Nextera Energy, Inc. · NYSE:NEE
Nextera Energy — Q3 2026 Earnings Presentation
41 slides from Nextera Energy's earnings presentation, Oct 21, 2026
Slide 1: Third Quarter 2026 Earnings Conference Call
Third Quarter 2026 Earnings Conference Call October 21, 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 third quarter results, growing adjusted EPS by 9.7%
NextEra Energy delivered strong third quarter results, growing adjusted earnings per share by 9.7% year-over-year NextEra Energy Results – Third Quarter Adjusted Earnings Adjusted EPS ($ MM) $2,592 $1.24 $2,348 $1.13 2025 2026 2025 2026 3
Slide 4: Hurricane Isaias made landfall in the Florida panhandle
Hurricane Isaias made landfall in the northwest Florida panhandle on October 9th as a strong Category 2 storm Approximately 435,000 FPL customers were impacted by Hurricane Isaias FPL had a restoration workforce of ~17,000 men and women from 29 states Smart grid technology avoided ~140,000 outages U
Slide 5: NextEra Energy continues to execute on its 2025 Investor Conference objectives
NextEra Energy continues to execute on its 2025 Investor Conference objectives 2025 Investor Conference Targets through 20321 YTD 2026 Performance Executed Florida Power & Light 9% regulatory capital employed growth 9.2% regulatory capital employed growth YTD Results FPL Large Load 6 GW of Large Loa
Slide 6: Florida Power & Light supports rapid growth with smart investments, high reliability and low customer bills
Florida Power & Light supports rapid growth with smart investments, high reliability and low customer bills FPL added over 86,000 customers from the prior-year comparable period FPL residential bill remains ~37% below the national average1 Top decile reliability that’s more than 60% better than the
Slide 7: Energy Resources had a strong quarter and continues to deliver energy infrastructure
Energy Resources had a strong quarter and continues to deliver energy infrastructure to help America meet its power needs 3.7 GW Backlog 16.5 GW 4.6 GW 1.3 GW $1.9 B ~25% Growth in Additions Natural Gas Paducah Hub Recontracted DOE Loan Transmission Added 3.7 GW of ~16.5 GW of 4.6 GW at ~1 GW at Poi
Slide 8: NextEra Energy Resources is growing its regulated and long-term contracted business
NextEra Energy Resources is growing its regulated and long-term contracted business through multiple opportunities and technologies Renewables, Nuclear and Storage1 Electric & Gas Regulated Transmission 0 ~25% ~$12.7 B 2026–2029 Development Expectations ~$10 B ~17.6 GW remaining to meet midpoint Dec
Slide 9: Federal Hubs de-risk natural gas expectations through 2032
Federal Hubs de-risk natural gas expectations through 2032 and provide upside battery storage growth opportunity Natural Gas Development Battery Storage Upside Opportunity GW GW 2 10 ~15–30% 38–54 6–11 Upside 4–8 8 32–43 6 GW midpoint 2026–2032 Federal Hubs Paducah Hub Federal Hubs + 2026–2032 Feder
Slide 10: The combined company will drive affordability, create local jobs and deliver all forms of energy infrastructure
The combined company will drive affordability, create local jobs and deliver all forms of energy infrastructure Long Term Customer Benefits Co-Headquarters Career Opportunities Richmond, Virginia Co-Headquarters Dominion VA/NC and Buy More Efficiently Dominion SC maintain strong local leadership Cro
Slide 11: Building something greater together for Virginia
Building something greater together for Virginia New New Doubling bill credits Jobs 1 Extended the monthly bill credit period for Virginia residential 6 Bringing 600 NextEra Energy jobs, 400 supplier jobs and customers from two years to four years thousands of indirect jobs across the Commonwealth N
Slide 12: Merger expected to close in the second half of 2027
Subject to regulatory approvals, we expect the NextEra Energy and Dominion Energy merger to close in the second half of 2027 Q2 2026 Q3 2026 Q4 2026 Q1 2027 Q2 2027 Q3 2027 Q4 2027 Transaction Federal regulatory applications / regulatory approval process1: Announcement FERC, NRC, HSR State regulator
