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Poised for Growth
Investor Update: December 2017
1
Cautionary Statement Regarding Forward-Looking Information
Much of the information contained in this presentation is forward-looking information based upon management’s
current expectations and projections that involve risks and uncertainties. Forward-looking information includes, among
other things, information concerning earnings per share, rate case activity, earnings per share growth, cash flow,
dividend growth and dividend payout ratios, capital plans, construction costs, generating unit retirements, investment
opportunities, corporate initiatives (including any generation restructuring plan), rate base, and environmental matters
(including emission reductions). Readers are cautioned not to place undue reliance on this forward-looking
information. Forward-looking information is not a guarantee of future performance and actual results may differ
materially from those set forth in the forward-looking information.
In addition to the assumptions and other factors referred to in connection with the forward-looking information, factors
that could cause WEC Energy Group’s actual results to differ materially from those contemplated in any forward-
looking information or otherwise affect our future results of operations and financial condition include, among others,
the following: general economic conditions, including business and competitive conditions in the company’s service
territories; timing, resolution and impact of future rate cases and other regulatory decisions; the company’s ability to
continue to successfully integrate the operations of its subsidiaries; availability of the company’s generating facilities
and/or distribution systems; unanticipated changes in fuel and purchased power costs; key personnel changes;
varying weather conditions; continued industry consolidation; cyber-security threats; the value of goodwill and its
possible impairment; construction risks; equity and bond market fluctuations; the impact of any legislative and
regulatory changes, including changes to existing and/or anticipated environmental standards and tax laws; current
and future litigation and regulatory investigations; changes in accounting standards; and other factors described under
the heading “Factors Affecting Results, Liquidity, and Capital Resources” in Management’s Discussion and Analysis of
Financial Condition and Results of Operations and under the headings “Cautionary Statement Regarding Forward-
Looking Information” and “Risk Factors” contained in WEC Energy Group’s Form 10-K for the year ended December
31, 2016 and in subsequent reports filed with the Securities and Exchange Commission. WEC Energy Group
expressly disclaims any obligation to publicly update or revise any forward-looking information.
2
Company Statistics
$21.9 billion market cap (1)
1.6 million electric customers
2.8 million gas customers
60% ownership of ATC
69,000 miles electric distribution
46,000 miles gas distribution
$17.7 billion of rate base (2)
99+% regulated (3)
(1) As of 11/30/17
(2) 2016 average rate base
(3) Based on earnings from operations
3
Focused on the Fundamentals
“Across the corporation, our
employees are focused on the
fundamentals – safety,
efficiency, reliability, financial
discipline and customer care.
These fundamentals provide a
strong platform for sustainable
business. As we look toward the
future, we commit to serving
our customers and supporting
our communities as a
responsible corporate citizen.”
- Allen Leverett, WEC Energy Group
President
4
Focused on the Fundamentals
$0.00
$0.50
$1.00
$1.50
$2.00
$2.50
$3.00
$3.50
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Best in Midwest 7 years in a row
Ranked #2 in our sector
GAAP Adjusted
A Decade of Consistent EPS Growth
Best in America - 2017
5
Proven Track Record of Performance
EPS Guidance
2016 Exceeded
2015 Exceeded
2014 Exceeded
2013 Exceeded
2012 Exceeded
2011 Exceeded
2010 Exceeded
2009 Exceeded
2008 Exceeded
2007 Exceeded
2006 Exceeded
2005 Exceeded
* As reported by Thomson, Barclays Research
The only regulated utility
