Slide 1: First Quarter 2024 Earnings Teleconference
First Quarter 2024 Earnings Teleconference May 14, 2024
Slide 2: 1Q24 Financial summary
1Q24 Financial summary First Quarter Full Year (millions of dollars, except earnings per share 2024 2023 % Change 2023 2022 % Change (EPS)) Revenues Transmission 553 555 (0.4%) 2,214 2,077 6.6% Distribution 1,605 1,509 6.4% 5,582 5,660 (1.4%) Distribution Revenues (Net of Purchased 509 499 2.0% 1,93
Slide 3: 1Q24 Financial summary (1/2)
1Q24 Financial summary (1/2) The Company announces a refreshed customer-focused strategy that builds on the successes of recent years and positions it to deliver on its commitment to building a Financial Highlights ($M) – 1Q24 Year over Year Comparison brighter future for all Ontarians. 1Q 2024 1Q 2
Slide 4: 1Q24 Financial summary (2/2)
1Q24 Financial summary (2/2) Selected Quarterly Financial Highlights: Regulated Capital Investments ($M) Assets Placed in Distribution OM&A costs decreased by $5 million or 2.7% year-over-year primarily Service ($M) Transmission Distribution due to: • Lower fuel costs of Hydro One Remotes, which are
Slide 5: Our refreshed strategy
Our refreshed strategy Hydro One • Investor Overview • 5
Slide 6: Strong balance sheet and liquidity
Strong balance sheet and liquidity (as at March 31, 2024) 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 One
Slide 7: Common share dividends
Common share dividends A Growing and Sustainable Dividend4 Key Points • Quarterly dividend declared at $0.3142 per common share ($1.2568 annualized) • Targeted dividend payout ratio remains at 70% - 80% of net income • Attractive and growing dividend supported by stable, 0.13 1.1688 regulated cash f
Slide 8: 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