Nextera Energy, Inc. · NYSE:NEE
Nextera Energy — Investor Presentation (June 2025)
32 slides from Nextera Energy's investor presentation, Jun 20, 2025
Slide 1: Europe Investor Presentation
Europe Investor Presentation NextEra Energy June 20, 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 is powered by two industry-leading companies, strengthened by a common platform
NextEra Energy is powered by two industry-leading companies, strengthened by a common platform ~$243 B Enterprise Value1 ~74 GW in Operations2 Largest electric utility Leading North American in the U.S. clean energy company Renewables and Storage Power Delivery & Transmission Market Knowledge Fossil
Slide 4: Our capital investment strategy is focused on long-term, consistent revenues and superior returns
Our capital investment strategy is focused on long-term, consistent revenues and superior returns >70%1 <30%1 Rate-regulated return Primarily long-term on capital invested in a contracted investments constructive regulatory with A- counterparty environment credit rating on average FPL & Other Regula
Slide 5: Demand forecast growth continues to accelerate
Demand forecast growth continues to accelerate U.S. Power Demand (thousand TWh)1 Growth by Sector2 +55% ~1/3 of ~2/3 of growth growth +38% 8% 55% 5.9 +22% 5.3 8% 4.6 11% 2.1 3.8 1.5 0.8 11% 17% 3.8 3.8 3.8 3.8 2020 2040 2040 2040 Residential Commercial Total (2021 Projection) (2024 Projection) (2025
Slide 6: Increasing demand requires cost-effective renewable and storage solutions now
Increasing demand requires cost-effective renewable and storage solutions now, with gas and nuclear expected to further supplement in the next decade Estimated U.S. Cumulative Nameplate Capacity Additions1 Expected Deployment Timelines by Generation Type GW ~450 Today 2030 2035 2040+ ~375 Renewables
Slide 7: Renewables and storage are the most cost-effective energy and capacity solutions
Renewables and storage are the most cost-effective energy and capacity solutions, and are ready now Estimated Costs of Firmed Generation Resources, 20301 $/MWh New Least cost Onshore Wind2 $25–$50 energy and capacity resources New Solar2 $35–$75 New Natural Gas Combined $90–$1153 Cycle 2035 Small Mo
Slide 8: 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. Illustrative Indicative Capacity Payment1 Comparing Capacity Resources SPP Levelized Cost of Capacity, $/kW-mo, 2030 ~2.5x Battery Storage Gas Peaker $21–23 Meets capacity $16–18 needs Equipment ~12
Slide 9: Natural gas-fired generation cannot meet demand in the near term
Natural gas-fired generation cannot meet demand in the near term and is a longer- term, more expensive solution Rising Demand Longer Build Times Higher CapEx 10-Year New Natural Gas New Natural Gas Combined New Natural Gas Combined Generation Growth in IRPs1 Cycle Build Time2 Cycle CapEx2 GW Years $
Slide 10: America needs renewables to bridge the gap
While we work to rebuild the gas and nuclear supply chains, America needs renewables to bridge the gap 5 to 10-year bridge Renewables All Forms of Energy NextEra Energy 10
Slide 11: Our unmatched scale, experience and technology enables predictable, superior returns
Our unmatched scale, experience and technology enables predictable, superior returns Interconnection & Development gy Transmission Strategy o ol Sc Techn Data & Analytics Supply Chain & EPC ale Best Origination & Team Financing Customer Relationships Ex Portfolio Optimization p e ri e n c e Operatio
Slide 12: NextEra Energy has a long track record of financial performance
NextEra Energy has a long track record of financial performance Adjusted Earnings Per Share NextEra Energy Historical EPS CAGR vs Peers1 $3.43 8.33% CAGR 10.4% 10.4% 10.0% $0.88 8.9% 8.5% '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 4.9% 4.6% Dividends Per Share 3.3% 3.6%
Slide 13: FPL is well positioned to power Florida's fast-growing economy
As the nation’s leading electric utility, FPL is well positioned to power Florida’s fast-growing economy into the future Largest electric utility in the U.S. with over 6.0 MM customer accounts ~36 GW in operation1 Making smart capital investments for the benefit of customers Areas Served by FPL (in
Slide 14: FPL has experienced strong growth, and we continue to deliver for our customers
FPL has experienced strong growth, and we continue to deliver for our customers Operational Cost Effectiveness1 ($/MWh Non-Fuel O&M) Regulatory Capital Employed Growth3 ($B) GOOD ~70% lower ~11.2% $38.52 CAGR $68.0 $20.06 $11.54 $23.5 National Average Top Decile FPL 2014 2024 System Average Interrup
Slide 15: FPL submitted testimony for the 2025 base rate proceeding
