<SEC-DOCUMENT>0001214659-24-006046.txt : 20240404
<SEC-HEADER>0001214659-24-006046.hdr.sgml : 20240404
<ACCEPTANCE-DATETIME>20240403175906
ACCESSION NUMBER:		0001214659-24-006046
CONFORMED SUBMISSION TYPE:	PX14A6G
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20240404
DATE AS OF CHANGE:		20240403
EFFECTIVENESS DATE:		20240404

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DTE ENERGY CO
		CENTRAL INDEX KEY:			0000936340
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				383217752
		STATE OF INCORPORATION:			MI
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		PX14A6G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11607
		FILM NUMBER:		24820522

	BUSINESS ADDRESS:	
		STREET 1:		ONE ENERGY PLAZA
		CITY:			DETROIT
		STATE:			MI
		ZIP:			48226
		BUSINESS PHONE:		3132354000

	MAIL ADDRESS:	
		STREET 1:		ONE ENERGY PLAZA
		CITY:			DETROIT
		STATE:			MI
		ZIP:			48226

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DTE HOLDINGS INC
		DATE OF NAME CHANGE:	19950127

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AS YOU SOW
		CENTRAL INDEX KEY:			0001086462
		ORGANIZATION NAME:           	
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			CA

	FILING VALUES:
		FORM TYPE:		PX14A6G

	BUSINESS ADDRESS:	
		STREET 1:		2150 KITTREDGE ST.
		STREET 2:		SUITE 450
		CITY:			BERKELEY
		STATE:			CA
		ZIP:			94704
		BUSINESS PHONE:		510-735-8155

	MAIL ADDRESS:	
		STREET 1:		2150 KITTREDGE ST.
		STREET 2:		SUITE 450
		CITY:			BERKELEY
		STATE:			CA
		ZIP:			94704
</SEC-HEADER>
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<FILENAME>o432410px14a6g.htm
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    <TD ROWSPAN="2" STYLE="white-space: nowrap; vertical-align: top; width: 10%"><IMG SRC="asyousowlogo.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 10%"><FONT STYLE="font-size: 8pt; color: #00813D">Main Post Office, P.O. Box 751&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; width: 80%; white-space: nowrap"><FONT STYLE="font-size: 8pt; color: #73C167"><B>www.asyousow.org</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 8pt; color: #00813D">Berkeley, CA 94704</FONT></P>
                                    <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 8pt; color: #00813D"> &nbsp;&nbsp;&nbsp;</FONT></P></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 7.5pt; color: #73C167">BUILDING A SAFE, JUST, AND SUSTAINABLE WORLD SINCE 1992</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 117.35pt"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Notice of Exempt Solicitation Pursuant to Rule 14a-103</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Name of the Registrant: DTE Energy Co.<BR>
Name of persons relying on exemption:&nbsp;As You Sow&trade;<BR>
Address of persons relying on exemption: Main Post Office, P.O. Box 751, Berkeley, CA 94704</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Written materials are submitted pursuant to Rule 14a-6(g)(1) promulgated
under the Securities Exchange Act of 1934.&nbsp;Submission is not required of this filer under the terms of the Rule, but is made voluntarily
in the interest of public disclosure and consideration of these important issues.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9pt; background-color: #B8CCE4">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">DTE Energy Co. (DTE)<BR>
