Slide 1: First Quarter 2026 Earnings Conference Call
First Quarter 2026 Earnings Conference Call April 23, 2026 1
Slide 2: Cautionary Statements and Risk Factors That May Affect Future Results
Cautionary Statements Non-GAAP Financial Other and Risk Factors That May Information See Appendix for definition Affect Future Results This presentation refers to of Adjusted Earnings, certain financial measures that This presentation includes Adjusted EBITDA and were not prepared in forward-looking
Slide 3: NextEra Energy delivered strong first quarter results, adjusted EPS up 10%
NextEra Energy delivered strong first quarter results, growing adjusted earnings per share by 10% year-over-year NextEra Energy Results – First Quarter Adjusted Earnings Adjusted EPS ($ MM) $2,275 $1.09 $2,038 $0.99 2025 2026 2025 2026 3
Slide 4: NextEra Energy's scale and experience across the energy value chain
NextEra Energy’s scale and experience across the entire energy value chain position us to lead amid accelerating demand and growing complexity America’s largest energy infrastructure Operates one of America’s largest developer nuclear fleets America’s leading transmission utility Owner and operator
Slide 5: More than 12 ways to grow over the next decade
We believe NextEra Energy is well-positioned to deliver strong growth over the next decade with more than 12 ways to grow Illustrative timeline of when we expect investments to drive earnings growth Key Growth Drivers 2025 2030 2035+ Florida Power & Light Now and long term Businesses Regulated FPL L
Slide 6: Florida Power & Light supports rapid growth with smart investments
Florida Power & Light supports rapid growth with smart investments, high reliability and low customer bills FPL added ~100,000 customers from the prior-year period FPL plans to invest $90–$100 billion through 2032 FPL residential bills are ~20% lower than they were 20 years ago1, increasing ~2% annu
Slide 7: Energy Resources had a record quarter of new renewables and storage origination
Energy Resources had a record quarter of new renewables and storage origination Lone Star Transmission received ERCOT approval to build portions of two new transmission lines, which represents ~40% increase in Lone Star’s rate base Record quarter of origination, adding ~4.0 GW of renewables and stor
Slide 8: Energy Resources executing data center hub strategy
Energy Resources is executing against its data center hub strategy with a pipeline of additional opportunities Large Load Base Case: 15 GW x 2035 ~30 Hub Pipeline Energy Resources’ Hub Pipeline >60 GW ~20 Hub Pipeline ~50 GW December 2025 April 2026 December 2025 April 2026 8
Slide 9: Data center hubs enable Energy Resources to capture large-load demand
Data center hubs enable Energy Resources to capture large-load demand Origination Channels Supporting Large Load Development Plan 2035 1 Direct-to-Hyperscalers 2032 4–8 GW Large Load Development Plan included within 2 Investor-Owned Utilities Development 72–99 GW Expectations 3 Co-ops/Munis Energy R
Slide 10: Partnership with Google Cloud
NextEra Energy has partnered with Google Cloud to redefine the future of the electric industry Go-to-Market Objectives NextEra Energy and Google Accelerate joint go-to- Cloud will collaborate to market activities to enhance NextEra Energy’s Enhance modernize the energy AI solutions Go-to- sector mar
Slide 11: Common platform, scale and experience to power America
NextEra Energy has the common platform, scale and experience to power America ~$298 B Enterprise Value1 ~81 GW in Operations2 Largest electric utility Largest energy infrastructure in the U.S. developer in the U.S. Supply Chain & Buying Power Customer Network Market Knowledge Operating Scale Artific
Slide 12: FPL's earnings per share increased 6 cents
