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April 2018 Corporate Update – Pembina Pipeline Corp

Pembina Pipeline Corp · Apr 2, 2018 · 41 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. April 2018 Corporate Update – Pembina Pipeline Corp – slide 1
    Pembina Pipeline Corporation Corporate Update A p r i l 2018 TSX: PPL; NYSE: PBA
  2. April 2018 Corporate Update – Pembina Pipeline Corp – slide 2
    Presentation outline Leading North American Energy Infrastructure Company Delivering on our promises: capital program execution Building on a strong track record of increasing value and decreasing risk Increased financial…
  3. April 2018 Corporate Update – Pembina Pipeline Corp – slide 3
    Leading North American Energy Infrastructure Company
  4. April 2018 Corporate Update – Pembina Pipeline Corp – slide 4
    Pembina's services reach natural gas, NGL and crude oil markets across North America 5
  5. April 2018 Corporate Update – Pembina Pipeline Corp – slide 5
    Integrated, customer-focused services Empress, Sarnia and Corunna (Mainline Extraction, Fractionation, Distribution) Value chain extension opportunities Prince Rupert LPG Export Terminal (secured) Gas & NGL Via NGTL NGL Storage…
  6. April 2018 Corporate Update – Pembina Pipeline Corp – slide 6
    Balance and diversification 11% Pipeline Division Operating Segment (2018 EBITDA)(1) 29% 60% Facilities Division Marketing & New Ventures 30% Crude Oil 36% Hydrocarbon Mix (2018 EBITDA)(1) NGL Gas 34% US 16% WCSB…
  7. April 2018 Corporate Update – Pembina Pipeline Corp – slide 7
    Delivering on our promises: excellence in capital program execution
  8. April 2018 Corporate Update – Pembina Pipeline Corp – slide 8
    Snapshot project execution highlights Safety metric(1) LTI Project In-service date Completed on-time Completed on-budget Man Hours Travel (km) Frequency Pipelines NEBC Expansion October 2017 On time On budget 750,000+ 2,900,000+ 0.53…
  9. April 2018 Corporate Update – Pembina Pipeline Corp – slide 9
    Billions of dollars in fee-for-service capital projects recently brought into service 2017 In-service Growth Secured Growth Projects In-Service Capital Cost (MM) In-service Capital Cost (MM) Phase III Expansion June 30, 2017 2,440…
  10. April 2018 Corporate Update – Pembina Pipeline Corp – slide 10
    Transformational growth completed in 2017 Historical Adjusted EBITDA and 2018 Outlook 3,000 MM 2.55 BB to 2.75 BB 750 MM 2,500 MM to 850 MM 2,000 MM 1,705 MM 1,500 MM 1,189 MM 983 MM 1,000 MM 920 MM 500 MM -…
  11. April 2018 Corporate Update – Pembina Pipeline Corp – slide 11
    Hydrocarbon pipeline transportation systems Net pipeline capacity 3,500 3.0 MMboed 3,000 125 133 330 2,500 230 2,000 389 Mbpd 335 48 1,500 133 180 1,000 1,132 500 - (1) (2) (2) Pre-2013 & Phase IV &…
  12. April 2018 Corporate Update – Pembina Pipeline Corp – slide 12
    Largest third-party gas processor in the WCSB Net processing capacity 7,000 6.0 6,000 Bcf/d(1) 897 5,000 702 100 60 75 4,000 MMcf/d 2,088 3,000 2,000 460 214 400 1,000 1,023 - (2) (3) Cutbank Saturn…
  13. April 2018 Corporate Update – Pembina Pipeline Corp – slide 13
    Largest fractionation capacity in the WCSB Net fractionation capacity 350 307 In-service Project under development mbpd 300 56 250 30 20 200 Mbpd 55 150 73 100 50 73 - RFS I RFS II RFS III Sarnia Empress…
  14. April 2018 Corporate Update – Pembina Pipeline Corp – slide 14
    Significant hydrocarbon storage capacity Net storage capacity 16.0 14.2 Underground Storage Capacity Above Ground Storage Capacity MMbbls 14.0 0.5 0.3 0.6 In-service 12.0 1.0 Project under development 1.6 10.0 1.5 MMbbls…
  15. April 2018 Corporate Update – Pembina Pipeline Corp – slide 15
    Building on a strong track record of increasing value and decreasing risk
  16. April 2018 Corporate Update – Pembina Pipeline Corp – slide 16
    Financial Guard Rails 2015A 2018E Maintain target of 80% fee-based contribution 1 to EBITDA 77% 87%…
  17. April 2018 Corporate Update – Pembina Pipeline Corp – slide 17
    Maintain target of 80% fee-based contribution to EBITDA Contribution by revenue type (MM) 77% fee-based 77% fee-based 83% fee-based 87% fee-based 3 8% Take-or-pay/Cost-of-service 5% 3 Fee-for-service 16% Product margin 2…
  18. April 2018 Corporate Update – Pembina Pipeline Corp – slide 18
    Credit considerations and counterparty credit stats 60-day credit exposure(1,3) Pembina assesses all counterparties during on-boarding process and actively monitors credit limits and exposures Non Investment AA- to AA+ across the…
  19. April 2018 Corporate Update – Pembina Pipeline Corp – slide 19
    Dividend growth supported by growing cash flow 3.50 3.00 2.50 2.00 /Share 1.50 1.00 0.50 - 2006A 2007A 2008A 2009A 2010A 2011A 2012A 2013A 2014A 2015A 2016A 2017A Dividend per share Adjusted cash…
  20. April 2018 Corporate Update – Pembina Pipeline Corp – slide 20
    Increased financial strength and enhanced financing flexibility
  21. April 2018 Corporate Update – Pembina Pipeline Corp – slide 21
    Capital expenditures and financing objectives Funding plan for 2018 capital (1.3 BB) Ongoing financing objectives 3.0 2014 2015 2016 2017 2018 Finance growth 50/50 debt/equity over the long term Maintain strong BBB rating with…
