Agenda Annual General Meeting May 1, 2014 Annual Report to Shareholders Election of Directors Appointment of the Auditors Further Business Update from David Cornhill, Chairman and CEO 1
David Cornhill Chairman and Chief Executive Officer 2
Think AltaGas We provide clean and affordable energy to our customers in North America Strong track record of creating shareholder value Expect 10 percent CAGR in earnings and cash flow per share Growth opportunities across all…
20 years ago and 37,000 in seed capital 1994 3.5 million 5% 12 km 20 total assets interest in first extraction plant gathering lines employees See forward-looking statements & information 5
Our history: 1995 - 1999 0.5 billion 429 million 4,500 km 232 enterprise value total assets gathering lines employees As of Dec. 31, 1999 Acquired AUI - First investment in natural gas distribution utility Listed on the…
Our history: 2000 - 2004 1.6 billion 1 billion 169% 600 enterprise value total assets total shareholder return employees As of Dec. 31, 2004 Listed on TSX & first public debt issue First dividend of 0.03 per share 50%…
Our history: 2005 - 2009 2.5 billion 2.6 billion 274% 900 enterprise value total assets total shareholder return1 employees As of Dec. 31, 2009 Acquired Blair Creek and Taylor Interests in over 70 gas processing…
We have an exceptional 20-year history 9.4 billion 7.4 billion 1,081% 1,600 enterprise value total assets1 total shareholder return2 employees As of April 28, 2014 1 Asof March 31, 2014 2 Based on a 100 investment made on July…
Our success is driven by people 1,600 dedicated employees across Canada and the US See forward-looking statements & information 10
First Nations and community engagement Building long-term relationships and providing sustainable benefits to the communities in which we operate See forward-looking statements & information 11
Safety & Environment Committed to protecting employees, the public, and the environment See forward-looking statements & information 12
2013 was another exceptional year Total Assets Enterprise Value +23% +27% 9 billion 7 billion 7 billion 6 billion 2012 2013 2012 2013 See forward-looking statements & information 13
Expanded our power footprint in the US 507 MW and 67 mile transmission line Blythe Energy Center Natural gas-fired combined cycle power plant Located in Blythe, California PPA out to 2020; stable and predictable cash flows…
Northwest projects Progressing ahead of schedule and on budget 277 MW Forrest Kerr Volcano Creek McLymont Creek See forward-looking statements & information 15
Delivered record EBITDA and cash flow in 2013 EBITDA Earnings per share1 FFO per share1 ( millions) +51% +31% +17% 1.51 3.47 509 1.15 2.96 337 2012 2013 2012 2013 2012 2013 1Normalized 16 See forward-looking…
Proven track record Annual dividend1 Total shareholder return2 Payout ratio3 ( per common share) +6% +40% -9% 1.53 47% 43% 1.44 2012 2013 2012 2013 2012 2013 1 Annualized 2 Based on 100 investment made on December 31,…
Q1 2014 highlights Significant EBITDA growth driven Record normalized earnings and FFO of Million by new assets1 73.7 million and 129.8 million 200 180 Normalized EPS of 0.60 160 Normalized EBITDA of 179.2 million 140 Increased…
2.5 billion in base business growth 2014-2018 Over 600 million underway between 2014 and 2015 10 billion and beyond Gas: Cold Lake, Alton, Regional LNG, JEEP 190 million 9.4 billion1 Power: Cogen III, Northwest Projects 260…
8 billion in growth opportunities Committed Under Development Under Evaluation 1.4 billion 2.5 billion 4.2 billion Power projects Power projects Forrest Kerr Natural gas fired peakers in AB Volcano Blythe expansion McLymont Cogen…
Petrogas Ferndale Terminal acquisition completes the LPG export equation Ferndale Terminal Acquisition announced in March 2014 Located in the State of Washington Capacity to handle up to 30,000 Bbls/d Natural gas processing…
Significant progress made on LPG export strategy LPG U.S. west coast Early mover advantage through Petrogas Ferndale Terminal acquisition Capacity of up to 30,000 Bbls/d Begin exporting as early as Q2 2014 B.C. west coast AIJV…
Japan offers attractive LPG markets Sendai JX Nikko Nisseki Energy Kobe Tokuyama Tatsumi Shokai Negishi Idemitsu Kosan Tokyo Gas Chiba Idemitsu Kosan Sakaide Zenno Aichi Idemitsu provides access to Idemitsu the largest…
Advancing LNG export opportunities Douglas Channel LNG project1 AIJV working with others to support restructuring the project May 5 expected target date for term sheets completion Phase 1: Consortium would accept 80 mmcf/d of…
PNG pipeline expansion and Triton LNG PNG pipeline expansion Only existing natural gas pipeline that connects to Kitimat and Prince Rupert Shippers backstop development costs Rate base growth Lower transportation tolls Triton…
Significant dividend growth Annualized Dividend 1.80 1.60 1.40 1.20 1.00 2012 2013 2014 See forward-looking statements & information 26
Creating shareholder value Strong track record of creating shareholder value TSR: 1,081%1 Expect 10 percent CAGR in (1999 2014) earnings and cash flow per share Several growth opportunities Strong dividend and capital growth…
At AltaGas, weve kept our word: AltaGas has been very successful in exploiting existing opportunities and building a base of future cash flows; however, many challenges are ahead. We must grow and diversify our business to…
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