Fourth Quarter 2015 Conference Call February 11, 2016
Recent Developments Russ Girling, President & CEO 3
2015 Highlights Our 64 billion portfolio of energy infrastructure assets performed well in a very challenging environment. Assets are underpinned by a cost of service regulated model or long-term contracts Generate predictable cash…
2015 Highlights The Keystone XL arbitrary and unjustified denial was extremely disappointing Keystone XL 2.9 billion after-tax, non-cash impairment charge and certain other specific items resulted in a net loss attributable to common…
Dividend Growth Outlook Through 2020 Common Share Dividend Increased Nine Percent to 2.26 Per Share Annually* 810% CAGR 2.26* 7% 2.08 1.92 CAGR 0.80 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15…
NGTL System Expansions Last November we announced a 600 million expansion for 2018 that includes multiple NGTL projects NGTL System now has 5.4 billion of new supply and demand facilities targeted for completion by 2018 Also…
Mexico Natural Gas Pipelines In November 2015 awarded contract to build, own and operate US500 million Tuxpan-Tula pipeline Construction expected to begin in 2016, pipeline should be operational in Q4 2017 US1 billion Topolobampo…
ANR Pipeline ANR filed a Section 4 Rate Case in late January that requests an increase to maximum transportation rates Changes to ANRs traditional supply sources and markets, operational changes, needed infrastructure updates and…
Northern Courier Pipeline Construction of the Northern Courier project continues The 1 billion project consists of a 24-inch bitumen pipeline and a 12-inch diluent pipeline that will run between the Fort Hills Mine and Suncors…
Grand Rapids Pipeline Construction progressing on the Grand Rapids Pipeline Project Joint partnership with Brion Energy with each party owning 50 per cent of the pipeline 20 and 36 pipelines Phase I (900 million) is expected to be…
Bruce Power Agreement reached between Bruce Power and the Ontario Independent Electricity System Operator to extend the life of the facility to 2064 Our estimated investment: 2.5 billion in the asset management program, 4 billion…
Ironwood Power Plant On February 1 we completed the acquisition of the 778 MW Ironwood power plant in Lebanon, Pennsylvania for US657 million The acquisition is expected to be immediately accretive to earnings and cash flow and…
Napanee Generating Station Construction of the 1 billion, 900 MW combined-cycle, gas-fired plant in eastern Ontario now 24 per cent complete Facility will provide clean energy under a 20-year supply contract with the IESO…
Energy East Pipeline Project Qubec Atlantic Canada 400 kbbl/d 435 kbbl/d U.S. PADD I 1,200 kbbl/d Filed project amendment in December 2015 with NEB that adjusts proposed pipeline route, scope and capital cost of Energy…
West Coast LNG Projects Prince Rupert Gas Transmission 5 billion project Have all primary regulatory permits from BC Oil and Gas Commission and BC Environmental Assessment Office Pacific Northwest LNG waiting for positive…
Business Transformation The restructuring and business transformation initiatives we have been implementing since last fall continue Greater accountability and emphasis placed with our business unit leaders for decisions that…
Key Takeaways Track Record of Delivering Long-Term Shareholder Value 13% average annual return since 2000 Visible Attractive, Growing Strong Growth Portfolio Dividend Financial Position 13 billion through 2018 4.7% yield at…
Fourth Quarter 2015 Financial Results Don Marchand, EVP, Corporate Development & CFO 19
Consolidated Results of Operations (unaudited) (millions of dollars, except per share amounts) millions of dollars per share millions of dollars per share Three months Three months Twelve months Twelve months ended Dec 31 ended Dec…
Business Segment Results (unaudited) (millions of dollars) Three months Twelve months ended Dec 31 ended Dec 31 2015 2014 2015 2014 Natural Gas Pipelines Canadian Pipelines 645 646 2,298 2,318 U.S. and International Pipelines…
Other Income Statement Items (unaudited) (millions of dollars) Three months Twelve months ended Dec 31 ended Dec 31 2015 2014 2015 2014 Comparable EBIT (1) 1,075 1,105 4,143 3,910 Comparable interest expense(1) (380) (323)…
Comparable Distributable Cash Flow (unaudited) (millions of dollars, except per share amounts) Three months Twelve months ended Dec 31 ended Dec 31 2015 2014 2015 2014 Funds Generated From Operations(1) 1,159 1,178 4,513 4,268…
Investing Activities (unaudited) (millions of dollars) Three months Twelve months ended Dec 31 ended Dec 31 2015 2014 2015 2014 Investing Activities Capital spending 1,216 1,452 4,429 4,337 Contributions to equity investments…
Financial Position Remains Strong Consolidated Significant financial flexibility Capital Structure* (at December 31, 2015) A grade credit ratings with stable outlook 850 million cash on hand 7 billion of undrawn committed credit…
2016 Earnings Outlook 2016 comparable earnings expected to be higher than 2015 2016E vs 2015A Natural Gas Pipelines Canadian Mainline NGTL System U.S. and International Liquids Pipelines Keystone System Energy Western Power…
TransCanada Key Takeaways Resilient business model and blue-chip portfolio produced strong comparable fourth quarter and full-year financial results Quarterly common share dividend increased nine per cent Well positioned to fund 13…
Question & Answer Period Russ Girling Don Marchand Alex Pourbaix Karl Johannson Paul Miller Bill Taylor Glenn Menuz David Moneta 28
Fourth Quarter 2015 Conference Call February 11, 2016
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