Bce Inc. · TSX:BCE

Bce — Corporate Update (December 2009)

7 slides from Bce's corporate update, Dec 17, 2009

  1. Slide 1: Cash Deployment Strategy Conference Call

    Cash Deployment Strategy Conference Call December 17, 2009

  2. Slide 2: Safe harbour notice

    Safe harbour notice This presentation contains forward-looking statements with respect to items such as revenue, EBITDA, capital intensity, Adjusted earnings per share, free cash flow, dividends, share buybacks and other statements that are not historical facts. Several assumptions were made by BCE

  3. Slide 3: Use of cash aligned with capital markets strategy

    Use of cash aligned with capital markets strategy ƒ Solid and stable investment grade metrics 9 1 Maintain strong ƒ Repaid $1.5B 2009 debt maturities 9 credit profile ƒ Refinanced ~$1B 2010 debt maturities: $600M repaid in ’09 9 ƒ $500M special pension contribution: before YE’09 9 2 Ensure ample ƒ $

  4. Slide 4: Increased total shareholder returns

    Increased total shareholder returns 7% dividend increase to $1.74 per share Delivering on dividend growth model (Annualized common dividend per share) • Effective for 2010 commencing with Q1’10 dividend payment on April 15 • Follows two dividend increases in 2009 +19% • Dividend increase maintains A

  5. Slide 5: $500M special pension contribution

    $500M special pension contribution • Addresses pension issue in a prudent manner • De-risks pension plan – Estimated solvency deficit of ~$2B at YE’09 reduced to ~$1.5B Rationale • Positively impacts future financial performance – Reduces 2010 pension funding requirements by up to $75M – Reduces 201

  6. Slide 6: Maintaining strong liquidity and credit profile

    Maintaining strong liquidity and credit profile Bell liquidity position ($M) • Significant flexibility maintained post Cash balance (Sept. 30, 2009) 1,159 $500M special pension contribution Free cash flow (1) ~300-450 – Expected remaining cash balance at YE’09 of ~$500M to $600M Debt repayments (150

  7. Slide 7: 2009 financial guidance update

    2009 financial guidance update • On track to meet guidance for revenues, EBITDA, capital intensity and Adjusted EPS • Free cash flow expected for 2009 now reflects special $500M voluntary pension contribution to be made at end of December • No change in outlook for cash from operations or other comp

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