Mainline Competitive Position Expected to be highly utilized through 2021 and beyond Mainline expansion capability to WCSB Capacity Outlook (KPBD) serve downstream markets 6,000 Enbridge Incremental CAPP 2017 Capacity Expansions…
Progress Update - Line 3 Replacement Critical infrastructure replacement Edmonton Construction progressing well in Canada & Wisconsin Hardisty Minnesota regulatory process ongoing Kerrobert Target ISD 2H19 Regina Completed…
Enterprise-wide Secured Growth Project Inventory 31B of diversified low-risk projects Project Expected ISD Capital (CB) Project Expected ISD Capital (CB) Regional Oil Sands Optimization, High Pine 1Q18 0.4 CAD Athabasca Twin in service…
Ontario Gas Distribution Utilities Update Filing application for amalgamation Mergers, Amalgamations, Acquisitions and Divestitures (MAAD) application to be ON filed today with the Ontario Energy Board QC Union Gas Indicative Terms:…
Q3 2017 Consolidated Adjusted EBIT Performance Liquids Pipelines Adjusted EBIT (C Millions) 3Q16 3Q17 Spectra Energy assets Liquids Pipelines 941 976 Higher throughput on Canadian Mainline Higher FX hedge rate on Canadian Mainline…
ENF & Fund Group: Q3 2017 Financial Summary (C millions, except per share amounts) 3Q16 3Q17 FY 2017 Guidance 3Q17 vs. 3Q16 Fund Group ACFFO Analysis Fund Group ACFFO 448 488 1,900 - 2,100 Higher residual toll and higher Distributions…
Spectra Energy Partners (SEP): Q3 2017 Financial Summary (US millions, except per unit amounts) 3Q16 3Q17 FY 2017 Guidance 3Q17 vs. 3Q16 Analysis Ongoing EBITDA 469 554 - Higher due to expansion projects- AIM, Gulf Markets, NEXUS,…
Enbridge Energy Partners (EEP): Q3 2017 Financial Summary (US millions, except per unit amounts) 3Q16 3Q17 2017 Guidance2 3Q17 vs. 3Q16 DCF Analysis Stable performance of the Adjusted EBITDA 457 426 1,580-1,680 Lakehead system…
Funding Status Execution Progress On-going Access to Capital C Billion1 YTD 2017 Equity and Equivalent2 Unsecured Debt Ratings4 ENB Common Shares (DRIP) 0.9 Standard & Poors BBB+ (stable) Sponsored Vehicles (ATM/DRIP) 0.3 Hybrid…
Year to Date Progress Continuing to execute on the plan On track for 2017 ACFFO/share guidance Integration and synergy realization 12B projects to be brought into service in 2017 Raised over 10 billion of capital, including 3B…
18
Q&A
Enbridge Income Fund Holdings Inc. Third Quarter 2017 Supplemental Slides Investor Relations Adam McKnight 403-266-7922 adam.mcknightenbridge.com
Fund Group: Available Cash Flow from Operations (C Millions) 3Q16 3Q17 Liquids Pipelines 366 408 Gas Pipelines 48 49 Green Power 27 21 Eliminations and Other 15 13 Adjusted earnings before interest and tax 456 491 Depreciation…
Fund Group: 2017 Outlook (as presented February 17, 2017) Fund Group 2017 ACFFO Secured Growth Projects in Execution C millions PROJECTS EST. COST (B) 2,100 JACOS Hangingstone 0.2 2017 1,900 Norlite Diluent Pipeline 0.9…
Fund Group: Key Balance Sheets Metrics & Funding Progress April 2016 09/30/17 0.6B Consolidated Fund Group Leverage 43.4% ENF common share offering Consolidated Fund Group Debt/EBITDA 5.7x December 2016 Enbridge Income Fund Credit…
Significant Dividend Income Dividend per Share Potential Growth Beyond 2014 2019e 2019 2.50 Low cost, phased expansions of the Mainline 2.00 2.05 1.87 Alliance pipeline expansion 1.50 1.59 Right of first offer with ENB on 1.40…
Investor Value Proposition Premier Canadian Energy Infrastructure Income Investment Outstanding Low risk Visible growth Strong sponsor asset footprint business model High quality, strategically Minimal commodity price 10% annual…
Spectra Energy Partners Third Quarter 2017 Supplemental Slides Investor Relations Roni Cappadonna 713-627-4778 Roni.Cappadonnaenbridge.com
Spectra Energy Partners (SEP): Ongoing Distributable Cash Flow (US Millions) 3Q16 3Q17 US Transmission 430 505 Liquids Other 60 (21) 67 (18) 10 years of consecutive quarterly Ongoing EBITDA 469 554 distribution increases ADD:…
Spectra Energy Partners: Key Balance Sheets Metrics 09/30/17 Total Debt 8.3B Financial Covenant Metrics(1) 4.1x Debt/EBITDA Credit Ratings(2) Baa2 / BBB+ / BBB Available Liquidity 0.6B (1) Calculated in accordance with the credit…
4+B Projects in Execution, 75% Demand Pull Continue to pursue development projects In-Service Counterparties Est. CapEx Date (USD MM) Sabal Trail in service 1,600 Gulf Markets Phase II in service 110 2017 Access South, Adair…
Investor Value Proposition Stable. Disciplined. Reliable. We go where the lights are connecting diverse supply basins with regional demand markets last mile competitive advantage Attractive Stable Outstanding Prudent financial…
Enbridge Energy Partners Third Quarter 2017 Supplemental Slides Investor Relations Adam McKnight 403-266-7922 Adam.McKnightenbridge.com
Enbridge Energy Partners (EEP): Adjusted EBITDA to Distributable Cash Flow 3Q16 3Q17 (US Millions) Adjusted EBITDA 456.8 426.2 Interest Expense (Net)(1) (105.7) (97.2) Income Tax Expense (2.2) (0.1) Distributions in excess of…
EEP Unit Structure as of September 30, 2017 (Millions of units) Unit Class(1) ENB(5) Public TOTAL Cash Paying LP units(2) A 110.8 215.7 326.5 B 7.8 - 7.8 E 18.1 - 18.1 EEQ PIK Shares(4) 10.2 77.4 87.6 Incentive units Class F(6)…
Low-Risk Utility-Like Business Reliable Business Model Provides Highly Predictable Cash Flows Investment Grade Direct Commodity Stable Business Exposure (CFaR)(2) Customers 96%…
Investor Value Proposition Attractive long term risk-return proposition Low risk, pure-play liquids pipeline MLP provides attractive risk-adjusted returns for unitholders Pure-play liquids Low risk Prudent financial Moderate…
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