1 Investing in Efficiency, Sustainability and Growth Investor Update: March 2024

2 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, sources of revenue, dividend growth and dividend payout ratios, sales volumes, capital plans, credit ratings, credit metrics, debt-financings, construction costs, investment opportunities, corporate initiatives (including the ESG Progress 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. Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements include, but are not limited to: general economic conditions, including business and competitive conditions in the company’s service territories; timing, resolution and impact of rate cases and other regulatory decisions, including rider reconciliations; 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; unusual, varying or severe weather conditions; continued industry restructuring and consolidation; continued advances in, and adoption of, new technologies that produce power or reduce power consumption; energy and environmental conservation efforts; electrification initiatives, mandates and other efforts to reduce the use of natural gas; the company’s ability to successfully acquire and/or dispose of assets and projects and to execute on its capital plan; terrorist, physical or cyber-security threats or attacks and data security breaches; construction risks; labor disruptions; equity and bond market fluctuations; changes in the company’s and its subsidiaries’ ability to access the capital markets and shareholder approval of related proposals; changes in tax legislation or our ability to use certain tax benefits and carryforwards; federal, state, and local legislative and regulatory changes, including changes in rate-setting policies or procedures and environmental standards, the enforcement of these laws and regulations or permit conditions and changes in the interpretation of regulations by regulatory agencies; supply chain disruptions; inflation; political or geopolitical developments, including impacts on the global economy, supply chain and fuel prices, generally, from ongoing, escalating, or expanding regional conflicts; the impact from any health crises, including epidemics and pandemics; current and future litigation and regulatory investigations, proceedings or inquiries; changes in accounting standards; the financial performance of the American Transmission Company as well as projects in which the company’s energy infrastructure business invests; the ability of the company to obtain additional generating capacity at competitive prices; goodwill and its possible impairment; 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, 2023, and in subsequent reports filed with the Securities and Exchange Commission. Except as may be required by law, WEC Energy Group expressly disclaims any obligation to publicly update or revise any forward-looking information.

3 The Premier Energy Company in America’s Heartland * As of February 29, 2024 $24.8 billion market cap* 4.7 million retail customers 60% ownership of American Transmission Company $43.9 billion of assets

4 A History of Quality Earnings Growth $0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 GAAP Adjusted** 2024 Guidance * Estimated based on 2024 guidance midpoint of $4.85 per share. ** See Appendix for reconciliation of adjusted amounts to GAAP amounts. $4.80-$4.90

5 EPS Guidance 2023 Exceeded*  2022 Exceeded  2021 Exceeded  2020 Exceeded  2019 Exceeded  2018 Exceeded  2017 Exceeded  2016 Exceeded  2015 Exceeded  2014 Exceeded  2013 Exceeded  2012 Exceeded  2011 Exceeded  2010 Exceeded  2009 Exceeded  2008 Exceeded  2007 Exceeded  2006 Exceeded  2005 Exceeded  2004 Exceeded  The only utility to beat guidance every year for 20 years running. Consistent Performance Over Time * On an adjusted basis, excluding a noncash charge of 41 cents per share

6  In January, raised the dividend by 7.0% to a new annual rate of $3.34 per share*  Marks the 21st consecutive year of rewarding shareholders with higher dividends  Top decile dividend growth in industry**  Added to S&P's High Yield Dividend Aristocrats Index Strong Dividend Growth Continues * Annualized based on the first quarter of 2024 dividend of 83.5 cents per share ** Reflects current and expected dividends declared in 2024

8  Affirmed 2024 earnings guidance of $4.80 to $4.90 per share*  In light of one of the warmest winters in history, first-quarter earnings guidance lowered to a range of $1.89 to $1.91 per share  Previous first-quarter earnings guidance was $1.96 to $2.00 per share  First-quarter 2023 earnings were $1.61 per share Earnings Guidance Update *Assumes normal weather going forward

9 $9.3 $9.5 $1.0 $1.0 $3.7 $3.8 $6.0 $5.2 $3.0 $3.0 $0.4 $1.2 $23.4 $23.7 2024-2028 2024-2028 Energy Infrastructure ATC* Gas Delivery** WI/MI Electric Delivery WI LNG Capacity WI/MI Generation U p d a te d p la n N o v e m b e r 2 0 2 3 p la n $ In billions *ATC is accounted for using the equity method; this represents WEC Energy Group’s portion of the investment. ** Includes all gas utilities and Bluewater. 2024-2028 Capital Plan Increasing Five-Year Capital Plan by $300 Million

10 Capital Plan – Key Drivers  Illinois gas delivery: - $800 million  Energy infrastructure: + $800 million  Regulated renewables: + $200 million  Electric delivery: + $100 million 2024-2028 Capital Plan

11  The Illinois Commerce Commission (ICC) ordered Peoples Gas to pause all spending on the Safety Modernization Program until it determines ‘the optimal method’ of pipe replacement and investment level.  ICC granted the company’s request for a limited rehearing seeking to restore $145 million of costs largely related to unfinished and emergency work under the Safety Modernization Program.  We expect the commission to issue an order by June 1, 2024.  ICC also opened a new docket to examine the Future of Gas across the state of Illinois.  This review is expected to take at least one year to complete.  In 2023, the company booked a non-cash charge of 41 cents per share related to the disallowance of construction costs for modern service centers and facilities. At the appropriate time, we will appeal the decision in court. Illinois Proceedings

12 $29.4 billion $43.4 billion 2023A 2028E* Robust Growth in Asset Base *Estimated year-end average asset base. Expect compound annual EPS growth of 6.5% to 7.0% 8.1% Growth

13 Business Portfolio Growing in Electric Transmission and Generation 2028E*2023A Electric generation and distribution 48% Natural gas distribution 35% WECI 7% Electric transmission** 10% ** ATC is accounted for using the equity method; this represents WEC Energy Group’s portion of the asset base. Electric generation and distribution 52% Natural gas distribution 30% WECI 6% Electric transmission** 12% * Based on estimated year-end average asset base.

14 We now plan to eliminate coal as an energy source three years earlier - by end of 2032.  Retirements planned:  Oak Creek Units 5-6: 528 MW (May 2024)  Oak Creek Units 7-8: 611 MW (late in 2025)  Columbia Units 1-2: 300 MW (by June 1, 2026)  Weston Unit 3: 328 MW (end of 2031)  Enhancing fuel flexibility (gas blending) at Oak Creek Power the Future units and Weston Unit 4.  By end of 2030, we expect to use coal only as a backup fuel. Exiting Coal