Key Themes Proven Strategy Low Risk Business Model Over 95% of Comparable EBITDA from regulated assets or long-term contracts Diversified High-Quality Assets Provide Multiple Platforms for Growth Five operating businesses, in three…
TransCanada Today One of North Americas Largest Natural Gas Pipeline Networks 91,900 km (57,100 mi) of pipeline 653 Bcf of storage capacity 23 Bcf/d; 25% of continental demand Premier Liquids Pipeline System 4,900 km (3,000 mi)…
Financial Highlights Three Months Ended March 31 (Non-GAAP) Comparable Comparable Comparable Funds Earnings per Share* EBITDA* Generated from Operations* (Dollars) (Millions) (Millions) 21% Increase 5% Increase 7% Increase 0.98…
First Quarter 2018 Highlights Continued to generate record financial results Comparable earnings were 0.98 per share, a 21 per cent increase over last year Declared quarterly dividend of 0.69 per common share Equivalent to an…
Advancing 21 Billion Near-Term Capital Program Estimated Invested to Expected Project Capital Cost* Date* In-Service Date* Canadian Mainline 0.2 - 2018-2021 NGTL System 0.6 0.4 2018 WB XPress US 0.9 US 0.5 2018 Mountaineer XPress…
21 Billion of Near-Term Projects Drive Significant Growth Comparable EBITDA Outlook* 2015 2020E Billions 10 10% CAGR 9.5 9 Energy Liquids Mexico Pipelines Gas Canadian Pipelines Other U.S. 8 Gas Gas Pipelines 7.4**…
Visibility to 8-10% Growth Through 2021 12 Comparable EBITDA Outlook* Billions Capacity available to invest in future growth 10 opportunities: 10% Organic growth from 8 CAGR existing platform (over 21 Billion Near-Term 3…
Dividend Growth Outlook Through 2021 Annual Growth at the Upper End of 8 to 10 Percent Expected to End of Decade Further 8 to 10 Percent Growth Anticipated in 2021 +8 to 10% 2.76* 2.50 2.26 '16 '17 '18E '19E '20E '21E…
Funding Program Through 2020 Billions 30 Portfolio Management, 2018 2020 Outlook DRP (2019+), New ATM & Other Numerous Levers Available to Fund Hybrid Securities & 25 Preferred Shares Near-Term Capital Program Senior Debt,…
2018-2020 Debt Maturity Profile Debt Maturities in Home Currency (2018-2020) Liquidity and Market Access Billions 3 9 billion of committed and undrawn credit lines Well supported commercial paper programs 2 Canada 2.0 billion…
Funding Program Continues in 2018 Strong, predictable and growing cash flow from operations Comparable funds generated from operations of 1.6 billion in first quarter 1.3 billion of cash and cash equivalents on hand at March 31 Access…
Financial and Commercial Variability Foreign Exchange Interest Rates Volumetric & Commodity (2017 EBITDA) (2017 EBITDA) 10% 34% 45% 55% 61% 90% 3% 2% U.S. Dollar Denominated* Fixed Rate Debt Regulated Canadian Dollar…
North American Natural Gas Pipeline Footprint Well-positioned assets with access to North Americas two most prolific WCSB natural gas supply basins 91,900 km (57,100 mi) of pipeline 653 Bcf of storage capacity Diversified customer…
Connecting Growing Natural Gas Supply to Market North American WCSB Natural Gas Demand Growth* Bcf/d 140 120 100 LNG Exports Electric Generation 80 Industrial 60 Commercial Residential Appalachian 40 Pipe/Plant Fuels…
Substantial North American Natural Gas Resource WCSB Reserve Estimate 2017 - 1,018 Tcf 2007 - 165 Tcf 2017 2007 Rockies / San Juan 2017 - 497 Tcf 2007 - 299 Tcf Mid-Continent / Permian Appalachian 2017 - 991 Tcf 2017 -…
Natural Gas Pipelines Recent Developments Canadian Natural Gas Pipelines WCSB Advancing 7.4 billion capital program including recently announced 2.5 billion for NGTL 2021 expansions NGTL 2018-2019 Revenue Requirement Settlement…
NGTL System Average Volumes (Bcf/d) Net Storage / Intra-Alberta Other Receipts Deliveries Q1 18 Q1 17 Change Q1 18 Q1 17 Change 1.8 1.2 0.6 6.2 5.5 0.7 Total NGTL Field Receipts NGTL System Deliveries up 1.5 Bcf/d Q1 18 Q1…
NGTL 7.2 Billion Capital Program Adds 2.5 Bcf/d of Delivery Capacity by 2021 7.2 billion capital program supported by long-term firm receipt and delivery contracts Adds 2.5 Bcf/d of incremental delivery capacity to market…
Canadian Mainline Connecting North American Gas Supply to Market Western Mainline Eastern System Current investment base of 3.8 billion expected to remain relatively stable Strong ongoing operating and financial performance…
Future Capacity under Assessment Working with WCSB producers to assess options to increase export market access Coastal Canadian Mainline brownfield option: GasLink Six pipes in place along western portion of system Historic…
Columbia Premium Natural Gas Pipeline Network Competitively positioned over Appalachian basin 96% of revenues are derived from firm transportation contracts TCO pool provides access to liquid trading hub US5.8 billion growth…
