2016 TD Securities London Energy Conference January 11, 2016
Leading North American Infrastructure Company Liquids 27,600 km of pipeline 2.85 mmbpd mainline capacity 3.5 mmbpd market connected Gas Distribution 2.1 million customers 420 bcf/year distributed 115 bcf gas storage Gas…
Well Positioned to Manage Through Turbulent Markets Low risk business model designed to withstand volatile commodity price environment Executing secured growth program and growing free cash flow Strong financial position and…
Fundamentals Remain Strong notwithstanding challenging market conditions Quarterly Throughput Mainline at full capacity; 3.0 2.5 ex Gretna (mbpd) 19% over-subscribed in December 2.0 1.5 1.0 Record 2,460 kbpd in December 0.5…
Low Risk Business Model insulated from low commodity price environment Earnings At Risk* at Nov…
Strong Counterparty Credit Profile Major liquids pipelines systems underpinned by strong, investment grade customers Mainline Top 10 Shippers Regional Oil Sands Top 10 Shippers Shipper 1 AAA/Aaa Shipper 1 A-/A3 Shipper 2 A/Baa1…
Proven Project Execution 8 Billion of capital projects completed in 2015 underpinned by strong commercial constructs with highly creditworthy counterparties Estimated Recent Execution Highlights Commercial Projects Cost Support (…
Secured Capital Program 2016-2019 17 Billion of secured capital projects underpin industry leading cash flow growth through 2019 Estimated Commercial Projects Cost (B) Support 2016 JACOS/Nexen Hangingstone 0.2 Take-or-pay Life of…
Five-Year Funding Requirement Billions Growth Capital Program Projects coming into service 2015-2019 Base Funding Plan (2015-2019) Probability- weighted projects 38 Net Funding Requirement1 26.5 under development Total Equity…
Diversified Funding Sources Ready access to multiple sources of capital through a variety of financing vehicles Debt Hybrid Equity Can US Global Can US Global Can US Global ENB ENF / Fund EGD EPI EEP MEP Primary Potential…
Strong Financial Position Strong and stable credit ratings provide ready access to debt capital to fund growth capital EPI EGD ENB Fund EEP BBB BBB DBRS A A (High) (High) BBB Moodys N/R N/R Baa2 Baa2 Baa3 S&P BBB+ BBB+ BBB+ N/R…
Financial Flexibility Ample liquidity to manage through periods of capital market volatility Consolidated Liquidity ( nominal billions) 19B 18B 9B 9B available available liquidity liquidity Cash Unutilized Bank Lines…
Five Year Growth Outlook Base plan generates robust cash flow and dividend growth while maintaining strong coverage ACFFO* DPS Dividend Coverage 15-18% CAGR 14-16% CAGR 2x ACFFO 2x 1.86 / share 3.02 2014 2019 2015…
Strong Relative Value Proposition Superior growth, strong dividend coverage and reliable business model is not reflected in current valuation 20% ACFFO* per Share CAGR 2016 ACFFO* Coverage of Dividend ENB ENB 2 0% 0 20%…
Key Takeaways Low risk business model designed to withstand volatile commodity price environment Strong supply and demand fundamentals Strong competitive position Largely insulated from direct commodity exposure Executing secured…
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