Slide 13: FPL's earnings per share increased 6 cents from the prior-year comparable quarter
FPL’s earnings per share increased 6 cents from the prior-year comparable quarter FPL Results – Third Quarter Net Income EPS ($ MM) $1,620 $0.77 $1,463 $0.71 2025 2026 2025 2026 13
Slide 14: FPL investments continue to focus on keeping customer bills low while delivering reliable electricity
FPL investments continue to focus on keeping customer bills low while delivering reliable electricity FPL EPS Contribution Drivers EPS Growth Regulatory Capital Employed2 ($ B) Third ~9.2% Growth Quarter $81.1 FPL – 2025 EPS $0.71 $74.2 Drivers: New investments $0.05 Other, including share dilution1
Slide 15: Florida's economy remains robust, and FPL continues to benefit from strong customer growth
Florida’s economy remains robust, and FPL continues to benefit from strong customer growth Florida Economy & Customer Characteristics Retail kWh Sales (Change vs. prior-year) Customer Growth1 (Change vs. prior-year quarter; 000s) Third 140 Quarter 120 Customer Growth & Mix 1.4% 100 86.4 80 60 + Usag
Slide 16: NextEra Energy Resources' adjusted earnings increased ~13%
NextEra Energy Resources’ adjusted earnings increased ~13% from the prior- year comparable quarter NextEra Energy Resources Results1 – Third Quarter GAAP Adjusted Net Income EPS Net Income EPS ($ MM) ($ MM) $1,491 $1,247 $0.59 $0.71 $1,275 $1,102 $0.53 $0.62 2025 2026 2025 2026 2025 2026 2025 2026 1
Slide 17: NextEra Energy Resources' growth was driven by new additions to power generation and storage
NextEra Energy Resources’ growth was driven by new additions to our power generation and storage portfolio NextEra Energy Resources Third Quarter 2026 Adjusted EPS1 Contribution Drivers $0.05 ($0.04) $0.00 $0.09 ($0.04) $0.59 $0.53 Q3 2025 New Existing Energy Customer Regulated Other Q3 2026 Adjuste
Slide 18: NextEra Energy Resources added 3.7 GW to the backlog during the third quarter
NextEra Energy Resources added 3.7 GW to the backlog during the third quarter 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 Expectations Expectations 3.7 GW of new generation
Slide 19: NextEra Energy's adjusted EPS increased 9.7% year-over-year
NextEra Energy’s adjusted earnings per share increased 9.7% year-over-year NextEra Energy EPS Summary – Third Quarter GAAP Q3 2025 Q3 2026 Change FPL $0.71 $0.77 $0.06 NextEra Energy Resources $0.62 $0.71 $0.09 Corporate and Other ($0.15) $0.80 $0.95 Total $1.18 $2.28 $1.10 Adjusted Q3 2025 Q3 2026
Slide 20: NextEra Energy remains 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 21: Q&A Session
Q&A Session NextEra Energy | 21
Slide 22: Appendix
Appendix NextEra Energy | 22
Slide 23: Combined company will deliver a compelling long-term shareholder value proposition
Best-in-class shareholder value We expect the combined company will deliver a proposition compelling long-term shareholder value One of the highest target proposition adjusted EPS growth rates6 NextEra Energy + Dominion 15+ ways to grow NextEra Energy 9%+ 8%+ Long-Term Adj. EPS CAGR Target1 Largest
Slide 24: NextEra Energy is well positioned to navigate 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 $48.6 B2 1. I
Slide 25: Potential drivers of variability to consolidated 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) ± $0.005–$0.01 Asset reliability3 (± 1% EFOR)
Slide 26: NextEra Energy's 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% 19.4% >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 27: NextEra 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 Investments7 $1,800–$2,200 (
Slide 28: NextEra Energy Resources Wind Production Index
NextEra Energy Resources Wind Production Index1,2 2025 2026 3RD QTR 4TH QTR 1ST QTR 2ND QTR 3RD QTR Location MW Jul Aug Sep QTR MW QTR YE MW QTR MW QTR MW Jul Aug Sep QTR YTD Midwest 5,788 85% 87% 72% 81% 5,788 102% 98% 5,990 98% 5,990 104% 5,990 86% 86% 85% 86% 97% West 6,643 109% 100% 84% 98% 6,66
