FLORIDA POWER & LIGHT CO

Previous wording

(a) For the three months ended June 30, 2026 and 2025, approximately $215 million of gains and $161 million of losses, respectively, and for the six months ended June 30, 2026 and 2025, approximately $245 million of gains and $206 million of losses, respectively, are included in NEER's net income; the remaining balance is included in Corporate and Other. The change in non-qualifying hedge activity is primarily attributable to changes in forward power and natural gas prices, interest rates and foreign currency exchange rates, as well as the reversal of previously recognized unrealized mark-to-market gains or losses as the underlying transactions were realized.

Current wording

(a) For the three months ended September 30, 2026 and 2025, approximately $288 million and $135 million of gains, respectively, and for the nine months ended September 30, 2026 and 2025, approximately $532 million of gains and $71 million of losses, respectively, are included in NEER's net income; the remaining balance is included in Corporate and Other. The change in non-qualifying hedge activity is primarily attributable to changes in forward power and natural gas prices, interest rates and foreign currency exchange rates, as well as the reversal of previously recognized unrealized mark-to-market gains or losses as the underlying transactions were realized.

Previous wording

(b) The six months ended June 30, 2025 includes an impairment charge related to the investment in XPLR. See Note 3 – Nonrecurring Fair Value Measurements.

Current wording

(b) The nine months ended September 30, 2025 includes an impairment charge related to the investment in XPLR. See Note 3 – Nonrecurring Fair Value Measurements.

Previous wording

NEE segregates into two categories unrealized mark-to-market gains and losses and timing impacts related to derivative transactions. The first category, referred to as non-qualifying hedges, represents certain energy derivative, interest rate derivative and foreign currency transactions entered into as economic hedges, which do not meet the requirements for hedge accounting, or for which hedge accounting treatment is not elected or has been discontinued. Changes in the fair value of those transactions are marked to market and reported in the condensed consolidated statements of income, resulting in earnings volatility because the economic offset to certain of the positions are generally not marked to market. As a consequence, NEE's net income reflects only the movement in one part of economically-linked transactions. For example, a gain (loss) in the non-qualifying hedge category for certain energy derivatives is offset by decreases (increases) in the fair value of related physical asset positions in the portfolio or contracts, which are not marked to market under GAAP. For this reason, NEE's management views results expressed excluding the impact of the non-qualifying hedges as a meaningful measure of current period performance. The second category, referred to as trading activities, which is included in adjusted earnings, represents the net unrealized effect of actively traded positions entered into to take advantage of expected market price movements and all other commodity hedging activities. At FPL, substantially all changes in the fair value of energy derivative transactions are deferred as a regulatory asset or liability until the contracts are settled, and, upon settlement, any gains or losses are passed through the fuel clause or base rates. See Note 2.

Current wording

NEE segregates into two categories unrealized mark-to-market gains and losses and timing impacts related to derivative transactions. The first category, referred to as non-qualifying hedges, represents certain energy derivative, interest rate derivative and foreign currency transactions entered into as economic hedges, which do not meet the requirements for hedge accounting, or for which hedge accounting treatment is not elected or has been discontinued. Changes in the fair value of those transactions are marked to market and reported in the condensed consolidated statements of income, resulting in earnings volatility because the economic offset to certain of the positions are generally not marked to market. As a consequence, NEE's net income reflects only the movement in one part of economically-linked transactions. For example, a gain (loss) in the non-qualifying hedge category for certain energy derivatives is offset by decreases (increases) in the fair value of related physical asset positions in the portfolio or contracts, which are not marked to market under GAAP. For this reason, NEE's management views results expressed excluding the impact of the non-qualifying hedges as a meaningful measure of current period performance. The second category, referred to as trading activities, which is included in adjusted earnings, represents the net unrealized effect of actively traded positions entered into to take advantage of expected market price movements and all other commodity hedging activities. At FPL, changes in the fair value of energy derivative transactions are deferred as a regulatory asset or liability until the contracts are settled, and, upon settlement, any gains or losses are passed through the fuel clause or base rates. See Note 2.

Previous wording

Net income attributable to NEE increased $1,116 million and $2,464 million for the three and six months ended June 30, 2026, respectively, reflecting higher results at FPL, NEER and Corporate and Other.

