Fourth Quarter 2014 Conference Call February 13, 2015
Recent Developments Russ Girling, President & CEO 3
2014 Highlights Many accomplishments in 2014 Resolved a number of issues and successfully advanced several pipeline and power generation projects, captured more high-quality growth opportunities across North America Comparable…
2014 Highlights Continued to focus on maximizing the value of our 59 billion asset base Successfully repositioned our Canadian Mainline and ANR systems that had been under market pressures 3.8 billion of new assets began…
Dividends Per Share 2.08* 7.0% CAGR 0.80 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15E * Annualized based on first quarter declaration 6
Advancing Our 46 Billion Capital Program Small to Medium-sized Projects Large-scale Projects Estimated Estimated Expected Capital Amount Expected Capital Amount Project In-Service Date* Cost* Spent Project In-Service Date* Cost*…
Energy East Pipeline Project Qubec Atlantic Canada 400 kbbl/d 435 kbbl/d U.S. PADD I 1,200 kbbl/d Energy East filing includes a proposed marine terminal near Cacouna, Qubec Committee on the Status of Endangered Species…
Upland Pipeline Tens of thousands of barrels per day of U.S. Bakken crude oil is being railed to central and Eastern Canadian markets We completed a successful open season for the Upland Pipeline in November 2014 The 600 million…
Keystone XL Congress passed legislation approving KXL construction, now goes to President Obama Strong bipartisan and public support remains. Two thirds of Americans want pipeline built National Interest Determination period…
NGTL System NGTL System continues to experience growth due to growing Alberta and B.C. production driven by oil sands development and gas-fired electrical power generation demand Demand expected to result in 4 Bcf/d of…
Canadian Mainline Tolls Application NEB approved Mainlines 2015-2030 tolls application in November 2014 Application reflected TransCanada/LDC settlement Provides long-term platform for Canadian Mainline and shippers with a known…
Canadian Mainline - Expansions TransCanada has signed new short haul contracts in the Eastern Triangle to deliver U.S. natural gas to Eastern Canadian customers These contracts require 475 million of new facilities with expected…
West Coast LNG Pipeline Projects Received an Environmental Assessment Certificate (EAC) for PRGT in November 2014 Submitted our pipeline permit applications to B.C.s Oil and Gas Commission (OGC) for construction of the Prince…
Mexico Natural Gas Pipeline Assets US600 million Tamazunchale extension operational mid-November 2014 Pipeline has a 25-year natural gas transportation service contract with Mexicos state-owned power company Permitting,…
Napanee Generating Station Construction started in January 2015 on our 900 MW Napanee power facility 1 billion facility expected to be operational in late 2017 or early 2018 Power production fully contracted with the Ontario…
Ontario Solar TransCanada acquired eighth Ontario solar facility in late December 2014 Part of a larger purchase agreement with Canadian Solar signed in 2011 Invested over 450 million All solar facilities generating power…
Key Takeaways Diverse asset portfolio generated strong earnings and cash flow in 2014 Comparable earnings increased eight per cent to 1.7 billion, funds generated from operations up seven per cent to 4.3 billion Common share…
Key Takeaways 2015 focus remains the same: Maximize value of our 59 billion asset base Move 46 billion capital program from concept to cash flow Continue to cultivate new opportunities to invest growing cash flow; and Maintain…
Consolidated Results of Operations (unaudited) (millions of dollars, except per share amounts) Three months Year ended ended Dec 31 Dec 31 2014 2013 2014 2013 Net Income Attributable to Common Shares 458 420 1,743 1,712 Specific…
Business Segment Results (unaudited) (millions of dollars) Three months Year ended ended Dec 31 Dec 31 2014 2013 2014 2013 Natural Gas Pipelines Canadian Pipelines 646 600 2,318 2,107 U.S. and International Pipelines 249 192 940…
Other Income Statement Items (unaudited) (millions of dollars) Three months Year ended ended Dec 31 Dec 31 2014 2013 2014 2013 Comparable EBIT (1) 1,105 895 3,910 3,387 Comparable interest expense(1) (323) (240) (1,198) (984)…
Cash Flow and Investing Activities (unaudited, millions of dollars) Three months Year ended ended Dec 31 Dec 31 2014 2013 2014 2013 Funds Generated From Operations(1) 1,178 1,083 4,268 4,000 Investing Activities: Capital…
Financial Position Remains Strong Consolidated Significant financial flexibility Capital Structure* A grade credit ratings (at December 31, 2014) 489 million cash on hand 5 billion of undrawn committed credit lines and two well…
2015 Earnings Outlook 2015E vs 2014A Natural Gas Pipelines Canadian Mainline NGTL System U.S. and International Liquids Pipelines Keystone System Energy Western Power Eastern Power Bruce Power U.S. Power Natural Gas…
TransCanada Key Takeaways Strong fourth quarter and full-year financial results Quarterly common share dividend increased eight per cent Solidified long-term outlook for the Canadian Mainline and ANR along with 3.8 billion of new…
Question & Answer Period Russ Girling Don Marchand Alex Pourbaix Karl Johannson Paul Miller Bill Taylor Glenn Menuz David Moneta 28
Fourth Quarter 2014 Conference Call February 13, 2015
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