Slide 1: Wolfe Research Conference Presentation
Wolfe Research Conference Presentation NextEra Energy October 1, 2025 NextEra Energy 1
Slide 2: Cautionary Statements and Risk Factors That May Affect Future Results
Cautionary Statements and Non-GAAP Financial Other Risk Factors That May Affect Information See Appendix for definition of Future Results This presentation refers to Adjusted Earnings expectations. This presentation includes certain financial measures that forward-looking statements were not prepare
Slide 3: NextEra Energy has the team and platform to power America
NextEra Energy has the team and platform to power America ~$252 B Enterprise Value1 ~75 GW in Operations2 Largest electric utility Largest energy infrastructure in the U.S. developer in the U.S. Supply Chain & Buying Power Customer Network Market Knowledge Operating Scale Artificial Intelligence Dat
Slide 4: We are America's premier energy infrastructure development company
We are America’s premier energy infrastructure development company America’s largest gas-fired One of America’s largest generation fleet nuclear fleets America’s leading transmission utility and World leader in renewables1 leading competitive transmission developer Last company in America to World l
Slide 5: FPL's proposed rate settlement would keep bills low and support continued infrastructure investments
FPL’s proposed rate settlement would keep bills low and support continued infrastructure investments Key Takeaways Next Steps 1 Minimum four-year term starting in 2026 Final hearing starts Oct. 6 2 10.95% midpoint ROE; Equity ratio unchanged at 59.6% Post-hearing briefs due Nov. 7 3 Non-cash mechani
Slide 6: Certain wind and solar projects are eligible for tax credits through 2030
Certain wind and solar projects are eligible for tax credits through 2030; new energy storage and nuclear have even longer runways Phase Out of Federal Tax Credits1 Wind 20302 Solar 20302 Storage 20392 Nuclear 20392 1. Based on One Big Beautiful Bill Act (July 2025) and Treasury guidance (August 202
Slide 7: Storage offers compelling speed-to-market and cost advantages as capacity needs grow
Storage offers compelling speed-to-market and cost advantages as capacity needs grow across the U.S. Levelized cost of capacity1,2 Comparing Capacity Resources 2025, $/KW-mo $22 Battery $21 Gas Peaker $19 Storage $19 $17 $17 $15 $16 $15 $15 Meets capacity needs $12 $13 $12 $11 Equipment ~12 months ~
Slide 8: Our continued track record across the last two decades speaks for itself
Our continued track record across the last two decades speaks for itself Adjusted EPS CAGR1 10.8% 10.4% 10.4% 10.0% 8.9% 8.5% 5.8% 3.2% 3.1% 3.3% 2.8% 2.1% 3 Year 5 Year 7 Year 10 Year 15 Year 20 Year NEE Utility Avg 1. As of December 31, 2024; FactSet; utility Average of top 10 utilities based on m
Slide 9: NextEra Energy is well positioned to capitalize on key long-term earnings growth drivers
As the leading power infrastructure company in the U.S., NextEra Energy is well positioned to capitalize on key long-term earnings growth drivers Illustrative timeline of when we expect investments to drive earnings growth Key Growth Drivers 2025 2029 2030 Regulated Businesses Florida Power & Light
Slide 10: Appendix
Appendix NExTera’ ENESGY
Slide 11: NextEra Energy remains well positioned to continue our strong adjusted earnings per share growth
NextEra Energy remains well positioned to continue our strong adjusted earnings per share growth NextEra Energy’s Financial Expectations1 6%–8% off 2024 adjusted EPS range2 $3.85– $4.32 • Expect 6 to 8% annual growth rate through $3.63– 2027, off the 2024 adjusted EPS $4.00 $3.45– expectations range
Slide 12: Reconciliation of Earnings Per Share Attributable to NextEra Energy, Inc. to Adjusted Earnings Per Share
Reconciliation of Earnings Per Share Attributable to NextEra Energy, Inc. to Adjusted Earnings Per Share1 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 20162 20172 2018 2019 2020 2021 2022 2023 2024 Earnings Per Share Attributable to NextEra Energy, Inc $ 0.62 $ 0.58 $ 0.81 $ 0.82 $ 1.
Slide 13: Definitional information
Definitional information NextEra Energy, Inc. Adjusted Earnings Expectations (including subsidiaries as applicable) This presentation refers to adjusted earnings per share expectations. NextEra Energy does not provide a quantitative reconciliation of forward-looking adjusted earnings per share to ea
Slide 14: Cautionary Statement And Risk Factors That May Affect Future Results
Cautionary Statement And Risk Factors That May Affect Future Results This presentation contains “forward-looking results to differ materially from those expressed to NextEra Energy; effects on NextEra Energy of involved in the operation and maintenance of statements” within the meaning of the safe o
Slide 15: Cautionary Statement And Risk Factors That May Affect Future Results (cont.)
Cautionary Statement And Risk Factors That May Affect Future Results (cont.) risk of increased operating costs resulting from limited liquidity in over-the-counter markets; ability to fund its liquidity and capital needs and sole discretion of NextEra Energy's board of unfavorable supply costs neces