NextEra Energy (NEE) investor relations material

Deal rationale and strategic fit

• The merger creates the largest regulated electric utility and power company in the U.S., serving about 10 million customer accounts across four high-growth states with a combined annual GDP of ~$4 trillion.

• Addresses rapidly rising U.S. power demand, expected to grow six times faster over the next 20 years, by leveraging unmatched scale, capital efficiency, and operational expertise.

• Combines complementary strengths in renewables, storage, gas, nuclear, and regulated utility operations, supporting economic development, reliability, and customer value.

• Both companies share a customer-first culture, strong community ties, and a commitment to safety, operational excellence, and engagement.

• Enables cost-effective investments in generation, transmission, and grid infrastructure to support growth.

Financial terms and conditions

• Structured as a tax-free, all-stock merger; Dominion shareholders receive 0.8138 shares of NextEra for each Dominion share, resulting in a 74.5%/25.5% ownership split.

• Dominion shareholders receive a one-time $360 million cash payment at closing and continue to receive current quarterly dividends through close.

• The transaction has an enterprise value of ~$420 billion and a market cap of ~$249 billion.

• The deal is expected to be immediately accretive to adjusted EPS at closing.

Synergies and expected cost savings

• Significant buying power and scale are expected to drive down operating and capital costs, with annual CapEx of ~$59 billion from 2027–2032.

• Shared platforms in supply chain, technology, and data analytics will enhance efficiency and customer savings.

• $2.25 billion in bill credits will be provided to Dominion customers in Virginia, North Carolina, and South Carolina over two years post-close.

• Non-fuel O&M costs per megawatt are expected to remain significantly below the national average.

• Improved credit ratings are anticipated, lowering financing costs and supporting affordable customer bills.