NextEra Energy (NEE) 10-K risk factor changes: FY2025 vs FY2024

This extensive regulatory framework, portions of which are more specifically identified in the following risk factors, regulates, among other things and to varying degrees, NEE's and FPL's industry, businesses, operations, and rates and cost structures, including: [added: siting,] permitting, planning, construction and operation of electric generation, storage, transmission and distribution facilities and natural gas, oil and other fuel production, transportation, processing and storage facilities; acquisitions, disposals, depreciation and amortization of facilities and other assets; decommissioning costs and funding; service reliability; wholesale and retail competition; and commodities trading and derivatives transactions.

FPL operates as an electric utility and is subject to the jurisdiction of the FPSC over a wide range of business activities, including, among other items, the retail rates charged to its customers through base rates and cost recovery clauses, the terms and conditions of its services, procurement of electricity for its customers and fuel for its plant operations, issuances of securities, and aspects of the siting, [added: permitting,] planning, construction and operation of its [removed: generation plants and] [added: generation, storage,] transmission and distribution [removed: systems] [added: facilities] for the sale of electric energy.

The FPSC has the authority to disallow recovery by FPL of costs that it considers excessive or imprudently [removed: incurred, including those] incurred [removed: to transition to lower carbon emission technology,] and to determine the level of return that FPL is permitted to earn on invested capital.

The regulatory process, which may be adversely affected by the geopolitical, political, regulatory, operational and economic environment in Florida and elsewhere, limits or could otherwise adversely impact [added: NEE's and] FPL's earnings.

Certain other subsidiaries of [removed: NEE] [added: NEE, such as subsidiaries of NEET,] are utilities subject to the [added: ratemaking] jurisdiction of [removed: their regulators] [added: FERC, the PUCT or the OEB] and are subject to similar risks.

Any reductions or modifications to, or the elimination of, governmental incentives or policies that support clean energy, including, but not limited to, tax laws, policies and incentives, RPS and feed-in-tariffs, or [added: changes in or] the imposition of additional taxes, tariffs, duties or other costs or assessments on clean energy or the equipment necessary to generate, store or deliver it, could result in, among other items, the lack of a satisfactory market for the development and/or financing of new clean energy projects, NEE and FPL abandoning the development of clean energy projects, [removed: a loss of investments][added: a]

[removed: in] [added: loss of investments in] clean energy projects and reduced project returns, any of which could have a material adverse effect on NEE's and FPL's business, financial condition, results of operations and prospects.

NEE depends [removed: heavily] on government policies that support clean energy and enhance the economic feasibility of developing and operating clean energy projects in regions in which NEER and FPL operate or plan to develop and operate such facilities.

However, as a result of budgetary constraints, geopolitical factors, political factors or otherwise, governments from time to time may review their laws and policies that support, or do not overly burden, the development and operation of clean energy facilities and, instead, consider [removed: actions] [added: or take actions, such as the OBBBA and related governmental actions,] that [added: make or] would make the laws and policies less conducive to the development and operation of such projects.

Any reductions or modifications to, or the elimination of, governmental incentives or policies that support clean [removed: energy, such as PTCs] [added: energy] or [removed: ITCs,] [added: changes in] or the imposition of additional taxes, tariffs, duties or other costs or assessments on clean energy or the equipment necessary to generate, store or deliver it, [removed: such as policies in place that limit certain imports from China and other Southeast Asian countries,] could result in, among other items, [added: higher equipment costs, scarcity of equipment,] the lack of a satisfactory market for the development and/or financing of new clean energy projects, NEE and FPL abandoning the development of clean energy projects, a loss of investments in the projects and reduced project returns, any of which could have a material adverse effect on NEE's and FPL's business, financial condition, results of operations and prospects.

Changes in the nature of the regulation of NEE's and FPL's business through this type or other types of legal [removed: activity] [added: activity, such as the repeal, revocation or reversal of existing laws, regulations or actions,] could have a material adverse effect on NEE's and FPL's business, financial condition, results of operations and prospects.

FPL has limited, but growing, competition in the Florida market for retail electricity customers and is not subject to [removed: a] [added: an] RPS.

Any changes in Florida law or regulation, whether through [removed: new] [added: new, modified, repealed] or [removed: modified] [added: overturned] legislation, regulation or executive action or through citizen-approved state constitutional ballot initiatives, which increase competition in the Florida retail electricity market, such as government incentives that would further facilitate the installation of solar generation facilities on residential or other [removed: rooftops,] [added: rooftops or] would permit third-party sales of [removed: electricity or would mandate the transition to renewable energy at FPL,] [added: electricity,] could have a material adverse effect on FPL's business, financial condition, results of operations and prospects.

FERC regulation of transmission and wholesale power transactions, including the ability of new energy infrastructure projects to [added: interconnect to the transmission grid and] sell the power they [removed: produce under power purchase agreements,] [added: produce,] evolves over time as a result of rulemaking proceedings and new legislative directives from Congress.

NEE cannot predict the impact of changing FERC rules or policies of the RTOs and ISOs, such as [added: existing or potential future] rules governing [added: economic dispatch,] generator [removed: interconnection procedures] and [added: load interconnection procedures,] transmission planning [removed: requirements and] [added: requirements,] cost allocation [removed: methodologies,] [added: methodologies and cost recovery policies,] or the effect of changes in levels of wholesale supply and demand, which are typically driven by factors beyond NEE's control.

There can be no assurance that FPL or NEER will be able to respond adequately [removed: or sufficiently quickly] to such rules and developments, which may impact the ability, timeline and cost [removed: of interconnecting] [added: to interconnect] new or repowered energy projects to the transmission system and the availability of transmission system capacity to deliver energy products to market, or to any changes that reverse or restrict the competitive restructuring of the energy industry in those jurisdictions in which such restructuring has occurred.

NEE expects the laws and [removed: regulation] [added: regulations] applicable to its business and the energy industry, including laws and regulations generally [added: supportive of clean energy project development, generally to be in a state of transition for the foreseeable future.]

[removed: Changes in the] structure of the industry or in such laws and regulations could have a material adverse effect on NEE's and FPL's business, financial condition, results of operations and prospects.

NEE and FPL are subject to domestic environmental laws, regulations and other standards, including, but not limited to, extensive federal, state and local environmental statutes, rules and regulations relating to air quality, water quality and usage, soil quality, [removed: climate change,] greenhouse gas emissions, waste management, hazardous wastes, marine, avian, bat and other wildlife mortality and habitat protection, historical artifact preservation, natural resources, health (including, but not limited to, electric and magnetic fields from power lines and substations), [removed: safety] [added: safety, fire prevention] and RPS, that could, among other things, prevent or delay the development of [removed: power] [added: electric] generation, [removed: storage] [added: storage, transmission] and [removed: transmission,] [added: distribution facilities,] gas transportation, or other development projects, restrict or enjoin the output of some existing facilities, limit the availability and use of some fuels required for the production of electricity, require additional pollution control [added: and fire prevention] equipment, and otherwise increase costs, increase capital expenditures and limit or eliminate certain operations.

There can be no assurance that NEE or FPL would be able to completely recover any such costs or investments, which could have a material adverse effect on [removed: their] [added: its] business, financial condition, results of operations and prospects.

NEE's and FPL's operations and businesses are subject to extensive federal, state and local government regulation, which generally imposes significant and increasing compliance [removed: costs on their operations and businesses.][added: costs.]

[added: Additionally, any actual or] alleged compliance failures could result in significant costs and other potentially adverse effects of regulatory investigations, proceedings, settlements, decisions [removed: and claims, including, among other items, potentially significant monetary penalties.]

Changes in tax laws, guidance or policies, including but not limited [removed: to] [added: to,] changes in corporate income tax [removed: rates,] [added: rates and the qualifications for clean energy tax credits,] as well as judgments and estimates used in the determination of tax-related asset and liability amounts, could materially adversely affect NEE's and FPL's business, financial condition, results of operations and prospects.

Actual income taxes could vary significantly from estimated amounts due to the future impacts of, among other things, changes in tax laws, guidance or policies, including, but not limited to, changes in corporate income tax rates, [removed: renewable] [added: clean] energy tax credits and transferability of [removed: renewable] [added: clean] energy tax credits, the issuance of guidance related to the qualification for [removed: renewable] [added: clean] energy tax credits and bonus credits, the financial condition and results of operations of NEE and FPL and the resolution of audit issues raised by taxing authorities.

NEE's and FPL's business, financial condition, results of operations and prospects may be materially [removed: adversely] affected due to adverse results of litigation.

NEE's and FPL's business, financial condition, results of operations and prospects could suffer if NEE and FPL do not proceed with projects under development or are unable to complete the construction of, or capital improvements to, electric generation, storage, transmission and distribution facilities, natural gas and oil production and transportation facilities [removed: or] [added: and] other facilities on schedule or within budget.

NEE's and FPL's ability to proceed with projects under development and to complete construction of, and capital improvement projects for, their electric generation, storage, transmission and distribution facilities, natural gas and oil production and transportation facilities and other facilities on schedule and within budget have been, from time to time, and in the future may be, adversely affected by [added: timely availability of equipment and labor,] escalating costs for [removed: materials and] [added: materials,] labor and regulatory compliance, inability to [removed: obtain] [added: obtain, maintain] or renew necessary licenses, rights-of-way, permits or other approvals on acceptable terms or on schedule, disputes involving contractors, labor organizations, land owners, governmental entities, environmental groups, Native American and aboriginal groups, lessors, joint venture partners, suppliers and other third parties, negative publicity, transmission interconnection issues, geopolitical factors, supply chain disruptions, inflation, rising interest rates and other factors.

For example, the ability of NEE and FPL to develop [removed: solar] [added: certain] generation and [removed: battery] storage facilities is dependent on the international supply chain for [removed: solar panels,] [added: generation equipment,] batteries and [added: other] associated equipment, and governmental or regulatory actions have caused [removed: minor, and could in the future cause material,]

[added: minor, and could in the future cause material,] disruptions in the ability of NEE and FPL to acquire [removed: solar panels] [added: certain generation equipment] and batteries on time and at acceptable costs.

NEE and FPL face risks related to project siting, [removed: financing,] construction, permitting, governmental approvals and the negotiation of project development agreements that may impede their development and operating activities.

NEE and FPL own, develop, construct, manage and operate electric generation, [removed: storage and] [added: storage,] transmission [added: and distribution] facilities and natural gas pipelines.

A key component of NEE's and FPL's growth is their ability to [added: site, permit,] construct and operate generation, storage, transmission [added: and distribution] facilities and natural gas pipelines to meet customer needs.

As part of these operations, NEE and FPL must periodically apply for licenses and [removed: permits] [added: permits, including those related to project siting,] from various local, state, federal and other regulatory authorities and abide by their respective conditions.

Should NEE or FPL be unsuccessful in obtaining [added: or maintaining] necessary licenses or permits on acceptable terms or resolving third-party challenges to such licenses or permits, should there be any delay in obtaining or renewing necessary licenses or permits or should regulatory authorities initiate any associated investigations or enforcement actions or impose related penalties or disallowances on NEE or FPL, NEE's and FPL's business, financial condition, results of operations and prospects could be materially adversely affected.

NEE's and FPL's electric generation, storage, transmission and distribution facilities, natural gas and oil production and transportation facilities and other facilities are subject to many operational [added: uncertainties and] risks.

Operational [added: uncertainties and] risks could result in, among other things, lost revenues due to prolonged outages, increased expenses due to monetary penalties or fines for compliance failures or legal claims, liability to third parties for property and personal injury damage or loss of life, unsatisfied customers, a failure to perform under applicable power sales agreements or other agreements and associated loss of revenues from terminated agreements or liability for liquidated damages under continuing agreements, and replacement equipment costs or an obligation to purchase or generate replacement power at higher prices.

Uncertainties and risks inherent in operating and maintaining NEE's and FPL's facilities [added: that could cause these results] include, but are not limited to:

- breakdown or [removed: failure, including, but not limited to, explosions, fires, leaks or other major events,] [added: failure] of equipment, transmission or distribution systems or [removed: pipelines;][added: pipelines whether as a result of explosions, fires, leaks, other events or otherwise;]

- [added: lack of] availability of replacement equipment;

- risks of property damage, human injury or loss of life from energized equipment, hazardous substances or explosions, fires, leaks or other events, [removed: especially] [added: including] where facilities are located near populated areas;

Changes in the

and claims, including, among other items, potentially significant monetary penalties.

Additionally, NEER is actively pursuing the restart of the Duane Arnold nuclear generation facility.

The restart is subject to certain regulatory approvals, including NRC safety and environmental reviews, as well as permits from relevant state and local agencies.

NEER has applied to the NRC to reinstate the operating license and to MISO for an interconnection agreement.

Failure to obtain the necessary approvals could result in the impairment of amounts capitalized.

Further, NEE could encounter difficulty in procuring or restoring specialized components which could impact the restart timeline.

NEE could incur costs greater than expected or encounter unforeseen issues.

The productivity increases and competitive advantages NEE and FPL plan to achieve through the use of artificial intelligence (AI) technologies may not be realized and the use of and reliance on AI may present certain risks, both of which could materially adversely affect their business, financial condition, results of operations and prospects.

NEE and FPL use AI technologies in various aspects of their operations, including, without limitation, financial analysis, strategic planning, field work intelligence, work scheduling, grid optimization, energy forecasting, customer service and operations management.

The use of and reliance on AI may present certain risks such as, but not limited to, AI tools may malfunction, produce inaccurate or biased outputs, or behave unpredictably, and introduce NEE and FPL to additional cybersecurity threats and data privacy risks.

In addition, as NEE and FPL rely on third-party vendors for certain AI tools, platforms and collaborations, NEE and FPL could experience third-party vendor issues such as disruptions in vendor relationships, performance issues, cybersecurity threats or disputes over intellectual property rights.

Further, the regulatory environment governing AI is also evolving, and future legislation or agency rulemaking may impose new compliance obligations or restrict certain AI applications, increasing costs to comply with such requirements and failure to do so could result in regulatory enforcement, penalties or reputational harm.

While AI technologies offer the potential to enhance operational efficiency, accelerate growth and lower costs, these benefits may not be realized and the use of and reliance on AI may present certain risks, both of which could materially adversely affect NEE’s and FPL’s business, financial condition, results of operations and prospects.

lower returns, and could result in certain assets becoming impaired, which could materially adversely affect NEE's business, financial condition, results of operations and prospects.

and other commodities, which could materially adversely affect NEE's and FPL's business, financial condition, results of operations and prospects.

The development of clean energy projects at acceptable prices has not historically been burdened by actions taken by the U.S. government.

supportive of clean energy project development, generally to be in a state of transition for the foreseeable future.

Additionally, any actual or

in, and is expected to continue to result in, increased costs.

As a result, changes in the underlying assumptions or use of

The inability of NEE's subsidiaries, including, without limitation, NEECH and its subsidiaries, to access the capital

XPLR may not be able to access sources of capital on commercially reasonable terms, which would have a material adverse effect on its ability to consummate future acquisitions and on the value of NEE’s limited partner interest in XPLR OpCo.

Through an indirect wholly owned subsidiary, NEE owns a limited partner interest in XPLR OpCo.

XPLR's inability to access capital on commercially reasonable terms when acquisitions, other growth opportunities or capital needs arise could have a material adverse effect on XPLR's ability to deliver its cash distributions to its common unitholders in the future, including NEE, and on the value of NEE’s limited partnership interest in XPLR OpCo.

In addition, XPLR's issuance of additional common units or other securities in connection with acquisitions or the conversion of outstanding securities convertible into XPLR common units could cause significant common unitholder dilution and reduce future cash distributions, if any, to its common unitholders, including NEE.

NEE’s operating performance is driven primarily by the operations of its two principal businesses, FPL, which serves more than six million customer accounts in Florida and is [removed: one of] the largest electric [removed: utilities] [added: utility] in the U.S., and NEER, which together with affiliated entities is [added: one of] the [removed: world's] largest [removed: generator of renewable] energy [removed: from] [added: infrastructure developers in] the [removed: wind and sun based on 2024 MWh produced on a] [added: U.S. The table below presents] net [removed: generation basis, as well as a world leader in battery storage capacity.][added: income (loss) attributable to NEE and earnings (loss) per share attributable to NEE, assuming dilution, by reportable segment, FPL and NEER.]

| | | | [removed: 2024] [added: 2025] | | | | | | [removed: 2023] [added: 2024] | | | | | | [removed: 2022] [added: 2023] | | | | | | [removed: 2024] [added: 2025] | | | | | | [removed: 2023] [added: 2024] | | | | | | [removed: 2022] [added: 2023] | | |

| FPL | | | $ | [removed: 4,543] [added: 5,012] | | | | | $ | [removed: 4,552] [added: 4,543] | | | | | $ | [removed: 3,701] [added: 4,552] | | | | | $ | [removed: 2.21] [added: 2.42] | | | | | $ | [removed: 2.24] [added: 2.21] | | | | | $ | [removed: 1.87] [added: 2.24] | |

| NEER(a) | | | [removed: 2,299] [added: 2,975] | | | | | | [removed: 3,558] [added: 2,299] | | | | | | [removed: 285] [added: 3,558] | | | | | | [removed: 1.12] [added: 1.44] | | | | | | [removed: 1.75] [added: 1.12] | | | | | | [removed: 0.14] [added: 1.75] | | |

| Corporate and Other | | | [removed: 104] [added: (1,152)] | | | | | | [removed: (800)] [added: 104] | | | | | | [removed: 161] [added: (800)] | | | | | | [removed: 0.04] [added: (0.56)] | | | | | | [removed: (0.39)] [added: 0.04] | | | | | | [removed: 0.09] [added: (0.39)] | | |

| NEE | | | $ | [removed: 6,946] [added: 6,835] | | | | | $ | [removed: 7,310] [added: 6,946] | | | | | $ | [removed: 4,147] [added: 7,310] | | | | | $ | [removed: 3.37] [added: 3.30] | | | | | $ | [removed: 3.60] [added: 3.37] | | | | | $ | [removed: 2.10] [added: 3.60] | |

For the five years ended December 31, [removed: 2024,] [added: 2025,] NEE delivered a total shareholder return of approximately [removed: 33.2%,] [added: 18.2%,] compared to the S&P 500’s [removed: 97.0%] [added: 96.2%] return, the S&P 500 Utilities' [removed: 37.7%] [added: 59.1%] return and the Dow Jones U.S. Electricity's [removed: 40.0%] [added: 64.8%] return.

