MGE Energy (MGEE) Proxy Filing summary

Executive summary

• Focus on leading a clean energy transition with investments in cost-effective generation to reduce carbon emissions and deliver reliable, affordable, and sustainable power.

• Tyto Solar project energized in February 2024, utilizing agrivoltaics with sheep to maintain optimal solar panel performance.

• Committed to reducing carbon emissions by at least 80% by 2030, with a long-term goal of net-zero carbon electricity by 2050.

• Over half of projected capital expenditures from 2025 to 2029 allocated to science-based carbon reduction initiatives.

• Emphasis on customer engagement, energy efficiency programs, and electrification, especially in transportation.

ESG and sustainability initiatives

• Investments target decarbonizing the grid and supporting science-based carbon reduction goals.

• Programs like MGE Connect promote energy efficiency and customer participation in decarbonization.

• Support for electric vehicle adoption and charging infrastructure as a key decarbonization and business growth strategy.

• Values of safety, reliability, sustainability, equity, and engagement guide all initiatives.