Atco Ltd. Class I · TSX:ACO.X
Atco Ltd. Class I — Investor Presentation (May 2025)
32 slides from Atco Ltd. Class I's investor presentation, May 16, 2025
Slide 1: Investor Presentation
Investor Presentation ATCO Ltd. May 16, 2025
Slide 2: Table of contents
Legal Notice 3 Table of ATCO Group ATCO Group overview 5 5 contents Organizational structure 6 Financial overview 7 Credit ratings 10 Canadian Utilities Limited 11 Organizational structure 12 ATCO Energy Systems 13 ATCO EnPower 17 ATCO Australia 19 ATCO Structures 21 ATCO Frontec 26 ATCO Investments
Slide 3: Legal notice
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 by the use of words such as "anticipate",
Slide 4: Legal notice: Non-GAAP and other financial measures
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 5: Essential services to communities
ATCO Group overview Essential services to More resilient to demand fluctuations communities Underpinned by growth in the regions we operate Performing for communities Renewable energy generation Space rentals Electric transmission Gas transmission & distribution & distribution Natural gas storage Po
Slide 6: Organizational structure
Organizational structure 52.5% 1 100% 100% Structures & 2 Investments Logistics Energy Land and Energy Systems Structures Development EnPower Frontec Fresh Bites Australia Neltume Ports 40% 1. Canadian Utilities Limited ownership as of March 31, 2025. 2. ATCO Investments also includes ATCO Corporate
Slide 7: Foundational stability of the regulated utility underpins our growth assets
Financial overview Foundational stability of the regulated utility ATCO Australia1 ATCO Structures & $25 ATCO Investments1,3 Logistics1 $37 underpins our growth assets $104 Portfolio Balances Yield and Long-Term Growth ATCO EnPower1 Significant Non-Regulated Energy $23 $481M 1,2 Adjusted Earnings FY
Slide 8: Continued Growth
Financial overview Continued Growth 2015 GCOC3 decision and global Long-term track record of adjusted earnings growth commodity price through various economic cycles declines 2013 2020 2016 $481 million in adjusted earnings in 20241,2 Calgary Alberta COVID-19 2008- Floods Pandemic 2009 wildfires Fin
Slide 9: Strong cash flows support capital program
Financial overview Strong cash flows support capital program Cash flows from operating activities1 Capital expenditures2 $280 $226 $209 $185 FY 2023 FY 2024 FY 2023 FY 2024 Portfolio of cash flow generating assets support our strategic investments that underpin long-term growth Note: Millions of Can
Slide 10: Strong issuer credit ratings
Credit ratings Strong issuer credit ratings Key Metrics: HoldCo debt is less than 5% of A (low) BBB+ consolidated debt Access to ~$2 billion in available committed credit A A- liquidity Conservative balance sheet with substantial cash balance A (high) A- Notes: As of March 31, 2025. ATCO Ltd. Invest
Slide 11: Canadian Utilities Limited
ATCO Ltd. Investor Presentation 11
Slide 12: Organizational structure
Organizational structure 100% 100% 100% 100% Alberta Electricity Distribution Alberta Electricity Transmission Electricity Generation Natural Gas Distribution Alberta Natural Gas Distribution Alberta Natural Gas Transmission Storage & Industrial Water Electricity Generation Northland Utilities Yukon
Slide 13: ATCO Energy Systems
ATCO Ltd. Investor Presentation 13
Slide 14: An exceptional jurisdiction for electric and gas infrastructure investment
ATCO Energy Systems An exceptional jurisdiction for electric and gas infrastructure investment ▪ Strong macroeconomic factors, including energy transition support and investment ▪ Government has supportive and pro-business environment ▪ Highly gas supportive jurisdiction Alberta has one of the best
Slide 15: Pure-play, gas and electric regulated utility
ATCO Energy Systems Pure-play, gas and electric regulated utility $3.0B+ $14.5B 7 Utilities ATCO Electric Transmission FY 2024 revenue1 2024 Mid-year rate base2 ATCO Electric Distribution ATCO Gas ATCO Pipelines $333M 5.4% ATCO Electric Yukon Northland Utilities (NWT) FY 2024 3 Year mid-year LUMA En
Slide 16: Transmission and distribution underpin growth in Alberta
