Slide 1: Second quarter 2021 conference call
Second quarter 2021 conference call July 29, 2021
Slide 2: Forward-looking information and non-GAAP measures
Forward-looking information and non-GAAP measures This presentation includes certain forward-looking information, including future oriented financial information or financial outlook, which is intended to help current and potential investors understand management’s assessment of our future plans and
Slide 3: François Poirier, President and Chief Executive Officer
François Poirier President and Chief Executive Officer
Slide 4: Strong operating performance continued in first half 2021
Strong operating performance continued in first half 2021 Delivering the energy people need, every day. Safely. Responsibly. Collaboratively. With integrity. (1) Non-GAAP measures which do not have any standardized meaning as prescribed by U.S. generally accepted accounting principles (GAAP). For mo
Slide 5: Advancing $21 billion secured capital program through 2025
Advancing $21 billion secured capital program through 2025 Secured capital program by segment ($billions) • Critical energy infrastructure that will power North America for decades to come • Largely ‘in-corridor’ expansions • Underpinned by long-term contracts and/or regulated business models • Incl
Slide 6: Vast opportunity set to drive continued disciplined growth
Vast opportunity set to drive continued disciplined growth Unparalleled demand for infrastructure under all energy mix scenarios Today’s needs Low-carbon future Highly-executable Electrification Bruce Power MCR in-corridor expansions of fleet and AM programs $21 billion Secured Recoverable LNG Renew
Slide 7: Dividend growth outlook
Dividend growth outlook $3.48* 5-7% 7% Expected future growth CAGR • $21 billion secured capital program • Robust development portfolio • Irreplaceable asset footprint driving in-corridor expansions • Deep capabilities and proven origination abilities $0.80 • Growth rate will depend on project mix,
Slide 8: Don Marchand, Executive Vice-President and Chief Financial Officer
Don Marchand Executive Vice-President and Chief Financial Officer
Slide 9: Consolidated results of operations
Consolidated results of operations (millions of dollars, except per share amounts) Three months Six months ended June 30 ended June 30 2021 2020 2021 2020 Net income/(loss) attributable to common shares 982 1,281 (75) 2,429 Specific items (net of tax): Keystone XL asset impairment charge and other 2
Slide 10: Business segment results
Business segment results(1) (millions of dollars) Three months Six months ended June 30 ended June 30 2021 2020 2021 2020 Comparable EBITDA(2) Canadian Natural Gas Pipelines 684 621 1,370 1,218 U.S. Natural Gas Pipelines 879 824 1,934 1,856 Mexico Natural Gas Pipelines 164 181 344 450 Liquids Pipeli
Slide 11: Other income statement items
Other income statement items(1) (millions of dollars) Three months Six months ended June 30 ended June 30 2021 2020 2021 2020 Comparable EBITDA(2) 2,246 2,199 4,738 4,734 Depreciation and amortization (633) (635) (1,278) (1,265) Comparable EBIT(2) 1,613 1,564 3,460 3,469 Interest expense included in
Slide 12: Significant progress on finance plan in second quarter
Significant progress on finance plan in second quarter Solid comparable funds generated from operations • $1.8 billion in the second quarter which reflects the resiliency and criticality of our energy infrastructure portfolio Redeemed all $500 million of outstanding Series 13 preferred shares on May
Slide 13: Funding program outlook 2021-2023
Funding program outlook 2021-2023 $Billions Financial strength and flexibility underpinned by: • Robust, predictable cash flow from operations • Access to capital markets on compelling terms • Expected Keystone XL project recoveries • Portfolio management, if and as deemed appropriate Finance plan d
Slide 14: Delivering long-term shareholder value
Delivering long-term shareholder value Track Visible Attractive, growing Strong record growth dividend financial position 12% average $21 billion secured 5.7% yield Numerous levers annual total through 2025 available to fund 5 to 7% expected future growth shareholder return Vast opportunity set futu
Slide 15: Question & answer period
Question & answer period 15
Slide 16: Closing remarks
Closing remarks François Poirier, President and Chief Executive Officer
Slide 17: Second quarter 2021 conference call
Second quarter 2021 conference call July 29, 2021
Slide 18: Appendix – Reconciliation of non-GAAP measures
Appendix – Reconciliation of non-GAAP measures (millions of dollars) Three months Six months ended June 30 ended June 30 2021 2020 2021 2020 Comparable EBITDA(1) 2,246 2,199 4,738 4,734 Depreciation and amortization (633) (635) (1,278) (1,265) Interest expense included in comparable earnings (577) (
Slide 19: Appendix – Reconciliation of non-GAAP measures (continued)
Appendix – Reconciliation of non-GAAP measures (continued) (millions of dollars) Three months Six months ended June 30 ended June 30 2021 2020 2021 2020 Net Cash Provided by Operations 1,711 1,613 3,377 3,336 Increase/(decrease) in operating working capital 27 (64) 259 307 Funds Generated from Opera