Item 2. Properties

Descriptions of CMS Energy’s and Consumers’ properties are found in the following sections of Item 1. Business, all of which are incorporated by reference in this Item 2:

• General—CMS Energy

• General—Consumers

• Business Segments—Consumers Electric Utility—Electric Utility Properties

• Business Segments—Consumers Gas Utility—Gas Utility Properties

• Business Segments—Enterprises Segment—Non-Utility Operations and Investments—Independent Power Production