Slide 29: Non-Qualifying Hedges - Summary of Activity
Non-Qualifying Hedges1 - Summary of Activity ($ millions, after-tax) Asset/(Liability) Balance as of 6/30/26 ($328) Primary Drivers: Amounts Realized During 3rd Quarter 95 Interest Rate Hedges $3,085 Change in Forward Prices (all positions) 2,151 Other – Net 13 Subtotal – Income Statement 2,246 Elec
Slide 30: Non-Qualifying Hedges - Summary of Third Quarter Activity
Non-Qualifying Hedges1 - Summary of Third Quarter Activity ($ millions) 3rd Quarter Asset / (Liability) Change in Forward Total NQH Gain / Asset / (Liability) Description Amounts Realized Balance 6/30/2026 Prices (Loss) Balance 9/30/26 Pretax amounts at share Electricity related positions ($672) $52
Slide 31: Non-Qualifying Hedges - Summary of Year-to-Date Activity
Non-Qualifying Hedges1 - Summary of Year-to-Date Activity ($ millions) Year-to-Date Asset / (Liability) Amounts Change in Total NQH Asset / (Liability) Description 2 Balance 12/31/25 Realized Forward Prices Gain / (Loss) Balance 9/30/26 Pretax amounts at share Electricity related positions ($675) $2
Slide 32: Non-Qualifying Hedges - Summary of Forward Maturity
Non-Qualifying Hedges1,2 - Summary of Forward Maturity ($ millions) Asset / (Liability) Description 2026 2027 2028 2029 2030–2050 Total 2026–2050 Balance 9/30/26 Pretax amounts at share Electricity related positions ($735) $68 $190 $105 $44 $328 $735 Upstream related positions (388) $48 130 94 76 40
Slide 33: Reconciliation of GAAP Net Income to Adjusted Earnings (Three Months Ended Sept 30, 2026)
Reconciliation of GAAP Net Income to Adjusted Earnings Attributable to NextEra Energy, Inc. (Three Months Ended September 30, 2026) Energy Corporate NextEra (millions, except per share amounts) FPL Resources & Other Energy, Inc. Net Income (Loss) Attributable to NextEra Energy, Inc. $ 1,620 $ 1,491
Slide 34: Reconciliation of GAAP Net Income to Adjusted Earnings (Three Months Ended Sept 30, 2025)
Reconciliation of GAAP Net Income to Adjusted Earnings Attributable to NextEra Energy, Inc. (Three Months Ended September 30, 2025) Energy Corporate NextEra (millions, except per share amounts) FPL Resources & Other Energy, Inc. Net Income (Loss) Attributable to NextEra Energy, Inc. $ 1,463 $ 1,275
Slide 35: Reconciliation of GAAP Net Income to Adjusted Earnings (Nine Months Ended Sept 30, 2026)
Reconciliation of GAAP Net Income to Adjusted Earnings Attributable to NextEra Energy, Inc. (Nine Months Ended September 30, 2026) Energy Corporate NextEra (millions, except per share amounts) FPL Resources & Other Energy, Inc. Net Income (Loss) Attributable to NextEra Energy, Inc. $ 4,493 $ 4,143 $
Slide 36: Reconciliation of GAAP Net Income to Adjusted Earnings (Nine Months Ended Sept 30, 2025)
Reconciliation of GAAP Net Income to Adjusted Earnings Attributable to NextEra Energy, Inc. (Nine Months Ended September 30, 2025) Energy Corporate NextEra (millions, except per share amounts) FPL Resources & Other Energy, Inc. Net Income (Loss) Attributable to NextEra Energy, Inc. $ 4,054 $ 2,430 $
Slide 37: Reconciliation of GAAP Net Income to Adjusted Earnings (Twelve Months Ended Dec 31, 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 38: 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 39: Cautionary Statement
Cautionary Statement This presentation contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, but instead represent the current expectations of
Slide 40: Cautionary Statement
Cautionary Statement production or unsuccessful drilling efforts could impact NextEra Energy Resources, LLC’s (NextEra Energy Resources) natural gas and oil production operations and cause NextEra Energy Resources to delay or cancel certain natural gas and oil production projects and could result in
Slide 41: Cautionary Statement
Cautionary Statement No Offer or Solicitation This presentation is not intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer,