First quarter 2019 accomplishments Generated record first quarter financial results Comparable earnings were 1.07 per common share Comparable funds generated from operations of 1.8 billion Advanced 30 billion secured capital program…
Financial highlights Three months ended March 31 (NonGAAP) Comparable Comparable Comparable funds earnings per common share* EBITDA* generated from operations* (Dollars) (Millions) (Millions) 9% increase 16% increase 11% increase…
Natural Gas Pipelines recent developments Canadian Natural Gas Pipelines Advancing 16.7 billion capital program that includes numerous NGTL System expansions and Coastal GasLink Placed approximately 250 million of projects into…
Liquids Pipelines recent developments White Spruce commercial inservice achieved in May 2019 Entered agreement with Motiva Enterprises LLC to construct a pipeline connection to Keystone Pipeline System Keystone XL continues to…
Power and Storage Renamed segment previously referred to as Energy More clearly articulates the business Napanee Power Plant (900 MW) Experienced equipment failure while progressing commissioning activities Commencement of commercial…
Advancing 30 billion secured capital program through 2023 Estimated Capital Expected Project Invested to Date* Cost* InService Date* White Spruce 0.2 0.2 2019 Sur de Texas** US 1.5 US 1.4 2019 Napanee 1.7 1.7 2019 NGTL System 2.8…
Secured capital program drives significant growth Comparable EBITDA outlook (Billions) 95% of comparable EBITDA to come from regulated assets or longterm contracts 10
Dividend growth outlook Annual growth of 8 to 10 per cent through 2021 Supported by expected growth in earnings and cash flow and continued strong coverage ratios * Annual rate based on second quarter dividend declared of 0.75…
Key takeaways Proven strategy Low risk business model 95% of comparable EBITDA from regulated assets or longterm contracts Business continued to produce record results in first quarter 2019 Demand for our services has never been…
Don Marchand Executive VP & CFO 13
Consolidated results of operations (millions of dollars, except per share amounts) Three months ended March 31 2019 2018 Net Income Attributable to Common Shares 1,004 734 Specific items (net of tax): U.S. Northeast power…
Business segment results(1) (millions of dollars) Three months ended March 31 2019 2018 Comparable EBITDA(2) Canadian Natural Gas Pipelines 556 494 U.S. Natural Gas Pipelines 972 804 Mexico Natural Gas Pipelines 146 160…
Other income statement items(1) (millions of dollars) Three months ended March 31 2019 2018 Comparable EBITDA(2) 2,383 2,063 Depreciation and amortization (608) (535) Comparable EBIT(2) 1,775 1,528 Interest expense (586)…
Comparable distributable cash flow (millions of dollars, except per share amounts) Three months ended March 31 2019 2018 Comparable Funds Generated From Operations(1) 1,791 1,611 Dividends on preferred shares (40) (39)…
Funding program continued to advance in first quarter 2019 Strong, predictable and growing cash flow from operations Comparable funds generated from operations of 1.8 billion in the quarter Significant ongoing DRP participation supports…
Funding program outlook 20192021 Billions Numerous levers available to fund Secured Capital Program Strong, predictable and growing cash flow from operations Dividend Reinvestment Plan Access to capital markets including:…
Delivering longterm shareholder value Track Visible Attractive, growing Strong record growth dividend financial position 13% average annual 30 billion secured Dividend raised 8.7% Numerous levers total shareholder to 2023 in…
Question & answer period 21
First quarter 2019 conference call May 3, 2019
Appendix Reconciliation of nonGAAP measures (millions of dollars) Three months ended March 31 2019 2018 Comparable EBITDA(1) 2,383 2,063 Depreciation and amortization (608) (535) Interest expense (586) (527) Allowance for funds…
Appendix Reconciliation of nonGAAP measures continued (millions of dollars) Three months ended March 31 2019 2018 Net Cash Provided By Operations 1,949 1,412 (Decrease)/increase in operating working capital (142) 207 Funds…
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