[removed: ][added: ]

| | | | [removed: 2024] [added: 2025] | | | | | | [removed: 2023] [added: 2024] | | | | | | | | | [removed: 2022] [added: 2023] | | | | | |

| Net gains (losses) associated with non-qualifying hedge activity(a) | | | $ | [removed: 666] [added: (272)] | | | | | $ | [removed: 1,497] [added: 666] | | | | | | | | $ | [removed: (696)] [added: 1,497] | | | | |

| Differential membership interests-related – NEER | | | $ | [removed: (5)] [added: —] | | | | | $ | [removed: (49)] [added: (5)] | | | | | | | | $ | [removed: (87)] [added: (49)] | | | | |

| XPLR investment gains, net – NEER(b) | | | $ | [removed: (852)] [added: (656)] | | | | | $ | [removed: (963)] [added: (852)] | | | | | | | | $ | [removed: 186] [added: (963)] | | | | |

| Gain on disposal of a business(c) | | | $ | — | | | | | $ | [removed: 306] [added: —] | | | | | | | | $ | [removed: —] [added: 306] | | | | |

| Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds and OTTI, net – NEER | | | $ | [removed: 74] [added: 80] | | | | | $ | [removed: 116] [added: 74] | | | | | | | | $ | [removed: (324)] [added: 116] | | | | |

| Impairment charges related to investment in Mountain Valley Pipeline – [removed: NEER(d)] [added: NEER] | | | $ | — | | | | | $ | [removed: (38)] [added: —] | | | | | | | | $ | [removed: (674)] [added: (38)] | | | | |

(a)For [removed: 2024, 2023] [added: 2025, 2024] and [removed: 2022,] [added: 2023,] approximately [removed: $36] [added: $28] million of [removed: losses, $1,729] [added: gains, $36] million of [removed: gains] [added: losses] and [removed: $1,257] [added: $1,729] million of [removed: losses,] [added: gains,] respectively, are included in NEER's net income; the [added: remaining] balance is included in Corporate and Other.

(b)See Note 4 – Nonrecurring Fair Value Measurements for a discussion of impairment charges related to the investment in XPLR in [added: 2025,] 2024 and 2023.

(c)For 2023, approximately $300 million of gains are included in FPL's net income; the [added: remaining] balance is included in NEER.

See Note 1 – Disposal of [removed: Businesses/Assets] [added: Businesses] for a discussion of the sale of FPL's ownership interest in its Florida City Gas [removed: business (FCG).][added: business.]

Net income attributable to NEE for [removed: 2024] [added: 2025] was lower than [removed: 2023] [added: 2024] by [removed: $364] [added: $111] million, or [removed: $0.23] [added: $0.07] per share, assuming dilution, due to lower results at [removed: NEER] [added: Corporate] and [removed: FPL,] [added: Other,] partly offset by higher results at [removed: Corporate] [added: FPL] and [removed: Other.][added: NEER.]

FPL's net income [removed: decreased by $9 million] [added: increased] in [removed: 2024] [added: 2025] primarily driven by [removed: the absence of the gain on sale of FPL's ownership interest in the FCG business in 2023 and a lower earned regulatory ROE in 2024, partly offset by] continued investments in plant in service and other [removed: property.][added: property and a higher earned regulatory ROE in 2025.]

In [removed: 2024,] [added: 2025,] NEER added approximately [removed: 1,365] [added: 1,604] MW of new wind generating capacity, [removed: 2,507] [added: 2,859] MW of solar generating capacity and [removed: 755] [added: 1,799] MW of battery storage capacity and increased its backlog of contracted [removed: renewable] development projects.

Net income attributable to NEE for [removed: 2024] [added: 2025] was [removed: $6.95] [added: $6.84] billion compared to [removed: $7.31] [added: $6.95] billion in [removed: 2023.][added: 2024.]

In [removed: 2024,] [added: 2025,] net income attributable to NEE decreased primarily due to lower results at [removed: NEER] [added: Corporate] and [removed: FPL,] [added: Other,] partly offset by higher results at [removed: Corporate] [added: FPL] and [removed: Other.][added: NEER.]

The comparison of the results of operations for the years ended December 31, [removed: 2023] [added: 2024] and [removed: 2022] [added: 2023] are included in Management's Discussion in NEE's and FPL's Annual Report on Form 10-K for the year ended December 31, [removed: 2023.][added: 2024.]

NEE's effective income tax rate for [removed: 2024] [added: 2025] and [removed: 2023] [added: 2024] was approximately [removed: 6%] [added: (18)%] and [removed: 14%,] [added: 6%,] respectively.

The rates for both years reflect the [added: composition of pretax income in 2025 and 2024 as well as the] impact of [removed: renewable] [added: clean] energy tax credits.

FPL’s net income for [removed: 2024] [added: 2025] and [removed: 2023] [added: 2024] was [removed: $4,543] [added: $5,012] million and [removed: $4,552] [added: $4,543] million, respectively, representing [removed: a decrease] [added: an increase] of [removed: $9] [added: $469] million.

The [removed: decrease] [added: increase] was primarily driven by [removed: the absence of the gain on sale of FPL's ownership interest in the FCG business in 2023 and a lower earned regulatory ROE in 2024, partly offset by] higher earnings from investments in plant in service and other property.

Such investments grew FPL's average rate base by approximately [removed: $6.1] [added: $5.5] billion in [removed: 2024] [added: 2025] and reflect, among other things, solar generation additions and ongoing transmission and distribution additions.

[removed: In December 2024, the FPSC approved FPL's request to begin] [added: During 2025, FPL completed] a [added: twelve-month interim storm restoration] surcharge [removed: to recover] [added: that began in January 2025 for] eligible storm [added: restoration] costs and [removed: replenish] the [added: replenishment of the] storm reserve [removed: totaling] [added: of] approximately $1.2 [removed: billion for twelve months beginning in January 2025,] [added: billion,] related to Hurricanes Debby, Helene and Milton which impacted FPL's service area in 2024.

The use of reserve amortization [removed: is] [added: was] permitted by the 2021 rate agreement.

In order to earn a targeted regulatory ROE, subject to limitations associated with the 2021 rate agreement, reserve amortization [removed: is] [added: was] calculated using a trailing thirteen-month average of retail rate base and capital structure in conjunction with the trailing twelve months regulatory retail base net operating income, which primarily includes the retail base portion of base and other revenues, net of O&M, depreciation and amortization, interest and tax expenses.

In certain periods, reserve amortization [removed: is] [added: was] reversed so as not to exceed the targeted regulatory ROE.

The drivers of FPL's net income not reflected in the reserve amortization calculation typically [removed: include] [added: included] wholesale and transmission service revenues and expenses, cost recovery clause revenues and expenses, AFUDC – equity and revenue and costs not recoverable from retail customers.

In [removed: 2024] [added: 2025] and [removed: 2023,] [added: 2024,] FPL recorded reserve amortization of approximately [removed: $328] [added: $593] million and [removed: $227] [added: $328] million, respectively.

FPL's earned regulatory ROE for [removed: 2024] [added: 2025] and [removed: 2023] [added: 2024] was approximately [removed: 11.40%] [added: 11.70%] and [removed: 11.80%,] [added: 11.40%,] respectively.

See Note [removed: 1 – Rate Regulation.][added: 4.]

During [removed: 2024,] [added: 2025,] operating revenues [removed: decreased $1,346] [added: increased $1,243] million primarily [removed: related] [added: due] to [removed: lower] [added: higher] storm cost [removed: recovery revenues] [added: recovery, retail base] and [removed: lower fuel] [added: storm protection plan] cost recovery revenues, partly offset by [removed: an increase in retail base] [added: lower fuel cost recovery] revenues.

FPL’s retail base revenues for [removed: 2024] [added: 2025] and [removed: 2023] [added: 2024] reflect the 2021 rate agreement.

2025 Summary

NEER's results increased in 2025 primarily reflecting higher earnings from new investments, partly offset by higher financing costs.

Corporate and Other's results in 2025 decreased primarily related to higher interest expense due to unfavorable non-qualifying hedge activity compared to 2024 as well as higher average debt balances.

A number of legislative, executive and administrative activities occurred in 2025 that affect NEE and FPL including 1) the enactment of the OBBBA which, among other things, modified tax legislation affecting clean energy tax credits, 2) the issuance of a number of federal executive orders and presidential actions, 3) the imposition of tariffs on a variety of imports and 4) the issuance of guidance by various federal agencies.

A number of similar activities remain pending or are in various phases of implementation, such as certain Treasury Department rulemaking authorized by the OBBBA, trade investigations that may lead to additional tariffs or place limitations on imports of certain materials, ordered reviews of, or process or policy changes with respect to, federal permitting and approvals for wind and solar projects and proposals by regional transmission operators regarding the process for interconnecting new generation projects to certain regional transmission grids that have been approved by FERC.

There has been no material impact on NEE's or FPL's operations or financial performance as a result of these developments and NEE believes that its current pipeline of wind and solar facilities to be placed in service through 2030 will qualify for clean energy tax credits.

NEE will assess any further developments for potential impacts in future periods.

The increase was also due to a higher earned regulatory ROE in 2025.

The amount collected is subject to refund based on an FPSC prudence review.

In January 2026, the FPSC issued a final order approving a stipulation and settlement agreement between FPL and several intervenors in FPL's 2025 base rate proceeding.

In February 2026, certain intervenors filed a joint motion for reconsideration and a joint request for oral argument challenging the FPSC's final order.

See Note 1 – Rate Regulation – Base Rates Effective January 2026 through December 2029.

Fuel, purchased power and interchange expense decreased $310 million in 2025 primarily related to lower amortization of deferred fuel costs, partly offset by higher fuel prices as compared to the prior year.

| | | | 2025 | | | | | | 2024 | | | | | | | | |

FPL’s income taxes decreased $251 million during 2025 primarily related to higher clean energy tax credits as compared to the prior year.

NEER also owns, develops, constructs and operates regulated electric and gas transmission assets.

- net increases in revenues of $300 million from the customer supply business.

In 2025, the change in gains on disposal of businesses/assets – net is the result of lower disposal gains in the current year as compared to the prior year.

*Interest Expense*

NEER’s interest expense for 2025 increased $569 million primarily reflecting approximately $351 million of unfavorable impacts related to changes in the fair value of interest rate derivative instruments as well as higher average debt balances driven by growth in the business.

*Income Taxes*

*Net Loss Attributable to Noncontrolling Interests*

The change in net loss attributable to noncontrolling interests primarily reflects an increase in additional differential membership interests.

See Note 1 – Noncontrolling Interests.

Symmetry Acquisition

On January 9, 2026, a wholly owned subsidiary of NextEra Energy Resources acquired a commercial and industrial natural gas business.

See Note 6 – Symmetry Acquisition.

| Other clean energy | | | 3,295 | | | | | | 1,686 | | | | | | 2,313 | | |

| Regulated electric and gas transmission | | | 755 | | | | | | 1,177 | | | | | | 841 | | |

| Syndicated revolving credit facilities(a)(b) | | | $ | 3,346 | | | | | $ | 10,519 | | | | | $ | 13,865 | | | | | 2028 – 2030 | | | | | | 2026 – 2030 | | |

| | | | 3,343 | | | | | | 10,039 | | | | | | 13,382 | | | | | | | | | | | | | | |

| | | | 1,080 | | | | | | 3,550 | | | | | | 4,630 | | | | | | | | | | | | | | |

| | | | — | | | | | | 515 | | | | | | 515 | | | | | | | | | | | | | | |

| Subtotal | | | 4,423 | | | | | | 14,104 | | | | | | 18,527 | | | | | | | | | | | | | | |

| Net available liquidity | | | $ | 3,335 | | | | | $ | 15,319 | | | | | $ | 18,654 | | | | | | | | | | | | | |

(b) In February 2026, FPL and NEECH updated the capacity and extended the maturity date for a portion of their syndicated revolving credit facilities resulting in total capacity under their syndicated revolving credit facilities of $4,500 million and $10,500 million, respectively, with maturity dates ranging from 2028 – 2031 and 2027 – 2031, respectively.

Letters of credit up to $1,450 million ($450 million for FPL and $1,000 million for NEECH) may be funded by the syndicated revolving credit facilities.

(d) In January 2026, NEECH borrowed a total of $850 million under bilateral revolving credit facilities.

In January 2026, NEECH increased the capacity of the letter of credit facilities to $4,928 million.

On December 31, 2025, NEE established an at-the-market equity issuance program (ATM program) pursuant to which NEE may offer and sell, from time to time, NEE common stock having an aggregate gross sales price of up to $4 billion.

The table below presents net income (loss) attributable to NEE and earnings (loss) per share attributable to NEE, assuming dilution, by reportable segment, FPL and NEER.

(d)See Note 4 – Nonrecurring Fair Value Measurements for a discussion of the impairment charge in 2022 related to the investment in Mountain Valley Pipeline, LLC (Mountain Valley Pipeline).

2024 Summary

NEER's results decreased in 2024 primarily driven by unfavorable non-qualifying hedge activity compared to 2023, partly offset by higher earnings from new investments.

Corporate and Other's results in 2024 increased primarily due to favorable non-qualifying hedge activity.

See Item 1.

In March 2024, the FPSC issued a supplemental final order regarding FPL's 2021 rate agreement.

An April 2024 appeal of the order filed with the Florida Supreme Court by certain intervenors remains pending.

In December 2024, FPL filed a formal notification with the FPSC indicating its intent to initiate a base rate proceeding.

Business – FPL – FPL Regulation – FPL Electric Rate Regulation – Base Rates for additional information on the details of FPL's formal notification.

Fuel, purchased power and interchange expense decreased $573 million in 2024 primarily related to lower fuel and energy prices.

*Gains on Disposal of Businesses/Assets – net*

In 2023, gains on disposal of businesses/assets – net primarily relate to the sale of ownership interests in the FCG business.

| Impairment charges related to investment in Mountain Valley Pipeline(c) | | | 38 | | |

partly offset by,

a 2023 impairment charge of $1.2 billion ($0.9 billion after tax) related to the investment in XPLR (see Note 4 – Nonrecurring Fair Value Measurements).

| Other clean energy | | | 2,213 | | | | | | 2,837 | | | | | | 1,052 | | |

| Rate-regulated transmission | | | 650 | | | | | | 317 | | | | | | 431 | | |

| Syndicated revolving credit facilities(a) | | | $ | 3,420 | | | | | $ | 10,667 | | | | | $ | 14,087 | | | | | 2025 – 2029 | | | | | | 2025 – 2029 | | |

| | | | 3,416 | | | | | | 9,959 | | | | | | 13,375 | | | | | | | | | | | | | | |

| | | | 1,080 | | | | | | 3,250 | | | | | | 4,330 | | | | | | | | | | | | | | |

| | | | — | | | | | | 924 | | | | | | 924 | | | | | | | | | | | | | | |

| Subtotal | | | 4,496 | | | | | | 14,133 | | | | | | 18,629 | | | | | | | | | | | | | | |

| Net available liquidity | | | $ | 3,098 | | | | | $ | 14,877 | | | | | $ | 17,975 | | | | | | | | | | | | | |

As of December 31, 2024, approximately $925 million of FPL's and $2,600 million of NEECH's bilateral revolving credit facilities expire over the next 12 months.

As of December 31, 2024, approximately $1,180 million of the letter of credit facilities expire over the next 12 months.

| Operating revenues | | | | | | $ | (2) | | | | | $ | 7,846 | | | | | $ | 24,753 | |

| Operating income (loss) | | | | | | $ | (331) | | | | | $ | 1,254 | | | | | $ | 7,479 | |

| Net income (loss) | | | | | | $ | (12) | | | | | $ | 1,156 | | | | | $ | 5,698 | |

| Total current assets | | | | | | $ | 557 | | | | | $ | 7,166 | | | | | $ | 11,951 | |

| Total noncurrent assets | | | | | | $ | 2,625 | | | | | $ | 85,583 | | | | | $ | 178,193 | |

| Total current liabilities | | | | | | $ | 6,563 | | | | | $ | 18,080 | | | | | $ | 25,355 | |

| Total noncurrent liabilities | | | | | | $ | 33,793 | | | | | $ | 58,074 | | | | | $ | 103,928 | |

| Noncontrolling interests | | | | | | $ | — | | | | | $ | 10,359 | | | | | $ | 10,359 | |

derivative agreements.

| Fair value of contracts outstanding at December 31, 2022 | | | $ | 1,177 | | | | | $ | (3,921) | | | | | $ | 16 | | | | | | | | | | | $ | (2,728) | |

| Total | | | 354 | | | | | | 295 | | | | | | 194 | | | | | | 122 | | | | | | 79 | | | | | | 300 | | | | | | 1,344 | | |

| Significant other observable inputs | | | (363) | | | | | | (313) | | | | | | (236) | | | | | | (118) | | | | | | (86) | | | | | | (169) | | | | | | (1,285) | | |

| Total | | | (457) | | | | | | (396) | | | | | | (299) | | | | | | (121) | | | | | | (70) | | | | | | (181) | | | | | | (1,524) | | |

| Total sources of fair value | | | $ | (72) | | | | | $ | (95) | | | | | $ | (104) | | | | | $ | 1 | | | | | $ | 9 | | | | | $ | 119 | | | | | $ | (142) | |

NEE is one of the largest electric power and energy infrastructure companies in North [removed: America and a leader in the renewable energy industry.][added: America.]

[removed: At] [added: As of] December 31, [removed: 2024,] [added: 2025,] NEE had approximately [removed: 72] [added: 80] gigawatts of net generation and storage capacity from a diverse portfolio of assets, primarily including natural gas, wind, solar and nuclear generation facilities and battery storage facilities.

FPL is the largest electric utility in [removed: the state of] Florida and [removed: one of] the [removed: largest electric utilities in the] U.S. FPL’s strategic focus is centered on investing in generation, [added: storage,] transmission and distribution facilities to deliver on its value proposition of keeping customer bills [removed: as] low [removed: as possible] and delivering high reliability, outstanding customer service and energy from diverse generation sources for the benefit of its more than six million customer accounts.

