Slide 1: Fiscal 2021 Results
1 Fiscal 2021 Results Roger Perreault President and CEO, UGI Corporation Te d J . J a s t r ze b s k i Chief Financial Officer, UGI Corporation R o b e r t F. B e a r d Executive Vice President, Natural Gas, Global Engineering & Construction and Procurement 1 1
Slide 2: About This Presentation
About This Presentation This presentation contains statements, estimates and projections that are forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended). Management believes that these are reasonable as of today’s date only. Actual results may diffe
Slide 3: Fiscal Year 2021 Summary
Fiscal Year 2021 Summary Roger Perreault President and CEO, UGI Corporation 3 3
Slide 4: FY2021 Financial Highlights
FY2021 Financial Highlights • Delivered record GAAP diluted EPS of $6.92 and adjusted diluted EPS of $2.96 in FY2021 $2.96 • Adjusted diluted EPS of $2.96 exceeds the original guidance, FY2021 Adjusted Diluted EPS1 and is within the updated guidance range • Demonstrated strong year-over-year growth
Slide 5: FY2021 Key Accomplishments
FY2021 Key Accomplishments Natural Gas Global LPG Record $394 million of capital investment at 9% increase in National Accounts volumes UGI Utilities AmeriGas expanded the Cynch propane 12,000+ customers added at UGI Utilities, Inc. home delivery service; in 22 cities at Completed acquisit
Slide 6: FY2021 Key Accomplishments
FY2021 Key Accomplishments Recent announcements demonstrate commitment towards renewables and provide momentum for the future • Committed $100M+ to RNG • Announced intended joint venture to projects in Idaho, upstate advance the production and use of New York, Ohio, Kentucky, rDME in the LPG industr
Slide 7: Fiscal Year 2021 Financial Review
Fiscal Year 2021 Financial Review Ted J. Jastrzebski Chief Financial Officer, UGI Corporation 7 7
Slide 8: FY2021 Adjusted Diluted Earnings per Share
FY2021 Adjusted Diluted Earnings per Share FY2021 FY2020 AmeriGas Propane $0.79 $0.74 UGI International 1.04 0.82 Midstream & Marketing 0.51 0.44 UGI Utilities 0.68 0.65 Corporate & Other (a) 3.90 (0.11) Earnings per share – diluted 6.92 2.54 Net gains on commodity derivative instruments not associa
Slide 9: FY2021 Results Recap
FY2021 Results Recap FY2021 Adjusted Diluted EPS1 – Comparison with FY2020 FY2021 Adjusted Diluted EPS1 – Segment Split $0.03 ($0.08) $0.22 $0.07 $2.963 $0.05 $2.672 UGI 0.68 0.65 Utilities Midstream 0.51 0.44 & Marketing $2.96 $2.67 UGI 1.04 0.82 International AmeriGas 0.74 0.79 FY2020 AmeriGas UGI
Slide 10: Financial Results - AmeriGas
Financial Results - AmeriGas (Dollars in Millions) FY2020 FY2021 Weather versus normal Earnings Before Interest Expense & Income Taxes $373 Total Margin (24) Operating and Administrative Expenses 21 Depreciation and Amortization 5 Other Income and Expense, net 10 Earnings Before Interest Expense & I
Slide 11: Financial Results – UGI International
Financial Results – UGI International (Dollars in Millions) FY2020 FY2021 Weather versus normal Earnings Before Interest Expense & Income Taxes $259 Total Margin 145 Operating and Administrative Expenses (77) Depreciation and Amortization (9) Other Income and Expense, net (1) Earnings Before Interes
Slide 12: Financial Results – Midstream & Marketing
Financial Results – Midstream & Marketing (Dollars in Millions) FY2020 FY2021 Weather versus normal Earnings Before Interest Expense & Income Taxes $168 Total Margin 18 Operating and Administrative Expenses 11 Depreciation and Amortization (1) Other Income and Expense, net (6) Earnings Before Intere
Slide 13: Financial Results – UGI Utilities
Financial Results – UGI Utilities (Dollars in Millions) FY2020 FY20211 Weather versus normal Earnings Before Interest Expense & Income Taxes $229 Total Margin 39 Operating and Administrative Expenses (15) Depreciation (14) Other Income and Expense, net 3 Earnings Before Interest Expense & Income Tax
Slide 14: Liquidity Update
Liquidity Update Available Liquidity • FY2021 Cash Flow from Operating Activities of $1.5 Billion compared to $1.1 Billion $2.4 in the prior-year period $2.2 • $509M (193% increase) in free cash flow1 compared to $1.6 $1.5 $1.5 the prior-year period • Strong balance sheet position • $2.2 Billion in
Slide 15: FY2022 Guidance
FY2022 Guidance FY2022 Adjusted Diluted EPS Guidance1 – Comparison with FY2021 6.4% $3.25 $0.15 FY2022 Adjusted Diluted EPS $0.13 $(0.12) $0.06 Guidance Growth over $(0.03) $3.05 FY2021 Actual (Using the mid-point of FY2022 guidance) $2.96 6%-10% FY2021 COVID-19 FY21 Tax Equity Units3 Mountaineer Ot
Slide 16: Conclusion
Conclusion Roger Perreault President and CEO, UGI Corporation 16 16
Slide 17: Conclusion
Conclusion Our diversified business delivered a record fiscal year performance Strategic actions in FY2021 created momentum in rebalancing our portfolio and position us well to continue delivering reliable earnings growth Reliable Earnings Growth Mountaineer acquisition Record year of capita
Slide 18: Q & A
Q Q & A 18 18
Slide 19: Appendix
Appendix 19 19
Slide 20: UGI Supplemental Footnotes
UGI Supplemental Footnotes • Management uses “adjusted net income attributable to UGI Corporation”, “free cash flow” and “adjusted diluted earnings per share,” all three of which are non-GAAP financial measures, when evaluating UGI’s overall performance. Management believes that these non-GAAP measu
Slide 21: FY2021 Adjusted Net Income
FY2021 Adjusted Net Income (Dollars in Millions) FY2021 FY2020 AmeriGas Propane $168 $156 UGI International 221 173 Midstream & Marketing 107 92 UGI Utilities 144 136 Corporate & Other (a) 827 (25) Net income attributable to UGI Corporation 1,467 532 Net gains on commodity derivative instruments not
Slide 22: Free Cash Flow
Free Cash Flow (Dollars in Millions) FY2021 FY2020 Net cash provided by operating activities $1,481 $1,102 (-) Expenditures for property, plant and equipment (690) (655) (-) Dividends on UGI Common Stock (282) (273) Free Cash Flow $509 $174 22 22
Slide 23: Investor Relations
Investor Relations: Tameka Morris Arnab Mukherjee 610-456-6297 610-768-7498 morrista@ugicorp.com mukherjeea@ugicorp.com 23 23