Current wording

Net income attributable to NEE increased $2,337 million and $4,802 million for the three and nine months ended September 30, 2026, respectively, reflecting higher results at FPL, NEER and Corporate and Other.

Previous wording

FPL's increase in net income for the three and six months ended June 30, 2026 was primarily driven by continued investments in plant in service and other property.

Current wording

FPL's increase in net income for the three and nine months ended September 30, 2026 was primarily driven by continued investments in plant in service and other property.

Previous wording

NEER's results increased for the three months ended June 30, 2026 primarily reflecting favorable non-qualifying hedge activity compared to 2025 and higher earnings from new investments. NEER's results increased for the six months ended June 30, 2026 primarily reflecting the absence of an impairment charge related to the investment in XPLR recorded in 2025, favorable non-qualifying hedge activity compared to 2025 and higher earnings from new investments.

Current wording

NEER's results increased for the three months ended September 30, 2026 primarily reflecting higher earnings from new investments and existing energy assets as well as favorable non-qualifying hedge activity compared to 2025. NEER's results increased for the nine months ended September 30, 2026 primarily reflecting the absence of an impairment charge related to the investment in XPLR recorded in 2025, favorable non-qualifying hedge activity compared to 2025 and higher earnings from new investments.

Previous wording

Corporate and Other's results increased for the three and six months ended June 30, 2026 primarily due to favorable non-qualifying hedge activity compared to 2025, partly offset by higher interest expense driven by higher average debt balances.

Current wording

Corporate and Other's results increased for the three and nine months ended September 30, 2026 primarily due to favorable non-qualifying hedge activity compared to 2025, partly offset by higher interest expense driven by higher average debt balances.

Previous wording

NEE's effective income tax rates for the three months ended June 30, 2026 and 2025 were approximately (3)% and (19)%, respectively, and for the six months ended June 30, 2026 and 2025 were (15)% and (59)%, respectively. See Note 4 for a discussion of NEE's and FPL's effective income tax rates.

Current wording

NEE's effective income tax rates for the three months ended September 30, 2026 and 2025 were approximately 13% and (13)%, respectively, and for the nine months ended September 30, 2026 and 2025 were 1% and (32)%, respectively. See Note 4 for a discussion of NEE's and FPL's effective income tax rates.

Previous wording

In May 2026, NEE and Dominion Energy entered into a merger agreement. See Note 5 – Proposed Business Combination.

Current wording

In May 2026, NEE and Dominion Energy entered into a merger agreement. See Note 5 – Pending Business Combination.

Previous wording

FPL's net income increased $137 million and $283 million for the three and six months ended June 30, 2026, respectively. Investments in plant in service and other property grew FPL's average rate base by approximately $6.8 billion and $6.6 billion for the three and six months ended June 30, 2026, respectively, when compared to the same periods in the prior year, reflecting, among other things, solar generation additions and ongoing transmission and distribution additions.

Current wording

FPL's net income increased $157 million and $439 million for the three and nine months ended September 30, 2026, respectively. Investments in plant in service and other property grew FPL's average rate base by approximately $6.8 billion and $6.6 billion for the three and nine months ended September 30, 2026, respectively, when compared to the same periods in the prior year, reflecting, among other things, solar generation additions and ongoing transmission and distribution additions.

Previous wording

The use of RSM for the three and six months ended June 30, 2026 is permitted by the 2025 rate agreement, and, for the prior year periods, the use of reserve amortization was permitted by the 2021 rate agreement. The RSM reserve, which is authorized up to approximately $1.5 billion, after tax, over the term of the 2025 rate agreement, includes ITC amortization for battery storage projects placed in service in 2025, the remaining balance from FPL's previous reserve amortization mechanism as of January 1, 2026 and certain amounts related to deferred tax liabilities.

Current wording

The use of RSM for the three and nine months ended September 30, 2026 is permitted by the 2025 rate agreement, and, for the prior year periods, the use of reserve amortization was permitted by the 2021 rate agreement. The RSM reserve, which is authorized up to approximately $1.5 billion, after tax, over the term of the 2025 rate agreement, includes ITC amortization for battery storage projects placed in service in 2025, the remaining balance from FPL's previous reserve amortization mechanism as of January 1, 2026 and certain amounts related to deferred tax liabilities.

