WEC Energy Group — Feb 4, 2025 release

On a weather-normal basis, natural gas deliveries were 0.1 percent lower during the year. The company reaffirmed its earnings guidance for 2025. Calendar year 2025 earnings are expected to be in a range of $5.17 to $5.27 per share. The midpoint of the range is $5.22 per share. This represents growth of 7.6 percent from the midpoint of the company’s 2024 adjusted guidance of $4.85 per share. On Jan. 16, the board of directors declared a quarterly cash dividend of 89.25 cents per share on the company's common stock, an increase of 6.9 percent over the previous dividend rate. This marks the 22 nd consecutive year that the company will reward its shareholders with higher dividends. Earnings per share listed in this news release are on a fully diluted basis. Non-GAAP Earnings Measures A reconciliation of GAAP net income and earnings per share to adjusted net income and earnings per share is included below for the full year ended Dec. 31, 2024 and 2023, as well as for the fourth quarter of 2023. There were no adjustments to GAAP net income or earnings per share in the fourth quarter of 2024. 2024 Reconciliation Net Income (in millions) 2024 Full Year WEC Energy Group GAAP $ 1,527.2   Loss related to ICC disallowances pre-tax 25.3        Tax impact (6.9) WEC Energy Group adjusted net income $ 1,545.6   Earnings Per Share 2024 Full Year WEC Energy Group GAAP $ 4.83   Net loss related to ICC disallowances 0.06   WEC Energy Group adjusted earnings per share (1) $ 4.88   Diluted average shares outstan