to beat guidance 10 years
in a row*
6
Increasing 5-Year Capital Plan by $2.1 billion
$1,659
$2,691
$2,601
$2,707
$5,234
$5,514
$230
$911
$-
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
2017-2021 2018-2022
Generation Electric Delivery Gas Delivery Energy Infrastructure
In millions
$9,724
$11,823
Former Pla
n
N
e
w
Pla
n
7
Line of Business View
Capital Plan Drives 5% to 7% EPS Growth
$343
$486
$242
$929
$739
$295
$498
$559
$540
$556
$511
$541
$1,136
$1,181
$1,159
$1,190
$996
$988
$230
$239
$30
$15
$309
$318
$-
$500
$1,000
$1,500
$2,000
$2,500
2017 2018 2019 2020 2021 2022
Energy Infrastructure
Gas Delivery
Electric Delivery
Generation
In millions
Approximately $12 billion projected capital spend from 2018-2022
plus ATC investment
$2,465
$1,971
$2,690
$2,555
$2,207
ATC Investment
$2,142
8
State View
Robust Capital Projection 2017-2022
$343
$486
$242
$929
$739
$295
$932
$1,001
$950
$958
$885
$924
$609
$639
$632
$677
$526
$525
$93
$100
$117
$111
$96
$80
$230
$239
$30
$15
$309
$318
$-
$500
$1,000
$1,500
$2,000
$2,500
2017 2018 2019 2020 2021 2022
Energy Infrastructure
MERC/MGU
Illinois
WI/MI Delivery
WI/MI Generation
In millions
Depreciation at the utilities expected to average $910 million annually
over the 2018-2022 period
$2,690
$2,465
$1,971
$2,555
$2,207
ATC Investment
$2,142
9
Generation
$2.5
21%
Energy
Infrastructure
$0.9
8%
Gas
Distribution
$5.0
42%
Technology
$0.9
8%
Electric
Distribution
$2.5
21%
Gas Distribution
SMP $1.5
Growth 0.7
System Renewal 1.4
Required Relocation 1.0
Manlove Storage 0.4
Total $5.0
Generation
New Gas $0.7
New Renewables 0.9
Maintenance Capital 0.9
Total $2.5
2018-2022 Capital Plan by Category
$ In billions
Electric Distribution
Growth $0.7
System Renewal 1.3
Required Relocation 0.2
SMRP 0.3
Total $2.5
Technology
Automated Meters $0.4
Systems and Equipment 0.5
Total $0.9 Total of $11.8 billion
10
$492
$516
$474
$387
$405
$366
$295
$310
$284
$232 $243 $220
$0
$100
$200
$300
$400
$500
$600
2017 2018 2019 2020 2021 2022
ATC WEC portion 60%
American Transmission Company
Key Assumptions
Average rate base: $3.3 billion
(2016)
Implies average $153 million
rate base growth
ROE currently under FERC
review
5-year WEC projected capital
investment:
Inside footprint: $1.3 billion
Outside footprint: $300 million
Projected Capital Expenditures
(Inside Traditional Footprint)
(in millions)
WEC portion of investment from 2018-2022 projected at $1.6 billion
11
Confident in Achieving Our EPS Growth Guidance
$1.00
$1.50
$2.00
$2.50
$3.00
$3.50
2015 2016 2017E 2018 2019 2020
* Excludes charges related to Integrys acquisition
2015 Base GAAP Adjusted*
(1) Growth rate off 2015 base of $2.72 per share, and an estimated EPS of $3.12 for 2017
(2) Guidance based on 2017 midpoint of $3.09
12
$0.80
$1.04
$1.20
$1.445
$1.56
$1.83*
$1.98
$2.08**
2010 2011 2012 2013 2014 2015 2016 2017
Solid Dividend Growth Continues
14.6% compound
annual growth rate
off 2010 base
Continuing to target
dividend payout of
65-70% of earnings
Projecting dividend
growth in line with
earnings growth
*Annualized based on fourth quarter 2015 dividend of $0.4575
**Annualized based on first quarter 2017 dividend of $0.520
Annualized Dividends Per Share
30.0%
Payout Ratios: 51% 58% 60% 67% 67%
15.4%
20.4%
8.0%
17.3%
8.2%
5.1%
5-7%
13
Earnings Growth Drivers
$2.7
2016 average rate base ($ billions)
Note: Power the Future value represents investment book value
$17.7 billion $12.8 $2.9 $2.0
Utility:
Projected capital spend
from 2018–2022:
Approximately $11.6 billion
ATC – Traditional Footprint:
Projected capital spend
from 2018-2022:
Approximately $1.3 billion
WEC ownership 60%
Outside the footprint:
Approximately $0.3 billion
WEC ownership 75%
Power the Future:
ROE of 12.7% on historical
and new investment
Projected capital spend
from 2018-2022:
Approximately $0.2 billion
Utilities PTF Transmission
C
o
re
i
n
v
estme
n
t
14
Focus on efficiency
Reshaping our Generation Fleet
for a Clean, Reliable Future
Our goal is to work with
industry partners,
environmental groups and
the state of Wisconsin with
a goal of reducing CO2
emissions by approximately
40 percent below 2005
levels by 2030.
