MGE Energy (MGEE) Proxy filing summary

Executive summary

• Achieved 50 consecutive years of dividend increases and a 7% five-year compound annual growth rate in earnings per share and assets.

• Nearly $2 billion in capital investments planned over the next five years, focusing on renewables, battery storage, and natural gas generation.

• Continued top-tier electric reliability and improved energy affordability, with a 20% decrease in average residential electric bills as a percentage of customer wallet since 2014.

• Ongoing commitment to net-zero carbon electricity by 2050, with significant investments in solar, wind, and battery storage.

Voting matters and shareholder proposals

• Election of three Class I directors for terms expiring at the 2029 Annual Meeting.

• Ratification of PricewaterhouseCoopers LLP as independent registered public accounting firm for 2026.

• Advisory vote to approve executive compensation (say-on-pay).

• Shareholders of record as of March 23, 2026, are entitled to vote; virtual meeting scheduled for May 19, 2026.

Board of directors and corporate governance

• Board consists of 10 directors, 8 of whom are independent; all key committees are fully independent.

• Board conducts annual self-assessments, peer evaluations, and succession planning.

• Board diversity includes 40% women and 20% from underrepresented racial backgrounds.

• Majority vote resignation policy in place for uncontested director elections.