Financial Risks - XPLR's substantial amount of indebtedness may adversely affect its ability to operate and execute its business plan[20] - XPLR's long-term debt was approximately $5.9 billion as of September 30, 2025, with 99% not exposed to interest rate fluctuations due to being fixed rate or financially hedged[152] - A hypothetical 10% decrease in interest rates would increase the fair value of XPLR's long-term debt by approximately $94 million[152] - A hypothetical 10% decrease in rates would decrease XPLR's net derivative assets by approximately $48 million[153] - XPLR's future tax liability may exceed expectations if net operating losses (NOLs) are insufficient to offset taxable income[23] - XPLR's ability to use NOLs to offset future income may be limited, and distributions to unitholders may be taxable as dividends[23] Operational Risks - XPLR's renewable energy projects are significantly impacted by weather conditions, which can affect cash flows and operational performance[15] - The company relies on a limited number of customers and vendors, exposing it to credit and performance risks[15] - Changes in government laws and regulations regarding clean energy incentives could negatively impact XPLR's operations[20] - XPLR's ability to develop and acquire assets involves various risks, including project siting and financing challenges[20] - The company may not be able to extend or renew existing power purchase agreements (PPAs) at favorable rates[15] - XPLR's insurance coverage may not protect against all significant losses, impacting its financial stability[15] - The company is subject to environmental, health, and safety regulations that may require significant capital expenditures[15] Competitive Landscape - The company faces competition from regulated utility holding companies and independent power producers in the U.S. market[20] Governance and Structural Risks - XPLR's partnership agreement restricts remedies for common unit holders against breaches of fiduciary duties by directors or XPLR GP[23] - Holders of XPLR's common units cannot remove XPLR GP without NEE's consent, potentially delaying favorable acquisitions[23] - The issuance of common units may dilute ownership and impact the market price of XPLR's common units[23] Credit Risk Management - Credit risk is managed through credit policies and a diversified portfolio of counterparties to mitigate non-performance risks[154]

Financial Performance - XPLR Infrastructure reported a net loss of $37 million for Q3 2025, with adjusted EBITDA of $455 million, consistent with the prior-year period [3]. - Operating revenues for Q3 2025 were $315 million, a slight decrease from $319 million in Q3 2024 [16]. - Total operating expenses for Q3 2025 were $308 million, compared to $284 million in Q3 2024, reflecting an increase of approximately 8.5% [16]. - The net loss attributable to XPLR for Q3 2025 was $37 million, compared to a net loss of $40 million in Q3 2024 [16]. - Earnings per common unit attributable to XPLR for Q3 2025 were $(0.40), slightly improved from $(0.43) in Q3 2024 [16]. - Net income for the three months ended September 30, 2025, was a loss of $64 million, compared to a loss of $83 million for the same period in 2024 [21]. - Adjusted EBITDA for the nine months ended September 30, 2025, was $1,482 million, slightly up from $1,476 million in 2024 [21]. - Free cash flow before growth for the three months ended September 30, 2025, was $179 million, compared to $189 million in 2024 [21]. Cash Flow and Assets - Free cash flow before growth (FCFBG) for Q3 2025 was $179 million, down 5% year-over-year, primarily due to higher HoldCo interest expenses [3]. - Total current assets increased to $1,214 million as of September 30, 2025, from $860 million at December 31, 2024 [24]. - Cash and cash equivalents increased to $711 million as of September 30, 2025, from $283 million at December 31, 2024 [24]. - The net increase in cash, cash equivalents, and restricted cash for the nine months ended September 30, 2025, was $447 million, compared to an increase of $52 million in 2024 [26]. - The company generated net cash provided by operating activities of $553 million for the nine months ended September 30, 2025, compared to $517 million in 2024 [26]. Debt and Capital Structure - XPLR Infrastructure reduced its planned HoldCo debt issuance by $250 million for 2025-2026 [4]. - Interest expense for Q3 2025 was $94 million, down from $124 million in Q3 2024, indicating a reduction of approximately 24.2% [16]. - Total liabilities rose to $8,148 million as of September 30, 2025, compared to $7,426 million at December 31, 2024 [24]. Operational Highlights - The company completed approximately 960 megawatts of its announced 1.6-gigawatt repowering program to date [4]. - The company remains focused on simplifying its capital structure and optimizing its portfolio to create long-term value in the U.S. power sector [4]. - XPLR Infrastructure's portfolio includes diversified clean energy assets across wind, solar, and battery storage technologies [6]. Future Projections - For 2025, adjusted EBITDA is expected to be between $1.85 billion and $2.05 billion, while for 2026, it is projected to be between $1.75 billion and $1.95 billion [5]. - The decline in adjusted EBITDA expectations from 2025 to 2026 is mainly due to the absence of contributions from the Meade pipeline investment, sold in September 2025 [5]. Risks and Challenges - The company faces various risks, including weather conditions, operational challenges, and regulatory changes that could impact future performance [12]. - Management emphasizes the importance of adjusted EBITDA and FCFBG as key financial measures for performance analysis and capital allocation [8]. Impairments and Other Income - The company reported a goodwill impairment charge of $253 million for the nine months ended September 30, 2025 [16]. - The total other income (deductions) for Q3 2025 was $(23) million, an improvement from $(79) million in Q3 2024 [16]. - Equity in earnings of equity method investees increased to $66 million in Q3 2025 from $30 million in Q3 2024 [16]. - Capital expenditures for the nine months ended September 30, 2025, were $684 million, significantly higher than $189 million in 2024 [26].