Vote Yes: Item #4 &ndash;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Climate Transition Plan, Inclusive of Downstream
Gas Utility Emissions</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Annual Meeting: May 2, 2024 </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CONTACT: Kelly Poole | kpoole@asyousow.org</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9pt; background-color: #B8CCE4">THE RESOLUTION</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>BE IT RESOLVED</B>: Shareholders request DTE produce a climate transition
plan, inclusive of downstream emissions from its natural gas utility, that aligns the Company with the Paris Agreement's 1.5&deg;C goal
requiring Net Zero emissions by 2050.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9pt; background-color: #B8CCE4">SUMMARY</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">To meet the Paris Agreement&rsquo;s
goal of limiting global warming to 1.5<FONT STYLE="color: #333333">&deg;</FONT>C and to thereby avoid the worst effects of climate change,
all companies must reach Net Zero emissions by 2050. Gas utilities will play a pivotal role in reaching the Paris Agreement&rsquo;s goal.
In 2022, natural gas represented 35% of U.S. energy-related carbon dioxide emissions.<SUP>1</SUP> To reduce these emissions, utilities&rsquo;
full range of value chain emissions &mdash; including emissions from customer use of energy &mdash; must be included in climate transition
plans.<SUP>2,3</SUP></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">DTE is a diversified energy company with both electric and natural
gas business segments. Its gas segment includes local distribution companies (LDCs), which sell natural gas to approximately 1.3 million
residential, commercial, and industrial customers throughout Michigan. This gas segment is carbon-intensive with downstream combustion
of natural gas accounting for 22% of DTE&rsquo;s carbon footprint.<SUP>4</SUP> As the operator of a natural gas utility, DTE is exposed
to proliferating climate regulations and evolving customer demands for low-carbon energy. Further, its greenhouse gas (GHG) emissions
are contributing to increased climate risk. To date, DTE has failed to respond to these risks, and investors are concerned about its gas
segment&rsquo;s long-term viability.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><SUP>1</SUP></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://www.eia.gov/energyexplained/energy-and-the-environment/where-greenhouse-gases-come-from.php</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><SUP>2</SUP></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://iopscience.iop.org/article/10.1088/1748-9326/abef33</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><SUP>3</SUP></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://www.epa.gov/cmop/about-coal-mine-methane#:~:text=Methane%20(CH4)%20emissions%20from,and%20Sinks%3A%201990%2D2019</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><SUP>4</SUP></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://empoweringmichigan.com/wp-content/uploads/CDPClimateChangeQuesionnaire.pdf</FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">p.130</FONT></P>

