Market Information TSX Ticker Symbol IPL 52-week Price Range 21.81 - 33.43 Market Capitalization 10.7 billion Enterprise Value 14.8 billion Annualized Dividend 1.29/share Yield 3.9% Information as at close of markets on…
World Scale Energy Infrastructure Assets Oil Sands Conventional NGL Bulk Liquid Transportation Oil Pipelines Extraction Storage Transport 15% Gather 35% of of western Process 40% of 4th largest Canadian oil independent Canadian…
Areas of Operation 2013 Annual EBITDA Fort McMurray ALBERTA SASKATCHEWAN SCOTLAND DENMARK Edmonton North Sea Hardisty Cochrane IRELAND B.C. Extraction ENGLAND GERMANY Plant Calgary Empress II & V FRANCE…
Investment Value Proposition Strategic Strong Identified Financial Infrastructure Investor Growth Strength Assets Returns World scale 450 million of Solid balance Growing assets incremental sheet dividend stream EBITDA…
Significant Value Creation 23% CAGR in Total Assets 18% CAGR in Funds From Operations 16% CAGR in Total Return 23% CAGR in Revenue 26% CAGR in Enterprise Value 10Year Compound Annual Growth Rate from 2003 - 2013…
Dividend Growth /Share *Based on actual dividends to May 2014 and 0.1075/share per month thereafter 6
Strong Market Performance % 600 563% 550 500 450 400 350 300 250 200 150 99% 100 50 0 -50 2009 2010 2011 2012 2013 2014 Inter Pipeline Ltd. S&P/TSX Composite Total Return Index *Total return, including the reinvestment…
Recent Developments Announced eleventh consecutive and single largest increase to monthly dividends effective September 2013 Issued 900 million of unsecured medium-term notes in the Canadian public debt market in May 2014…
2013 Annual EBITDA 40% 9
Oil Sands Transportation Three major oil sands pipeline AOSP Imperial Kearl systems Suncor Fort McMurray Husky Sunrise Corridor AOC Cold Lake (85% ownership) JACOS Hangingstone Hangingstone FCCL Narrows Polaris Lake CNR…
Oil Sands Project Summary Capital LT Annual Pipeline Contract Revenue Implied Cost EBITDA Project System Type Start Date Multiple (mm) (mm) Cold Lake & CNRL Kirby South COS Commenced 95 35 2.7x Polaris Suncor Connection Polaris…
Commercially Secured EBITDA Profile Million 450 Cold Lake & Polaris: FCCL Narrows Lake 400 Polaris: Imperial Kearl Phase II Expansion 350 Polaris: AOC Hangingstone Phase I 300 Cold Lake: FCCL Foster Creek 250 Polaris: FCCL…
Polaris Pipeline Primary diluent transportation Imperial Kearl system to Albertas oil sands Suncor regions Fort McMurray Husky Sunrise Stable cost of service contracts JACOS Hangingstone AOC Hangingstone currently generating 74…
Cold Lake Pipeline Contracted to provide transportation for: Imperial Cold Lake Fort McMurray CNR Primrose/Wolf Lake/Kirby South FCCL Narrows Lake FCCL Foster Creek/Narrows Lake CNR Kirby Shell Orion FCCL Foster Creek Canexus…
Oil Sands Growth Opportunities Imperial Kearl Husky Sunrise Phase II Imperial Aspen Identified over 3 billion of Fort McMurray Cenovus Telephone Lake potential development AOC Hangingstone Expansion opportunities from 2016 and…
Oil Sands Volume Growth Bitumen 000s b/d Diluent 000s b/d *Source: CERI Study No.133 May 2013 17
2013 Annual EBITDA 24% 18
Conventional Pipelines Edmonton ALBERTA SASKATCHEWAN Calgary B.C. Bow River pipeline Medicine Hat Central Alberta pipeline Mid-Saskatchewan pipeline Lethbridge Glauconite Pekisko Sunburst Bakken Viking U.S.A.…
Conventional Oil Pipelines Major Shippers & Producers 3,700 km of oil pipelines servicing 135 producers Edmonton 3 key business components: Oil gathering;Hardisty Hardisty south transmission; Midstream marketing 100% fee based…
NGL Extraction Three large scale extraction Edmonton ALBERTA plants produced 109,200 b/d of NGLs* Strategically located on the TransCanada Alberta system Cochrane 6.2 bcf/d of extraction Extraction SASKATCHEWAN capacity Plant…
Historical Frac Spread Frac Spread: Mont Belvieu NGL less AECO Natural Gas US / US Gal 1.60 1.40 1.20 Closed extraction acquisition 1.00 0.80 15 year average frac spread: 54.6 US cents 0.60 0.40 0.20 0.00 Jan-04…
NGL Extraction EBITDA by Facility Million 200 150 100 50 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Empress II & V Cochrane 25
2013 Annual EBITDA 12% 26
Bulk Liquid Storage SCOTLAND Petroleum and petrochemical DENMARK storage facilities NORTHERN North Sea IRELAND Tyne Seal Sands Riverside Approximately 19 million barrels WALES Asnaes Immingham West Immingham East Stigsnaes…
European Strategic Drivers Long-life infrastructure assets Strong organic investment potential Geographic diversification, mature markets Stable political and regulatory environments Fee-based cash flow Experienced…
Projected EBITDA by Contract Type 2013 Annual EBITDA Projected 2015 10% 41% 60% 30% 37% 2013 Annual EBITDA was 616MM 31
Financial Strength Solid balance sheet and excellent access to capital markets 2,325 million medium term notes issued 1 billion in equity issued since January 2013 including DRIP proceeds Increased capacity on Inter Pipeline's…
Sustainable Dividends Million *Before sustaining capital; FFO is attributable to shareholders 33
Looking Forward Experienced management team with a solid track record of increasing shareholder value Continued focus on developing over 6 billion of major oil sands growth opportunities Oil sands transportation business expected…
Contact Information Christian Bayle President & CEO Brent Heagy Chief Financial Officer Jeremy Roberge Vice President, Capital Markets investorrelationsinterpipeline.com Inter Pipeline Ltd. Suite 2600, 237 4th Avenue SW…
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