Earnings Conference Call

Third Quarter 2018

October 23, 2018

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.

NextEra Energy achieved strong financial results in the third quarter

NextEra Energy

Third Quarter 2018 Highlights

  • • NEE grew adjusted EPS ~18% versus the prior comparable quarter - ~14% increase year-to-date versus 2017

  • • Continued strong execution at FPL - Achieved 2018 target regulatory ROE of 11.6% - Regulatory capital employed growth of ~13% versus Q3 2017

  • • Completed the acquisition of Florida City Gas

  • • Acquisitions of Gulf Power and natural gas plants continue to progress well

    • - FERC change of control proceedings are now uncontested and FTC granted early termination of the Hart-Scott-Rodino Antitrust waiting period

    • - Gulf Power transaction expected to close in first half of 2019

  • • A record period of renewables origination at Energy Resources, adding nearly 2,100 MW to backlog

    - Includes ~650 MW of wind repowering, 120 MW of battery storage projects

    - First combined wind, solar and battery storage transaction, including largest combined solar and storage facility in the U.S. announced to date

FPL's earnings per share increased 18 cents from the prior- year comparable quarter

Florida Power & Light Results - Third Quarter

Net Income

($ MM)

$566

EPS

$654

$1.37

$1.19

2017

2018

2017

2018

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

Florida Power & Light EPS Contribution Drivers

EPS Growth

Regulatory Capital Employed(1)

(Excluding Accumulated Deferred Income Taxes)

Third Quarter

FPL - 2017 EPS

Drivers: Investments

Base Revenues/Cost Management Wholesale Operations

Other, including Share Dilution

$1.19

$0.10 $0.04 $0.03 $0.01

FPL - 2018 EPS

$1.37

$B

35.0

30.0

25.0

20.0

15.0

10.0

5.0

0.0

Q3 2017

Retail Rate BaseQ3 2018Other

1) 4 month average; includes retail rate base, wholesale rate base, clause-related investments, and AFUDC projects; Q3 2017 and Q3 2018 reflect adjustments related to removal of accumulated deferred income taxes of $7.9 B and $8.3 B, respectively

Attachments

Disclaimer

NextEra Energy Partners LP published this content on 23 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 23 October 2018 11:42:09 UTC