Enable Midstream Partners, LP CenterPoint Energy June 2014 Investor and Analyst Day June 30, 2014
Non-GAAP Financial Measures Enable has included the non-GAAP financial measure Adjusted EBITDA in this presentation based on information in its financial statements. Adjusted EBITDA is a supplemental financial measure that management and…
Enable Ownership Structure Enables public unitholders benefit from an ownership structure which aligns the interests of management and sponsors with those of the public unitholders OGE and CNP have a substantial LP interest in Enable, a…
Key Investment Highlights A compelling investment opportunity that doesnt require future drop-downs for growth Fully integrated suite of assets: 11,000 miles of gathering systems, 12 major processing plants, Significant Size, Scale and…
Interconnected, Diverse and Strategically Located Enable provides operating reach and scale with complementary capabilities managing gas gathering and processing services, intrastate and interstate transmission and storage for…
Large and Diverse Customer Base Enables revenues are strengthened by a diverse, high-quality customer base, many of whom are investment grade Many of our customers rely on us for multiple midstream services across both G&P and T&S Loyal…
Stable, Long-Life Cash Flow Profile Enables cash flow strength reflects its predominantly fee-based contract profile and regulated assets Low commodity exposure exposure primarily related to the realization of our expected natural gas,…
G&P: Strategic Assets in Prolific Plays Enables Gathering and Processing assets are strategically located in six states and serve some of the most prolific shale plays in the country G&P Asset Overview Granite Wash (Cleveland,…
G&P: Super-header Enhances Competitive Advantage Enables Super-Header connects seven of our processing facilities and is configured to optimize the flow of natural gas and the utilization of the processing plants connected to it System…
T&S: Sizeable Asset Footprint Transportation and Storage consists of our interstate pipelines, intrastate pipelines and storage assets, which connect producing areas to areas of high demand 5,984-mile interstate pipeline Enable Gas…
T&S: High-Degree of Interconnectivity In aggregate, pipelines provide shippers the ability to access dozens of different markets (delivery interconnects), hundreds of end users and hundreds of city gates Overview Interstate…
Growth Plan: Extend, Expand and Diversify Diverse Set of Assets in Ten States Gathering and Processing Volume growth associated with our long-term gathering and processing agreements Build additional G&P infrastructure to support…
Growth Plan in Action: SCOOP Increased producer activity in dedicated acreage is expected to drive volume growth and create organic growth opportunities across the midstream value chain How Enable Capitalizes on the SCOOP Substantial…
Growth Philosophy Enable targeting low double-digit distribution growth on a per-unit basis Organic growth is expected to be our highest returning option M&A may provide ability to expand footprint into new areas, accelerate…
Financial Platform for Growth Strong Balance Sheet Enable has lower leverage than other MLPs of similar and larger size Significant available liquidity under 1.4 billion revolver Low Cost of Capital Current LP unit yield of…
Key Investment Highlights A compelling investment opportunity that doesnt require future drop-downs for growth Fully integrated suite of assets: 11,000 miles of gathering systems, 12 major processing plants, Significant Size, Scale and…
Appendix 18
Reconciliation of Net Income to Adjusted EBITDA Enable Midstream ( in millions) Partners, LP Pro Forma Year Ended December 31, 2013 Net income attributable to controlling interest 451 Add: Depreciation and amortization expense…
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