Were a leading energy infrastructure company Strategically diversified across North America Enterprise Value: 7.7 billion* Gas processing touching over 2 Bcf/d 1,372 MW of Power generation in five fuel types 5 Utilities serving over…
Our Strategy Capitalize on opportunities created by the renaissance of natural gas and clean energy demand through each of our business segments Diverse business segments; diverse markets Long-life assets Gas Stable and predictable…
We are executing our strategy Added over 4 billion in new assets over the last five years 2010 2011 2012 2013 2014 2015 2010 2011 2012 2013 2014 2015 PNG SEMCO Petrogas Cold Lake McLymont Gordondale Blythe Forrest Kerr Volcano…
Gas Liquids-rich. Long-term. Contracted. Operating Margin** Gas processing: Unhedged 15% Touching over 2 Bcf/d Hedged Take-or-Pay 14% 33% Processing capacity: Fee for Service 38% 2/3 serving liquids-rich areas Growth: . -LNG…
Acquisition of Petrogas: A leading North American integrated midstream service company Petrogas Profile Acquisition 750 million in total assets Meaningfully accretive to earnings and CFPS Sales of over 2.7 billion Acquired 25%…
Aligns with AltaGas strategy Fee-for-service and back-to- back purchase and sales Long-life assets, strong geographic fit Provides access to additional NGL markets Supports AltaGas LPG export initiative Enhances CNG and LNG…
Infrastructure assets located in liquids-rich area AltaGas and Petrogas facilities provide North American reach Aux Sable Fort. St. John Grande Prairie Slave Lake Clair Redwater Petrogas Increasing Edmonton Ft. Saskatchewan Ft.…
Petrogas infrastructure accelerates the development of propane exports North American reach Of 1,500 rail cars, two- thirds carry propane Deep supply source of propane See Forward-Looking Statements & Information 9
Strategically located in key liquids-rich gas plays 8.00 Canadian natural gas plays profit/loss 7.00 6.00 5.00 4.00 C/Mcf 3.00 2.00 1.00 0.00 Glauconite Hz. Cardium Hz. Montney at Duvernay Hz. Wilrich at Montney at…
Cold Lake natural gas transmission system expansion Announced in August 2013 Used for steam generation of two SAGD heavy oil projects Underpinned by long-term take-or-pay agreements Total cost: 17 million In-service: Late…
Power Diverse. Dynamic. Renewable. Fuel Type by MW Power generation: 1,372 MW Coal Gas 353 MW 579 MW 5 fuel types: wind, hydro, Hydro** 288 MW biomass, gas and coal Biomass Wind 117 35 MW MW Growth: -Cogen III -Forrest Kerr…
Cogen III Delivering organic growth Provides strong 15 MW expansion at Harmattan facility for a total of 45 MW returns and capitalizes on Meeting the increased power demand synergies at the at Harmattan Harmattan Potential to…
Completing Forrest Kerr ahead of schedule and on budget Mechanically complete by Powerhouse end of 2013 195 MW capacity 60-year fully indexed EPA with BC Hydro Capital cost estimate: 725 million Northwest Transmission Line 100…
Strong capacity factor of 55 to 60 percent Forrest Kerr - Predictable, sustainable hydrology 900 800 700 600 Discharge (m/s) Water flow used for generation 500 400 300 200 Design discharge of 252 m/s 100…
Forrest Kerr September 28, 2013 Sluiceway Weir Intake 16
Construction ahead of schedule and on budget McLymont Creek and McLymont tunnel Volcano Creek 82 MW capacity 60-year fully indexed EPA with BC Hydro Capital cost estimate: 300 million Volcano intake 30 million annualized EBITDA…
McLymont Power tunnel Aug. 24 Iskut bridge Sept. 21 Power tunnel site Sept. 21 18
Volcano Creek September 21, 2013 Intake Powerhouse 19
Utilities Secure. Regulated. Growing. Rate Base 5 Utilities: Serving nearly 550,000 customers Canada 42% U.S. 58% Rate base: More than doubled in 2012 to 1.3B Growth: -PNG pipeline expansion . -Volume demand & system betterment TTM…
Well diversified Utility business Alberta AUI: Albertas second largest natural gas utility British Columbia PNG: Only pipeline in the BC LNG corridor Nova Scotia Heritage Gas: Nova Scotias only natural gas utility Michigan…
Strong Utility growth Strong rate base growth from volume Growing volumes demand and system betterment Greenfield expansion Fuel switching 1,000 Rate Base (millions)* Natural gas-fired power 800 generation Transportation…
Utilities expansion driving earnings growth SEMCO on track to deliver SEMCO 130 M EBITDA M SEMCO EBITDA Target Q2 2013 80 million Q1 2013 Q4 2012 40 million See Forward-Looking Statements & Information 23
Future investment opportunities of 2 - 5 billion British Columbia See Forward-Looking Statements & Information 24
AltaGas / Idemitsu JV partnership AltaGas and Objective: To pursue opportunities to Idemitsu each export LPG and LNG from Canada own a 50 percent LPG exports potentially commencing interest in the in 2016 Partnership LNG exports…
Shippers secured for PNG expansion Increase capacity of PNG system to 750 Mmcf/d from current 115 Mmcf/d PNG expansion is a critical milestone to executing on LNG export initiative 20-year Transportation Reservation Agreements…
LNG: Significant growth potential across all businesses Utilities Power Utilizing existing capacity on Increased generating capacity to PNG Pipeline support LNG projects 30-year firm transportation Gas arrangement with LNG Partners…
Why invest Attractive portfolio of Strong, diversified business Capital growth focused on stable, long-term energy infrastructure contracted projects assets Opportunities to grow Strong credit ratings Financially strong Strong…
2013 milestones Growth projects Area Targets for 2013 Utilization of new gas assets Gas 75 percent utilization of gas assets added in 2012 Forrest Kerr Power Mechanical completion and begin commissioning McLymont Creek and Volcano Creek…
Appendix 30
Q2 2013 Highlights Normalized EBITDA of 106.2 million Significant EBITDA growth driven by new assets* EBITDA is lower in Q2 and Q3 due to normal season factors in the Utilities 160 EBITDA Announced the construction of 13 MW 140…
Capital allocation program drives growth Disciplined in managing balance sheet and allocating capital Excess normalized funds from operations available for growth, maintenance and dividend growth Dividend Payout Target = 40 - 50% of…
Investment grade credit ratios X EBITDA to interest Debt to total Available credit 6.0 capital facilities 1,600 70% 5.0 1,400 60% 1,200 4.0 50% 1,000 (In millions) 40% Available 3.0 800 Drawn 30% 2.0 600 20% 400 1.0…
Debt profile Capital structure* Term debt maturity positions* 500 400 (in millions) 7% Preferred Shares Common Shares 300 Debt 54% 39% 200 100 - Strong balance sheet Balanced debt maturity profile 54 percent debt…
Increased earnings stability 80% Adding assets underpinned by regulated returns or long- term contracts Reducing commodity exposure 80 percent from stable earnings in 2013 Target of 85 percent from stable earnings See…
Committed capital fully funded Uses Sources Ample liquidity to fund 2013-15 capital growth 850 million committed capital* 1.3 billion cash flow 540 million dividends 180 million DRIP 60 million pref dividends 1.0 billion current…
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