New RRA Holders”) of the Company in connection
with the Transactions, the Stockholder agrees that, notwithstanding any preexisting priority rights it may have pursuant to the terms of any existing agreement or arrangement with Parent (including, for avoidance of doubt, the Registration Rights
Agreement, dated as of May 10, 2018, by and among Parent and the other parties thereto (the “Existing RRA”)), in the event of any proposed underwritten offering of Parent securities initiated by a New RRA Holder as contemplated
by Section 2.03(a) of the New RRA or in which a New RRA Holder has the right to include any of its securities of Parent as contemplated by Section 2.03(c) of the New RRA, the allocation of securities of Parent to be included in such
underwritten offering shall, as between the Stockholder and its Affiliates, on the one hand, and the New RRA Holders, on the other hand, be made on a proportional basis. For avoidance of doubt, the “proportional basis” referred to in the
preceding sentence with respect to the allocation provisions of Section 2.03(b) and/or 2.03(c) of the New RRA shall be interpreted as if the Stockholder and its Affiliates are “selling Other RRA Holders” as defined in, and
contemplated by, the New RRA, and any “Registrable Securities” (as defined in the Existing RRA) of the Stockholder and its Affiliates shall be treated, solely for the purposes of interpreting such provisions, as “registrable shares of
Common Stock” as contemplated by the New RRA. 

  
 10 

 9. HSR Act. Each Stockholder will use reasonable best efforts to cooperate with the
Company and Parent with respect to any notification form required pursuant to the HSR Act in connection with the Transactions, including with respect to providing information requested by any Governmental Authority with respect thereto. The parties
hereto agree that all filing fees associated with filings made with Governmental Authorities pursuant to this Section 9 shall be treated as Transaction Expenses under the Merger Agreement, subject to applicable limitations
set forth in the Merger Agreement. 
 10. Termination of Stockholders’ Agreement. Each Stockholder hereby agrees to
execute and deliver such additional documents and take all such further action as may be reasonably necessary to cause: (a) the Stockholders’ Agreement, dated May 10, 2018, as amended and currently in effect, among Parent and each of
the other parties set forth on the signature pages thereto (the “Stockholders’ Agreement”) to be terminated (the “Stockholders’ Agreement Termination”) without any further
force and effect effective no later than immediately prior to the First Effective Time; and (b) the then-sitting Riverstone Director (as defined in the Stockholders’ Agreement) to resign or be removed from the Parent Board no later than
immediately prior to the First Effective Time, which in each case the Stockholder may cause to be contingent upon the occurrence of the First Effective Time, and the Stockholder hereby agrees to the waiver of any rights of first refusal, preemptive
rights, rights of co-sale, and registration rights with respect to the Transactions to the extent any such rights heretofore existed pursuant to the Stockholders’ Agreement. 

11. Further Assurances; Waiver of Appraisal Rights. From time to time, at Parent’s or the Company’s request and without
further consideration, each Stockholder shall execute and deliver such additional documents and take all such further action as may be reasonably necessary or reasonably requested to effect the actions and consummate the transactions contemplated by
this Agreement and the Merger Agreement. Each Stockholder further agrees, without limiting remedies for fraud, not to commence or participate in, and to take all actions reasonably necessary to opt out of any class in any class action with respect
to, any action or claim, derivative or otherwise, against Parent, the Company or any of their respective Affiliates, successors and assigns relating to the negotiation, execution or delivery of this Agreement, the Merger Agreement (including
alleging a breach of any duty of the Company Board or Parent Board in connection with the Merger Agreement, this Agreement or the transactions contemplated hereby or the Transactions) or the consummation of the transactions contemplated hereby and
the Transactions. Each Stockholder hereby irrevocably and unconditionally waives, and agrees not to exercise, assert or perfect (or attempt to exercise, assert or perfect), any rights of appraisal or rights to dissent in connection with the First
Merger or the other Transactions that the Stockholder may at any time have under Applicable Law by virtue of ownership of the Covered Shares. 

12. Disclosure. Each Stockholder hereby authorizes the Company and Parent to publish and disclose in any announcement or disclosure
required by the SEC the Stockholder’s identity and ownership of the Covered Shares and the nature of the Stockholder’s obligations under this Agreement; provided, that prior to any such publication or disclosure the Company and
Parent have provided the Stockholder with a reasonable opportunity to review and comment upon such announcement or disclosure, which comments the Company and Parent will consider in good faith. 

