Earnings Conference Call Third Quarter 2020 October 21, 2020 XTera NEXTera energy® PARTNERS W 2 Cautionary Statements And Risk Factors That May Affect Future Results These presentations include 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. These ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number Exact name of registrant as specified in its charter, address of principal executive offices and registrant's telephone number ...

Earnings Conference Call Second Quarter 2020 July 24, 2020 XTera NEXTera energy® PARTNERS W 2 Cautionary Statements And Risk Factors That May Affect Future Results These presentations include 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. These pr ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Exact name of registrant as specified in its charter, address of principal executive offices and registrant's telephone number IRS Employer Identifi ...

Earnings Conference Call First Quarter 2020 April 22, 2020 NEXTera® FNFBGY & NEXTera energy® PARTNERS W 2 Cautionary Statements And Risk Factors That May Affect Future Results These presentations include 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 filin ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ | Commission | Exact name of registrant as specified in its | IRS Employer | | --- | --- | --- | | File | charter, address of principal executive offices ...

Earnings Conference Call Fourth Quarter and Full Year 2019 January 24, 2020 KTella NEXTera energy® PARTNERS W Cautionary Statements And Risk Factors That May Affect Future Results These presentations include 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 f ...

[Forward-Looking Statements](index=4&type=section&id=Forward-Looking%20Statements) This report contains forward-looking statements involving estimates and uncertainties, outlining factors that could cause different results [Forward-Looking Statements](index=4&type=section&id=Forward-Looking%20Statements) The company outlines numerous operational, financial, and other risks that could cause actual results to differ from projections - The company identifies several categories of risks that could impact its operations and financial results, qualifying all forward-looking statements[11](index=11&type=chunk) - Key operational risks include project performance, weather conditions, reliance on specific projects, and regulatory changes[12](index=12&type=chunk)[13](index=13&type=chunk) - Contract risks are highlighted, particularly the exposure to **PG&E's Chapter 11 bankruptcy** and expiring agreements[14](index=14&type=chunk)[15](index=15&type=chunk) - Risks related to financial activities include access to capital, debt restrictions, and exposure to interest rate swaps[16](index=16&type=chunk) - The relationship with NextEra Energy, Inc (NEE) presents risks, including **NEE's significant influence** and potential conflicts of interest[17](index=17&type=chunk)[18](index=18&type=chunk) - Ownership and taxation risks include potential dilution from new unit issuances and the possibility of future tax liabilities[19](index=19&type=chunk)[20](index=20&type=chunk) PART I - FINANCIAL INFORMATION [Financial Statements](index=8&type=section&id=Item%201.%20Financial%20Statements) The statements show a Q3 2019 net loss of $72 million versus a Q3 2018 net income of $33 million, driven by derivative losses [Condensed Consolidated Statements of Income (Loss)](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income%20(Loss)) Q3 2019 revenues grew to $253 million, but a large interest expense from derivatives led to a net loss attributable to NEP of $72 million Selected Income Statement Data (in millions, except per unit) | Metric | Q3 2019 | Q3 2018 | YTD 2019 | YTD 2018 | | :--- | :--- | :--- | :--- | :--- | | Total Operating Revenues | $253 | $178 | $649 | $615 | | Operating Income | $88 | $59 | $190 | $411 | | Interest Expense | ($372) | $31 | ($735) | ($93) | | Net Income (Loss) | ($243) | $110 | ($488) | $383 | | Net Income (Loss) Attributable to NEP | ($72) | $33 | ($122) | $189 | | EPS - basic | ($1.21) | $0.60 | ($2.12) | $3.47 | [Condensed Consolidated Balance Sheets](index=10&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets grew to $11.6 billion and total liabilities rose to $5.4 billion, primarily due to acquisitions and related financing Selected Balance Sheet Data (in millions) | Metric | Sep 30, 2019 | Dec 31, 2018 | | :--- | :--- | :--- | | Total Current Assets | $1,032 | $340 | | Property, Plant and Equipment - net | $6,982 | $6,770 | | **Total Assets** | **$11,595** | **$9,405** | | Total Current Liabilities | $645 | $859 | | Long-Term Debt | $3,719 | $2,728 | | **Total Liabilities** | **$5,419** | **$3,867** | | **Total Equity** | **$6,176** | **$5,538** | [Condensed Consolidated Statements of Cash Flows](index=12&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Operating cash flow remained stable, while investing cash outflow surged to $1.5 billion for acquisitions, funded by new financing Cash Flow Summary (in millions) | Cash Flow Activity | Nine Months Ended Sep 30, 2019 | Nine Months Ended Sep 30, 2018 | | :--- | :--- | :--- | | Net Cash Provided by Operating Activities | $252 | $269 | | Net Cash Used in Investing Activities | ($1,519) | ($213) | | Net Cash Provided by (Used in) Financing Activities | $1,311 | ($142) | | **Net Increase (Decrease) in Cash** | **$44** | **($88)** | [Notes to Condensed Consolidated Financial Statements](index=18&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail significant acquisitions, related debt financing, and the ongoing impact of the PG&E bankruptcy on project cash flows - In June 2019, NEP acquired a portfolio of wind and solar assets from NEER for approximately **$1.02 billion in cash**[48](index=48&type=chunk)[49](index=49&type=chunk)[50](index=50&type=chunk) - In September 2019, NEP entered an agreement to acquire Meade Pipeline Co LLC for approximately **$1.28 billion in cash**[53](index=53&type=chunk) - NEP issued **$700 million of 4.25% senior notes** and **$500 million of 3.875% senior notes**, and upsized its credit facility to $1.25 billion[80](index=80&type=chunk)[82](index=82&type=chunk)[84](index=84&type=chunk) - The PG&E bankruptcy caused events of default on project financings, **restricting approximately $79 million in cash distributions**[118](index=118&type=chunk)[121](index=121&type=chunk)[124](index=124&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=34&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Acquisitions drove revenue growth while derivative mark-to-market losses caused a net loss; liquidity remains strong at over $2.1 billion [Results of Operations](index=34&type=section&id=Results%20of%20Operations) Acquisitions drove a $75 million YoY revenue increase in Q3, while a $382 million unfavorable derivative swing caused a net loss - Q3 2019 renewable energy sales increased by **$77 million YoY**, with $65 million from recent acquisitions[132](index=132&type=chunk) - Q3 2019 O&M expenses increased by **$25 million YoY**, primarily due to $16 million from newly acquired projects[133](index=133&type=chunk) - Q3 2019 interest expense increased by **$403 million YoY**, mainly due to $382 million in unfavorable mark-to-market activity[136](index=136&type=chunk) - For the nine months ended Sep 30, 2019, increased investing cash use was driven by the **$1.028 billion June 2019 acquisition**[174](index=174&type=chunk) [Liquidity and Capital Resources](index=37&type=section&id=Liquidity%20and%20Capital%20Resources) Total liquidity increased to $2.1 billion, bolstered by new debt and equity financing to fund the company's acquisition strategy Liquidity Position (in millions) | Component | Sep 30, 2019 | Dec 31, 2018 | | :--- | :--- | :--- | | Cash and cash equivalents | $195 | $147 | | Amounts due under the CSCS agreement | $525 | $66 | | Available under revolving credit facilities | $1,400 | $900 | | Available under letter of credit facilities | $14 | $14 | | **Total Liquidity** | **$2,134** | **$1,127** | - In 2019, NEP increased its revolving credit facility to **$1.25 billion**, issued **$1.2 billion in senior notes**, and raised **$900 million** from a noncontrolling interest sale[161](index=161&type=chunk)[164](index=164&type=chunk)[166](index=166&type=chunk) - On October 21, 2019, the board authorized a quarterly distribution of **$0.5175 per common unit**[89](index=89&type=chunk)[171](index=171&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=35&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is primarily exposed to interest rate and counterparty credit risk, managed through derivatives and diversification - NEP is exposed to interest rate risk on its **$4.1 billion in long-term debt**; a 10% rate decrease would increase its fair value by $118 million[177](index=177&type=chunk)[178](index=178&type=chunk) - A hypothetical 10% decrease in rates would increase net derivative liabilities by **$305 million** on a net notional amount of $6.8 billion[179](index=179&type=chunk) - NEP faces counterparty credit risk, managed through credit policies, with a specific mention of risks related to **PG&E's bankruptcy**[180](index=180&type=chunk) [Controls and Procedures](index=35&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective, with no material changes to internal controls - Management, including the CEO and CFO, concluded that NEP's disclosure controls and procedures were **effective as of September 30, 2019**[182](index=182&type=chunk) - **No material changes** to the company's internal control over financial reporting occurred during the most recent fiscal quarter[183](index=183&type=chunk) PART II - OTHER INFORMATION [Risk Factors](index=36&type=section&id=Item%201A.%20Risk%20Factors) No material changes have occurred to the risk factors previously disclosed in the company's annual and quarterly reports - There have been **no material changes** from the risk factors disclosed in the 2018 Form 10-K and the March 2019 Form 10-Q[186](index=186&type=chunk) [Exhibits](index=36&type=section&id=Item%206.%20Exhibits) This section lists filed exhibits, including acquisition agreements, notes offering documents, and required officer certifications - Exhibits filed include agreements for the **Meade pipeline acquisition**, documents for the 3.875% Senior Notes, and required CEO/CFO certifications[187](index=187&type=chunk)

