Enbridge Energy Partners, L.P. Third Quarter 2015 Earnings Presentation November 2, 2015 enbridg e p a rtn e r s . c o m
Agenda 1. Financial Results 2. Project Execution 3. Low-Risk Business Model EEP 4. Drop-Down Outlook 5. Looking Ahead Drop-downs from Sponsor 6. Question & Answer Delivering long-term sustainable value and growth to EEP…
Capital Expenditures and Available Liquidity Strong liquidity position to fund capital program 2015 Capital Expenditures ( millions) Available Liquidity Eastern Access1 70 Credit Facilities Cash Pro-forma 2,500 US Mainline Expansions1…
Executing on Funding Program Significant progress to secure funding Demonstrated access to capital markets 300 million equity closed March 2015 1.6 billion debt closed October 2015 Joint-funding with Enbridge enhances financing…
Low-Risk Business Model Delivers Stable Cash Flows Liquids pipeline business provides 90% of Partnerships distributable cash flow 2015e EBITDA (1) Cost of Service (Liquids Segment) Utility style regulatory model: return-of and…
Market Access Growth Projects 2015 growth projects on-track Organic growth projects deliver low-risk, highly certain cash flow growth Capital Timing 2015 Projects (MM)(1) Line 67 Mainline Expansion +230 kbpd 1 240 July 2015…
Matching Supply Push and Demand Pull Lakehead deliveries continuing to increase as additional market access projects enter service Regional takeaway: long-term take-or-pay EEP Lakehead System matches supply and demand Enbridge…
EEP Distribution Growth Potential Selective drop-downs enhance distribution growth outlook Enbridge evaluating Illustrative Distribution Growth Profile systematic future drop- downs to EEP (1) 5%+ EEP expects to exercise CAGR…
Looking Ahead Reliable, low-risk business model attractive in all market conditions Expected continued high utilization of our liquids pipeline systems Full year contribution from 2015 growth projects Final phase of Eastern Access…
Key Takeaways On-track to deliver high end of 2015 full-year financial guidance Meaningful cash flow contributions from growth projects; strong system deliveries Project execution Growth projects progressing Financial execution…