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April 2020 Investor Presentation – Altagas Limited

Altagas Limited · Apr 1, 2020 · 16 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 2020 Investor Presentation – Altagas Limited – slide 1
    AltaGas Investor Presentation April 2020
  2. April 2020 Investor Presentation – Altagas Limited – slide 2
    COVID-19 We are committed In response to the COVID-19 pandemic to doing everything were taking action to help our customers and communities, by: we can to support the communities Committing 1 million in emergency assistance to…
  3. April 2020 Investor Presentation – Altagas Limited – slide 3
    Highlights (CAD unless otherwise noted) 2020e Normalized Diversified low-risk, high growth 39% EBITDA4 Utilities and Midstream businesses 60% Midstream deliver stable and reliable results Corporate/Other Utilities 1% 1.20 -…
  4. April 2020 Investor Presentation – Altagas Limited – slide 4
    Rate Regulated Utilities Provide Stability and Growth 60% of 2020e normalized EBITDA from Utilities Segment1 2020e Utility Revenues 1 Alaska: 147,000 customers 1.7 million customers in stable and growing jurisdictions 2 Michigan:…
  5. April 2020 Investor Presentation – Altagas Limited – slide 5
    Premier Midstream Business Connecting Canadian Producers to Global Markets Leverage RIPET and our integrated value chain to attract volumes Montney Basin Key Assets: Strategic Benefits: Ridley Island Propane Global demand market…
  6. April 2020 Investor Presentation – Altagas Limited – slide 6
    Energy Export Strategy Underpinned by Strong Fundamentals Lack of egress will continue to support ALAs strategic export advantage Propane demand growth in Asia supported Long-term supply/demand imbalance supports by appetite for…
  7. April 2020 Investor Presentation – Altagas Limited – slide 7
    Counterparty Credit 80% of 2020e normalized EBITDA from regulated Utilities and investment grade counterparties Credit Quality Counterparty Credit Risk Mitigants: 60% regulated Utilties with 1.7 million customers 14%…
  8. April 2020 Investor Presentation – Altagas Limited – slide 8
    Strong Commercial Underpinning 85% of 2020e normalized EBITDA from rate regulated utilities Top 5 producers and take or pay contracts 2020e Contract Type 70% of 2020e normalized EBITDA underpinned by low-risk regulated and…
  9. April 2020 Investor Presentation – Altagas Limited – slide 9
    Investment Grade Credit Rating Business risk assessment underpinned by 60% regulated Utilities business 10.1x Commitment to investment grade credit rating Regained financial flexibility and improving Debt/EBITDA metrics Improved…
  10. April 2020 Investor Presentation – Altagas Limited – slide 10
    Financial Flexibility Significant excess liquidity minimizes capital market funding risk beyond 2020 Debt Maturity Profile Funding & Liquidity ( millions) ( millions) 1,200 6,000 1,000 5,000 800 4,000 780 4,050 million 3.6…
  11. April 2020 Investor Presentation – Altagas Limited – slide 11
    Strong Dividend Coverage Prudent dividend payout largely underpinned by stable and predictable Utilities earnings 2020 Payout Ratio Comparison1 180% 158% 160% 143% 140% 127% 120% 111% 100% 100% 83% 87% 84% 84% 80% 73% 78% 60%…
  12. April 2020 Investor Presentation – Altagas Limited – slide 12
    Appendix - 2020 Outlook 13
  13. April 2020 Investor Presentation – Altagas Limited – slide 13
    2020: Outlook Unchanged Strong growth in base business underpins 2020 outlook 2020 Normalized EBITDA Guidance2 2020 Normalized EPS Guidance2 ( millions) (per share) 1600 1.20 - 1.30 1200 800 400 0 2020e 2020e Utilities…
  14. April 2020 Investor Presentation – Altagas Limited – slide 14
    2020 Normalized EBITDA Drivers Normalized 2020E EBITDA1 Growth Drivers 2020 Normalized Rate base growth through disciplined EBITDA Guidance1 investment in aging infrastructure ( millions) Achieving higher returns on equity Utilities…
  15. April 2020 Investor Presentation – Altagas Limited – slide 15
    2020 Disciplined Capital Allocation Strong organic growth drives robust risk adjusted returns 9001 million in top-quality projects drive earnings growth Power Corporate Capital Allocation Criteria: 2% 2% Identified Projects:…
  16. April 2020 Investor Presentation – Altagas Limited – slide 16
    2020: Self-Funded Model Growth in cash flow eliminates need for common equity and provides funding flexibility 2020 capital plan funded internally and focused on projects with near-term returns 2020e Sources and Uses1 ( millions)…

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