ATCO Energy Systems Transmission and distribution underpin growth in Alberta Adjusted earnings contribution by operating segment1,2 Intl. Electricity Operations (LUMA Energy) Electricity 9% 265,000 customers 4 Electricity Distribution3 24% Natural Gas Gas 1.3M Distribution Alberta 22% ~91% customers
Slide 17: ATCO EnPower
ATCO Ltd. Investor Presentation 17
Slide 18: Optionality within our asset base to drive long-term growth
ATCO EnPower Optionality within our asset base to drive long-term growth Established assets and a robust development pipeline diversified across energy transition value chain 117 PJ 544,000 m3 85,200 m3/d Strategic Natural Gas Natural Gas Liquids Water Infrastructure Storage Capacity Storage Capacit
Slide 19: ATCO Australia
ATCO Ltd. Investor Presentation 19
Slide 20: Growing our stable base of assets in Australia
ATCO Australia Growing our stable base of assets in Australia ▪ ATCO Gas Australia is a regulated provider of natural gas $1.4B $25M Predictable distribution services in Western Australia, serving metropolitan 2024 Mid-Year Adjusted Earnings2 and stable Perth and surrounding regions. Rate Base1 cash
Slide 21: ATCO Structures
ATCO Ltd. Investor Presentation 21
Slide 22: Global footprint
ATCO Structures Global footprint 44 Branch locations Australia 12 Manufacturing locations Calgary (2x), AB 5 Countries Canada Australia Lethbridge, AB United States South Grimsby, ON Mexico America Chile Kamloops, BC North America Diboll, TX Adelaide, AUS Perth, AUS Brisbane (2x), AUS Guadalajara, M
Slide 23: Proven execution in the space rentals market
ATCO Structures Proven execution in the space rentals market Consistent leasing activity results in a steady revenue profile High margin and generates strong cash flow Strong demand for used product reinforces terminal value Reliable recurring cash flow enables continued growth of base business ATCO
Slide 24: Workforce Housing: Proven operators with scale
ATCO Structures Workforce Housing: Proven operators with scale Meaningful financial impact as projects are generally larger scale Major projects enable growth of sustainable base business Experience operating projects across a diverse range of end markets and geographies Track record of winning and
Slide 25: Growth strategy in action
ATCO Structures Growth strategy in action Space Rentals Modular Housing Grow existing base Rapid deployment Expand rental fleet Superior quality and consistency Geographic expansion Improved safety Focused on Australia, Longer warranties Canada & United States Higher energy efficiency Scaled footpri
Slide 26: ATCO Frontec
ATCO Ltd. Investor Presentation 26
Slide 27: ATCO Frontec provides integrated operational support services
ATCO Frontec ATCO Frontec provides: ✓ Facility operations and maintenance services ✓ Workforce lodging and support services ✓ Defence operations services ✓ Disaster and emergency management services 41 years 30 Operating 1.4 million Supporting Government & Locations Worldwide Guests Served Defence C
Slide 28: ATCO Investments
ATCO Ltd. Investor Presentation 28
Slide 29: Neltume Ports and other ATCO Investments businesses
ATCO Investments Neltume Ports is a port operator and developer with a diversified portfolio of 18 port facilities and 5 port operation services, primarily located in Chile, with additional operations in Uruguay, Argentina, Brazil and the United States ASHCOR is a company engaged in the recycling an
Slide 30: Neltume Ports Overview
ATCO Investments Neltume Ports Overview Diversified across goods & commodities handled FY 2024 Throughput Break Bulk 25% Bulk 32% 45M Tonnes Handled Container 43% Growth Drivers 5 Port operation 18 ❖ Improving operational ❖ Increasing volumes and Port facilities efficiency ownership at existing port
Slide 31: Why invest: Diversified portfolio of investments
Why invest Diversified portfolio of investments Controlling ownership of Canadian Utilities and regulated business is the foundation of asset base Diversified portfolio of essential services investments creates incremental stability Track record of stable earnings for the portfolio, even through per
Slide 32: InvestorRelations@atco.com
InvestorRelations@atco.com ATCO Ltd. Investor Presentation 32