Previous wording

During the three months ended June 30, 2026, FPL recorded the reversal of RSM amortization of approximately $110 million, after tax, reflecting the reversal of reserve amortization in accordance with the 2025 rate agreement. During the six months ended June 30, 2026, FPL recorded RSM amortization of approximately $196 million, after tax, reflecting ITC and reserve amortization in accordance with the 2025 rate agreement. During the three and six months ended June 30, 2025, FPL recorded pre-tax reserve amortization of approximately $19 million and $641 million, respectively. See Depreciation and Amortization Expense and Income Taxes below. FPL earned a regulatory ROE of approximately 11.70% and 11.60% on its retail rate base, based on a trailing thirteen-month average retail rate base as of June 30, 2026 and June 30, 2025, respectively.

Current wording

During the three months ended September 30, 2026, FPL recorded the reversal of RSM amortization of approximately $172 million, after tax, reflecting the reversals of ITC and reserve amortization in accordance with the 2025 rate agreement. During the nine months ended September 30, 2026, FPL recorded RSM amortization of approximately $24 million, after tax, reflecting ITC amortization in accordance with the 2025 rate agreement. During the three and nine months ended September 30, 2025, FPL recorded the reversal of pre-tax reserve amortization of approximately $218 million and pre-tax reserve amortization of $423 million, respectively. See Depreciation and Amortization Expense and Income Taxes below. FPL earned a regulatory ROE of approximately 11.80% and 11.70% on its retail rate base, based on a trailing thirteen-month average retail rate base as of September 30, 2026 and September 30, 2025, respectively.

Previous wording

During the three and six months ended June 30, 2026, operating revenues increased $188 million and $462 million, respectively.

Current wording

During the three and nine months ended September 30, 2026, operating revenues increased $136 million and $599 million, respectively.

Previous wording

Retail base revenues during the three and six months ended June 30, 2026 increased by approximately $276 million and $561 million, respectively, reflecting additional revenues of $251 million and $451 million, respectively, related to new retail base rates under the 2025 rate agreement. Retail base revenues for the three and six months ended June 30, 2026 were also impacted by increases of approximately 1.5% and 1.6%, respectively, in the average number of customer accounts, partly offset by decreases of 1.2% and 0.1%, respectively, in the average usage per retail customer when compared to the prior year periods.

Current wording

Retail base revenues during the three and nine months ended September 30, 2026 increased by approximately $368 million and $928 million, respectively, reflecting additional revenues of $281 million and $732 million, respectively, related to new retail base rates under the 2025 rate agreement. Retail base revenues for the three and nine months ended September 30, 2026 were also impacted by increases of approximately 1.4% and 1.5%, respectively, in the average number of customer accounts, and by increases of 1.4% and 0.6%, respectively, in the average usage per retail customer driven by favorable weather when compared to the prior year periods.

Previous wording

The increase in operating revenues for the three and six months ended June 30, 2026 also reflects increases in fuel revenues of approximately $137 million and $207 million, respectively, and increases in storm protection plan cost recovery clause revenues of $47 million and $108 million, respectively. The increase in operating revenues for the three and six months ended June 30, 2026 was partly offset by decreases in storm cost recovery revenues of approximately $309 million and $556 million, respectively, primarily associated with the completion of surcharges for Hurricanes Debby, Helene and Milton, as discussed above.

Current wording

The increase in operating revenues for the three and nine months ended September 30, 2026 also reflects increases in fuel revenues of approximately $155 million and $361 million, respectively, and for the nine months ended September 30, 2026, an increase in storm protection plan cost recovery clause revenues of $153 million. The increase in operating revenues for the three and nine months ended September 30, 2026 was partly offset by decreases in storm cost recovery revenues of approximately $452 million and $1,009 million, respectively, primarily associated with the completion of surcharges for Hurricanes Debby, Helene and Milton, as discussed above.

Previous wording

Fuel, purchased power and interchange expense increased $133 million during the three months ended June 30, 2026 primarily reflecting higher net recognition of previously deferred fuel costs, partly offset by lower fuel prices as compared to the prior year period. Fuel, purchased power and interchange expense increased $190 million during the six months ended June 30, 2026 primarily reflecting higher usage and higher net recognition of previously deferred fuel costs as compared to the prior year period.

