Slide 1: Third Quarter 2023 Earnings Teleconference
Third Quarter 2023 Earnings Teleconference November 8, 2023
Slide 2: 3Q23 Financial summary
3Q23 Financial summary Third Quarter Year to Date (millions of dollars, except earnings per share 2023 2022 % Change 2023 2022 % Change (EPS)) Revenues Transmission 594 562 5.7% 1,708 1,597 7.0% Distribution 1,329 1,458 (8.8%) 4,123 4,289 (3.9%) Distribution Revenues (Net of Purchased Power)1 475 49
Slide 3: 3Q23 Financial summary
3Q23 Financial summary The Company continues to support economic growth and a clean energy future in Financial Highlights ($M) – 3Q23 Year over Year Comparison Ontario with three new transmission projects being awarded in the Northeastern and Eastern part of the province. 3Q 2023 3Q 2022 Selected Qu
Slide 4: 3Q23 Financial summary
3Q23 Financial summary Selected Quarterly Financial Highlights: Assets Placed in Regulated Capital Investments ($M) Service ($M) Distribution OM&A costs decreased by $11 million or 6.4% year-over-year primarily Transmission Distribution due to: • Storm restoration costs incurred in the prior year, w
Slide 5: Strong balance sheet and liquidity
Strong balance sheet and liquidity (as at September 30, 2023) Investment grade balance sheet with one of lowest debt costs in utility sector Significant available liquidity ($M) Strong investment grade debt ratings (long-term/short-term/outlook) Shelf registrations 250 Hydro One Limited (HOL) Hydro
Slide 6: Common share dividends
Common share dividends A Growing and Sustainable Dividend4 Key Points • Quarterly dividend declared at $0.2964 per common 0.13 share ($1.1856 annualized) • Targeted dividend payout ratio remains at 70% - 80% of net income • 1.0525 1.1051 Attractive and growing dividend supported by stable, 0.9545 1.
Slide 7: Disclaimers
Disclaimers Forward Looking Information This presentation contains “forward-looking information” within the meaning of applicable Canadian securities laws that is based on current expectations, estimates, forecasts and projections about Hydro One’s business and the industry in which Hydro One operat