Company: WELPM
Filing Date: 2025-03-27
Form Type: DEF 14C
Source: 0000107815-25-000155
Chunk: 77

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-03-27
Form: DEF 14C
Chunk 77
---
 A on page 44 for a full reconciliation of GAAP to non-GAAP earnings per share. The prior years reported in this table each show WEC Energy Group's earnings per share on a GAAP basis.

| Wisconsin Electric Power Company |     | 39 |     | 2025 Annual Meeting Information Statement |

Most Important Performance Measures

The following represents the most important financial performance measures used by WEC Energy Group and the Company to link compensation actually paid to each NEO for 2024, the most recently completed fiscal year, to company performance:

| WEC Adjusted Earnings Per Share |     | WEC Net Income |     | WEC Cash Flow |     | Return on Equity of 
 WEC Utilities       |

Achievement of WEC Energy Group's goals with respect to the financial measures highlighted above should drive strong TSR performance for WEC Energy Group relative to its peers, which is an important component of the compensation program as more fully described in “Compensation Discussion and Analysis – Long-Term Incentive Compensation".

#### Supplemental Graphs
The following graphs and descriptions are provided in accordance with Item 402(v) of Regulation S-K to show the relationships between the compensation actually paid for each of the PEOs, as well as the other NEOs as a group, to 1) the cumulative TSR of WEC Energy Group as it relates to the TSR of the Custom Peer Index Group, 2) WEC Energy Group net income, and 3) WEC Energy Group adjusted earnings per share, which is also the Company-selected performance measure for the 2024 fiscal year.

In 2022, Mr. Fletcher was succeeded by Mr. Lauber as CEO. Mr. Fletcher’s “compensation actually paid” includes the accelerated vesting of all unvested long-term incentive awards upon his retirement.

CAP v. TSR

As demonstrated in the following graph, the amount of compensation paid to the PEOs and the average compensation paid to the other NEOs was aligned with WEC Energy Group’s TSR performance. A substantial portion of the compensation awarded to each of the NEOs is long-term incentive compensation. WEC Energy Group performance unit awards comprise 65% of the long-term incentive compensation granted each year, with vesting primarily based upon WEC Energy Group’s TSR performance against its peer group. As discussed further in “Compensation Discussion and Analysis,” the performance units granted in 2022, which vested at the end of the three-year performance period ended December 31, 2024,