WEC Energy Group (WEC) Proxy Filing summary

Executive summary

• Achieved strong financial and operational results in 2025, with 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, including major investments in natural gas and renewable generation.

• Maintained a robust governance structure, with a focus on board refreshment, diversity, and linking pay to performance.

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

Voting matters and shareholder proposals

• Election of 12 directors for one-year terms expiring in 2027.

• Ratification of Deloitte & Touche LLP as independent auditors for 2026.

• Advisory vote on executive compensation (say-on-pay).

• Amendments to eliminate supermajority voting requirements in Articles of Incorporation and Bylaws.

• Stockholder proposal to govern by majority vote, which the board recommends against.

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 utility, audit, risk, 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.