Slide 1: Fiscal 2022 First Quarter Results
1 Fiscal 2022 First Quarter Results Roger Perreault President and CEO, UGI Corporation Te d J . J a s t r ze b s k i Chief Financial Officer, UGI Corporation R o b e r t F. B e a r d Executive Vice President, Natural Gas, Global Engineering & Construction and Procurement 1 1
Slide 2: About This Presentation
About This Presentation This presentation contains forward-looking statements, including estimates and projections, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on
Slide 3: First Quarter Summary
First Quarter Summary Roger Perreault President and CEO, UGI Corporation 3 3
Slide 4: Q1 FY22 Financial Highlights
Q1 FY22 Financial Highlights Adjusted diluted EPS1 of $0.93 in Q1 FY22 vs $1.18 in Q1 FY21 $0.93 GAAP diluted EPS of ($0.46) vs. $1.44 in Q1 FY21 Q1 FY22 Adjusted Diluted EPS1 Results impacted by: record warm weather in the U.S. in December the effects of significant increases and volatili
Slide 5: Key Highlights
Key Highlights Reliable Earnings Growth Utilities invested $110+ million of capital and adds 4,500+ customers Mountaineer delivered solid Q1 results and provides an avenue for growth AmeriGas benefitted from disciplined margin management efforts UGI Utilities filed a request with the PAPUC o
Slide 6: First Quarter Financial Review
First Quarter Financial Review Ted J. Jastrzebski Chief Financial Officer, UGI Corporation 6 6
Slide 7: Q1 FY22 Adjusted Diluted Earnings per Share
Q1 FY22 Adjusted Diluted Earnings per Share Q1 FY22 Q1 FY21 AmeriGas Propane $0.16 $0.35 UGI International 0.26 0.44 Midstream & Marketing 0.24 0.17 Utilities 0.29 0.23 Corporate & Other (a) (1.41) 0.25 (Loss) earnings per share – diluted (b) (0.46) 1.44 Net losses (gains) on commodity derivative in
Slide 8: Q1 FY22 Results Recap
Q1 FY22 Results Recap Q1 FY22 Adjusted Diluted EPS1 Compared to Q1 FY21 $(0.19) $(0.18) ($0.01) $0.06 $0.07 $1.18 $0.93 2 Q1 FY21 AmeriGas UGI Midstream Utilities Corporate Q1 FY22 Propane International & Marketing & Other Q1 FY22 GAAP diluted EPS of $(0.46) compared to $1.44 in Q1 FY21 1.8Adjusted
Slide 9: Financial Results – AmeriGas Propane
Financial Results – AmeriGas Propane (Dollars in Millions) Q1 FY21 Q1 FY22 Weather versus normal Earnings Before Interest Expense & Income Taxes $141 Total Margin (34) Operating and Administrative Expenses (19) Depreciation and Amortization (1) Other Income and Expense, net (1) Earnings Before Inter
Slide 10: Financial Results – UGI International
Financial Results – UGI International (Dollars in Millions) Q1 FY21 Q1 FY22 Weather versus normal Earnings Before Interest Expense & Income Taxes $136 Total Margin (61) Operating and Administrative Expenses (4) Depreciation and Amortization 2 Realized FX Gains 3 5.0% Other Income and Expense, net 6
Slide 11: Financial Results – Midstream & Marketing
Financial Results – Midstream & Marketing (Dollars in Millions) Q1 FY21 Q1 FY22 Weather versus normal Earnings Before Interest Expense & Income Taxes $59 Total Margin 18 Operating and Administrative Expenses 3 Depreciation and Amortization (1) Other Income and Expense, net 3 Earnings Before Interest
Slide 12: Financial Results – Utilities
Financial Results – Utilities (Dollars in Millions) Q1 FY21 Q1 FY221 Weather versus normal Earnings Before Interest Expense & Income Taxes $78 Total Margin 46 Operating and Administrative Expenses (20) Depreciation (6) Earnings Before Interest Expense & Income Taxes $98 Q1 FY21 Q1 FY22 Item Primary
Slide 13: Liquidity Update
Liquidity Update • Strong balance sheet position Available Liquidity • $1.5 Billion in available liquidity1 as of December 31, 2021 $2.4 $2.2 • On February 2nd, our Board of Directors: $1.6 $1.5 1.5 • Declared a quarterly dividend of $0.345 per share • Approved extension of the existing share repurc
Slide 14: Conclusion
Conclusion Roger Perreault President and CEO, UGI Corporation 14 14
Slide 15: Conclusion
Conclusion Reliable Earnings Growth Renewables Rebalance Driving FY22 performance Our long-term commitments Focused Margin 6 - 10% • Recovery of higher commodity cost Management Long-term EPS Leveraging Growth Target core Disciplined • Control of operating expenses competencies Expense Management •
Slide 16: Q & A
Q Q & A 16 16
Slide 17: Appendix
Appendix 17 17
Slide 18: UGI Supplemental Footnotes
UGI Supplemental Footnotes • Management uses “adjusted net income attributable to UGI Corporation” and “adjusted diluted earnings per share,” both of which are non-GAAP financial measures, when evaluating UGI’s overall performance. Management believes that these non-GAAP measures provide meaningful
Slide 19: Q1 FY22 Adjusted Net Income
Q1 FY22 Adjusted Net Income (Dollars in Millions) Q1 FY22 Q1 FY21 AmeriGas Propane $34 $74 UGI International 57 92 Midstream & Marketing 51 35 Utilities 63 49 Corporate & Other (a) (302) 53 Net (loss) income attributable to UGI Corporation (97) 303 Net losses (gains) on commodity derivative instrume
Slide 20: Investor Relations
Investor Relations: Tameka Morris Arnab Mukherjee 610-456-6297 610-768-7498 morrista@ugicorp.com mukherjeea@ugicorp.com 20 20