We have a clear vision To be a leading North American energy infrastructure company with a focus in Canada and the northern and western United States 2
Natural gas renaissance drives our strategy Invest in and operate infrastructure providing clean and affordable energy to North America and Asia Utilities Our natural gas utilities deliver clean and affordable natural gas to homes…
A leading energy infrastructure company In 2014 we successfully completed Forrest Kerr hydroelectric facility The largest project in our history 10 billion1 2009 2010 2011 2012 2013 2014 Enterprise value 1 As of October 24,…
A strong foundation for continued growth Vertical integration GASGAS POWER POWER UTILITIES Operational expertise Strategic alliances Access to markets 2 Bcf/d 1,391 MW 5 Utilities of natural gas of power generation serving…
To 15 billion and beyond Poised to double 2014 2019 15+ 4 billion 2 8 1.5 billion 2014 1 Committed Development Evaluation 2019 Total assets Gas Utilities Power 1 As of September 30, 2014 (2015 2019 Growth capex) 6
Growing and improving our Utilities 2 billion Grow rate base Provide customers with a secure source of capital spend program clean energy 2015 2019 Economies of scale Billion Committed capital 1.0 0.5 0.0 2015E…
Growing and improving our Utilities Utility Growth projects Multi-year pipeline replacement & station refurbishment programs to ensure safe, reliable gas delivery systems Proposed Bedford Basin looping project will provide…
Growing our Power portfolio 1.5 billion capital spend program 2015 2019 Additional power Sonoran expansions (Blythe II) (Blythe III) McLymont Cogen III Committed Development Evaluation 9
16 MW Volcano Creek Powerhouse 2014 Milestone Status Construct powerhouse building Complete Install turbines Complete Intake Complete Complete weir and headrace canal Complete Install penstock Complete Install transmission…
66 MW McLymont Creek Ahead of schedule and on budget Powerhouse Milestone Status Complete intake access road Complete Complete 2.8 km tunnel Q1 2015 Construct intake and weir Q2 2015 Construct transmission line Mid-2015 and…
Doubling the existing 507 MW Blythe facility Blythe II (Sonoran) Acquired Sonoran project for US8.5 million in Q2 2014 Blythe III Gas-fired project; fully permitted and shovel ready Blythe II Potential to double the size of the…
Growing our Gas portfolio 4 billion capital spend program 2015 2019 Increase gas processing capacity Increase gas LPG exports processing capacity LNG exports Phase II & III Fractionation expansion Regional LNG LPG exports…
Gas revolution drives growth strategy New networks needed to process and deliver energy to new markets Liquids-rich plays offer producers opportunity to Montney and Duvernay estimated to have more realize higher netbacks than 3,000…
Gas strategy in action Competitive Need for new Acquired Idemitsu Kosan service offering; markets only natural Transportation joint venture strategic through gas pipeline logistics LPG export provides access alliance with energy to…
Processing and moving gas to key markets Significant processing and logistics capabilityprocessing Significant across North andAmerica logistics capability across North America LNG Significant growth opportunities through…
Well-head to markets: AltaGas LPG export offering Sourcing Logistics Markets RAW GAS Existing extraction, NGL Storage, rail & Ferndale processing & truck offloading2 Terminal1 fractionation Abundant natural gas New…
Growing our LPG business Ferndale Exporting LPG to Asia off US west coast 750,000 Bbls of current storage capacity Exported 3,000,0001 Bbls this year Ramping up to 30,000 Bbls/d over next few years Potential conversion of…
Well-head to markets: AltaGas LNG export offering Sourcing Logistics Markets Existing extraction, RAW processing & GAS fractionation Abundant natural gas New processing infrastructure ASIAN MARKETS PNG pipeline SALES LNG…
PNG pipeline provides competitive advantage Only existing natural gas pipeline that connects to Kitimat and Prince Rupert Shippers backstop development costs Rate base growth Lower costs to current customers British…
Advancing Canadian west coast LNG terminal Douglas Channel LNG project: Phase I 0.55 million tonnes per year British Columbia capacity Douglas Channel site Existing pipeline capacity on PNG Consortium to provide barge District Lot…
Consortium partners Gathering and processing Independent shipping Leading participant world- capacity and access to company serving the global wide in the LNG market; WCSB supply oil and gas industry; 35 offers services including…
Longer-term LNG export opportunities Triton LNG: Owned 50/50 by AltaGas and Idemitsu 2.3 million tonnes per year approved by NEB Site being secured 23
Meeting demand for processing infrastructure Pursuing 1 Bcf/d of new processing capacity in liquids-rich areas Build-out of natural gas and NGL processing infrastructure in northeast B.C. is expected 1 billion in investment…
Townsend 198 Mmcf/d shallow-cut natural gas processing facility Located in the Montney resource play; 100 kilometers north of Fort St. John Painted Pony Petroleum Ltd. has rights to a minimum 150 Mmcf/d of firm capacity…
Regional LNG facilities 250 million investment over five years Plan for achieving 500,000 gallons per day over five years: Dawson Creek: 20,000 gallons per day Growing natural gas distribution network complements gas…
Poised to double over the next five years 2014 2019 15+ 8 14 19 Total assets (Billions) Future projects 2015 2019 27
Growing stable, reliable cash flow Contracted and. Diversified growth 4B 2B 29% 1.5B 49% 23% Committed Development Evaluation Gas 1 Power Utilities Regulated Contracted Non-contracted Figures shown for the periods of 2015…
Strong growth in earnings and cash flow FFO per share1 Earnings per share1 3.45 1.44 1.07 2.69 2 2 2011 Current Forecasted 2011 Current Forecasted 1 Normalized 2 Based on a trailing twelve month period ending September…
Capacity to grow our dividend and reinvest cash flow FFO per share payout Cash flow for Cash flow for reinvestment reinvestment Dividend growth capacity Low double Payout digit range: dividend Current dividend 40% - 50%…
Creating shareholder value Strong 20 year track record of creating value TSR: 1,062%1 7.5 billion in growth opportunities Poised to double the companys asset value in next five years 47.00 Growth in earnings and cash flow per…
Appendix 32
Q3 2014 highlights Significant EBITDA growth Safely commissioned Forrest Kerr, the Million driven by new assets1 200 largest project in AltaGas history 180 15-year strategic alliance signed with 160 Painted Pony Petroleum Ltd.…
Strong track record of growth Normalized EBITDA Normalized Funds From Operations Million Million 600 500 500 400 400 300 300 200 200 100 100 0 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TTM1…
Capital allocation program drives growth Disciplined in managing balance sheet and allocating capital Excess Normalized FFO available Million for capex and dividend growth 500 400 300 26% Excess FFO 200 Dividend Payout…
Investment grade credit ratings EBITDA to Interest Debt to Total Available Credit Capital Facilities 6.0x Million 70% 2,500 5.0x 60% 2,000 50% 4.0x 40% 1,500 3.0x 30% 1,000 2.0x 20% 1.0x 500 10% 0.0x 0% 0 1 1 1 2011 2012…
Balanced debt and capital structure Manageable capital structure1 Average debt maturity of 9 years2 Million 600 12% 500 400 45% 300 200 43% 100 0 Preferred Shares Common Shares Net Debt AltaGas Ltd. SEMCO PNG 1 As…
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