BlackRock, Inc. Increases Stake in MGE Energy Inc.

BlackRock, Inc. has filed a Schedule 13G/A amendment, disclosing an increased ownership in MGE Energy Inc. The filing reveals that BlackRock now holds 5,616,238 shares of MGE Energy's common stock, representing a 15.4% ownership stake. This marks a significant increase from previous holdings, with a value change of $4,003,440,481.04 and a shares change of 3,447,794. The filing also notes that the interest of iShares Core S&P Small-Cap ETF in MGE Energy's common stock exceeds five percent of the total outstanding common stock. The amendment was signed by Spencer Fleming, Managing Director of BlackRock, Inc., on October 17, 2025.