Balancing reliability and customer cost with environmental stewardship
Taken as a whole, changes to our generation
fleet should reduce costs to customers, preserve
fuel diversity and reduce carbon emissions.
Reshaping our generation includes:
Retiring older, fossil-fueled generating units
Building state-of-the-art, natural gas
generation
Investing in cost-effective, zero-carbon
generation
15
Retiring Coal-Fueled Generation
Our plan includes retiring more than 1,800
megawatts (MW) of coal generation by 2020
Pulliam Power Plant
200 MW
Expected fall 2018 or later
Edgewater 4
WPS share – 100 MW
Expected end of third quarter 2018
Presque Isle Power Plant
350 MW
Expected mid-2019
Pleasant Prairie Power Plant
1,190 MW
Expected second quarter 2018
Achieving targeted CO2
reductions by 2022
16
Building Natural Gas-Fueled Generation
U.P. of Michigan (UMERC)
RICE generation
180 MW
Expected in-service – by mid-2019
West Marinette (WPS)
RICE generation
50 MW
Anticipated need – 2021
Option to invest in West Riverside Energy Center
Combined cycle
200 MW
2020-2022
Additional projects being actively developed
Reciprocating Internal
Combustion Engines
(RICE) are modular, run
on natural gas and
allow for reliable and
flexible operations.
400+ MW of natural gas-fueled generation
17
Investing in Zero-Carbon Generation
Solar
WPS – purchase 200 MW from developer
We Energies – purchase150 MW from developer
Qualifies for Investment Tax Credit (ITC)
Battery storage
Option to add as part of solar developments,
if cost effective
Qualifies for Investment Tax Credit (ITC)
Additional projects being actively developed
Solar generation technology
has greatly improved, become
more cost-effective and
complements our summer
demand curve.
350+ MW of zero-carbon generation in Wisconsin by 2020
18
-60%
-50%
-40%
-30%
-20%
-10%
0%
2005 2016 2022 2030
%
Red
u
cti
o
n
f
ro
m 20
0
5
Anticipated CO2 Reductions
Mass Rate
Achieving Our Carbon Goal
Reduction Goal
40% below 2005
19
51%
24%
25%
2016A
Coal Natural Gas Carbon Free
73%
7%
20%
2005A
Sources of Electric Energy Supply by Fuel Type
40%
34%
26%
2022 Estimated 2030 Aspirational
20
Increasing Natural Gas Distribution Investment
Electric
Generation
and Distribution
59%
Gas
Distribution
27%
Estimated Rate Base
at 12/31/2022
Average Rate Base
at 12/31/2016
Gas
Distribution
35% Electric
Transmission
14% Electric
Transmission
15% Electric
Generation
and Distribution
50%
21
Delivering the Future
• Converting 2,200 miles of
overhead lines and adding
distribution automation
equipment through our
System Modernization and
Reliability Project at WPS
• Phase 1 of project is 88%
complete
• Phase 2 of project is
underway
Infrastructure Resilience
• Major investments planned
to address aging
infrastructure
• Expect to spend $2.7 billion
over the next 5 years on
electric delivery
• Committed to delivering the
future with infrastructure
that will reduce operating
costs and meet new
environmental standards
Infrastructure Redesign
• Advanced metering
program that uses
integrated system of smart
meters to enable two-way
communication between
utilities and customers
• Upgrading the customer
information system at
We Energies
Technology Enhancements
22
Wisconsin Public Service
System Modernization and Reliability Project
Phase 1 – convert 1,200 miles
of overhead lines to underground
and add distribution automation
equipment on 400 miles
Project $220 million investment
Phase 2 – underground an
additional 1,000 miles
Project $210 million investment
Expect both phases to be complete by 2021
2017-2021 planned
Green Bay
Two Rivers
Kewaunee
Sturgeon Bay
Waupaca
Oshkosh
Tomahawk
Merrill
Wausau
Antigo
Stevens Point
2014-2016 completed
Minocqua
Rhinelander
Eagle River
Wausaukee
Menominee
Wabeno
23
Investment recovery under a monthly rider
