What is the Direct Stock Purchase and Dividend Reinvestment Plan?

The plan allows participants to:

• Purchase shares directly through the company with minimal or no brokerage fees.
• Reinvest dividends or receive cash payments by check or electronic deposit.
• Deposit MGE Energy certificates for safekeeping.
• Make regular additional investments via electronic funds transfer.

What are the requirements to participate in the plan?

• Any registered shareholder may participate.
• Non-shareholders may join the plan with a minimum $250 first-time investment.
• Custodial accounts for minors may be opened with $50.
• The $250 minimum is waived if you sign up for automatic monthly deductions of at least $25 for 12 months.

Are there any broker commissions or fees?

There are no administrative fees to purchase shares. Brokerage fees are nominal. When you sell shares through the Plan, an administrative fee of $10 plus brokerage fees will be charged. Please see the Plan prospectus for more information regarding the purchase and sale of shares under the Plan.

Where can I learn more?

Review the Plan prospectus.

View the Plan prospectus (which includes an enrollment form). Plan prospectus [PDF - 160 KB].

The enrollment form contains a substitute Form W-9. Please see IRS instructions [PDF - 72 KB].

NOTE: This communication is not an offer to sell or a solicitation of an offer to buy any security. An offer to sell common stock can only be made through the prospectus for the Direct Stock Purchase and Dividend Reinvestment Plan. Please read the prospectus before making a decision to enroll in the Plan. You can view the prospectus by clicking above or by contacting us at MGE Energy Shareholder Services, P.O. Box 1231, Madison, WI 53701-1231.