Capital Power Corporation · TSX:CPX
Capital Power — Q3 2023 Earnings Presentation
18 slides from Capital Power's earnings presentation, Nov 1, 2023
Slide 1: 2023 Analyst Presentation
Capital¢S apital © 2023 Analyst Presentation
Slide 2: Presentation Team
Presentation Team Avik Dey Sandra Haskins President & Chief SVP, Finance & Chief Executive Officer Financial Officer 11/1/2023 2
Slide 3: Forward-looking information and Non-GAAP financial measures and ratios
Forward-looking Non-GAAP financial information measures and ratios Cautionary statement Certain information in this presentation and responses to questions contain forward-looking The Company uses (i) earnings before net finance expense, income tax expense, information. Actual results could differ m
Slide 4: Territorial Acknowledgement
Territorial Acknowledgement In the spirit of reconciliation, Capital Power respectfully acknowledges that we operate within the ancestral homelands, traditional and treaty territories of the Indigenous Peoples of Turtle Island, or North America. Capital Power’s head office is located within the trad
Slide 5: Agenda
Agenda • Delivering on our net zero strategy • Executive Team updates • Investing in strategic growth • Financial results • Guidance updates • Investor day • Q&A 5
Slide 6: Delivering on our net zero strategy
• Genesee Repowering project to add 512 MW of net capacity for Alberta • Agreement to acquire Frederickson 1 Grid-critical Generating Station delivers 265 MW of reliable baseload generation to Puget baseload generation Sound region • Continued progress on: • Halkirk 2 Wind | 140 MW • Maple Leaf Sola
Slide 7: Executive Leadership Team
Executive Corporate Services Commercial Asset Management Leadership Team May Wong Pauline McLean Bryan DeNeve Steve Wollin SVP, Strategy, Planning SVP, External Relations SVP, Chief SVP, Operations and Sustainability and Chief Legal Officer Commercial Officer Avik Dey President and Chief Executive O
Slide 8: Executing on our growth pipeline drives value
Executing on our growth pipeline drives value Over 1.2 GW of capacity secured in 2023 Annual Capacity Growth Additions since 2022 Annual Capacity Growth Additions since 2022 by Fuel Type by Market 1,000 1,000 800 800 600 600 MW MW 400 400 200 200 0 0 2022 2023 2024E 2025E 2026E 2022 2023 2024E 2025E
Slide 9: Strategic diversification in Pacific Northwest
• Fully contracted with credit-worthy counterparties to October 2030 • High-quality, reliable baseload generation asset in the Puget Sound Region diversifies our geographic footprint • Well-positioned for re-contracting with legacy coal retirements on the horizon • Prime location allows for future d
Slide 10: Strategically diversifying our North American footprint
Strategically diversifying our North American footprint Frederickson 1 an ideal energy market fit Strong Fundamentals Frederickson 1 • Positive economic outlook with growing population and energy Generating Station demand resulting in opportunities for development, contracting and re-contracting ass
Slide 11: Q3/23 results reflect strong fleetwide performance
Q3/23 results reflect strong fleetwide performance 96% facility availability • Revenue and other income before market-to-market benefitted from optimization activities of our $967M $410M Alberta Commercial portfolio +11% yoy +7% yoy • Benefits of a diversified fleet demonstrated by strong Revenues a
Slide 12: 9-month financial performance
9-month financial performance In-line with expectations • 9-month results reflect strong Alberta Commercial segment contribution $2.832B $1.138B • Adjusted EBITDA further benefitted from 9 months of +22% yoy +8% yoy contribution from MCV Revenues and Adjusted EBITDA • Net cash flow from operations i
Slide 13: Alberta commercial portfolio
Alberta commercial portfolio Reducing volatility and risk through hedging GWh Power Hedged Volume 10,000 2024 2025 2026 9,000 Power 8,000 Hedged volume (GWh) (3) 9,500 8,500 7,500 7,000 6,000 Weighted average hedged prices(1) ($/MWh) (3) Mid-$70s Mid-$70s Mid-$70s 5,000 4,000 Forward Alberta power p
Slide 14: 2023 targets
2023 targets On track to deliver another strong year of operating and financial performance Facility availability Sustaining capex ($M) Adjusted EBITDA ($M) AFFO ($M) 95% 94% $135 to $145 $1,455 to $1,515 $805 to $865 $1,138 $657 $99 Q3/23 YTD 2023T Q3/23 YTD 2023T Q3/23 YTD 2023T Q3/23 YTD 2023T •
Slide 15: Mark your calendar
Mark your calendar • Investor Day event to be held on May 7 and 8, 2024 in Edmonton, Alberta • Experience will include a tour of the Genesee Generating Station and Genesee Repowering project site • 2024 guidance to be provided in Q4/23 15
Slide 16: Questions & Answers
Questions & Answers 16
Slide 17: Forward-looking information
Forward-looking information Forward-looking information or statements included in this presentation are provided to inform our • electricity and other energy and carbon prices; shareholders and potential investors about management’s assessment of Capital Power’s future plans and • performance; opera
Slide 18: Investor Relations
Investor Relations Kat Perron Media & Investor Relations capitalpower.com 1-780-392-5335 investor@capitalpower.com 18