Fortis Inc. · TSX:FTS
Fortis — Shareholder Meeting (May 2020)
42 slides from Fortis's shareholder meeting presentation, May 7, 2020
Slide 1: Welcome to the 2020 Annual and Special Meeting of Shareholders
WELCOME TO THE 2020 ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS WE WILL BEGIN OUR Re Ci FORTIS. A ie
Slide 2: Annual and Special Meeting of Shareholders, May 7, 2020
aan AND SPECIAL MEETING OF ©" SHAREHOLDERS MAY 7, 2020 a4
Slide 3: Voting Instructions
VOTING INSTRUCTIONS ‘You have voted on 3 of 3 items Resolution 1 For - Vote received Resolution 2 Withheld - Vote received ne Resolution 3 Against - Vote received CANCEL CANCEL CANCEL Voting Icon FORTIS..
Slide 4: Question Instructions
QUESTION INSTRUCTIONS Question Icon | er Type your question FORTIS..
Slide 5: Doug Haughey, Chair of the Board
Slide 6: IDA
IDA 4 FORTIS...
Slide 7: Meeting Participants
MEETING PARTICIPANTS BARRY PERRY JOCELYN PERRY JIM REID President and Executive Vice President, Executive Vice President, Chief Executive Officer Chief Financial Officer Chief Legal Officer and Corporate Secretary FORTIS...
Slide 8: Meeting Agenda
MEETING AGENDA Appointment of Secretary and Scrutineers Financial Statements Election of Directors Appointment of Auditors Approve the Adoption of Advance Notice By-Law Advisory Vote on Approach to Executive Compensation Voting Results Management Presentation Question Period FORTIS...
Slide 9: Appointment of Secretary and Scrutineers
AGENDA Appointment of Secretary and Scrutineers Financial Statements Election of Directors Appointment of Auditors Adoption of Advance Notice By-Law Approach to Executive Compensation Voting Results Management Presentation Question Period APPOINTMENT OF SECRETARY AND SCRUTINEERS FORTIS...
Slide 10: Receive Financial Statements for the Year Ended December 31, 2019
AGENDA Appointment of Secretary and Scrutineers Financial Statements Election of Directors Appointment of Auditors Adoption of Advance Notice By-Law Approach to Executive Compensation Voting Results Management Presentation Question Period RECEIVE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31,
Slide 11: Voting Procedure
VOTING PROCEDURE FORTIS...
Slide 12: Joseph Welch
Slide 13: Election of Directors
AGENDA Appointment of Secretary and Scrutineers Financial Statements Election of Directors Appointment of Auditors Adoption of Advance No By-Law Approach to Executive Compensation Voting Results Management Presentation Question Period Tracey C. Ball Margarita K. Dilley ELECTION OF DIRECTORS 2 Pierre
Slide 14: Appointment of Auditors
AGENDA Appointment of Secretary and Scrutineers Financial Statements Election of Directors Appointment of Auditors Adoption of Advance Notice By-Law Approach to Executive Compensation Voting Results Management Presentation Question Period APPOINTMENT OF AUDITORS FORTIS...
Slide 15: Approve the Adoption of Advance Notice By-Law
AGENDA Appointment of Secretary and Scrutineers Financial Statements Election of Directors Appointment of Auditors Approach to Executive Compensation Voting Results Management Presentation Question Period APPROVE THE ADOPTION 0 ADVANCE NOTICE BY-LAW F FORTIS...
Slide 16: Advisory Vote on Approach to Executive Compensation
AGENDA Appointment of Secretary AND Scrutineers Financial Statements Election of Directors Appointment of Auditors Adoption of Advance Notice By-Law Approach to Executive Compensation Voting Results Management Presentation Question Period ADVISORY VOTE ON APPROACH TO EXECUTIVE COMPENSATION FORTIS...
Slide 17: Voting Results
AGENDA Appointment of Secretary and Scrutineers Financial Statements Election of Directors Appointment of Auditors Adoption of Advance Notice By-Law Approach to Executive Compensation Voting Results Management Presentation Question Period VOTING RESULTS FORTIS...
Slide 18: Fortis
FORTIS FORTIS
Slide 19: Question Instructions
QUESTION INSTRUCTIONS Question Icon | er Type your question FORTIS..
Slide 20: Forward Looking Information
FORWARD LOOKING INFORMATION Fortis includes forward-looking information in this presentation within the meaning of applicable Canadian securities laws and forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (collectively referred to as "forward-looki
Slide 21: Barry Perry, President and CEO
AGENDA Appointment of Secretary and Scrutineers Financial Statements BARRY PERRY Election of Directors PRESIDENT AND CEO Appointment of | Auditors Adoption of Advance Notice By-Law Approach to Executive Compensation - | Voting Results Question Period FORTIS.
Slide 22: Management Presentation
Management Presentation FORTIS...
Slide 23: Management Presentation
AGENDA Appointment of Secretary and Scrutineers Financial Statements Election of Directors Appointment of Auditors Adoption of Advance Notice By-Law Approach to Executive Compensation Voting Results Management Presentation Question Period
Slide 24: Local Teams Focused on the Needs of Their Communities
LOCAL TEAMS FOCUSED ONT NEEDS OF THEIR) COMMUNITIES | « FORTIS...
