Company: WELPM
Filing Date: 2025-03-27
Form Type: DEF 14C
Source: 0000107815-25-000155
Chunk: 40

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-03-27
Form: DEF 14C
Chunk 40
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 will be measured includes:

| •   Alliant Energy Corporation      |     | •   Consolidated Edison, Inc. |     | •   Eversource Energy  |     | •   Pinnacle West Capital Corp. |
| •   Ameren Corporation              |     | •   Dominion Energy, Inc.     |     | •   Exelon Corporation |     | •   PPL Corporation             |
| •   American Electric Power Company |     | •   DTE Energy Co.            |     | •   FirstEnergy Corp.  |     | •   The Southern Company        |
| •   CenterPoint Energy, Inc.        |     | •   Duke Energy Corp.         |     | •   NiSource Inc.      |     | •   Xcel Energy Inc.            |
| •   CMS Energy Corporation          |     | •   Evergy, Inc.              |     | •   OGE Energy Corp.   |     |                                 |

The peer group is chosen by the Compensation Committee, based upon management’s recommendation and with the concurrence of FW Cook. This peer group was chosen because we believe these companies are similar to WEC Energy Group in terms of business model, long-term strategies and risk profile, with a primary focus on regulated utility operations rather than a non-regulated business model. There is significant overlap between the performance unit peer group and the comparison group developed by FW Cook for purposes of benchmarking compensation levels. However, there are several companies that are different among the two groups because FW Cook places significant weight on the financial metrics of the companies included in its comparison group, whereas we focus more on operational measures for the performance unit peer group.

Under the Amended PUP, total stockholder return is the calculation of total return (stock price appreciation plus reinvestment of dividends) based upon an initial investment of $100 made at the beginning of the three-year performance period. The required percentile ranking for 3-year total stockholder return and the applicable vesting percentage are set forth in the chart below.

| Performance Percentile Rank |     | Vesting Percent |
| < 25thPercentile            |     | 0%              |
| 25thPercentile              |     | 25%             |
| Target (50thPercentile)     |     | 100%            |
| 85thPercentile or above     |     | 200%            |

If WEC Energy Group’s rank is between the benchmarks identified above, the vesting percentage will be determined by interpolating