  
 11 

 13. Changes in Capital Stock. In the event of a stock split, stock dividend or
distribution, or any change in Parent’s capital stock by reason of any split-up, reverse stock split, recapitalization, combination, reclassification, exchange of shares or the like, the terms “Owned
Shares,” and “Covered Shares” shall be deemed to refer to and include such shares as well as all such stock dividends and distributions and any securities into which or for which any or all of such shares may be converted, changed or
exchanged or which are received in such transaction. 
 14. Amendment and Modification. This Agreement may not be amended, modified or
supplemented in any manner, whether by course of conduct or otherwise, except by an instrument in writing signed by each of the parties hereto. No failure or delay by any party hereto exercising any right, power or privilege hereunder shall operate
as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies of the parties hereto hereunder are cumulative and
are not exclusive of any rights or remedies which they would otherwise have hereunder. Any agreement on the part of a party hereto to any such waiver shall be valid only if set forth in a written instrument executed and delivered by such party 

15. Notices. 

(a) A notice given under this Agreement shall be sent to the attention of the Person, and to the physical address, email
address or fax number given in this Section 15 (or such other physical address, email address, fax number or Person as the party may notify to the other in accordance with the provisions of this
Section 15 and shall be delivered personally; sent by fax; sent by email; or sent by registered mail or reputable international overnight courier. 

(b) The addresses for service of notice are: 

if to the Stockholders, to them at: 

[•] 
 Attention: [•]

 E-mail: [•] 

with a copy (which shall not constitute notice) to: 

Vinson & Elkins LLP 

Texas Tower 
 845 Texas Avenue,
Suite 4700 
 Houston, Texas 77002 

Attention:            Lande A. Spottswood 

Facsimile No.:     (713) 615-5171 

Email:                  lspottswood@velaw.com 

  
 12 

 if to Parent, to: 

Talos Energy Inc. 
 333 Clay
Street, Suite 3300 
 Houston, Texas 77002 

Attention:            William S. Moss III 

Facsimile No.:     (713) 574-4919 

Email:                  bill.moss@talosenergy.com 

with a copy to: 

Vinson & Elkins LLP 

Texas Tower 
 845 Texas Avenue,
Suite 4700 
 Houston, Texas 77002 

Attention:            Lande A. Spottswood 

Facsimile No.:     (713) 615-5171 

Email:                  lspottswood@velaw.com 

if to the Company prior to the Closing, to: 

EnVen Energy Corporation 
 609
Main Street, Suite 3200 
 Houston, Texas 77002 

Attention:            General Counsel 

Facsimile No.:     (713) 335-7500 

E-mail:
                jstarzec@enven.com 
 with a
copy to: 
 Davis Polk & Wardwell LLP 

450 Lexington Avenue 
 New York,
New York 10017 
 Attention:            William J. Chudd 

Facsimile No.:     (212) 701-5800 

Email:                  william.chudd@davispolk.com 

16. No Ownership Interest. Nothing contained in this Agreement shall be deemed to vest in Parent or the Company any direct or indirect
ownership or incidence of ownership of or with respect to the Covered Shares of the Stockholders. All rights, ownership and economic benefits of and relating to the Covered Shares of the Stockholders shall remain vested in and belong to the
applicable Stockholder, and neither Parent nor the Company shall have authority to direct any Stockholder in the voting or disposition of any of such Stockholder’s Covered Shares, except as otherwise provided herein. 

17. Entire Agreement. This Agreement and the other Transaction Agreements as to which the Company or Parent, on the one hand, and the
Stockholders on the other hand, are parties, constitute the entire agreement among the parties relating to the transactions contemplated hereby and supersede any other agreements, whether written and oral, that may have been entered into by or among
any of the parties hereto relating to the transactions contemplated hereby. 

