BlackRock, Inc. Amends Schedule 13G/A for MGE Energy Inc.

BlackRock, Inc. has filed an amendment to its Schedule 13G/A for MGE Energy Inc., reporting a decrease in its ownership. As of September 30, 2025, BlackRock beneficially owns 5,616,238 shares of MGE Energy Inc.'s common stock, representing a 15.4% ownership stake. This reflects a decrease of 67,581 shares compared to the previous filing, with the value of the holdings decreasing by $29,171,882.22. The filing indicates that BlackRock's holdings are held in the ordinary course of business and not for the purpose of influencing control of the issuer. The amendment also notes that the interest of iShares Core S&P Small-Cap ETF in MGE Energy Inc.'s common stock exceeds five percent of the total outstanding shares.