Barclays Investor Conference John Whelen, Chief Development Officer September 4, 2019
Enbridges Value Proposition Leading energy infrastructure position Low-risk pipeline/utility business model Strong investment grade credit profile Long history of consistent dividend growth Attractive outlook for continued cash…
Enbridges Strategic Footprint 2016 2019 Enterprise Value 95B 160B EBITDA 6.9B 13.0B1 EBITDA by Business 20% 45% Natural Gas Natural Gas Total Assets by Geography 50% 60% U.S. U.S. Delivering North Americas Energy 25%…
Three Core Businesses 50% 2019e EBITDA 30% 2019e EBITDA 15% 2019e EBITDA Liquids Pipelines Gas Transmission Gas Utilities Worlds largest liquids system Connects key North American supply Largest gas utility in N.A. by…
Enbridges Low Risk Business Model Contractual Profile Counterparty of 2019e EBITDA Credit Exposure2 Resiliency in All Market Conditions 14,000 100 WTI 12,000 75 98% 93% 10,000 2% 8,000 50 TOP / COS / Fixed Fee/CTS…
Line 3 Replacement Project Critical energy infrastructure replacement Canadian construction complete and interim Edmonton agreement reached with shippers to bring into Hardisty service in Q4 2019 Kerrobert Wisconsin segment…
Future Growth Opportunities Liquids Pipelines +300kbpd 1. Western Canadian Egress W.Canada Hardisty egress Mainline and Express optimizations and enhancements 2. Bakken Egress Optimization of Bakken Pipeline System +500kbpd…
Mainline Contract Offering Mainline Contracting Timeline Key Offering Features Open Season launched on Aug 2 Priority access for contracted volume Offering open for 60 days Contract terms 8 to 20 years Toll discounts for longer terms…
Future Growth Opportunities Gas Transmission 1. Gulf Coast Pipeline connections to support LNG growth Expansions/extensions to support growing petchem demand 2-3B per year future 2. Southeast development Expansions/extensions to…
Future Growth Opportunities Utilities Ontario population Community expansions & growth forecast in-franchise modernization Incentive Rate Structure 10% 18.5 Expected range of million 14 9% Actual ROE million 9% Allowed 8% ROE…
Capital Allocation & Growth Outlook Annual Long Term self-funding capacity 1 Growth Outlook of 5-6B 5-7% DCF per share Strong energy fundamentals and a strategic footprint position ENB for attractive long-term self-funded…
Financial Strength & Flexibility Consolidated DEBT to EBITDA1 Enbridge Inc. Sr. Unsecured Debt Ratings2 6.0x 5.5x Standard & Poors BBB+ Target Range: stable 4.5x to comfortably below 5.0x 5.0x Fitch BBB+ stable 4.5x 4.0x…
Key Priorities for 2019 1 Achieve 2019 DCF guidance range of 4.30 - 4.60/share 2 Focus on Line 3 Replacement milestones 3 Advance priority access on Mainline 4 Extend secured growth 5 Maintain balance sheet strength &…
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