Current wording

Fuel, purchased power and interchange expense increased $153 million during the three months ended September 30, 2026 primarily reflecting higher usage and higher net recognition of previously deferred fuel costs as compared to the prior year period. Fuel, purchased power and interchange expense increased $343 million during the nine months ended September 30, 2026 primarily reflecting higher usage and higher net recognition of previously deferred fuel costs as compared to the prior year period.

Previous wording

Depreciation and amortization expense decreased $51 million during the three months ended June 30, 2026 primarily driven by lower amortization of deferred storm costs of approximately $309 million primarily associated with the completion of the surcharges related to Hurricanes Debby, Helene and Milton, as discussed above. This decrease was partly offset by the impact of the reversal of RSM amortization (reserve amortization in 2025) as well as higher plant in service balances. During the three months ended June 30, 2026, FPL recorded the reversal of pre-tax RSM amortization of approximately $147 million compared to reserve amortization of $19 million during the three months ended June 30, 2025.

Current wording

Depreciation and amortization expense decreased $510 million during the three months ended September 30, 2026 primarily driven by lower amortization of deferred storm costs of approximately $452 million primarily associated with the completion of the surcharges related to Hurricanes Debby, Helene and Milton, as discussed above, as well as by the impact of the reversal of RSM amortization (reserve amortization in 2025). During the three months ended September 30, 2026, FPL recorded the reversal of pre-tax RSM amortization of approximately $62 million compared to reversal of reserve amortization of $218 million during the three months ended September 30, 2025. The decrease in depreciation and amortization expense during the three months ended September 30, 2026 was partly offset by higher plant in service balances.

Previous wording

Depreciation and amortization expense increased $206 million during the six months ended June 30, 2026 primarily reflecting the impact of lower RSM amortization (reserve amortization in 2025) as well as higher plant in service balances. During the six months ended June 30, 2026 and 2025, FPL recorded pre-tax RSM amortization (reserve amortization in 2025) of approximately $62 million and $641 million, respectively. The increase in depreciation and amortization expense during the six months ended June 30, 2026 is partly offset by approximately $556 million of lower amortization of deferred storm costs primarily associated with the completion of the surcharges related to Hurricanes Debby, Helene and Milton, as discussed above.

Current wording

Depreciation and amortization expense decreased $305 million during the nine months ended September 30, 2026 primarily driven by lower amortization of deferred storm costs of approximately $1,009 million primarily associated with the completion of the surcharges related to Hurricanes Debby, Helene and Milton, as discussed above. The decrease was partly offset by the impact of RSM amortization (reserve amortization in 2025) as well as higher plant in service balances. During the nine months ended September 30, 2026 and 2025, FPL recorded no pre-tax RSM amortization and reserve amortization of approximately $423 million, respectively.

Previous wording

For the three and six months ended June 30, 2026, in order to achieve the targeted regulatory ROE, the use or reversal of RSM amortization is permitted by the 2025 rate agreement, and in the prior-year periods, the use of reserve amortization was permitted by the 2021 rate agreement. See Note 11 – Rate Regulation.

Current wording

For the three and nine months ended September 30, 2026, in order to achieve the targeted regulatory ROE, the use or reversal of RSM amortization is permitted by the 2025 rate agreement, and in the prior-year periods, the use or reversal of reserve amortization was permitted by the 2021 rate agreement. See Note 11 – Rate Regulation.

Previous wording

During the six months ended June 30, 2026, FPL’s income taxes decreased $276 million primarily related to approximately $150 million of ITC amortization, utilized as part of the RSM, as well as higher clean energy tax credits as compared to the prior year period. As of June 30, 2026, approximately $1.335 billion, after tax, of total RSM reserve remains available under the 2025 rate agreement. See Note 11 – Rate Regulation and Note 4.

Current wording

During the three months ended September 30, 2026, FPL’s income taxes increased $277 million primarily related to the reversal of approximately $126 million of ITC amortization, reversed as part of the RSM, as well as higher pretax income. As of September 30, 2026, approximately $1.5 billion, after tax, of total RSM reserve remains available under the 2025 rate agreement. See Note 11 – Rate Regulation and Note 4.

