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May 2017 Annual Meeting Presentation – Pembina Pipeline Corp

Pembina Pipeline Corp · May 5, 2017 · 19 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. May 2017 Annual Meeting Presentation – Pembina Pipeline Corp – slide 1
    Annual Meeting May 5, 2017 TSX: PPL; NYSE: PBA
  2. May 2017 Annual Meeting Presentation – Pembina Pipeline Corp – slide 2
    Highlights since 2016 Annual Meeting Safety 8.9 million hours worked safely by employees since 2014 (3rd consecutive year of no employee LTI) Financial results Record annual adjusted EBITDA of 1.2 BB and adjusted cash flow per share…
  3. May 2017 Annual Meeting Presentation – Pembina Pipeline Corp – slide 3
    Transaction highlights Near-term secured growth increases from One of Canada's 4 BB Low risk business to largest energy infrastructure platform 5.8 Bcf/d companies: 6 BB 85%+ of combined gas processing by 33 BB…
  4. May 2017 Annual Meeting Presentation – Pembina Pipeline Corp – slide 4
    Strong alignment in strategy Pembina's strategy Veresen's alignment Preserve value Both companies have a proven record of supporting safe, reliable and by providing safe, cost-effective, reliable services cost effective midstream…
  5. May 2017 Annual Meeting Presentation – Pembina Pipeline Corp – slide 5
    Key strategic rationale diversification Pembina Veresen Pro Forma 3% Conventional Pipelines 25% Operating Margin 34% 46% 27% Gas Processing 5% 53% (EBITDA) (2018)(1) 7% 70% 17% Oil Sands 13% Midstream (NGL & Crude) Gas NGL…
  6. May 2017 Annual Meeting Presentation – Pembina Pipeline Corp – slide 6
    MONTNEY (Resource Life 140 years) Combined Pembina and OIL SANDS (Resource Life 145 years) Veresen Asset Base DEEP BASIN FORT McMURRAY (Resource Life 40 years) SWAN HILLS PRINCE GEORGE CARDIUM (Resource Life 35…
  7. May 2017 Annual Meeting Presentation – Pembina Pipeline Corp – slide 7
    MONTNEY (Resource Life 140 years) OIL SANDS (Resource Life 145 years) Combined Pembina and DEEP BASIN FORT McMURRAY (Resource Life 40 years) Veresen Asset Base SWAN HILLS PRINCE GEORGE CARDIUM (Resource Life 35 years)…
  8. May 2017 Annual Meeting Presentation – Pembina Pipeline Corp – slide 8
    Integrated, customer-focused value chain Value chain extension opportunities Redwater + Empress East + Sarnia & Corunna Mainline Extraction, Fractionation, Distribution Propane Gas/NGL Via NGTL exports NGL Storage Fractionation…
  9. May 2017 Annual Meeting Presentation – Pembina Pipeline Corp – slide 9
    Creating the WCSB's largest third-party gas processor 7,000 In-service 5.8 Project under development 6,000 Bcf/d 470 5,000 4.2 897 60 100 Bcf/d 243 4,000 MMcf/d 3,000 2,088 2,000 325 234 400 1,000 250…
  10. May 2017 Annual Meeting Presentation – Pembina Pipeline Corp – slide 10
    Fractionation capacity across three NGL market hubs 350 300 Edmonton Sarnia, Ontario US Midcontinent Mbpd 300 250 56 250 Mbpd 20 18 200 Mbpd 55 150 73 100 (2012) 9 8 50 65 - RFS I RFS RFS C3+ RFS II RFS III…
  11. May 2017 Annual Meeting Presentation – Pembina Pipeline Corp – slide 11
    Hydrocarbon pipeline transportation capacity 3.2 3,500 Hydrocarbon Liquids Natural Gas MMboed 125 In-service 3,000 138 Project under development 330 Uncommitted Project 250 2,500 180 2,000 420 Mboed 230 1,500 389…
  12. May 2017 Annual Meeting Presentation – Pembina Pipeline Corp – slide 12
    Financial 'Guard Rail' considerations Pembina Pembina Combined (2015A) (pre-transaction) Maintain target of 80% fee-for-service 84% 87% 1 77% (2018 2022) (2018 2022) contribution to EBITDA 15% FFO / 20% FFO / 20% FFO / 2…
  13. May 2017 Annual Meeting Presentation – Pembina Pipeline Corp – slide 13
    Larger and stronger together Total enterprise value (BB)(1) Relative peer positioning (EV BB)(2) 35 Veresen Pembina 33 Market Capitalization Net Debt 30 106 105 Pro Forma 23 25 20 45% 15 Increase 10 5 - Current Combined 2018…
  14. May 2017 Annual Meeting Presentation – Pembina Pipeline Corp – slide 14
    We are committed to a low-risk business platform Summary of operating margin by type (MM)(1) Total fee- Total fee- Total fee- Total fee- Total fee- based = based = based = based = based = 77% 77% 80% 83% 86% 3 4% 3 10% 4% 16%…
  15. May 2017 Annual Meeting Presentation – Pembina Pipeline Corp – slide 15
    Pembina's financial outlook and considerations Capital expenditure funding Financing considerations 2014 2015 2016 2017 2018 3.0 2017 / 2018 Capital Commitment to Pembina's financial objectives: 3.5 BB Financing growth 50% debt /…
  16. May 2017 Annual Meeting Presentation – Pembina Pipeline Corp – slide 16
    Pembina is on very strong growth trajectory Historical Adjusted EBITDA and 2018 Outlook 2.55 BB to 2.75 BB 1.8 BB to 1.9 BB 1,189 983 920 Contribution from growth projects Commodity prices 2014 2015 2016 2018 2018…
  17. May 2017 Annual Meeting Presentation – Pembina Pipeline Corp – slide 17
    Robust combined capital program Combined capital expenditure considerations 0 (Unsecured Growth) Pembina 0 Veresen 0 20 BB 0 Jordan Cove (Secured Growth) Alliance Expansion 0 PDH / PP Facility Peace Expansion 6 BB Export…
  18. May 2017 Annual Meeting Presentation – Pembina Pipeline Corp – slide 18
    We continue driving shareholder value (past 10 years) 5% Dividend growth rate(1) 440% 8 - 10% Total shareholder Target adjusted return(2) cash flow per share growth 18% Share price 5.1 BB compound annual in dividends paid…
  19. May 2017 Annual Meeting Presentation – Pembina Pipeline Corp – slide 19
    Conclusions Proven history of safe and reliable operations while developing enduring relationships with local communities Our long-term strategy remains unchanged and continues to create significant shareholder value Committed…

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