Corporate overview 9 billion 8 billion 1,000% 1,700 enterprise value1 total assets2 total shareholder return3 employees2 Ticker Symbol TSX:ALA Market Capitalization1 5.9 billion Dividend Yield1 4.0 percent Shares Outstanding2…
Clear vision and solid strategy Vision Strategy To be a leading North To capitalize on opportunities American diversified energy created by the renaissance of infrastructure company natural gas in North America and the increasing…
Strong drivers underpin our strategy Abundant natural gas in Increasing global demand for North America clean energy2 Global energy consumption by fuel Canadas Montney and Duvernay (Million tonnes oil equivalent)2 Renewables plays…
Long life, diversified, clean energy infrastructure EBITDA2 by segment 2 Bcf/d Gas of natural gas Processing and moving transacted natural gas to key Gas markets including Asia Power Utilities 1,530 MW Power of power…
Significant competitive advantages Competitive service offering across the energy value chain Unique access to international markets Meeting producer needs for new markets and higher netbacks Powering communities with clean energy…
Growing regulated and contracted earnings Gas Power Utilities Strong contractual underpinnings Northwest Projects increasing total Over 200 million in EBITDA growth contracted EBITDA to more than 75 since 2009 Majority of NGL…
7.5 billion in growth opportunities 2015-2019 Growth CAPEX 4B Contracted or regulated, fully financed advanced growth opportunities 2B Utilities 1.5B Power Gas Committed Under development Energy export expansions &…
Growing and improving our Utilities 1 billion capital spend program 2015 2019 Million 700 600 million increase in rate base over next five years 600 500 Capital spend Depreciation 400 300 200 100 0 2015F 2015E 2016F…
Growing our Power portfolio 75% of generation from clean energy sources1 1.5 billion capital spend program 2015 2019 1.449 MW in operation Additional 81 MW under construction power 2,360 MW in various stages of development Sonoran…
Completed the largest project in our history in 2014 195-MW Forrest Kerr facility brought 16-MW Volcano Creek facility brought online on time and on budget online two years ahead of schedule See forward-looking statements &…
66-MW McLymont Creek Milestone Status Powerhouse Complete intake access road Complete Excavate 2.8 km tunnel Complete Construct intake and weir Q2 2015 Construct transmission line Mid-2015 and switch gear Construct powerhouse…
Doubling the existing 507-MW Blythe facility Blythe II (Sonoran Energy Project) Blythe III Acquired Sonoran project in 2014 Gas-fired project; fully permitted and shovel Blythe II ready Potential to double the size of the…
Growing our Gas portfolio 5 billion capital spend program 2015 2019 Increase gas processing capacity Increase gas processing LPG export capacity expansion Fractionation LNG export expansion expansion Regional LNG LPG…
AltaGas LPG export offering Sourcing Logistics Markets RAW GAS Existing extraction, NGL Storage, rail & Ferndale processing & truck offloading2 Terminal1 fractionation Abundant natural gas New processing New storage, rail…
Growing our LPG business on the US west coast Ferndale Exporting LPG to Asia 750,000 Bbls of current storage capacity Ramping up to 30,000 Bbls/d of exports over next few years Facility re-configured to handle propane Replace…
Ferndale terminal Targeting an additional 30,000 Bbls/d of LPG exported off Canadas west coast See forward-looking statements & information 18
AltaGas LNG export offering Sourcing Logistics Markets Existing extraction, RAW processing & GAS fractionation Abundant natural gas New processing infrastructure ASIAN MARKETS PNG pipeline SALES Douglas Channel GAS…
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 British Columbia Map not to scale See forward-looking statements & information 21
Douglas Channel LNG exports as early as 2018 0.55 million tonnes per year capacity Long-term lease agreements executed with Haisla Nation for land and water tenure Lease agreement executed with PNG for long-term pipeline…
Consortium partners Will hold the required AltaGas will act as the Responsible for the pipeline capacity to deliver Douglas Channel LNG development and operation of gas to Douglas Channel project manager the floating liquefaction…
Planned LNG export barge phase I Source: EXMAR; Image of a floating LNG barge currently under construction See forward-looking statements & information 24
Opportunities for processing infrastructure Pursuing 1 Bcf/d of new Montney production expected to triple by 20221 processing capacity in liquids- rich areas Build-out of natural gas and NGL processing infrastructure in northeast…
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 150 Mmcf/d of firm capacity at start-up,…
Long-term cash flow growth Supported by 7.5 billion in FFO per share1 growth opportunities out to 2019; 3.5 billion are contracted or regulated and fully financed 3.72 2.61 2011 2014 Forecast 1Normalized See…
Dividend growth and cash flow reinvestment FFO per share Cash flow for Cash flow for reinvestment reinvestment Solid dividend growth Payout potential range: Payout: 40 - 50% Current dividend Current dividend 45% 2014…
Creating shareholder value Diversified business TSR: Significant competitive advantages 1,000%1 Stable earnings and cash flow Strong yield and growth potential 10.22 1994 1999 March Listed on TSX 2015 1Based on 100…
Appendix See forward-looking statements & information 30
Q4 2014 highlights Significant EBITDA growth Completed 195-MW Forrest Kerr, the Million driven by new assets1 200 largest project in AltaGas history 180 Completed 16-MW Volcano Creek project 160 two years ahead of schedule 140…
Capital allocation program drives growth Disciplined in managing balance sheet and allocating capital Excess FFO1 available for Million capex and dividend growth 26% 1Normalized See forward-looking statements & information…
Investment grade credit ratings Million Min = 2.5x Target = 55-60% Drawn Available See forward-looking statements & information 34
Balanced debt and capital structure Manageable capital structure* Average debt maturity of 9 years* Million 600 2014 300 0 AltaGas Ltd. SEMCO PNG *Asof December 31, 2014 See forward-looking statements & information…
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