Slide 1: First Quarter 2020 Earnings Teleconference
First Quarter 2020 Earnings Teleconference May 8th, 2020 One of North America’s largest electric utilities TSX:H
Slide 2: Hydro One Responds to COVID-19
HYDRO ONE RESPONDS TO COVID-19 How our customers are being supported We announced a Pandemic Relief Fund to assist customers affected by the COVID-19 and offer financial assistance as well as increased payment flexibility to customers. Hydro One temporarily suspended late payment fees for all custom
Slide 3: 1Q20 Financial Summary
HYDRO ONE LIMITED 1Q20 FINANCIAL SUMMARY First Quarter Year End (millions of dollars, except EPS) 2020 2019 % Change 2019 2018 % Change Revenue Transmission $400 $428 (6.5%) $1,652 $1,686 (2.0%) Distribution 1,439 1,321 8.9% 4,788 4,422 8.3% Distribution (Net of Purchased Power) 432 514 (16.0%) 1,67
Slide 4: 1Q20 Financial Summary
HYDRO ONE LIMITED 1Q20 FINANCIAL SUMMARY Hydro One’s strong foundation and stable financials enable company to respond to the challenges of COVID-19 while continuing to energize life for Ontarians Selected Financial Highlights: Revenues Net of Purchased Power decreased by 11.4% during the quarter en
Slide 5: Regulatory Update
REGULATORY UPDATE 2020 - 2022 Transmission Rate Application Peterborough and Orillia Applications • On April 23rd, 2020, the OEB issued its decision, approving a capital envelop of approximately $3.4B over 2020-2022 period, which • September 26, 2018: Filed MAAD application to purchase Orillia Power
Slide 6: Electric Local Distribution Company Consolidation
ELECTRIC LOCAL DISTRIBUTION COMPANY CONSOLIDATION Orillia Power Distribution Corporation Key Points • $41 million purchase price, including approximately $15 million of assumed debt and regulatory liabilities, subject to closing adjustments • Serves approximately 14,000 customers located in Simcoe C
Slide 7: Strong Balance Sheet and Liquidity
STRONG BALANCE SHEET AND LIQUIDITY Investment grade balance sheet with one of lowest debt costs in utility sector Significant Available Liquidity ($M) Strong Investment Grade Credit Ratings (LT/ST/Outlook) Shelf Registrations 250 Hydro One Limited Hydro One Inc. (HOI) Hydro One Inc. HOL: Universal S
Slide 8: Common Share Dividends
COMMON SHARE DIVIDENDS Quarterly dividend declared at $0.2536 per common share Key Points Dividend Statistics • Quarterly dividend declared at $0.2536 per common share ($1.0144 annualized) Yield1 4.0% • Targeted dividend payout ratio remains at 70% - 80% of net income Annualized Dividend2,3 $1.0144
Slide 9: Affirmed 2022 Guidance
AFFIRMED 2022 GUIDANCE $1.65 $1.52 $0.02 $1.35 $1.30 $0.11 $0.24 $0.08 $0.02 2019 Basic EPS 2018 Distribution Decision Normalizing to Distribution Insurance Merger Related Costs Lake Superior Link 2019 Normalized EPS Blank 2022 Basic EPS Catch-Up Allowed ROE • Company estimates subject to change and
Slide 10: Disclaimers
DISCLAIMERS In this presentation, all amounts are in Canadian dollars, unless otherwise indicated. Any graphs, tables or other information in this presentation demonstrating the historical performance of the Company or any other entity contained in this presentation are intended only to illustrate p