NextEra Energy, Inc. (NYSE:NEE) Q3 2019 Results Earnings Conference Call October 22, 2019 9:00 AM ET Company Participants Matthew Roskot - IR Jim Robo - Chairman and CEO Rebecca Kujawa - EVP and CFO John Ketchum - President and CEO, NextEra Energy Resources Mark Hickson - EVP NextEra Energy, NextEra Energy Partners Eric Silagy - President and CEO of Florida Power & Light Company Conference Call Participants Greg Gordon - Evercore ISI Steve Fleishman - Wolfe Research Stephen Byrd - Morgan Stanley Richard Cic ...

NextEra Energy (NEE) Third Quarter 2019 Highlights - NEE's adjusted EPS grew by approximately 10% year-over-year[7] - Energy Resources added approximately 1,375 MW to renewables backlog, including nearly 350 MW of battery storage projects[7] - FPL's customer bills remain nearly 30% below the national average and the lowest among all the Florida IOUs[7] - FPL's earnings per share increased 3 cents from the prior-year comparable quarter, reaching $1.40 in 2019 from $1.37 in 2018[8] - Gulf Power contributed adjusted EPS of 16 cents before accounting for financing costs reflected at Corporate & Other Results[13] Energy Resources Third Quarter 2019 Results - Energy Resources' adjusted EPS increased approximately 19% from the prior-year comparable quarter[29] - Energy Resources' adjusted EPS was $0.87 in 2019 compared to $0.73 in 2018[30] - Energy Resources added 1,373 MW to renewables backlog[35] NextEra Energy Partners (NEP) Third Quarter 2019 Highlights - NEP achieved adjusted EBITDA and CAFD growth of 55% and 81%, respectively[41] - Excluding all contributions from the Desert Sunlight projects, CAFD increased 54%[41] - NEP Board declared a quarterly distribution of $0.5175 per common unit, up 15% from prior-year comparable period[41] - NEP expects to yield a double digit return to NEP LP unitholders and generate a CAFD yield of approximately 14% from Meade Pipeline Company acquisition[41]