Skip to main content 2020 Investor Day – TC Energy Corp. Investor Presentation | Shale Experts
Loading...
Pm

2020 Investor Day – TC Energy Corp.

TC Energy Corp. · Nov 17, 2020 · 100 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. 2020 Investor Day – TC Energy Corp. – slide 1
    2020 Investor Day November 17, 2020
  2. 2020 Investor Day – TC Energy Corp. – slide 2
    Strategic Overview Russ Girling President and Chief Executive Officer
  3. 2020 Investor Day – TC Energy Corp. – slide 3
    Successful long-term strategy driven by A consistent approach to capital allocation that emphasizes financial strength and flexibility A focus on long-term industry fundamentals when making investment decisions A low-risk business…
  4. 2020 Investor Day – TC Energy Corp. – slide 4
    Proven capital allocation framework delivers results Critical energy infrastructure assets generate long-term cash flows Invested Returned in complementary to shareholders low-risk assets through growing dividends Produced…
  5. 2020 Investor Day – TC Energy Corp. – slide 5
    Invested 110 billion in three core businesses since 2000 2000: 20 billion total assets 2020: 102 billion total assets Comparable EBITDA* outlook 9.3 Billion** *Comparable EBITDA is a non-GAAP measure. See the forward looking…
  6. 2020 Investor Day – TC Energy Corp. – slide 6
    Capital investment has created significant value Dollars Dollars 7% 5% CAGR CAGR Substantial growth in earnings and cash flow per share *Comparable earnings per common share and comparable funds generated from operations per…
  7. 2020 Investor Day – TC Energy Corp. – slide 7
    Low-risk business model has consistently produced results COVID-19 and OPEC+ Dollars developments Supported by MLP Oil price distress Strong business fundamentals collapse Regulated assets Financial Shale crisis revolution…
  8. 2020 Investor Day – TC Energy Corp. – slide 8
    Twenty consecutive years of common share dividend increases 7% CAGR Supported by growth in earnings and cash flow and strong coverage ratios
  9. 2020 Investor Day – TC Energy Corp. – slide 9
    Performance has resulted in significant share price appreciation Dollars Common share price - TSX 12 per cent average annual total shareholder return since 2000 Source: FactSet data from January 1, 2000 to November 10, 2020
  10. 2020 Investor Day – TC Energy Corp. – slide 10
    Superior total shareholder return Per cent 985% 261% 237% Significantly outperforming the market Source: FactSet data from January 1, 2000 to November 10, 2020
  11. 2020 Investor Day – TC Energy Corp. – slide 11
    A leading North American energy infrastructure company One of 93,300 km (57,900 mi) of pipeline North Americas largest 653 Bcf of storage capacity natural gas pipeline Transports 25% of demand networks Premier 4,900 km (3,000 mi) of…
  12. 2020 Investor Day – TC Energy Corp. – slide 12
    2020 Accomplishments Continued to reliably deliver essential energy services across North America With few exceptions, flows and utilization levels remain in-line with historical norms Generated near record financial results through…
  13. 2020 Investor Day – TC Energy Corp. – slide 13
    ESG highlights Environment Social Governance Methane Guiding Principles 10 billion in direct economic 29% Board Members are female Signatory value distributed with 30% target 75% emission-less power 690+ million spent with Investing…
  14. 2020 Investor Day – TC Energy Corp. – slide 14
    Our Leadership Team Don Marchand Franois Poirier Executive VP, Strategy & Russ Girling Chief Operating Officer and President, Corporate Development President and Chief Executive Officer Power & Storage and Chief Financial Officer…
  15. 2020 Investor Day – TC Energy Corp. – slide 15
    Strategic Overview Franois Poirier Chief Operating Officer and President, Power & Storage
  16. 2020 Investor Day – TC Energy Corp. – slide 16
    Energy transition will create opportunities Energy demand is expected to grow with oil and natural gas an important part of the global fuel mix Energy transition will take time, requiring technological breakthroughs and cooperation…
  17. 2020 Investor Day – TC Energy Corp. – slide 17
    Key strategic priorities Delivering energy safely and reliably, every day Maximizing value of our existing assets Executing secured capital program on-time and on-budget Advancing portfolio of low-risk growth opportunities…