<P STYLE="color: #71C267; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="color: #71C267; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="white-space: nowrap; width: 10%"><IMG SRC="asyousowlogo.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2024
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">DTE Energy Co. | Include Downstream Emissions in Climate Transition Planning</FONT></P>
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</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #71C267">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">While DTE has set targets for and discloses how it plans to address
emissions for its electric business, these targets are not 1.5 aligned. Further, DTE has not set 1.5&deg;C-aligned targets or disclosed
a climate transition plan for its gas segment. Meanwhile, DTE&rsquo;s direct peers are addressing emissions from customer use of natural
gas and capitalizing on the business opportunities of electrification, putting DTE at a competitive disadvantage.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">To ensure DTE responds to material climate-related risks and remains
competitive in an industry being redefined by climate change, investors request a climate transition plan that is inclusive of downstream
emissions from DTE&rsquo;s natural gas utility and that aligns the Company with the Paris Agreement&rsquo;s 1.5&deg;C goal requiring Net
Zero emissions by 2050.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9pt; background-color: #B8CCE4">RATIONALE FOR A YES
VOTE</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>1.</B></FONT></TD><TD><B>DTE&rsquo;s gas segment is exposed to regulatory, competitive, and reputational climate-related <FONT STYLE="font-size: 11pt">risks</FONT>.</B></TD></TR></TABLE>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>2.</B></FONT></TD><TD><B>DTE has not implemented the proposal and fails to report on how intends to reduce its full range of GHG emissions in alignment
with global 1.5&deg;C goals.</B></TD></TR></TABLE>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>3.</B></FONT></TD><TD><B>DTE lags peers in accounting for downstream Scope 3 emissions in climate transition planning.</B></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9pt; background-color: #B8CCE4">DISCUSSION</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>1.</B></FONT></TD><TD><B>DTE&rsquo;s gas segment is exposed to regulatory, competitive, and reputational climate-related <FONT STYLE="font-size: 11pt">risks.</FONT></B></TD></TR></TABLE>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in">DTE&rsquo;s gas segment is responsible
for 21% of the Company&rsquo;s 2023 net income and serves 1.3 million residential, commercial, and industrial customers. This segment
is carbon-intensive, with downstream combustion of natural gas accounting for 22% of DTE&rsquo;s carbon footprint.<SUP>5</SUP></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 11pt"><U>Regulatory Risk &amp;
Opportunity</U> &ndash; Because combustion of natural gas is carbon-intensive and harmful to consumer health, regulators are beginning
to restrict its use.<SUP>6</SUP> For example, there are currently 135 local governance ordinances spanning 12 states that limit the use
of natural gas in buildings.<SUP>7</SUP> It is likely that these ordinances will continue to proliferate and influence regulations in
Mic<FONT STYLE="color: #333333">higan</FONT></FONT><FONT STYLE="font-size: 9pt; color: #333333">. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">In fact, the City of Ann Arbor passed a resolution in 2023
directing the administrator to negotiate a new heating franchise with interested providers with the goal of initiating&nbsp;a responsible,
careful transition to renewable energy choices&nbsp;for heating.<SUP>8</SUP> This resolution is in line with the City&rsquo;s goal of
electrifying 100% of city properties, 30% of homes, and 25% of rental properties by 2030.<SUP>9</SUP> If DTE is unable to meet the City&rsquo;s
changing demands, it risks losing Ann Arbor&rsquo;s business. Ann Arbor&rsquo;s resolution sets a precedent for other municipalities looking
to decarbonize, posing a significant competitive and reputational risk to DTE.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><SUP>5</SUP></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://empoweringmichigan.com/wp-content/uploads/CDPClimateChangeQuesionnaire.pdf</FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">p. 130</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><SUP>6</SUP></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://www.lung.org/getmedia/da394c1a-200e-4c89-9947-7ecb1a26571a/The-Health-Impact-of-Combustion-in-Homes.pdf</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><SUP>7</SUP></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://buildingdecarb.org/zeb-ordinances</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><SUP>8</SUP></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://www.a2gov.org/departments/sustainability/Carbon-Neutrality/Pages/Natural-Gas-Franchise.aspx</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><SUP>9</SUP></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://www.a2gov.org/departments/sustainability/Documents/A2Zero%20Climate%20Action%20Plan%20_4.0.pdf</FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">p.32</FONT></P>

