Altagas Ltd. · TSX:ALA
Altagas — Shareholder Meeting (April 2022)
29 slides from Altagas's shareholder meeting presentation, Apr 29, 2022
Slide 1: 2022 Annual and Special Meeting of Shareholders
2022 Annual and Special Meeting of Shareholders April 29, 2022
Slide 2: Introductions and Welcome
Introductions and Welcome Pentti Karkkainen CHAIR OF THE BOARD 2
Slide 3: Today's Webcast Participants
Today’s Webcast Participants Pentti Karkkainen Randy Crawford James Harbilas Leah Dickie Chair of the Board President and Chief EVP and Chief Financial Officer General Counsel, Corporate Executive Officer and Corporate Secretary 3
Slide 4: Joining Online
Joining Online Victoria A. Calvert Phillip R. Knoll Linda G. Sullivan Nancy G. Tower Cynthia Johnston David W. Cornhill Jon-Al Duplantier Robert B. Hodgins Corine Bushfield Brad Grant Donald (Blue) Jenkins Randy Toone Shaheen Amirali 4
Slide 5: Land Acknowledgement
Land Acknowledgement
Slide 6: Notice and Quorum
Notice and Quorum 6
Slide 7: Advisories
Advisories FORWARD-LOOKING INFORMATION This document contains forward-looking information (forward-looking statements). Words such as "may", "can", "would", "could", "should", and similar expressions suggesting future events or future performance, as they relate to the Corporation or any affiliate o
Slide 8: Our Governance Philosophy and Commitment
Our Governance Philosophy and Commitment § Robust governance and strong leadership are core to achieving our strategy and delivering sustained value for our stakeholders. As the ultimate steward for AltaGas, the Board has a fiduciary responsibility to ensure it’s providing the proper foresight, over
Slide 9: Who We Are
Who We Are Our A Leading North American infrastructure company that connects Vision customers and markets to affordable and reliable sources of energy. Our To improve quality of life by safely and reliably connecting customers Mission to affordable sources of energy for today and tomorrow. Our Every
Slide 10: Formal Meeting Proceedings
Formal Meeting Proceedings 10
Slide 11: Items of Business
Items of Business 1 Presentation of Financial Statements 2 Appointment of the Auditors 3 Election of Directors 4 Approval of Unallocated Options 5 Advisory Vote on Executive Compensation 11
Slide 12: Presentation of Financial Statements
Presentation of Financial Statements 12
Slide 13: Appointment of the Auditors
Appointment of the Auditors Vote on the appointment of Ernst & Young LLP as auditors of AltaGas, to hold office until the next annual meeting of shareholder, with remuneration to be determined by the Board. 13
Slide 14: Election of Directors
Election of Directors Pentti Karkkainen Phillip R. Knoll Cynthia Johnston Linda G. Sullivan Nancy G. Tower Chair of the Board Chair of Governance Chair of EH&S Chair of Audit Chair of HRC Committee Committee Committee Committee Victoria A. Calvert David W. Cornhill Randy Crawford Jon-Al Duplantier R
Slide 15: Approval of Unallocated Options
Approval of Unallocated Options Vote to approve the resolution to approve the unallocated options to acquire common shares of AltaGas under AltaGas’ Option plan as set out on page 13 of AltaGas’ management information circular dated March 10, 2022. 15
Slide 16: Advisory Vote on Executive Compensation
Advisory Vote on Executive Compensation Vote on an advisory basis, and not to diminish the roles and responsibilities of the Board of Directors of AltaGas, to accept AltaGas’ approach to executive compensation as disclosed in AltaGas’ management information circular dated March 10, 2022. 16
Slide 17: Final Voting
Final Voting 17
Slide 18: Preliminary Voting Results
Preliminary Voting Results 18
Slide 19: CEO Update
CEO Update Randy Crawford PRESIDENT AND CHIEF EXECUTIVE OFFICER 19
Slide 20: One Strong Platform Focused on Connecting Customers and Markets
One Strong Platform Focused on Connecting Customers and Markets Investing for the Benefit of our Customers, Investors and the Environment Integrated Midstream Business – from wellhead to global markets Gas Gathering NGL Extraction Transportation, Global Wellhead & Processing Export Markets & Fractio
Slide 21: Strategy and ESG Work in Harmony
Strategy and ESG Work in Harmony Leading with Strong ESG Practices is Built into the Fullness of our Processes Integrated Midstream Business Vision Informed by Our Core Values We Are Committed to Operational Excellence § Operate a high-quality platform that connects customers and markets and drives
Slide 22: ESG Goals
ESG Goals 1. Baseline calculation is adjusted for material changes in our asset base.; 2. Dependent on regulatory support and customer demand. See "Forward-looking Information“ 22
Slide 23: Our Corporate Strategy
Earnings Model Per Share Growth Durability Check Points What we FFO Per Share Growth Durability Focus on Medium-term Long-term Leverage Ratios / <5.0x ~4.5x Our Corporate Strategy Margin of Safety Net Debt/EBITDA1 Net Debt/EBITDA1 Invest in and operate long-life infrastructure assets that provide Fo
Slide 24: Execution of the Strategic Plan is Creating Outsized Wins
Execution of the Strategic Plan is Creating Outsized Wins… Normalized Earnings Per Share1 Normalized FFO Per Share1 Leverage Ratios / Margin of Safety $1.90 $4.50 11.0x Normalized Net Debt/EBITDA $1.70 10.0x § Execution of Normalized FFO/Share $4.00 9.0x the strategy Model $1.50 Normalized EPS 8.0x
Slide 25: Our Value Proposition
Our Value Proposition A Continuous Focus on Compounding Returns A Diversified Infrastructure Company with a Robust Pipeline of Lower-risk Growth Opportunities Streamlined platform with Top-quartile utilities track record of delivering. rate base growth. Industry Leading EPS and FFO per share growth
Slide 26: 2021 Key Accomplishments
2021 Key Accomplishments Strong execution and focus positions AltaGas for durable long-term value creation Operational Financial Improved 2021 Priorities Priorities Financial Indicators UTILITIES MIDSTREAM Increased normalized EPS ~14% by 25 percent year-over-year Successfully completed D.C. Advance
Slide 27: Q1 2022 Financial Results Summary
Q1 2022 Financial Results Summary Q1/22 Financial Results Summary $574MM $1.65 $285MM $1.02 Normalized Normalized Normalized Normalized EBITDA1 FFO Per Share1 Net Income1 EPS1 1. Non-GAAP measure; see discussion in the Advisories 27
Slide 28: Questions & Answers
Questions & Answers 28
Slide 29: Thank You
Thank You