  18. 2020 Investor Day – TC Energy Corp. – slide 18
    Global primary energy demand outlook through 2040 *mtoe Natural gas demand grows by 1,000 mtoe Oil demand grows by 300 mtoe Renewables demand grows by 1,680 mtoe Over 50% of demand fulfilled by natural gas and oil…
  19. 2020 Investor Day – TC Energy Corp. – slide 19
    North American energy outlook through 2040 North American Natural Gas North American North American Demand and LNG Exports Liquids Production Power Capacity Bcf/d MBbl/d GW 2019 2030 2040 *Includes bioenergy, geothermal and…
  20. 2020 Investor Day – TC Energy Corp. – slide 20
    Well positioned to succeed as the energy landscape evolves Our extensive network of critical energy infrastructure assets will be used for decades Base business will continue to generate significant opportunities New prospects…
  21. 2020 Investor Day – TC Energy Corp. – slide 21
    Extensive asset footprint is a strong competitive advantage Canadian Mainline is a critical NGTL System is uniquely conduit to eastern markets positioned over 1,383 Tcf of WCSB natural gas resources Bruce Power generates 30% of…
  22. 2020 Investor Day – TC Energy Corp. – slide 22
    Advancing 37 billion secured capital program 22 billion of Natural Gas Pipelines projects Connecting abundant, low-cost supply in the WCSB and Appalachia to premium markets Reinforced by cost of service regulation and/or long-term,…
  23. 2020 Investor Day – TC Energy Corp. – slide 23
    Comparable EBITDA* outlook 2015-2024E Billions 8% 12+ CAGR Power & Storage 2024+ Bruce Power refurbishments 9.3 Liquids Pipelines 9% Traditional replenishment of CAGR project portfolio Mexico Natural Gas Pipelines Executable…
  24. 2020 Investor Day – TC Energy Corp. – slide 24
    Vast opportunity set the backdrop for continued disciplined growth Unparalleled demand for infrastructure under all energy mix scenarios Todays needs Low-carbon future Projects under Electrification Bruce Power MCR development of…
  25. 2020 Investor Day – TC Energy Corp. – slide 25
    Dividend growth outlook 8-10% anticipated in 2021 5-7% 3.24 Expected growth per annum 2021+ 7% CAGR 37 billion secured growth program Robust development portfolio Irreplaceable asset footprint driving in-corridor expansions…
  26. 2020 Investor Day – TC Energy Corp. – slide 26
    Strategic Overview
  27. 2020 Investor Day – TC Energy Corp. – slide 27
    Canadian Natural Gas Pipelines Tracy Robinson Executive Vice-President and President, Canadian Natural Gas Pipelines
  28. 2020 Investor Day – TC Energy Corp. – slide 28
    Natural Gas Pipelines system overview High-quality pipeline 93,300 km (57,900 mi) of network cannot be natural gas pipelines replicated 653 Bcf of storage capacity WCSB Access to abundant, Assets on top of two of the…
  29. 2020 Investor Day – TC Energy Corp. – slide 29
    North Americas major supply basins WCSB 2019 - 1,383 Tcf Technology changes led to the discovery of 2007 - 165 Tcf clean and abundant natural gas supply Appalachia Natural gas production costs fell significantly 2019 - 1,470 Tcf…
  30. 2020 Investor Day – TC Energy Corp. – slide 30
    North American natural gas fundamentals through 2040 +43 Bcf/d Growth primarily driven by power +45 Bcf/d +45 Bcf/d Growth primarily from the WCSB, generation and LNG exports Appalachian and Permian basins Bcf/d North American…
  31. 2020 Investor Day – TC Energy Corp. – slide 31
    Canadian Natural Gas Pipelines system overview NGTL, Canadian 39,800 km of pipeline Mainline and Connects WCSB to five North Foothills systems American markets: NIT, Dawn, California, U.S. Northeast and Chicago Coastal GasLink 670…
  32. 2020 Investor Day – TC Energy Corp. – slide 32
    2020 Accomplishments Placed 3.1 billion of capital projects in service to date Achieved long-term settlements with customers on the NGTL System and the Canadian Mainline Capacity Optimization Open Season resulted in benefits for…
  33. 2020 Investor Day – TC Energy Corp. – slide 33
    Demand for Canadian gas is growing and WCSB is competitive Significant growth between 2020 and 2040 +50 +9 of supply under 1.00/GJ break-even cost Driven primarily by LNG exports, Bcf/d oil sands and power generation years at current…
  34. 2020 Investor Day – TC Energy Corp. – slide 34
