Corporate overview 9.5 billion 8.1 billion 1,000% 1,600 enterprise value1 total assets2 total shareholder return3 employees2 Ticker Symbol: TSX: ALA Market Capitalization1 5.9 billion Dividend Yield1 4.0 percent Basic Shares…
A leading energy infrastructure company Investing in and operating infrastructure providing clean and affordable energy to North America and Asia 2 Bcf/d of natural gas transacted 1,529 MW of power generation in five fuel…
Strong drivers support our strategy Natural gas renaissance and demand for clean energy underpin our strategy Utilities Our natural gas utilities deliver clean and affordable natural gas to homes and Growing businesses…
Solid and diverse business Long life, diversified and profitable Gas, Power, and Utilities infrastructure EBITDA Diversified and balanced EBITDA profile 35% 30% 35% Power Utilities Gas 2009 2015F 5
Highly contracted earnings provide stability EBITDA 9% unhedged Frac and AB Power Hedged Contracted 2009 2015F Stable Hedged Unhedged 6
Growing regulated and contracted earnings Gas Power Utilities Strong contractual Northwest Projects increasing Grown Utility EBITDA by over underpinnings total contracted EBITDA to more 200 million since 2009 than 75 percent Majority…
Well protected against interest rate increases Significantly improved debt maturity profile 88 percent of debt fixed1 Contracts indexed to CPI Operating cost flow through mechanisms 4.6 year average maturity profile 9 year…
Strong growth in earnings and cash flow FFO per share1 Earnings per share1 3.45 1.44 1.07 2.69 2 2 2011 Current Forecasted 2011 Current Forecasted 1 Normalized 2 Based on a trailing twelve month period ended September 30,…
Capacity to grow our dividend and reinvest cash flow FFO per share Cash flow for Cash flow for reinvestment reinvestment Dividend growth capacity Solid Payout dividend range: growth Current dividend 40% - 50% Current…
Fully financed advanced growth opportunities Growth CAPEX 2015 - 2019 2B 1.5B Committed Under development Gas Power Utilities 12
Advanced growth opportunities highly contracted Growth CAPEX 2015 - 2019 2B 1.5B Committed Under development Regulated Contracted Non-contracted 13
7.5 billion in growth opportunities 2015-2019 Growth CAPEX 4B Utilities 2B Power 1.5B Gas Committed Under development Energy export expansions & other 14
Growing and improving our Utilities 1.6 billion rate base 1 600 million increase in rate base over next five years Million 41% 1,000 59% 800 Canada US 600 400 200 Capital spend Depreciation 0 1 2 3 4 5 6 7 8 9 10 2015E…
Growing and improving our Utilities Utility Growth projects Multi-year pipeline replacement & station refurbishment programs to ensure safe, reliable gas delivery systems Proposed Bedford Basin looping project will provide…
Growing our Power portfolio Grew portfolio 32% in 2014 75% of generation from clean energy sources1 1.5 billion capital spend program 2015 2019 195 MW Forrest Kerr and 16 MW Volcano Additional 391 MW Creek hydroelectric power…
Successfully completed the largest project in our history 195 MW Forrest Kerr facility brought 16 MW Volcano Creek facility brought online on time and on budget online two years ahead of schedule 18
66 MW McLymont Creek Ahead of schedule and on budget Powerhouse Milestone Status Complete intake access road Complete Complete 2.8 km tunnel Q1 2015 Construct intake and weir Q2 2015 Construct transmission line Mid-2015 and…
Northwest projects drive earnings growth Power EBITDA Other Northwest projects 2014 E 2015 E 20
Doubling the existing 507 MW Blythe facility Blythe II (Sonoran) Acquired Sonoran project for US8.5 million in Q2 2014 Blythe III Gas-fired project; fully permitted and shovel ready Blythe II Potential to double the size of the…
Growing our Gas portfolio 4 billion capital spend program 2015 2019 Increase gas processing capacity LPG export Increase gas expansion processing capacity LNG exports expansion Fractionation expansion Regional LNG LPG…
Need for new markets drive strategy New networks needed to process and deliver energy to new markets Liquids-rich plays offer producers opportunity to Montney and Duvernay estimated to have more realize higher netbacks than 3,000…