Major Construction Projects – Peoples Gas
Natural Gas System Modernization Program
Project $280-$300 million average annual investment
Enabling legislation in effect from 2014-2023
Extensive effort to modernize natural gas infrastructure in city of Chicago
Ultimately replace 2,000 miles
23% complete*
*Total program completion percentage is based on the weighted average of program categories
that comprise the major scope components of the SMP project
24
Major Construction Projects – Wisconsin Utilities
Advanced Metering Infrastructure (AMI) Program
AMI is an integrated system of smart meters,
communication networks and data management
systems that enable two-way communication
between utilities and customers
Replaces aging meter-reading equipment on both
our network and customer property
Reduces manual effort for disconnects and
reconnects
Enhances outage management capabilities
Improves revenue protection and theft detection
Project to spend approximately $200 million over
the next four years
25
Acquisition of Bluewater
Natural Gas Holding
Bluewater entered into long-term service
agreements with the three Wisconsin gas
utilities
Total acquisition price: $230 million
Working gas capacity of 23.2 Bcf
Expected to provide a utility return on capital
Public Service Commission of Wisconsin
granted declaratory ruling and approval on
June 15, 2017
Closed acquisition on June 30, 2017
Well Positioned for the Future
Underground natural
gas storage facilities in
Michigan that will
provide one-third of the
storage needs for our
natural gas distribution
companies in Wisconsin
26
Major Construction Projects
New Generation in Upper
Peninsula
Provides a long-term generation solution for electric
reliability in Upper Peninsula
Estimated $266 million ($277 million including
AFUDC) investment to be made by new Michigan
utility – UMERC
Half of investment recovered in retail rates
Half of investment recovered by 20-year
agreement with Cliffs Natural Resources
Allows for retirement of Presque Isle Power Plant
Received approval and final written order on
October 25, 2017
~180 MW of clean,
natural gas-fired
Reciprocating Internal
Combustion Engine
(RICE) generation
Commercial operation
targeted for 2019
27
Foxconn in Wisconsin
Foxconn announced
July 26, 2017,
Wisconsin’s largest
economic development
project and largest
corporate attraction
project in U.S. history,
as measured by jobs.
Capital investment by Foxconn of $10 billion dollars
Goal of creating 13,000 jobs, with an average salary
of $53,875, plus benefits
Estimated 22,000 indirect jobs created throughout
Wisconsin
Largest greenfield investment by a foreign-based
company in U.S. history as measured by jobs
One of the largest manufacturing campuses
in the world
Project expected to support 10,000 construction
jobs over the next four years and 6,000 indirect
jobs from construction
Estimated $7 billion annual economic impact
on the state
Plans to be operational in 2020
Source: inWisconsin.com
28
Key Takeaways for WEC Energy Group
Track record of exceptional performance
Portfolio of premium businesses with investment
opportunities that can support 5-7 percent EPS growth
with minimal rate impact
Dividend growth projected to be in line with
earnings growth
Poised to deliver among the best risk-adjusted returns
in the industry
Appendix
30
Electric Distribution
Electric Transmission
60% ownership
Electric Generation
Non-Utility Energy
Infrastructure
Natural Gas Distribution
31
Still Recognizing Benefits from Acquisition
WEC Energy Group formed in 2015 when Wisconsin Energy
acquired Integrys in a transaction valued at $9 billion
Acquisition created the leading electric and natural gas
utility in the Midwest
WEC Energy Group’s subsidiaries combined are the eighth-largest
natural gas distributor in the U.S.