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<P STYLE="color: #71C267; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; color: #71C267; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <TD STYLE="white-space: nowrap; width: 10%"><IMG SRC="asyousowlogo.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2024
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">DTE Energy Co. | Include Downstream Emissions in Climate Transition Planning</FONT></P>
                                                <P STYLE="margin-top: 0; margin-bottom: 0"></P></TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="background-color: white">In addition to the
localities and states that are setting restrictions on natural gas, governments are also incentivizing electrification and energy efficiency
measures. In November, Michigan passed a landmark law allowing utilities to claim savings from efficient electrification measures and
requiring utilities to assess the potential of electrification of transportation, buildings, and industries.<SUP>10</SUP> Federally, to
</FONT>incentivize the adoption of low-carbon building technologies like heat pumps and rooftop solar panels, the Inflation Reduction
Act (IRA) offers $8.8 billion in rebates for utility and customer investments in energy efficiency, electrification, and low-carbon appliances.<SUP>11</SUP>
These incentives provide a critical opportunity for DTE to better meet the needs of its customers, address regulatory risks in a cost-effective
way, and instill confidence with investors that the Company is thinking strategically about making use of low-carbon capital expenditure
opportunities.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in"><FONT STYLE="background-color: white">Yet,
despite the growing regulatory and climate risks associated with new gas investments, and the incentives opportunities to make electrification
cost-effective, DTE states it is still promoting </FONT>&ldquo;the increased use of natural gas furnaces, water heaters, and appliances
within its current customer base.&rdquo;<SUP>12</SUP> New investments in gas infrastructure will keep the Company from aligning with a
1.5<SUP>o</SUP>C trajectory and <FONT STYLE="background-color: white">increase its exposure to stranded assets.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 11pt"><U>Evolving Customer Needs
</U>&ndash; DTE also faces risks from the changing demands of residential, commercial, and industrial customers who are looking to cut
energy costs and reduce their consumption of natural gas. For example, of 1,000 homeowners surveyed, 83% were concerned about energy
bills, and 69% would consider installing a heat pump in their home to reduce costs. 54% of all survey respondents ranked government incentives
(such as a tax credit or rebate) as one of their top three reasons why they would consider installing a heat pump.<SUP>13</SUP> <FONT STYLE="background-color: white">This
trend is also reflected by commercial customers who have significant presence in DTE&rsquo;s service areas who are interested in adopting
low carbon energy due to cost, competitive, or reputational reasons. As an example, commercial real estate companies CBRE and JLL have
committed to reach net zero emissions in their operations and the properties they manage by 2040.<SUP>14</SUP></FONT></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Industrial customers are also working to reduce their natural
gas use. Fo<FONT STYLE="color: #333333">r example, </FONT>customers Ford and General Motors have set interim and long-term targets for
their operational emissions, both including emissions from natural gas use.<SUP>15</SUP> While DTE is working with these companies to
deliver cleaner electricity, it has not mirrored this effort in its gas segment. If DTE is unable to provide affordable, sustainable,
and low-carbon alternative energy, these customers will look to other energy providers or develop on-site generation.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><SUP>10</SUP></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://www.mwalliance.org/blog/michigan-passes-transformative-energy-efficiency-legislation</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><SUP>11</SUP></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://www.usgbc.org/sites/default/files/2024-02/USGBC-IRA-Green-Buildings_0.pdf</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><SUP>12</SUP></FONT>
<A HREF="https://www.sec.gov/Archives/edgar/data/28385/000093634024000076/dte-20231231.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://www.sec.gov/Archives/edgar/data/28385/000093634024000076/dte-20231231.htm</FONT></A>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">p.12</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><SUP>13</SUP></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://es.mitsubishicomfort.com/blog/metus-ira-survey</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><SUP>14</SUP></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://www.cbre.no/-/media/project/cbre/dotcom/global/about/corporate-responsibility/cbre-cdp-response-2023.pdf</FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">p.30; </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://www.us.jll.com/en/newsroom/jll-commits-to-net-zero-target-for-2040</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://www.cbre.com/press-releases/cbre-commits-to-net-zero-by-2040</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><SUP>15</SUP></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://s201.q4cdn.com/693218008/files/doc_downloads/ESG/2023/08/cdp-climate-change-2023-ford.pdf</FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">p.28; </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://www.gmsustainability.com/_pdf/cdp/Climate_Change_2023_Information_Request-General_Motors_Company.pdf</FONT></P>