Previous wording

NEER’s results increased $651 million and$1,498 million for the three and six months ended June 30, 2026, respectively. The primary drivers, on an after-tax basis, of the changes are in the following table.

Current wording

NEER’s results increased $216 million and$1,713 million for the three and nine months ended September 30, 2026, respectively. The primary drivers, on an after-tax basis, of the changes are in the following table.

Previous wording

(a) Reflects after-tax project contributions, including the net effect of deferred income taxes and other benefits associated with clean energy tax credits for wind, solar and battery storage projects, as applicable, but excludes allocation of financing costs and corporate general and administrative expenses, except for an allocated credit support charge related to guarantees issued to conduct business activities. Results from projects and regulated gas transmission assets are included in new investments during the first twelve months of operation or ownership. Project results, including repowered wind projects, and regulated gas transmission assets results are included in existing clean energy beginning with the thirteenth month of operation or ownership.

Current wording

(a) Reflects after-tax project contributions, including the net effect of deferred income taxes and other benefits associated with clean energy tax credits, as applicable, and fees earned from MCOAs but excludes allocation of financing costs and corporate general and administrative expenses, except for an allocated credit support charge related to guarantees issued to conduct business activities. Results from projects are included in new investments during the first twelve months of operation or ownership and fees from MCOAs are included in new investments during the first twelve months such fees are earned. Project results, including repowered wind projects, and fees from MCOAs are included in existing energy assets beginning with the thirteenth month of operation or ownership and of fees earned, respectively.

Previous wording

Results from new investments for the three and six months ended June 30, 2026 increased primarily due to higher earnings related to new wind and solar generation.

Current wording

Results from new investments for the three and nine months ended September 30, 2026 increased primarily due to higher earnings related to new wind and solar generation, as well as fees earned from MCOAs.

Previous wording

•the impact of non-qualifying commodity hedges due primarily to changes in energy prices (approximately $188 million of gains for the three months ended June 30, 2026 compared to $175 million of losses for the comparable period in 2025); and

Current wording

•the impact of non-qualifying commodity hedges due primarily to changes in energy prices (approximately $121 million of losses for the three months ended September 30, 2026 compared to $259 million of gains for the comparable period in 2025);

Previous wording

•revenues from new investments of $213 million.

Current wording

•revenues from new investments of $296 million.

Previous wording

•revenues from new investments of approximately $394 million;

Current wording

•revenues from new investments of approximately $695 million; and

Previous wording

•revenues of $119 million from higher generation at other peak generation facilities, driven by favorable weather.

Current wording

•higher revenues from existing energy assets of $190 million primarily related to higher generation at certain peak generation facilities driven by favorable weather;

Previous wording

•the impact of non-qualifying commodity hedges due primarily to changes in energy prices ($198 million of gains for the six months ended June 30, 2026 compared to $13 million of gains for the comparable period in 2025); and

Current wording

•the impact of non-qualifying commodity hedges due primarily to changes in energy prices (approximately $77 million of gains for the nine months ended September 30, 2026 compared to $272 million of gains for the comparable period in 2025).

Previous wording

Operating expenses – net for the three months ended June 30, 2026 increased $331 million primarily due to increases of $221 million in O&M expense and $57 million in fuel, purchased power and interchange expense. Operating expenses – net for the six months ended June 30, 2026 increased $672 million primarily due to increases of $432 million in O&M expense and $165 million in fuel, purchased power and interchange expense. The increases for both periods were primarily associated with growth across the NEER businesses.

Current wording

Operating expenses – net for the three months ended September 30, 2026 increased $200 million primarily due to an increase of $123 million in fuel, purchased power and interchange expense. Operating expenses – net for the nine months ended September 30, 2026 increased $870 million primarily due to increases of $431 million in O&M expense and $288 million in fuel, purchased power and interchange expense. The increases for both periods were primarily associated with growth across the NEER businesses.

Previous wording

Gains on disposal of businesses/assets – net for the six months ended June 30, 2026 increased $195 million primarily as a result of the sale of ownership interests in a transmission asset. See Note 11 – Disposal of a Business.

