11/13/2019 e be 2019 EX-99.1 2 h :// . ec.g e be 2019 a .h a EXHIBIT 99.1 PRESENTATION SLIDES /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h 1/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 3/97 11/13/2019 Ca h a Sae e Rega d g F :// a d-L gI f a M ch f he e be 2019 f a c a ed h ee a f a d- g . ec.g f a ba ed a age e c e e ec a a d ec ha e a d ce a e .F a d- g f a c de , a g he h g , f a c ce g ea g e ha e, a e ca e ac , ea g e ha e g h, ca h , ce f e e e, d de d g ha dd de d a a , ca a a ,c c c , e e e ,c ae a e ( c d ga ge e a e ha g a ), a e ba e, a d e e a a e ( c d ge ed c ). Reade a e ca ed ace d e e a ce h f /A ch e /edga /da a/783325/000010781519000315/ a d- g f a .F a d- g f a a g a a ee f f e ef a ce a d ac a e a d ffe ae a f h e e f h e be 2019 he f a d- g f a . Fac ha c d ca e ac a e a .h d ffe ae a f h ec e a ed a f a d"Fac Affec g ae e g Re ,L d c de, b a e a d Ca a Re ed ce " : ge e a ec cc d Ma age e ' D c , c d gb e a dc e a dA a fF a ca C d ec d a d Re he c fO e a a ' e ce e e; g, e a d de he head g Ca a a d ac f a e ca e a d S a e e Rega d g F a d-L he eg a gI f a dec ; he c a d "R Fac a "c ab a ed c e cce f WEC E e g G F eg a e he e a f b d a e ; a a ab 10-K f he ea e ded Dece be 31, 2018, a d f he c a be e e ge e a g fac e a d/ d b e ed h he Sec e a d E cha ge C a ; a c a ed cha ge . WEC E e g G f e a d e e cha ed d ca a e c ; e b ga e e cha ge ; a g ea he c d b c da e e ea f a d- ;c g f ed a d .1 e c ga dc da ;c ed ad fd b ed ge e a b he c a c e ;e eg a de e a c e a eff ; he c a ' ab cce f ac e a d/ d e fa e a d ec ; c be - ec h ea a d da a ec b eache ; c c ;e a db d a e c a ; cha ge he c a a d b d a e ab acce he ca a a e ; he ac f a ef a da he eg a e a d eg a cha ge , c d g cha ge e e a a da d ; ca de e e ;c e a df e ga a d eg a e ga , ceed g e ; cha ge acc g a da d ; he a ca ef a ce f A e ca T a C .a e a ec h ch he c a e eg fa c eb e e ; he ab f he c a ba add a ge e a g ca ac a c e e ce ; g d a d be a e ;a d he fac de c bed de he head g 4/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 5/97 11/13/2019 e be 2019 C h :// . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a Sa c . $29.8 b a e ca * . 1.6 e ec c c e . 2.9 a a ga c e . 60% e h f A e ca T a C a . 70,100 e f e ec c d b . 49,000 e f ga d b . $34.4 b f a e . 8 h a ge a a ga d b U.S. ba ed c e . 11 h a ge b c a aded U.S. ea ed b a e a e*A f 10/31/2019 2 6/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 7/97 11/13/2019 e be 2019 De h :// . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 e g e ab e, aff dab e e e g 2019 Be CEO E ec c a .h c e . Red c g g ee h e ga e . a d Na a Ga I d B d ga d a a g afe, e e Ga e K a a fa c e. The e ea e c e d eB e W d de Maga e dec - a g, a d he e a e c ea . - Ga e K a a, WEC E e g G E ec e Cha a O e f A e ca Be E e Me be f he FTSE4G d I de Se e f D e f 2019 f ESG P ac ce F be FTSE R e Ve e a F e d a M e ab e 2019 M T ed U Ba d W ace 2018 he M d e Pe e Ga We E e g e We E e g e C ge S d ca ed U T ed USO W c PA C gB a d&C e E gage e S d 3 8/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 9/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 11/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 13/97 11/13/2019 e be 2019 S h :// . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h dD de d G hC e I Ja a , a ed he d de d b 6.8% aA a ed D de d Pe Sha e e a a a e f $2.36** $2.36 e ha e $2.21 $2.08 Ta ge gd de d $1.98 a f 65-70% f $1.83* ea g $1.56 $1.445 P ec gd de d g h e h $1.20 ea g g h $1.04 $0.80 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 *A a ed ba ed a f h a e 2015 d de d f $0.4575 **A a ed ba ed 1 a e 2019 d de d f $0.59 6 14/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 15/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 17/97 11/13/2019 e be 2019 C h :// . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h e S 5-7% EPS G h I c ea g F e-Yea Ca a P a b $900 $15,001 $14,114 $1,257 $1,427 $1,838 $1,436 $6,438 $5,920 $2,780 P a Ne $3,091 F e Pa F e $2,551 $2,377 $ I 2019-2023 2020-2024 Ge e a E ec c De e Ga De e *E eg I f a c e* ATC I e e ** * B e a e ca a e d ed f E eg I fa c e ca eg Ga De a e ca eg b h a ** ATC acc ed f g he e e h d; h e ee WEC f he e e 8 18/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 19/97 11/13/2019 e be 2019 2020-2024 Ca h :// . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a P a ($ b )T a f $15.0 b Ga D b E e g $5.7 I f a c e** 38% $1.8 12% Tech g $1.2 8% Ge e a $2.2 E ec c ATC 15% D b I e e * $2.8 $1.3 18% 9% * ATC acc ed f g he e e h d; h e ee WEC f he e e ** I c de $338 a e e Th de head W d E e g Ce e 9 20/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 21/97 11/13/2019 e be 2019 G ea e O h :// . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h e Na a Ga a d E e g I f a c e A e age A e Ba e P ec ed A e Ba e 12/31/2018 7% 12/31/2024 $19.8 b G h $30.2 b Ga D b Ga 29% Ga D b *D b * FERC 31% FERC Reg a ed 37% Reg a ed We P e E ec c 15% E ec c 15% We P e Ge e a 15% Ge e a E ec c E ec c a d D b a dD b Ge e a 11% Ge e a 50% a d T a a 56% a d D b D b 14% T a 39% 11% 35% I f a c eI f a c e <1% 6% * I c de B e a e Ga S age 10 22/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 23/97 11/13/2019 e be 2019 C h :// . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h de Ach e gO EPS G h G da ce $4.00 $3.50 2019 ea g $3.00 g da ce c ea ed $3.51-$3.53 e ha e. $2.50 $2.00 $1.50 $1.00 2015 2016 2017 2018 2019E 2015 Ba e GAAP Ad ed* *See A e d f ec c a f ad ed a GAAP a (1) 6.7% a a a e age g h a e ca c a ed f 2015 ba e f $2.72 e ha e a d e d f 2019 ea a g g da ce (2) Ba ed g a 2019 g da ce d f $3.50 e ha e 11 24/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 25/97 11/13/2019 e be 2019 E ec c a d Ga Ra e Ca e Se e e h :// . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 We E e g e & W c P b c Se ce PSCW a a .h ed a e e e e Oc be 31 E ec ece e a e de b e d f 2019 A h ed Re e : W c E ec c 10.0% W c Ga 10.2% W c P b c Se ce 10.0% Ca a c ee c e a a h ee e - 52.5% U da ed Ea g Sha g Mecha : WE & WPS WG T ea e 10.00 10.25% 10.20 10.45% N ha g 10.25 10.75% 10.45 10.95% 50/50 ha g >10.75% >10.95% 100% c a e W c E ec c ee a a c g de ec e $100 f he e a gb ba a ce f he P ea a P a eP e Pa F a ea e f WPS e e a e e a We U 3 be de e ed Dec e ec ed N e be 12 26/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 27/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 29/97 11/13/2019 e be 2019 W c h :// . ec.g /A ch e /edga /da a/783325/000010781519000315/ U e I e g Ze -Ca b e be 2019 Ge e a S a ge e a ech g ha ed a .h ef c e c , bec e ec -effec ea dc e e e de a d c e. W c E ec c, W c P b c Se ce a d Mad Ga & E ec c a e a e g a a a e. I add ,W c E ec c gf ad a e e e ab e ga f 185 MW f ca b -f ee ge e a .E a ed P ec U L ca I e e Ca ac ** C e Badge H S a Pa WPS I aC , WI $130M 100MW 2020 T a C ee S a P ec WPS T R e , WI $130M 100MW 2020 Badge H II S a Pa * WE I aC , WI $130M 100MW 2021 *F ed f PSCW a a A g 1, 2019 **Mad Ga & E ec c a add a 50 MW a each e 14 30/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 31/97 11/13/2019 e be 2019 I fa h :// . ec.g /A ch e /edga /da a/783325/000010781519000315/ c eP e be 2019 f I e e E ec ed de e ha a e h ghe ha a .h h e eg a ed b e A ae d-8% e e ed e a ae f e E ec ed a f f 100% b de ec a a d d c a c ed P ec I e e Off a e Ag ee e Ca ac U ea W d Af ae fA a $276M f 80% e h 200MW E e g Ce e 10- B h H III W d WPPI E e g $166M f 90% e h 132MW E e g Ce e 22- C e R dge W d $145M ec ed f 80% G geE eg a 97MW Fa * e h a d 99% f a be e 12- Th de head W d $338M ec ed f 80% AT&T 300MW E e g Ce e * e h 12- *C g ec ed a he e d f 2019 f C e R dge, a d he e d f 2020 f Th de head 15 32/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 33/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 35/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 37/97 11/13/2019 e be 2019 Me ha e Red c h :// . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h G a 0% Red c G a :* -10% -20% 30% b he ea 2030 -30% f a 2011 ba e e -40% 2011 2018 2030 *Th g a e e e a dec ea e he a e f e ha e e f he a a ga d b e e f 30% e eb he ea 2030 f a 2011 ba e a e. 18 38/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 39/97 11/13/2019 e be 2019 E h :// . ec.g /A ch e /edga /da a/783325/000010781519000315/ e a,S ca &G e be 2019 e a ce F c Red ce ca b d de e b a a .h ae 40% be Ca b G a 2005 e e b 2030 a d 80% be 2005 e e b 2050 Me ha e Red ce he a e f e ha e e b 30% e ef a Red c G a 2011 ba e e b 2030 15.1 A fc b d c f be e c a e ded e e c he a 18 ea $0.9 b P a ed e e ab e e e be ee 2020-2024 $17.3 D a ed b c a e a df da ga a 2018. 46% d e a B a d f d ec h a e fe a e a d/ e h ca d e e $263.1 S e h ce ed , e - ed, e e a - ed e ce d ab ed- ed b e e 2018 $123.1 S e e e g ef c e c a d c e a 2018 19 40/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 41/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 43/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 45/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 47/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 49/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 51/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 53/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 55/97 11/13/2019 e be 2019 De h :// . ec.g /A ch e /edga /da a/783325/000010781519000315/ e g he F eP ec H gh gh E ec c Rede g / Re e ce Na a Ga S e Tech g E ha ce e M de a P ga Ma e e be 2019 e a ed Ad a ced ee g ga add e ag g fa a .h c e E e e eff de e e eg a ed e f a E ec e d $2.8 b e he a a ga fa c e ee e ab e - a e 5 ea e ec c de e c f Ch cag c ca be ee e a dc e C ed de e g he f e U ae PGL e ec ed h fa c e ha ed ce e ace 2,000 e f g U g ad g We E e g e ea gc a d ee e P ec $280-300 a c e f a e e e a a da d a a a e age e e P ec e d $1.2 b I a g 2,200 e f de g d I a a h e de (2020 2024) ac f c c e ace be e h gh 2023 a e e e e e head e , a d add g d b a a e e h gh S e M de a a d Re ab P ec a WPS 27 56/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 57/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 59/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 61/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 63/97 11/13/2019 e be 2019 I fa h :// . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 c eI e e B h a .h H III W d E e g Ce e De e ed b I e eg a d aced e ce Ma 2018 L ca ed He C ,I 53 GE d b e h a ca ac f 132 MW T a e e : $166 f a 90% e h ee E ec ed de e ha a e h ghe ha h e eg a ed b e A ae d-8% e e ed e a ae f e E ec ed a f f 100% b de ec a a d d c a c ed a 22- ea ff a e ag ee e hac e h e aec e , WPPI E e g Ac f he a 80% ee c ed A g 31, 2018 I c e e a 10% e ee c ed Dece be 5, 2018 31 64/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 65/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 67/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 69/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 71/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 73/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 75/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 77/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 79/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 81/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 83/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 85/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 87/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 89/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 91/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 93/97 11/13/2019 h :// e be 2019 . ec.g /A ch e /edga /da a/783325/000010781519000315/ e be 2019 a .h a 95/97