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    <TD STYLE="white-space: nowrap; width: 10%"><IMG SRC="asyousowlogo.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2024
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">DTE Energy Co. | Include Downstream Emissions in Climate Transition Planning</FONT></P>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><U>Investor Risk</U> - Lastly, investors are assessing company
and portfolio exposure to climate-related risks and are concerned about the long-term viability of carbon-intensive businesses, such as
DTE&rsquo;s gas business. To set expectations for climate transition plans, investors created the Net Zero Company Benchmark which requires
1.5&deg;C aligned climate transition plans, including Scope 1, 2, and 3 emissions. The Benchmark requires that a company disclose the
abatement measures it intends to use that are technologically feasible under current economic conditions and quantify the contribution
of these measures to achieving its medium- and long-term GHG reduction targets. DTE is risking its alignment with the net-zero economy
through its investments in alternative technologies that are not currently cost-effective or readily scalable - such as hydrogen and renewable
natural gas (RNG) - and also risks damaging investor sentiment, particularly when a lower-risk strategy such as electrification is available.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>2.</B></FONT></TD><TD><B>DTE has not implemented the proposal and fails to report on how it intends to reduce its full range of downstream emissions in
alignment with global 1.5&deg;C goals.</B></TD></TR></TABLE>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in">While DTE has set an interim target for
its customers&rsquo; use of natural gas, this target is not 1.5&deg;C-algined. Furthermore, the Company&rsquo;s net zero target does not
encompass customer use of natural gas. Additionally, DTE has not disclosed <FONT STYLE="background-color: white">a climate transition
plan to quantify the actions it will take to meet </FONT>1.5&deg;C <FONT STYLE="background-color: white">aligned interim and long-term
emission reduction targets for its gas utility</FONT>. This information is particularly necessary considering the Company&rsquo;s ongoing
strategy to promote the use of gas-powered appliances.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in"><FONT STYLE="background-color: white">DTE&rsquo;s
only disclosed strategy for reducing downstream</FONT> customer-use emissions is limited to <FONT STYLE="background-color: white">RNG
and hydrogen blending, potential carbon capture technologies</FONT>, and a voluntary offset program for customers.<SUP>16</SUP> <FONT STYLE="background-color: white">This
strategy is highly concerning to investors because it omits electrification, which is increasingly cleaner and cheaper than gas, and
relies on </FONT>technologies not currently cost-effective or scalable as discussed below. Offsets merely shift reductions to other sources,
which are typically not verifiable, permanent, additive, or enforceable. More importantly, they do not reduce DTE&rsquo;s <FONT STYLE="font-size: 11pt">contribution
to climate change.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in"><FONT STYLE="font-size: 11pt; background-color: white"><U>Limits
of Hydrogen and RNG</U> - First, while hydrogen and RNG hold promise for certain industrial applications, they are not currently viable
at scale.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt">&middot;</FONT></TD><TD><FONT STYLE="background-color: white">Hydrogen production, transportation, and distribution are capital-intensive, lack regulatory
guidance, and pose safety risks during transportation and storage.<SUP>17</SUP> Additionally, hydrogen </FONT>must be produced with renewable
energy to contribute meaningful emission reductions, which currently increases its costs. Further, to use hydrogen in current gas infrastructure
would require retrofitting to avoid embrittlement and a greater chance of pipeline leaks, typical outcomes associated with the use of
hydrogen in natural gas infrastructure, unless blended in very low amounts with gas.<SUP>18</SUP> Even if hydrogen becomes scalable in
the long-term, it is not a viable solution for meeting interim emission reduction targets or current customer demands.<SUP>19</SUP></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt">&middot;</FONT></TD><TD><FONT STYLE="background-color: white">RNG also faces challenges, particularly around the availability of the feedstock required to
produce RNG at scale. Switching to RNG risks raising consumer costs and leaves gas utilities competing for supply alongside many other
industries.<SUP>20</SUP></FONT></TD></TR></TABLE>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><SUP>16</SUP></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://empoweringmichigan.com/wp-content/uploads/2022SustainabilityReport.pdf</FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">p.9-10</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><SUP>17</SUP></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://energyinnovation.org/wp-content/uploads/2022/04/Assessing-the-Viability-of-Hydrogen-Proposals.pdf</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>18</SUP> <I>See</I>, e.g. https://climate.mit.edu/ask-mit/can-we-use-pipelines-and-power-plants-we-have-now-transport-and-burn-hydrogen-or-do-we-need.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><SUP>19</SUP></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://www.nature.com/articles/s41560-022-01097-4</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><SUP>20</SUP></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://www.aceee.org/sites/default/files/pdfs/U2302.pdf</FONT></P>

