Fourth Quarter 2016 Financial Results and Business Outlook February 16, 2017
Russ Girling President & CEO
2016 A Transformational Year Acquired Columbia Pipeline Group for US13 Billion Created one of North Americas largest natural gas transmission businesses Agreed to Acquire Columbia Pipeline Partners LP Common Units US915 million…
Financial Highlights Three Months Ended December 31 (Non-GAAP) Comparable Comparable Comparable Funds Earnings per Share* EBITDA* Generated from Operations* (Dollars) (Millions) (Millions) 17% Increase 24% Increase 16% Increase…
Financial Highlights Twelve Months Ended December 31 (Non-GAAP) Comparable Comparable Comparable Funds Earnings per Share* EBITDA* Generated from Operations* (Dollars) (Millions) (Millions) 12% Increase 13% Increase 7% Increase…
Common Share Dividend Increased 10.6 Percent Quarterly dividend of 0.625 per share 10.6% Equivalent to 2.50 per share annually* Increase 2.50* 2.26 7% 2.08 CAGR 1.92 0.80 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10…
Where We Are Today Proven Strategy Low Risk Business Model Over 95% of Comparable EBITDA derived from regulated assets or long-term contracts following monetization of U.S. Northeast Power business Diversified High-Quality Assets…
TransCanada Today One of North Americas Largest Natural Gas Pipeline Networks 91,500 km (56,900 mi) of pipeline 653 bcf of storage capacity 23 bcf/d; 25% of continental demand Premier Liquids Pipeline System 4,300 km (2,700 mi)…
23 Billion Commercially Secured Near-Term Capital Program Estimated Invested to Expected Project Capital Cost* Date In-Service Date* Columbia US7.1 US1.2 2017-2020 NGTL System 5.4 0.8 2017-2020 Canadian Mainline 0.3 0.1…
Columbia Premium Natural Gas Pipeline Network Strong incumbency position in U.S. Northeast Well positioned to connect Marcellus and Utica supply to domestic and LNG export markets Realizing US250 million of annualized benefits with…
Diversified Portfolio of U.S. Natural Gas Pipelines Well-positioned with access to multiple supply basins and large market areas ANR to benefit from rate case settlement which includes US837 million of maintenance capital for…
NGTL Systems Unparalleled Position Primary transporter of WCSB supply Field receipts averaged 11.3 bcf/d in 2016 Intra-Alberta peak day deliveries in excess of 6.5 bcf/d Key connections to Alberta and export markets System provides…
Canadian Mainline Connecting North American Gas Supply to Market Western Mainline Eastern System LDC Settlement created long-term stability and reduced risk Agreement runs through 2020; Eastern System supported by…
Mexico Solid Position and Growing Four revenue-generating pipelines Tamazunchale Guadalajara Mazatln Topolobampo Three new projects expected to enter service in 2018 will increase portfolio to US5 billion Tula US0.6 billion Villa…
Keystone A Premier Liquids Pipelines Business Hardisty Keystone Pipeline System 545,000 bbl/d of long-term, long-haul Receipt Facilities contracts with fixed monthly payments Delivery Facilities Terminal Facilities Transports 20% of…
Building a Regional Liquids Pipeline System Construction of 1 billion Northern Liquids Pipelines (In development) Courier advancing Liquids Pipelines (Under Construction) Terminal Facilities 25-year contract with Fort Hills…
Well Established Energy Platform Alberta PPA terminations now fully settled U.S. Northeast Power asset sales expected to close in first half 2017 Balance of portfolio underpinned primarily by long-term contracts with solid…
Bruce Power Cost Effective, Emission Free Power 48.5% ownership interest Power sales contracted through 2064 with the Ontario IESO Integral to Ontarios long-term energy plan 6.5 billion* investment through 2033 to refurbish and…
Columbia Acquisition & Near-term Capital Program Drive Significant Growth 9.3 Billion Merchant Energy Contracted Energy 10% CAGR Liquids Pipelines Mexico Natural Gas 5.9 Billion Pipelines Merchant Energy Contracted Energy…
