Strong History of Income and Growth 9 dividend increases 1 7.4% CAGR in dividends per share 2 21% compound annual total return to shareholders 2 1 Since going public in 2003. 2 From 2003 to March 31, 2011. 3
Company Snapshot Trading Symbols (TSX): KEY; KEY.DB.A Common Shares Outstanding1: 76,859,285 Share Price2: 40.62 Market Capitalization2: 3.1B Enterprise Value2: 3.6B Trading Volume3: 302,545 Monthly Dividend: 0.17 Current Yield2:…
One of Canadas Largest Midstream Operators Natural gas gathering and processing Remove impurities from the gas stream Separate into economic products NGL logistics services Fractionate Storage Terminalling NGL marketing…
A Rich History 1998 2000 2003 2004 2005 2011 2012 Gulf Canada KeySpan Corp. Begins trading Acquires Name changes Keyera Keyera acquires Resources buys Gulfs on the TSX EnerPro to Keyera Facilities Alberta EnviroFuels enters into…
Two Integrated Business Lines Gathering & Liquids Business Unit Processing NGL Infrastructure NGL Marketing Terminalling Gathering & Raw Gas Compression Processing NGL Fractionation End-use Customers Ethane NGL Wholesalers Mix…
Gathering and Processing Franchise Facilities West of 5th Meridian Large flexible processing plants Operate 15 of 17 gas plants Licensed capacity of 2.6 bcf/d 99% of capacity able to extract NGLs Sweet and sour gas processing…
Western Canada Sedimentary Basin A Prolific Natural Gas Basin Canada is home to some of the most economic natural gas plays in North Surface America Cardium Larger, liquids-rich gas reserves Notikewin being developed rapidly…
Liquids (NGL) Content in Gas Stream Supports Drilling Activity Equivalent Natural Gas Price Including Value of NGLs C/mcf 7.00 6.00 Liquids 5.00 Gas 4.00 3.00 2.00 1.00 0.00 Dry Gas Notikewin Hz. Wilrich…
North American Natural Gas Plays Breakeven Price and Liquids Content Breakeven Gas Price (US/Mcf) Natural Gas Liquids (Bbl/Mmcf) 6.50 200 6.00 U.S. Shale Plays WCSB Plays 180 5.50 Liquids Content 160 5.00 4.50 140 4.00 120…
Strong Producer Activity in West Central Alberta 3.5 billion spent on land sales in Alberta in 2011 to secure oil and gas mineral rights1, a 48% increase from 2010 Significant land sale activity in west central Alberta adjacent…
Hoadley Development Driving Rimbey Gas Plant Throughput Glauconite zone is one of the most economic gas developments in North America (60-70 bbls of NGLs per mmcf) 34% increase in throughput (to 300 Mmcf/d1) at Rimbey since…
Simonette Gas Plant In the Heart of the Deep Basin Producers in the area targeting liquids- rich gas plays (Duvernay, Montney and Wilrich) Strong land sale activity during past twelve months 83% increase in throughput (to 90…
Caribou Gas Plant - Montney Development Occurring in Area Progress/Petronas Joint Venture lands (Lily and Kahta) adjacent to Caribou gas plant Keyeras 105 Mmcf/d Caribou gas plant has available processing capacity Gas expected to…
Liquids Business Unit NGL Infrastructure and Marketing 17
NGL Infrastructure Available for NGL Production Growth NGL Infrastructure: providing services to NGL & producers at Canadas energy hub Fractionating NGL mix into ethane, propane, butane and condensate Storing NGLs, including…
Diluent Logistics Services A Business Driven by Oil Sands Growth Majority of future bitumen will be upgraded at locations outside of production areas Bitumen must be thinned with a lighter hydrocarbon, called diluent, for…
Providing Services to Kearl and Sunrise Oil Sands Projects Long-term fee-for-service arrangements with Imperial Oil and Husky for Kearl and Sunrise oil sands projects Kearl solvent services began December 2011 Kearl diluent…
Pursuing Additional Diluent Opportunities Keyera and Enbridge have announced two joint ventures to pursue diluent transportation initiatives Soliciting interest from oil sands producers to support construction of: South Cheecham…
Alberta EnviroFuels (AEF) Acquired Alberta EnviroFuels in January 2012 for US194MM plus working capital AEF manufactures iso-octane, a low emission, high octane gasoline blending additive AEF operating margin was 6.9 million in…
AEF Extends Keyeras Value Chain Butane is primary feedstock (AEF is an existing butane customer of Keyera) Existing Keyera NGL pipelines, storage and rail beneficial to AEF feedstock supply 80 acres undeveloped land for future…
NGL Market Factors Each NGL commodity has unique pricing dynamics driven by market forces Supply/demand dynamics Natural Gas Liquids in North America drives Ethane pricing in Western Canada Propane Seasonality can affect Butane…
NGL Marketing Product Sales & Markets Keyeras infrastructure and expertise provide access to high-value markets Propane - sold throughout western Canada and western U.S. (rail, truck & pipeline) Butane - sold into Alberta markets…
Q1/12 Results Gross throughput volumes in Gathering & Processing increased quarter-over-quarter, and year-over-year Strong contribution from fee-for-service business Record quarter in NGL Infrastructure for operating margin Second…
Stable, Diversified Cash Flow Millions Operating Margin1,2 300 NGL Margin-based Marketing 250 25% in 2011 (17% in Q1/12) 200 NGL Facilities 150 Fee-for-service 100 75% in 2011 Gathering & (83% in Q1/12) Processing 50…
Conservative Capital Structure Pro-forma post-equity and debt offering1, as at May 9, 2012 Recent equity and debt1 issuances Long-term debt 675 support liquidity and financial flexibility Working capital2 (178) Strong balance…
Keyeras Growth Strategy Near term organic growth opportunities Gas plant expansion and pipeline construction projects driven by liquids-rich gas development Fractionation and storage expansions to handle increasing liquids…
Summary Track record of steady value creation Stable cash flows with high proportion of fee-for-service revenues Strategically positioned to benefit from liquids-rich gas production Positioned to capitalize on growth in oil sands…
For Further Information Contact: John Cobb Director, Investor Relations 888-699-4853 irkeyera.com KEYERA 600, 144 4TH AVENUE S.W. CALGARY, ALBERTA T2P 3N4 WWW.KEYERA.COM
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