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    <TD STYLE="white-space: nowrap; width: 10%"><IMG SRC="asyousowlogo.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2024
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">DTE Energy Co. | Include Downstream Emissions in Climate Transition Planning</FONT></P>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="background-color: white">DTE's dependence on
technologies that are not currently cost-effective or scalable for its climate transition plan raises concern for investors, as the failure
of these solutions could prevent the Company from aligning with a </FONT>1.5&deg;C <FONT STYLE="background-color: white">trajectory, being
prepared for climate-related regulatory changes, or meeting customer demand for lower carbon energy.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in"><FONT STYLE="background-color: white"><U>Offsets
in Place of Actual Emission Reductions</U> &ndash; C</FONT>arbon offsets should not be used in place of emissions reductions since they
do not achieve actual reductions in value chain emissions. Instead, they should be strictly reserved for addressing residual emissions
as companies transition to 1.5<SUP>o</SUP>C alignment. Both the CA100+ Benchmark and SBTi&rsquo;s Net Zero Standard, which are considered
best practices in climate risk management, restrict use of offsets in achieving 1.5-aligned climate transition plans.<SUP>21</SUP> Moreover,
since customers must pay to participate in DTE&rsquo;s offset program, it shifts the financial responsibility of decarbonization onto
customers and prevents DTE from addressing climate risk systematically and strategically across the entire company.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in"><U>Electrification Potential</U> - In
contrast, electrification provides a scalable and cost-effective solution for reducing and/or eliminating downstream customer emissions
from natural gas. For instance, combining heat pumps with existing fuel heating systems, i.e., hybrid electrification, is a particularly
relevant strategy for Michigan&rsquo;s severe winter climate which allows for GHG emissions reductions while avoiding electric grid congestion
and related capacity upgrades and cost escalation.<SUP>22</SUP> Acknowledgement of this strategy and its long-term benefits, or any effort
to encourage customer transition to DTE&rsquo;s electric utility, is unmentioned in DTE&rsquo;s current disclosures.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">As long as DTE delays adopting a 1.5<SUP>o</SUP>C -aligned
climate transition plan across its full value chain, including its natural gas operations, the Company is exposed to disruptive risk,
reduced resilience, and competitive disadvantage. It also risks <FONT STYLE="background-color: white">forfeiting the earnings growth opportunities
associated with electrification</FONT>. By adopting a comprehensive climate transition plan responsive to the speed at which science,
technology, and policy are advancing to address climate change, DTE will provide shareholders with assurance that the Company is taking
responsibility for its role in decarbonizing the U.S. energy sector and managing its large exposure to material climate risk.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>3.</B></FONT></TD><TD><B>DTE lags peers <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">in accounting for Scope 3 emissions in
climate transition planning.</FONT></B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in">DTE&rsquo;s limited disclosure regarding
its plan for aligning its downstream emissions with global goals puts the Company behind its peers. Xcel, also a multi-utility with severe
weather considerations, is including electrification in its plan to meet net zero emissions across its entire gas segment by 2050. The
plan includes all-electric new buildings, grid-integrated electric water heaters, heat pump systems with natural gas backup for cooling
and heating and, potentially, district geothermal.<SUP>23</SUP> While Xcel&rsquo;s transition plan is still in development, its inclusion
of electrification demonstrates an understanding that gas utilities cannot fully rely on technologies that are not yet cost-effective
or readily scalable - such as hydrogen and RNG - to align with a 1.5&deg;C trajectory.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><SUP>21</SUP></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://sciencebasedtargets.org/resources/files/SBTi-Net-Zero-Standard-Corporate-Manual-Criteria-V1.0.pdf</FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">p.18</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><SUP>22</SUP></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://www.ceres.org/sites/default/files/reports/2023-09/Decarbonizing%20U.S.%20Gas%20Distribution%20An%20Investor%20Guide.pdf</FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">p.24</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><SUP>23</SUP></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://www.xcelenergy.com/staticfiles/xe-responsive/Net-Zero-Vision-for-Natural-Gas.pdf</FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">p.7</FONT></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="white-space: nowrap; width: 10%"><IMG SRC="asyousowlogo.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2024
