Investor Presentation Barclays Colorado Utilities Field Trip 2014
Emera at a Glance Ticker Symbol EMA (TSX) 80% of 2013s Net Income was 11% FiveYear Annualized Total 15.3% from regulated investments Shareholder Return (as of Q3 2014) (S&P TSX Utilities Index 9.5%) Total Shareholder Return YTD…
Emera Investments Algonquin (22.0%) 4
RI RI RI RI RI NOVA EMERA PIPELINES EMERA EMERA CORPORATE EMERA NEWFOUNDLAND SCOTIA MAINE CARIBBEAN ENERGY AND OTHER / LABRADOR POWER (100%) TRANSMISSION (100%) 4.27 billion 1.20 billion 726.4 million 1.09 billion 1.32 billion…
BARCLAYS COLORADO UTILITIES FIELD TRIP 2014 Strategic Overview 6
Emera Strategy Market Opportunity: Environmental Regs & Standards Social & Political Demand Demand For Cleaner Affordable Energy Drivers FuelSource Diversification Energy Independence & Stability Emera Strategy: Renewables…
BARCLAYS COLORADO UTILITIES FIELD TRIP 2014 Major Initiatives
Lower Churchill Phase 1 and Maritime Link MUSKRAT FALLS (MF) GENERATION & LABRADOR TRANSMISSION (LTA) 4.2 billion project value 824 MW hydroelectric facility 4.9 TWh/yr 100% Nalcor owned LABRADOR ISLAND LINK (LIL) 2.79 billion…
Maritime Link Project 500 MW +/200 kV 170 km HVdc subsea cable 400 + km of overland transmission 230kVac, +/200 Kvdc, and Grounding lines Divided into three distinct areas: Western Newfoundland Cabot Strait Cape Breton,…
Major Activities in 2014 Tree Clearing HDD Geotech work Nexans awarded ABB awarded subsea cable contract converter contract 11
Project Cost Certainty With 4% of contracts remaining to go to market and a high confidence in owners costs, Emera has a high degree of confidence in the costs to complete the project being within budget. 12
Construction Schedule 13
Maritime Link Key Milestones Achieved final regulatory approval in Nova Scotia November, 2013 Construction start Q1 2014 Maritime Link Financing Q2 2014 Financial Close for Federal Loan Guarantee Q1 2014 Financing/ Bonds issued Q2…
Northeast Transmission Development MUSKRAT FALLS (MF) GENERATION & LABRADOR TRANSMISSION (LTA) NL LABRADOR NEW ENGLAND ELECTRICITY MARKET ISLAND LINK QC (LIL) Strong interest in procuring renewable energy from Northern…
Emera Maine/ Central Maine Power MOU Emera Maine and Central Maine Power announced an MOU on July 7, 2014. The objective is to design and propose a more optimized AC transmission solution to collect and deliver large…
Gas Generation in New England Facility Bridgeport Tiverton Rumford Capacity (MW) 520 265 265 Location Connecticut Rhode Maine Island COD 1999 2000 2000 Turbines Siemens GE 7FA GE 7FA Heat Rate 7.1 7.1 7.1 YTD 14 Capacity Factor 58% 64%…
Emeracizing the Assets Important operational improvements bringing assets in line with the Emera Way. DeRisk Improve Expand Bridgeport LTSA Bridgeport Outage/Upgrade Tiverton Upgrade Potential Leadership Change Out…
Capacity Value Increasing Capacity Revenues FCA5 FCA8 35 M in capacity revenues from FCA5 (M) (1415) (1718) results (June/2014May/2015); Bridgeport Increasing value anticipated at 17 40 acquisition, arriving earlier; Tiverton 9…
Gas to Maritimes Local Market NL QC ON Corridor Resources PE Canaport LNG NB Sable Offshore Energy ME NS VT NH NY MA CT RI Deep Panuke PA NJ 20 WV MD
Gas to Maritimes NL SUPPLY OPTIONS Marcellus supply via new and QC STRATEGIC FOCUS existing pipeline infrastructure; Source gas supply for Emeras Western Canada Sedimentary Basin Canadian Markets; (WCSB) supply via new and…
STRATEGIC FOCUS Caribbean Gas Lower Emissions; Stabilize and reduce costs for customers FLORIDA GRAND BAHAMA GAS TO BAHAMAS Application with Department of Energy to export gas ANTIGUA 6 Mmcf/day can be increased up to 25…
Tidal Power & Ocean Energy Emera part of a group, led by OpenHydro, to deploy multiphase tidal array in Bay of Fundy. Goal is to develop a commercial tidal industry in the region. Phase 1 (2015): 4 MW array. 2 (2017):…
BARCLAYS COLORADO UTILITIES FIELD TRIP 2014 Financial Update 24
Strong Operating Cash Flow (in millions of CAD) Q3 2014 TTM 714 2013 564 USGAAP 2012 398* 488 USGAAP 2011 400 USGAAP 2010 419 USGAAP 2009 310 CGAAP 2008 237 CGAAP * 2012 operating cash flows reflect a 90 million voluntary…
Capital Plan (Visible and Committed) 20152017 3.45B (in millions of CAD) Other 1,276 Emera Newfoundland 1,202 69 Base Utilities 201 966 130 680 545 365 456 527 471 2015 2016 2017 NOTES: Amounts exclude AFUDC 28
Timing of Investments Maritime Link and Labrador Island Link (in millions CAD) Maritime Link Equity Maritime Link Debt 390 Labrador Island Link Equity 355 150 165 150 120 68 70 170 145 80 0 27 33 40 20112012…
Emeras Capital Structure and Financing Activity 9% Capital Structure Q3 ** Financing Plan Considerations 2014 Focus on driving cash flow & cash from internal sources 41% 50% Eye on rating agency metrics (FFO/Debt,…
Financing Emeras Capital Plan Sources of Capital (2015 to 2017) Common Equity 0 to 0.25B Financing Plan for 3.45b Capital Plan (2015 2017) 0.1 0.3B new MTN debt financing 0.3 0.7B new Preferred Share financing Preferred…
Summary Why Invest in Emera STABLE EARNINGS 7585% regulated earnings target. Adjusted earning per share CAGR of 8.1% over last 5 years. DIVIDENDS 6% Annual Growth Rate target through 2019. Dividend Yield of 4.0%; Dividend per…
Contact Information Investor Relations Contact: Scott LaFleur, MBA, CMA Acting Manager, Investor Relations Direct: 9024286375 Email: scott.lafleuremera.com 33
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