  22. April 2018 Corporate Update – Pembina Pipeline Corp – slide 22
    Commitment to a strong BBB credit rating Debt/Adjusted EBITDA (2018 Forecast)(1) Leverage comparison across industry(4) 4.5x 4.0x 3.75x - 4.25x 3.5x 9.0x Pembina continues to employ less leverage 3.0x 3.9x than its peers 2.5x 8.0x…
  23. April 2018 Corporate Update – Pembina Pipeline Corp – slide 23
    The future is bright: positioning for long-term growth
  24. April 2018 Corporate Update – Pembina Pipeline Corp – slide 24
    Our future is bright: many large-scale potential projects Project portfolio Prince Rupert Export Terminal Veresen Midstream 6.9 BB of projects 20 BB (Secured) Unsecured Peace Pipeline Expansion in-service/secured 2017 / 2018+…
  25. April 2018 Corporate Update – Pembina Pipeline Corp – slide 25
    Supporting growth in the liquids rich Duvernay today and in the future Duvernay I (in-service November 1, 2017 ) Fully-contracted Duvernay I 100 MMcf/d shallow cut gas plant (gross) and field hub infrastructure NGL extraction…
  26. April 2018 Corporate Update – Pembina Pipeline Corp – slide 26
    The future: doing more with molecules we already handle Opportunity: value-add infrastructure development and market Challenge: the WCSB is oversupplied with numerous hydrocarbons access to create demand Value-add opportunity End use…
  27. April 2018 Corporate Update – Pembina Pipeline Corp – slide 27
    Proven track record of value chain investment and extension Integrated Value Chain Initial Extension Follow on Highlights Investment Investment Pembina system constructed to Largest NGL feeder system in bring product from Drayton…
  28. April 2018 Corporate Update – Pembina Pipeline Corp – slide 28
    WCSB propane market dynamics Illustrative WCSB propane supply & demand(1)(2) The WCSB has an overabundance supply of propane 250 Propane market dynamics support opportunities for Pembina to develop new 200 infrastructure…
  29. April 2018 Corporate Update – Pembina Pipeline Corp – slide 29
    PDH/PP investment rationale: Alberta propane market conditions Increasing Alberta Propane Supply Revolution in unconventional drilling and NGL production has created an abundance of propane production RFS II & RFS III fractionators…
  30. April 2018 Corporate Update – Pembina Pipeline Corp – slide 30
    Proposed PDH/PP Facility overview(1) Proposed PDH/PP Facility Different grades of PP have different characteristics Pembina and PIC are progressing a proposed world-scale integrated Automotive Housewares Housewares PDH/PP production…
  31. April 2018 Corporate Update – Pembina Pipeline Corp – slide 31
    CKPC's Alberta PDH/PP Project: key milestones Purchased 2,200 acres of lands adjacent to RFS PDH/PP only requires 400 acres Opportunity Identification PIC and Pembina announce they would be jointly evaluating feasibility of an…
  32. April 2018 Corporate Update – Pembina Pipeline Corp – slide 32
    Prince Rupert LPG Export Terminal Developing a Prince Rupert LPG Export Terminal with an expected capital cost of 250 to 270 million Permitted up to 25 mbpd of LPG export capacity Site features sheltered berth, adequate existing…
  33. April 2018 Corporate Update – Pembina Pipeline Corp – slide 33
    Jordan Cove LNG project Jordan Cove LNG Terminal 7.8 MMTPA(1) (1.3 Bcf/d) greenfield liquefied natural gas export facility Price competitive with USGC brownfield on a delivered into Tokyo basis 9 days shipping to Tokyo with no…
  34. April 2018 Corporate Update – Pembina Pipeline Corp – slide 34
    Summary
  35. April 2018 Corporate Update – Pembina Pipeline Corp – slide 35
    We continue to deliver on our promises 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…
  36. April 2018 Corporate Update – Pembina Pipeline Corp – slide 36
    CONTACT US Pembina Pipeline Corporation Suite 4000 585 8th Avenue S.W. Calgary, Alberta T2P 1G1 www.pembina.com investor-relationspembina.com Toll free: 1.855.880.7404 Phone: 403.231.3156
  37. April 2018 Corporate Update – Pembina Pipeline Corp – slide 37
    Appendix
  38. April 2018 Corporate Update – Pembina Pipeline Corp – slide 38
    Pipelines Division Leader in conventional hydrocarbon products gathering business See Non-GAAP measures. 39
  39. April 2018 Corporate Update – Pembina Pipeline Corp – slide 39
    Facilities Division Facilities support the most economic plays in the Western Canadian Sedimentary Basin Maps for illustrative purposes only (does not show SEEP). See Non-GAAP measures. 40
  40. April 2018 Corporate Update – Pembina Pipeline Corp – slide 40
    Our assets are well-positioned and interconnected Synthetic Redwater Synthetic Diluent Oil Sands Diluent Pipelines Crude Namao Canadian Diluent Hub Local Refineries Export Crude Pipelines Edmonton Diluent Pool…
  41. April 2018 Corporate Update – Pembina Pipeline Corp – slide 41
    Marketing and New Ventures Division Strategically located, difficult to replicate, and integrated asset base creates competitive advantage Maps for illustrative purposes only. 42

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