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">DTE Energy Co. | Include Downstream Emissions in Climate Transition Planning</FONT></P>
                                                <P STYLE="margin-top: 0; margin-bottom: 0"></P></TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in">Further, peers with both electric and
gas utilities are setting net zero targets inclusive of their downstream emissions from natural gas combustion. This is highlighted by
Duke, Dominion, and Xcel, each of which have included Scope 3 use of sold products in their 2050 net zero targets.<SUP>24 </SUP><BR>
<BR>
</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9pt; background-color: #B8CCE4">RESPONSE TO DTE BOARD
OF DIRECTORS&rsquo; STATEMENT IN OPPOSITION</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">DTE says: <I>&ldquo;A similar proposal was brought in 2022 which related
to &ldquo;scope 3 emissions&rdquo; which are downstream or customer emissions by another name. This proposal is strikingly similar and
again asks DTE to set targets for emissions over which we lack control&hellip;.&rdquo;</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">The 2022 proposal to which DTE refers
garnered support from 28% of investors. Despite this and previous shareholder proposals and years of engagement, investors have seen
limited progress in the Company&rsquo;s efforts to disclose a quantifiable climate transition plan for its gas utility. While DTE does
not have control over how much natural gas its customers purchase, it does have control over the emissions profile of the fuel it provides.
Further, it can assist customers in supporting the transition to a low-carbon economy, including by switching to low-carbon appliances
and heating systems. Importantly, as a multi-utility with overlapping electric and natural gas service areas, DTE has the opportunity
to support electrification without losing customers to other utilities.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">DTE says: <I>&ldquo;Even among peer utilities
who have committed to downstream emissions reductions there remains lack of consensus on the best approach for measurement and reporting.&rdquo;</I></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">DTE has already disclosed Scope 3 emissions from its customers&rsquo;
use of sold products, which were calculated using emission factors provided by the U.S. Environmental Protection Agency (EPA).<SUP>25</SUP>
The disclosure, while an estimate, has revealed a significant emissions source that merits inclusion in the Company's climate transition
plan. In terms of direct measurement, greater value chain collaboration is leading to sector-wide development of Scope 3 accounting methodologies.
For example, initiatives such as the UN Oil and Gas Methane Partnership and Veritas are working with utilities and suppliers to advance
best practice in direct measurement of the full natural gas value chain.<SUP>26</SUP>&nbsp;Since DTE has already identified that emissions
from customers&rsquo; use of sold products are significant, it should not let the ongoing development of measurement approaches delay
the Company from incorporating downstream Scope 3 emissions into its climate transition plan.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">DTE says: <I>&ldquo;DTE Gas has also targeted a 35% reduction in greenhouse
gas emissions by our customers (those which are the subject of this proposal) through energy efficiency programs, an enhanced voluntary
green gas emissions offset program using renewable natural gas and carbon offsets, and utilizing advanced technologies aimed at lowering
emissions such as hydrogen and carbon capture.&rdquo;</I></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><SUP>24</SUP></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://co.my.xcelenergy.com/s/about/newsroom/press-release/xcel-energy-commits-to-net-zero-carbon-goal-by-2050-MCZE7IKJSPUBEI5K3MZ5D3AZ74UQ</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://www.asyousow.org/resolutions/2021/11/22-duke-climate-disclosures-or-other-measures-to-reduce-ghg-emissions</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://www.asyousow.org/resolutions/2021/11/22-dominion-climate-disclosures-or-other-measures-to-reduce-ghg-emissions-w5sjh</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><SUP>25</SUP></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://empoweringmichigan.com/wp-content/uploads/CDPClimateChangeQuesionnaire.pdf</FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">p.130</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><SUP>26</SUP></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://www.gti.energy/veritas-a-gti-methane-emissions-measurement-and-verification-initiative/</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://www.ogmpartnership.com/</FONT></P>