Company Overview - XPLR Infrastructure operates approximately 10 GW of clean energy assets across 28 U S states[10, 11] - The company is the 3rd largest producer of wind and solar energy in the U S , with approximately 8 0 GW of wind, 1 7 GW of solar, and 0 2 GW of storage[11] - XPLR Infrastructure's net asset book value is approximately $18 billion, with an enterprise value of approximately $14 billion[12] - The company's TTM Adjusted EBITDA is approximately $2 billion, and TTM Free Cash Flow Before Growth (FCFBG) is approximately $0 8 billion[12] Portfolio and Strategy - XPLR Infrastructure's portfolio is diversified across technologies, U S regions, and 94 projects, with wind accounting for 80%, solar for 17%, and battery storage for 3%[16] - The company has long-term O&M agreements and a weighted average PPA life of approximately 12 years, with 100% of cash flows denominated in USD[18] - XPLR Infrastructure has interest rate hedges of approximately $3 0 billion[18] - The company's capital allocation strategy focuses on simplifying the capital structure, investing in existing assets, investing in clean energy assets, and returning capital to unitholders[26] Financial Performance and Outlook - XPLR Infrastructure completed approximately 960 MW of repowering projects to date toward the approximately 1 6 GW announced repowering program[42] - The company reaffirms its financial expectations for 2025 with Adjusted EBITDA between $1 85 billion and $2 05 billion[48] - XPLR Infrastructure expects Adjusted EBITDA between $1 75 billion and $1 95 billion and FCFBG between $600 million and $700 million for 2026[48, 60]

Core Viewpoint - Rosen Law Firm is reminding purchasers of XPLR Infrastructure, LP common units of a class action lawsuit with a lead plaintiff deadline of September 8, 2025 [1] Group 1: Class Action Details - Investors who purchased XPLR common units between September 27, 2023, and January 27, 2025, may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2] - A class action lawsuit has already been filed, and interested parties can join by contacting Rosen Law Firm [3][6] - Investors wishing to serve as lead plaintiff must file with the court by September 8, 2025 [3] Group 2: Law Firm Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved the largest settlement against a Chinese company at the time and being ranked No. 1 for securities class action settlements in 2017 [4] - The firm has recovered hundreds of millions of dollars for investors, securing over $438 million in 2019 alone [4] - Founding partner Laurence Rosen was recognized as a Titan of Plaintiffs' Bar by Law360 in 2020 [4] Group 3: Case Allegations - The lawsuit alleges that XPLR made false and misleading statements regarding its operations as a yieldco, struggling to maintain operations and downplaying risks associated with financing arrangements [5] - It is claimed that XPLR planned to halt cash distributions to investors to resolve financing issues, indicating an unsustainable business model [5] - The lawsuit asserts that the public statements made by defendants were materially false and misleading, leading to investor damages when the truth was revealed [5]

