NextEra Energy : Q1 2022 Remarks

(1) FIRST QUARTER 2022 EARNINGS CONFERENCE CALL

Jessica Geoffroy:

Thank you, ________.

Good morning everyone, and thank you for joining our first quarter 2022 combined earnings conference call for NextEra Energy and NextEra

Energy Partners.

With me this morning are John Ketchum, President and Chief

Executive Officer of NextEra Energy, Kirk Crews, Executive Vice President and Chief Financial Officer of NextEra Energy, Rebecca Kujawa, President and Chief Executive Officer of NextEra Energy Resources, and Mark

Hickson, Executive Vice President of NextEra Energy, all of whom are also officers of NextEra Energy Partners, as well as Eric Silagy, Chairman,

President and Chief Executive Officer of Florida Power & Light Company.

Kirk will provide an overview of our results and our executive team will then be available to answer your questions.

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SAFE HARBOR STATEMENT AND NON-GAAP FINANCIAL INFORMATION

We will be making forward-looking statements during this call basedon current expectations and assumptions which are subject to risks and uncertainties. Actual results could differ materially from our forward-looking statements if any of our key assumptions are incorrect or because of otherfactors discussed in today's earnings news release, in the comments made during this conference call, in the risk factors section of the accompanying presentation, or in our latest reports and filings with the Securities and

Exchange Commission, each of which can be found on our websiteswww.NextEraEnergy.comand www.NextEraEnergyPartners.com. We do not undertake any duty to update any forward-looking statements.

Today's presentation also includes references to non-GAAP financial

measures. You should refer to the information contained in the slides

accompanying today's presentation for definitional information and

reconciliations of historical non-GAAP measures to the closest GAAP financial measure. As a reminder, Florida Power & Light completed the regulatory integration of Gulf Power under its 2021 base rate settlement agreement and began serving customers under unified rates on January 1,

2022. As a result, Gulf Power will no longer continue as a separate reporting segment within Florida Power & Light and NextEra Energy. For 2022 and beyond, FPL has one reporting segment and therefore 2021 financial results and other operational metrics have been restated for comparative purposes.

With that, I will turn the call over to Kirk.

Kirk Crews:

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NEXTERA ENERGY OPENING REMARKS

Thank you, Jessica, and good morning everyone.

NextEra Energy delivered strong first quarter results and is off to asolid start to meet its overall objectives for the year. Adjusted earnings per share increased by 10.4% year-over-year, reflecting successful performance across all of our underlying businesses. During the quarter, we were honored that NextEra Energy was again ranked No. 1 in its sector

on Fortune magazine's "World's Most Admired Companies" list for the 15th

time in 16 years. Our culture of commitment to excellence in everything we do and our core values are what allow our team of approximately 15,000 employees to continue delivering best-in-class value to our customers and shareholders while helping build a sustainable energy era that is affordable and clean.

FPL increased net income by approximately $98 million from the prior-year comparable period which was driven by continued investment in the business for the benefit of our customers. During the quarter, FPL successfully placed in service approximately 450 megawatts of additional cost-effective solar projects that are recovered through base rates as part of its new four-year settlement agreement, which as a reminder becameeffective on January 1st of this year. As a result, FPL has now completed, on time and within budget, all of its planned solar build with 2022 in-service dates. FPL now owns and operates more than 3,600 megawatts of solar, which is the largest solar portfolio of any utility in the country. FPL's modernization investments since 2001 have saved customers more than $12 billion in fuel costs, and its customers have benefitted from a 45% improvement in reliability over the last decade. FPL's other major capital investments are progressing well, including the North Florida Resiliency

Connection and the highly efficient approximately 1,200-megawatt Dania

Beach Clean Energy Center, both of which are scheduled for completion later this year. By executing on smart capital investments such as these and running the business efficiently, FPL continues to deliver its best-in-class customer value proposition of clean energy, low bills, high reliability and outstanding customer service.

At Energy Resources, adjusted earnings per share increased by nearly 7% year-over-year, primarily driven by favorable performance in our existing wind portfolio. In terms of new origination, Energy Resources had another strong quarter of renewables and storage origination, adding approximately 1,770 net megawatts to our backlog since the last call bringing our backlog to approximately 17,700 megawatts. Included in theseadditions is approximately 1,200 net megawatts of wind projects, which is the second largest quarter of wind origination in our history. In the midst of inflationary pressures and uncertainty in the solar supply chain, which I will discuss further in a few moments, our continued origination success in this environment is a testament to the strength of Energy Resources'

competitive advantages and the ongoing demand from our customers for low-cost renewables and storage.

At this early point in the year, we are very pleased with our team's execution and progress at both FPL and Energy Resources.

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FPL - FIRST QUARTER 2022 RESULTS

Now let's look at the detailed results, beginning with FPL.

For the first quarter of 2022, FPL reported net income of $875 million,or 44 cents per share, an increase of 5 cents year-over-year.

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FPL - FIRST QUARTER 2022 DRIVERS

Regulatory capital employed growth of approximately 11.3% was asignificant driver of FPL's EPS growth versus the prior-year comparable

quarter. FPL's capital expenditures were approximately $2.2 billion for the

quarter. We expect our full-year 2022 capital investments at FPL to be between $7.9 billion and $8.3 billion.