Corporate overview Ticker Symbol: TSX: ALA Total Assets(1) 7.3 billion Market Capitalization(2) 5.4 billion Normalized Earnings(1) 175.8 million Diluted Shares Outstanding(1) 122,305,293 Inception 1994 TSR Since Listing(3) 1,019%…
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 energy export opportunities Expect…
Solid and diverse business platform GAS POWER UTILITIES 391 MW 440 MW 11 MW 15 MW 507 MW 24 MW Gas processing: Power generation: 1,388 MW 2 ; 5 Utilities: Serving over 550,000 customers; Over 2 Bcf/d transacted 60%…
Well diversified portfolio with stable earnings 2011 2013 2015F 85 percent stable earnings Pie charts represent total business EBITDA 5 See Forward-Looking Statements & Information
Sustainable value creation Total cumulative return of 100 investment since December 31, 20103 250 AltaGas Ltd. (CAGR = 30%) 233 135% TSR1 S&P/TSX Composite Index (CAGR = 4.9%) 200 150 19% CAGR in EPS2 117 100 5% 50…
Our dividend security is second to one Current dividend payout as a percentage of 2014F AFFO1 100% 75% 50% 25% 0% 1 Source:TD Equity Research as of February 2014 7 See forward-looking statements & information
We have significant capacity to grow our dividend Payout Potential mid-teen Range: 43% 40 - 50% percentage dividend growth 2013 FFO E FFO See forward-looking statements & information 8
Significant EBITDA growth Expect 10 percent CAGR in earnings and Incremental cash flow per share with current projects EBITDA from projects under evaluation and energy exports 2013 2015 2015+ 2015+ 2013 EBITDA Blythe Petrogas…
Investment priorities Bring Forrest Kerr and Volcano online by mid-2014 Advance McLymont Creek Commence construction of Cold Lake expansion Commence construction of Harmattan Cogen III Commence construction of Alton natural gas…
Completing Northwest Projects ahead of schedule and on budget Forrest Kerr Volcano McLymont 60-year fully indexed EPA 60-year fully indexed EPA 60-year fully indexed EPA with BC Hydro with BC Hydro with BC Hydro 195 MW total capacity 16…
Strong and predictable earnings profile Estimated annual Forrest Kerr - Predictable, sustainable hydrology EBITDA forecast1 Discharge (M3/s) 900 Water flow used for generation 800 700 600 500 400 300 200 Design…
Commencing construction in 2014 75 million investment in two key projects: Cold Lake expansion Cogen III Expansion announced in August 2013 15 MW expansion at Harmattan facility for Providing gas supply to SAGD heavy a total of 45…
Investing 100 million in Nova Scotia through Alton natural gas storage project Acquired 100 percent ownership Meets growing demand for natural gas in the area Brings price stability and supply security to the region Underpinned by…
Strong rate base growth Investing 185 million in 2014 500 million or 35 percent increase in rate base over next System betterment and upgrading Million five years delivery systems to ensure reliable 600 and efficient operation 500…
250 million investment opportunity in regional LNG 25 - 40% savings to diesel for customers1 Targeting 500,000 gallons a day over next five years Value proposition Site locations in Northern B.C. secured 22 million LNG project…
Strategically positioned to increase gas processing capacity in liquids-rich areas 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;…
Blythe Energy Center expansion opportunity 507 MW natural gas-fired combined cycle power plant with seven year PPA Potential to double capacity Qualified to participate in RFPs from California electricity distributors; expected…
Base growth capital fully funded: 2014 2018 Uses Sources 2.5 billion capital 3.0 billion cash flow 1.2 billion dividends1 0.3 billion DRIP 1.2 billion current bank liquidity and cash 3.7 billion 4.5 billion Ample liquidity to…
Incremental growth from energy export opportunities Petrogas facilitates LPG exports and growth Storage expansion Increase de-ethanizer and fractionator capacity Expand logistics capability First LNG export to Asia expected to…
AltaGas energy export advantage Extraction and A global leader in the Logistics network of over fractionation capacity supply of energy, 1,500 rail cars and access to petroleum, lubricants and 24 rail and truck WCSB supply and…
Propane supply driving LPG export opportunities Alberta propane production1 Mbpd Liquids value driving Actual Forecast 140 producer activity 120 Increased C3+ capture by AltaGas facilities 100 NGL production 80 becoming…
Strong North American NGL and LPG capability Petrogas and ATCOs 1 potential storage development is key to sourcing, storing, and marketing LPG from Fort Saskatchewan Petrogas storage, truck and rail terminals strategically…
Petrogas Ferndale Terminal acquisition completes the LPG export equation Ferndale Terminal1 Acquired by Petrogas in March 2014 Located in Washington, US Capacity to handle up to 30,000 bls/d Natural gas processing Storage and…
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 US/Mmbtu Tcf 20.00 40 18.00 35 16.00 30 14.00 25 12.00 20 10.00 15 8.00 10 6.00 5 4.00 0 2.00 -5…
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 Excess capacity on PNG today Floating LNG Smaller…
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:…
On our way to 10 billion 2.5 billion Gas Power Utilities in base business growth 2 5 billion Gas Power Utilities energy exports See forward-looking statements & information 29
Why invest Creating shareholder value Strong track record of creating 2014 to 2018 shareholder value investment TSR: 1019%1 opportunity: Expect 10 percent CAGR in (1999 2014) 4.5 to 7.5B earnings and cash flow per share with…
Appendix 31
Q4 2013 Highlights Significant EBITDA growth driven Normalized EPS of 0.49 by new assets1 Million Normalized FFO of 117.1 million Normalized EBITDA of 153.3 million 160 140 EBITDA is lower in Q2 and Q3 due to seasonality at the…
Strong track record of growth EBITDA1 Funds From Operations1 Million Million 600 450 400 500 350 400 300 250 300 200 200 150 100 100 50 0 0 2008 2009 2010 2003 2004 2005 2006 2007 2011 2012 2013 2008…
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% 250 26% 47% Excess FFO 200 Dividend…
Investment grade credit ratings x EBITDA to interest Debt to total Million Available Credit 6.0 capital 2,500 Facilities 70% 5.0 60% 2,000 4.0 50% Available 1,500 Drawn 40% 3.0 30% 1,000 2.0 20% 500 1.0 10% 0.0 0% 0…
Balanced debt and capital structure Manageable capital structure1 Well balanced debt maturity profile2 Million 600 10% 500 400 300 53% 37% 200 100 0 AltaGas Ltd. SEMCO PNG Preferred Shares Common Shares Debt 1 Asof…
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