Exhibit 99.1 From: Brendan Conway (media) 414-221-4444 brendan.conway@wecenergygroup.com Beth Straka (investment community) 414-221-4639 beth.straka@wecenergygroup.com May 1, 2024 WEC Energy Group reports first-quarter results MILWAUKEE – WEC Energy Group (NYSE: WEC) today reported net income of $622.3 million, or $1.97 per share, for the first quarter of 2024 – up from $507.5 million, or $1.61 per share, in last year's first quarter. Consolidated revenues totaled $2.7 billion, down $207.9 million from the ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ___________________ | Commission File Number | Registrant; State of Incorporation; Address; and Telephone Number | IRS Employer Identification No ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ___________________ Commission File Number Registrant; State of Incorporation; Address; and Telephone Number IRS Employer Identification ...

Financial Data and Key Metrics Changes - The company reported third quarter 2023 earnings of $1 per share, an increase of $0.04 per share compared to the third quarter of 2022 [7][28] - The earnings guidance for the year is reaffirmed at a range of $4.58 to $4.62 per share, with expectations to complete the year in the upper half of this range [8][33] - Earnings from utility operations increased by $0.18 compared to the third quarter of 2022, driven by rate base growth and improved timing of fuel expenses [29] Business Line Data and Key Metrics Changes - Retail electric deliveries in Wisconsin, excluding the iron ore mine, decreased by 0.8% quarter-over-quarter, primarily due to lower sales volumes to large commercial and industrial customers [30] - Earnings from the Energy Infrastructure segment decreased by $0.01 compared to the third quarter of 2022, mainly due to lower wind production [32] Market Data and Key Metrics Changes - The unemployment rate in Wisconsin stands at 3.1%, which is below the national average, indicating a positive economic environment [15] - Significant investments are being made in the Milwaukee region, particularly in the I-94 corridor, with companies like Microsoft and Haribo expanding their operations [10][16] Company Strategy and Development Direction - The company plans to invest $23.4 billion in its ESG progress plan for 2024-2028, marking a $3.3 billion increase from the previous five-year plan [9] - The new five-year plan anticipates an average asset base growth of 8.1% per year and a compound annual earnings per share growth rate of 6.5% to 7% [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to execute its growth strategy, emphasizing the importance of investments in renewable energy and infrastructure to meet future demand [14][19] - The company aims to reduce CO2 emissions from its power generation fleet by 80% by the end of 2030, with a potential complete exit from coal by 2032 [14][88] Other Important Information - The company continues to target a dividend payout ratio of 65% to 70% of earnings, with expectations for dividend growth to align with earnings growth [26] - The financing plan for the next five years includes 65% of cash needs funded by cash from operations, 28% from debt, and 7% from equity issuance [34] Q&A Session Summary Question: How should the market view the balance sheet capacity and equity guidance? - Management indicated that about $400 million of the equity raise is a one-time catch-up to support strong credit metrics, with incremental capital likely requiring about 50% equity [41][42] Question: What is the profile of the $3.3 billion CapEx increase? - The increase will be more dominated by transmission investments in the early years, with generation and LNG facilities contributing more in later years [43][44] Question: What is the status of the Illinois rate case? - A final decision is expected by the end of November, with a proposed order recommending a 9.83% return on equity [22][57] Question: How does the company view the impact of the coal exit on customer bills? - Management believes there will be minimal impact on customer bills, as the transition from coal to natural gas will not significantly change the output from the plant [85][86] Question: What is the expected FFO to debt ratio with the new investment program? - The company targets an FFO to debt ratio of 15% to 16%, which is expected to be achieved with the additional equity and investment [83][84]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ___________________ Commission File Number Registrant; State of Incorporation; Address; and Telephone Number IRS Employer Identification No. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ___________________ Commission File Number Registrant; State of Incorporation; Address; and Telephone Number IRS Employer Identification No. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | For the transition | period from ________________ to | ___________________ | | --- | --- | --- | | Commission File Number | Registrant; State of Incorporation; Address; and Telephone Number | IR ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ___________________ Commission File Number Registrant; State of Incorporation; Address; and Telephone Number IRS Employer Identification No. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ___________________ Commission File Number Registrant; State of Incorporation; Address; and Telephone Number IRS Employer Identification No. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ___________________ Commission File Number Registrant; State of Incorporation; Address; and Telephone Number IRS Employer Identification No. 001- ...