Corporate Profile August 2020 Keyera Corp. December 2019
Forward-Looking Information & Non-GAAP Measures In the interests of providing Keyera Corp. (Keyera or the Company) shareholders and potential investors with information regarding Keyera, including Managements assessment of future plans…
Keyera at a Glance COMPANY OVERVIEW 1 STABLE FINANCIAL PROFILE Provides essential energy infrastructure services to customers Broad customer base with over 100 different fee-for-service customers Majority of revenue from…
Keyeras Vision To be the NORTH AMERICAN LEADER in delivering energy infrastructure solutions 1 in safety performance 1 in customer recognition 1 in total shareholder return 4
Values to Guide Us During This Challenging Time HEALTH, SAFETY & ENVIRONMENT Caring for people & our planet INTEGRITY & TRUST Doing the right thing for the right reasons RESPONSIBILITY & ACCOUNTABILITY Delivering on our…
ESG Ratings Reflect our Commitment SUSTAINALYTICS MSCI OUTPERFORMER RATING1 A RATING Peer Benchmarking Refiners & Pipelines (Industry Group) LARGEST 6 PEERS (OIL & GAS REFINING, MARKETING, TRANSPORTATION, STORAGE & UTILTIES…
History of Generating Value in All Market Conditions * * 7 * Keyera calculates distributable cash flow per share after cash taxes and maintenance capital expenditures (2019 98M & 105M, respectively; 2020 Guidance cash tax recovery…
Our Strong Financial Position 2.5x Net Debt1 to adjusted EBITDA2 LONG-TERM DEBT MATURITIES (C MM)4 Midstream Peer Group Average 5.3x3 (excludes drawings under revolver) Hybrid Note Conservative payout ratio2 Public Debt Private…
Growing Fee-for-Service Realized Margin 1,141 million AEF outage 787 AEF million outage 682 Non Fee-for-Service Realized Margin* million 64% 479 million 61% Fee-for-Service Realized Margin* 2016 2017 2018 2019 H1/20…
Creditworthy Customer Base 78% CREDITWORTHY COUNTERPARTIES Consolidated* Includes investment grade/secured and split rated counterparties* 13% Secured 22% MITIGATING CREDIT RISK 13% AA- to AA+ Letters of credit, netting…
Business is Highly Integrated & Difficult to Replicate GATHERING & MARKETING LIQUIDS INFRASTRUCTURE PROCESSING Fee-for-Service Business Margin Business Raw Gas CONSUMPTION EXTRACTION End Markets Gathering…
A Unique Blend of Stability, Growth & Opportunity Gathering & processing B.C. ALBERTA Strategically located infrastructure in liquids-rich Montney KAPS will be 1 of 2 pipelines providing liquids egress FORT FORT McMURRAY ST.JOHN…
Marketing Services Complement Fee-for-Service Business Utilizes Keyeras infrastructure to create value Provides additional source of funding for capital projects Enhances return from our fee-for-service businesses Iso-octane…
GATHERING & Processing
Optimizing our South Portfolio MONTNEY Fort Saskatchewan Objectives Bigoray Edmonton Increase competitiveness & profitability Redirect gas to most efficient gas plants1 West Pembina Brazeau North DUVERNAY Minnehik Buck…
Providing a Full Suite of Services in the Montney A L B E RTA MONTNEY Handle all products produced Pipestone condensate stabilization DUVERNAY Grande Prairie sour gas processing North Wapiti Pipeline liquids extraction System…
LIQUIDS Infrastructure
KAPS Key Strategic Asset & Platform for Growth A L B E RTA OIL SANDS Pipestone MONTNEY Projects remains highly desired by industry Grande Prairie Construction expected to begin in 2H21; completed in 20231 All transportation…
KFS Integrated Fractionation & Storage Assets ASSETS & CONNECTIVITY DIFFICULT TO REPLICATE KFS FRACTIONATION CAPACITY FULLY UTILIZED One of four fractionation service providers in Fort Saskatchewan 66,200 bbls/d C3+ capacity &…
Our Industry-Leading Condensate System PEMBINA DOW PLAINS COCHIN KAPS KFS NORTHWEST CANADIAN REDWATER DILUENT HUB ACCESS NORLITE IPL POLARIS PIPELINE PIPELINE FORT SASKATCHEWAN CONDENSATE SYSTEM JOSEPHBURG MANIFOLD…
Quality Cash Flow from Creditworthy Customers* 22 *As of March 31, 2020 and not a complete list of all of Keyeras condensate customers.
Leading Condensate Service Provider Keyera has significant Keyera transports 50% condensate storage capacity 700,000 of condensate 100% 600,000 Oil Sands Condensate Demand 80% Percentage of Total Demand 500,000 60%…
Wildhorse New Crude Oil Storage & Blending Terminal STRATEGIC CRUDE OIL STORAGE AND BLENDING TERMINAL1 Cushing, OK Located at Cushing, OK, the major crude oil hub in the US Unparalleled connectivity Backed by fee-for-service…
MARKETING
Knowledge, Relationships and Infrastructure MARKETING CREATES VALUE WHAT WE DO Buy and Sell NGLs 300M - 340M Lock in sales margins and supply costs Protect the value of our inventory 2020 ANNUAL GUIDANCE* Upgrade low value…
Marketing Focused on Prudent Risk Management HOW WE MANAGE RISK INVENTORY RISK BASIS RISK Stored inventory is exposed to market Commodity purchases and sales can price fluctuations from when it is be priced on different price…
Marketing Utilizes our Infrastructure to Create Value C5+ CONDENSATE Keyeras C5+ hub creates industry liquidity Consumed in Alberta as diluent for bitumen C4 BUTANE Significant imports required to meet demand Sourced and consumed…
Upgrading Butane into High Value Iso-octane STRONG CONTRIBUTOR ISO-OCTANE BENEFITS TO MARKETING* Superior gasoline blend stock pricing Foreign exchange Lower RVP & higher octane than alternatives Iso-octane premium Clean burning…
FINAL Word
Keyeras Current Priorities to Position for Long-term Ensure the health & safety of our people & our communities Be a safe, reliable & environmentally conscious operator of our facilities Maintain monthly dividend while maintaining a…
Keyeras Value Proposition Strong financial position 2.5x Net Debt to adjusted EBITDA1,2 Conservative payout ratio of 51% YTD, aligned with our target of 50% to 70% Investment grade credit ratings from DBRS and S&P Access to a 1.5B…
Contact Information Lavonne Zdunich, CPA, CA Director, Investor Relations Calvin Locke, P.Eng, MBA Manager, Investor Relations Beata Graham, CPA, CMA Senior Analyst, Investor Relations Keyera Corp. 888-699-4853 Sun Life Plaza…
APPENDIX
Wapiti Gas Plant Complex Phase I Operating INFRASTRUCTURE INCLUDES 300 mmcf/d of sour gas processing capacity Producers active in Wapiti Area: 25,000 bbls/d of condensate handling capacity Pipestone CNRL 30,000 bbls/d water…
Pipestone Gas Plant Nearing Completion STRATEGIC PARTNERSHIP WITH OVINTIV Major gas producer focused on developing the liquids-rich Montney; contracted 85% of the available capacity Keyera will own the facilities, option to operate…
Positioned for Future Development KAPS 1,290 undeveloped acres in Albertas Industrial Heartland C5+ Termination KFS Josephburg C3+ Termination Rail Terminal 37
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