  
 13 

 18. No Third-Party Beneficiaries. Each Stockholder hereby agrees that its
representations, warranties and covenants set forth herein are solely for the benefit of Parent and the Company in accordance with and subject to the terms of this Agreement, and this Agreement is not intended to, and does not, confer upon any
Person other than the parties hereto any rights or remedies hereunder, including the right to rely upon the representations and warranties set forth herein, and the parties hereto hereby further agree that this Agreement may only be enforced
against, and any Legal Proceeding that may be based upon, arise out of or relate to this Agreement, or the negotiation, execution or performance of this Agreement may only be made against, the Persons expressly named as parties hereto. 

19. Assignment; Successors. Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by any of
the parties hereto in whole or in part (whether by operation of Applicable Law or otherwise) without the prior written consent of the other parties hereto, and any such assignment without such consent shall be null and void. This Agreement shall be
binding upon, inure to the benefit of and be enforceable by the parties hereto and their respective successors and permitted assigns. Any attempted assignment in violation of the terms of this Section 19 shall be null and
void, ab initio. 
 20. Capacity as a Stockholder. Notwithstanding anything herein to the contrary, each Stockholder signs this
Agreement solely in the Stockholder’s capacity as a stockholder of the Company, and not in any other capacity, and this Agreement shall not limit or otherwise affect the actions of any affiliate, employee or designee of the Stockholder or any
of its affiliates in his or her capacity, if applicable, as an officer or director of the Company or any other Person. 
 21.
Miscellaneous. The provisions set forth in Sections 1.02 (Other Definitional and Interpretative Provisions), 10.10 (Severability), 10.12 (Counterparts; Effectiveness), 10.13 (Jurisdiction), 10.14 (Governing Law), 10.15 (Specific Performance)
and 10.16 (Waiver of Jury Trial) of the Merger Agreement, as in effect as of the date hereof, are hereby incorporated by reference into, and shall be deemed to apply to, this Agreement, mutatis mutandis. 

[The remainder of this page is intentionally left blank.] 

  
 14 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed (where
applicable, by their respective officers or other authorized Persons thereunto duly authorized) as of the date first written above. 
  

			
	TALOS ENERGY INC.
		
	By:	 	
                     

		 	Name:
		 	Title:
	
	ENVEN ENERGY CORPORATION
		
	By:	 	
                     

		 	Name:
		 	Title:

 
			
	[STOCKHOLDER]
		
	By:	 	
                     
    

		 	Name:
		 	Title:

 Schedule 1 
  

			
	 Stockholder
	  	 Common Stock

	[•]	  	[•]Exhibit 4.1

 

Closing Document No. 4(f)

 

CERTIFIED COPY

OF

SECURITIES RESOLUTION NO. 20

OF

WISCONSIN ELECTRIC POWER COMPANY

 

I, William J. Guc, Vice President,
Controller and Assistant Corporate Secretary of WISCONSIN ELECTRIC POWER COMPANY (the “Company”), do hereby certify that the
attached is a true and correct copy of Securities Resolution No. 20 under the Indenture dated as of December 1, 1995 between the
Company and U.S. Bank Trust Company, National Association, as successor to Firstar Trust Company, as Trustee, which has been duly adopted
by the Vice President and Treasurer of the Company pursuant to authorization delegated to him by the Board of Directors of the Company
by resolutions duly adopted by said Board effective as of January 1, 2022; and I do further certify that said Securities Resolution No.
20 has not been rescinded and remains in full force and effect.

 

IN WITNESS WHEREOF, I have
hereunto set my hand and affixed the corporate seal of said WISCONSIN ELECTRIC POWER COMPANY this 22nd day of September 2022.

 

	 	/s/ William J. Guc
	 	William J. Guc
	 	Vice President, Controller and Assistant Corporate Secretary

 

(CORPORATE SEAL)

 

     

     

    

 

4.75% DEBENTURES DUE SEPTEMBER 30, 2032

 

 

SECURITIES RESOLUTION NO. 20

OF

WISCONSIN ELECTRIC POWER COMPANY

 

The actions described below are
taken by the Board (as defined in the Indenture referred to below) of WISCONSIN ELECTRIC POWER COMPANY (the “Company”), or
by an Officer or committee of Officers pursuant to Board delegation, pursuant to resolutions adopted by the Board of Directors of the
Company effective as of January 1, 2022 and Section 2.01 of the Indenture dated as of December 1, 1995 (the “Indenture”) between
the Company and U.S. Bank Trust Company, National Association (as successor to Firstar Trust Company), as Trustee. Terms used herein and
not defined have the same meaning as in the Indenture.

