1TECO EnergyFourth Quarter ResultsTampa, FLFebruary 5, 20132Forward Looking StatementsThe Private Securities Litigation Reform Act of 1995 provides a“safe harbor” for forward-looking statements. Certain information includedin this presentation contains statements that are forward-looking, such asstatements relating to growth projections and trends as well as capitalspending, cash generation and liquidity. Such statements are based on thecompany’s current expectations, and the company does not undertake anyobligation to update or revise such statements. Such forward-lookinginformation involves important risks and uncertainties that could significantlyaffect anticipated results in the future and, accordingly, such results maydiffer from those expressed in any forward-looking statements made byTECO Energy.For more information regarding these risks and uncertainties, review theRisk Factors section of the TECO Energy Annual Report on Form 10-K forthe period ended Dec. 31, 2011 as filed with the SEC.3Sandra CallahanChief Financial Officer4Fourth Quarter Financial ResultsNet Income ($ millions) 2012 2011Net income $ 45.1 $ 53.2Add /(subtract) discontinued operations 0.5 (5.9)Net income from continuing operations $ 45.6 $ 47.3Earnings Per Share ($/share)Earnings per share $ 0.21 $ 0.25Add /(subtract) discontinued operations -- (0.03)EPS from continuing operations $ 0.21 $ 0.225Full-Year 2012 Financial ResultsNet Income ($ millions) 2012 2011Net income $ 212.7 $ 272.6Add /(subtract) discontinued operations 33.3 (21.8)Net income from continuing operations $ 246.0 $ 250.8Earnings Per Share ($/share)Earnings per share $ 0.99 $ 1.27Add /(subtract) discontinued operations 0.15 (0.10)EPS from continuing operations $ 1.14 $ 1.176TECO Guatemala Discontinued Operations($ millions)Fourth quarter 2012 2011Results from operations $ (2.9) $ 6.0Final adjustments to loss on sale and tax charge 2.4 —Net income from discontinued operations $ (0.5) $ 6.0Full-yearResults from operations $ 18.2 $ 22.4Loss on assets sold, net of fees (28.6) —Foreign tax credit charge (22.9) —Net income from discontinued operations $ (33.3) $ 22.47Tampa Electric Business DriversFourth quarter–1.4% customer growth–Net energy for load 3.5% higherPretax base revenue $5.0 million higher–Degree days 14% below normal, but 5% above 2011–Higher O&M and depreciation, lower interest expenseFull-year–1.2% customer growth–Net energy for load 0.3% higherHigher sales to phosphate customersPretax base revenue $6.0 million lower–Degree days normal – below normal winter and summer months;above normal cooling degree days in shoulder months–Higher O&M and depreciation, lower interest expense8Peoples Gas Business DriversFourth quarter–1.4% customer growth–Higher therm sales to all customer classes–Higher O&M and depreciation, lower interest expenseFull-year–1.2% customer growth–Higher sales to commercial and industrial customersImproving economy–Lower sales to residential customersMild first quarter weather–Lower O&M and interest expense, higher depreciation9TECO Coal Business DriversFourth quarter–Sales 1.4 million tons–Average selling almost $95 per ton–Average cost of production more than $85 per tonFull-year 2012–Sales 6.3 million tons–Average selling price more than $95 per ton–Average cost of production more than $85 per tonSpreading fixed costs over fewer tonsCost associated with idling certain mining operations10Economic IndicatorsState and local unemployment rate continues to decline whilework force continues to growDec. 2012 Peak–Hillsborough County 7.6% 12.8%–Florida 8.0% 12.3%–U.S. 7.8% 10.1%Housing market continues to improve–4,430 new single family building permits issued in 2012–Existing home resales continue strong – 3.3 months inventoryJanuary Case-Shiller report Tampa market 6.8% increase YOYTaxable sales continue to grow +4.7% YOY – 12-months ended112013 GuidanceEPS guidance in a range of $0.90 to $1.00Excludes charges and gains–Tampa Electric expected to earn below the bottom of ROE range–Peoples Gas expected to earn above the middle of ROE range–TECO Coal profitable in a weak marketMaintain the dividend at current level in 2013–Prospects for return to normal ratable dividend growth in 2014122013 Florida Utility Business DriversTampa Electric–Customer growth trends consistent with 2012 at 1.2%–Energy sales growth below customer growthLower per customer usage–Lower sales to phosphate customers due to increased selfgeneration2012 higher due to customer equipment outages–Higher O&M and depreciationPeoples Gas–Customer growth trends expected to continue consistent with 2012–Continued interest in natural gas vehicles and industrial conversions13Tampa Electric Base RateTest Year Notification FiledTest year notification filed Feb. 4Docket number 130040-EIPlan to file full request in early April2014 projected test yearNew rates effective January 2014Base rate request estimated at $135 millionROE range 11.25% mid-pointCurrent rates second lowest in Florida among the IOU’s–Expect to maintain that position142013 TECO Coal Business Drivers2013 sales in a range between 5.2 and 5.7 million tons–2.7 million tons of steam coal contracted–2.2 million tons of met coal contractedPrices lower than 2012Unsold met tons a mix of primarily Hi-vol A and Hi-vol B gradesAverage selling price more than $86 per tonAverage cost of sales in a range between $81 and $85 per ton–Total cost driven by steps taken in 2012 to reduce mining costsFewer shifts, lower head count, reduced overtimeContinued focus on cost control15Polk 2 – 5 ConversionTotal project cost approximately $700 million–Includes approximately $100 million of AFUDC–Includes approximately $150 million for transmission systemProjected in-service January 2017 supports system reliability andmodest customer growth–Replacement of expiring power purchase agreementsNeed determination approved Dec. 12, 2012 – bench decisionSite certification application filed–Decision expected 4Q1316Current Outlook for Parent CashPeak spending on Polk conversion 2014 and 2015–Cash contribution from parent to support Tampa Electric’s capital structureestimated at $220 - $250 million in 2013 and 2014Extension of bonus depreciation and technical guidance on repairexpense–Additional deductions benefit utility cash flows $120 - $150 million in 2013 and2014–Reduces cash taxes paid to TECO Energy by the same amountCurrent outlook adjusted for delay in realization of cash taxes–Majority of proceeds from the saleof TECO Guatemala will supportinvestment in Tampa Electric–Share repurchases to offset compensation share issuance and asopportunities ariseExpect total over next several years less than $50 million17Tax Value of NOL-1002003004005006007008009002004 2005 2006 2007 2008 2009 2010 2011 2012