[added: NEER is one of the largest energy infrastructure developers in the U.S.] NEER’s strategic focus is centered on the development, construction and operation of long-term contracted [removed: assets throughout the U.S. and Canada, primarily renewable] generation facilities, [added: including renewables, nuclear] and [removed: electric transmission facilities,] [added: natural gas,] as well as [removed: providing other energy solutions to its customers.][added: battery storage facilities.]

[removed: As described in more detail in the following sections,] NEE seeks to create value in its two principal businesses by meeting [removed: its customers'] [added: customer] needs more economically and [removed: more] reliably than its competitors.

NEE and its subsidiaries, with employees totaling approximately [removed: 16,800] [added: 17,400] as of December 31, [removed: 2024,] [added: 2025,] continue to develop and implement enterprise-wide [removed: initiatives] [added: initiatives, including deploying advanced technologies such as artificial intelligence and proprietary tools,] focused on improving [removed: productivity, process effectiveness] [added: processes, lowering costs] and [removed: quality.][added: driving growth.]

][added: Final.jpg](https://www.sec.gov/Archives/edgar/data/753308/000075330826000015/nee-20251231_g3.jpg)]

FPL is a rate-regulated electric utility engaged primarily in the generation, [added: storage,] transmission, distribution and sale of electric energy in Florida.

FPL is the largest electric utility in [removed: the state of] Florida and [removed: one of] the [removed: largest electric utilities in the] U.S. [removed: At] [added: As of] December 31, [removed: 2024,] [added: 2025,] FPL had [removed: 35,052] [added: 35,963] MW of net generating capacity, approximately [removed: 91,000] [added: 93,000] circuit miles of transmission and distribution lines and [removed: 921] [added: 932] substations.

FPL provides [removed: service to its] electric [removed: customers] [added: service] through an integrated transmission and distribution system that links its generation facilities to its customers.

The following map shows FPL's service areas and plant locations as of February [removed: 14, 2025,] [added: 13, 2026,] which cover most of the east and lower west coasts of Florida and are in ten counties throughout northwest Florida (see FPL Sources of Generation below).

[removed: ][added: ]

| [removed: ] [added: ] | | | [removed: ] [added: ] | | |

FPL seeks to maintain [removed: rates that are as] low [removed: as possible] [added: rates] for its customers, while continuing to deliver reliable service.

Since rates are largely cost-based, maintaining low rates requires a strategy focused on developing and maintaining a low-cost position, including the implementation of ideas generated from cost savings [removed: initiatives.][added: initiatives and the use of advanced technologies such as artificial intelligence.]

[removed: At] [added: As of] December 31, [removed: 2024,] [added: 2025,] FPL held 226 franchise agreements with various municipalities and counties in Florida with varying expiration dates through [removed: 2054.][added: 2055.]

[removed: At] [added: As of] December 31, [removed: 2024,] [added: 2025,] FPL also provided service to customers in 10 other municipalities and to 27 unincorporated areas within its service area without franchise [removed: agreements] [added: agreements,] pursuant to the general obligation to serve as a public utility.

Because any customer may elect to provide [removed: their] [added: its] own electric services, FPL effectively must compete for an individual customer's business.

Changing technology (particularly [added: the] increasing efficiency of solar power generation), tax incentives, economic conditions, regulatory [removed: changes, increasing cost-competitiveness of rooftop solar and battery storage] [added: changes] and other factors could alter the favorable relative cost position that FPL currently enjoys; however, FPL seeks as a matter of strategy to ensure that it delivers superior [removed: value,] [added: value] in the form of [removed: customer bills as] low [removed: as possible,] [added: customer bills,] high reliability, outstanding customer service and energy from diverse generation sources.

In [removed: 2024, 2023] [added: 2025, 2024] and [removed: 2022,] [added: 2023, annual] operating revenues from wholesale and industrial electric customers combined represented approximately [removed: 5%,] 5% [removed: and 7%, respectively,] of FPL's total operating revenues.

[removed: At] [added: As of] December 31, [removed: 2024,] [added: 2025,] FPL's resources for serving load consisted of approximately [removed: 35,296] [added: 36,616] MW of net generating capacity, of which [removed: 35,052] [added: 36,372] MW were from FPL-owned facilities and 244 MW were available through PPAs.

FPL owned and operated 44 units with generating capacity of [removed: 24,297] [added: 24,314] MW that primarily use natural gas and [removed: 96] [added: 108] solar generation facilities with generating capacity totaling [removed: 7,038] [added: 7,932] MW.

In addition, FPL owned, or had undivided interests in, and operated four nuclear units with net generating capacity totaling 3,502 MW (see Nuclear Operations below) and had a joint ownership interest in a coal unit located in [removed: Georgia] [added: Georgia,] which is operated by the joint [removed: owner] [added: owner,] with a net generating capacity of 215 MW (see Note 7 – Jointly-Owned Electric Plants).

[removed: At] [added: As of] December 31, [removed: 2024,] [added: 2025,] FPL had [removed: 469] [added: 991] MW of battery storage capacity that delivers energy to the transmission system.

[removed: In 2024 and in January 2025, FPL continued to add new solar generation with cost recovery through base rates, through a Solar Base Rate Adjustment (SoBRA) and through] [added: - Expansion of] SolarTogether® (a voluntary community solar program that gives FPL electric customers an opportunity to participate directly in the expansion of solar energy where participants pay a fixed monthly subscription charge and receive credits on their related monthly customer [removed: bill).][added: bill) by constructing an additional 1,788 MW of solar generation from 2022 through 2025, such that the total capacity of SolarTogether® is 3,278 MW.]

FPL relies upon a mix of fuel sources for its generation facilities, the ability of some of its generation facilities to operate on both natural gas and low sulfur diesel, [added: the use of battery storage at certain generation facilities] and on purchased power to maintain the flexibility to achieve a more economical fuel mix in order to respond to market and industry developments.

[removed: ][added: ]

*Significant Fuel and Transportation Contracts.* [removed: At] [added: As of] December 31, [removed: 2024,] [added: 2025,] FPL had the following significant fuel and transportation contracts in place:

[removed: At] [added: As of] December 31, [removed: 2024,] [added: 2025,] FPL owned, or had undivided interests in, and operated the four nuclear units in Florida discussed below.

| St. Lucie Unit [removed: No.] 1 | | | | | | 981 | | | | | | [removed: September 2025] [added: April 2027] | | | | | | 2036(a) | | |

| St. Lucie Unit [removed: No.] 2 | | | | | | 840(b) | | | | | | April 2026 | | | | | | 2043(a) | | |

| Turkey Point Unit [removed: No.] 3 | | | | | | 837 | | | | | | February [removed: 2026] [added: 2028] | | | | | | 2052(c) | | |

| Turkey Point Unit [removed: No.] 4 | | | | | | 844 | | | | | | [removed: March 2025] [added: February 2027] | | | | | | 2053(c) | | |

If the license renewals are approved by the NRC, FPL's plans provide for St. Lucie Unit [removed: No.] 1 to be shut down in 2056 with decommissioning activities to be integrated with the dismantlement of St. Lucie Unit [removed: No.] 2 commencing in 2063.

FPL's plans provide for the dismantlement of Turkey Point Units [removed: Nos.] 3 and 4 with decommissioning activities commencing in 2052 and 2053, respectively.

[removed: EMT] [added: FPL sells excess fuel and electricity when available and] also uses derivative instruments (primarily swaps, options and forwards) to manage the physical and financial risks inherent in the purchase and sale of fuel and electricity.

[removed: Substantially all of the] [added: The] results of EMT's activities are [added: primarily] passed through to customers in the fuel or capacity [removed: clauses.][added: clauses, and beginning in 2026, certain amounts will be recognized in base rates.]

- the FPSC, which has jurisdiction over retail rates, service [removed: area,] [added: areas,] issuances of securities, and planning, siting and construction of facilities, among other things;

- the EPA, which has the responsibility to maintain and enforce national standards under a variety of environmental laws, [added: and] in some cases [removed: delegating] [added: delegates] authority to state agencies.

[removed: At the time] [added: When] base rates are established, the allowed rate of return on rate base approximates the FPSC's determination of the utility's estimated weighted-average cost of capital, which includes its costs for outstanding debt and an allowed return on common equity.

NEER also builds and owns regulated electric and gas transmission assets, is a leading gas and power supplier, and delivers integrated energy and technology solutions to utilities and businesses across the U.S.

FPL also seeks to serve large-load customers, such as data centers, through the tariff established in the 2025 rate agreement (as defined in FPL Regulation – FPL Electric Rate Regulation – Base Rates – Base Rates Effective January 2026 through December 2029 below).

In 2025, FPL added new solar generation with capacity totaling 894 MW and battery storage capacity totaling 522 MW.

In January 2026, FPL placed 596 MW of solar generating capacity in service and expects to place an additional 298 MW of solar capacity and approximately 1,420 MW of additional battery storage capacity in service over the remainder of 2026.

In 2025, FPL received FERC approval for the acquisition of a 660 MW gas-fired peaking facility with dual fuel capability.

The acquisition is expected to close in 2027.

| certain solar facilities have approximately 582 MW of co-located batteries | | | | | |

FPL's Energy Marketing & Trading division (EMT) supports the operation of FPL's generation fleet by procuring and managing fuel supplies and related energy commodities, including renewable energy credits (RECs).

EMT sources natural gas, oil and low sulfur diesel from a diverse set of suppliers and geographic markets.

*Base Rates Effective January 2026 through December 2029* – In January 2026, the FPSC issued a final order approving a stipulation and settlement agreement between FPL and several intervenors in FPL's base rate proceeding (2025 rate agreement).

Key elements of the 2025 rate agreement, which became effective in January 2026 and continues through at least December 2029, include, among other things, the following:

◦$945 million beginning January 1, 2026; and

◦$705 million beginning January 1, 2027.

- In addition, FPL will receive, subject to conditions specified in the 2025 rate agreement, base rate increases associated with solar generation projects that enter service in 2027, 2028 and 2029 and battery storage projects that enter service in 2028 and 2029 through a Solar and Battery Base Rate Adjustment (SoBRA) mechanism.

FPL is required to demonstrate either a specified economic or resource/reliability need for these projects.

- FPL's authorized regulatory capital structure reflects a 59.6% equity ratio, consistent with prior base rate cases.

- FPL is authorized to implement a rate stabilization mechanism (RSM) over the term of the 2025 rate agreement up to approximately $1.5 billion, after tax.

The RSM reserve includes certain deferred tax liabilities, the remaining balance from FPL’s existing reserve amortization mechanism as of January 1, 2026 and investment tax credit amortization for battery storage projects placed in service in 2025.

Subject to certain conditions, FPL could amortize the RSM reserve over the term of the 2025 rate agreement, provided that in any 12-month period of the 2025 rate agreement FPL would be required to amortize at least enough RSM reserve amount to maintain its minimum authorized regulatory ROE and also could not amortize any RSM reserve amount that would result in an earned regulatory ROE in excess of its maximum authorized regulatory ROE.

- FPL will implement tariffs for large-load customers with new or incremental load of 50 MW or greater and with a load factor of at least 85%.

In February 2026, the Office of Public Counsel, Floridians Against Increased Rates, Inc. and, as a group, Florida Rising, Inc., Environmental Confederation of Southwest Florida, Inc. and League of United Latin American Citizens of Florida filed a joint motion for reconsideration and a joint request for oral argument challenging the FPSC's final order approving the 2025 rate agreement.

FPL has opposed the motion and the request for oral argument.

- New retail base rates and charges which resulted in the following increases in annualized retail base revenues:

- Authorized regulatory ROE of 10.60%, with a range of 9.70% to 11.70%, which was increased in 2022 to be 10.80%, with a range of 9.80% to 11.80%, based on a provision associated with an increase in the U.S. Treasury rate.

- An interim storm cost recovery mechanism for storm restoration costs.

See Note 1 – Storm Funds, Storm Reserves and Storm Cost Recovery.

NEER, one of the largest energy infrastructure developers in the U.S., is comprised of NEE's competitive energy and regulated transmission businesses.

NEER also provides gas and power solutions through its customer supply business.

NEER's strategy focuses on providing cost-effective differentiated solutions to its customers, including emerging large-load opportunities, and on lowering costs and driving growth, including through the use of advanced technologies, such as artificial intelligence and proprietary tools.

In addition, as of December 31, 2025, the NEER segment also has ownership interests in regulated natural gas pipelines primarily located in the U.S. NEER's regulated gas transmission business has approximately 3.8 Bcf per day gross pipeline capacity and consists of equity method investments totaling approximately $1.5 billion as of December 31, 2025.

They are also used to offer customized power and fuel and related risk management services to wholesale customers, including services provided under natural gas asset management agreements, as well as to hedge the production from NEER's generation assets that is not sold under long-term power supply agreements.

OPERATIONS

Energy Assets

In response to potential customer needs, NEER evaluates opportunities for expanding its portfolio of generation assets, including adding new facilities and repowering its current facilities.

*◦*includes the impact of approximately 1,604 MW of new generating capacity added in the U.S. in 2025, as well as ownership interests in assets sold to third parties totaling approximately 165 MW and includes repowering activity related to approximately 132 MW of wind generating capacity.

In December 2025, NEER submitted an application to the NRC to reinstate the operating license for Duane Arnold, with an estimated commercial operation date in 2029.

Additionally, NEER entered into a 25-year PPA for the full capacity of Duane Arnold, and agreements to increase its ownership interest to 100% of the plant, subject to regulatory approvals.

Natural Gas and Other Energy Assets

As of December 31, 2025, NEER’s portfolio included natural gas generation facilities with a net generating capacity of approximately 1,584 MW.

Battery Storage

NEER is the world's largest generator of renewable energy from the wind and sun, as well as a world leader in battery storage capacity.

FPL added new solar generation with capacity totaling 2,235 MW in 2024 and 894 MW in January 2025 (see FPL Regulation – FPL Electric Rate Regulation – Base Rates – Base Rates Effective January 2022 through December 2025 below).

See discussion of solar generation additions above.

License renewals are pending.

FPL's Energy Marketing & Trading division (EMT) buys and sells wholesale energy commodities, such as natural gas, low sulfur diesel, electricity and renewable energy credits (RECs) from certain FPL solar generation assets.

EMT procures natural gas and low sulfur diesel for FPL's use in power generation and sells excess natural gas, low sulfur diesel and electricity.

FPL's recovery through the SoBRA mechanism was limited to an installed cost cap of $1,250 per kW.

However, in the event the average 30-year U.S. Treasury rate was 2.49% or greater over a consecutive six-month period, FPL was authorized to increase the regulatory ROE to 10.80% with a range of 9.80% to 11.80%.

During August 2022, this provision was triggered and effective September 1, 2022, FPL's authorized regulatory ROE and ROE range were increased.

- FPL is authorized to expand SolarTogether® by constructing an additional 1,788 MW of solar generation from 2022 through 2025, such that the total capacity of SolarTogether® would be 3,278 MW.

The order affirmed the FPSC's prior approval of the 2021 rate agreement and is intended to further document, as requested by the Florida Supreme Court, how the evidence presented led to and supports the FPSC's decision to approve FPL's 2021 rate agreement.

An April 2024 appeal of the order filed with the Florida Supreme Court by certain intervenors remains pending.

*FPL 2025 Base Rate Proceeding* – On December 30, 2024, FPL filed a formal notification with the FPSC indicating its intent to initiate a base rate proceeding by submitting a four-year rate plan that would begin in January 2026 replacing the 2021 rate agreement.

The notification states that, based on preliminary estimates, FPL expects to request a general base revenue requirement increase of approximately $1.55 billion effective January 2026 and a subsequent increase of approximately $930 million effective January 2027.

The plan is also expected to request authority for a Solar and Battery Base Rate Adjustment mechanism to recover, subject to FPSC review, the revenue requirements associated with building and operating additional solar and battery storage projects in 2028 and 2029.

In addition, FPL expects to propose an allowed regulatory ROE midpoint of 11.90% and to incorporate the continued application of FPL's longstanding equity ratio approved in prior base rate cases.

FPL expects to file its formal request to initiate a base rate proceeding on or around February 28, 2025.

NEER is the world's largest generator of renewable energy from the wind and sun based on 2024 MWh produced on a net generation basis, as well as a world leader in battery storage based on 2024 MW of net generating capacity.

NEER produces the majority of its energy from clean and renewable sources as described more fully below.

During the fourth quarter of 2024, as a result of selling ownership interests in certain natural gas and oil shale formations and in certain natural gas pipeline facilities (see Note 1 – Disposal of Businesses/Assets), NEER reassessed and changed its reporting unit structure to no longer report gas infrastructure as a separate reporting unit.

CLEAN ENERGY AND OTHER OPERATIONS

Clean Energy

| | | |

| --- | --- | --- |

| *Primarily natural gas | | |

*◦*includes the impacts of approximately 2,507 MW of generating capacity added in the U.S. in 2024 and an ownership interest in assets sold to a third party totaling approximately 527 MW (see Note 1 – Disposal of Businesses/Assets).

(e) In 2020, NEER filed an application with the NRC to renew both Point Beach operating licenses for an additional 20 years.

NEER has a site-specific cost estimate and plan for decontamination and decommissioning on file with the NRC.

All spent nuclear fuel housed onsite is in long-term dry storage until the DOE is able to take possession.

In January 2025, NEER submitted a licensing path and exemption request with the NRC to explore the potential to recommission Duane Arnold.

Other Clean Energy

In addition, NextEra Energy Resources has equity method investments in four natural gas pipelines located in the Southeast region of the U.S., which total approximately 1,052 miles of pipeline.

NextEra Energy Resources' net ownership interests represent noncontrolling interests ranging from approximately 33.3% to 85.0% in the pipelines and total net capacity of 1.67 Bcf per day.

Wind and solar generation facilities are eligible for 100% PTC or 30% ITC if such facilities start construction before the later of 2034 or the end of the calendar year following the year in which greenhouse gas emissions from U.S. electric generation are reduced by 75% from 2022 levels.

Energy storage projects and renewable natural gas facilities are eligible for a 10 percentage point increase in the ITC rate if the facilities satisfy certain tax credit enhancement requirements.

