EMERA AT A GLANCE TICKER SYMBOL EMA (TSX) Five Year Annualized Total Shareholder Return 15.7% (For Period Ended May 31, 2015) (S&P TSX Utilities Index 8.7%) TTM Total Shareholder Return 26.1% (For Period Ended May 31, 2015) (S&P…
NOVA 4.49 billion EMERA 1.41 billion SCOTIA in assets MAINE in assets POWER 32% of earnings (100%) 11% of earnings (100%) 44.1% of assets 13.8% of assets RI RI Emera (Caribbean) EUS Bahamas EMERA 1.24 billion Incorporated(80.6%)…
Investor Presentation June 2015 Strategic Overview 4
EMERA STRATEGY MARKET OPPORTUNITY: Environmental Regs & Standards Demand For Cleaner Affordable Energy Social & Political Demand DRIVERS Fuel-Source Diversification Energy Independence & Stability EMERA STRATEGY: Leverage the…
Investor Presentation June 2015 Major Initiatives 6
LOWER CHURCHILL Phase 1 and Maritime Link MUSKRAT FALLS (MF) GENERATION & LABRADOR TRANSMISSION (LTA) 4.2 billion project value 824 MW hydroelectric facility 4.9 TWh/yr 100% Nalcor owned LABRADOR ISLAND LINK (LIL) 2.79 billion…
PROJECT COST CERTAINTY Maritime Link Cost Confidence 8% Contracts Negotiated & Costs Secured 14% Contract Prices in Hand & Owner's Costs Incurred to Date 78% Contracts to be Negotiated and Owner's Costs Remaining…
MAJOR ACTIVITIES IN 2014 & Q1 2015 TREE CLEARING ABENGOA AWARDED NEXANS AWARDED SUBSEA ABB AWARDED CONVERTER TRANSMISSION CABLE CONTRACT CONTRACT CONSTRUCTION CONTRACT 9
THE PROJECT: 2015-2016 Workforce to peak at 600 in 2016. Detailed designs of electrical systems & converters completed. Manufacturing of converters and transformers. 650 transmission towers to be delivered. Overland transmission…
THE PROJECT: 2017 Overland transmission line stringing completed, including fiber optics. Subsea cables delivered for installation, including burial & testing to follow. Converter Stations populated with AC-DC converters.…
NEW ENERGY LOOP ATLANTIC CANADA 12 12
NORTHEAST TRANSMISSION DEVELOPMENT MUSKRAT FALLS (MF) NEW ENGLAND ELECTRICTY GENERATION & LABRADOR ISLAND MARKET LABRADOR LINK (LIL) Strong interest in procuring TRANSMISSION (LTA) renewable energy from Northern Maine/Canadian…
EMERA MAINE / CENTRAL MAINE POWER MOU Emera Maine and Central Maine Power announced an MOU on July 7, 2014. The objective is to design and propose a more optimized AC transmission solution to collect and deliver large quantities…
GAS GENERATION IN NEW ENGLAND Facility Bridgeport Tiverton Rumford Capacity (MW) 560 265 265 Location Connecticut Rhode Island Maine Creating New Value Established Long-term Service Agreement with Siemens, the turbine…
GAS TO MARITIMES LOCAL MARKET Corridor Resources Canaport LNG Sable Offshore Energy Deep Panuke 16
GAS TO MARITIMES STRATEGIC FOCUS Source gas supply for Emeras Canadian Markets; Work is underway to examine the potential for each of the remaining supply sources. SUPPLY OPTIONS Marcellus supply via new and existing pipeline…
SMART GRID SMART GRID INITIATIVES Pursuing smart grid opportunities in Atlantic Canada, Maine & Barbados. These include: Oil displacement through heat pump initiatives; Heat pump installations now 20,000/year (Emera Maine &…
TIDAL POWER & OCEAN ENERGY Emera part of a group, led by OpenHydro (a DCNS company), to deploy multi-phase tidal array in Bay of Fundy. Goal is to develop a commercial tidal industry in the region. Phase: 1 (2015): 4 MW array. 2…
Investor Presentation June 2015 Financial Update 20
3.47B CAPITAL PLAN (Visible and Committed) 2015-2017 (in millions of CAD) 1,294 1,196 69 201 978 130 698 Other 539 377 Emera Newfoundland Base Utilties 527 471 456 2015 2016 2017 NOTES: Amounts exclude AFUDC 24
TIMING OF INVESTMENTS Maritime Link and Labrador Island Link (in millions of CAD) Maritime Link - Equity Maritime Link - Debt 431 Labrador Island Link - Equity 342 177 146 175 120 68 147 150 50 27 33 80 22 2011-2012…
VISIBLE EARNINGS GROWTH APPROXIMATE EARNINGS CONTRIBUTIONS IN MILLIONS OF CAD
FINANCING EMERAS CAPITAL PLAN Sources of Capital (2015 to 2017) Common Equity 0 to 0.25B FINANCING PLAN FOR 3.47B CAPITAL PLAN (2015 2017) 0.1 0.3B new MTN debt financing Preferred 0.3 0.7B new Preferred Share financing Financing…
EMERAS CAPITAL STRUCTURE AND FINANCING ACTIVITY Capital Structure FINANCING PLAN CONSIDERATIONS Q1 2015 9% ** Focus on driving cash flow & cash from internal sources Eye on rating agency metrics (FFO/Debt, Debt/EBITDA, Debt 48% %…
TARGET 1BILLION CAPITAL PER YEAR Project Pipeline Tiverton Upgrade Bay of Fundy Tidal 1,294 Smart Grid Investments 1,196 69 Transmission in Maine Other Maritime Gas Investments 201 Emera Newfoundland 978 Base Utilities 698 130…
SUMMARY WHY INVEST IN EMERA 75-85% regulated earnings target. STABLE EARNINGS Adjusted earning per share CAGR of 7.6% over last 5 years. 6% Annual Growth Rate target through 2019. DIVIDENDS Dividend Yield of 3.9%; Dividend per…
Contact Information Investor Relations Contact: Scott LaFleur, MBA, CMA Acting Manager, Investor Relations Direct: 9024286375 Email: scott.lafleuremera.com 31
Investor Presentation June 2015 Appendix 32
REGULATED ROE UTILITY RATE BASE ALLOWABLE ROE (BILLIONS) Nova Scotia Power 3.7 8.75-9.25% Emera Maine 0.8 10.6% BLPC* 0.2 10.0% GBPC* 0.3 10.0% DOMLEC* 0.4 15.0% *GBPC, BLPC and DOMLEC is return on rate base 33
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