First quarter 2020 conference call Nathan Brown, President Janine Watson, VP and General Manager Chuck Morris, Principal Financial Officer Rhonda Amundson, Investor Relations
Forward looking information and nonGAAP measures This presentation may include forwardlooking statements regarding future events and the future financial performance of TC PipeLines, LP. Words such as believes, expects, intends,…
First quarter highlights Continued to reliably deliver essential energy services across our systems during this unprecedented time Business continuity plans implemented with a focus on the health and safety of employees, contractors and…
Commercial update Continued solid operations across our asset portfolio during the current period of uncertainty Overall steady results on all of our pipelines Expect consistent performance going forward High contract levels and…
Project update1 and capital expenditure outlook Millions Capex will be funded through 250.0 228 asset level debt and TC PipeLines contributions 200.0 1792 TC PipeLines has the capacity to make contributions from cash 150.0 138…
First quarter 2020 financial results (unaudited, millions of dollars except per common unit amounts) Three months ended 31Mar 2020 2019 Net income 94 100 Net income attributable to controlling interests 88 93 Net income per common…
First quarter 2020 financial results (unaudited, millions of dollars) Three months ended 31Mar 2020 2019 Transmission revenues 101 113 Equity earnings 55 54 Operating, maintenance and administrative (23) (25) Depreciation and…
Solid financial position Investor Focus Action Solid capital structure indicative of quality assets within portfolio Strong balance sheet Investmentgrade credit ratings by both S&P and Moodys Significantly reduced debt in 2019…
TC PipeLines, LP Key takeaways Strong cash flows Proven strategy low risk business model 90% of cash flow underpinned by longterm contracts 90% Confident that our high quality assets will generate strong cash flows Longterm…
Question & answer period Nathan Brown Janine Watson Chuck Morris Rhonda Amundson President VP and General Manager Principal Financial Officer Investor Relations
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