Dominion Energy, Inc. · NYSE:D
Dominion Energy — Merger or Acquisition (September 2023)
6 slides from Dominion Energy's merger presentation, Sep 5, 2023
Slide 1: Investor update
Investor update September 5, 2023 Regulated. Resilient. Sustainable.
Slide 2: Important note for investors
Important note for investors This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding Dominion Energy. The statements relate to, among other things, expectations, estimates and projections concerning the busine
Slide 3: Dominion Energy transactions overview
Dominion Energy Transactions overview ▪ Agreement to divest all three Gas Distribution companies (OH, NC, UT/WY/ID incl. Wexpro)¹ ▪ Buyer: Enbridge (TSX: ENB) (NYSE: ENB) ▪ Implied valuation of 1.5x 2022E year-end rate base, 16.6x 2023E operating earnings, and 16.7x 2024E operating earnings² ▪ Compe
Slide 4: Dominion Energy transaction benefits
Dominion Energy Transactions benefits ✓ Enbridge represents an attractive buyer of all three utilities Competitive and ▪ One of the largest and most experienced operators of energy infrastructure assets in robust sale North America process ▪ Significant track-record of high-quality gas distribution
Slide 5: Dominion Energy transaction benefits (cont'd)
Dominion Energy Transactions benefits (cont’d) Source of ✓ Source of efficient capital at attractive valuation efficient capital ▪ Significantly more accretive than external equity financing at current share price at attractive ▪ Transaction multiples compare favorably to valuations for publicly tra
Slide 6: Transaction summary: details by operating company
Dominion Energy Transactions summary Details by operating company $B East Ohio Gas¹ PSNC² Questar & Wexpro³ Total4 Implied transaction value: $6.6 $3.1 $4.3 $14.0 Assumed indebtedness: $2.3 $1.0 $1.3 $4.6 Purchase price: $4.3 $2.2 $3.0 $9.4 2022E rate base multiple5: 1.5x 1.7x 1.5x 1.5x 2023E P/E mu
Dominion Energy — Merger or Acquisition (September 2023) on 6ix