 

RESOLVED, that a new series of
Securities is authorized as follows:

 

		1.	The title of the series is 4.75% Debentures due September 30, 2032 (“4.75% Debentures”).

 

		2.	The form of the 4.75% Debentures shall be substantially in the form of Exhibit 1 hereto.

 

		3.	The 4.75% Debentures shall have the terms set forth in Exhibit
1.

 

		4.	The 4.75% Debentures shall have such other terms as are set forth in Exhibit 2 hereto.

 

		5.	The 4.75% Debentures shall be sold to the underwriter(s) named in the prospectus supplement dated September
14, 2022 on the following terms:

 

Aggregate Principal Amount: $500,000,000

Price to Public: 99.794%

Underwriting Discount: 0.650%

Closing Date: September 22, 2022

 

This Securities Resolution shall
be effective as of September 14, 2022.

 

     

     

    

 

EXHIBIT 1

 

	No. _______	$_____________

 

WISCONSIN ELECTRIC POWER COMPANY

4.75% Debentures due September 30, 2032

 

WISCONSIN ELECTRIC POWER COMPANY

 

promises to pay to _________________________________________________________________________________________________________

 

or registered assigns

the principal sum of ___________________________________________________________________________________________________Dollars

on September 30, 2032

 

	Interest Payment Dates:	March 30 and September 30
	Record Dates:	March 15 and September 15

 

Dated:

 

WISCONSIN ELECTRIC POWER COMPANY

 

by

 

 

 

	 	 
	[Title of Authorized Officer]	 

 

 

 

(CORPORATE SEAL)

 

 

	 	 
	[Assistant] Secretary	 

 

     

     

    

 

U.S. BANK TRUST COMPANY, NATIONAL

ASSOCIATION

Transfer Agent and Paying Agent

 

 

 

 

Authenticated:

 

 

 

U.S. BANK TRUST COMPANY, NATIONAL

ASSOCIATION

Registrar, by

 

 

 

	 	 
	Authorized Signature	 

 

    2

     

    

 

WISCONSIN ELECTRIC POWER COMPANY

4.75% Debentures due September 30, 2032

 

		1.	Interest.

 

Wisconsin Electric Power Company (the
 “Company”), a Wisconsin corporation, promises to pay interest on the principal amount of this Security at the rate per annum
shown above. The Company will pay interest semiannually on March 30 and September 30 of each year commencing March 30, 2023. Interest
on the Securities (as defined in Section 4) will accrue from the most recent date to which interest has been paid or, if no interest has
been paid, from September 22, 2022. Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months.

 

		2.	Method of Payment.

 

The Company will pay interest on the
Securities to the persons who are registered holders of Securities at the close of business on the record date for the next interest payment
date, except as otherwise provided in the Indenture. Holders must surrender Securities to a Paying Agent to collect principal payments.
The Company will pay principal and interest in money of the United States that at the time of payment is legal tender for payment of public
and private debts. The Company may pay principal and interest by check payable in such money. It may mail an interest check to a holder’s
registered address.

 

		3.	Securities Agents.

 

Initially, U.S. Bank Trust Company,
National Association will act as Paying Agent, Transfer Agent and Registrar. The Company may change any Paying Agent or Transfer Agent
without notice. The Company or any Affiliate may act in any such capacity. Subject to certain conditions, the Company may change the Trustee.

 

		4.	Indenture.

 

The Company issued the securities of
this series (the “Securities”) under an Indenture dated as of December 1, 1995 (the “Indenture”) between
the Company and U.S. Bank Trust Company, National Association (as successor to Firstar Trust Company) (the “Trustee”). The
terms of the Securities include those stated in the Indenture and in the Securities Resolution establishing the Securities and those made
part of the Indenture by the Trust Indenture Act of 1939 (15 U.S. Code Sections 77aaa-77bbbb). Securityholders are referred to the
Indenture, the Securities Resolution and such Act for a statement of such terms.