Core Viewpoint - Rosen Law Firm is reminding purchasers of XPLR Infrastructure, LP common units of a class action lawsuit with a lead plaintiff deadline of September 8, 2025, for those who bought units between September 27, 2023, and January 27, 2025 [1] Group 1: Class Action Details - Investors who purchased XPLR common units during the specified Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2] - A class action lawsuit has already been filed, and interested parties can join by contacting Rosen Law Firm [3][6] - Investors wishing to serve as lead plaintiff must file with the Court by September 8, 2025 [3] Group 2: Rosen Law Firm's Credentials - Rosen Law Firm emphasizes the importance of selecting qualified counsel with a successful track record in securities class actions [4] - The firm has achieved significant settlements, including the largest securities class action settlement against a Chinese company at the time, and has recovered hundreds of millions for investors [4] - In 2019, the firm secured over $438 million for investors, and its founding partner was recognized as a Titan of Plaintiffs' Bar by Law360 in 2020 [4] Group 3: Case Allegations - The lawsuit alleges that XPLR made false and misleading statements regarding its operations as a yieldco, including struggles to maintain operations and the unsustainability of its business model [5] - It is claimed that XPLR entered financing arrangements while downplaying risks, which ultimately led to a halt in cash distributions to investors [5] - The lawsuit asserts that the public statements made by the defendants were materially false and misleading, resulting in investor damages when the truth was revealed [5]

Core Viewpoint - Rosen Law Firm is reminding purchasers of XPLR Infrastructure, LP common units of a class action lawsuit with a lead plaintiff deadline of September 8, 2025, for those who bought units between September 27, 2023, and January 27, 2025 [1]. Group 1 - Investors who purchased XPLR common units during the specified Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties can join by contacting Rosen Law Firm [3][6]. - The firm emphasizes the importance of selecting qualified legal counsel with a successful track record in securities class actions [4]. Group 2 - The lawsuit alleges that throughout the Class Period, XPLR made false and misleading statements regarding its operations as a yieldco, including struggles to maintain operations and the unsustainability of its business model [5]. - Specific claims include that XPLR entered financing arrangements while downplaying risks, could not resolve these financings without significant unitholder dilution, and planned to halt cash distributions to investors [5].

Core Viewpoint - Rosen Law Firm is reminding purchasers of common units of XPLR Infrastructure, LP (formerly Nextera Energy Partners, LP) about a class action lawsuit and the upcoming lead plaintiff deadline on September 8, 2025 [1]. Group 1: Class Action Details - Investors who purchased XPLR common units between September 27, 2023, and January 27, 2025, may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties can join by contacting Rosen Law Firm [3][6]. - The lead plaintiff must file a motion with the Court by September 8, 2025, to represent other class members in the litigation [3]. Group 2: Law Firm Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved the largest settlement against a Chinese company at the time and being ranked No. 1 for securities class action settlements in 2017 [4]. - The firm has recovered hundreds of millions of dollars for investors, including over $438 million in 2019 alone [4]. - Founding partner Laurence Rosen was recognized as a Titan of Plaintiffs' Bar by Law360 in 2020, and many attorneys at the firm have received accolades from Lawdragon and Super Lawyers [4]. Group 3: Case Allegations - The lawsuit alleges that during the class period, XPLR made false and misleading statements regarding its operations as a yieldco, struggling to maintain operations and downplaying risks associated with financing arrangements [5]. - It is claimed that XPLR could not resolve its financing issues without risking significant unitholder dilution and planned to halt cash distributions to redirect funds to resolve these financings [5]. - The lawsuit asserts that the yieldco business model and distribution growth rate were unsustainable, leading to materially false and misleading public statements by the defendants [5].