FERC Actions March 15, 2018 FERC Actions Include Revised Policy Statement - No longer permits MLPs to recover income tax allowance in cost of service rates Notice of Proposed Rulemaking (NOPR) - Proposes process to address impact of…
U.S. Natural Gas Pipeline Opportunities Seek further synergies across our North American natural gas business ie. Buckeye XPress and Portland XPress projects Near-term organic opportunities from WCSB Realize benefits from…
Mexico Solid Position and Growing Four revenue-generating pipelines Tamazunchale Guadalajara Mazatln Topolobampo Three new projects expected to enter service which will increase portfolio to US5 billion Tula US0.7 billion Villa…
Liquids Pipelines Overview Existing Liquids Pipelines Terminal Facilities Keystone pipeline system Northern Courier Transports 20% of Western Canadian Grand Rapids crude oil exports Market access to 6 million bbl/d of refining…
Connecting Growing Crude Oil Supply to Market North American Crude Oil Supply Outlook* Million bbl/d 18 16 14 12 10 Canada 8 US 6 4 2 0 2015 2020E 2030E * CAPP, EIA
Keystone XL NEB approval received U.S. permits received U.S. Presidential Permit Montana, South Dakota and Nebraska state approvals Nebraska Supreme Court to hear appeal case against Public Service Commission approval of an…
Additional Opportunities Related to Keystone XL Grand Rapids Phase II Grand Rapids Keystone XL could facilitate further Phase II development: Heartland & TC Terminal Hardisty Terminal Grand Rapids Phase II Heartland Pipeline…
Energy A Proven Platform Portfolio underpinned primarily by long-term contracts with solid counterparties 6,100 MW of power generation Includes four merchant natural gas-fired cogeneration plants with total capacity of 438 MW 57%…
Significant Power Generation Investment Opportunity North American Generating Capacity Outlook* GW 1,600 1,400 1,200 Coal Other 1,000 Oil/Gas 800 Nuclear Hydro 600 Wind 400 Solar Gas 200 0 2015 2020E 2030E * EIA…
Napanee Generating Station 900 MW natural gas-fired combined cycle plant 20 year firm PPA contract with the Ontario IESO Construction progressing; over 65% complete Expect in-service in 2018 Capital cost of 1.3 billion; 1.1…
Bruce Power Critical Component of Ontarios Electricity Market 6,400 MW or 30% of Ontarios needs 48.4% ownership interest Power sales contracted through 2064 with the Ontario IESO Plant availability expected to be in the high 80%…
Financial Strategy Invest in low-risk assets that generate predictable and sustainable growth in earnings, cash flow and dividends Finance long-term assets with long-term capital Preserve financial strength and flexibility Maintain…
Columbia Acquisition & Near-term Capital Program Drive Significant Growth 9.5 Billion Merchant Energy 10% Contracted Energy CAGR Liquids Pipelines Mexico Natural Gas Pipelines 5.9 Billion Merchant Energy Contracted Energy…
Stability and Longevity of Core Asset Base Comparable EBITDA (Billions) 14 Incremental investment in our core businesses 12 expected to extend growth beyond 2020 10 8 Predictable cost of service and long-term 6 contracted…
Dividend History and Growth Outlook Through 2021 Annual Growth at the Upper End of 8 to 10 Percent Expected to End of Decade Further 8 to 10 Percent Growth Anticipated in 2021 +8 to 10% 2.76* 0.80 '00 '01 '02 '03 '04…
Maintenance Capital Outlook and DCF Coverage Ratios Through 2020 Maintenance Capital Outlook DCF Coverage Outlook (Based on Comparable DCF per share and Dividend Growth at Upper End of 8-10% Range) Majority Earns a Return On and Of…
Key Takeaways Track Record of Delivering Long-Term Shareholder Value 13% average annual return since 2000 Visible Attractive, Growing Strong Growth Portfolio Dividend Financial Position 21 billion to 2020 Dividend raised 10.4%…
Appendix
Appendix Reconciliation of Non-GAAP Measures (millions of dollars, except per share amounts) Three months ended March 31 2018 2017 Net Income Attributable to Common Shares 734 643 Specific items (net of tax): Risk management…
Appendix Reconciliation of Non-GAAP Measures continued (millions of dollars) Three months ended March 31 2018 2017 Comparable EBITDA(1) 2,071 1,977 Depreciation and amortization (535) (510) Comparable EBIT(1) 1,536 1,467…
Appendix Reconciliation of Non-GAAP Measures continued (millions of dollars) Three months ended March 31 2018 2017 Net Cash Provided by Operations 1,412 1,302 Increase in operating working capital 207 155 Funds Generated from…
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