Company: WELPM
Filing Date: 2025-03-27
Form Type: DEF 14C
Source: 0000107815-25-000155
Chunk: 21

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-03-27
Form: DEF 14C
Chunk 21
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 increased the dividend for the 21 st consecutive year. In January 2024, the WEC Energy Group Board raised the quarterly dividend 7.0% to $0.835 per share, equivalent to an annual rate of $3.34 per share. In January 2025, the WEC Energy Group Board again increased the quarterly dividend 6.9% to $0.8925 per share, which is equivalent to an annual rate of $3.57 per share, in line with WEC Energy Group’s plan to maintain a dividend payout ratio of 65% to 70% of earnings. Overall, WEC Energy Group and the Company also turned in strong performances against several important operational and social measures during 2024, including customer satisfaction and supplier and workforce diversity, while continuing to maintain effective cost controls.

Capital Plan . WEC Energy Group's five-year capital plan, which is updated annually, calls for emissions reductions, maintaining superior reliability, delivering significant long-term savings for customers and growing its investment in the future of energy. On October 31, 2024, WEC Energy Group announced its planned capital investment for the next five-year period (2025-2029). WEC Energy Group expects to invest approximately $28.0 billion over the five-year period in its regulated and non-utility energy infrastructure businesses, including approximately $9.1 billion of regulated renewable investment. WEC Energy Group has already retired nearly 2,500 megawatts (MW) of fossil-fueled generation since the beginning of 2018, and expects to retire approximately 1,200 MW of additional coal-fired generation by the end of 2031. WEC Energy Group announced that by the end of 2030 it expects to use coal only as a backup fuel for the power supplied to its customers, and plans to eliminate coal as an energy source by the end of 2032.

In addition to its carbon dioxide emissions reductions, WEC Energy Group also continued to reduce its methane emissions by improving its natural gas distribution systems, including our system. WEC Energy Group set a target across its natural gas distribution operations to achieve net-zero methane emissions by the end of 2030.

| Wisconsin Electric Power Company |     | 11 |     | 2025 Annual Meeting Information Statement |

Other specific achievements during 2024 of WEC Energy Group and the Company include:

### 2024 Financial Highlights
• WEC Energy Group achieved fully diluted earnings per share and adjusted earnings per share of $4.83