    Expanding market access for WCSB natural gas NGTL System Increasing access to supply +9.9B and market Canadian Mainline Increasing connectivity into the +0.4B Eastern Triangle Coastal GasLink Providing connection to +0.2B*…
  35. 2020 Investor Day – TC Energy Corp. – slide 35
    Average investment base and net income outlook* Average investment base Net income Billions Billions 8% CAGR 8% 8% CAGR CAGR Well positioned for continued long-term growth *See the forward looking information and non-GAAP…
  36. 2020 Investor Day – TC Energy Corp. – slide 36
    Future growth opportunities Near term Medium term Long term Increase connectivity Leverage network for growth Position footprint for the future Attract volumes in the Montney Coal-to-gas switching in Alberta power 3,800 MW of…
  37. 2020 Investor Day – TC Energy Corp. – slide 37
    Looking ahead Operate safely and Leverage existing Advance secured growth Capture additional reliably, every day infrastructure and projects on time and growth opportunities right-of-way on budget along existing corridor Reduce…
  38. 2020 Investor Day – TC Energy Corp. – slide 38
    Canadian Natural Gas Pipelines Tracy Robinson Executive Vice-President and President, Canadian Natural Gas Pipelines
  39. 2020 Investor Day – TC Energy Corp. – slide 39
    U.S. and Mexico Natural Gas Pipelines Stan Chapman Executive Vice-President and President, U.S. and Mexico Natural Gas Pipelines
  40. 2020 Investor Day – TC Energy Corp. – slide 40
    U.S. Natural Gas Pipelines system overview Broad Own and/or operate diversified national network platform of 13 pipelines that transport 27% of U.S. average daily demand* Value of pipe in Existing assets continue to the ground is…
  41. 2020 Investor Day – TC Energy Corp. – slide 41
    Strong operational performance in 2020 despite COVID-19 U.S. demand recovered from COVID-19 Pipeline* Contracted capacity impacts with U.S. LNG exports reaching ANR 100% all-time high of 10 Bcf/d Columbia Gulf 100% GTN 100% U.S.…
  42. 2020 Investor Day – TC Energy Corp. – slide 42
    2020 Accomplishments Positioned to deliver record EBITDA for the 4th consecutive year On-track to complete US1.1 billion Modernization II program and Buckeye XPress Project on-time and on-budget at year-end Environmental and…
  43. 2020 Investor Day – TC Energy Corp. – slide 43
    Fundamentals support natural gas growth U.S. Demand U.S. Supply Bcf/d Bcf/d * 2019 Actual IHS 2040 IHS Feb Forecast EIA 2040 * Represents gross Canadian pipeline imports to the U.S. Source: IHS Markit, U.S. Long-Term Natural Gas…
  44. 2020 Investor Day – TC Energy Corp. – slide 44
    Attractive near-term growth Projects Supply / Demand Capacity Expected Estimated Capital Cost (Bcf/d) In-Service Date (USBillions) Projects in-service since 2016 7.7 7.9 Buckeye XPress Supply 0.3 Dec 2020 0.2 Grand Chenier XPress…
  45. 2020 Investor Day – TC Energy Corp. – slide 45
    Rate case optimization Columbia Gas Transmission Rate Case Litigation Settlement Q4 2020: Settlement +20 years Since last rate case filing discussions commence Q2 2021: Testimony by FERC and Intervenors +US1 billion Of cumulative…
  46. 2020 Investor Day – TC Energy Corp. – slide 46
    Well positioned for long-term growth Optimization and Electrification Like-for-like replacement and furthering the electrification of our fleet Connectivity Carbon Capture and RNG** Increasing capacity to LNG, Capturing and…
  47. 2020 Investor Day – TC Energy Corp. – slide 47
    Comparable EBITDA* outlook USBillions 16% CAGR Continuous value creation from our diversified portfolio * Comparable EBITDA is a non-GAAP measure. See the forward looking information and non-GAAP measures slide at the front of…
  48. 2020 Investor Day – TC Energy Corp. – slide 48
    Looking ahead On-time and on-budget Leverage our diversified Culture of continuous project execution portfolio improvement Consistent EBITDA growth Innovation and new technology New conventional and Safe, reliable delivery of…
  49. 2020 Investor Day – TC Energy Corp. – slide 49
    Mexico Natural Gas Pipelines system overview Assets connect Five pipelines transport 25% of Mexicos abundant, low-cost natural gas U.S. natural gas Portfolio value continues to increase supply to key markets 20% of U.S. natural gas…
  50. 2020 Investor Day – TC Energy Corp. – slide 50