Current wording

Gains on disposal of businesses/assets – net for the nine months ended September 30, 2026 primarily reflect the sale of ownership interests in a transmission asset. See Note 11 – Disposal of a Business.

Previous wording

NEER’s interest expense for the six months ended June 30, 2026 decreased $127 million primarily reflecting approximately $321 million of favorable impacts related to changes in the fair value of interest rate derivative instruments, partly offset by higher average debt balances as well as a loss on extinguishment of debt as a result of the sale of ownership interests in a transmission asset (see Note 11 – Disposal of a Business).

Current wording

NEER’s interest expense for the three months ended September 30, 2026 decreased $454 million primarily reflecting approximately $497 million of favorable impacts related to changes in the fair value of interest rate derivative instruments, partly offset by higher interest expense driven by higher average debt balances. NEER’s interest expense for the nine months ended September 30, 2026 decreased $582 million primarily reflecting approximately $818 million of favorable impacts related to changes in the fair value of interest rate derivative instruments, partly offset by higher interest expense driven by higher average debt balances as well as a loss on extinguishment of debt as a result of the sale of ownership interests in a transmission asset (see Note 11 – Disposal of a Business).

Previous wording

NEER recognized $333 million and $177 million of equity in earnings of equity method investees for the three months ended June 30, 2026 and 2025. NEER recognized $503 million of equity in earnings of equity method investees for the six months ended June 30, 2026, compared to $469 million of equity in losses of equity method investees for the six months ended June 30, 2025. The change for the three and six months ended June 30, 2026 reflects higher earnings from equity method investees as well as a gain of approximately $119 million related to the sale of a partial interest in an equity method investment. The change for the six months ended June 30, 2026 also reflects the absence of an impairment charge related to the investment in XPLR recorded in 2025 of approximately $0.7 billion ($0.5 billion after tax) (see Note 3 – Nonrecurring Fair Value Measurements).

Current wording

NEER recognized $795 million of equity in earnings of equity method investees for the nine months ended September 30, 2026 compared to $275 million of equity in losses of equity method investees for the nine months ended September 30, 2025. The change for the nine months ended September 30, 2026 primarily reflects the absence of an impairment charge related to the investment in XPLR recorded in 2025 of approximately $0.7 billion ($0.5 billion after tax) (see Note 3 – Nonrecurring Fair Value Measurements). The change for the nine months ended September 30, 2026 also reflects higher earnings from equity method investees, as well as gains totaling approximately $258 million related to the sales of partial interests in equity method investments.

Previous wording

PTCs from wind and solar projects and ITCs from solar, battery storage and certain wind projects are included in NEER’s earnings. PTCs are recognized as wind and solar energy is generated and sold based on a per kWh rate prescribed in applicable federal and state statutes. NEER's effective income tax rate is primarily based on the composition of pretax income (loss) in the period presented. See Note 4.

Current wording

PTCs from wind and solar projects and ITCs from solar, battery storage and certain wind projects are included in NEER’s earnings. PTCs are recognized as wind and solar energy is generated and sold based on a per kWh rate prescribed in applicable federal and state statutes. NEER's effective income tax rate is primarily based on the composition of pretax income in the period presented. See Note 4.

Previous wording

The change in net loss attributable to noncontrolling interests primarily reflects higher earnings associated with existing differential membership interest investors, as well as an increase in additional differential membership interests. See Note 11 – Noncontrolling Interests.

Current wording

The change in net loss attributable to noncontrolling interests for the three and nine months ended September 30, 2026 primarily reflects higher earnings associated with existing differential membership interest investors, as well as an increase in additional differential membership interests. See Note 11 – Differential Membership Interests.

Previous wording

In July 2026, NextEra Energy Resources obtained 100% ownership of Duane Arnold through the acquisition of the remaining ownership interest.

Current wording

In July 2026, NextEra Energy Resources obtained 100% ownership of Duane Arnold through the acquisition of the remaining ownership interest. Additionally, in September 2026, a NEER subsidiary entered into a federal loan arrangement providing for up to $1.9 billion of financing, guaranteed by the U.S. Department of Energy, to support the restart of Duane Arnold.

