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Debt Investor Meeting – Transalta Corp.

Transalta Corp. · Nov 30, 2013 · 26 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. Debt Investor Meeting – Transalta Corp. – slide 1
    A final base shelf prospectus containing important information relating to the securities described in this document has been filed with the securities regulatory authorities in each of the provinces of Canada. A copy of the final base…
  2. Debt Investor Meeting – Transalta Corp. – slide 2
    Agenda: Overview & Strategy Operations Growth Financial Summary Recap 3
  3. Debt Investor Meeting – Transalta Corp. – slide 3
    Overview & Strategy 4
  4. Debt Investor Meeting – Transalta Corp. – slide 4
    TransAlta Key Messages 9,000 MW spanning multiple fuels and Leading Diversified Power markets Generation Company Over 75 facilities 2,200 MW of renewable energy 100 years of operating history Proven Track Record Disciplined…
  5. Debt Investor Meeting – Transalta Corp. – slide 5
    Our Business Among Canadas largest publicly traded wholesale power Coal: generator & marketers with over 100 years of operating 4,926 MW 1 experience 9,000 MWs strategically positioned in Canada, Western U.S. Gas: and Western…
  6. Debt Investor Meeting – Transalta Corp. – slide 6
    2013 Business Highlights Stabilizing cash flows and extending the life of assets through re-contracting Contract extension for 245 MW in Australia (Q4) 20-year contract for 74 MW at Ottawa with Ontario Power Authority (Q3) 24-year…
  7. Debt Investor Meeting – Transalta Corp. – slide 7
    Track Record of Credit Positive Actions Committed to maintaining investment grade ratings Completed a number of credit positive transactions in the past three years: Common equity and preferred share issuances of 1.8 billion…
  8. Debt Investor Meeting – Transalta Corp. – slide 8
    Operations 9
  9. Debt Investor Meeting – Transalta Corp. – slide 9
    Diversified and Highly Contracted Portfolio Diversification supports stable, steady cash flow GEOGRAPHIC DIVERSIFICATION (MW)1 Australia 5% U.S.A. 23% Western Canada Eastern 58% Canada 14% FUEL TYPE DIVERSIFICATION…
  10. Debt Investor Meeting – Transalta Corp. – slide 10
    Highly Contracted Portfolio with Upside Potential Hedge strategy underpins cash flow stability Total Portfolio Contractedness1 MW 90% 83% 78% 77% 2013 Contracted Prices AB 60/ MWh Pac NW 40/ MWh 2014 Contracted Prices AB…
  11. Debt Investor Meeting – Transalta Corp. – slide 11
    Environmental Leadership TransAlta is competitively positioned to mitigate emissions costs through early engagement, a portfolio of initiatives and pass through contracts Cost pass through under change-in-law provisions of Alberta…
  12. Debt Investor Meeting – Transalta Corp. – slide 12
    Canadian Federal GHG Emissions Regulations Canadian Federal regulations were amended to extend the useful life of coal-fired plants to 50 years, from 45 years Weighted average life of TransAltas Alberta coal fleet is 19 years under…
  13. Debt Investor Meeting – Transalta Corp. – slide 13
    Historical Power Prices in Alberta Since deregulation, AB Pool prices have averaged 65 / MWh Source: AESO 14
  14. Debt Investor Meeting – Transalta Corp. – slide 14
    Alberta Electricity Market Drivers Steady Load Growth Across Alberta Declining Reserve Margins Alberta continues to see considerable Alberta Interconnected Electric System demand growth due to industrial and mining (AIES) Reserve…
  15. Debt Investor Meeting – Transalta Corp. – slide 15
    Significant Upside Potential Post Alberta PPA Expiry Expiry of the Alberta Coal and Hydro PPAs expected to provide significant EBITDA upside and debt service coverage Indicative EBITDA Estimate for Alberta PPA Assets1,2 Assuming…
  16. Debt Investor Meeting – Transalta Corp. – slide 16
    Growth 17
  17. Debt Investor Meeting – Transalta Corp. – slide 17
    TransAltas 5-Year Growth Track Record Disciplined growth with a focus on contracted assets1 2008 2009 2010 2010 2011 80 MW 694 MW 123 MW 132 MW Kent Hills Canadian Hydro Ardenville / Kent Hills 2 Summerview 2 / Blue Trail…
  18. Debt Investor Meeting – Transalta Corp. – slide 18
    Mid-American Strategic Partnerships Strategic partnerships, which build on existing relationship with MidAmerican, the utilities-focused, privately owned subsidiary of Berkshire Hathaway TAMA Power: Partnership will originate and…
  19. Debt Investor Meeting – Transalta Corp. – slide 19
    TransAlta Renewables (RNW on the TSX) 29 6 1,256 86 renewable power operating megawatts installed million current generation facilities regions generating capacity annual dividend Significant Benefits to TransAlta Corporation…
  20. Debt Investor Meeting – Transalta Corp. – slide 20
    Funding Growth TransAlta has access to a number of sources of equity-like capital to fund growth, and will fund in a manner that is consistent with investment grade metrics Internally Generated Cash Flow Increases significantly once…
  21. Debt Investor Meeting – Transalta Corp. – slide 21
    Financial Summary 22
  22. Debt Investor Meeting – Transalta Corp. – slide 22
    Stable Financial Performance Results 9 MONTHS 9 MONTHS 2012 2011 2010 (in millions CAD, except where noted) 2013 2012 Revenues 1,705 1,564 2,262 2,663 2,673 Comparable EBITDA 780 701 1,014 1,045 963 Funds from Operations 550 572 776…
  23. Debt Investor Meeting – Transalta Corp. – slide 23
    Strong Liquidity & Balance Sheet Liquidity at September 30, 2013 2.1B of Credit Facilities 1.0B Available Liquidity 1.5B 1.0B Available Syndicate 0.3B Letters of Credit 0.6B 0.8B Drawn Bilaterals 2012 & 2013 Capital…
  24. Debt Investor Meeting – Transalta Corp. – slide 24
    Debt Maturity Profile Debt Profile1,2,3 0.9 billion of Canadian debentures 2.0 billion of U.S. Senior Notes 0.4 billion of non-recourse debt Investment grade credit ratings: DBRS: BBB / Stable S&P: BBB- / Stable 800 USD…
  25. Debt Investor Meeting – Transalta Corp. – slide 25
    Recap 26
  26. Debt Investor Meeting – Transalta Corp. – slide 26
    Recap of Investment Highlights Diversified, highly-contracted generation portfolio located in markets with strong fundamentals Extending life and reducing merchant risk of asset base through new contracts Expected significant cash…

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