Earnings Conference Call

First Quarter 2019

April 23, 2019

Cautionary Statements And Risk Factors That May Affect Future Results

This presentation includes forward-looking statements within the meaning of the federal securities laws. Actual results could differ materially from such forward-looking statements. The factors that could cause actual results to differ are discussed in the Appendix herein and in NextEra Energy's and NextEra Energy Partners' SEC filings.

Non-GAAP Financial Information

This presentation refers to certain financial measures that were not prepared in accordance with U.S. generally accepted accounting principles. Reconciliations of historical non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the Appendix herein.

2

NextEra Energy delivered strong first quarter results

First Quarter 2019 Highlights

•NEE grew adjusted EPS by ~12% year-over-year

•FPL:

-Regulatory capital employed growth of ~8% versus prior-year comparable quarter

-~1,750 MW Okeechobee Clean Energy Center completed on budget and ahead of schedule

-Commissioned ~300 MW of solar under 2019 SoBRA

•Gulf Power:

-Integration continues to progress well

-Base retail O&M costs already down nearly 5% year-over-year

•Energy Resources:

-Nearly 1,000 MW of renewables added to backlog

Includes first co-located combined wind, solar and storage project

3

FPL's earnings per share increased 20 cents from the prior- year comparable quarter

Florida Power & Light Results - First Quarter

Net Income

EPS

($ MM)

$588

$1.22

$484

$1.02

2018

2019

2018

2019

4

Continued investment in the business was the primary driver of growth at FPL

Florida Power & Light EPS Contribution Drivers

EPS Growth

First

Regulatory Capital Employed(1)

(Excluding Accumulated Deferred Income Taxes)

Quarter

FPL - 2018 EPS

$1.02

Drivers:

New investments

$0.10

Deferred tax impact

$0.02

Regulated gas

$0.01

Other, incl. share dilution

$0.07

FPL - 2019 EPS

$1.22

$B 40.0

35.0$32.7

30.0

25.0

20.0

15.0

10.0

5.0

0.0

$35.4

Q1 2018(2)

Q1 2019

Retail Rate Base

Other

5

1) 4 month average; includes retail rate base, wholesale rate base, clause-related investments and AFUDC projects; Q1 2018 and Q1 2019 reflect adjustments related to removal of accumulated deferred income taxes of $8.1 B and $8.3 B, respectively

2) Prior period amounts restated to account for the inclusion of capital deployed in the capacity clause

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NextEra Energy Inc. published this content on 23 April 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 23 April 2019 11:38:15 UTC