 

		5.	Redemption.

 

Prior to June
30, 2032 (the “Par Call Date”), the Company may redeem the Securities at the Company’s option, in whole or in
part, at any time and from time to time, at a redemption price (expressed as a percentage of principal amount and rounded to three
decimal places) equal to the greater of:

 

    3

     

    

 

  (1) (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date (assuming the Securities matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 25 basis points less (b) interest accrued to, but not including, the date of redemption; and

 

  (2) 100% of the principal amount of the Securities to be redeemed,

 

plus, in either case,
accrued and unpaid interest thereon to, but not including, the redemption date.

 

On or after the Par
Call Date, the Company may redeem the Securities, in whole or in part, at any time and from time to time, at a redemption price equal
to 100% of the principal amount of the Securities being redeemed plus accrued and unpaid interest thereon to, but not including, the redemption
date.

 

“Treasury Rate”
means, with respect to any redemption date, the yield determined by the Company in accordance with the following two paragraphs.

 

The Treasury Rate
shall be determined by the Company after 4:15 p.m., New York City time (or after such time as yields on U.S. government securities are
posted each business day by the Board of Governors of the Federal Reserve System), on the third business day preceding the redemption
date based upon the yield or yields for the most recent day that appear after such time on such day in the most recent statistical release
published by the Board of Governors of the Federal Reserve System designated as “Selected Interest Rates (Daily) - H.15” (or
any successor designation or publication) (“H.15”) under the caption “U.S. government securities–Treasury constant
maturities–Nominal” (or any successor caption or heading) (“H.15 TCM”). In determining the Treasury Rate, the
Company shall select, as applicable: (1) the yield for the Treasury constant maturity on H.15 exactly equal to the period from the redemption
date to the Par Call Date (the “Remaining Life”); or (2) if there is no such Treasury constant maturity on H.15 exactly equal
to the Remaining Life, the two yields—one yield corresponding to the Treasury constant maturity on H.15 immediately shorter than
and one yield corresponding to the Treasury constant maturity on H.15 immediately longer than the Remaining Life—and shall interpolate
to the Par Call Date on a straight-line basis (using the actual number of days) using such yields and rounding the result to three decimal
places; or (3) if there is no such Treasury constant maturity on H.15 shorter than or longer than the Remaining Life, the yield for the
single Treasury constant maturity on H.15 closest to the Remaining Life. For purposes of this paragraph, the applicable Treasury constant
maturity or maturities on H.15 shall be deemed to have a maturity date equal to the relevant number of months or years, as applicable,
of such Treasury constant maturity from the redemption date.

 

If on the third business
day preceding the redemption date H.15 TCM is no longer published, the Company shall calculate the Treasury Rate based on the rate per
annum equal to the semiannual equivalent yield to maturity at 11:00 a.m., New York City time, on the second business day preceding
such redemption date of the United States Treasury security maturing on, or with a maturity that is closest to, the Par Call Date, as
applicable. If there is no United States Treasury security maturing on the Par Call Date but there are two or more United States Treasury
securities with a maturity date equally distant from the Par Call Date, one with a maturity date preceding the Par Call Date and one
with a maturity date following the Par Call Date, the Company shall select the United States Treasury security with a maturity date preceding
the Par Call Date. If there are two or more United States Treasury securities maturing on the Par Call Date or two or more United States
Treasury securities meeting the criteria of the preceding sentence, the Company shall select from among these two or more United States
Treasury securities the United States Treasury security that is trading closest to par based upon the average of the bid and asked prices
for such United States Treasury securities at 11:00 a.m., New York City time. In determining the Treasury Rate in accordance with the
terms of this paragraph, the semiannual yield to maturity of the applicable United States Treasury security shall be based upon the average
of the bid and asked prices (expressed as a percentage of principal amount) at 11:00 a.m., New York City time, of such United States
Treasury security, and rounded to three decimal places.

 

    4

     

    

 

The Company’s
actions and determinations in determining the redemption price shall be conclusive and binding for all purposes, absent manifest error.

 

The Company will send
notice at least 10 days, but not more than 60 days, before the redemption date to each holder of the Securities to be redeemed. Except
for the foregoing, the procedures for the redemption of the Securities will be governed by Article 3 of the Indenture.

