PEMBINA PIPELINE CORPORATION DOING THE IMPORTANT THINGS RIGHT September 2015 Corporate Update Presentation TSX: PPL; NYSE: PBA
Pembina: a unique investment opportunity Pure play energy infrastructure company that allows investors to participate in the oil and natural gas Common shares outstanding(1) 345 million liquids industry across Canada and North…
Our assets and businesses at a glance Gas Processing Plant Conventional Pipelines Redwater Fractionator 8,938 km network transports hydrocarbon Midstream Storage Facility products and extends across much of Alberta Truck Terminal…
Integrated, customer-focused value chain Conventional Gas/HVP Value Chain: Gas Services Pipelines Midstream Gathering and processing Mainline Extraction Transportation on Conventional Pipelines Gathering, Fractionation at…
Our assets and businesses operate in prolific geology ALBERTA SASKATCHEWAN OIL SANDS MONTNEY (Resource life 200+ years) (Resource Life TAYLOR 170 years) FORT MCMURRAY SEAL & PELICAN LAKE DEEP BASIN SWAN HILLS (Resource…
We are pursuing a fee-for-service growth portfolio Projects (all fee-for-service) Capital (CMM) Phase II NGL/Crude Expansions 670 Relative Growth Project Portfolio Phase III Pipeline Expansions(1) 2,440 NEBC Expansion(1) 220 40% 38%…
Project timelines & in-service dates Committed Capital Expected In-Service Date* Expected Project Timelines* Musreau III 4,500 4,000 1.3 Other billion of capital expected to be put into service in 2015 3,833 Saturn II SEEP…
We are committed to a low risk business platform 700-1,000 million of potential incremental EBITDA generated per year on a run-rate basis once Pembina's committed projects are all in-service(1) 12% - 1% - 3% 2% 19% 14% 23%…
Evolution of Pembinas acquisitions EV/NOI multiple at acquisition date Current EV/NOI multiple 11.6X 11.6X 11.3X 10.0X 10.0X 9.8X 8.6X 8.4X 6.8X 7.1X Cutbank Edmonton Provident Vantage Weighted Cutbank Edmonton Provident…
Dividend growth supported by growing cash flow 5.8% 2.50 2.00 9.1% ACFPS(1) CAGR in BBB CAGR in Dividend per Share 2005 2014 2005 2014 1.50 1.00 0.50 - 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Dividends…
BUSINESS OVERVIEW
Contract overview by business Conventional Pipelines Gas Services Pembina is flexible to offer commercial framework to support customers Pembina is flexible to offer commercial framework to support customers needs needs Standard terms…
Conventional Pipelines overview Pipeline operational excellence: 99% reliable ALBERTA Proximal to prolific geology FORT TAYLOR DUNVEGAN MCMURRAY Q2 2015 throughput: 603 mbpd (5% increase from Q2 2014) FORT ST JOHN 2014…
Our throughput continues to grow Solid industry performance and strategically located assets have led to strength in Pembina's throughput profile February 2015: reached a weekly all-time high peak throughput of over 650,000 bpd 618…
Phase III Expansion, Phase II Expansion and Lateral Program ALBERTA Phase III Expansion Phase II HVP& LVP Expansions Phase III Expansion (under construction) Project consisted mainly of pump stations, Completed Phase III Expansion…
Vantage Pipeline acquisition & expansion Vantage Pipeline, SEEP and Vantage Expansion Acquisition cost: 730 million(1) 700 km ethane pipeline originates in Tioga, North EDMONTON Dakota and terminates near Empress, Alberta Fort…
Expansions could bring Alberta capacity to 1.5 million bpd 1,600 1,508 mbpd 1,400 1,200 420 1,000 (mbpd) 800 55 53 52 40 600 175 400 200 453 Pre-Expansion Phase I Phase II Phase III Phase III (Ultimate…
Oil Sands & Heavy Oil overview Syncrude Pipeline Operational excellence Horizon Pipeline Cheecham Lateral 99+% reliable over operating history Nipisi Pipeline Mitsue Pipeline Diverse connectivity to various industry hubs for crude…
New Horizon Pipeline System expansion Pembina plans to expand the existing Horizon Pipeline System to 250 mbpd as requested by the anchor tenant CNRL1 Expansion includes upgrading of mainline pump stations and other facility…
Gas Services overview Operational excellence ALBERTA 96% reliable Positioned in active and emerging NGL rich plays FORT MCMURRAY Provide gas gathering, compression and shallow/deep cut processing services Seven facilities in…
Growing volumes in Gas Services 700 Resthaven & Musreau II: in service Q4 2014 600 500 Saturn I: in service Q4 2013 400 MMcf/d 300 200 100 - 2009 2010 2011 2012 2013 2014 Q1 2015 Q2 2015 Gas processing…
NGL fractionation growth 300 250 RFS II mbpd New 415 million 73 mbpd C2+ fractionator 250 Committed take-or-pay revenue streams for 10-year 55 term from in-service date, for 97% of the operating 200 capacity 9 Expected on-stream…
Terminalling services for Sturgeon Refinery Provide terminalling services for Sturgeon Refinery (North West Redwater Partnership) under a 30-year fixed return agreement and a 10-year NGL mix purchase and sale agreement related to RFS…
NGL salt cavern storage potential Substantial storage cavern 40 38 development potential MMbbls 35 30 Cavern development: (MMbbls) 25 At Redwater 20 2.6 15 15 caverns in-service 10 17.5 6 in development 5…
Crude Oil Midstream overview ALBERTA Develop and provide terminal, hub & storage services to support the energy industry FORT MCMURRAY 630 mbbl of above ground crude oil and TAYLOR condensate storage capacity, with 550 mbbl under…
Our assets are well-positioned and interconnected CANADIAN DILUENT HUB Crude oil Dilbit Synthetic Crude Diluent Heavy Export Red indicates Pembina-owned existing and proposed pipelines and connections Dashed lines and/or…
STRONG FINANCIAL PLATFORM
Financing objectives Finance growth 50/50 debt/equity Maintain BBB rating with conservative balance sheet metrics Manage through the investment cycle Ensure ample liquidity to fund capital program Ensure financing flexibility to…
Access to capital at attractive rates Medium term notes (2013-YTD) Preferred shares (2013-YTD) Common shares (2013-YTD) 700 700 700 600 600 600 600 600 600 500 500 500 Millions() 400 Millions() 400 345 MM 400 321…
Funding plan and capital structure is equipped for growth Funding Plan at July 31, 2015 Capital structure at July 31, 2015 (1) 4,500 4 billion (2015 2018) 4,000 27% 3,500 Debt 3,000 2,500 MM Capital Preferred 9% 61%…
Our businesses in 2018 Now In 2018. Conventional Pipelines Largest conventional crude oil and NGL feeder system in Canada 8,938 km network 12% increase in km (adding 1,120+ km with Phase III and laterals) Fox Creek to Namao capacity…
We continue driving shareholder value 487 % total shareholder return* * Jan 1, 2005 Dec 31, 2014, inclusive of dividends reinvested 5.8 % CAGR in dividends per share* * 2005 - 2014 3.4 billion in dividends paid since…
Key take-away: we are doing the important things right Assets Growth Stable Well-financed Responsible Value Strategically Sector leading Growing our Strong Working for History of located growth highly balance the interests…
Non-GAAP and additional GAAP measures This presentation uses certain terms that are not and the additional GAAP term operating alternative to net earnings, cash flow from defined by GAAP but are used by management margin (gross profit…
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