TD Securities London Energy Conference January 2016
AltaGas profile Well positioned with a substantial total enterprise value and an attractive diversified mix of business lines Millions Enterprise Value3 25,000 TSX: ALA CAD Common shares outstanding1 145 million 20,000 Common share…
Well diversified energy infrastructure Segment EBITDA1 2 Bcf/d of natural gas transacted 25% Processing and moving natural gas Contracted 35% Midstream and natural gas liquids to key Utilities markets including Asia 40% 50%…
Consistent and diversified EBITDA growth Successful track record of delivering EBITDA growth over time Millions EBITDA 800 600 400 200 0 2010 2011 2012 2013 2014 2015 F + GWF* Midstream Power Utilities…
Contracted EBITDA with strong counterparties Substantial increase in long-term We have a diversified counterparty contracted and utility EBITDA exposure which is primarily investment grade quality 2010 2016F 1% 100% 0% 9% 40%…
Capital allocation to maximize shareholder value Track record of allocating capital in an efficient manner to maximize risk adjusted returns Millions 1.7 billion 600 million Millions 2,500 completed under construction 1,800…
Well defined growth opportunities across all three business segments 2016 2020 Growth capex 2.2B Pomona 1.8B Sonoran Sonoran & DCLNG Blythe III Alton Liquids separation Processing facilities facilities 0.8B Processing…
Committed projects fully contracted 50% EBITDA growth 2015F GWF Utilities McLymont Townsend Alton 2020F 7 year PPAs with Regulated stable 60 year EPA with 90% Take or Fully contracted PG&E returns in BC Hydro Pay with Painted…
2016 Funding sources and uses of cash Credit facility capacity ( billions) DRIP Bank Bankliquidity, Term Bank liquidity, liquidity, Term Debt, Term shares, Preferred debt, debt, Preferred shares, Preferred shares, Capex…
Sound financial position Strong balance sheet Debt-to-capitalization Executed financing history 70% Millions Target 2,500 60% 50% 2,000 40% 1,500 30% 1,000 20% 500 10% 0% 0 2010 2011 2012 2013 2014 Q3 2015 2011 A 2012 A 2013 A…
Delivering growth and security Dividend payout1,2,3 Payout ratio balances company 56% growth and investor return and 49% 51% 46% 45% positions ALA for further dividend 42% growth 12% increase in dividend in 2015 2010 2011 2012…
Valuation multiple Attractive value for AltaGas, combined with sustainable dividend payment 2016F Payout ratios vs. P/AFFO1 2016F Total payout ratio2 P/AFFO/Sh 350% 20 x 300% 18 x 250% 16 x 200% 14 x Keyera Enbridge IF 150% 12 x…
Committed to creating shareholder value Attractive yield + growth CFPS CAGR 1 7 10% Yield 4 6% Total 11 16% 5 year total shareholder return achieved2 CAGR Cumulative Return 13% 78% 1 Based on achieved growth rates over…
Over 1 billion investment in clean power Expanding our clean energy footprint into northern California Tracy 330 MW US 642 million Sonoran (Blythe II) acquisition of Development Tracy, Hanford CAISO has stated and Henrietta…
Delivering clean and affordable energy System betterment program and upgrades underway at all Utilities Implementation of Automated Meter Reading and Meter Data Management systems Multi-year pipeline replacement program…
Capital spend in Utilities: 2016 2020 650 million increase in rate base over the next five years1 Millions 800 700 Utilities 600 500 400 300 200 100 6 - 7% CAGR 0 1 2 3 4 5 6 7 8 9 10 2016F 2017F 2018F 2019F…
Building infrastructure to serve new markets From wellhead to markets Existing assets Growth projects North Rail, truck Fort Sask. American Definitive project & hub2 Markets agreement NGL Storage, rail & truck offloading2…
Stable production volumes & throughput Production volumes High grade asset base with core plants in sustainable plays that drive growth Blair Creek 2014 60 Mmcf/d 2015 65 Mmcf/d Gross Annual Throughput Mmcf/d 1,600 Gordondale…
Sustainability of Montney gas region Trend in drilling in the Montney Gas volumes from the Montney remains positive compared to the expected to exceed 6 bcf/d by 20201 previous 10 years Drilling forecast1 Production volumes1…
Growth opportunities in northeast British Columbia 2016 Increase gas processing capacity 198 Mmcf/d Townsend I under construction; in service expected mid-2016 2017 - 2018 Liquid separation capacity Liquid separation facility near…
Townsend phase 1: under construction 198 Mmcf/d shallow-cut natural gas processing facility enhanced with logistical infrastructure and gathering systems Townsend plant and associated infrastructure: 325 - 350 million Processing…
Fort St. John hub development Development of a liquids separation and processing facility to serve producers in the Montney 20,000 Bbls/d of C3+ and 20,000 Bbls/d of C5+ liquids separation and processing capacity High potential…
Clear LPG shipping cost advantage to Asia Key to long-term sustainability will be cost competitiveness to other North American basins Mb/d Global LPG demand growth led by Asia2 12 8 4 0 2010 2011 2012 2013 2014 2015 2016 2017…
Attractive LPG market fundamentals Propane Price Comparison Propane price netback at Fort Saskatchewan (US/Gal)1 USD/Gal 2.00 Fort Saskatchewan current market MTB less 20 to 30 1.75 1.50 Fort Saskatchewan if one new PDH plant…
LPG exports moving forward Ferndale continues to surpass Definitive project agreement and land sub- expectations lease for the development of a propane Exporting LPG to Asia export facility in British Columbia Expected on-stream date…
Douglas Channel LNG Image for illustrative purposes only See forward-looking statements & information 26
Key takeaways Strong customer focus Committed to lowering costs and unlocking value for producers Proven track record of optimizing, debottlenecking and adding new lines of business to existing facilities Collaborative approach…
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