(a) Direct current

(d) Includes a 48-mile transmission line that went into service in January 2025.

that can sell power in competitive markets.

The U.S. government and certain states and regions, as well as the Government of Canada and its provinces, have taken and continue to take certain actions, such as proposing and finalizing regulations or setting targets or goals, regarding the regulation and reduction of greenhouse gas emissions and the increase of renewable energy generation.

| Michael H. Dunne | | | | | | 49 | | | | | | Treasurer of NEE Treasurer of FPL Assistant Secretary of NEE | | | | | | January 1, 2023 | | |

| [removed: ] [added: ] | | | | | | [removed: ] [added: ] | | |

For the fiscal year ended December 31, [removed: 2024][added: 2025]

Aggregate market value of the voting and non-voting common equity of NextEra Energy, Inc. held by non-affiliates at June [removed: 28, 2024] [added: 30, 2025] (based on the closing market price on the Composite Tape on June [removed: 28, 2024)] [added: 30, 2025)] was [removed: $145,437,269,170.][added: $142,860,484,569.]

There was no voting or non-voting common equity of Florida Power & Light Company held by non-affiliates at June [removed: 28, 2024.][added: 30, 2025.]

Number of shares of NextEra Energy, Inc. common stock, $0.01 par value, outstanding at January 31, [removed: 2025: 2,057,026,280][added: 2026: 2,083,521,964]

Number of shares of Florida Power & Light Company common stock, without par value, outstanding at January 31, [removed: 2025,] [added: 2026,] all of which were held, beneficially and of record, by NextEra Energy, Inc.: 1,000

Portions of NextEra Energy, Inc.'s Proxy Statement for the [removed: 2025] [added: 2026] Annual Meeting of Shareholders are incorporated by reference in Part III hereof.

| [removed: renewable] [added: clean] energy tax credits | | | production tax credits and investment tax credits collectively | | |

| XPLR OpCo | | | XPLR Infrastructure Operating Partners, LP (formerly known as NextEra Energy Operating Partners, [removed: LP)] [added: LP), a subsidiary of XPLR] | | |

NEE, FPL, NEECH, NextEra Energy Resources and NEET each has subsidiaries and affiliates with names that may include NextEra Energy, FPL, NextEra Energy Resources, NextEra Energy Transmission, NextEra, FPL Group, FPL [removed: Energy, FPLE] [added: Energy] and similar references.

| [Item 1A.](#i10450177354c45a485e190744fc15368_40) | | | [Risk Factors](#i10450177354c45a485e190744fc15368_40) | | | [removed: [21](#i10450177354c45a485e190744fc15368_40)] [added: [23](#i10450177354c45a485e190744fc15368_40)] | | |

| [Item 1B.](#i10450177354c45a485e190744fc15368_43) | | | [Unresolved Staff Comments](#i10450177354c45a485e190744fc15368_43) | | | [removed: [34](#i10450177354c45a485e190744fc15368_43)] [added: [36](#i10450177354c45a485e190744fc15368_43)] | | |

| [Item 1C.](#i10450177354c45a485e190744fc15368_2421) | | | [Cybersecurity](#i10450177354c45a485e190744fc15368_2421) | | | [removed: [34](#i10450177354c45a485e190744fc15368_2421)] [added: [36](#i10450177354c45a485e190744fc15368_2421)] | | |

| [Item 2.](#i10450177354c45a485e190744fc15368_46) | | | [Properties](#i10450177354c45a485e190744fc15368_46) | | | [removed: [35](#i10450177354c45a485e190744fc15368_46)] [added: [37](#i10450177354c45a485e190744fc15368_46)] | | |

| [Item 3.](#i10450177354c45a485e190744fc15368_49) | | | [Legal Proceedings](#i10450177354c45a485e190744fc15368_49) | | | [removed: [35](#i10450177354c45a485e190744fc15368_49)] [added: [38](#i10450177354c45a485e190744fc15368_49)] | | |

| [Item 4.](#i10450177354c45a485e190744fc15368_52) | | | [Mine Safety Disclosures](#i10450177354c45a485e190744fc15368_52) | | | [removed: [35](#i10450177354c45a485e190744fc15368_49)] [added: [38](#i10450177354c45a485e190744fc15368_49)] | | |

| [Item 5.](#i10450177354c45a485e190744fc15368_58) | | | [Market for Registrants' Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](#i10450177354c45a485e190744fc15368_58) | | | [removed: [35](#i10450177354c45a485e190744fc15368_58)] [added: [38](#i10450177354c45a485e190744fc15368_58)] | | |

| [Item 6.](#i10450177354c45a485e190744fc15368_61) | | | [R](#i10450177354c45a485e190744fc15368_61)[e](#i10450177354c45a485e190744fc15368_61)[served](#i10450177354c45a485e190744fc15368_61) | | | [removed: [36](#i10450177354c45a485e190744fc15368_61)] [added: [38](#i10450177354c45a485e190744fc15368_61)] | | |

| [Item 7.](#i10450177354c45a485e190744fc15368_67) | | | [Management's Discussion and Analysis of Financial Condition and Results of Operations](#i10450177354c45a485e190744fc15368_67) | | | [removed: [37](#i10450177354c45a485e190744fc15368_67)] [added: [39](#i10450177354c45a485e190744fc15368_67)] | | |

| [Item 7A.](#i10450177354c45a485e190744fc15368_109) | | | [Quantitative and Qualitative Disclosures About Market Risk](#i10450177354c45a485e190744fc15368_109) | | | [removed: [56](#i10450177354c45a485e190744fc15368_109)] [added: [59](#i10450177354c45a485e190744fc15368_109)] | | |

| [Item 8.](#i10450177354c45a485e190744fc15368_112) | | | [Financial Statements and Supplementary Data](#i10450177354c45a485e190744fc15368_112) | | | [removed: [57](#i10450177354c45a485e190744fc15368_112)] [added: [60](#i10450177354c45a485e190744fc15368_112)] | | |

| [Item 9.](#i10450177354c45a485e190744fc15368_241) | | | [Changes in and Disagreements With Accountants on Accounting and Financial Disclosure](#i10450177354c45a485e190744fc15368_241) | | | [removed: [114](#i10450177354c45a485e190744fc15368_241)] [added: [118](#i10450177354c45a485e190744fc15368_241)] | | |

| [Item 9A.](#i10450177354c45a485e190744fc15368_244) | | | [Controls and Procedures](#i10450177354c45a485e190744fc15368_244) | | | [removed: [114](#i10450177354c45a485e190744fc15368_244)] [added: [118](#i10450177354c45a485e190744fc15368_244)] | | |

| [Item 9B.](#i10450177354c45a485e190744fc15368_247) | | | [Other Information](#i10450177354c45a485e190744fc15368_247) | | | [removed: [114](#i10450177354c45a485e190744fc15368_247)] [added: [118](#i10450177354c45a485e190744fc15368_247)] | | |

| [Item 9C.](#i10450177354c45a485e190744fc15368_2280) | | | [Disclosure Regarding Foreign Jurisdictions that Prevent Inspections](#i10450177354c45a485e190744fc15368_2280) | | | [removed: [114](#i10450177354c45a485e190744fc15368_244)] [added: [118](#i10450177354c45a485e190744fc15368_244)] | | |

| [Item 10.](#i10450177354c45a485e190744fc15368_253) | | | [Directors, Executive Officers and Corporate Governance](#i10450177354c45a485e190744fc15368_253) | | | [removed: [115](#i10450177354c45a485e190744fc15368_253)] [added: [119](#i10450177354c45a485e190744fc15368_253)] | | |

| [Item 11.](#i10450177354c45a485e190744fc15368_256) | | | [Executive Compensation](#i10450177354c45a485e190744fc15368_256) | | | [removed: [115](#i10450177354c45a485e190744fc15368_256)] [added: [119](#i10450177354c45a485e190744fc15368_256)] | | |

| [Item 12.](#i10450177354c45a485e190744fc15368_259) | | | [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](#i10450177354c45a485e190744fc15368_259) | | | [removed: [115](#i10450177354c45a485e190744fc15368_259)] [added: [119](#i10450177354c45a485e190744fc15368_259)] | | |

| [Item 13.](#i10450177354c45a485e190744fc15368_262) | | | [Certain Relationships and Related Transactions, and Director Independence](#i10450177354c45a485e190744fc15368_262) | | | [removed: [115](#i10450177354c45a485e190744fc15368_262)] [added: [119](#i10450177354c45a485e190744fc15368_262)] | | |

| [Item 14.](#i10450177354c45a485e190744fc15368_265) | | | [Principal Account](#i10450177354c45a485e190744fc15368_265)[ant](#i10450177354c45a485e190744fc15368_265) [Fees and Services](#i10450177354c45a485e190744fc15368_265) | | | [removed: [116](#i10450177354c45a485e190744fc15368_265)] [added: [120](#i10450177354c45a485e190744fc15368_265)] | | |

| [Item 15.](#i10450177354c45a485e190744fc15368_271) | | | [Exhibits](#i10450177354c45a485e190744fc15368_271) [and](#i10450177354c45a485e190744fc15368_271) [Financial Statement Schedules](#i10450177354c45a485e190744fc15368_271) | | | [removed: [117](#i10450177354c45a485e190744fc15368_271)] [added: [121](#i10450177354c45a485e190744fc15368_271)] | | |

| [Item 16.](#i10450177354c45a485e190744fc15368_274) | | | [Form 10-K Summary](#i10450177354c45a485e190744fc15368_274) | | | [removed: [125](#i10450177354c45a485e190744fc15368_274)] [added: [129](#i10450177354c45a485e190744fc15368_274)] | | |

| [Signatures](#i10450177354c45a485e190744fc15368_277) | | | | | | [removed: [126](#i10450177354c45a485e190744fc15368_277)] [added: [130](#i10450177354c45a485e190744fc15368_277)] | | |

| | | | | | | 6.926% Corporate Units | | | | | | NEE.PRR | | | | | | New York Stock Exchange | | |

NEE, including FPL, conducts periodic [removed: desktop] [added: tabletop] exercises and an annual cybersecurity drill with the participation from time to time of local, state and U.S. federal agencies to test its capability of dealing with a simulated cyberattack.

NEE, including FPL, uses third parties to periodically assess the extent to which its cybersecurity risk management protocols align with the U.S. Department of Energy’s Cybersecurity Capability Maturity Model [removed: standard.][added: standard or to the U.S. National Institute of Standards and Technology's Cybersecurity Framework for Protecting Critical Infrastructure.]

Given geopolitical events, NEE, including FPL, continues to take steps to defend against cybersecurity threats to its critical infrastructure, including communications [added: and training] with personnel to ensure heightened awareness of increased cybersecurity threats worldwide.

Although there have been no cybersecurity incidents or threats with a material impact on NEE’s nor FPL’s business strategy, results of operations, or financial condition, NEE's or FPL's information technology systems could fail or be breached, and such systems could be inoperable, [added: causing NEE and FPL to be unable to fulfill critical business operations.]

causing NEE and FPL to be unable to fulfill critical business operations.

[Table of Content](#i10450177354c45a485e190744fc15368_10)[s](#i10450177354c45a485e190744fc15368_10)

NEE's common stock is traded on the New York Stock Exchange under the symbol "NEE." As of January 31, [removed: 2025,] [added: 2026,] there were [removed: 13,160] [added: 12,314] holders of record of NEE's common stock.

In February [removed: 2025,] [added: 2026,] NEE announced that it would increase its quarterly dividend on its common stock from [removed: $0.515] [added: $0.5665] per share to [removed: $0.5665] [added: $0.6232] per share.

Issuer Purchases of Equity Securities. Information regarding purchases made by NEE of its common stock during the three months ended December 31, [removed: 2024] [added: 2025] is as follows:

| [removed: 10/1/24] [added: 10/1/25] – [removed: 10/31/24] [added: 10/31/25] | | | | | | — | | | | | | $ | — | | | | | — | | | | | | 180,000,000 | | |

| [removed: 12/1/24] [added: 11/1/25] – [removed: 12/31/24] [added: 11/30/25] | | | | | | [removed: —] [added: 7,036] | | | | | | $ | [removed: —] [added: 83.88] | | | | | — | | | | | | 180,000,000 | | |

(a)Includes shares of common stock withheld from employees to pay certain withholding taxes upon the vesting of stock awards granted to such employees under the NextEra Energy, Inc. [added: Amended and Restated] 2021 Long Term Incentive [added: Plan or the NextEra Energy, Inc. Amended and Restated 2011 Long Term Incentive] Plan.

| 12/1/25 – 12/31/25 | | | | | | 1,224 | | | | | | $ | 81.65 | | | | | — | | | | | | 180,000,000 | | |

| Total | | | | | | 8,260 | | | | | | $ | 83.55 | | | | | — | | | | | | | | |

[Table of Content](#i10450177354c45a485e190744fc15368_10)[s](#i10450177354c45a485e190744fc15368_10)

| 11/1/24 – 11/30/24 | | | | | | 4,053 | | | | | | $ | 76.35 | | | | | — | | | | | | 180,000,000 | | |

| Total | | | | | | 4,053 | | | | | | $ | 76.35 | | | | | — | | | | | | | | |

Management assessed the effectiveness of NEE's and FPL's internal control over financial reporting as of December 31, [removed: 2024,] [added: 2025,] using the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission in the *Internal Control – Integrated Framework (2013)*.

Based on this assessment, management believes that NEE's and FPL's internal control over financial reporting was effective as of December 31, [removed: 2024.][added: 2025.]

| John W. Ketchum Chairman, President and Chief Executive Officer of NEE and Chairman of FPL | | | | | | [removed: Brian W. Bolster] [added: Michael H. Dunne] Executive Vice President, Finance and Chief Financial Officer of NEE and FPL | | |

| [removed: James M. May] [added: William J. Gough] Vice President, Controller and Chief Accounting Officer of NEE | | | | | | | | |

| ARMANDO PIMENTEL, JR. | | | | | | [removed: KEITH FERGUSON] [added: AMIN A. MOHOMED] | | |

| Armando Pimentel, Jr. [removed: President and] Chief Executive Officer of FPL | | | | | | [removed: Keith Ferguson] [added: Amin A. Mohomed] Vice President, Accounting and Controller of FPL | | |

We have audited the internal control over financial reporting of NextEra Energy, Inc. and subsidiaries (NEE) and Florida Power & Light Company and subsidiaries (FPL) as of December 31, [removed: 2024,] [added: 2025,] based on criteria established in *Internal Control – Integrated Framework* *(2013)* issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

In our opinion, NEE and FPL maintained, in all material respects, effective internal control over financial reporting as of December 31, [removed: 2024,] [added: 2025,] based on criteria established in *Internal Control – Integrated Framework (2013)* issued by COSO.

We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated financial statements as of and for the year ended December 31, [removed: 2024] [added: 2025,] of NEE and FPL and our report dated February [removed: 14, 2025,] [added: 13, 2026,] expressed unqualified opinions on those financial statements.

We have audited the accompanying consolidated balance sheets of NextEra Energy, Inc. and subsidiaries (NEE) and the related separate consolidated balance sheets of Florida Power & Light Company and subsidiaries (FPL) as of December 31, [removed: 2024] [added: 2025] and [removed: 2023,] [added: 2024,] and NEE's and FPL's related consolidated statements of income and cash flows, NEE's consolidated statements of comprehensive income and equity, and FPL’s consolidated statements of common shareholder’s equity, for each of the three years in the period ended December 31, [removed: 2024,] [added: 2025,] and the related notes (collectively referred to as the "financial statements").

In our opinion, the financial statements present fairly, in all material respects, the consolidated financial position of NEE and FPL as of December 31, [removed: 2024] [added: 2025] and [removed: 2023,] [added: 2024,] and the results of their operations and their cash flows for each of the three years in the period ended December 31, [removed: 2024,] [added: 2025,] in conformity with accounting principles generally accepted in the United States of America.

We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), NEE’s and FPL’s internal control over financial reporting as of December 31, [removed: 2024,] [added: 2025,] based on criteria established in *Internal Control – Integrated Framework (2013)* issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated February [removed: 14, 2025,] [added: 13, 2026,] expressed unqualified opinions on NEE’s and FPL’s internal control over financial reporting.

NEE – Operating [removed: Revenue] [added: Revenues] – Unrealized [removed: Losses] [added: Gains] – Refer to Note 3 to the financial statements

For the year ended December 31, [removed: 2024,] [added: 2025,] unrealized [removed: losses] [added: gains] associated with Level 3 transactions of [removed: $25] [added: $395] million are included in operating revenues in the consolidated statement of income of NEE.

Our audit procedures related to operating revenue – unrealized [removed: losses] [added: gains] included the following, among others:

[removed: FPL] [added: NEE and FPL] – Impact of Rate Regulation on the Financial Statements – Refer to Note 1 to the financial statements

We also tested the effectiveness of management’s controls over the initial recognition of amounts as property, plant, and equipment and regulatory assets or liabilities, including [removed: storm restoration costs;] the depreciation and amortization of such amounts in accordance with FPSC orders; and the monitoring and evaluation of regulatory [removed: developments] [added: developments, including from the 2025 base rate proceeding,] that may affect the likelihood of recovering costs recognized as property, plant and equipment and regulatory assets in future rates or of a refund or future reduction in rates that should be recognized as a regulatory liability.

- We assessed the likelihood of (1) recovery of recorded regulatory assets and (2) obligations requiring future reductions in rates by obtaining, reading, and evaluating relevant regulatory orders issued by the FPSC to FPL, [added: including from the 2025 base rate proceeding,] and considering regulatory precedents established by the FPSC.

