Tc Energy Corporation · TSX:TRP
Tc Energy — Shareholder Meeting (May 2023)
28 slides from Tc Energy's shareholder meeting presentation, May 2, 2023
Slide 1: Annual Meeting of Shareholders
Annual Meeting of Shareholders Meeting will start at 2 p.m. MDT M AY 2, 2023
Slide 2: Welcome to the 2023 Annual Meeting of Shareholders
MAY 2, 2023 TO THE 2023 ANNUAL MEETING OF SHAREHOLDERS
Slide 3: Land acknowledgement
2 0 2 3 ANNUAL MEETI NG O F S H AR EH O LDER S Land acknowledgement M AY 2, 2023 3
Slide 4: Welcome
MAY 2, 2023 TO THE 2023 ANNUAL MEETING OF SHAREHOLDERS
Slide 5: Forward looking information and non-GAAP measures
MAY 2, 2023 Forward looking information and non-GAAP measures This presentation includes certain forward looking information, including but not limited to, statements effectively anticipate and assess changes to government policies and regulations, including those related to related to our financial
Slide 6: Agenda
2 0 2 3 ANNUAL MEETI NG O F S HAR EHO LDER S Financial statements and auditors’ report Election of directors Appointment of auditors Agenda Executive compensation Announcement of voting results Business presentation: François Poirier, President and CEO MAY 2, 2023 6
Slide 7: Questions and voting information
2 0 2 3 ANNUAL MEETI NG O F S H AR EH O LDER S Questions and voting information questions voting Technical Support: 1-403-920-2050 MAY 2, 2023
Slide 8: Conduct of meeting
2 0 2 3 ANNUAL MEETI NG O F S H AR EH O LDER S Conduct of meeting • Appointment of scrutineers (Computershare Trust Company of Canada) • Notice of meeting and votes by ballot • Constitution of meeting MAY 2, 2023
Slide 9: Financial statements and auditor's report
2 0 2 3 ANNUAL MEETI NG O F S H AR EH O LDER S Financial statement and auditor’s report MAY 2, 2023
Slide 10: Director nominees
2 0 2 3 ANNUAL M EETING O F S HAR EHO LDERS Director nominees MAY 2, 2023 10
Slide 11: Welcome
2 0 2 3 ANNUAL MEETI NG O F S H AR EH O LDER S Welcome Corporate Director MAY 2, 2023
Slide 12: Director nominees
2 0 2 3 ANNUAL M EETING O F S HAR EHO LDERS Director nominees MAY 2, 2023 12
Slide 13: Appointment of auditors
2 0 2 3 ANNUAL MEETI NG O F S H AR EH O LDER S Appointment of auditors KPMG LLP, Chartered Professional Accountants MAY 2, 2023
Slide 14: Say-on-Pay
2 0 2 3 ANNUAL MEETI NG O F S H AR EH O LDER S Say-on-Pay Advisory vote approach to executive compensation MAY 2, 2023
Slide 15: Complete balloting now
2 0 2 3 ANNUAL MEETI NG O F S H AR EH O LDER S Complete balloting now Item of business Board recommendation Election of directors For Appointment of the auditors For Advisory vote on executive compensation For MAY 2, 2023
Slide 16: Chair's closing remarks
2 0 2 3 ANNUAL MEETI NG O F S H AR EH O LDER S Chair’s closing remarks MAY 2, 2023
Slide 17: North American opportunity
2 0 2 3 ANNUAL M EETING O F S HAR EHO LDERS North American opportunity MAY 2, 2023 17
Slide 18: Resilient strategy delivers results
2 0 2 3 ANNUAL M EETING O F S HAR EHO LDERS Resilient strategy delivers results Our long-term strategy is driven by several key beliefs Natural gas will play a Crude oil will remain Renewables & reliable on- Existing, irreplicable assets pivotal role in North an important part of demand energy sourc
Slide 19: Record-breaking performance
2 0 2 3 ANNUAL M EETING O F S HAR EHO LDERS Record-breaking performance NGTL System 16.4 Bcf deliveries on December 19 USNG systems 36.6 Bcf on December 23 100% power availability in Alberta in February and March MAY 2, 2023 19
Slide 20: Delivering long-term shareholder value
2 0 2 3 ANNUAL M EETING O F S HAR EHO LDERS Delivering long-term shareholder value years consecutive dividend increases billion comparable EBITDA1 comparable earnings per common share1 billion of assets into service (1) Comparable EBITDA and comparable earnings per common share are non-GAAP measures
Slide 21: Executing capital rotation
2 0 2 3 A N NU AL M E ET I NG O F S H AR EH O LD ER S Executing capital rotation Advancing $5 billion+ asset divestiture program Accelerate deleveraging Valuation Successfully executed over Pro forma impact on per share $11 billion divestiture program Execute on our vast between 2017 and 2020 opport
Slide 22: Milepost 14 Update
2 0 2 3 ANNUAL MEETI NG O F S H AR EH O LDER S Milepost 14 Update Focused on safe operations and remediation 98% of released oil recovered Received third-party root cause analysis Enhancing pipeline integrity program and safety performance MAY 2, 2023
Slide 23: Coastal GasLink
2 0 2 3 ANNUAL MEETI NG O F S H AR EH O LDER S Coastal GasLink Project is approximately 87% complete Wilde Lake compressor station complete and introduced natural gas Completed excavation of Cable Crane Hill ahead of schedule and are now installing the final pipe 85% of classified water crossings in
Slide 24: Southeast Gateway Pipeline
2 0 2 3 ANNUAL MEETI NG O F S H AR EH O LDER S Southeast Gateway Pipeline Obtained key federal environmental authorizations and local permits Closed major land acquisition agreements Approximately 70% of total project costs under fixed price contracts Onshore construction expected to commence this s
Slide 25: Strong governance measures in place
2 0 2 3 A N NU AL M E ET I NG O F S H AR EH O LD ER S Strong governance measures in place Compensation Included debt to Increased transparency Issued our first Increased focus on explicitly tied to EBITDA & cash flow through limited sustainability-linked biodiversity by joining GHG per share metrics
Slide 26: TC Energy has a unique value proposition that delivers shareholder returns
2 0 2 3 ANNUAL MEETI NG O F S H AR EH O LDER S TC Energy has a unique value proposition that delivers shareholder returns Demonstrating Exercising capital Focusing on resilience discipline execution MAY 2, 2023 26
Slide 27: Registered shareholder questions
Registered shareholder questions M AY 2, 2023
Slide 28: Thank you
2 0 2 3 ANNUAL MEETI NG O F S H AR EH O LDER S Thank you MAY 2, 2023 28