Earnings Conference Call Third Quarter 2013 November 1, 2013 - PowerPoint PPT Presentation

Earnings Conference Call Third Quarter 2013 November 1, 2013

Cautionary Statements And Risk Factors That May Affect Future Results Any statements made herein about future operating and/or financial results and/or other future events are forward-looking statements under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include, for example, statements regarding anticipated future financial and operating performance and results, including estimates for growth. Actual results may differ materially from such forward-looking statements. A discussion of factors that could cause actual results or events to vary is contained in the Appendix herein and in our Securities and Exchange Commission (SEC) filings. Non-GAAP Financial Information This presentation refers to NEE’s adjusted earnings which are not financial measurements prepared in accordance with GAAP. Definitions of these measures and quantitative reconciliations of these measures to the closest GAAP financial measure are included in the attached Appendix. Prospective adjusted earnings amounts cannot be reconciled to net income because net income includes the mark-to-market effects of non-qualifying hedges and OTTI on certain investments, none of which can be determined at this time, as well as operating results from the Spain solar project. Adjusted earnings does not represent a substitute for net income, as prepared in accordance with GAAP. Adjusted Earnings Per Share Expectations This presentation refers to adjusted earnings per share expectations. Adjusted earnings expectations exclude the cumulative effect of adopting new accounting standards, the unrealized mark-to-market effect of non-qualifying hedges, as well as net other than temporary impairment losses on securities held in NextEra Energy Resources’ nuclear decommissioning funds, none of which can be determined at this time, and operating results from the Spain solar project. For 2013, adjusted earnings expectations also exclude the gain on the sale of the Maine hydropower assets, a charge associated with the decision to sell merchant fossil assets in Maine, and charges associated with an impairment on the Spain solar project. In addition, adjusted earnings expectations assume, among other things: normal weather and operating conditions; continued recovery of the national and the Florida economy; supportive commodity markets; public policy support for wind and solar development and construction; market demand and transmission expansion to support wind and solar development; access to capital at reasonable cost and terms; no acquisitions or divestitures; no adverse litigation decisions; and no changes to governmental tax policy or incentives. Please see the accompanying cautionary statements for a list of the risk factors that may affect future results. These earnings expectations should be read in conjunction with NextEra Energy’s current and periodic reports filed with the SEC, which may include other items that may affect future results. The adjusted earnings per share expectations are valid only as of November 1, 2013. 2

NextEra Energy delivered strong third quarter results NextEra Energy Overview • FPL: – Net income growth driven by continued investment in the business – All major capital projects are on track – Incremental investment opportunities are progressing well • Energy Resources: – Adjusted EPS growth driven primarily by new investment in our contracted renewables projects – Canadian wind and U.S. solar backlog on track – Continued to make progress on contracted renewables development opportunities • Enterprise-wide: – Project Momentum expected to yield $200 - $250 MM per year pre-tax improvement when fully implemented – Transition costs included in adjusted earnings: $0.05 in Q3; $0.09 to $0.10 full-year 3

FPL delivered solid earnings growth during the quarter due to investments that benefit customers Florida Power & Light Results – Third Quarter Net Income EPS ($ MM) $422 $392 $0.99 $0.93 2012 2013 2012 2013 4

FPL’s earnings per share grew 6 cents year-over-year, driven primarily by continued investment in the business Florida Power & Light EPS Contribution Drivers Regulatory Capital Invested (1) EPS Growth Third Quarter $B FPL – 2012 EPS $0.93 30 $28.0 $25.6 25 Drivers: 20 New investment growth and other $0.14 15 Clause, primarily shift of nuclear 10 uprates to base rates ($0.03) 5 Transition costs from Project 0 Momentum and share dilution ($0.05) Q3 2012 Q3 2013 FPL – 2013 EPS $0.99 Retail Rate Base Other (1) Average over the quarter; includes retail rate base, wholesale rate base, clause-related investments, and AFUDC projects 5