 

		6.	Denominations, Transfer, Exchange.

 

The Securities are in registered form
without coupons in denominations of $1,000 and whole multiples of $1,000. The transfer of Securities may be registered and Securities
may be exchanged as provided in the Indenture. The Transfer Agent may require a holder, among other things, to furnish appropriate endorsements
and transfer documents and to pay any taxes and fees required by law or the Indenture. The Transfer Agent need not exchange or register
the transfer of any Security or portion of a Security selected for redemption. Also, it need not exchange or register the transfer of
any Securities for a period of 15 days before a selection of Securities to be redeemed.

 

		7.	Persons Deemed Owners.

 

The registered holder of a Security
may be treated as its owner for all purposes.

 

		8.	Amendments and Waivers.

 

Subject to certain exceptions, the Indenture
or the Securities may be amended with the consent of the holders of a majority in principal amount of the securities of all series affected
by the amendment. Subject to certain exceptions, a default on a series may be waived with the consent of the holders of a majority in
principal amount of the series.

 

Without the consent of any Securityholder,
the Indenture or the Securities may be amended, among other things, to cure any ambiguity, omission, defect or inconsistency; to provide
for assumption of Company obligations to Securityholders; or to make any change that does not materially adversely affect the rights of
any Securityholder.

 

    5

     

    

 

		9.	Restrictive Covenants.

 

The Securities are unsecured general
obligations of the Company initially limited to $500,000,000 principal amount. The Company may from time to time without notice to, or
the consent of, the holders of the Securities, create and issue further securities of the same series, equal in rank to the Securities
in all respects (or in all respects except for the payment of interest accruing prior to the issue date of the new securities or, if applicable,
the first payment of interest following the issue date of the new securities) so that the new securities may be consolidated and form
a single series with the Securities and have the same terms as to status, redemption or otherwise as the Securities. The Indenture does
not limit other unsecured debt. Section 4.07 of the Indenture, which if applicable limits certain mortgages and other liens, will
apply with respect to the Securities, as modified by the final sentence of this Section 9. The limitations are subject to a number of
important qualifications and exceptions.

 

With respect to the Securities, any
liens created in connection with (i) the sale by the Company of “environmental control property” (as defined in Section 196.027(1)(h)
of the Wisconsin Statutes) to a subsidiary of the Company and the related issuance by such subsidiary of “environmental trust bonds”
(as defined in Section 196.027 of the Wisconsin Statutes) or (ii) any sale of similar assets and the related issuance of other similar
securities pursuant to legislation adopted by the State of Wisconsin, shall be exempt from the limitations on liens in Section 4.07 of
the Indenture.

 

		10.	Successors.

 

When a successor assumes all the obligations
of the Company under the Securities and the Indenture, the Company will be released from those obligations.

 

		11.	Defeasance Prior to Redemption or Maturity.

 

Subject to certain conditions, the Company
at any time may terminate some or all of its obligations under the Securities and the Indenture if the Company deposits with the Trustee
money or U.S. Government Obligations for the payment of principal and interest on the Securities to redemption or maturity. U.S. Government
Obligations are securities backed by the full faith and credit of the United States of America which are not callable at the issuer’s
option or certificates representing an ownership interest in such Obligations.

 

		12.	Defaults and Remedies.

 

An Event of Default includes:
default for 60 days in payment of interest on the Securities; default in payment of principal on the Securities; default for 60 days
in the payment of any sinking fund obligation with respect to the Securities; default by the Company for a specified period after
notice to it in the performance of any of its other agreements applicable to the Securities; certain events of bankruptcy or
insolvency; and any other Event of Default provided for in the series. If an Event of Default occurs and is continuing, the Trustee
or the holders of at least 25% in principal amount of the Securities may declare the principal of all the Securities to be due and
payable immediately.

 

Securityholders may not enforce the
Indenture or the Securities except as provided in the Indenture. The Trustee may require indemnity satisfactory to it before it enforces
the Indenture or the Securities. Subject to certain limitations, holders of a majority in principal amount of the Securities may direct
the Trustee in its exercise of any trust or power. The Trustee may withhold from Securityholders notice of any continuing default (except
a default in payment of principal or interest) if it determines that withholding notice is in their interests. The Company must furnish
an annual compliance certificate to the Trustee.

 

    6

     

    

 

		13.	Trustee Dealings with Company.

 

U.S. Bank Trust Company, National Association,
the Trustee under the Indenture, in its individual or any other capacity, may make loans to, accept deposits from, and perform services
for the Company or its Affiliates, and may otherwise deal with those persons, as if it were not Trustee.