- We evaluated FPL's disclosures related to the impacts of rate regulation, [removed: including] [added: comprising] the balances recorded and regulatory [removed: developments.][added: developments, including from the 2025 base rate proceeding.]

| | | | [removed: 2024] [added: 2025] | | | | | | [removed: 2023] [added: 2024] | | | | | | [removed: 2022] [added: 2023] | | | | | |

| OPERATING REVENUES | | | | | | $ | [removed: 24,753] [added: 27,412] | | | | | $ | [removed: 28,114] [added: 24,753] | | | | | $ | [removed: 20,956] [added: 28,114] | |

| Fuel, purchased power and interchange | | | | | | [removed: 5,029] [added: 4,944] | | | | | | [removed: 5,457] [added: 5,029] | | | | | | [removed: 6,389] [added: 5,457] | | |

| Other operations and maintenance | | | | | | [removed: 4,857] [added: 5,399] | | | | | | [removed: 4,681] [added: 4,857] | | | | | | [removed: 4,428] [added: 4,681] | | |

| Depreciation and amortization | | | | | | [removed: 5,462] [added: 6,580] | | | | | | [removed: 5,879] [added: 5,462] | | | | | | [removed: 4,503] [added: 5,879] | | |

| Taxes other than income taxes and other – net | | | | | | [removed: 2,278] [added: 2,469] | | | | | | [removed: 2,265] [added: 2,278] | | | | | | [removed: 2,077] [added: 2,265] | | |

| Total operating expenses – net | | | | | | [removed: 17,626] [added: 19,392] | | | | | | [removed: 18,282] [added: 17,626] | | | | | | [removed: 17,397] [added: 18,282] | | |

| GAINS ON DISPOSAL OF BUSINESSES/ASSETS – NET | | | | | | [removed: 352] [added: 260] | | | | | | [removed: 405] [added: 352] | | | | | | [removed: 522] [added: 405] | | |

| OPERATING INCOME | | | | | | [removed: 7,479] [added: 8,280] | | | | | | [removed: 10,237] [added: 7,479] | | | | | | [removed: 4,081] [added: 10,237] | | |

| Interest expense | | | | | | [removed: (2,235)] [added: (4,572)] | | | | | | [removed: (3,324)] [added: (2,235)] | | | | | | [removed: (585)] [added: (3,324)] | | |

| Equity in [removed: earnings (losses)] [added: losses] of equity method investees | | | | | | [removed: (246)] [added: (184)] | | | | | | [removed: (648)] [added: (246)] | | | | | | [removed: 203] [added: (648)] | | |

| Allowance for equity funds used during construction | | | | | | [removed: 198] [added: 181] | | | | | | [removed: 161] [added: 198] | | | | | | [removed: 112] [added: 161] | | |

| Gains on disposal of investments and other property – net | | | | | | [removed: 163] [added: 179] | | | | | | [removed: 125] [added: 163] | | | | | | [removed: 80] [added: 125] | | |

| Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds – net | | | | | | 107 | | | | | | [removed: 159] [added: 107] | | | | | | [removed: (461)] [added: 159] | | |

| Other net periodic benefit income | | | | | | [removed: 235] [added: 267] | | | | | | [removed: 245] [added: 235] | | | | | | [removed: 202] [added: 245] | | |

| Other – net | | | | | | [removed: 336] [added: 272] | | | | | | [removed: 333] [added: 336] | | | | | | [removed: 200] [added: 333] | | |

| Total other income (deductions) – net | | | | | | [removed: (1,442)] [added: (3,750)] | | | | | | [removed: (2,949)] [added: (1,442)] | | | | | | [removed: (249)] [added: (2,949)] | | |

| INCOME BEFORE INCOME TAXES | | | | | | [removed: 6,037] [added: 4,530] | | | | | | [removed: 7,288] [added: 6,037] | | | | | | [removed: 3,832] [added: 7,288] | | |

| [removed: INCOME TAXES] [added: Total income taxes] | | | [added: $] | [added: (802)] | | [removed: 339] | | | [added: $] | [added: 339] | | [added: | | | $ |] 1,006 | | | | | [added: $] | [removed: 586] [added: 719] | | | [added: | | $ | 970 | | | | | $ | 1,123 | |]

| NET INCOME | | | | | | [removed: 5,698] [added: 5,332] | | | | | | [removed: 6,282] [added: 5,698] | | | | | | [removed: 3,246] [added: 6,282] | | |

| NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS | | | | | | [removed: 1,248] [added: 1,503] | | | | | | [removed: 1,028] [added: 1,248] | | | | | | [removed: 901] [added: 1,028] | | |

| JOHN W. KETCHUM | | | | | | MICHAEL H. DUNNE | | |

| WILLIAM J. GOUGH | | | | | | | | |

February 13, 2026

February 13, 2026

| INCOME TAX EXPENSE (BENEFIT) | | | | | | (802) | | | | | | 339 | | | | | | 1,006 | | |

| Other | | | | | | 1,171 | | | | | | 1,438 | | |

| Net income | | | $ | 5,332 | | | | | $ | 5,698 | | | | | $ | 6,282 | |

| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Balances, December 31, 2025 | | | 2,083 | | | | | | $ | 21 | | | | | $ | 19,494 | | | | | $ | (9) | | | | | $ | 35,102 | | | | | $ | 54,608 | | | | | $ | 11,871 | | | | | $ | 66,479 | | | | | $ | — | |

| Depreciation and amortization | | | 3,778 | | | | | | 2,827 | | | | | | 3,789 | | |

| Cost recovery clauses and franchise fees | | | (89) | | | | | | 1,016 | | | | | | 1,104 | | |

| Recoverable storm-related costs | | | (460) | | | | | | (676) | | | | | | (399) | | |

| Other – net | | | (7) | | | | | | (14) | | | | | | (27) | | |

| Proceeds from the sale of Florida City Gas business | | | — | | | | | | — | | | | | | 924 | | |

| Other – net | | | 7 | | | | | | 3 | | | | | | (15) | | |

| Other – net | | | (61) | | | | | | (46) | | | | | | (72) | | |

| Other | | | — | | | | | | (2) | | | | | | — | | | | | | | | |

| Balances, December 31, 2025 | | | $ | 1,373 | | | | | $ | 26,866 | | | | | $ | 18,747 | | | | | $ | 46,986 | |

| | | | 2025 | | | | | | 2024 | | | | | | 2025 | | | | | | 2024 | | |

| Other | | | 36 | | | | | | 55 | | | | | | 24 | | | | | | 49 | | |

Base Rates Effective January 2026 through December 2029 – In January 2026, the FPSC issued a final order approving a stipulation and settlement agreement between FPL and several intervenors in FPL's base rate proceeding (2025 rate agreement).

Key elements of the 2025 rate agreement, which became effective in January 2026 and continues through at least December 2029, include, among other things, the following:

◦$945 million beginning January 1, 2026; and

◦$705 million beginning January 1, 2027.

- In addition, FPL will receive, subject to conditions specified in the 2025 rate agreement, base rate increases associated with solar generation projects that enter service in 2027, 2028 and 2029 and battery storage projects that enter service in 2028 and 2029 through a Solar and Battery Base Rate Adjustment (SoBRA) mechanism.

FPL is required to demonstrate either a specified economic or resource/reliability need for these projects.

- FPL's authorized regulatory capital structure reflects a 59.6% equity ratio, consistent with prior base rate cases.

- FPL is authorized to implement a rate stabilization mechanism (RSM) over the term of the 2025 rate agreement up to approximately $1.5 billion, after tax.

The RSM reserve includes certain deferred tax liabilities, the remaining balance from FPL’s existing reserve amortization mechanism as of January 1, 2026 and investment tax credit amortization for battery storage projects placed in service in 2025.

Subject to certain conditions, FPL could amortize the RSM reserve over the term of the 2025 rate agreement, provided that in any 12-month period of the 2025 rate agreement FPL would be required to amortize at least enough RSM reserve amount to maintain its minimum authorized regulatory ROE and also could not amortize any RSM reserve amount that would result in an earned regulatory ROE in excess of its maximum authorized regulatory ROE.

- FPL will implement tariffs for large-load customers with new or incremental load of 50 megawatts (MW) or greater and with a load factor of at least 85%.

In February 2026, the Office of Public Counsel, Floridians Against Increased Rates, Inc. and, as a group, Florida Rising, Inc., Environmental Confederation of Southwest Florida, Inc. and League of United Latin American Citizens of Florida filed a joint motion for reconsideration and a joint request for oral argument challenging the FPSC's final order approving the 2025 rate agreement.

FPL has opposed the motion and the request for oral argument.

- New retail base rates and charges which resulted in the following increases in annualized retail base revenues:

- Authorized regulatory ROE of 10.60%, with a range of 9.70% to 11.70%, which was increased in 2022 to be 10.80%, with a range of 9.80% to 11.80%, based on a provision associated with an increase in the U.S. Treasury rate.

- An interim storm cost recovery mechanism for storm restoration costs.

As part of the 2025 rate agreement, the FPSC approved new unified depreciation rates which became effective January 1, 2026.

Previously approved studies were effective from January 1, 2022 through December 2025 and resulted in an annual expense of $48 million which is recorded in depreciation and amortization expense in NEE's and FPL's consolidated statements of income.

NEE's credit department monitors current and forward credit exposure to counterparties and their

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| --- | --- | --- | --- | --- | --- | --- | --- | --- |

| JOHN W. KETCHUM | | | | | | BRIAN W. BOLSTER | | |

| JAMES M. MAY | | | | | | | | |

February 14, 2025

| Contract assets | | | | | | 252 | | | | | | 1,487 | | |

| Other | | | | | | 1,186 | | | | | | 1,335 | | |

| Decrease in property, plant and equipment – net and contract liabilities (2023 and 2022 activity, see Note 1) | | | $ | — | | | | | $ | 251 | | | | | $ | 668 | |

| Balances, December 31, 2021 | | | 1,963 | | | (a) | | | $ | 20 | | | | | $ | 11,271 | | | | | $ | — | | | | | $ | 25,911 | | | | | $ | 37,202 | | | | | $ | 8,222 | | | | | $ | 45,424 | | | | | $ | 245 | |

| Premium on equity units | | | — | | | | | | — | | | | | | (226) | | | | | | — | | | | | | — | | | | | | (226) | | | | | | — | | | | | | | | | | | | — | | |

| Disposal of subsidiaries with noncontrolling interests(b) | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (846) | | | | | | | | | | | | — | | |

| Other – net | | | (14) | | | | | | (27) | | | | | | 20 | | |

| Other – net | | | 3 | | | | | | (15) | | | | | | (3) | | |

| Repayments of other short-term debt | | | (255) | | | | | | — | | | | | | — | | |

| Other – net | | | (46) | | | | | | (72) | | | | | | (39) | | |

| Balances, December 31, 2021 | | | $ | 1,373 | | | | | $ | 19,936 | | | | | $ | 12,285 | | | | | $ | 33,594 | |

| Capital contributions from NEE | | | — | | | | | | 3,400 | | | | | | — | | | | | | | | |

| Other | | | 55 | | | | | | 10 | | | | | | 49 | | | | | | 5 | | |

(c)The majority of these regulatory assets are being amortized over a 12-month period that began in January 2025.

FPL's recovery through the SoBRA mechanism was limited to an installed cost cap of $1,250 per kilowatt.

However, in the event the average 30-year U.S. Treasury rate was 2.49% or greater over a consecutive six-month period, FPL was authorized to increase the regulatory ROE to 10.80% with a range of 9.80% to 11.80%.

During August 2022, this provision was triggered and effective September 1, 2022, FPL's authorized regulatory ROE and ROE range were increased.

The order affirmed the FPSC's prior approval of the 2021 rate agreement and is intended to further document, as requested by the Florida Supreme Court, how the evidence presented led to and supports the FPSC's decision to approve FPL's 2021 rate agreement.

In April 2024, Florida Rising, Inc., Environmental Confederation of Southwest Florida, Inc. and League of United Latin American Citizens of Florida (collectively, the appellants) submitted a notice of appeal to the Florida Supreme Court regarding the FPSC's supplemental final order.

The Florida Supreme Court issued an order granting FPL's motion to expedite the schedule.

Oral arguments were held in October 2024, and the appeal remains pending.

FPL 2025 Base Rate Proceeding – On December 30, 2024, FPL filed a formal notification with the FPSC indicating its intent to initiate a base rate proceeding by submitting a four-year rate plan that would begin in January 2026 replacing the 2021 rate agreement.

The notification states that, based on preliminary estimates, FPL expects to request a general base revenue requirement increase of approximately $1.55 billion effective January 2026 and a subsequent increase of approximately $930 million effective January 2027.

The plan is also expected to request authority for a Solar and Battery Base Rate Adjustment mechanism to recover, subject to FPSC review, the revenue requirements associated with building and operating additional solar and battery storage projects in 2028 and 2029.

In addition, FPL expects to propose an allowed regulatory ROE midpoint of 11.90% and to incorporate the continued application of FPL's longstanding equity ratio approved in prior base rate cases.

FPL expects to file its formal request to initiate a base rate proceeding on or around February 28, 2025.

In order to earn the targeted regulatory ROE in each reporting period subject to the conditions of the

Changes resulting from revisions to the timing or amount of the original

FPL filed a site-specific environmental impact statement with the NRC related to the previously approved 20-year renewal application for both Turkey Point operating licenses.

Approval of the additional 20 years occurred in September 2024.

required to be sold prior to recovery of the amortized cost basis, which are recognized in other – net in NEE's consolidated statements of income.

For the years ended December 31, 2024, 2023 and 2022, NEE recorded approximately $52 million, $77 million and $113 million, respectively, of bad debt expense, including credit losses, which are included in O&M expenses in NEE’s consolidated statements of income.

*Contract Assets* – From time to time, NEER enters into agreements to build and sell renewable generation facilities and other assets to third parties.

At December 31, 2024 and 2023, contract assets on NEE’s consolidated balance sheets primarily represent costs for such facilities and assets that are expected to be sold in less than 12 months.

See Note 4 – Nonrecurring Fair Value Measurements.

As of December 31, [removed: 2024,] [added: 2025,] each of NEE and FPL had performed an evaluation, under the supervision and with the participation of its management, including NEE's and FPL's chief executive officer and chief financial officer, of the effectiveness of the design and operation of each company's disclosure controls and procedures (as defined in the Securities Exchange Act of 1934 Rules 13a-15(e) and 15d-15(e)).

Based upon that evaluation, the chief executive officer and the chief financial officer of each of NEE and FPL concluded that the company's disclosure controls and procedures were effective as of December 31, [removed: 2024.][added: 2025.]

[removed: (b)] [added: -] On [removed: November 5, 2024,] [added: December 9, 2025,] James May, [added: Executive] Vice President, [removed: Controller and Chief Accounting Officer,] [added: Treasurer,] adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the sale of [removed: 2,177] [added: 4,672] shares of NEE's common stock until [removed: November 5, 2025.][added: December 9, 2026.]

(b) Rule 10b5-1 trading arrangements adopted during the three months ended December 31, 2025 were as follows:

- On December 9, 2025, Terrell Kirk Crews II, Executive Vice President, Chief Risk Officer, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the sale of 19,672 shares of NEE's common stock until May 29, 2026.

- On December 9, 2025, Mark Lemasney, Executive Vice President, Power Generation Division, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the sale of 3,217 shares of NEE's common stock until September 4, 2026.

- On December 11, 2025, Nicole Daggs, Executive Vice President, Human Resources and Corporate Services, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the sale of 4,189 shares of NEE's common stock until December 11, 2026.

The information required by this item will be included under the headings "Business of the Annual Meeting," "Information About NextEra Energy and Management" and "Corporate Governance and Board Matters" in NEE's Proxy Statement which will be filed with the SEC in connection with the [removed: 2025] [added: 2026] Annual Meeting of Shareholders (NEE's Proxy Statement) and is incorporated herein by reference, or is included in Item 1.

NEE's equity compensation plan information [removed: at] [added: as of] December 31, [removed: 2024] [added: 2025] is as follows:

(a)Includes an aggregate of [removed: 10,581,165] [added: 10,509,218] outstanding options, [removed: 4,126,194] [added: 4,545,444] unvested performance share awards (at maximum payout), [removed: 44,036 deferred fully vested performance shares, 391,727] [added: 285,124] unvested restricted stock units (including future reinvested dividends) under the NextEra Energy, Inc. [added: Amended and Restated] 2021 Long Term Incentive Plan and former long term incentive plans, and [removed: 57,487] [added: 67,049] fully vested shares deferred by directors under the NextEra Energy, Inc. 2017 Non-Employee Directors Stock Plan, and its predecessors, the 2007 Non-Employee Directors Stock Plan and the FPL Group, Inc. Amended and Restated Non-Employee Directors Stock Plan.

(c)Includes [removed: 56,094,128] [added: 52,862,453] shares under the NextEra Energy, Inc. [added: Amended and Restated] 2021 Long Term Incentive Plan and [removed: 1,735,704] [added: 1,704,738] shares under the NextEra Energy, Inc. 2017 Non-Employee Directors Stock Plan.

| Equity compensation plans approved by security holders | | | | | | 15,406,835 | | | (a) | | | $ | 60.08 | | (b) | | | 54,567,191 | | | (c) | | |

| Total | | | | | | 15,406,835 | | | | | | $ | 60.08 | | | | | 54,567,191 | | | | | |

| Equity compensation plans approved by security holders | | | | | | 15,200,609 | | | (a) | | | $ | 56.54 | | (b) | | | 57,829,832 | | | (c) | | |

| Total | | | | | | 15,200,609 | | | | | | $ | 56.54 | | | | | 57,829,832 | | | | | |

FPL – The following table presents fees billed for professional services rendered by Deloitte & Touche LLP, the member firms of Deloitte Touche Tohmatsu, and their respective affiliates (collectively, Deloitte & Touche) for the fiscal years ended December 31, [removed: 2024] [added: 2025] and [removed: 2023.][added: 2024.]

| Audit fees(a) | | | $ | [removed: 4,046,000] [added: 3,478,000] | | | | | $ | [removed: 4,402,000] [added: 4,046,000] | |

| Audit-related fees(b) | | | [removed: 236,000] [added: 802,000] | | | | | | [removed: 102,000] [added: 236,000] | | |

| Tax fees(c) | | | [removed: 497,000] [added: 302,000] | | | | | | [removed: 390,000] [added: 497,000] | | |

| All other fees(d) | | | [removed: 13,000] [added: 52,000] | | | | | | [removed: 187,000] [added: 13,000] | | |

| Total | | | $ | [removed: 4,792,000] [added: 4,634,000] | | | | | $ | [removed: 5,081,000] [added: 4,792,000] | |

In [removed: 2024] [added: 2025] and [removed: 2023,] [added: 2024,] none of the amounts presented above represent services provided to NEE or FPL by Deloitte & Touche that were approved by the Audit Committee after services were rendered pursuant to Rule 2-01(c)(7)(i)(C) of Regulation S-X (which provides for a waiver of the otherwise applicable pre-approval requirement if certain conditions are met).

| | | | 2025 | | | | | | 2024 | | |

These fees primarily relate to the audit of storm costs and the pre-implementation internal control assessment of information technology systems.