Florida’s economy continues to gradually improve Florida Economy Florida Unemployment Rate (1) Florida Building Permits (2) 12,000 12% 10,000 10% 8,000 8% 6,000 6% 4,000 4% 2,000 2% 0 0% Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Florida Consumer Sentiment (3) Florida Retail Sales Index (4) 145 95 140 90 135 85 130 80 125 75 120 70 115 65 110 105 60 100 55 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 (1) Source: Bureau of Labor Statistics, through August 2013 (2) Three-month moving average; Source: The Census Bureau through August 2013 (3) Source: UF Bureau of Economic and Business Research, through October 2013 6 (4) Sources: Office of Economic and Demographic Research, through July 2013. January 2000 = 100

FPL’s weather-adjusted volume was up slightly compared with the third quarter of last year Customer Characteristics – Third Quarter 2013 Customer Growth (1,3) Retail kWh Sales (Change vs. prior-year quarter) (Change vs. prior-year quarter) 100 Customer Growth & Mix 0.5% 80 + Usage Growth Due to Weather -0.7% # of 53 60 Customers + Underlying usage -0.4% (000’s) 40 = Retail Sales Growth -0.6% 20 0 -20 1Q- '07 1Q- '08 1Q- '09 1Q- '10 1Q- '11 1Q- '12 1Q- '13 Inactive and Low-Usage Customers (2,3) New Service Accounts (2) 320 10.0% 10,000 310 Inactive Accounts 300 9.5% 8,000 290 280 9.0% 6,000 270 Inactive Low-Usage 260 8.5% Accounts Customers 250 (000’s) 4,000 % of customers using 240 8.0% <200 kWh per month 230 (12-month ending) 2,000 220 7.5% 210 0 200 7.0% Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 01/07 01/08 01/09 01/10 01/11 01/12 01/13 (1) Based on average number of customer accounts for the quarter and corrected commercial account total (2) FPL data, through September 2013 (3) Increases in Customer and decreases in Inactive accounts reflect the acceleration in customers growth 7 resulting from the automatic disconnection of unknown KW usage (UKU) premises

Energy Resources’ adjusted earnings per share increased ~18% versus Q3 2012 Energy Resources Results (1) – Third Quarter GAAP Adjusted EPS EPS Net Income Net Income ($ MM) ($ MM) $281 $0.66 $190 $0.45 $281 $0.66 $162 $0.38 $44 $0.10 2012 2013 2012 2013 2012 2013 2012 2013 8 (1) See Appendix for reconciliation of adjusted amounts to GAAP amounts

Energy Resources’ contribution to adjusted earnings per share increased 7 cents over the comparable quarter primarily due to new asset additions Energy Resources Third Quarter Adjusted EPS (1) Contribution Drivers $0.60 $0.02 ($0.03) $0.08 $0.45 $0.38 $0.40 $0.20 $0.00 Q3 2012 New Gas Customer Supply & Q3 2013 (2) Adjusted EPS Investment Infrastructure Trading Adjusted EPS (1) See Appendix for reconciliation of adjusted amounts to GAAP amounts 9 (2) Includes customer supply businesses and proprietary power and gas trading

The Energy Resources team continues to drive execution on our growth plans Energy Resources Development Highlights • Canadian wind program progressing as planned – ~125 MW of Canadian wind COD in Q3 • Continue to execute on backlog of ~800 MW of contracted U.S. solar projects • Good progress on incremental opportunities – ~1,175 MW signed U.S. wind PPAs including ~200 MW signed in Q3 – 40 MW signed solar PPAs – Executed agreement to acquire ~250 MW long-term contracted solar project 10

NextEra Energy’s adjusted earnings per share increased 17 cents versus the prior year comparable quarter NextEra Energy EPS Summary (1) – Third Quarter GAAP 2012 2013 Change FPL $0.93 $0.99 $0.06 Energy Resources $0.10 $0.66 $0.56 Corporate and Other ($0.05) ($0.01) $0.04 Total $0.98 $1.64 $0.66 2012 2013 Change Adjusted FPL $0.93 $0.99 $0.06 Energy Resources $0.38 $0.45 $0.07 Corporate and Other ($0.05) ($0.01) $0.04 $1.26 $1.43 $0.17 Total (1) See Appendix for reconciliation of adjusted amounts to GAAP amounts 11