Previous wording

Corporate and Other's results increased $328 million during the three months ended June 30, 2026 primarily due to favorable after-tax impacts of approximately $453 million, as compared to the prior year period, related to non-qualifying hedge activity as a result of changes in the fair value of interest rate derivative instruments (see Note 2), partly offset by higher interest expense driven by higher average debt balances.

Current wording

Corporate and Other's results increased $1,964 million during the three months ended September 30, 2026 primarily due to favorable after-tax impacts of approximately $2,041 million, as compared to the prior year period, related to non-qualifying hedge activity as a result of changes in the fair value of interest rate derivative instruments (see Note 2), partly offset by higher interest expense driven by higher average debt balances.

Previous wording

Corporate and Other's results increased $683 million during the six months ended June 30, 2026 primarily due to favorable after-tax impacts of approximately $846 million, as compared to the prior year period, related to non-qualifying hedge activity as a result of changes in the fair value of interest rate derivative instruments (see Note 2), partly offset by higher interest expense driven by higher average debt balances.

Current wording

Corporate and Other's results increased $2,650 million during the nine months ended September 30, 2026 primarily due to favorable after-tax impacts of approximately $2,889 million, as compared to the prior year period, related to non-qualifying hedge activity as a result of changes in the fair value of interest rate derivative instruments (see Note 2), partly offset by higher interest expense driven by higher average debt balances.

Previous wording

NEE and its subsidiaries require funds to support and grow their businesses. These funds are used for, among other things, working capital, capital expenditures (see Note 12 – Commitments), investments in or acquisitions of assets and businesses (see Note 5), payment of maturing debt and related derivative obligations (see Note 9 and Note 2) and, from time to time, redemption or repurchase of outstanding debt or equity securities. It is anticipated that these requirements will be satisfied through a combination of cash flows from operations, short- and long-term borrowings, the issuance of short- and long-term debt (see Note 9) and, from time to time, equity securities, proceeds from differential membership investors, sales of clean energy tax credits (see Note 11 – Income Taxes) and sales of ownership interests in assets/businesses (see Note 11 – Disposal of a Business), consistent with NEE’s and FPL’s objective of maintaining, on a long-term basis, a capital structure that will support a strong investment grade credit rating. NEE, FPL and NEECH rely on access to credit and capital markets as significant sources of liquidity for capital requirements and other operations that are not satisfied by operating cash flows. The inabilityof NEE, FPL and NEECH to maintain their current credit ratings could affect their ability to raise short- and long-term capital, their cost of capital and the execution of their respective financing strategies, and could require the posting of additional collateral under certain agreements.

Current wording

NEE and its subsidiaries require funds to support and grow their businesses. These funds are used for, among other things, working capital, capital expenditures (see Note 12 – Commitments), investments in or acquisitions of assets and businesses (see Note 5), payment of maturing debt and related derivative obligations (see Note 9 and Note 2) and, from time to time, redemption or repurchase of outstanding debt or equity securities. It is anticipated that these requirements will be satisfied through a combination of cash flows from operations, short- and long-term borrowings, the issuance of short- and long-term debt (see Note 9) and, from time to time, equity securities (see Note 10 – ATM Program), proceeds from differential membership and project minority interest investors (see Note 11 – Differential Membership Interests and – Project Minority Interests), sales of clean energy tax credits (see Note 11 – Income Taxes) and sales of ownership interests in assets/businesses (see Note 11 – Disposal of a Business), consistent with NEE’s and FPL’s objective of maintaining, on a long-term basis, a capital structure that will support a strong investment grade credit rating. NEE, FPL and NEECH rely on access to credit and capital markets as significant sources of liquidity for capital requirements and other operations that are not satisfied by operating cash flows. The inabilityof NEE, FPL and NEECH to maintain their current credit ratings could affect their ability to raise short- and long-term capital, their cost of capital and the execution of their respective financing strategies, and could require the posting of additional collateral under certain agreements.

Previous wording

NEE's sources and uses of cash for the six months ended June 30, 2026 and 2025 were as follows:

Current wording

NEE's sources and uses of cash for the nine months ended September 30, 2026 and 2025 were as follows:

Previous wording

The following table provides a summary of capital investments for the six months ended June 30, 2026 and 2025.

Current wording

The following table provides a summary of capital investments for the nine months ended September 30, 2026 and 2025.