In 2025 and 2024, these fees relate to training.

| | | | 2024 | | | | | | 2023 | | |

These fees primarily relate to audits of subsidiary financial statements and financial systems pre-implementation internal control assessment.

In 2024, these fees relate to training, and in 2023, these fees relate to training and advisory services for IT job architecture and skills descriptions.

| | | | | | | Management's Report on Internal Control Over Financial Reporting | | | [removed: [57](#i10450177354c45a485e190744fc15368_112)] [added: [60](#i10450177354c45a485e190744fc15368_112)] | | |

| | | | | | | Attestation Report of Independent Registered Public Accounting Firm | | | [removed: [58](#i10450177354c45a485e190744fc15368_118)] [added: [61](#i10450177354c45a485e190744fc15368_118)] | | |

| | | | | | | Report of Independent Registered Public Accounting Firm (PCAOB ID 34) | | | [removed: [59](#i10450177354c45a485e190744fc15368_121)] [added: [62](#i10450177354c45a485e190744fc15368_121)] | | |

| | | | | | | Consolidated Statements of Income | | | [removed: [61](#i10450177354c45a485e190744fc15368_124)] [added: [64](#i10450177354c45a485e190744fc15368_124)] | | |

| | | | | | | Consolidated Statements of Comprehensive Income | | | [removed: [62](#i10450177354c45a485e190744fc15368_127)] [added: [65](#i10450177354c45a485e190744fc15368_127)] | | |

| | | | | | | Consolidated Balance Sheets | | | [removed: [63](#i10450177354c45a485e190744fc15368_133)] [added: [66](#i10450177354c45a485e190744fc15368_133)] | | |

| | | | | | | Consolidated Statements of Cash Flows | | | [removed: [64](#i10450177354c45a485e190744fc15368_139)] [added: [67](#i10450177354c45a485e190744fc15368_139)] | | |

| | | | | | | Consolidated Statements of Equity | | | [removed: [65](#i10450177354c45a485e190744fc15368_142)] [added: [68](#i10450177354c45a485e190744fc15368_142)] | | |

| | | | | | | Consolidated Statements of Income | | | [removed: [66](#i10450177354c45a485e190744fc15368_145)] [added: [69](#i10450177354c45a485e190744fc15368_145)] | | |

| | | | | | | Consolidated Balance Sheets | | | [removed: [67](#i10450177354c45a485e190744fc15368_148)] [added: [70](#i10450177354c45a485e190744fc15368_148)] | | |

| | | | | | | Consolidated Statements of Cash Flows | | | [removed: [68](#i10450177354c45a485e190744fc15368_154)] [added: [71](#i10450177354c45a485e190744fc15368_154)] | | |

| | | | | | | Consolidated Statements of Common Shareholder's Equity | | | [removed: [69](#i10450177354c45a485e190744fc15368_157)] [added: [72](#i10450177354c45a485e190744fc15368_157)] | | |

| | | | | | | Notes to Consolidated Financial Statements | | | [removed: [70](#i10450177354c45a485e190744fc15368_160)] [added: [73](#i10450177354c45a485e190744fc15368_160)] – [removed: [113](#i10450177354c45a485e190744fc15368_2390)] [added: [11](#i10450177354c45a485e190744fc15368_2678)[7](#i10450177354c45a485e190744fc15368_2678)] | | |

| | | | | | | Certain exhibits listed below refer to "FPL Group" and "FPL Group Capital," and were effective prior to the change of the name FPL Group, Inc. to NextEra Energy, Inc., and of the name FPL Group Capital Inc to NextEra Energy Capital Holdings, Inc., during 2010. [added: Certain exhibits also refer to NextEra Energy Partners, LP and were effective prior to the change of its name to XPLR Infrastructure, LP, effective in 2025.] | | | | | |

| | | | Exhibit Number | | | | | | Description | | | | | | NEE | | | | | | FPL | | | [added: | | |]

| | | | *3(i)a | | | | | | [added: [Second](https://www.sec.gov/Archives/edgar/data/753308/000075330820000192/exhibit3i.htm)] [Restated Articles of Incorporation of NextEra Energy, Inc. (filed as Exhibit 3(i) to Form 8-K dated October 26, 2020, File No. 1-8841)](https://www.sec.gov/Archives/edgar/data/753308/000075330820000192/exhibit3i.htm) | | | | | | x | | | | | | | | | [added: | | |]

| | | | *3(i)b | | | | | | [Restated Articles of Incorporation of Florida Power & Light Company (filed as Exhibit 3(i)b to Form 10-K for the year ended December 31, 2010, File No. 2-27612)](https://www.sec.gov/Archives/edgar/data/37634/000075330811000025/exhibit3ib.htm) | | | | | | | | | | | | x | | | [added: | | |]

| | | | *3(i)c | | | | | | [A](https://www.sec.gov/Archives/edgar/data/37634/000075330821000014/nee-q42020xex3ic.htm)[rticles of Merger of Florida Power & Light Company and Gulf Power Company (filed as](https://www.sec.gov/Archives/edgar/data/37634/000075330821000014/nee-q42020xex3ic.htm) [Exhibit 3(i](https://www.sec.gov/Archives/edgar/data/37634/000075330821000014/nee-q42020xex3ic.htm)[)](https://www.sec.gov/Archives/edgar/data/37634/000075330821000014/nee-q42020xex3ic.htm)[(](https://www.sec.gov/Archives/edgar/data/37634/000075330821000014/nee-q42020xex3ic.htm)[c](https://www.sec.gov/Archives/edgar/data/37634/000075330821000014/nee-q42020xex3ic.htm)[)](https://www.sec.gov/Archives/edgar/data/37634/000075330821000014/nee-q42020xex3ic.htm) [t](https://www.sec.gov/Archives/edgar/data/37634/000075330821000014/nee-q42020xex3ic.htm)[o Form 10-K for the year ended December 31, 2020, File No. 2-27612)](https://www.sec.gov/Archives/edgar/data/37634/000075330821000014/nee-q42020xex3ic.htm) | | | | | | | | | | | | x | | | [added: | | |]

| | | | *3(ii)a | | | | | | [Amended and Restated Bylaws of NextEra Energy, Inc., effective October 14, 2016 (filed as Exhibit 3(ii)(b) to Form 8-K dated October 14, 2016, File No. 1-8841)](https://www.sec.gov/Archives/edgar/data/753308/000075330816000431/exhibit3iib10142016.htm) | | | | | | x | | | | | | | | | [added: | | |]

| | | | *3(ii)b | | | | | | [Amended and Restated Bylaws of Florida Power & Light Company](https://www.sec.gov/Archives/edgar/data/37634/000075330808000030/exhibit3ii-b.htm)[, as amended through October 17, 2008 (filed as Exhibit 3(ii)b to Form 10-Q for the quarter ended September 30, 2008, File No. 2-27612)](https://www.sec.gov/Archives/edgar/data/37634/000075330808000030/exhibit3ii-b.htm) | | | | | | | | | | | | x | | | [added: | | |]

[removed: | | | | *4(a) | | | | | | Mortgage and Deed of Trust dated as of January 1, 1944, as amended, between Florida Power & Light Company and Deutsche Bank Trust Company Americas, Trustee (filed as Exhibit B-3, File No. 2-4845; Exhibit 7(a), File No. 2-7126; Exhibit 7(a), File No. 2-7523; Exhibit 7(a), File No. 2-7990; Exhibit 7(a), File No. 2-9217; Exhibit 4(a)-5, File No. 2-10093; Exhibit 4(c), File No. 2-11491; Exhibit 4(b)-1, File No. 2-12900; Exhibit 4(b)-1, File No. 2-13255; Exhibit 4(b)-1, File No. 2-13705; Exhibit 4(b)-1, File No. 2-13925; Exhibit 4(b)-1, File No. 2-15088; Exhibit 4(b)-1, File No. 2-15677; Exhibit 4(b)-1, File No. 2-20501; Exhibit 4(b)-1, File No. 2-22104; Exhibit 2(c), File No. 2-23142; Exhibit 2(c), File No. 2-24195; Exhibit 4(b)-1, File No. 2-25677; Exhibit 2(c), File No. 2-27612; Exhibit 2(c), File No. 2-29001; Exhibit 2(c), File No. 2-30542; Exhibit 2(c), File No. 2-33038; Exhibit 2(c), File No. 2-37679; Exhibit 2(c), File No. 2-39006; Exhibit 2(c), File No. 2-41312; Exhibit 2(c), File No. 2-44234; Exhibit 2(c), File No. 2-46502; Exhibit 2(c), File No. 2-48679; Exhibit 2(c), File No. 2-49726; Exhibit 2(c), File No. 2-50712; Exhibit 2(c), File No. 2-52826; Exhibit 2(c), File No. 2-53272; Exhibit 2(c), File No. 2-54242; Exhibit 2(c), File No. 2-56228; Exhibits 2(c) and 2(d), File No. 2-60413; Exhibits 2(c) and 2(d), File No. 2-65701; Exhibit 2(c), File No. 2-66524; Exhibit 2(c), File No. 2-67239; Exhibit 4(c), File No. 2-69716; Exhibit 4(c), File No. 2-70767; Exhibit 4(b), File No. 2-71542; Exhibit 4(b), File No. 2-73799; Exhibits 4(c), 4(d) and 4(e), File No. 2-75762; Exhibit 4(c), File No. 2-77629; Exhibit 4(c), File No. 2-79557; Exhibit 99(a) to Post-Effective Amendment No. 5 to Form S-8, File No. 33-18669; Exhibit 99(a) to Post-Effective Amendment No. 1 to Form S-3, File No. 33-46076; [Exhibit 4(b) to Form 10-Q for the quarter ended June 30, 1995, File No. 1-3545](https://www.sec.gov/Archives/edgar/data/37634/0000037634-95-000010.txt); [Exhibit 4(a) to Form 10-Q for the quarter ended March 31, 1996, File No. 1-3545](https://www.sec.gov/Archives/edgar/data/37634/0000753308-96-000009.txt); [Exhibit 4(o), File No. 333-102169](https://www.sec.gov/Archives/edgar/data/753308/000095012002000664/ex4_o.txt); [Exhibit 4(k) to Post-Effective Amendment No. 1 to Form S-3, File No. 333-102172](https://www.sec.gov/Archives/edgar/data/37634/000095012003000209/ex4k.txt); [Exhibit 4(l) to Post-Effective Amendment No. 2 to Form S-3, File No. 333-102172](https://www.sec.gov/Archives/edgar/data/37634/000095012003000683/ex_4l.txt); [Exhibit 4(m) to Post-Effective Amendment No. 3 to Form S-3, File No. 333-102172](https://www.sec.gov/Archives/edgar/data/37634/000095012004000100/ex4m.txt); [Exhibit 4(f) to Amendment No. 1 to Form S-3, File No. 333-125275](https://www.sec.gov/Archives/edgar/data/753308/000104746905017643/a2159683zex-4_f.htm)[;](https://www.sec.gov/Archives/edgar/data/753308/000104746905017643/a2159683zex-4_f.htm) [Exhibit 4(y) to Post-Effective Amendment No. 2 to Form S-3, File Nos. 333-116300, 333-116300-01 and 333-116300-02](https://www.sec.gov/Archives/edgar/data/37634/000095012005000672/ex4y.txt); [Exhibit 4(z) to Post-Effective Amendment No. 3 to Form S-3, File Nos. 333-116300, 333-116300-01 and 333-116300-02](https://www.sec.gov/Archives/edgar/data/37634/000095012006000039/exh4z.txt); [Exhibit 4(b) to Form 10-Q for the quarter ended March 31, 2006, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330806000053/exhibit4b.htm); [Exhibit 4(a) to Form 8-K dated April 17, 2007, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000003763407000003/exhibit4a.htm); [Exhibit 4 to Form 8-K dated January 16, 2008, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000003763408000001/exhibit4.htm); [Exhibit 4(a) to Form 8-K dated March 17, 2009, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330809000035/exhibit4a.htm); [Exhibit 4 to Form 8-K dated February 9, 2010](https://www.sec.gov/Archives/edgar/data/37634/000075330810000007/exhibit4.htm)[,](https://www.sec.gov/Archives/edgar/data/37634/000075330810000007/exhibit4.htm) [File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330810000007/exhibit4.htm); [Exhibit 4 to Form 8-K dated December 9, 2010, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330810000118/exhibit4.htm); [Exhibit 4(a) to Form 8-K dated June 10, 2011, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330811000040/exhibit4a.htm); [Exhibit 4 to Form 8-K dated December 13, 2011, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330811000090/ex4.htm); [Exhibit 4 to Form 8-K dated May 15, 2012, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330812000057/ex4.htm); [Exhibit 4 to Form 8-K dated December 20, 2012, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330812000132/ex4.htm); [Exhibit 4 to Form 8-K dated June 5, 2013, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330813000053/exhibit4dated06052013.htm); [Exhibit 4 to Form 8-K dated May 15, 2014, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330814000038/exhibit4-05152014.htm); [Exhibit 4 to Form 8-K dated September 10, 2014, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330814000087/ex409102014.htm); [Exhibit 4 to Form 8-K dated November 19, 2015, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330815000260/ex4-11192015.htm); [Exhibit 4(b) to Form 10-K for the year ended December 31, 2017, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330818000013/nee-12312017ex4b.htm); [Exhibit 4(a) to Form 10-Q](https://www.sec.gov/Archives/edgar/data/37634/000075330818000081/nee-q12018xex4a.htm) [for the quarter ended March 31, 2018, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330818000081/nee-q12018xex4a.htm); [Exhibit 4(j), File Nos. 333-226056, 333-226056-01 and 333-226056-0](https://www.sec.gov/Archives/edgar/data/37634/000114420418037015/tv497370_ex4j.htm)[2](https://www.sec.gov/Archives/edgar/data/37634/000114420418037015/tv497370_ex4j.htm); [Exhibit 4(k), File Nos. 333-226056, 333-226056-01 and 333-226056-02](https://www.sec.gov/Archives/edgar/data/37634/000114420418037015/tv497370_ex4k.htm); [Exhibit 4(a) to Form 10-Q for the quarter ended](https://www.sec.gov/Archives/edgar/data/37634/000075330819000118/nee-q12019xex4a.htm) [March 31, 2019, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330819000118/nee-q12019xex4a.htm); [Exhibit 4(f) to Form 10-Q for the quarter ended September 30, 2019, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330819000207/nee-q32019xex4f.htm); [Exhibit 4(e) to Form 10-Q for the quarter ended March 31, 2020, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330820000113/nee-q12020ex4e.htm); [Exhibit 4(b) to Form 10-K for the year ended December 31, 2020, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330821000014/nee-q42020xex4b.htm); [Exhibit 4(b) to Form 10-K for the year ended December 31, 2021, File No. 2-27612;](https://www.sec.gov/Archives/edgar/data/753308/000075330822000014/nee-q42021xex4b.htm) [Exhibit 4(c) to Form 10-K for the year ended December 31, 2021, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/753308/000075330822000014/nee-q42021xex4c.htm); [E](https://www.sec.gov/Archives/edgar/data/37634/000075330823000033/nee-q12023xex4g.htm)[xhibit 4(g) to Form 10-Q for the quarter ended March 31, 2023, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330823000033/nee-q12023xex4g.htm); [Exhibit 4(a) to Form 10-Q for the quarter ended June 30, 2023, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330823000045/nee-q22023xex4a.htm); [Exhibit 4(a) to Form 10-Q for the quarter ended June 30, 2024, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330824000050/nee-q22024xex4a.htm); and [Exhibit 4 to Form 10-Q for the quarter ended September 30, 2024, File No. 2-27612)](https://www.sec.gov/Archives/edgar/data/37634/000075330824000057/nee-q32024xex4.htm) | | | | | | x | | | | | | x | | |][added: | | | | *4(a) | | | | | | Mortgage and Deed of Trust dated as of January 1, 1944, as amended, between Florida Power & Light Company and Deutsche Bank Trust Company Americas, Trustee (filed as Exhibit B-3, File No. 2-4845; Exhibit 7(a), File No. 2-7126; Exhibit 7(a), File No. 2-7523; Exhibit 7(a), File No. 2-7990; Exhibit 7(a), File No. 2-9217; Exhibit 4(a)-5, File No. 2-10093; Exhibit 4(c), File No. 2-11491; Exhibit 4(b)-1, File No. 2-12900; Exhibit 4(b)-1, File No. 2-13255; Exhibit 4(b)-1, File No. 2-13705; Exhibit 4(b)-1, File No. 2-13925; Exhibit 4(b)-1, File No. 2-15088; Exhibit 4(b)-1, File No. 2-15677; Exhibit 4(b)-1, File No. 2-20501; Exhibit 4(b)-1, File No. 2-22104; Exhibit 2(c), File No. 2-23142; Exhibit 2(c), File No. 2-24195; Exhibit 4(b)-1, File No. 2-25677; Exhibit 2(c), File No. 2-27612; Exhibit 2(c), File No. 2-29001; Exhibit 2(c), File No. 2-30542; Exhibit 2(c), File No. 2-33038; Exhibit 2(c), File No. 2-37679; Exhibit 2(c), File No. 2-39006; Exhibit 2(c), File No. 2-41312; Exhibit 2(c), File No. 2-44234; Exhibit 2(c), File No. 2-46502; Exhibit 2(c), File No. 2-48679; Exhibit 2(c), File No. 2-49726; Exhibit 2(c), File No. 2-50712; Exhibit 2(c), File No. 2-52826; Exhibit 2(c), File No. 2-53272; Exhibit 2(c), File No. 2-54242; Exhibit 2(c), File No. 2-56228; Exhibits 2(c) and 2(d), File No. 2-60413; Exhibits 2(c) and 2(d), File No. 2-65701; Exhibit 2(c), File No. 2-66524; Exhibit 2(c), File No. 2-67239; Exhibit 4(c), File No. 2-69716; Exhibit 4(c), File No. 2-70767; Exhibit 4(b), File No. 2-71542; Exhibit 4(b), File No. 2-73799; Exhibits 4(c), 4(d) and 4(e), File No. 2-75762; Exhibit 4(c), File No. 2-77629; Exhibit 4(c), File No. 2-79557; Exhibit 99(a) to Post-Effective Amendment No. 5 to Form S-8, File No. 33-18669; Exhibit 99(a) to Post-Effective Amendment No. 1 to Form S-3, File No. 33-46076; [Exhibit 4(b) to Form 10-Q for the quarter ended June 30, 1995, File No. 1-3545](https://www.sec.gov/Archives/edgar/data/37634/0000037634-95-000010.txt); [Exhibit 4(a) to Form 10-Q for the quarter ended March 31, 1996, File No. 1-3545](https://www.sec.gov/Archives/edgar/data/37634/0000753308-96-000009.txt); [Exhibit 4(o), File No. 333-102169](https://www.sec.gov/Archives/edgar/data/753308/000095012002000664/ex4_o.txt); [Exhibit 4(k) to Post-Effective Amendment No. 1 to Form S-3, File No. 333-102172](https://www.sec.gov/Archives/edgar/data/37634/000095012003000209/ex4k.txt); [Exhibit 4(l) to Post-Effective Amendment No. 2 to Form S-3, File No. 333-102172](https://www.sec.gov/Archives/edgar/data/37634/000095012003000683/ex_4l.txt); [Exhibit 4(m) to Post-Effective Amendment No. 3 to Form S-3, File No. 333-102172](https://www.sec.gov/Archives/edgar/data/37634/000095012004000100/ex4m.txt); [Exhibit 4(f) to Amendment No. 1 to Form S-3, File No. 333-125275](https://www.sec.gov/Archives/edgar/data/753308/000104746905017643/a2159683zex-4_f.htm)[;](https://www.sec.gov/Archives/edgar/data/753308/000104746905017643/a2159683zex-4_f.htm) [Exhibit 4(y) to Post-Effective Amendment No. 2 to Form S-3, File Nos. 333-116300, 333-116300-01 and 333-116300-02](https://www.sec.gov/Archives/edgar/data/37634/000095012005000672/ex4y.txt); [Exhibit 4(z) to Post-Effective Amendment No. 3 to Form S-3, File Nos. 333-116300, 333-116300-01 and 333-116300-02](https://www.sec.gov/Archives/edgar/data/37634/000095012006000039/exh4z.txt); [Exhibit 4(b) to Form 10-Q for the quarter ended March 31, 2006, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330806000053/exhibit4b.htm); [Exhibit 4(a) to Form 8-K dated April 17, 2007, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000003763407000003/exhibit4a.htm); [Exhibit 4 to Form 8-K dated January 16, 2008, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000003763408000001/exhibit4.htm); [Exhibit 4(a) to Form 8-K dated March 17, 2009, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330809000035/exhibit4a.htm); [Exhibit 4 to Form 8-K dated February 9, 2010](https://www.sec.gov/Archives/edgar/data/37634/000075330810000007/exhibit4.htm)[,](https://www.sec.gov/Archives/edgar/data/37634/000075330810000007/exhibit4.htm) [File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330810000007/exhibit4.htm); [Exhibit 4 to Form 8-K dated December 9, 2010, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330810000118/exhibit4.htm); [Exhibit 4(a) to Form 8-K dated June 10, 2011, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330811000040/exhibit4a.htm); [Exhibit 4 to Form 8-K dated December 13, 2011, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330811000090/ex4.htm); [Exhibit 4 to Form 8-K dated May 15, 2012, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330812000057/ex4.htm); [Exhibit 4 to Form 8-K dated December 20, 2012, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330812000132/ex4.htm); [Exhibit 4 to Form 8-K dated June 5, 2013, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330813000053/exhibit4dated06052013.htm); [Exhibit 4 to Form 8-K dated May 15, 2014, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330814000038/exhibit4-05152014.htm); [Exhibit 4 to Form 8-K dated September 10, 2014, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330814000087/ex409102014.htm); [Exhibit 4 to Form 8-K dated November 19, 2015, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330815000260/ex4-11192015.htm); [Exhibit 4(b) to Form 10-K for the year ended December 31, 2017, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330818000013/nee-12312017ex4b.htm); [Exhibit 4(a) to Form 10-Q](https://www.sec.gov/Archives/edgar/data/37634/000075330818000081/nee-q12018xex4a.htm) [for the quarter ended March 31, 2018, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330818000081/nee-q12018xex4a.htm); [Exhibit 4(j), File Nos. 333-226056, 333-226056-01 and 333-226056-0](https://www.sec.gov/Archives/edgar/data/37634/000114420418037015/tv497370_ex4j.htm)[2](https://www.sec.gov/Archives/edgar/data/37634/000114420418037015/tv497370_ex4j.htm); [Exhibit 4(k), File Nos. 333-226056, 333-226056-01 and 333-226056-02](https://www.sec.gov/Archives/edgar/data/37634/000114420418037015/tv497370_ex4k.htm); [Exhibit 4(a) to Form 10-Q for the quarter ended](https://www.sec.gov/Archives/edgar/data/37634/000075330819000118/nee-q12019xex4a.htm) [March 31, 2019, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330819000118/nee-q12019xex4a.htm); [Exhibit 4(f) to Form 10-Q for the quarter ended September 30, 2019, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330819000207/nee-q32019xex4f.htm); [Exhibit 4(e) to Form 10-Q for the quarter ended March 31, 2020, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330820000113/nee-q12020ex4e.htm); [Exhibit 4(b) to Form 10-K for the year ended December 31, 2020, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330821000014/nee-q42020xex4b.htm); [Exhibit 4(b) to Form 10-K for the year ended December 31, 2021, File No. 2-27612;](https://www.sec.gov/Archives/edgar/data/753308/000075330822000014/nee-q42021xex4b.htm) [Exhibit 4(c) to Form 10-K for the year ended December 31, 2021, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/753308/000075330822000014/nee-q42021xex4c.htm); [E](https://www.sec.gov/Archives/edgar/data/37634/000075330823000033/nee-q12023xex4g.htm)[xhibit 4(g) to Form 10-Q for the quarter ended March 31, 2023, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330823000033/nee-q12023xex4g.htm); [Exhibit 4(a) to Form 10-Q for the quarter ended June 30, 2023, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330823000045/nee-q22023xex4a.htm); [Exhibit 4(a) to Form 10-Q for the quarter ended June 30, 2024, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330824000050/nee-q22024xex4a.htm); [Exhibit 4 to Form 10-Q for the quarter ended September 30, 2024, File No. 2-27612)](https://www.sec.gov/Archives/edgar/data/37634/000075330824000057/nee-q32024xex4.htm); and [Exhibit 4](https://www.sec.gov/Archives/edgar/data/37634/000075330825000024/nee-q12025xex4a.htm)[(a) to Form 10-Q for the quarter e](https://www.sec.gov/Archives/edgar/data/37634/000075330825000024/nee-q12025xex4a.htm)[nded March 31, 2025, File No. 2-27612](https://www.sec.gov/Archives/edgar/data/37634/000075330825000024/nee-q12025xex4a.htm) | | | | | | x | | | | | | x | | | | | |]