Gas strategy in action Competitive Need for new Acquired Idemitsu Kosan service offering; markets only natural Transportation joint venture strategic through gas pipeline logistics LPG export provides access alliance with energy to…
Well-head to markets: AltaGas LPG export offering Sourcing Logistics Markets RAW GAS Existing extraction, NGL Storage, rail & Ferndale processing & truck offloading2 Terminal1 fractionation Abundant natural gas New…
Growing our LPG business on the US west coast Ferndale Exporting LPG to Asia 750,000 Bbls of current storage capacity Exported 3,000,0001 Bbls this year Ramping up to 30,000 Bbls/d over next few years Replace Photo Potential…
Ferndale terminal 27
Targeting an additional 30,000 Bbls/d of LPG Site feasibility underway and in dialogue with potential off-takers 28
Well-head to markets: AltaGas LNG export offering Sourcing Logistics Markets Existing extraction, RAW processing & GAS fractionation Abundant natural gas New processing infrastructure ASIAN MARKETS PNG pipeline SALES…
PNG pipeline provides competitive advantage Only existing natural gas pipeline that connects to Kitimat and Prince Rupert Shippers backstop development costs Rate base growth Lower costs to current customers British…
Advancing Canadian west coast LNG terminal Douglas Channel LNG project: Phase I 0.55 million tonnes per year British Columbia capacity Douglas Channel site Existing pipeline capacity on PNG Consortium to provide barge District Lot…
Consortium partners Gathering and processing Independent shipping Leading participant world- capacity and access to company serving the global wide in the LNG market; WCSB supply oil and gas industry; 35 offers services including…
Planned LNG export barge phase I Source: EXMAR; Image of a floating LNG barge currently under construction 33
Longer-term LNG export opportunities Triton LNG: Owned 50/50 by AltaGas and Idemitsu 2.3 million tonnes per year approved by NEB Site being secured 34
Significant opportunities for processing infrastructure 25 billion Pursuing 1 Bcf/d of new processing capacity in expected Montney liquids-rich areas drilling capex1 25 Build-out of natural gas and NGL processing infrastructure in…
Townsend 198 Mmcf/d shallow-cut natural gas processing facility Located in the Montney resource play; 100 kilometers north of Fort St. John Painted Pony Petroleum Ltd. has rights to a minimum 150 Mmcf/d of firm capacity…
Regional LNG facilities 250 million investment over five years Plan for achieving 500,000 gallons per day over five years: Dawson Creek: 20,000 gallons per day Growing natural gas distribution network complements gas…
Creating shareholder value Diversified business strategy Significant competitive advantages TSR: 1,000%1 Strong and stable earnings and cash flow Strong yield and growth potential 10.22 1994 1999 Jan Listed on TSX 2015 1…
Appendix 39
Q3 2014 highlights Significant EBITDA growth Safely commissioned Forrest Kerr, the Million driven by new assets1 200 largest project in AltaGas history 180 15-year strategic alliance signed with 160 Painted Pony Petroleum Ltd.…
Strong track record of growth Normalized EBITDA Normalized Funds From Operations Million Million 600 500 500 400 400 300 300 200 200 100 100 0 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TTM1…
Capital allocation program drives growth Disciplined in managing balance sheet and allocating capital Excess Normalized FFO available Million for capex and dividend growth 500 400 300 26% Excess FFO 200 Dividend Payout…
Investment grade credit ratings EBITDA to Interest Debt to Total Available Credit Capital Facilities 6.0x Million 70% 2,500 5.0x 60% 2,000 50% 4.0x 40% 1,500 3.0x 30% 1,000 2.0x 20% 1.0x 500 10% 0.0x 0% 0 1 1 1 2011 2012…
Balanced debt and capital structure Manageable capital structure1 Average debt maturity of 9 years2 Million 600 2014 12% 45% 300 43% 0 Preferred Shares Common Shares Net Debt AltaGas Ltd. SEMCO PNG 1 As of September…
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