    2020 Accomplishments Completed construction of Tula East segment and Guadalajara Pipeline Flow Reversal Amended the Guadalajara transport contract with the CFE Advanced Villa de Reyes project construction; in-service expected…
  51. 2020 Investor Day – TC Energy Corp. – slide 51
    Long-term demand drives increased U.S. imports Mexican natural gas demand by sector through 2040 U.S. natural gas imports to Mexico through 2040 Bcf/d U.S. natural gas imports 60% Bcf/d 8 7 2040 2030 5 2019 Natural gas…
  52. 2020 Investor Day – TC Energy Corp. – slide 52
    Completing projects reduces air emissions and promotes in-corridor expansions Project update Growth opportunities Guadalajara reversal Cross-border projects Displaces LNG supply with Waha natural gas Joint marketing of CFE U.S.…
  53. 2020 Investor Day – TC Energy Corp. – slide 53
    Comparable EBITDA* outlook USBillions 14% CAGR 99% of EBITDA underpinned by long-term, take-or-pay contracts * Comparable EBITDA is a non-GAAP measure. See the forward looking information and non-GAAP measures slide at the…
  54. 2020 Investor Day – TC Energy Corp. – slide 54
    Looking ahead Commission Villa de Reyes Connect to power and gas Leverage CFE relationship in mid-2021 users to increase to secure projects utilization Resolve CFE contract Pursue cross-border issues opportunities Promote…
  55. 2020 Investor Day – TC Energy Corp. – slide 55
    U.S. and Mexico Natural Gas Pipelines Stan Chapman Executive Vice-President and President, U.S. and Mexico Natural Gas Pipelines
  56. 2020 Investor Day – TC Energy Corp. – slide 56
    Liquids Pipelines Bevin Wirzba Executive Vice-President and President, Liquids Pipelines
  57. 2020 Investor Day – TC Energy Corp. – slide 57
    Liquids Pipelines system overview Access to 4,900 km (3,000 mi) of 14 million Bbl/d liquids pipelines of refining capacity Long-term, take-or-pay commercial structures Keystone Pipeline System Strategic corridor to key 20% of…
  58. 2020 Investor Day – TC Energy Corp. – slide 58
    North American oil is in the worlds best interest % proven global oil reserves % aggregated ESG scores Canada and U.S. Have the highest ESG performance ratings Third (Canada) and eighth (U.S.) largest proven global oil…
  59. 2020 Investor Day – TC Energy Corp. – slide 59
    2020 Accomplishments Safely delivered approximately three billion barrels since inception Successfully completed the Houston Tank Terminal Expansion project, on time and under budget Strengthened our commitment to working with…
  60. 2020 Investor Day – TC Energy Corp. – slide 60
    Sustained demand for Canadian crude oil Per cent Ex-Hardisty throughput utilization* U.S. crude oil inventory Million Bbl/d COVID-19 / OPEC+ U.S. crude oil inventory is decreasing, however remains above the five-year average…
  61. 2020 Investor Day – TC Energy Corp. – slide 61
    Canadian production resilient and a key supplier for U.S. Gulf Coast Canadian oil sands production U.S. Gulf Coast heavy crude oil refinery runs Million Bbl/d Million Bbl/d COVID-19 / OPEC+ COVID-19 / OPEC+ Source: IHS…
  62. 2020 Investor Day – TC Energy Corp. – slide 62
    Advancing Keystone XL Project Labor Five First Nations signed historic U.S./Canada Agreement agreement for equity ownership Final Investment border crossing announced with of up to 1 billion through Decision completed four U.S.…
  63. 2020 Investor Day – TC Energy Corp. – slide 63
    Growth opportunities The CFE announced 6.5 GW of new gas ASSET UTLIZATION AND ASSET fired power UTLIZATION plants by 2025 withAND 4 within GROWTH TCsGROWTH corridor1 Developing in-corridor projects Leveraging footprint fully…
  64. 2020 Investor Day – TC Energy Corp. – slide 64
    Comparable EBITDA* outlook Billions 11% CAGR EBITDA underpinned by long-term take-or-pay contracts with creditworthy counterparties * Comparable EBITDA is a non-GAAP measure. See the forward-looking information and non-GAAP…
  65. 2020 Investor Day – TC Energy Corp. – slide 65
    Looking ahead Continue safely Enhance existing business by Progress Keystone XL delivering Canadian crude to leveraging strategic footprint construction key refining markets Delivering Maximizing Executing Incorporate green…
  66. 2020 Investor Day – TC Energy Corp. – slide 66
    Liquids Pipelines Bevin Wirzba Executive Vice-President and President, Liquids Pipelines
  67. 2020 Investor Day – TC Energy Corp. – slide 67
    Power and Storage Corey Hessen Senior Vice-President, Power & Storage