| | | | [removed: *4(b)] [added: *4(c)] | | | | | | [Indenture (For Unsecured Debt Securities), dated as of November 1, 2017, between Florida Power & Light Company and The Bank of New York Mellon (as Trustee) (filed as Exhibit 4(a) to Form 8-K dated November 6, 2017, File No. 2-27612)](https://www.sec.gov/Archives/edgar/data/37634/000075330817000156/exhibit4a11062017.htm) | | | | | | x | | | | | | x | | | [added: | | |]

| | | | [removed: *4(c)] [added: *4(d)] | | | | | | [Officer's Certificate of Florida Power & Light Company, dated June 15, 2018, creating the Floating Rate Notes, Series due June 15, 2068 (filed as Exhibit 4 to Form 8-K dated [removed: June 15, 2018,] [added: June](https://www.sec.gov/Archives/edgar/data/37634/000075330818000104/exhibit406152018.htm) [](https://www.sec.gov/Archives/edgar/data/37634/000075330818000104/exhibit406152018.htm)[15,](https://www.sec.gov/Archives/edgar/data/37634/000075330818000104/exhibit406152018.htm) [](https://www.sec.gov/Archives/edgar/data/37634/000075330818000104/exhibit406152018.htm)[2018,] File No. 2-27612)](https://www.sec.gov/Archives/edgar/data/37634/000075330818000104/exhibit406152018.htm) | | | | | | x | | | | | | x | | | [added: | | |]

| | | | [removed: *4(d)] [added: *4(e)] | | | | | | [Officer's Certificate of Florida Power & Light Company, dated November 14, 2018, creating the Floating Rate Notes, Series due November 14, 2068 (filed as Exhibit 4 to Form 8-K dated November 14, 2018, File No. 2-27612)](https://www.sec.gov/Archives/edgar/data/37634/000075330818000164/exhibit411142018.htm) | | | | | | x | | | | | | x | | | [added: | | |]

| | | | [removed: *4(e)] [added: *4(f)] | | | | | | [Officer's Certificate of Florida Power & Light Company, dated March 27, 2019, creating the Floating Rate Notes, Series due March 27, 2069 (filed as Exhibit 4(b) to Form 8-K dated March 27, 2019, File No. 2-27612)](https://www.sec.gov/Archives/edgar/data/37634/000075330819000106/exhibit4b03272019.htm) | | | | | | x | | | | | | x | | | [added: | | |]

| | | | [removed: *4(f)] [added: *4(g)] | | | | | | [Officer's Certificate of Florida Power & Light Company, dated March 13, 2020, creating the Floating Rate Notes, Series due March 13, 2070 (filed as Exhibit 4 to Form 8-K dated [removed: March 13, 2020,] [added: March](https://www.sec.gov/Archives/edgar/data/37634/000075330820000089/exhibit403132020.htm) [](https://www.sec.gov/Archives/edgar/data/37634/000075330820000089/exhibit403132020.htm)[13,](https://www.sec.gov/Archives/edgar/data/37634/000075330820000089/exhibit403132020.htm) [](https://www.sec.gov/Archives/edgar/data/37634/000075330820000089/exhibit403132020.htm)[2020,] File No. 2-27612)](https://www.sec.gov/Archives/edgar/data/37634/000075330820000089/exhibit403132020.htm) | | | | | | x | | | | | | x | | | [added: | | |]

| | | | [removed: *4(g)] [added: *4(h)] | | | | | | [Officer's Certificate of Florida Power & Light Company, dated August 24, 2020, creating the Floating Rate Notes, Series due August 24, 2070 (filed as Exhibit 4 to Form 8-K dated [removed: August 24, 2020,] [added: August](https://www.sec.gov/Archives/edgar/data/37634/000075330820000158/exhibit408242020.htm) [](https://www.sec.gov/Archives/edgar/data/37634/000075330820000158/exhibit408242020.htm)[24,](https://www.sec.gov/Archives/edgar/data/37634/000075330820000158/exhibit408242020.htm) [](https://www.sec.gov/Archives/edgar/data/37634/000075330820000158/exhibit408242020.htm)[2020,] File No. 2-27612)](https://www.sec.gov/Archives/edgar/data/37634/000075330820000158/exhibit408242020.htm) | | | | | | x | | | | | | x | | | [added: | | |]

| | | | [removed: *4(h)] [added: *4(i)] | | | | | | [Officer's Certificate of Florida Power & Light Company, dated March 1, 2021, creating the Floating Rate Notes, Series due March 1, 2071 (filed as Exhibit 4 to Form 8-K dated [removed: March 1, 2021,] [added: March](https://www.sec.gov/Archives/edgar/data/753308/000075330821000070/exhibit4tonee-fpl8xkdated0.htm) [](https://www.sec.gov/Archives/edgar/data/753308/000075330821000070/exhibit4tonee-fpl8xkdated0.htm)[1,](https://www.sec.gov/Archives/edgar/data/753308/000075330821000070/exhibit4tonee-fpl8xkdated0.htm) [](https://www.sec.gov/Archives/edgar/data/753308/000075330821000070/exhibit4tonee-fpl8xkdated0.htm)[2021,] File No. [removed: 2-27612)](https://www.sec.gov/Archives/edgar/data/0000753308/000075330821000070/exhibit4tonee-fpl8xkdated0.htm)] [added: 2-27612)](https://www.sec.gov/Archives/edgar/data/753308/000075330821000070/exhibit4tonee-fpl8xkdated0.htm)] | | | | | | x | | | | | | x | | | [added: | | |]

| | | | [removed: *4(i)] [added: *4(j)] | | | | | | [O](https://www.sec.gov/Archives/edgar/data/753308/000075330822000042/exhibit4tonee-fpl8xkdated0.htm)[fficer's Certificate of Florida Power & Light Company, dated June 7, 2022,](https://www.sec.gov/Archives/edgar/data/753308/000075330822000042/exhibit4tonee-fpl8xkdated0.htm) [creating](https://www.sec.gov/Archives/edgar/data/753308/000075330822000042/exhibit4tonee-fpl8xkdated0.htm) [t](https://www.sec.gov/Archives/edgar/data/753308/000075330822000042/exhibit4tonee-fpl8xkdated0.htm)[he](https://www.sec.gov/Archives/edgar/data/753308/000075330822000042/exhibit4tonee-fpl8xkdated0.htm) [Floating Rate Notes, Series due June 15, 20](https://www.sec.gov/Archives/edgar/data/753308/000075330822000042/exhibit4tonee-fpl8xkdated0.htm)[72 (filed as Exhibit 4 to Form 8-K dated [removed: June 7, 2022,] [added: June](https://www.sec.gov/Archives/edgar/data/753308/000075330822000042/exhibit4tonee-fpl8xkdated0.htm) [](https://www.sec.gov/Archives/edgar/data/753308/000075330822000042/exhibit4tonee-fpl8xkdated0.htm)[7,](https://www.sec.gov/Archives/edgar/data/753308/000075330822000042/exhibit4tonee-fpl8xkdated0.htm) [](https://www.sec.gov/Archives/edgar/data/753308/000075330822000042/exhibit4tonee-fpl8xkdated0.htm)[2022,] F](https://www.sec.gov/Archives/edgar/data/753308/000075330822000042/exhibit4tonee-fpl8xkdated0.htm)[ile No](https://www.sec.gov/Archives/edgar/data/753308/000075330822000042/exhibit4tonee-fpl8xkdated0.htm)[. 2-27612)](https://www.sec.gov/Archives/edgar/data/753308/000075330822000042/exhibit4tonee-fpl8xkdated0.htm) | | | | | | x | | | | | | x | | | [added: | | |]

| | | | [removed: *4(j)] [added: *4(k)] | | | | | | [O](https://www.sec.gov/Archives/edgar/data/37634/000075330823000045/nee-q22023xex4b.htm)[fficer's Cer](https://www.sec.gov/Archives/edgar/data/37634/000075330823000045/nee-q22023xex4b.htm)[tificate of Florida Power & Light Company, dated May 18, 20](https://www.sec.gov/Archives/edgar/data/37634/000075330823000045/nee-q22023xex4b.htm)[23, creating th](https://www.sec.gov/Archives/edgar/data/37634/000075330823000045/nee-q22023xex4b.htm)[e](https://www.sec.gov/Archives/edgar/data/37634/000075330823000045/nee-q22023xex4b.htm) [4.45%](https://www.sec.gov/Archives/edgar/data/37634/000075330823000045/nee-q22023xex4b.htm) [Notes](https://www.sec.gov/Archives/edgar/data/37634/000075330823000045/nee-q22023xex4b.htm)[,](https://www.sec.gov/Archives/edgar/data/37634/000075330823000045/nee-q22023xex4b.htm) [Series due May 15, 20](https://www.sec.gov/Archives/edgar/data/37634/000075330823000045/nee-q22023xex4b.htm)[26](https://www.sec.gov/Archives/edgar/data/37634/000075330823000045/nee-q22023xex4b.htm) [(filed as Exhibit 4(b](https://www.sec.gov/Archives/edgar/data/37634/000075330823000045/nee-q22023xex4b.htm)[) to Form 10-Q](https://www.sec.gov/Archives/edgar/data/37634/000075330823000045/nee-q22023xex4b.htm) [for the quarter ended](https://www.sec.gov/Archives/edgar/data/37634/000075330823000045/nee-q22023xex4b.htm) [](https://www.sec.gov/Archives/edgar/data/37634/000075330823000045/nee-q22023xex4b.htm)[June 30, 2023, File No. 2-27612)](https://www.sec.gov/Archives/edgar/data/37634/000075330823000045/nee-q22023xex4b.htm) | | | | | | x | | | | | | x | | | [added: | | |]

| | | | [removed: *4(k)] [added: *4(l)] | | | | | | [O](https://www.sec.gov/Archives/edgar/data/37634/000075330823000040/exhibit4tonee-fpl8xkdated0.htm)[fficer's Certificate of Flo](https://www.sec.gov/Archives/edgar/data/37634/000075330823000040/exhibit4tonee-fpl8xkdated0.htm)[rid](https://www.sec.gov/Archives/edgar/data/37634/000075330823000040/exhibit4tonee-fpl8xkdated0.htm)[a Power & Light Company, dated June 20, 2023, creating the Floa](https://www.sec.gov/Archives/edgar/data/37634/000075330823000040/exhibit4tonee-fpl8xkdated0.htm)[ting Rate N](https://www.sec.gov/Archives/edgar/data/37634/000075330823000040/exhibit4tonee-fpl8xkdated0.htm)[otes, Series due June 20, 20](https://www.sec.gov/Archives/edgar/data/37634/000075330823000040/exhibit4tonee-fpl8xkdated0.htm)[73 (filed as Exhibit 4 to Form 8-K dated [removed: June 20, 2023,] [added: June](https://www.sec.gov/Archives/edgar/data/37634/000075330823000040/exhibit4tonee-fpl8xkdated0.htm) [](https://www.sec.gov/Archives/edgar/data/37634/000075330823000040/exhibit4tonee-fpl8xkdated0.htm)[20,](https://www.sec.gov/Archives/edgar/data/37634/000075330823000040/exhibit4tonee-fpl8xkdated0.htm) [](https://www.sec.gov/Archives/edgar/data/37634/000075330823000040/exhibit4tonee-fpl8xkdated0.htm)[2023,] File No.](https://www.sec.gov/Archives/edgar/data/37634/000075330823000040/exhibit4tonee-fpl8xkdated0.htm) [2-27612)](https://www.sec.gov/Archives/edgar/data/37634/000075330823000040/exhibit4tonee-fpl8xkdated0.htm) | | | | | | x | | | | | | x | | | [added: | | |]