Met or exceeded WEC’s acquisition criteria
Accretive to earnings per share starting in first full calendar year of
combined operations
Largely credit neutral
Long-term growth prospects of combined entity equal to or greater than
stand-alone company
32
Sample Acquisition-Driven Initiatives
Category Activity
Supply Chain Achieving savings in consolidated vendor and supplier
contracts, negotiating most favorable terms
Information Technology Consolidating IT infrastructure
Implementing uniform processes and consolidating to a
single Enterprise Resource Planning (ERP) system
Customer Care Established consistent measurements of customer
satisfaction across all six utilities
Rolling out advanced metering functionality
Expanding mobile options for our customers
Deployed the Improved Customer Experience (ICE) project to
improve customer experience and streamline processes and
costs
Operations Implementing improved, standard order dispatch
Upgrading work management capabilities across the
Wisconsin fleet
33
Saving for Growth
Every dollar in O&M
savings results in
approximately $8 of
capital investment
opportunities, with no
expected impact to
customer rates
0
100
200
300
400
500
600
700
800
900
0 25 50 75 100
C
a
p
ita
l
D
e
p
lo
y
e
d
*
O&M Reduction* In millions
* Based on a 30-year utility project at Wisconsin Electric
Reduced O&M leads to incremental capital investment opportunities
34
Power the Future Investments
Port Washington Generating Station ranks seventh in nation for natural gas
combined-cycle heat rate
2
Elm Road Generating Station ranks fourth in nation for coal heat rate
2
Natural Gas Coal
Capacity 1,090 MW 1,030 MW
1
Investment $664 million $2 billion
1
ROE 12.7% 12.7%
Equity 53% 55%
In Service Dates Unit 1 – July 2005
Unit 2 – May 2008
Unit 1 – February 2010
Unit 2 – January 2011
Lease Terms 25 years 30 years
Cost Per Unit of Capacity $609/kW $1,950/kW
1. All capacity and investment amounts reflect WEC ownership only.
Demonstrated capacity for the coal units is 1,056 MW – value shown in table is amount guaranteed in lease agreement.
2. Source: Power Engineering
35
American Transmission Company –
Outside the Traditional Footprint
Joint venture between Duke Energy and ATC (DATC)
Ownership split 50/50 between Duke and ATC
WEC current ownership interest is 30%, potentially growing to 34%
Owns California’s Path 15 transmission line
Zephyr Power Transmission project
ATC-only outside the footprint
WEC interest: 75%
Joint venture between Arizona Electric Power Cooperative and ATC
(ATC Southwest)
Other transmission projects throughout the U.S.
