Our focus Invest in and operate infrastructure providing clean and affordable energy to our customers in North America 2.5 billion in base business growth opportunities Well positioned to realize on energy export opportunities…
Its all about clean energy and abundant natural gas Our midstream Gas infrastructure processes and moves natural gas to key markets Natural gas renaissance Our natural gas Our power assets utilities deliver clean Utilities…
Were a leading energy infrastructure company EBITDA3 8 billion enterprise value1 Gas Utilities 34% 39% 1,400 MW of power Power generation2 27% Serve over 550,000 customers US 32% Canada 68% 2 Bcf/d of natural gas…
We have significant capacity to grow our dividend Payout Potential mid-teen Range: percentage 41%2 40 - 50% dividend growth 2013 TTM1 E FFO FFO 1 Asof September 30, 2013 2 Asa percentage of normalized FFO 6 See…
AltaGas Gas portfolio Liquids-rich. Long-term. Contracted. Gas processing: Touching over 2 Bcf/d Processing capacity: 2/3 serving liquids-rich areas Growth: . Focused on maximizing asset utilization, building new infrastructure to…
Abundant natural gas supply Significant growth in reserves 30 Tcf per year of natural gas production in North America 450 Tcf of marketable natural gas reserves in the Montney formation alone At current consumption rates the…
Strategically positioned to grow Gas business Significant drilling activity in liquids-rich plays Over 1.5 Bcf/d processing capacity in the region Drilling continues to be active in the Montney Duvernay is showing very…
Expanding North American market reach See forward-looking statements & information 11
AltaGas Power portfolio Providing clean energy across North America Power generation: 1,372 MW1 5 fuel types: Wind, hydro, biomass, gas and coal Growth: -Cogen III -Forrest Kerr -Volcano -McLymont TTM EBITDA: 139M2 1Includes 277 MW…
Our power business has more than doubled 2011 - 2015 1,372 MW1 Asset MW2 Added to portfolio: McLymont 66 2015 Volcano 16 2014 Forrest Kerr 195 2014 Harmattan Cogen III 15 2015 Blythe 507 2013 Busch Ranch 14 2012 500 MW…
Powering North America Canada = 815 MW1 US = 557 MW 425 MW in Alberta 507 MW in California 353 MW of coal-fired through Power Gas-fired Purchase Agreement 15 MW in Colorado 72 MW of gas-fired Wind 390 MW in British Columbia 24 MW…
Completing Forrest Kerr ahead of schedule and on budget Powerhouse Mechanically complete 195 MW capacity 60-year fully indexed EPA with BC Hydro Capital cost estimate: 725 million 100 million annualized EBITDA Commercial…
Strong capacity factor of 55 to 60 percent Estimated annual Predictable, sustainable hydrology EBITDA forecast1 Discharge (M3/s) 900 Water flow used for generation 800 700 600 500 400 300 200 Design discharge of…
Volcano Creek Overview Powerhouse 16 MW capacity 60-year fully indexed EPA with BC Hydro In-service 2014, two years ahead of schedule See forward-looking statements & information 17
McLymont Creek Overview Tunnel 66 MW capacity 60-year fully indexed EPA with BC Hydro In-service estimate mid-2015 See forward-looking statements & information 18
Clean energy demand drives growth in power Blythe Energy Cogen III Alberta power Center expansion Delivering organic market opportunity growth opportunity 507 MW natural gas-fired 4.2 percent forecast 15 MW expansion at combined…
AltaGas Utilities portfolio Delivering clean and affordable energy to homes and businesses 5 Utilities: Serving over 550,000 customers Rate base: More than doubled in 2012 to 1.3B Growth: - Economic growth - Fuel conversion - System…
Our Utilities have more than doubled 2013 rate base = 1.3 billion 2011 rate base = 500 million See forward-looking statements & information 21
Strong rate base growth 500 million or 35 percent increase in rate base Million over next five years 600 500 400 300 200 100 0 2014 2015 2016 2017 2018 Capital Spend Depreciation See forward-looking statements &…
