Franois Poirier President and Chief Executive Officer
Solid first quarter 2021 operating performance Delivering the energy people need, every day. Safely. Responsibly. Collaboratively. With integrity. (1) Non-GAAP measures which do not have any standardized meaning as prescribed by…
Keystone XL update Recent developments Presidential Permit revoked on January 20, 2021 Subsequently agreed with the Government of Alberta (GOA) to formally suspend the project 2.2 billion after-tax asset impairment charge recognized…
Advancing 20 billion secured capital program through 2024 Secured capital program by segment (billions) Critical energy infrastructure that will power North America for decades to come Largely in-corridor expansions Underpinned by…
Vast opportunity set to drive continued disciplined growth Unparalleled demand for infrastructure under all energy mix scenarios Todays needs Low-carbon future Highly-executable Electrification Bruce Power MCR in-corridor expansions…
Dividend growth outlook 3.48* 5-7% 7% Expected future growth CAGR 20 billion secured capital program Robust development portfolio Irreplaceable asset footprint driving in-corridor expansions Deep capabilities and proven…
Don Marchand Executive Vice-President, Strategy & Corporate Development and Chief Financial Officer
Consolidated results of operations (millions of dollars, except per share amounts) three months ended March 31 2021 2020 Net (loss)/income attributable to common shares (1,057) 1,148 Specific items (net of tax): Keystone XL asset…
Business segment results(1) (millions of dollars) three months ended March 31 2021 2020 Comparable EBITDA(2) Canadian Natural Gas Pipelines 686 597 U.S. Natural Gas Pipelines 1,055 1,032 Mexico Natural Gas Pipelines 180 269…
Other income statement items(1) (millions of dollars) three months ended March 31 2021 2020 Comparable EBITDA(2) 2,492 2,535 Depreciation and amortization (645) (630) Comparable EBIT(2) 1,847 1,905 Interest expense (570) (578)…
Financial position continues to be strong Robust comparable funds generated from operations 2.0 billion in the first quarter which reflects the resiliency and criticality of our energy infrastructure portfolio Issued 500 million of…
Funding program outlook 2021-2023 Billions Financial strength and flexibility underpinned by: Robust, predictable cash flow from operations Access to capital markets on compelling terms Coastal GasLink effectively funded through…
Delivering long-term shareholder value Track Visible Attractive, growing Strong record growth dividend financial position 12% average 20 billion secured 5.7% yield Numerous levers annual total through 2024 available to fund 5-7%…
Question & answer period 16
Closing remarks Franois Poirier, President and Chief Executive Officer
First quarter 2021 conference call May 7, 2021
Appendix Reconciliation of non-GAAP measures (millions of dollars) three months ended March 31 2021 2020 Comparable EBITDA(1) 2,492 2,535 Depreciation and amortization (645) (630) Interest expense (570) (578) Allowance for funds…
Appendix Reconciliation of non-GAAP measures (continued) (millions of dollars) three months ended March 31 2021 2020 Net cash provided by operations 1,666 1,723 Increase in operating working capital 232 371 Funds generated…
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