Investor Presentation

Rising power prices and demand for renewable energy credits (RECs) as a result of corporate sustainability goals are further stimulating demand for new renewables Electrification and Renewables Attributes Power Prices (1) Cal. Year 7x24 ($/MWh) ~40% increase in 5-year forward prices in ~5 months Voluntary REC Prices (1) ($/MWh) $4.75 60% CAGR over past five years $115 $105 $95 $85 $75 $65 139% $55 $45 $35 5/31/2022 $0.72 $0.65 $0.80 Year-End 20211 43% $25 2022 2023 2024 2025 2026 $3.30 2018 2019 2020 2021 2022 We believe rising gas and power prices and increased demand for RECS creates long-term price support for renewables 28 1) Based on ERCOT market NEXTera® ENERGY

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