FPL’s earnings per share increased 6 cents from the prior-year comparable quarter FPL Results – First Quarter Net Income EPS ($ MM) $1,462 $0.70 $1,316 $0.64 2025 2026 2025 2026 12
Slide 13: FPL investments focus on low bills and reliable electricity
FPL investments continue to focus on keeping bills low while delivering reliable electricity FPL EPS Contribution Drivers EPS Growth Regulatory Capital Employed1 ($ B) First ~8.8% Growth Quarter $77.7 FPL – 2025 EPS $0.64 $71.4 Drivers: New investments $0.04 Other, including share dilution $0.02 FPL
Slide 14: Florida's economy remains robust; strong customer growth
Florida’s economy remains robust, and FPL continues to benefit from strong customer growth Florida Economy & Customer Characteristics Retail kWh Sales (Change vs. prior-year) Customer Growth1 (Change vs. prior-year quarter; 000s) First 140 Quarter 120 99.7 Customer Growth & Mix 1.7% 100 80 60 + Usag
Slide 15: Energy Resources' adjusted earnings increased ~14%
NextEra Energy Resources’ adjusted earnings increased ~14% from the prior- year comparable quarter NextEra Energy Resources Results1 – First Quarter GAAP2 Adjusted Net Income EPS Net Income EPS ($ MM) ($ MM) $1,038 $0.50 $1,019 $0.49 $908 $0.44 $172 $0.08 2025 2026 2025 2026 2025 2026 2025 2026 1. A
Slide 16: Energy Resources growth driven by new generation and storage additions
NextEra Energy Resources’ growth was driven by new additions to our power generation and storage portfolio NextEra Energy Resources First Quarter 2026 Adjusted EPS1 Contribution Drivers $0.01 ($0.04) $0.05 $0.00 $0.50 $0.04 $0.44 Q1 2025 New Existing Customer NEET Other Q1 2026 Adjusted EPS Investme
Slide 17: Energy Resources record origination, adding 4.0 GW to backlog
NextEra Energy Resources had a record quarter of new renewables and storage origination, adding 4.0 GW to the backlog NextEra Energy Resources Development Program1 2026–2027 2026–2027 2028–2029 2028–2029 2030–2032 2030–2032 2026–2032 COD & Backlog Expectations Backlog Expectations Backlog Expectatio
Slide 18: Adjusted EPS increased 10% year-over-year
NextEra Energy’s adjusted earnings per share increased 10% year-over-year NextEra Energy EPS Summary – First Quarter GAAP Q1 2025 Q1 2026 Change FPL $0.64 $0.70 $0.06 NextEra Energy Resources $0.08 $0.49 $0.41 Corporate and Other ($0.32) ($0.15) $0.17 Total $0.40 $1.04 $0.64 Adjusted Q1 2025 Q1 2026
Slide 19: Well positioned to continue strong adjusted EPS growth
NextEra Energy remains well positioned to continue our strong adjusted earnings per share growth NextEra Energy’s Financial Expectations1 Adjusted Earnings Per Share Expectations 2025-2035E Expect 8%+ CAGR through 2032 off 2025 8%+ Long-term adjusted EPS2 Target2 8%+ Long-term Expectations2 Targetin
Slide 20: Q&A Session
Q&A Session NextEra Energy | 20
Slide 21: Appendix
Appendix NextEra Energy | 21
Slide 22: Navigating the current interest rate environment
NextEra Energy is well positioned to navigate the current interest rate environment Interest Rate Sensitivity Estimated Adjusted EPS Impact of +50 bps Interest Rate Increase1 2026 2027 2028 $0.00–($0.01) $0.00–($0.02) $(0.01)–($0.03) NextEra Energy’s notional interest rate hedges total $43.2 B2 1. I
Slide 23: Potential drivers of variability to adjusted EPS
Potential drivers of variability to consolidated NextEra Energy adjusted EPS 2026 Potential Sources of Variability1 FPL Timing of investment ± $0.01–$0.02 Retail ROE (± 0.1% change) ± $0.015–$0.02 NextEra Energy Resources Wind resource2 (± 1% deviation) ± $0.01–$0.015 Asset reliability3 (± 1% EFOR)
Slide 24: Credit metrics remain on track
NextEra Energy’s credit metrics remain on track NextEra Energy Credit Metrics1 S&P A- Range Downgrade Threshold Actual 2025 Target 2026 FFO/Debt 13%–23% 18% 19.0% >18% Moody’s2 Baa Range Downgrade Threshold Actual 2025 Target 2026 CFO Pre-WC/Debt 13%–22% 17% 17.8% >17% (adjusted) CFO Pre-WC/Debt 13%