  68. 2020 Investor Day – TC Energy Corp. – slide 68
    Power and Storage asset overview Power Seven power plants, approximately 4,200 MW Portfolio of low-cost baseload generation Underpinned by long-term contracts 75% emission-less generation Storage Alberta non-regulated natural gas…
  69. 2020 Investor Day – TC Energy Corp. – slide 69
    2020 Accomplishments Achieved solid financial results through safe and efficient operations Advanced Bruce Power life extension; Unit 6 MCR project preparation phase completed October 1 Bruce Power continued harvesting Cobalt-60…
  70. 2020 Investor Day – TC Energy Corp. – slide 70
    Bruce Power overview 48.4% ownership interest 6,400 MW (TC Energy share 3,109 MW) Provides 30% of Ontarios electricity needs Power sales fully contracted with Ontario IESO through 2064 Ontario Power Generation responsible for…
  71. 2020 Investor Day – TC Energy Corp. – slide 71
    Bruce Power Life Extension Program Major Component Replacement (MCR) and Asset Management (AM) continues to progress on time and on budget Unit 6 MCR commenced in January 2020 Unit 6 MCR and AM reflected in 79/MWh power price Future…
  72. 2020 Investor Day – TC Energy Corp. – slide 72
    Bruce Power innovations A leading supplier of medical isotopes Cobalt-60 helps to sterilize 40% of the worlds medical devices and treat complex forms of cancer Partnership established with the Saugeen Ojibway Nation to jointly market…
  73. 2020 Investor Day – TC Energy Corp. – slide 73
    Power market fundamentals capacity mix for North America GW Natural gas, solar and wind continue to displace coal Demand for energy storage increases Economic growth, demographics, electrification, energy efficiency and…
  74. 2020 Investor Day – TC Energy Corp. – slide 74
    Power and Storage growth opportunities Current business Technology today Transformative future technology Renewables: leveraging our footprint and competitive strengths Bruce Power Firming resources: pumped hydro and battery…
  75. 2020 Investor Day – TC Energy Corp. – slide 75
    Pumped hydro storage projects 75 MW Canyon Creek Ontario pumped hydro energy benefits: pumped hydro energy storage (0.2 billion) 490,000 tonnes = 150,000 cars per year reduction in taken off of the road greenhouse gas…
  76. 2020 Investor Day – TC Energy Corp. – slide 76
    Electrification of our operations Exploring opportunities to electrify our energy consumption Select electrification of pipeline compression Source renewable electricity for existing loads Enhancing sustainability across…
  77. 2020 Investor Day – TC Energy Corp. – slide 77
    Comparable EBITDA* outlook Billions Bruce Power MCR: Unit 6 offline 2020-2023 6% CAGR Sale of assets** Solid base with long-term future growth in earnings *Comparable EBITDA is a non-GAAP measure. See the forward looking…
  78. 2020 Investor Day – TC Energy Corp. – slide 78
    Looking ahead Operate safely and reliably Five additional Bruce Power Exploring low-risk North MCRs under development American investment Optimize operations opportunities Complete Bruce Power Pumped storage projects Increase fuel…
  79. 2020 Investor Day – TC Energy Corp. – slide 79
    Power and Storage Corey Hessen Senior Vice-President, Power & Storage
  80. 2020 Investor Day – TC Energy Corp. – slide 80
    Finance Don Marchand Executive Vice-President, Strategy & Corporate Development and Chief Financial Officer
  81. 2020 Investor Day – TC Energy Corp. – slide 81
    Core principles Adherence to Long-term view grounded in established, conservative risk Simple model and fundamentals preferences corporate structure Footprint is irreplaceable Assets are resilient and earn Business is understandable…
  82. 2020 Investor Day – TC Energy Corp. – slide 82
    ESG is a long-standing strength and priority ESG a modern moniker for how we have historically run our business Reputation is sacrosanct tremendous breadth and diversity of stakeholders Sixty-plus year legacy of integrity, safety,…
  83. 2020 Investor Day – TC Energy Corp. – slide 83
    2020 Accomplishments Billions 2020 Funding program complete Largely unimpacted asset utilization and performance of counterparties underscore criticality of our services Debt issuances, Fulfilling our obligations to people,…
  84. 2020 Investor Day – TC Energy Corp. – slide 84
    Diversified portfolio of critical energy infrastructure 2020E Comparable EBITDA* Power & Storage Canadian Natural Gas Pipelines Bruce fully contracted to 2064 Full cost of service under CER regulation Merchant Alberta power and gas…
  85. 2020 Investor Day – TC Energy Corp. – slide 85
    Financial risks and levers Counterparty Diverse and heavily investment-grade consolidated portfolio; monitoring certain WCSB and Appalachian producer exposures Mitigated by mix of regulation, value of transport, high contract…
  86. 2020 Investor Day – TC Energy Corp. – slide 86
    Advancing 37 billion secured capital program through 2023 Estimated Invested to Expected Project Secured capital program Capital Cost* Date* In-Service Date* universally backed by NGTL System 3.3 3.3 2020 high-quality,…
  87. 2020 Investor Day – TC Energy Corp. – slide 87
    Capital expenditure outlook 2021-2023 Billions 13.8 Secured growth portfolio Maintenance capital 90% has opportunity to earn a return on and of capital through current and future tolls 8.5 Capitalized interest and debt AFUDC 5.4…
  88. 2020 Investor Day – TC Energy Corp. – slide 88
    Funding program outlook 2021-2023 Billions KXL funding Target top credit in sector Debt maturities DRP Commercial Hybrid paper, Robust liquidity underpinned by: cash on hand Resilient and growing cash flow GoA guaranteed…
  89. 2020 Investor Day – TC Energy Corp. – slide 89
    Comparable EBITDA* outlook 2015-2024E Billions 12+ 7% CAGR Power & Storage 2024+ Bruce Power refurbishments 9.3 Liquids Pipelines 9% Traditional replenishment of CAGR project portfolio Mexico Natural Gas Pipelines Executable…
  90. 2020 Investor Day – TC Energy Corp. – slide 90
    Stability and longevity of core asset base Comparable EBITDA* (Billions) 10+ billion supplemented by US1.3 billion of KXL contracted EBITDA Completion of 37 billion secured growth program Predominately recoverable maintenance…
  91. 2020 Investor Day – TC Energy Corp. – slide 91
    Vast opportunity set the backdrop for continued disciplined growth Unparalleled demand for infrastructure under all energy mix scenarios Todays needs Low-carbon future Projects under Electrification Bruce Power MCR development of…
  92. 2020 Investor Day – TC Energy Corp. – slide 92
    Dividend growth outlook 8-10% anticipated in 2021 5-7% 3.24 Expected growth per annum 2021+ 7% CAGR 37 billion secured growth program Robust development portfolio Irreplaceable asset footprint driving in-corridor expansions…
  93. 2020 Investor Day – TC Energy Corp. – slide 93
    Historic yields 5.8% 4.6% 2.3% 1.0% 1.4% 0.8% Dividend highly attractive in historic low interest environment that is expected to persist Source: FactSet data from January 1, 2016 to November 10, 2020
  94. 2020 Investor Day – TC Energy Corp. – slide 94
    Value proposition Financial strength and Strong base of visible Simple, understandable and adherence to risk long-life, low-variability proven model with preferences again exhibited earnings streams irreplaceable asset footprint…
  95. 2020 Investor Day – TC Energy Corp. – slide 95
    Finance Don Marchand Executive Vice-President, Strategy & Corporate Development and Chief Financial Officer
  96. 2020 Investor Day – TC Energy Corp. – slide 96
    Closing Remarks Russ Girling, President and Chief Executive Officer Franois Poirier, Chief Operating Officer and President, Power & Storage
  97. 2020 Investor Day – TC Energy Corp. – slide 97
    Key takeaways Leading North American energy infrastructure company 100 billion of critical assets provide a strong competitive advantage Proven strategy underpinned by low-risk business model 95% of comparable EBITDA from regulated or…
  98. 2020 Investor Day – TC Energy Corp. – slide 98
    Appendix - Reconciliation of non-GAAP Measures
  99. 2020 Investor Day – TC Energy Corp. – slide 99
    Appendix Reconciliation of non-GAAP measures (millions of dollars) Three months ended September 30 Nine months ended September 30 2020 2019 2020 2019 Comparable EBITDA(1) 2,294 2,344 7,028 7,051 Depreciation and amortization (673)…
  100. 2020 Investor Day – TC Energy Corp. – slide 100
    Appendix Reconciliation of non-GAAP measures continued (millions of dollars) Three months ended September 30 Nine months ended September 30 2020 2019 2020 2019 Net Cash Provided by Operations 1,783 1,585 5,119 5,256…

From the store

Browse maps, data & reports in the Shale Experts store