$ x Millions18Investor CommunicationsFile 10-K – Due March 1UBS Investor Conference March 5Morgan Stanley Investor Conference March 719Q&A20Appendix21Local Employment Trends1,000,0001,050,0001,100,0001,150,0001,200,0001,250,0001,300,0001,350,000 

# Jan-09 Apr-09 Jul-09 Oct-09 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12EmploymentWork ForceLinear (Employment)Linear (Work Force)Source: Florida Agency for Workforce Innovation22Unemployment Trends4.0%5.0%6.0%7.0%8.0%9.0%10.0%11.0%12.0%13.0%14.0% 

# Jan-09 Apr-09 Jul-09 Oct-09 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12FloridaUSHillsborough CountySource: Florida Agency for Workforce InnovationDecemberU.S. 7.8%Florida 8.0%Hillsborough 7.6%23Single Family Building Permits0100200300400500600700800900 

# Jan-07 Apr-07 Jul-07 Oct-07 Jan-08 Apr-08 Jul-08 Oct-08 Jan-09 Apr-09 Jul-09 Oct-09 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12SF Building Permits12-Month Moving AverageDec. 2008 monthly low pointOct. 2009 Moving average low point4,430 single family building permits issued in 2012, 40% more than 201124Tampa Area Existing Home ResalesSource: Greater Tampa Association of Realtors-5001,0001,5002,0002,500 

# Jan-07 Apr-07 Jul-07 Oct-07 Jan-08 Apr-08 Jul-08 Oct-08 Jan-09 Apr-09 Jul-09 Oct-09 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-123.3 month inventory of homes available for resale in December25Hillsborough County Monthly Taxable Sales$-$500$1,000$1,500$2,000$2,500 

# Jan-04 Apr-04 Jul-04 Oct-04 Jan-05 Apr-05 Jul-05 Oct-05 Jan-06 Apr-06 Jul-06 Oct-06 Jan-07 Apr-07 Jul-07 Oct-07 Jan-08 Apr-08 Jul-08 Oct-08 Jan-09 Apr-09 Jul-09 Oct-09 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12

$ millions12-months ended Oct. 2012 average monthly sales +4.7%26Tampa ElectricCumulative Customer Additions010,00020,00030,00040,00050,00060,00070,000 1/ 1/ 05 6/ 1/ 05

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