Slide 25: Energy Resources Projected 2026 Portfolio Financial Information
NextEra Energy Resources Projected 2026 Portfolio Financial Information (includes NEER’s share of partially owned assets; $MM) Value of pre-tax tax credits Pre-Tax Remaining Adjusted EBITDA1 included in adjusted EBITDA2 Debt Service3 Other4 Cash Flows5 Contract Life6 New Clean Energy Assets7 $1,800–
Slide 26: Energy Resources Wind Production Index
NextEra Energy Resources Wind Production Index1,2 2025 2026 1ST QTR 2ND QTR 3RD QTR 4TH QTR 1ST QTR Location MW Jan Feb Mar QTR MW QTR MW QTR MW QTR YE MW Jan Feb Mar QTR Midwest 5,788 110% 102% 110% 107% 5,788 97% 5,788 81% 5,788 102% 98% 5,990 96% 93% 105% 98% West 6,387 94% 94% 106% 98% 6,387 97%
Slide 27: Non-Qualifying Hedges - Summary of Activity
Non-Qualifying Hedges1 - Summary of Activity ($ millions, after-tax) Primary Drivers: Asset/(Liability) Balance as of 12/31/25 ($924) Upstream Hedges ($104) Amounts Realized During 1st Quarter 123 Interest Rate Hedges (92) Change in Forward Prices (all positions) (167) Electricity Related Positions
Slide 28: Non-Qualifying Hedges - Summary of First Quarter Activity
Non-Qualifying Hedges1 - Summary of First Quarter Activity ($ millions) 1st Quarter Asset / (Liability) Change in Forward Total NQH Gain / Asset / (Liability) Description Amounts Realized Balance 12/31/25 Prices (Loss) Balance 3/31/26 Pretax amounts at share Electricity related positions ($675) $107
Slide 29: Non-Qualifying Hedges - Summary of Forward Maturity
Non-Qualifying Hedges1,2 - Summary of Forward Maturity ($ millions) Asset / (Liability) Description 2026 2027 2028 2029 2030–2050 Total 2026–2050 Balance 3/31/26 Pretax amounts at share Electricity related positions ($626) $149 $150 $79 $30 $218 $626 Upstream related positions (477) $138 173 78 59 2
Slide 30: Reconciliation of GAAP Net Income to Adjusted Earnings (Q1 2026)
Reconciliation of GAAP Net Income to Adjusted Earnings Attributable to NextEra Energy, Inc. (Three Months Ended March 31, 2026) Energy Corporate NextEra (millions, except per share amounts) FPL Resources & Other Energy, Inc. Net Income (Loss) Attributable to NextEra Energy, Inc. $ 1,462 $ 1,019 $ (2
Slide 31: Reconciliation of GAAP Net Income to Adjusted Earnings (Q1 2025)
Reconciliation of GAAP Net Income to Adjusted Earnings Attributable to NextEra Energy, Inc. (Three Months Ended March 31, 2025) Energy Corporate NextEra (millions, except per share amounts) FPL Resources & Other Energy, Inc. Net Income (Loss) Attributable to NextEra Energy, Inc. $ 1,316 $ 172 $ (655
Slide 32: Reconciliation of GAAP Net Income to Adjusted Earnings (FY 2025)
Reconciliation of GAAP Net Income to Adjusted Earnings Attributable to NextEra Energy, Inc. (Twelve Months Ended December 31, 2025) Energy Corporate NextEra (millions, except per share amounts) FPL Resources & Other Energy, Inc. Net Income (Loss) Attributable to NextEra Energy, Inc. $ 5,012 $ 2,975
Slide 33: Definitional information
Definitional information NextEra Energy, Inc. Adjusted Earnings Expectations NextEra Energy Resources, LLC. NextEra Energy Resources, LLC. (including subsidiaries as applicable) Adjusted EBITDA Adjusted EBITDA by Asset Category This presentation refers to adjusted earnings per share Adjusted EBITDA
Slide 34: 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 statements, which are not a guarantee of future regulations, executive orders, interpretations or facilities on schedule or within budget; impact on statements” within the meaning of the
Slide 35: Cautionary Statement And Risk Factors That May Affect Future Results (cont.)
Cautionary Statement And Risk Factors That May Affect Future Results (cont.) coverage does not provide protection against all contracts or of requirement for NextEra Energy through the end of their respective operating timing of dividends payable on NextEra Energy's significant losses; a prolonged p