Market Information TSX Ticker Symbol IPL 52-week Price Range 18.80-29.95 Market Capitalization 9.6 billion Enterprise Value 13.7 billion Annualized Dividend 1.29/share Yield 4.3% Information as at close of markets on May…
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 Canada Europe Fort McMurray 88% 12% ALBERTA SASKATCHEWAN SCOTLAND DENMARK Edmonton North Sea Hardisty Cochrane IRELAND B.C. Extraction ENGLAND GERMANY Plant Calgary Empress…
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 1.29 1.18 1.06 0.97 0.91 0.84 0.84 0.85 0.80 0.75 0.73 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014E* *Based on actual dividends to April 2014 and 0.1075/share per month…
Strong Market Performance % 495% 500 450 400 350 300 250 200 150 91% 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 of…
Recent Developments Announced eleventh consecutive and single largest increase to monthly dividends effective September 2013 Converted to a corporate structure effective September 1, 2013 Executed shipping agreements for 3.2…
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) Hangingstone FCCL Narrows Polaris Lake CNR Kirby FCCL…
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 Foster…
Polaris Pipeline Primary diluent transportation Imperial Kearl system to Albertas oil sands Suncor regions Fort McMurray Husky Sunrise Stable cost of service contracts AOC Hangingstone currently generating 74 million of FCCL…
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…
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 110,200 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 22% 41% 10% 41% 41% 16% 60% 30% 43% 37% 37% Cost of Service Fee Based Commodity Based Cost of Service Fee Based Commodity Based 2013 Annual EBITDA…
Financial Strength Solid balance sheet and excellent access to capital markets 300 million equity issuance in March 2014 1,425 million medium term notes issued since 2011 25 million per month in equity DRIP proceeds Increased…
Sustainable Dividends Million 500 400 300 200 100 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Funds From Operations Dividends *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 Jeremy Roberge Vice President, Capital Markets investorrelationsinterpipeline.com Inter Pipeline Ltd. Suite 2600, 237 4th Avenue SW Calgary, Alberta T2P 4K3 Phone: 1 866…
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