WEC Energy Group (WEC) Proxy filing summary

Executive summary

• Achieved strong financial and operational results in 2025, including record net income and earnings per share, and a 6.7% dividend increase in January 2026, marking 23 consecutive years of dividend growth.

• Announced a $37.5 billion five-year capital plan to support safety, reliability, and growth, with significant investments in natural gas and renewable generation.

• Maintained a robust governance structure, with rigorous incentive compensation metrics linking pay to performance and proposals to simplify voting standards.

• Employees achieved record safety performance, and the company was recognized for reliability, customer satisfaction, and ESG leadership.

Voting matters and shareholder proposals

• Stockholders will vote on: election of 12 directors, ratification of Deloitte & Touche LLP as auditors, advisory say-on-pay, amendments to eliminate supermajority voting in Articles and Bylaws, and a shareholder proposal to govern by majority vote.

• Board recommends FOR all management proposals (including eliminating supermajority voting) and AGAINST the shareholder proposal.

Board of directors and corporate governance

• 11 of 12 director nominees are independent; 50% of nominees are diverse by gender or race/ethnicity.

• Board refreshment added 6 new independent directors since 2020, focusing on regulated industry, audit, risk, technology, and sustainability expertise.

• Board succession planning and director nomination process emphasize diversity, independence, and relevant experience.

• Board leadership structure to combine CEO and Chairman roles in May 2026, with an Independent Lead Director role maintained.

• Annual board and committee evaluations drive continuous governance improvements.