Investor Presentation

The competitive position of renewables continues to improve as the impacts of the Inflation Reduction Act have more than offset the inflation observed over the last two years Prevailing Inflation Impacts on Levelized Costs (1) Impacts of Inflation on Levelized Costs (1) Existing New Natural $3/MMbtu Gas New $/MWh Comparison in 2023 (2) $3/MMbtu Gas New Gas-Fired Unit (3) -45% Headroom to Gas-fired Generation -63% Headroom to Gas-fired Generation Natural Gas +19% (2) Gas Wind New +17% (2) (w/o IRA) Solar +9% (w/o IRA) +5% New Wind (w/ IRA) (9%) New Solar (w/ IRA) (11%) New Natural Gas New New Solar Wind 11 23 Even at $3/MMBtu natural gas, renewables continue to be significantly cost competitive 1) Levelized cost of energy comparisons from January 2021 to February 2023; assumes $3/MMbtu natural gas, which is below the current forward curve Assumes $3/MMbtu natural gas, which is below the current forward curve Includes fixed and variable O&M and fuel; existing natural gas assumes a 7,500 Btu/kWh heat rate; new natural gas assumes 6,800 Btu/kWh heat rate and capital recovery NEXTera® ENERGY

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