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Q4 2020 Earnings Summary – Altagas Limited

Altagas Limited · Feb 26, 2021 · 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. Q4 2020 Earnings Summary – Altagas Limited – slide 1
    Q4/20 Earnings Summary February 26, 2021
  2. Q4 2020 Earnings Summary – Altagas Limited – slide 2
    Key Highlights: Constructive Quarter on Numerous Fronts; Long-term Strategy Remains Intact Normalized EPS1 of 0.53 in the fourth quarter and 1.42 for the full year in 2020 continued to 2020 Run Rate Normalized EBITDA demonstrate strong…
  3. Q4 2020 Earnings Summary – Altagas Limited – slide 3
    Q4/20 and 2020 Financial Results Summary Results Summary Q4/20 Financial 392MM 327MM 147MM 0.53 Normalized Normalized Normalized Normalized EBITDA1 FFO1 Net Income1 EPS1 Results Summary 2020 Financial 1.31B 1.00B 396MM 1.42…
  4. Q4 2020 Earnings Summary – Altagas Limited – slide 4
    Key Variances 5
  5. Q4 2020 Earnings Summary – Altagas Limited – slide 5
    Consolidated: Q4/20 vs. Q4/19 Core Businesses Demonstrate Strong Durability, Despite COVID-19 Challenges Normalized EBITDA1 ( millions) 436 -26 Q4 run-rate EBITDA remains stable, despite Covid-19 and other macro headwinds -13 397…
  6. Q4 2020 Earnings Summary – Altagas Limited – slide 6
    Consolidated: FY 2020 vs. FY 2019 Strong Growth in Core Businesses Despite Ongoing COVID-19 Challenges Normalized EBITDA1 12% Growth in Run-rate EBITDA2 ( millions) 117 MM 1,302 -21 lost due to 1,310 asset sales 40 7 99…
  7. Q4 2020 Earnings Summary – Altagas Limited – slide 7
    Accounting Policy Change Impact on Year-Over-Year Results Consolidated: FY 2020 vs. FY 2019 Normalized EBITDA1 Prior to 2020 AltaGas normalized ( millions) EBITDA included adjustments for changes in fair value of natural gas U.S.…
  8. Q4 2020 Earnings Summary – Altagas Limited – slide 8
    Utilities: Q4/20 vs. Q4/19 Utilities Business Demonstrates Solid Performance Driven by Ongoing Capital, Regulatory and Cost Discipline Normalized EBITDA1 4% Y/Y growth in run-rate EBITDA2, despite weather usage and ongoing Covid-19…
  9. Q4 2020 Earnings Summary – Altagas Limited – slide 9
    Midstream: Q4/20 vs. Q4/19 Midstream was impacted by Covid-19 during the quarter but market fundamentals continue to improve Normalized EBITDA1 ( millions) -21 Covid-19 Headwinds Impacted the Quarter 179 -5 -25 153 128 Q4…
  10. Q4 2020 Earnings Summary – Altagas Limited – slide 10
    Corporate/Other: Q4/20 vs. Q4/19 Normalized EBITDA1 ( millions) 10 5 -3 -5 -2 Q4 2019 Q4 2020 Asset Sales Q4 2019 Run-Rate2 Corporate Actual Actual Pomona Higher CES revenue and lower expense Blythe Lower corporate…
  11. Q4 2020 Earnings Summary – Altagas Limited – slide 11
    Q4/20 Normalized EBITDA Variance ( millions) Q4 2020 Normalized EBITDA1 Q4 2020 Q4 2019 Variance Q4 2020 vs Q4 2019 Normalized EBITDA Drivers + SEMCO higher rates + US Retail higher margins and lower expenses + ARP Spending and…
  12. Q4 2020 Earnings Summary – Altagas Limited – slide 12
    2021 Outlook 13
  13. Q4 2020 Earnings Summary – Altagas Limited – slide 13
    2021 Outlook Unchanged Strong Growth in Base Business Underpins 2021 Outlook 2021 Normalized EBITDA1 Guidance2 2021 Normalized EPS1 Guidance2 ( millions) (per share) 1,400 - 1,500 1.45 - 1.55 2021e 2021e Utilities Midstream…
  14. Q4 2020 Earnings Summary – Altagas Limited – slide 14
    2021 Normalized EBITDA1 Drivers Normalized 2021E EBITDA1 Growth Drivers 2021 Normalized Revenue and rate base growth through EBITDA1 Guidance2 disciplined capital allocation and rate cases ( millions) Achieving higher returns on…
  15. Q4 2020 Earnings Summary – Altagas Limited – slide 15
    2021 Disciplined Capital Allocation Strong Organic Growth Drives Robust Risk-adjusted Returns 910 million in top-quality projects anticipated to drive earnings growth Capital Allocation Criteria: Corporate/ Other 2%…
  16. Q4 2020 Earnings Summary – Altagas Limited – slide 16
    Understanding Our Business Who We Are: A leading North American energy What We Do: Operate a diversified, low-risk, high-growth Our Core infrastructure company that connects NGLs and Utilities and Midstream business that is focused on…

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