Alaska
36
36% Large C&I by Segment
Paper 22%
Mining/Minerals 14%
Foundry (SIC 33) 11%
Other Manufacturing 8%
Food/Agriculture 8%
Metal (SIC 34,35,37) 6%
Medical 6%
Office 4%
Education 4%
Chemical 3%
Printing 3%
Other 11%
Balanced Sales Mix
Large C&I
36%
Residential
plus Farm
29%
Small C&I
35%
2016 Retail MWh Deliveries Mix*
*Wisconsin segment includes Michigan electric and retail choice customers in the Upper Peninsula
37
Diverse Portfolio of Regulated Businesses
Electric Generation
and Distribution
59%
Gas
Distribution
27% Electric
Transmission
14%
Based on 2016 average rate base
WI
70%
FERC
14%
IL
12%
MI/MN 4%
By Jurisdiction By Business
Note: Wisconsin jurisdiction includes UMERC
38
Composition of Rate Base
34.5%
16.4% 16.4%
10.7%
6.8%
1.1%
1.1%
1.7%
11.3% Wisconsin Electric
Power the Future
Wisconsin Public Service Corporation
Peoples Gas
Wisconsin Gas
Minnesota Energy Resources
North Shore Gas
Michigan Gas Utilities
ATC
Total 2016 Rate Base of $17.7 billion
39
0
20
40
60
80
100
120
140
AA - A A- BBB+ BBB BBB- Below
Investment
Grade
Strong Financial Condition
Number of
Issuers
*Source: Standard & Poor’s Financial Services LLC (January 31, 2017)
Utilities
Electric and Gas Utilities Credit Ratings Distribution*
Utility Rating
Wisconsin Electric A-
Wisconsin Gas A
Wisconsin Public Service A-
Peoples Gas A-
North Shore Gas A-
40
Manageable Levels of Refinancing
$-
$100
$200
$300
$400
$500
$600
$700
$800
$900
2018 2019 2020 2021 2022
Upcoming Debt Maturities
Hold Co WEPCO WPS PGL
No debt
maturities
in 2022
In millions
41
Balance Sheet Remains Strong
Holding Company Debt
to Total Debt
Funds from Operations/Debt
30%
2016 2017-2019E
0%
5%
10%
15%
20%
25%
30%
21%
16-19%
10%
12%
14%
16%
18%
20%
22%
2016 2017-2019E
Goal of 30%
or Less
No Equity Issuances Anticipated
42
Electric Residential Bills below National Average
$900
$950
$1,000
$1,050
$1,100
$1,150
$1,200
$1,250
$1,300
$1,350
National Avg Wisconsin Electric Wisconsin Public Service
2016 Average Electric Residential Annual Bill
Source: S&P Global Financial Focus Topical Special Report Issued May 31, 2017
43
Rate-Making Parameters by Company
Utility Equity Layer (1) Authorized ROE
Wisconsin Electric 48.5%-53.5% 10.2%
Wisconsin Public Service 49.0%-54.0% 10.0%
Wisconsin Gas 47.0%-52.0% 10.3%
Peoples Gas 50.33% 9.05%
North Shore Gas 50.48% 9.05%
Minnesota Energy Resources 50.32% 9.11%
Michigan Gas Utilities 52% 9.9%
1. Represents equity layer in rates
2. Wisconsin Electric and Wisconsin Gas earnings cap applies 2016-2019, Wisconsin Public Service cap
applies 2018 – 2019
Constructive regulatory environments
Earnings sharing mechanism at all Wisconsin utilities (2)
44
Constructive Rate Making Components
*Wisconsin Electric and Wisconsin Gas earnings cap applies 2016-2019, Wisconsin Public Service cap applies 2018-2019
Area
Illinois –
Gas
Minnesota –
Gas
Michigan–
Electric &
Gas
Wisconsin –
Gas
Wisconsin –
Electric
Gas Pipeline
Replacement Rider PGL
Bad Debt Rider X
Bad Debt Escrow
Accounting WE / WG WE
Decoupling X X
Fuel Cost Recovery 1 for 1 recovery of prudent fuel costs +/- 2% band
Manufactured Gas Plant
Site Clean Up Recovery X X X X N/A
Tax Rider
Investment
Capital Tax
Forward-looking test
years X X X 2 years 2 years
Earnings cap/sharing
50/50 first 50 bp above allowed
ROE, 100% to customers
beyond 50 bp*
45
Estimated Key Dates
Wisconsin (apps.psc.wi.gov)
Decision regarding proposed rate case settlement for all Wisconsin
utilities (Dockets: We Energies – 5-UR-108 and WPS – 6690-UR-125)
Receive approval on acquisition of Bluewater Natural Gas Holding Co.