 

		14.	No Recourse Against Others.

 

A director, officer, employee or stockholder,
as such, of the Company shall not have any liability for any obligations of the Company under the Securities or the Indenture or for any
claim based on, in respect of or by reason of such obligations or their creation. Each Securityholder by accepting a Security waives and
releases all such liability. The waiver and release are part of the consideration for the issue of the Securities.

 

		15.	Authentication.

 

This Security shall not be valid until
authenticated by a manual signature of the Registrar.

 

		16.	Abbreviations.

 

Customary abbreviations may be used
in the name of a Securityholder or an assignee, such as: TEN COM (=tenants in common), TEN ENT (=tenants by the entirety), JT TEN (=joint
tenants with right of survivorship and not as tenants in common), CUST (=custodian), U/G/M/A (=Uniform Gifts to Minors Act), and U/T/M/A
(=Uniform Transfers to Minors Act).

 

The Company will furnish to any Securityholder
upon written request and without charge a copy of the Indenture and the Securities Resolution, which contains the text of this Security
in larger type. Requests may be made to: Corporate Secretary, Wisconsin Electric Power Company, 231 West Michigan Street, P.O. Box 2046,
Milwaukee, WI 53201.

 

    7

     

    

 

EXHIBIT 2

 

WISCONSIN ELECTRIC POWER COMPANY

4.75% Debentures due September 30, 2032

 

Supplemental Terms

 

In addition to the terms set forth in Exhibit
1 to Securities Resolution No. 20, the 4.75% Debentures shall have the following terms:

 

Section 1. Definitions. Capitalized terms
used and not defined herein shall have the meaning given such terms in the Indenture. The following is an additional definition applicable
to the 4.75% Debentures:

 

“Depositary” means, with respect to
the 4.75% Debentures, issued as one or more global Securities, The Depository Trust Company, New York, New York, or any successor thereto
registered under the Securities Exchange Act of 1934 or other applicable statute or regulation.

 

Section 2. Securities Issuable as Global Securities.

 

(a) The 4.75% Debentures shall be issued in the
form of one or more permanent global Securities and shall, except as otherwise provided in this Section 2, be registered only in the name
of the Depositary or its nominee. Each global Security shall bear a legend substantially to the following effect:

 

“Unless this certificate is presented by an authorized
representative of The Depository Trust Company, a New York corporation (“DTC”), to the Company or its agent for registration
of transfer, exchange, or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is
requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by
an authorized representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
inasmuch as the registered owner hereof, Cede & Co., has an interest herein.” 

 

(b) If at any time (i) the Depositary with respect
to the 4.75% Debentures notifies the Company that it is unwilling or unable to continue as Depositary for such global Security or (ii)
the Depositary for the 4.75% Debentures shall no longer be eligible or in good standing under the Securities Exchange Act of 1934 or other
applicable statute or regulation, the Company shall appoint a successor Depositary with respect to such global Security. If a successor
Depositary for such global Security is not appointed by the Company within 90 days after the Company receives such notice or becomes aware
of such ineligibility, the Transfer Agent shall register the exchange of such global Security for an equal principal amount of Registered
Securities in the manner provided in Section 2.07 of the Indenture.

 

     

     

    

 

(c) The Transfer Agent shall register the transfer
or exchange of a global Security for Registered Securities pursuant to Section 2.07 of the Indenture if (i) a Default or Event of Default
shall have occurred and be continuing with respect to the 4.75% Debentures, or (ii) the Company determines that the 4.75% Debentures shall
no longer be represented by global Securities.

 

(d) In any exchange provided for in the preceding
paragraphs (b) or (c), the Company will execute and the Registrar will authenticate and deliver Registered Securities. Registered Securities
issued in exchange for a global Security shall be in such names and denominations as the Depositary for such global Security shall instruct
the Registrar. The Registrar shall deliver such Registered Securities to the persons in whose names such Securities are so registered.

 

(e) The 4.75% Debentures will trade in the Depositary’s
Same-Day Funds Settlement System. All payments of principal and interest on global Securities will be made by the Company in immediately
available funds.

 

    2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}]]