Capital Power Corporation · TSX:CPX

Capital Power — CIBC Whistler Institutional Investor Conference 2016

9 slides from Capital Power's conference presentation, Jan 21, 2016

  1. Slide 1: CIBC Institutional Investor Conference

    CAPITAL POWER CIBC Institutional Investor Conference Whistler, BC Brian Vaasjo, President & CEO January 21, 2016

  2. Slide 2: Capital Power overview

    Capital Power overview  Growth-oriented North American IPP with ownership interest in 18 facilities in Canada and the US totaling more than 3,200 MW(1)  Young and modern fleet of assets  Proven operating, development & construction expertise  Strong contracted cash flow base supports annual divi

  3. Slide 3: Alberta Climate Leadership Plan: Carbon Competitiveness Regulation (CCR)

    Alberta Climate Leadership Plan Carbon Competitiveness Regulation (CCR)  Current Specified Gas Emitters Regulation (SGER) replaced with CCR in 2018  Electricity generators will pay $30/tonne starting in 2018 for greenhouse gas emissions above electricity sector performance standard  Impact on Gen

  4. Slide 4: Alberta Climate Leadership Plan: accelerated coal phase-out

    Alberta Climate Leadership Plan Accelerated phase-out of coal facilities to be replaced with renewables and merchant natural gas  Phase out coal-fired power by 2030 and replace at least 50- 75% of retired coal generation with renewable power  Panel recommended central procurement of renewables, by

  5. Slide 5: Alberta Climate Leadership Plan: maintenance of Alberta market design

    Alberta Climate Leadership Plan Maintenance of Alberta market design  New renewable generation will be timed to replace two-thirds of retiring coal-fired generation  Ensures existing assets are not adversely impacted by oversupply  Ensures new gas-fired generation continues to be built based on p

  6. Slide 6: Alberta Climate Leadership Plan: compensation for accelerated phase-out of coal

    Alberta Climate Leadership Plan Compensation for accelerated phase-out of coal  Alberta Government committed to avoid “unnecessarily stranding capital” and “treat companies fairly”  A component of compensation for early retirement could be the ratio of reduced asset life to the current remaining l

  7. Slide 7: Improving contracted cash flow

    Improving contracted cash flow(1,2,3) Substantial expansion in contracted operating margin from 2012 to 2016 $450 $400 $350 } Shepard & K2 Wind } $300 3 wind projects Beaufort $250 ($M) Macho Springs K2 Wind $200 Shepard PD&N $150 Halkirk Quality Wind $100 Island Generation North Carolina $50 Kingsb

  8. Slide 8: Dividend growth guidance

    Dividend growth guidance (dividend/share) $1.80  Generating $340M in free cash flow(2) in 2016 before growth capex at the bottom of the cycle $1.60  Dividend payout ratio to FFO averages 39% from 2016 to $1.40 2018  Pipeline of opportunities to expand contracted footprint $1.20 throughout North A

  9. Slide 9: Investor Relations Contact

    Investor Relations Contact Randy Mah 10423 101 Street NW Senior Manager 10th Floor (780) 392-5305 Edmonton, Alberta rmah@capitalpower.com Canada, T5H 0E9 www.capitalpower.com

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