Nexera Energy : Q4 2020 Remarks

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1. FOURTH QUARTER & FULL YEAR 2020 EARNINGS CONFERENCE CALL

Jessica Aldridge:

Thank you, Jason.

Good morning everyone, and thank you for joining our fourth quarter and full year 2020 combined earnings conference call for NextEra Energy and NextEra Energy Partners.

With me this morning are Jim Robo, Chairman and Chief Executive Officer of NextEra Energy, Rebecca Kujawa, Executive Vice President and Chief Financial Officer of NextEra Energy, John Ketchum, 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, President and Chief Executive Officer of Florida Power & Light Company.

Jim will provide some opening remarks and will then turn the call over to Rebecca for a review of our fourth quarter and full year results. Our executive team will then be available to answer your questions.

1. SAFE HARBOR STATEMENT AND NON-GAAPFINANCIAL INFORMATION

We will be making forward-looking statements during this call based on current expectations and assumptions which are subject to risks and uncertainties. Actual results could differ materially from our forward-looking

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statements if any of our key assumptions are incorrect or because of other factors 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 websites www.NextEraEnergy.com and 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.

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

Jim Robo:

1. NEXTERA ENERGY OPENING REMARKS

Thank you, Jessica, and good morning everyone.

2020 was a terrific year for both NextEra Energy and NextEra Energy Partners. NextEra Energy's performance was strong both financially and operationally. We had outstanding execution on our initiatives to continue to drive future growth across the company. Across all of our businesses,

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we successfully executed on the largest capital program in our history, deploying more than $14 billion in 2020 as we lead America's clean energy transformation. By successfully executing on our plans, NextEra Energy extended its long track record of delivering value for shareholders with adjusted earnings per share of $2.31, up 10.5% from 2019.

A key element of our value proposition at NextEra Energy is a culture focused on delivering outstanding results for our shareholders. Over the past 10 years, we have delivered compound annual growth in adjusted EPS of 8%, which is the highest among all top 10 power companies, who have achieved, on average, compound annual growth of less than 3% over the same period. Amid this significant growth, the company has maintained one of the strongest balance sheets and credit positions in the industry.

In 2020, we delivered a total shareholder return of approximately 30%, significantly outperforming both the S&P 500 and the S&P 500 Utilities Index, and continuing to outperform both indices in terms of total shareholder return on a one-,three-,five-,seven-, and ten-year basis. Over the past 15 years, we have outperformed all of the other companies in the S&P 500 Utilities Index and 86% of the companies in the S&P 500, while more than tripling the average total shareholder return of both indices. While we are proud of our long-term track record of creating shareholder

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value, we remain laser focused on the future and on delivering on our commitments.

NextEra Energy remains well positioned to capitalize on the disruptive forces reshaping our industry, which have expanded and accelerated over the past two years even beyond what we had anticipated. The combination of low-cost renewables with low-coststorage-in the form of batteries today and hydrogen in the longer term-has substantially increased the total addressable market for NextEra Energy. We now believe that a substantial, and economic, decarbonization of the electricity, transportation and industrial sectors is possible, which represents the potential investment opportunity of trillions of dollars in the coming decades. In the electricity sector, we expect that older and more inefficient generation will continue to be retired and replaced with cleaner and more affordable alternatives. In the transportation sector, we believe it will be increasingly economic to replace fossil-fueled vehicles with vehicles powered by fuel cells and batteries charged with renewable energy. And in the industrial sector, grey hydrogen and other high-carbon feedstocks can be replaced with green hydrogen. We believe these trends have already been put into motion driven by economics. In addition, we believe it is possible that the Biden administration, supported by a significant shift in

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