SEPs Sustainable Growth Story Gregory Rizzo President and Chief Executive Officer Spectra Energy Partners December 8, 2009 Wells Fargo Securities Pipeline & MLP Symposium
Safe Harbor Statement Some of the statements in this document concerning future company performance will be forward-looking within the meanings of the securities laws. Actual results may materially differ from those discussed in these…
Spectra Energy Partners Fast Facts Publicly traded Master Limited Partnership (MLP) 2.1 billion market capitalization 2008 Cash Available for Distribution 121.5 million 100 million distributed (1.2X coverage ratio) Headquartered in…
An Attractive Investment Opportunity Well-Positioned Assets Strong Sponsorship Growth Opportunities Financial Strength Value to Unitholders Our Strategy Optimizing our Assets Deliver on Organic Growth Pursue Acquisitions…
Track Record of Growing Distributions 41 Quarterly Distribution per LP Unit (in cents) 39 37 Annual distribution equivalent of 1.60 per LP Unit 35 Recently increased quarterly 33 distribution by 0.02 per LP Unit 31 to 0.40…
Our Assets & Projects Spectra Energy Partners December 8, 2009 Wells Fargo Securities Pipeline & MLP Symposium 5
East Tennessee Natural Gas Pipeline ETNG Operating Totals: 1,510 mile interstate pipeline 1.5 Bcf/d of capacity 28 receipt - 175 delivery points 1 Bcf LNG storage facility Avg contract life: 8 yrs ETNG is well positioned to…
Ozark Gas Transmission and Gathering Acquisition announced, closed and financed all in the 2nd quarter of 2009 Transition and integration progressing well Well-positioned assets with a good mix of customers Interconnects with…
Market Hub Partners Natural Gas Storage High deliverability storage Significant interconnectivity Access to markets in Northeast, Southeast, Midwest, Texas, and Florida Benefits from: Shifts in natural gas supply Changes in…
Gulfstream Natural Gas Pipeline Gulfstream Operating Totals: One of Two Pipelines serving 745 mile interstate natural gas Florida Peninsula pipeline 1.25 Bcf/d of capacity 8 receipt - 23 delivery points Fully subscribed with…
Debt and Available Liquidity ( millions) SEP maintains a strong financial position At Sept. 30, 2009 At June 30, 2009 Debt East Tennessee Natural Gas (5.71%; Due 2012) 150 150 Other Floating Rate Debt 270 269 Total Debt 420 419…
The Outlook for Natural Gas Use Natural gas will continue to be a key resource for North Americas energy needs: Abundant 100+ years of supply Shale and other non-conventional sources Improved technology Domestic Clean burning…
www.spectraenergypartners.com Spectra Energy Partners December 8, 2009 Wells Fargo Securities Pipeline & MLP Symposium
Appendix A Financial Information Spectra Energy Partners December 8, 2009 Wells Fargo Securities Pipeline & MLP Symposium
Cash Available for Distribution ( millions) Three Months Ended Nine Months Ended September 30, September 30, 2009 2008 2009 2008 Adjusted EBITDA 33.5 16.8 84.0 58.6 Add: Cash Available for Distribution from Gulfstream 14.4 12.8 32.6…
3rd Quarter and Year-to-date Earnings Summary ( millions) Three Months Ended Nine Months Ended September 30, September 30, 2009 2008 2009 2008 STATEMENTS OF OPERATIONS Operating revenues 49.8 29.5 126.7 91.7 Operating expenses 23.7…
Appendix B Other Information Spectra Energy Partners December 8, 2009 Wells Fargo Securities Pipeline & MLP Symposium
Our Sponsor Spectra Energy Corp 2008 Natural Gas Pipeline Throughput 3.6 Tcf Miles of Transmission Pipe 19,100 Miles of Gathering Pipe 62,500 Spectra Energy Corp (NYSE: Miles of Distribution Pipe 37,000 Storage Capacity 285 Bcf SE)…
Spectra Energy Partners Eligible Holders As a result of certain FERC rate-making policies, we require an owner of our common units to be an Eligible Holder. Eligible Holders are individuals or entities subject to United States federal…
SEC Regulation G Spectra Energy Partners December 8, 2009 Wells Fargo Securities Pipeline & MLP Symposium
SEC Regulation G Non-GAAP Reconciliation for SEC Regulation G Presentation at the Wells Fargo Securities Pipeline & MLP Symposium December 8, 2009 Adjusted Earnings Before Interest, Taxes and Depreciation and Amortization (EBITDA) The…
Reconciliation of Net Income to Cash Available for Distribution Spectra Energy Partners, LP Adjusted EBITDA and Cash Available for Distribution September 2009 (Unaudited) (In millions) Spectra Energy Partners Reconciliation of…
Reconciliation of Net Income to Cash Available for Distribution (Gulfstream) Spectra Energy Partners, LP Gulfstream - Adjusted EBITDA and Cash Available for Distribution September 2009 (Unaudited) (In millions) Gulfstream…
Reconciliation of Net Income to Cash Available for Distribution (Market Hub) Spectra Energy Partners, LP Market Hub - Adjusted EBITDA and Cash Available for Distribution September 2009 (Unaudited) (In millions) Market Hub…
Reconciliation of Net Income to Cash Available for Distribution 2008 Spectra Energy Partners, LP Adjusted EBITDA and Cash Available for Distribution For the Year Ended December 31, 2008 (Unaudited) (In millions) Spectra Energy…
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