Pembina Pipeline Corporation TSX: PPL NYSE: PBA Acquisition of Kinder Morgan Canada and Cochin Pipeline August 21, 2019
Transaction highlights Overall transaction size of 4.35 billion, comprised of: Acquisition of all outstanding shares of Kinder Morgan Canada (KML) in exchange for Pembina shares, representing a share price for KML of 15.02 calculated…
Strategic rationale Highly strategic acquisition of the Cochin mainline, a fully contracted, cross-border pipeline system connecting Pembinas Channahon, Bakken and Edmonton assets Cochin is connected to Mont Belvieu, Conway and…
EDMONTON TERMINALS VANCOUVER WHARVES COCHIN WINDSOR MAX BASS TERMINAL RIGA COCHIN KANKAKEE KANKAKEE TERMINAL (1 mmbbl storage)
Strategically located and highly integrated assets Cochin Pipeline System One of two cross-border condensate import pipelines, underpinned by take-or-pay contracts with investment grade customers Cross-border pipeline currently in…
Pipeline transportation Net pipeline capacity through time 3,500 3.2 In-service mmboe/d(3) 110 65 3,000 Project under development 245 180 KML acquisition (pending) 125 133 2,500 330 2,000 625 mboe/d 133 1,500…
Leading hydrocarbon storage position Net storage capacity 30 Merchant Underground Storage Capacity Merchant Above Ground Storage Capacity 24.3 mmbbl(1) Pembina 25 Provident acquisition Veresen acquisition 20 KML acquisition…
The Pembina Store with KML and Cochin Gas & NGL (HVP) Gas Consumers Mainline Extraction NGL and Fractionation (Younger, Empress, NGL Alliance (proposed) Gathering, 3rd Party Aux Sable) Pipeline Processing, Pipelines…
Enhanced pro forma Financial Guardrails 2019E Illustrative 2019 Pro Forma (5) 1 Maintain target of 80% fee-based 85% 87% contribution to Adjusted EBITDA (1)…
Summary This transaction is an excellent opportunity to acquire strategically aligned assets that are a low-risk, high quality extension of Pembinas value chain that will enhance our customer service offering; The acquired assets…
Appendix
Significant integration and Cochin Pipeline connectivity potential around Pembina's Redwater, Aux Sable, and Sarnia assets The combined assets offer Redwater integration on the condensate value chain and enhance the COCHIN…
Edmonton Terminals 1 KMLs Edmonton storage franchise represents a 10x increase in Pembinas above-ground storage capacity 100% North 40 (N40) Pembinas 5 Edmonton Storage Terminals 2 North Terminal (ENT) Strong strategic fit…
Vancouver Wharves Vancouver Wharves is a bulk commodity terminal operated by KML Largest mineral concentrate export and import facility on the West NORTHEAST B.C. Coast of North America PRINCE 125 acre bulk marine terminal facility,…
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