Core Viewpoint - A class action lawsuit has been filed against XPLR Infrastructure, LP (formerly Nextera Energy Partners, LP) for misleading statements made during the Class Period from September 27, 2023, to January 27, 2025, potentially affecting investors' rights and financial interests [1][5]. Group 1: Lawsuit Details - The lawsuit claims that XPLR was struggling to maintain its operations as a yieldco, which focuses on delivering cash distributions to investors [5]. - Defendants allegedly made false statements and failed to disclose significant risks associated with financing arrangements that temporarily alleviated operational issues [5]. - The lawsuit asserts that XPLR's business model and distribution growth rate were unsustainable, leading to planned halts in cash distributions to investors [5]. Group 2: Investor Information - Investors who purchased XPLR common units during the Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - To join the class action, investors can visit the provided link or contact the law firm for more information [3][6]. - A lead plaintiff must be appointed by September 8, 2025, to represent other class members in the litigation [1][3]. Group 3: Law Firm Credentials - The Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements for investors, including over $438 million in 2019 [4]. - The firm has been recognized for its leadership in securities class action settlements, ranking No. 1 in 2017 and consistently in the top 4 since 2013 [4].

Core Viewpoint - Rosen Law Firm is reminding purchasers of common units of XPLR Infrastructure, LP about the lead plaintiff deadline for a class action lawsuit related to misleading statements made by the company during the class period from September 27, 2023, to January 27, 2025 [1][5]. Group 1: Class Action Details - Investors who purchased XPLR common units during the class period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties must move the court to serve as lead plaintiff by September 8, 2025 [3]. - Investors can join the class action by visiting the provided link or contacting the law firm directly for more information [6]. Group 2: Law Firm Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved the largest securities class action settlement against a Chinese company at the time and being ranked No. 1 for the number of settlements in 2017 [4]. - The firm has recovered hundreds of millions of dollars for investors, securing over $438 million in 2019 alone [4]. - Founding partner Laurence Rosen has been recognized as a Titan of Plaintiffs' Bar by Law360, highlighting the firm's expertise in this area [4]. Group 3: Allegations Against XPLR - The lawsuit alleges that XPLR made false and misleading statements regarding its operations as a yieldco, including struggles to maintain operations and the unsustainability of its business model [5]. - It is claimed that XPLR entered financing arrangements to temporarily alleviate operational issues while downplaying associated risks [5]. - The lawsuit asserts that XPLR's public statements were materially false and misleading, leading to investor damages when the true situation was revealed [5].

Core Viewpoint - A class action lawsuit has been filed against XPLR Infrastructure, LP (formerly Nextera Energy Partners, LP) for misleading statements made during the Class Period from September 27, 2023, to January 27, 2025, potentially affecting investors' rights and financial interests [1][5]. Group 1: Lawsuit Details - The lawsuit alleges that XPLR was struggling to maintain its operations as a yieldco, which is a business model focused on delivering cash distributions to investors [5]. - Defendants reportedly made false and misleading statements regarding the company's financial health and operational sustainability, which led to investor damages when the truth was revealed [5]. - The lawsuit claims that XPLR entered into financing arrangements to temporarily alleviate operational issues but downplayed the associated risks, ultimately leading to a halt in cash distributions to investors [5]. Group 2: Investor Information - Investors who purchased XPLR common units during the Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - To join the class action, investors can visit the provided link or contact the law firm for more information [3][6]. - A lead plaintiff must be appointed by September 8, 2025, to represent the interests of other class members in the litigation [1][3]. Group 3: Law Firm Credentials - The Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements for investors, including over $438 million in 2019 alone [4]. - The firm has been recognized for its success in securities class action settlements and has consistently ranked among the top firms in this area since 2013 [4].