<P STYLE="color: #71C267; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.25in 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; color: #71C267; margin: 0pt 0.25in 0pt 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="white-space: nowrap; width: 10%"><IMG SRC="asyousowlogo.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2024
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">DTE Energy Co. | Include Downstream Emissions in Climate Transition Planning</FONT></P>
                                                <P STYLE="margin-top: 0; margin-bottom: 0"></P></TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">As presented above, while DTE has set an interim target for its customer
use of natural gas, such target does not align with 1.5&deg;C, and notably, the Company's net zero target does not encompass customer
use of natural gas. <FONT STYLE="background-color: white">DTE&rsquo;s disclosed strategy for reducing downstream</FONT> customer-use emissions
<FONT STYLE="background-color: white">is concerning to investors as it not only omits electrification but also relies on </FONT>technologies
not currently cost-effective or scalable. As noted above, reliance on offsets addresses none of the risks or opportunities presented by
climate change, responsive regulatory actions, or consumer and peer action on climate change.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">DTE says: &ldquo;<I>The front-end investment costs associated with
a transition to complete electrification of homes and businesses present significant economic hurdles. DTE&rsquo;s location in the upper
Midwest presents us with weather-related challenges to full residential and commercial electrification&hellip;&rdquo;</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">As a regulated utility, DTE&rsquo;s earnings are directly linked to
capital deployed via the rate base and concomitant cost recovery. As electric utilities are more capital-intensive than gas utilities,
electrification represents an earnings growth opportunity across the energy supply chain in generation, transmission, distribution, storage,
and end appliances. Gas utilities are largely restricted to distribution infrastructure and have limited opportunity to capitalize fuel
costs.<SUP>27</SUP></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Additionally, as referenced above, regulators are also providing incentives
to make electrification and energy efficiency measures more cost effective. In terms of DTE&rsquo;s weather-related challenges, hybrid
electrification will allow the Company to align with a 1.5&deg;C trajectory while meeting the particular demands of Michigan&rsquo;s weather-related
challenges.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9pt; background-color: #B8CCE4">CONCLUSION</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-size: 11pt"><B>Vote &ldquo;Yes&rdquo;
on this Shareholder Proposal to create a climate transition plan inclusive of the Company&rsquo;s downstream emissions&nbsp;from its natural
gas utility. </B>By failing to create a 1.5&deg;C-aligned transition plan for its gas business, DTE risks the long-term viability of its
gas segment, sacrificing investor interests, and forfeiting sectoral leadership in a rapidly decarbonizing economy. We urge a &ldquo;Yes&rdquo;
vote on</FONT> <FONT STYLE="font-size: 9pt">this resolution.</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>--</I></B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><I>For questions, please contact Kelly Poole, As You Sow, kpoole@asyousow.org</I></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">THE FOREGOING INFORMATION MAY BE DISSEMINATED TO SHAREHOLDERS VIA TELEPHONE,
U.S. MAIL, E-MAIL, CERTAIN WEBSITES AND CERTAIN SOCIAL MEDIA VENUES, AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE OR AS A SOLICITATION
OF AUTHORITY TO VOTE YOUR PROXY. THE COST OF DISSEMINATING THE FOREGOING INFORMATION TO SHAREHOLDERS IS BEING BORNE ENTIRELY BY ONE OR
MORE OF THE CO-FILERS. PROXY CARDS WILL NOT BE ACCEPTED BY ANY CO-FILER. PLEASE DO NOT SEND YOUR PROXY TO ANY CO-FILER. TO VOTE YOUR PROXY,
PLEASE FOLLOW THE INSTRUCTIONS ON YOUR PROXY CARD<I>.</I></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><SUP>27</SUP></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">https://www.ceres.org/sites/default/files/reports/2023-09/Decarbonizing%20U.S.%20Gas%20Distribution%20An%20Investor%20Guide.pdf</FONT></P>

<P STYLE="color: #71C267; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.25in 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">7</P>

<P STYLE="margin: 0"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