FPL submitted testimony to the Florida Public Service Commission on February 28 for the 2025 base rate proceeding Proposal includes base rate adjustment requests of ~$1.6 B in 2026 and ~$0.9 B for 2027, as well as continued recovery through Solar and Battery Base Rate Adjustment (SoBRA) mechanism in
Slide 16: NextEra Energy Resources is the leading electric energy infrastructure company in North America
NextEra Energy Resources is the leading electric energy infrastructure company in North America ~38 GW1 of generation and storage in operation 21% Solar 6% Nuclear Wind 57% 9% Battery 4% Natural Gas 2% Other World leader in wind, solar and storage ~28 GW2 backlog and ~300 GW2 pipeline of renewables
Slide 17: We are the #1 originator for U.S. power and commercial & industrial customers
We are the #1 originator for U.S. power and commercial & industrial customers NextEra Energy Resources’ 2020–2024 Signed PPAs 20% market share in 3 renewables and storage origination1 ~40% 3 25+ years serving power customers ~60% 15 years serving 3 commercial & industrial customers Power Commercial
Slide 18: All forms of energy are required to meet demand and customer needs
All forms of energy are required to meet demand and customer needs Energy & Capacity Solutions Wind Solar Storage Gas Nuclear Energy Capacity NextEra Energy 18
Slide 19: We are equipped to serve the full range of customer needs
We are equipped to serve the full range of customer needs Primary Drivers of Growth 1 2 3 On-Grid On-Grid Off-Grid Normal Loads Very Large Loads Islanded Solutions 200-400 MWs Up to 200–400 1–3 1-3 GWs 3–5 GWs On-Grid Off-Grid Leverage Grid Load X Redundancy Generation Leverage Grid X Optionality Ba
Slide 20: Our scale, experience and technology give customers certainty
We believe our scale, experience and technology will continue to give customers certainty that we will deliver cost-effective power solutions We are well positioned to win… …across all types of load growth Experience of building ~6x more MWs in last 5 years than any Top 10 Utility On-Grid: 1 Normal
Slide 21: Proprietary data and technology supports our ability to create projects
Energy Resources’ proprietary data and technology supports our ability to create projects with the most value and improve our development success rate Data and Technology Prospect Design Develop & Construct • Evaluating 30+ MM land clusters • Full energy system supply and • Solar panel allocation al
Slide 22: Opportunity to develop 36.5 to 46.5 GW of new renewables and storage through 2027
We believe we have the opportunity to develop 36.5 to 46.5 GW of new renewables and storage through 2027 NextEra Energy Resources Development Program1 As of April 23, 2025; GW 2024–2025 2024–2025 2026–2027 2026–2027 2024–2027 COD & Backlog Expectations Backlog Expectations Expectations Wind 3.1 3.5–
Slide 23: NextEra Energy is the quintessential "all forms of energy" company
NextEra Energy is the quintessential “all forms of energy” company Owner and operator of America’s America’s No.1 electricity provider largest natural gas fleet Owner of largest U.S. electric utility One of the largest nuclear operators with one of lowest bills in nation in the U.S. World’s No.1 gen
Slide 24: Well positioned to continue 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 25: Appendix
Appendix NExTera’ ENESGY
Slide 26: 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 2025 2026 2027 ($0.00)–($0.02) ($0.01)–($0.03) ($0.02)–($0.04) NextEra Energy’s notional interest rate hedges total nearly $3
Slide 27: 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 2024 Target 2025 FFO/Debt 13%–23% 18% 19.3% >18% Moody’s Baa Range Downgrade Threshold Actual 2024 Target 2025 CFO Pre-WC/Debt 13%–22% 17% 19.4% >17% Fitch A Midpoint Downgrade Thre
Slide 28: Reconciliation of Earnings Per Share 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 2016(2) 2017(2) 2018 2019 2020 2021 2022 2023 2024 Earnings Per Share Attributable to NextEra Energy, Inc. (assuming dilution) $ 0.62
Slide 29: Reconciliation of GAAP Net Income to Adjusted Earnings
Reconciliation of GAAP Net Income to Adjusted Earnings Attributable to NextEra Energy, Inc. (Twelve Months Ended December 31, 2024) Energy Corporate & NextEra (millions, except per share amounts) FPL Resources Other Energy, Inc. Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. (assumin
Slide 30: 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 31: 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 are subject to risks and uncertainties that could to environmental laws, regulations and other negotiation of project development agreements, statements” within the meaning of the safe ca
Slide 32: 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