Third quarter 2022 conference call NOVEMBER 9, 2022
Call participants Franois Poirier - President and Chief Executive Officer Joel Hunter - Executive Vice-President and Chief Financial Officer Stanley G. Chapman, III - Executive Vice-President and Group Executive, U.S. and Mexico Natural…
FRANOIS POIRIER, PRESIDENT AND CEO 4
Q3 2022 Strong EBITDA and record flows Revising 2022 EBITDA Operational Delivering long-term outlook higher excellence value Anticipate a 4% year- Record flows on U.S. Sanctioned 7.8 over-year Comparable and Canadian billion of…
Capital rotation is a core competency Expected goal through 2023: Raise 5 billion+ from the sale of discrete non-core assets and/or minority interests Objectives Considerations for Proven track record capital rotation Accelerate…
U.S. Natural Gas Pipelines Delivering growth and record flows Q3 and year-to-date accomplishments Tracking to 6th consecutive year of record EBITDA Q3 2022 USNG LNG Flows (avg.) RECORD SYSTEM FLOWS 3Bcf/d Bcf/d, Average Daily 28…
Mexico Natural Gas Pipelines A transformative year 1 Q3 and year-to-date accomplishments 2 VdR North and Tula East in-service in Q3 2022 4 Recovery on/of all capital on projects with phased in-service Sanctioned US4.5 billion…
Q3 and year-to-date accomplishments Canadian Natural Gas Sanctioned VNBR project utilizing non-emitting electric Pipelines compression to connect migrating supply 500 MMcf/d of incremental capacity Executed revised agreements with…
Highlights Liquids Pipelines Commercialized 30,000 Bbl/d YTD of contracted volumes on Keystone Pipeline Successful Marketlink open season underpinned by investment grade customers Maximizing value through operational excellence…
Power and Energy Solutions Peak availability during peak demand /MWh 2022 Alberta Pool Price Alberta Power pool prices averaged 222/MWh during all hours average 300 Q3 2022 266 YTD 2022 MCR Unit 6: remains on-time and on-budget…
2022 Priorities and progress Safely deliver the energy people need, every day Q3 and other highlights Increase return on capital invested in existing assets Started generating revenue on VdR and Tula projects Increased long-haul…
Published 2022 Report on Sustainability, ESG Data Sheet and Reconciliation Action Plan Key highlights Whats new Exceeded gender target for Board composition (38% in 2022) Conducted independent 3rd party limited assurance Increased…
JOEL HUNTER, EXECUTIVE VICE-PRESIDENT AND CFO 14
Comparable EBITDA(1) up 10 per cent year-over-year Comparable EBITDA(1) Comparable Earnings(1) Millions Millions 10% 1,200 10% 2,500 2,461 -43 -2 2,400 129 -70 1,100 35 33 223 -50 1,068 -55 36 -7 0 10 2,300 82 1,000 2,238…
Revising 2022E outlook higher Comparable EBITDA(1) Millions Interest Rates 25 bps change in interest rate = 15 million impact on financial Comparable charges; 0.01 impact on EPS EBITDA(1) expected to be 4% higher Foreign…
Reiterating Comparable EBITDA(1) outlook 2021-2026E Billions Additional growth 14 opportunities and enhancements 12 10 6% 8 CAGR 6 4 2 0 2021 2026E Power and Energy Solutions Liquids Pipelines Mexico Natural Gas…
Industry leading Portfolio expected to deliver a 34 billion, fully sanctioned weighted average unlevered secured capital program after-tax IRR of 7-9 per cent Billions Villa de Reyes Regulated Recoverable lateral and south…
Funding program outlook 2022-2026E Billions Sustainable growth in long-term cash flows drives: 70 Deleveraging Incremental long-term debt and hybrid capacity 60 Debt maturities Funding for accretive growth projects and redemptions…
Stable and consistent dividend growth Declared a fourth quarter 2022 dividend of 0.90 per share, equivalent to 3.60 per share annually TCs current share price implies a 6.0% dividend yield(1) 3.60* CAGR 7% 0.80 2000…
Reaffirming our value proposition LONG-TERM VIEW Strategic outlook is grounded in fundamentals Our unique value DISCIPLINED APPROACH Adherence to well-established, conservative risk preferences proposition CAPITAL ALLOCATION Balances…
Third quarter 2022 conference call Appendix NOVEMBER 9, 2022 22
Demonstrating strong financial results(1) Three months ended September 30, 2022 Comparable earnings Comparable EBITDA(1) Comparable funds generated per common share(1) (millions of dollars) from operations(1) (dollars) (millions of…
Consolidated results of operations (millions of dollars, except per share amounts) Three months ended Sept 30 2022 2021 Net income attributable to common shares 841 779 Specific items (net of tax): Expected credit loss provision…
Appendix A Financial results GAAP measures Three months ended September 30, 2022 Net Income per Common Share Segmented Earnings Net Cash Provided by Operations (dollars) (millions of dollars) (millions of dollars) 1,784 1,544…
Appendix B Business segment results GAAP measure Millions of dollars Three months ended Sept 30 2022 2021 Segmented earnings Canadian Natural Gas Pipelines 409 343 U.S. Natural Gas Pipelines 714 692 Mexico Natural Gas Pipelines…
Appendix C Comparable EBITDA and comparable earnings GAAP measure Millions of dollars Three months ended Sept 30 2022 2021 Comparable EBITDA(1) 2,461 2,238 Depreciation and amortization (653) (610) Interest expense included in…
Appendix D Funds generated from operations and comparable funds generated from operations GAAP measure Millions of dollars Three months ended Sept 30 2022 2021 Net cash provided by operations 1,701 1,712 (Decrease)/Increase in…
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