Illinois (icc.illinois.gov)
Final written order on System Modernization Project (Docket 16-0376) Q1 2018
No rate case filing expected for 2018
Michigan (michigan.gov/mpsc)
Receive approval on proposed new generation of natural-gas-fired
Reciprocating Internal Combustion Engines (RICE) in the Upper
Peninsula (Docket U-18224)
Minnesota (mn.gov/puc)
Interim rates of $9.5 million or 3.8% effective January 1, 2018
Decision on proposed base rate increase of $12.6 million or 5.0%
Q1 2019
FERC (ferc.gov)
Decision on second MISO/ATC ROE Complaint (Docket EL15-45) Q2 2018
Regulatory and Open Docket Update
46
Regulatory Environment
Wisconsin
Governor Scott Walker (R)
Commission
Gubernatorial appointment,
Senate confirmation
Chairman: Gubernatorial appointment
6-year staggered terms
Michigan
Governor Rick Snyder (R)
Commission
Gubernatorial appointment,
Senate confirmation
Chairman: Gubernatorial appointment
6-year staggered terms
Wisconsin Commissioners
Name Party Began Serving
Term
Ends
Ellen Nowak
Chair
R 07/2011 03/2019
Mike Huebsch
R 03/2015 03/2021
Lon Roberts
R 03/2017 03/2023
Michigan Commissioners
Name Party Began Serving
Term
Ends
Sally Talberg
Chair
I 07/2013 07/2021
Norm Saari
R 08/2015 07/2019
Rachael
Eubanks
I 08/2016 07/2023
47
Regulatory Environment
Illinois
Governor Bruce Rauner (R)
Commission
Gubernatorial appointment, Senate
confirmation
Chairman: Gubernatorial appointment
5-year staggered terms
Minnesota
Governor Mark Dayton (D)
Commission
Gubernatorial appointment, Senate
confirmation
Chairman: Gubernatorial appointment
6-year staggered terms
Illinois Commissioners
Name Party Began Serving Term Ends
Brien Sheahan
Chair
R 01/2015 01/2020
Miguel del Valle D 02/2013 01/2018
John Rosales D 03/2015 01/2019
Sadzi Martha
Olivia
R 01/2017 01/2022
Open
Minnesota Commissioners
Name Party Began Serving Term Ends
Nancy Lange
Chair
D 02/2013 01/2019
John Tuma R 02/2015 01/2021
Dan Lipschultz D 01/2014 01/2020
Matt Schuerger R 01/2016 02/2022
Katie Sieben D 01/2017 01/2023
48
Regulatory Environment
FERC
Presidential appointment, Senate confirmation
5-year term
FERC Commissioners
Name Party Began Serving Term Ends
Neil Chatterjee
Chairman
R 08/2017 06/2021
Cheryl LaFleur D 07/2014 06/2019
Robert
Powelson
R 08/2017 06/2020
Richard Glick D 11/2017 06/2022
Kevin McIntyre R 11/2017 06/2023
49
Industry Leading Total Shareholder Returns*
Over the past decade, WEC Energy Group has consistently delivered among the best total
returns in the industry
* Total return including reinvested dividends for the 10 years ended December 31, 2016
0%
50%
100%
150%
200%
250%
One-Year Three-Year Five-Year Ten-Year
WEC Energy Group
Dow Jones Utilities
S&P Utilities
Philadelphia Utility Index
S&P 500 Index
50
Meeting and Exceeding Commitments
Commitments Results
Deliver among the best risk-
adjusted returns in the industry
8% EPS 10-Year CAGR and 14.6% dividend growth off the
2010 base
Reduce 2017 O&M by 3% off
2016 base
O&M reduction of more than 7% as of September 30, 2017
Maintain strong financial
condition
All utilities achieved “A” credit ratings
Deliver world-class reliability
We Energies named most reliable utility in America in 2017 and best in the Midwest for seven years running*
Provide exceptional customer
and community support
Named one of the TOP 50 Best Corporate Citizens by
Corporate Responsibility magazine, and ranked #2 in our
sector
Grow and leverage our gas
distribution and transmission
businesses
Diversified across four state jurisdictions and FERC
* As reported by PA Consulting Group on November 30, 2017
Contact Information
M. Beth Straka
Senior Vice President – Investor Relations
and Corporate Communications
Beth.Straka@wecenergygroup.com
414-221-4639
Ashley Knutson
Investor Relations Analyst
Ashley.Knutson@wecenergygroup.com
414-221-3339