Dividend Growth Outlook Through 2020 Expect Annual Dividend Growth at the Upper End of 8 to 10 Percent Range 2.50* 2.26 2.08 '15 '16 '17E '18E '19E '20E Supported by Expected Growth in Earnings and Cash Flow and…
45 Billion+ of Commercially Secured Long-Term Projects* Bruce Power Life Extension Agreement First of six MCR outages occurs in 2020 Expected investment of 5.3 billion post 2020 Extends operating life of facility to 2064 Four…
Don Marchand Executive Vice President & CFO
Consolidated Results of Operations (unaudited) (millions of dollars, except per share amounts) Three months Twelve months ended December 31 ended December 31 2016 2015 2016 2015 Net (Loss)/Income Attributable to Common Shares (358)…
Business Segment Results(1) (unaudited) (millions of dollars) Three months Twelve months ended December 31 ended December 31 2016 2015 2016 2015 Comparable EBITDA(2) Canadian Natural Gas Pipelines 599 636 2,246 2,258 U.S. Natural…
Other Income Statement Items(1) (unaudited) (millions of dollars) Three months Twelve months ended December 31 ended December 31 2016 2015 2016 2015 Comparable EBITDA(2) 1,890 1,527 6,647 5,908 Depreciation and amortization (514)…
Comparable Distributable Cash Flow (unaudited) (millions of dollars, except per share amounts) Three months Twelve months ended December 31 ended December 31 2016 2015 2016 2015 Comparable Funds Generated From Operations(1)…
Where We Are Today Base Business is Performing Very Well Produced record comparable results in 2016 Resilient business model and blue-chip assets built for all phases of the economic cycle Solid Financial Position A grade credit…
Commercial and Financial Variability Volumetric Spot movements on southern portion of Keystone System Availability at Bruce Power Commodity Alberta cogens and non-regulated natural gas storage Substantially reduced exposure upon…
2017-2019 Capital Expenditure Outlook Billions 10 8 Approximately 22 billion to be invested over the next three years related to: 6 Near-term growth portfolio Maintenance capital of 3.8 billion 4 Interest during construction…
Funding Program for Near-Term Growth Portfolio Billions 35 Portfolio Management 2017 2019 Outlook 30 including TCP Dropdowns, Dividends and NCI ATM (as appropriate) & Other Numerous Levers Available to Fund Distributions…
2017-2019 Debt Maturity Profile Debt Maturities in Home Currency* (2017-2019) 9 billion committed and Billions undrawn credit lines 3 Well supported commercial paper programs 2 Canada 2.0 billion U.S. US2.5 billion Access to…
23 Billion of Near-Term Projects Drive Significant Growth Comparable EBITDA Outlook* 2015 2020E Billions 10 10% CAGR 9 Energy Liquids Pipelines 8 Mexico Other U.S. Canadian Gas Gas Gas Pipelines Pipelines Pipelines 7 6…
Stability and Longevity of Core Asset Base + 23 Billion of Visible Growth with Upside Comparable EBITDA (Billions) 12 10 8 Generated by predictable cost of service and long-term contracted 6 cash flow streams supported by:…
Dividend Coverage Ratios and Maintenance Capital Outlook Through 2020 Dividend Coverage Outlook Maintenance Capital Outlook (Based on Comparable DCF per share) Net of Maintenance Capital, Strong Coverage Ratios Majority of Which…
Key Takeaways Track Record of Delivering Long-Term Shareholder Value 14% average annual return since 2000 Visible Strong Attractive, Growing Growth Portfolio Financial Position Dividend 23 billion to 2020 4% yield A grade…
Fourth Quarter 2016 Financial Results and Business Outlook February 16, 2017
Appendix Reconciliation of Non-GAAP Measures (millions of dollars) Three months Twelve months ended December 31 ended December 31 2016 2015 2016 2015 Comparable EBITDA(1) 1,890 1,527 6,647 5,908 Depreciation and amortization (514)…
Appendix Reconciliation of Non-GAAP Measures continued (millions of dollars, except per share amounts) Three months Twelve months ended December 31 ended December 31 2016 2015 2016 2015 Net Cash Provided by Operations 1,575 1,196…
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