Canadian Utilities Limited Class A · TSX:CU
Canadian Utilities Limited Class A — Shareholder Meeting (May 2018)
24 slides from Canadian Utilities Limited Class A's shareholder meeting presentation, May 9, 2018
Slide 1: Annual General Meeting, Canadian Utilities Limited
CLI CANADIAN Cus dee LIMITED ANNUAL GENERAL MEETING CANADIAN UTILITIES LIMITED May 9, 2018
Slide 2: Legal Disclaimer
LEGAL DISCLAIMER Statements made by representatives for ATCO Ltd. and Canadian Utilities Limited and information provided in this presentation may be considered forward-looking statements. By their nature, such statements are subject to numerous known and unknown risks and uncertainties and therefor
Slide 3: Canadian Utilities Limited: Growth
CANADIAN UTILITIES LIMITED GROWTH + 2017 Results GROWTH * First Quarter 2018 Results * Continued Capital Investment FINANCIAL -aclmeballae FINANCIAL STRENGTH STRENGTH OPERATIONAL * Credit Rating Update EXCELLENCE + Pani oem ¢. Capital Markets Access INVOLVEMENT * Liquidity * Manageable Debt Maturity
Slide 4: Canadian Utilities Limited
CANADIAN UTILITIES LIMITED (NNOVATION ‘ : 2017 Results GROWTH * First Quarter 2018 Results * Continued Capital Investment STRATEGY aaa * Credit Rating Update - EXDELLENCE «Pani ” COMMUNITY Capital Markets Access INVOLYEMERT * Liquidity + Manageable Debt Maturity Schedule ANNUAL GENERAL MEETING 2018
Slide 5: Growth: New Adjusted Earnings Record in 2017
GROWTH: NEW ADJUSTED EARNINGS RECORD IN 2017 $590M 602M 2016 9017
Slide 6: Growth: $1.7B of Capital Investment in 2017
GROWTH: $1.7B OF CAPITAL INVESTMENT IN 2017 1% HB Regulated Utility Capital ©) Long-term Contracted Capital WS Other ANNUAL GENERAL MEETING 2018 [US
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ANNUAL GENERAL MEETING 2018 (US
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ee ees a ET . ~ Ines. oo ANNUAL GENERAL MEETING 2018
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Slide 12: Growing a High Quality Earnings Base
GROWING A HIGH QUALITY EARNINGS BASE REGULATED ADJUSTED EARNINGS AS A PERCENTAGE OF TOTAL ADJUSTED EARNINGS JE 2013 2017 ANNUAL GENERAL MEETING 2018 (LI
Slide 13: Continued Dividend Growth
CONTINUED DIVIDEND GROWTH CANADIAN UTILITIES: $1.57 per share Longest track record of annual dividend increases of any Canadian publicly traded company* | | amma 2 3 m 1% 7% 77 78 7 8 Bf 62 83 8 85 86 87 88 89 90 Of 92 93 94 95 96 97 98 99 OO Of 02 03 Of 05 0 O7 0 0 0 11 12 1 4 15 16 17 18 * On Apri
Slide 14: First Quarter 2018 Adjusted Earnings
FIRST QUARTER 2018 ADJUSTED EARNINGS $213M 01 2017 01 2018
Slide 15: First Quarter 2018 Adjusted Earnings: Operating Improvements Flow Into Customer Rates
FIRST QUARTER 2018 ADJUSTED EARNINGS: OPERATING IMPROVEMENTS FLOW INTO CUSTOMER RATES ELECTRIC DISTRIBUTION DEEMED REVENUE FOR OPERATING COSTS $200 $180 os me - cost improvements B S140 passed onto customers in 2018 $120 ==> $100 $80 2012 2013 2014 2015 2016 2017 2018 == Revenue om O&M Cost <= New R
Slide 16: Going Forward: Continued Capital Investment
GOING FORWARD: CONTINUED CAPITAL INVESTMENT $4.5B OF PLANNED CAPITAL INVESTMENT 2018 to 2020 @ Long-term Contracted Capital @ International Natural Gas Distribution @ Natural Gas Transmission @ Natural Gas Distribution @ Electricity Transmission @ Electricity Distribution ANNUAL GENERAL MEETING 2018
Slide 17: Long-term Contracted Capital Investment
LONG-TERM CONTRACTED CAPITAL INVESTMENT FORT MCMURRAY WEST 500 KV TRANSMISSION HYDROELECTRIC GENERATION HYDROCARBON STORAGE COGENERATION $1.0 BILLION (2018-2020) ANNUAL GENERAL MEETING 2018
Slide 18: Financial Strength
FINANCIAL STRENGTH * 2017 Results * First Quarter 2018 Results * Continued Capital Investment FINANCIAL STRENGTH FINANCIAL sain STRENGTH OPERATIONA * Credit Rating Update 7 Metittrtt ° Capi »F SaMMLNTTY Capital Markets Access INVOLVEMENT + Liquidity * Manageable Debt Maturity Schedule ANNUAL GENERAL
Slide 19: Financial Strength: Balance Sheet
FINANCIAL STRENGTH: BALANCE SHEET DBRS *., CREDIT RATING UNCHANGED “CREDIT RATING 5 CREDIT RATING 4 REVISED : eye (negative) .-* ANNUAL GENERAL MEETING 2018 US
Slide 20: Financial Strength: Capital Markets Access
FINANCIAL STRENGTH: CAPITAL MARKETS ACCESS IN 2017, CANADIAN UTILITIES ISSUED DEBT AT THE LOWEST LONG-TERM INTEREST RATE IN COMPANY HISTORY BOND AMOUNT ($M) INTEREST RATE Sf AIRS Ss 8 DS WG GG LS So . FGF F we SS FS SF GK KG GK LFF GF VX s & SHE FE GS CE FFF FFE SEF E EEE EEE LESESS m= BOND AMOUNT ©
Slide 21: Financial Strength: Capital Markets Access
FINANCIAL STRENGTH: CAPITAL MARKETS ACCESS IN 2017, ALBERTA POWERLINE COMPLETED THE LARGEST PUBLIC-PRIVATE PARTNERSHIP DEBT FINANCING IN CANADIAN HISTORY $1,385M al Other Public Private Partnership Financings Alberta ere ANNUAL GENERAL MEETING 2018 LUI
Slide 22: Financial Strength: Manageable Debt Maturity Profile
FINANCIAL STRENGTH: MANAGABLE DEBT MATURITY PROFILE MODEST SIZE DEBT MATURITIES IN FUTURE YEARS $500 |, BOND AMOUNT ($M) an =| I 2018 2019 2020 2021 2023 2024 2028 2034 2035 2036 2037 2038 2039 CU Inc. @ Canadian Utilities Limited ANNUAL GENERAL MEETING 2018 (LS
Slide 23: Financial Strength: Liquidity
FINANCIAL STRENGTH: LIQUIDITY EXCELLENT LIQUIDITY POSITION $2.8B OF READILY $490M OF AVAILABLE ACCESSIBLE CASH ON THE LINES OF CREDIT BALANCE SHEET * AMOUNTS AS AT THE FIRST QUARTER ENDED MARCH 31, 2018 ANNUAL GENERAL MEETING 2018 (LI
Slide 24: Summary
SUMMARY FINANCIAL STRENGTH ANNUAL GENERAL MEETING 2018 US