TC PipeLines, LP (TCP) - Investment Proposition Track Record of Consistent Low-Risk Energy Distributions Infrastructure Assets 6% yield Almost entirely underpinned by 4% CAGR since 1999 long-term, ship-or-pay contracts Solid…
TC PipeLines, LP (NYSE:TCP) Natural Gas Pipelines Essential infrastructure; 8.9 Bcf/d of total capacity FERC regulated with long-term, ship-or-pay contracts on five of our six pipeline assets Limited cash flow risk No commodity…
TransCanada Corporation (TSX, NYSE:TRP) Enterprise Value 65 billion One of North Americas Largest Natural Gas Pipeline Networks 68,500 km (42,500 mi) of pipeline 14 Bcf/d or 20% of demand Largest Private Sector Power Generator in…
Changing Energy Landscape Driving Significant Growth at TransCanada Changing energy landscape is creating significant growth opportunities Abundant natural gas supply Growing oil supply Growing domestic demand and natural gas…
TransCanada - 38 Billion Portfolio of Commercially Secured Projects * TransCanada share in billions of dollars. Certain projects are subject to various conditions including corporate and regulatory approvals. ** Expected to be in…
TransCanadas U.S. Pipeline Assets U.S. natural gas pipeline assets available for drop down GTN 30% (West) Bison 30% (Midwest) Portland 61.7% (New England) Iroquois 44.5% (New York) ANR 100% (Mid-continent) Great Lakes 53.55%…
TC PipeLines Growth Strategy Drop downs from TransCanada TransCanada expects to drop down all of its U.S. natural gas pipeline assets into TCP over time as its capital program progresses Consistent business model Mature assets…
Realizing our Vision 2020 Asset Outlook* for illustrative purposes, outlook asset values based on value at December 31, 2013 10
TC PipeLines, LP - Investment Proposition Track Record of Stable and Growing Cash Distributions 14 consecutive years of distribution increases Increased distribution by 3.7% in July 2014 6% yield Low-Risk Energy Infrastructure…
Appendix
North America Natural Gas Dynamics B.C. LNG exports shale gas Bakken shale Northeast supply Storage for balancing Changing landscape Increasing demand will impact gas flow for power generation and petrochemical…
Second Quarter 2014 Financial Results (unaudited, millions of dollars except per common unit amounts) Three months ended June 30 2014 2013 (a) Partnership cash flows 77 42 Cash distribution paid (52) (43) Cash distributions…
Second Quarter 2014 Financial Results (unaudited, millions of dollars) Three months ended June 30 (a) 2014 2013 Transmission revenues 82 82 Equity earnings from unconsolidated affiliates 18 15 Operating, maintenance and…
18.1% Average Annual Return Since 2000 Value 100 invested on December 31, 2009; dividends reinvested on payment date 16
Diversified Sources of Cash Flow 2014 Partnership Cash Flows* Diversified cash flow base 92% of cash flow from long-term contracts Based on 2014 first six months cash flows 17
Strong and Diverse Customer Mix Transportation Customers by Credit Quality Diverse customer mix includes utilities, large producers, marketers and power generators * As of July 2014 18
Solid Financial Position Conservative capital structure Debt/total capitalization approximately 47% as at June 30, 2014 Investment grade credit ratings Indicative of quality assets within portfolio Liquidity and flexibility…
West Coast Pipelines Stable, consistent financial position Revenues underpinned by long- term, ship-or-pay contracts GTN: contracts maturing between 2015 and 2023 North Baja: contracts maturing between 2022 and 2031…
Mid-West: Northern Border and Bison Northern Border Revenues substantially contracted through June 2015 Large portion contracted through 2020 Ongoing success in contract renewals term extensions for three years or longer Rate…
Mid-West: Great Lakes Critical regional infrastructure Winter of 2013/14 demonstrated value of pipeline Gas storage interconnections with total regional storage capacity of 650 Bcf Shorter-term, short-haul and bi-directional…
TransCanadas Ownership in ANR FERC-regulated interstate natural gas pipeline 10,563 miles Wholly owned by TransCanada Transports natural gas from Texas and Oklahoma on its southwest leg to the upper midwest and will be…
ANR Pipeline Connecting Marcellus/Utica Supply Secured approximately 2.0 Bcf/d of long-term contracts at maximum rates on Southeast Mainline 1.25 Bcf/d will commence in 2014; remainder of volume commencing in 2015 Average term of…
TransCanadas Ownership in Iroquois FERC-regulated interstate natural gas pipeline 414 miles Key market connections into New York City Strategically positioned to transport Marcellus gas 44.5% owned by TransCanada Supported by…
TransCanadas Ownership in Portland FERC-regulated interstate natural gas pipeline 295 miles Key market connections into the New England market Critical link in meeting New Englands gas peaking needs 61.7% owned by TransCanada…
TransCanadas NGTL System Transports approximately 10 Bcf/d or 75% of WCSB supply Provides essentially all of the gas to growing Alberta oil sands region Expected to play a key role in linking supply to proposed West Coast LNG…
TransCanadas West Coast LNG Pipeline Projects 9 billion investment underpinned by long-term take-or-pay contracts Coastal GasLink to serve LNG Canada facility proposed by Shell, Korea Gas, Mitsubishi and PetroChina Prince Rupert…
TransCanadas Mexico Natural Gas Pipeline Assets US2.6 billion of operating pipelines and projects Secured by 25-year contracts with CFE US0.6 billion invested US2.0 billion of projects Future opportunities to expand the natural…
TransCanada Oil Pipelines Strategy Connect growing WCSB supply to key refining markets Capture Alberta regional oil infrastructure opportunities Connect growing U.S. shale oil to market Leverage existing natural gas pipeline…
TransCanadas Energy East Project Qubec Atlantic Canada 400 kbbl/d 415 kbbl/d U.S. PADD I 1,200 kbbl/d Involves conversion of 3,000 km (1,860 mi) of the Canadian Mainline from natural gas to crude oil service and the…
Seasonality of U.S. & Canadian Natural Gas Supply and Demand 120 110 Peak Trend 100 90 80 Bcf/d 70 60 50 40 Jan07 Sep07 Jan08 Sep08 Jan09 Sep09 Jan10 Sep10 Jan11 Sep11 Jan12 Sep12 Jan13 Sep13 Jan14…
WCSB Gas Supply Potential West Coast Natural Gas Plays WCSB Remaining Resource Estimates 1000 Yukon Northwest Territories 900 Cordova Liard Basin Horn Embayment 800 River Shale* 700 Horn River: Resource Potential: 80 tcf…
The North American Energy Landscape North American Natural Gas Supply Bcf/d 130 120 LNG Imports 110 100 90 80 70 60 50 U.S. Shale 40 30 20 Gulf of Mexico + U.S. Other 10 Mexico 0 2008 2013 2018 Source: TransCanada 34
The North American Energy Landscape North American Natural Gas Demand Bcf/d LNG LNG Electric Generation Industrial NGV Commercial Residential Pipe / Plant Fuel Source: TransCanada 35
The North American Energy Landscape WCSB and Bakken Crude Oil Supply Outlook MMBbl/d 6.5 6.0 5.5 5.0 Bakken 4.5 Bakken 4.0 3.5 3.0 WCSBWCSB Bitumen Bitumen BlendBlend 2.5 2.0 1.5 WCSB WCSBUpgraded Light Upgraded Light…
The North American Energy Landscape North American Power Generation by Fuel Type Twh Natural Gas Renewables Oil Hydro Nuclear Coal Source: TransCanada 37
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