| | | | [removed: *4(l)] [added: *4(m)] | | | | | | [Officer's Certificate of Florida Power & Light Company, dated July 1, 2024, creating the Floating Rate Notes, Series due July 2, 2074 (filed as Exhibit 4(f) to Form 10-Q for the quarter ended June 30, 2024, File No. 2-27612)](https://www.sec.gov/Archives/edgar/data/37634/000075330824000050/nee-q22024xex4f.htm) | | | | | | x | | | | | | x | | | [added: | | |]

| | | | [removed: *4(m)] [added: *4(n)] | | | | | | [Indenture (For Unsecured Debt Securities), dated as of June 1, 1999, between FPL Group Capital Inc and The Bank of New York Mellon](https://www.sec.gov/Archives/edgar/data/753308/000075330899000027/0000753308-99-000027.txt) [](https://www.sec.gov/Archives/edgar/data/753308/000075330899000027/0000753308-99-000027.txt)[(](https://www.sec.gov/Archives/edgar/data/753308/000075330899000027/0000753308-99-000027.txt)[as Trustee](https://www.sec.gov/Archives/edgar/data/753308/000075330899000027/0000753308-99-000027.txt)[)](https://www.sec.gov/Archives/edgar/data/753308/000075330899000027/0000753308-99-000027.txt) [(filed as Exhibit 4(a) to Form 8-K dated July 16, 1999, File No. 1-8841)](https://www.sec.gov/Archives/edgar/data/753308/000075330899000027/0000753308-99-000027.txt) | | | | | | x | | | | | | | | | [added: | | |]

| | | | [removed: *4(n)] [added: *4(o)] | | | | | | [First Supplemental Indenture to Indenture (For Unsecured Debt Securities) dated as of June 1, 1999, dated as of September 21, 2012, between NextEra Energy Capital Holdings, Inc. and The Bank of New York Mellon, as Trustee (filed as Exhibit 4(e) to Form 10-Q for the quarter ended September 30, 2012, File No. 1-8841)](https://www.sec.gov/Archives/edgar/data/37634/000075330812000118/ex4e.htm) | | | | | | x | | | | | | | | | [added: | | |]

| | | | [removed: *4(o)] [added: *4(p)] | | | | | | [Guarantee Agreement, dated as of June 1, 1999, between FPL Group, Inc. (as Guarantor) and The Bank of New York Mellon (as Guarantee Trustee) (filed as Exhibit 4(b) to Form 8-K dated July 16, 1999, File No. 1-8841)](https://www.sec.gov/Archives/edgar/data/753308/000075330899000027/0000753308-99-000027.txt) | | | | | | x | | | | | | | | | [added: | | |]

| | | | [removed: *4(p)] [added: *4(q)] | | | | | | [Officer's Certificate of NextEra Energy Capital Holdings, Inc., dated April 28, 2017, creating the 3.55% Debentures, Series due May 1, 2027 (filed as Exhibit 4 to Form 8-K dated [removed: April 28, 2017,] [added: April](https://www.sec.gov/Archives/edgar/data/753308/000075330817000083/exhibit404282017.htm) [](https://www.sec.gov/Archives/edgar/data/753308/000075330817000083/exhibit404282017.htm)[28,](https://www.sec.gov/Archives/edgar/data/753308/000075330817000083/exhibit404282017.htm) [](https://www.sec.gov/Archives/edgar/data/753308/000075330817000083/exhibit404282017.htm)[2017,] File No. 1-8841)](https://www.sec.gov/Archives/edgar/data/753308/000075330817000083/exhibit404282017.htm) | | | | | | x | | | | | | | | | [added: | | |]

| | | | [removed: *4(q)] [added: *4(r)] | | | | | | [Officer's Certificate of NextEra Energy Capital Holdings, Inc., dated April 4, 2019, creating the 3.50% Debentures, Series due April 1, 2029 (filed as Exhibit 4(d) to Form 8-K dated [removed: April 4, 2019,] [added: April](https://www.sec.gov/Archives/edgar/data/753308/000075330819000111/exhibit4d04042019.htm) [](https://www.sec.gov/Archives/edgar/data/753308/000075330819000111/exhibit4d04042019.htm)[4,](https://www.sec.gov/Archives/edgar/data/753308/000075330819000111/exhibit4d04042019.htm) [](https://www.sec.gov/Archives/edgar/data/753308/000075330819000111/exhibit4d04042019.htm)[2019,] File No. 1-8841)](https://www.sec.gov/Archives/edgar/data/753308/000075330819000111/exhibit4d04042019.htm) | | | | | | x | | | | | | | | | [added: | | |]

| | | | [removed: *4(r)] [added: *4(s)] | | | | | | [Officer's Certificate of NextEra Energy Capital Holdings, Inc., dated October 3, 2019, creating the 2.75% Debentures, Series due November 1, 2029 (filed as Exhibit 4 to Form 8-K dated October 3, 2019, File No. 1-8841)](https://www.sec.gov/Archives/edgar/data/753308/000075330819000195/exhibit410032019.htm) | | | | | | x | | | | | | | | | [added: | | |]

| | | | [removed: *4(s)] [added: *4(rr)] | | | | | | [Officer's Certificate of NextEra Energy Capital Holdings, Inc., dated February [removed: 21, 2020,] [added: 4, 2025,] creating the [added: 5.](https://www.sec.gov/Archives/edgar/data/37634/000075330825000011/nee-q42024xex4ww.htm)[90](https://www.sec.gov/Archives/edgar/data/37634/000075330825000011/nee-q42024xex4ww.htm)[% Debentures,] Series [removed: K Debentures] due March [removed: 1, 2025 (filed] [added: 15, 20](https://www.sec.gov/Archives/edgar/data/37634/000075330825000011/nee-q42024xex4ww.htm)[5](https://www.sec.gov/Archives/edgar/data/37634/000075330825000011/nee-q42024xex4ww.htm)[5](https://www.sec.gov/Archives/edgar/data/37634/000075330825000011/nee-q42024xex4ww.htm) [(filed] as Exhibit [removed: 4(c)] [added: 4(](https://www.sec.gov/Archives/edgar/data/37634/000075330825000011/nee-q42024xex4ww.htm)[ww](https://www.sec.gov/Archives/edgar/data/37634/000075330825000011/nee-q42024xex4ww.htm)[)] to Form [removed: 10-Q] [added: 10-K] for the [removed: quarter] [added: year] ended [removed: March] [added: December] 31, [removed: 2020,] [added: 2024,] File No. [removed: 1-8841)](https://www.sec.gov/Archives/edgar/data/37634/000075330820000113/nee-q12020ex4c.htm)] [added: 1-8841)](https://www.sec.gov/Archives/edgar/data/37634/000075330825000011/nee-q42024xex4ww.htm)] | | | | | | x | | | | | | | | | [added: | | |]

| | | | [removed: *4(t)] [added: *4(cc)] | | | | | | [removed: [Letter,] [added: [L](https://www.sec.gov/Archives/edgar/data/753308/000075330825000043/exhibit4btoneedated08x01x2.htm)[etter,] dated [removed: March 1, 2023,] [added: August](https://www.sec.gov/Archives/edgar/data/753308/000075330825000043/exhibit4btoneedated08x01x2.htm) [1, 2025,] from NextEra [removed: Energy] [added: E](https://www.sec.gov/Archives/edgar/data/753308/000075330825000043/exhibit4btoneedated08x01x2.htm)[nergy] Capital Holdings, Inc. to The Bank of [removed: New York] [added: New](https://www.sec.gov/Archives/edgar/data/753308/000075330825000043/exhibit4btoneedated08x01x2.htm) [York] Mellon, as [removed: trustee, setting forth] [added: tru](https://www.sec.gov/Archives/edgar/data/753308/000075330825000043/exhibit4btoneedated08x01x2.htm)[stee, setting](https://www.sec.gov/Archives/edgar/data/753308/000075330825000043/exhibit4btoneedated08x01x2.htm) [forth] certain terms of the Series [removed: K] [added: M] Debentures due [removed: March] [added: September] 1, [removed: 2025] [added: 2027] effective [removed: March] [added: August] 1, [removed: 2023] [added: 2025] (filed as [removed: Exhibit] [added: Ex](https://www.sec.gov/Archives/edgar/data/753308/000075330825000043/exhibit4btoneedated08x01x2.htm)[hibit] 4(b) to Form 8-K dated [removed: March] [added: August] 1, [removed: 2023,] [added: 2025,] File No. [removed: 1-8841)](https://www.sec.gov/Archives/edgar/data/753308/000075330823000021/exhibit4btoneedated03x01x2.htm)] [added: 1-8841)](https://www.sec.gov/Archives/edgar/data/753308/000075330825000043/exhibit4btoneedated08x01x2.htm)] | | | | | | x | | | | | | | | | [added: | | |]

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| | | | 4(b) | | | | | | [O](https://www.sec.gov/Archives/edgar/data/753308/000075330826000015/nee-q42025xex4b.htm)[ne Hundred F](https://www.sec.gov/Archives/edgar/data/753308/000075330826000015/nee-q42025xex4b.htm)[ortieth Supplemental Indenture dated as of December 1, 2025 between Florida Power & Light Company and Deutsche Bank Trus](https://www.sec.gov/Archives/edgar/data/753308/000075330826000015/nee-q42025xex4b.htm)[t Company Americas, Trustee](https://www.sec.gov/Archives/edgar/data/753308/000075330826000015/nee-q42025xex4b.htm) | | | | | | x | | | | | | x | | | | | |

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| | | | *4(oo) | | | | | | [Officer's Certificate of NextEra Energy](https://www.sec.gov/Archives/edgar/data/37634/000075330825000011/nee-q42024xex4tt.htm) [Capital](https://www.sec.gov/Archives/edgar/data/37634/000075330825000011/nee-q42024xex4tt.htm) [Holdings, Inc., dated February](https://www.sec.gov/Archives/edgar/data/37634/000075330825000011/nee-q42024xex4tt.htm) [4,](https://www.sec.gov/Archives/edgar/data/37634/000075330825000011/nee-q42024xex4tt.htm) [2025, creating](https://www.sec.gov/Archives/edgar/data/37634/000075330825000011/nee-q42024xex4tt.htm) [the 5.05% Debentures, Series due March](https://www.sec.gov/Archives/edgar/data/37634/000075330825000011/nee-q42024xex4tt.htm) [15, 2030](https://www.sec.gov/Archives/edgar/data/37634/000075330825000011/nee-q42024xex4tt.htm) [(filed as Exhibit 4(tt) to Form 10-K f](https://www.sec.gov/Archives/edgar/data/37634/000075330825000011/nee-q42024xex4tt.htm)[or the year ended December 31, 2024, File No. 1-8841)](https://www.sec.gov/Archives/edgar/data/37634/000075330825000011/nee-q42024xex4tt.htm) | | | | | | x | | | | | | | | | | | |

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| | | | *4(tt) | | | | | | [O](https://www.sec.gov/Archives/edgar/data/37634/000075330825000040/nee-q22025xex4b.htm)[fficer's Certificate of NextEra Energy Cap](https://www.sec.gov/Archives/edgar/data/37634/000075330825000040/nee-q22025xex4b.htm)[ital Holdings, Inc](https://www.sec.gov/Archives/edgar/data/37634/000075330825000040/nee-q22025xex4b.htm)[., dated June](https://www.sec.gov/Archives/edgar/data/37634/000075330825000040/nee-q22025xex4b.htm) [12, 2025, creating the 3.83% Debentures,](https://www.sec.gov/Archives/edgar/data/37634/000075330825000040/nee-q22025xex4b.htm) [Series due June 12, 2030 (filed as E](https://www.sec.gov/Archives/edgar/data/37634/000075330825000040/nee-q22025xex4b.htm)[xhibit 4(b) to Form 10-Q for the quarter ended June 30, 2025, File](https://www.sec.gov/Archives/edgar/data/37634/000075330825000040/nee-q22025xex4b.htm) [No. 1-8841)](https://www.sec.gov/Archives/edgar/data/37634/000075330825000040/nee-q22025xex4b.htm) | | | | | | x | | | | | | | | | | | |

| | | | *4(uu) | | | | | | [O](https://www.sec.gov/Archives/edgar/data/37634/000075330825000040/nee-q22025xex4c.htm)[fficer's Certificate](https://www.sec.gov/Archives/edgar/data/37634/000075330825000040/nee-q22025xex4c.htm) [of NextEra Energy](https://www.sec.gov/Archives/edgar/data/37634/000075330825000040/nee-q22025xex4c.htm) [Capital Holdings, I](https://www.sec.gov/Archives/edgar/data/37634/000075330825000040/nee-q22025xex4c.htm)[nc., dated June 12, 202](https://www.sec.gov/Archives/edgar/data/37634/000075330825000040/nee-q22025xex4c.htm)[5](https://www.sec.gov/Archives/edgar/data/37634/000075330825000040/nee-q22025xex4c.htm) [creating the 4.67% Debentures, Series d](https://www.sec.gov/Archives/edgar/data/37634/000075330825000040/nee-q22025xex4c.htm)[ue June 12, 2035 (filed as](https://www.sec.gov/Archives/edgar/data/37634/000075330825000040/nee-q22025xex4c.htm) [Exhibit 4](https://www.sec.gov/Archives/edgar/data/37634/000075330825000040/nee-q22025xex4c.htm)[(c](https://www.sec.gov/Archives/edgar/data/37634/000075330825000040/nee-q22025xex4c.htm)[)](https://www.sec.gov/Archives/edgar/data/37634/000075330825000040/nee-q22025xex4c.htm) [](https://www.sec.gov/Archives/edgar/data/37634/000075330825000040/nee-q22025xex4c.htm)[to Form 10-Q for the quarter ended June 30,](https://www.sec.gov/Archives/edgar/data/37634/000075330825000040/nee-q22025xex4c.htm) [2025, File No. 1-8841)](https://www.sec.gov/Archives/edgar/data/37634/000075330825000040/nee-q22025xex4c.htm) | | | | | | x | | | | | | | | | | | |

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| | | | *10(r) | | | | | | [Form of Non-Qualified Stock Option Agreement under the NextEra Energy, Inc. Amended and Restated 2021 Long Term Incentive Plan (filed as Exhibit 10(c) to Form 10-Q for the quarter ended September 30, 2025, File No, 1-8841)](https://www.sec.gov/Archives/edgar/data/753308/000075330825000056/nee-q32025xex10c.htm) | | | | | | x | | | | | | x | | | | | |

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| | | | 4(uuu) | | | | | | [Purchase Contract Agreement, dated as of October 1, 2024, between NextEra Energy, Inc. and The Bank of New York Mellon, as Purchase Contract Agent](https://www.sec.gov/Archives/edgar/data/753308/000075330825000011/nee-q42024xex4uuu.htm) | | | | | | x | | | | | | | | |

| | | | 4(vvv) | | | | | | [Pledge Agreement, dated as of October 1, 20](https://www.sec.gov/Archives/edgar/data/753308/000075330825000011/nee-q42024xex4vvv.htm)[2](https://www.sec.gov/Archives/edgar/data/753308/000075330825000011/nee-q42024xex4vvv.htm)[4, between NextEra](https://www.sec.gov/Archives/edgar/data/753308/000075330825000011/nee-q42024xex4vvv.htm) [Energy](https://www.sec.gov/Archives/edgar/data/753308/000075330825000011/nee-q42024xex4vvv.htm)[, Inc.](https://www.sec.gov/Archives/edgar/data/753308/000075330825000011/nee-q42024xex4vvv.htm)[,](https://www.sec.gov/Archives/edgar/data/753308/000075330825000011/nee-q42024xex4vvv.htm) [Deutsche Bank Trust Company](https://www.sec.gov/Archives/edgar/data/753308/000075330825000011/nee-q42024xex4vvv.htm) [Americas, as Collateral Agent, Custo](https://www.sec.gov/Archives/edgar/data/753308/000075330825000011/nee-q42024xex4vvv.htm)[dial Agent and Securities Intermediary, and the Bank of New York Mellon, as](https://www.sec.gov/Archives/edgar/data/753308/000075330825000011/nee-q42024xex4vvv.htm) [Purchase Contract Agent](https://www.sec.gov/Archives/edgar/data/753308/000075330825000011/nee-q42024xex4vvv.htm) | | | | | | x | | | | | | | | |

Date: February [removed: 14, 2025][added: 13, 2026]

Signature and Title as of February [removed: 14, 2025:][added: 13, 2026:]

| [removed: Brian W. Bolster] [added: Michael H. Dunne] Executive Vice President, Finance and Chief Financial Officer (Principal Financial Officer) | | | | | | [removed: James M. May] [added: William J. Gough] Vice President, Controller and Chief Accounting Officer (Principal Accounting Officer) | | |

| Armando Pimentel, Jr. [removed: President and] Chief Executive Officer and Director (Principal Executive Officer) | | |

| [removed: Brian W. Bolster] [added: Michael H. Dunne] Executive Vice President, Finance and Chief Financial Officer and Director (Principal Financial Officer) | | | | | | [removed: Keith Ferguson] [added: Amin A. Mohomed] Vice President, [added: FPL] Accounting and Controller (Principal Accounting Officer) | | |

No annual report, proxy statement, form of proxy or other proxy soliciting material has been sent to security holders of FPL during the period covered by this Annual Report on Form 10-K for the fiscal year ended December 31, [removed: 2024.][added: 2025.]

| MICHAEL H. DUNNE | | | | | | WILLIAM J. GOUGH | | |

Date: February 13, 2026

Signature and Title as of February 13, 2026:

| MICHAEL H. DUNNE | | | | | | AMIN A. MOHOMED | | |

| BRIAN W. BOLSTER | | | | | | JAMES M. MAY | | |

| BRIAN W. BOLSTER | | | | | | KEITH FERGUSON | | |