Disciplined base business growth Under construction Under evaluation Project Expected COD Project Forrest Kerr Mid-2014 Blythe expansion Volcano 2014 Natural gas-fired peakers in AB McLymont Mid-2015 Increase throughput at JEEP…
Significant growth between 2014 - 2018 Gas Power Utilities 2.5 billion in base business growth opportunities See forward-looking statements & information 24
Base growth capital fully funded: 2014 2018 Uses Sources 2.5 billion capital 3.0 billion cash flow 1.2 billion dividends 0.3 billion DRIP 1.2 billion current bank liquidity and cash 3.7 billion 4.5 billion Ample liquidity to…
AltaGas energy export advantage Extraction and A global leader in the Logistics network of fractionation capacity supply of energy, over 1,500 rail cars and access to petroleum, lubricants and 24 rail and truck WCSB supply and…
Strong growth from energy export opportunities First LNG export to Asia expected to utilize our natural gas pipeline Petrogas facilitates LPG growth Storage expansion Increase de-ethanizer and fractionator capacity Expand…
Propane supply driving LPG export opportunities Alberta and BC propane production1 Liquids value driving 130 Mbpd producer activity 120 Increased C3+ capture 110 by AltaGas facilities 100 90 NGL production 80 becoming…
Strong North American NGL and LPG capability Ft. Saskatchewan Petrogas Dow Chemical Canada Petrogas storage, truck and rail terminals strategically located in key North American energy hubs See forward-looking…
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…
Natural gas renaissance driving LNG exports The US is becoming energy self-sufficient1 New global markets offer higher prices2 Tcf US/Mmbtu 40 20 35 18 30 16 14 25 12 20 10 15 8 10 6 5 4 0 2 -5 0 2003 2010 2017F 2024F 2031F…
New markets for our customers Increased energy logistics to access new markets through Petrogas acquisition Deliver LPG to west coast for export LNG export opportunities CNG and LNG regional opportunities Gas-fired generation…
Strong advantages for LNG exports AltaGas Only existing pipeline to Kitimat and Prince Rupert Track record of delivering projects on time and on budget Strong community relations Floating LNG Smaller environmental footprint…
Positioned for success Investment in Petrogas LPG & LNG exports supported by long-term supply Round trip is 1 month less than the Gulf coast Up to US1 less in shipping costs per MMBTU than Gulf coast1 1Source:…
Why invest Creating shareholder value Strong track record of 2014 to 2018 creating shareholder value investment TSR: 934%1 opportunity: (1999 2013) 4.5 to 7.5B Expect to continue to deliver disciplined and profitable growth…
Appendix 37
Q3 2013 Highlights Significant EBITDA growth driven Normalized EBITDA of 103.5 million by new assets1 Million Normalized EPS of 0.21 160 EBITDA is lower in Q2 and Q3 due to 140 normal season factors in the Utilities 120…
Strong track record of growth EBITDA1 Funds From Operations1 Million Million 600 500 500 400 400 300 300 200 200 100 100 0 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TTM* TTM2 TTM1 2 2004…
Capital allocation program drives growth Disciplined in managing balance sheet and allocating capital Excess FFO1 available for capex Million and dividend growth 450 400 350 54% 300 48% Excess FFO 250 26% 47% Dividend Payout…
Second to one Current dividend payout as a percentage of 2014F AFFO1 100% 75% 50% 25% 0% 1 Source:TD Equity Research as of November 2013 41 See forward-looking statements & information
Investment grade credit ratios EBITDA to Debt to total Available credit X interest capital Million facilities 6.0 70% 1,600 60% 1,400 5.0 1,200 50% 4.0 1,000 40% 3.0 800 30% 600 2.0 20% 400 1.0 10% 200 0.0 0% 0 2010 2011…
Balanced debt and capital structure Manageable capital structure Well balanced debt maturity profile3 Million 600 10%2 500 400 300 53%1 37%1 200 100 0 Preferred shares Common shares Net debt AltaGas Ltd. SEMCO…
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