Capital Power Corporation · TSX:CPX
Capital Power — CIBC Institutional Investor Conference, Whistler 2011
16 slides from Capital Power's conference presentation, Jan 21, 2011
Slide 1: CIBC Institutional Investor Conference, Whistler
CIBC INSTITUTIONAL INVESTOR CONFERENCE, WHISTLER BRIAN VAASJO, PRESIDENT & CEO JANUARY 21, 2011 1
Slide 2: Forward-looking Information
Forward-looking Information Cautionary statement Certain information in today’s presentation and in responses to questions contain forward-looking information. Actual results could differ materially from conclusions, forecasts or projections in the forward-looking information, and certain material f
Slide 3: Capital Power Overview
Capital Power Overview Canadian-based, growth-oriented independent power producer (IPP) operating in North America Trading on the TSX (CPX) with market cap of ~$1.9B (fully diluted) Consistent strategy Business model: Commitment Generate stable to deliver and growing cash disciplined flows g
Slide 4: Corporate Strengths
Corporate Strengths by Solid platform si tts for sustainable ba a e aw s growth iv g et e cr 0 m Financial strength ac 00 with access to capital ly 0, nt 1 te to Proven operating and is e n s s iz construction history co le a r ip on to t Young and modern fleet 20 l: 20 oa G Large, high quality gene
Slide 5: Large, High Quality Generation Portfolio
Large, High Quality Generation Portfolio Interests in 32 facilities (nearly 3,800 MW)(1) Segmented owned capacity by MW(2) 30% 15% 35% 20% AB contracted AB commercial ON / BC contracted Capital Power Income L.P. (1) Capacity owned and /or operated; excludes Sundance PPA (371 MW) (2) Owned capacity o
Slide 6: Young And Modern Fleet
Young And Modern Fleet Young fleet with average facility age of only 13 years(1) 3 new projects (495 MW) with COD in 2011-12 Kingsbridge I is ~5 years old with expected life remaining of ~15 years Coal plants Current age Expected life remaining Genesee 2 2034 Genesee 1 2039 Genesee 3 2050 Keep
Slide 7: Strong Operating History, Fleet Availability
Strong Operating History, Fleet Availability Forecast Generation 12,000 95% 95% 91%(1) 94% 91% 94% Plant (GWh)(2) Availability 9,000 6,000 3,000 CPC Generation Pro-rata CPILP Generation - Availability(3) 2006 2007 2008 2009 2010 2011 Proven operating performance history with high plant availability
Slide 8: Long-Term Contracts & Merchant Position
Long-Term Contracts & Merchant Position Contracted / merchant split by plant capacity(1) Operating Margin Split(2) 3,000 2,500 943 49% 51% 2,000 695 943 Megawatts 1,500 Merchant & portfolio optimization 1,000 1,175 1,175 1,422 Contracted 500 CPILP 457 457 (Contracted) Target 50% contracted cash 457
Slide 9: Financial Strength with Access to Capital
Financial Strength with Access to Capital Strong balance sheet with BBB investment grade credit rating (S&P/DBRS) • Maintain investment grade credit rating Continuous access to capital essential to sustainable growth and to increase shareholder value • Provides financial flexibility to capitaliz
Slide 10: North American Platform & Growth Strategy
North American Platform & Growth Strategy Significant growth through acquisitions and development Maintain discipline on: • Geography • Size • Fuel type • Economics Target markets where merchant or contracted assets could potentially be added Capital Power facilities Areas where contracted Capit
Slide 11: Building Momentum: Keephills Project Update
Building Momentum Keephills 3 Project Update 495 MW coal-fired generating plant 50% partnership with TransAlta CPC responsible for construction TransAlta responsible for operations COD planned in Q2/11 Major milestone first fire, December 10, 2010 Steam blow, December, 2010 11
Slide 12: Building Momentum: 2010 Growth Announcements
Building Momentum 2010 Growth Announcements Acquisitions Contracted Development Island Generation Quality Wind Port Dover & Nanticoke Location Campbell River, BC Tumbler Ridge, BC Norfolk & Haldimand, ON Fuel Type Natural Gas Wind Wind Size 275 MW 142 MW 105 MW Costs ~$207M ~$455M ~$340M COD 2002 Be
Slide 13: Building Momentum: Growth Opportunities
Building Momentum Growth Opportunities Stage Project Size (MW) $M Fuel Status Most Kingsbridge II 260 $800 Wind Bid Submitted Advanced Pioneer TBD Carbon Capture Underway and Storage BC Biomass 50 - 70 $400 Biomass Bid Submitted Halkirk 150 TBD Wind Underway Developing BC Wind 500 $1,100 Wind Sites
Slide 14: Execution Of Growth Strategy
Execution Of Growth Strategy Confirmed capacity growth 4,500 4,000 Since Capital Power’s IPO launch in mid-2009, 3,500 970 MW of new capacity 3,000 has been added or (MW) 2,500 placed into development 2,000 Significant growth 1,500 expected in 2011 with $1.5B committed capital 1,000 target 500 0 200
Slide 15: Investment Highlights Summary
Investment Highlights Summary Large, high quality generation portfolio Young and Solid modern fleet platform with proven for operating growth history Diversified Financial portfolio in strength with attractive North access to American capital Long-term markets contracts & merchant position provides
Slide 16: Contact Information
Contact Information Investor Relations (780) 392-5305 (866) 896-4636 (toll-free) investor@capitalpower.com www.capitalpower.com 16
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