Slide 25: We All Move Forward When We Give Back
—a ] =>. — WE ALL MOVE FORWARD Se, — WHEN WE GIVE BACK. Presentation ®& Ferriss
Slide 26: "All In" to Keep the Lights On and the Gas Flowing
“ALL IN” TO KEEP THE LIGHTS ON AND THE GAS FLOWING | ie | Management Presentation FORTIS...
Slide 27: On Solid Footing as We Entered 2020
| — ON SOLID FOOTING ~ a AS WE ENTERED 2020 Ne | FORTIS...
Slide 28: and
AGENDA Appointment of Secretary and Scrutineers Financial Statements Election of Directors Appointment of Auditors Adoption of Advance Notice By-Law Approach to Executive Compensation Voting Results Management Presentation Question Period FORTIS...
Slide 29: 2019 Results
AGENDA Appointment of 2019 RESULTS Secretary and Scrutineers Reported EPS Adjusted EPS © Financial Statements Election of Directors $3.79 Appointment of Auditors Adoption of Advance SBD Notice By-Law Approach to Executive Compensation Voting Results Se “ . 7 “ Question Period (1) Non-US GAAP Measure
Slide 30: Q1 2020 Results
AGENDA Appointment of Secretary and Scrutineers Financial Statements Election of Directors Appointment of Auditors Adoption of Advance Notice By-Law Approach to Executive Compensation Voting Results Management Presentation Question Period PY $1.2 billion equity issuance completed in late 2019 contri
Slide 31: Strong Balance Sheet
AGENDA Appointment of Secretary and Scrutineers Financial Statements Election of Directors Appointment of Auditors a Adoption of Advance Notice By-Law Approach to Executive Compensation i I — STRONG BALANCE SHEET
Slide 32: Our Growth Is Resilient
AGENDA Appointment of 5 ' Secretary and . , 4 : the Scrutineers ’ at. Financial Statements a Election of Directors OU R G ROW Appointment of Auditors is RESILIENT Adoption of Advance Notice By-Law Approach to Executive Compensation Voting Results Question Period FORTIS...
Slide 33: Safety and Industry Leadership
AGENDA Appointment of Secretary and INDUSTRY Scrutineers ; AFETY, , . Financial Statements IN S$ Election of Directors Appointment of Auditors Adoption of Advance Notice By-Law Approach to Executive Compensation Voting Results dlls, ww
Slide 34: Years of Consecutive Dividend Increases
46 YEARS OF CONSECUTIVE DIVIDEND INCREASES 6% AVERAGE ANNUAL DIVIDEND $2.00 GROWTH GUIDANCE EXTENDED T0 2024 | $1.50 $1.00 il : senvaceet OUUTTEUULTOLUUUUIILI 73 75 77 79 81 83 85 87 89 91 93 95 97 99 O01 03 OS OF O9 11 13 15 17 19 YEAR @ bividend Payments FORTIS...
Slide 35: Superior 20-Year Total Shareholder Return
SUPERIOR 20-YEAR TOTAL SHAREHOLDER RETURN —FTS 1,800 4 ——S&P/TSX Composite Index 1,600 4 was ——S&P/TSX Capped Utilities Index 1,400 4 B20 FTS Total Shareholder 1,000 Returns (Average Annual) vn 600 400 2 0 T (200) 4 2000 2005 2010 2015 2020 FORTIS... Note: Cumulative 20-year total shareholder at Mar
Slide 36: Fortis Delivers Strength and Stability for Shareholders
AGENDA Appointment of Secretary and Scrutineers Financial Statements Election of Directors Appointment of Auditors Adoption of Advance Notice By-Law FORTIS DELIVERS STRENGTH AND STABILITY FOR SHAREHOLDERS Approach to Executive Compensation Voting Results Question Period
Slide 37: Question Period
AGENDA Appointment of Secretary and Scrutineers Financial Statements Election o Appointment of Auditors Adoption of Advance Notice By-Law Approach to Executive Compensation Voting Results Management Presentation Question Period QUESTION PERIOD FORTIS...
Slide 38: Fortis
FORTIS FORTIS
Slide 39: Appendix
APPENDIX FORTIS...
Slide 40: Quarterly Adjusted Earnings Reconciliation
QUARTERLY ADJUSTED EARNINGS RECONCILIATION (S millions, except as indicated) Q1 2020 Qi 2019 Qi 2018 Common Equity Earnings ‘) 312 aula 323 Adjusting Items: Unrealized loss on mark-to-market of derivatives (7) 3 5 4 Consolidated state income tax election °) - - (30) Adjusted Common Equity Earnings 3
Slide 41: Annual Adjusted Earnings Reconciliation
ANNUAL ADJUSTED EARNINGS RECONCILIATION Non-US GAAP Reconciliation (S millions, as indicated) 2019 Common Equity Earnings 1,655 Adjusting Items: Gain on disposition 2) (484) November 2019 FERC Order °) (83) US tax reform (4) 12 Unrealized loss on mark-to-market of derivatives ©) 15 Consolidated stat
Slide 42: Annual Adjusted Earnings Reconciliation Footnotes
ANNUAL ADJUSTED EARNINGS RECONCILIATION Footnotes to Annual Adjusted Earnings Reconciliation (1) Represents Net Earnings Attributable to Common Equity Shareholders (2) Gain on disposition of the Waneta Expansion in April 2019, included in the Corporate and Other segment (3) Represents the net revers