MGE Energy (MGEE) AGM 2026 summary

Opening remarks and agenda

• Meeting opened by Chairman, President, and CEO, with introductions of executive team and board members.

• Virtual format emphasized for equal shareholder participation and Q&A procedures outlined.

• Notice of meeting and quorum confirmed, with 36,752,339 shares represented.

• Agenda included officer and board introductions, financial review, company update, and Q&A.

Financial performance review

• 2025 saw strong financial growth, with earnings per share rising to $3.72 from $3.33.

• Major clean energy projects (Darien Solar, Paris Battery Storage) contributed to earnings.

• Compound annual earnings growth rate of 7.4% over five years.

• Asset base grew from $2.3B to $3B in five years, with $1.5B in renewables/battery investment expected by 2030.

• Recent $250M equity offering completed to support capital investment and maintain balance sheet strength.

Dividend announcements

• 50 consecutive years of dividend increases, with 2025 dividend up 5.6% to $1.90 per share.

• Five-year compound annual dividend growth rate of 5%.

• Board remains committed to sustained dividend growth and balancing investment with affordability.