Canadian Utilities Limited Class A · TSX:CU
Canadian Utilities Limited Class A — Q4 2024 Earnings Presentation
20 slides from Canadian Utilities Limited Class A's earnings presentation, Feb 27, 2025
Slide 1: Q4 2024 Earnings Call
Q4 2024 Earnings Call Canadian Utilities Limited February 27, 2025
Slide 2: Legal Notice: Forward-Looking Information Advisory
Legal Notice Forward-Looking Information Advisory Certain statements made by company representatives and information provided in this presentation may be considered forward-looking information. Forward-looking information is often, but not always, identified performance, words such as "anticipate",
Slide 3: Legal Notice: Non-GAAP and Other Financial Measures Disclosure Advisory
Legal Notice Non-GAAP and Other Financial Measures Disclosure Advisory This presentation contains various “total of segments measures”, “non-GAAP financial measures” and “non-GAAP ratios” (as such terms are defined in National Instrument 52-112 – Non-GAAP and Other Financial Measures Disclosure ("NI
Slide 4: FY 2024 Adjusted Earnings Waterfall
Financial Highlights FY 2024 Adjusted Earnings1 Waterfall $61 $4 ($2) ($12) $647 +9% Year-over-Year $596 Growth FY ATCO ATCO ATCO Corporate & Other 2 FY 2023 1 Energy Systems 2 EnPower 2 Australia 2 2024 1 Note: Millions of Canadian dollars. 1. Total of segments measure (as defined in NI 52-112). Th
Slide 5: Strong Cash Flows Support Capital Program
Financial Highlights Strong Cash Flows Support Capital Program Cash Flows from Operating Activities Capital Expenditures $1,917 $1,780 $1,611 $1,360 FY 2023 FY 2024 FY 2023 FY 2024 Portfolio of cash flow generating assets support our strategic investments that underpin long-term growth Note: Million
Slide 6: Energy Systems
Energy Systems Canadian Utilities Limited Q4 2024 Presentation 6 ATCO Energy Systems [ CONFIDENTIAL ] • June 2024
Slide 7: Capital Expenditures (3-year plan)
ATCO Energy Systems Capital Expenditures (3-year plan) $5.8B 5.4% 3 Year 3 Year Mid-Year Capital Expenditure Plan Rate Base1 CAGR2 $2.5B $1.8B $1.5B $1.6 $1.4B $0.2 $0.4 $0.9 $0.4 $0.4 $0.3 $0.4 $0.4 $0.3 $0.2 $0.2 $0.5 $0.4 $0.3 $0.3 2024 2025E 2026E 2027E Electricity Distribution Electricity Trans
Slide 8: Yellowhead Mainline
ATCO Energy Systems Yellowhead Mainline Existing pipeline Yellowhead pipeline Needs application filed with AUC Production in September 2024 Fort McMurray 200-230 km length Total investment for the project is estimated at $2.8 billion 1.1 Bcf/d capacity Construction to start in 2026; expected to be o
Slide 9: Yellowhead Mainline Timeline
ATCO Energy Systems Yellowhead Mainline Timeline Q2 2024 Q3 2024 Q2 2025 Q3 2025 Q2 2026 Q3 2026 Q4 2027 Pre-FEED AUC Need AUC Need Approval Land Acquisition Regulatory and Construction Target Complete Application FEED Complete Complete Permitting Start In-service Date AUC Facility Complete Long Lea
Slide 10: Central East Transfer-Out Project (CETO)
ATCO Energy Systems PROJECT TIMELINE Central East Transfer-Out Project (CETO) Aug 2021 Needs and Facility Application approved ATCO is building 85 km of 240 kV double-circuit powerline and expanding Dec 2022 the Tinchebray Substation to connect customers to renewable generation AESO direction to beg
Slide 11: EnPower
EnPower Canadian Utilities Limited Q4 2024 Presentation 11
Slide 12: ATCO Heartland Hydrogen Hub (AH3)
ATCO EnPower ATCO Heartland Hydrogen Hub (AH3) Achievements to date ATCO Heartland Business update Energy Center • Signed Letter of Intent with Linde Canada Inc. (Linde). • Working alongside Linde and other parties to further the development and Heartland Hydrogen Hub Site commercial success of the
Slide 13: Generation Portfolio
ATCO EnPower Generation Portfolio Owned Capacity Operating Assets Type Gross Capacity (MW) (MW) Forty Mile Wind 225 225 Adelaide Wind 40 30 Empress Solar 39 39 Grew generation Deerfoot Solar 41 20 portfolio to Electricidad del Golfo Oldman Hydro Hydro 35 32 35 24 457 MW from 70 Barlow Solar 31 15 MW
Slide 14: Alberta is Well Positioned for the Data Center Build Out
ATCO EnPower Alberta is Well Positioned for the Data Center Build Out Gas Power Generation Gas Renewable Distribution Power and Storage Generation Abundant Regulatory Natural Gas Alberta’s Environment Resources Data Center Advantage Abundant Water Land Access Resources Canadian Utilities Limited Q4
Slide 15: ATCO's Asset Base Spans the Entire Data Center Value Chain
ATCO EnPower ATCO’s Asset Base Spans the Entire Data Center Value Chain Inputs Pipelines & Storage Generation Transmission Market ✓ CO Sequestration 2 CO2 ✓ Natural Gas Supply ✓ Gas Pipelines ✓ Gas Storage ✓ Natural Gas Power ✓ Data Centers ✓ Electricity Transmission ✓ Water Supply ✓ Renewable Power
Slide 16: Australia
Australia Canadian Utilities Limited Q4 2024 Presentation 16
Slide 17: Sixth Access Arrangement (AA6)
ATCO Australia Sixth Access Arrangement (AA6)1 Total Tariff Revenue $1,375M $1,375. 00 Nominal Return on Equity +$536M +3.21% 8.23% $839M AA5 AA6 Accelerated Depreciation $38M 5.02% $0 AA5 AA6 AA5 AA6 Canadian Utilities Limited Q4 2024 Presentation 17 1. AA6 will be implemented for the period Januar
Slide 18: Canadian Utilities Limited Q4 2024 Presentation
Canadian Utilities Limited Q4 2024 Presentation 18
Slide 19: Questions & Answers
Questions & Answers InvestorRelations@atco.com Canadian Utilities Limited Q4 2024 Presentation 19
Slide 20: Corporate & Other
Appendix Corporate & Other ➢ Preferred Dividends ($83M) ➢ Net Interest1 ($1M) ➢ Head Office & Other $1M ➢ ATCO Energy Ltd.2 $6M Total FY 2024 Adjusted Earnings ($77M) 1. Includes Investment income and Interest expense. 2. Includes 7 months of adjusted earnings of ATCO Energy Ltd. due to the sale of