Canadian Utilities Limited Class A · TSX:CU
Canadian Utilities Limited Class A — Merger or Acquisition (October 2022)
15 slides from Canadian Utilities Limited Class A's merger presentation, Oct 5, 2022
Slide 1: Disclaimer
DISCLAIMER Due to uncertainty surrounding the application of recent amendments to the Competition Act (Canada), the documents incorporated by reference herein are referenced for historical information purposes only and do not constitute active or current representations of Canadian Utilities Limited
Slide 2: Strategic Acquisition of Renewable Generation Assets
Canadian Utilities Limited Strategic Acquisition of Renewable Generation Assets October 5, 2022
Slide 3: Legal Notice
Strategic Acquisition of Renewable Generation Assets Legal Notice Forward-Looking Information Statements made by representatives of ATCO Ltd. and Canadian Utilities Limited and information provided in this presentation may be considered forward-looking information. Forward-looking information is oft
Slide 4: Organizational Structure
Strategic Acquisition of Renewable Generation Assets Organizational Structure UTILITIES ENERGY INFRASTRUCTURE CORPORATE Electricity Distribution Retail Energy Electricity Transmission Int’l Electricity Operations Clean Renewable Energy Fuels Generation Storage Natural Gas Distribution Natural Gas Tr
Slide 5: Transaction Overview
Strategic Acquisition of Renewable Generation Assets Transaction Overview Acquisition Highlights Acquired Asset Highlights A wind and solar generation 4 Operating wind assets, totaling portfolio with assets in premier 252 MW complement existing renewable energy geographies in renewables portfolio Al
Slide 6: Strategic Rationale
Strategic Acquisition of Renewable Generation Assets Strategic Rationale 1 2 3 4 Provides Penetration Well-Aligned Accretive to Immediate into Wind with Corporate Cash Flow and Scale and Market, ESG Strategy Earnings Future Growth Underpinned and Targets in 2023 Through by Long-Term Development Cont
Slide 7: Drives Meaningful Progress Towards Our ESG Targets
Strategic Acquisition of Renewable Generation Assets Drives Meaningful Progress Towards Our ESG Targets Four Key Strategic 2030 ESG Targets Acquisition Supports Targets Reducing net operational GHG emissions to earnings intensity by 30 per cent (Scope 1 and 2) Reducing our customers’ GHG emissions b
Slide 8: Maximizing Asset Value Through High Quality PPA's
Strategic Acquisition of Renewable Generation Assets Maximizing Asset Value Through High Quality PPA’s Expected Operating Asset Contractedness1,2 Offtake Strategy Contracted Uncontracted PPA’s can be structured Adelaide wind asset in 28% to service energy and Ontario underpinned by environmental att
Slide 9: Acquired Operating Assets Overview
Strategic Acquisition of Renewable Generation Assets Acquired Operating Assets Overview Acquired Operating Assets – Further Information Size Asset (Net MW) COD Ownership Contractedness Partner(s) Forty Mile 202 Late 2022 100% Under Negotiation None Wind Phase 11,2 Aamjiwnaang First Adelaide Wind 30
Slide 10: Asset Spotlight: Forty Mile Wind
Strategic Acquisition of Renewable Generation Assets Asset Spotlight: Forty Mile Wind Phase 1 • Forty Mile Consists of 3 Stages: Wind Phase 1, Solar, and Wind Phase 2 • Commercial operation date (COD) for Forty Mile Wind Phase 1 is expected in Q4 2022, prior to transaction close o Utility-scale wind
Slide 11: Acquired Development Assets Overview
Strategic Acquisition of Renewable Generation Assets Acquired Development Assets Overview Acquired Development Pipeline – Further Information Size Development Asset (Net MW) Ownership Comments Near-Term Development Projects Forty Mile Wind Phase 1 24 100% Completion expected in 2023 Uprating AUC fac
Slide 12: Appendix
Appendix 11
Slide 13: Growth within Attractive Alberta Renewables Market
Strategic Acquisition of Renewable Generation Assets Growth within Attractive Alberta Renewables Market Alberta Renewable Market Overview Alberta Wind Resource Potential1 Open and deregulated energy-only market o Opportunity for Power Purchase Agreements (“PPA’s”) with credit-worthy counterparties o
Slide 14: Renewable Portfolio Progression
Strategic Acquisition of Renewable Generation Assets Renewable Portfolio Progression Fossil Fuel Strategic Acquisition of Renewable Continued development of Generation Sale acquired pipeline of solar Generation Assets and wind assets Shift in Corporate Strategy to (operating + development pipeline)
Slide 15: Investor Relations Contact
Canadianutilities.com Tel: 403.292.7500 Investor Relations InvestorRelations@atco.com 5302 Forand Street SW Calgary, Alberta T3E 8B4 Canada 14
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