Canadian Utilities (CU) Investor Presentation summary

Company overview and organizational structure

• Operates through ATCO Energy Systems, ATCO EnPower, and ATCO Australia, with a focus on regulated utilities and energy infrastructure.

• Maintains a global presence, including operations in Canada, Australia, Puerto Rico, and Mexico.

• Corporate structure includes joint ventures such as LUMA Energy (Puerto Rico) and Naka Power (NWT).

Financial performance and capital allocation

• Achieved $444 million in adjusted earnings YTD 2024, a 10% increase over the prior year.

• Cash flows from operating activities reached $1,392 million YTD 2024, supporting ongoing capital investments.

• Capital investment totaled $1,061 million YTD 2024, with a focus on long-term asset growth.

• Maintains a conservative balance sheet with $173 million in cash and $2.0 billion in available credit.

Growth drivers and market environment

• Alberta leads in GDP per capita and population growth, attracting over $152 billion in new major project investments.

• Strong macroeconomic and regulatory environment in Alberta supports energy transition and infrastructure investment.

• Industrial sector and residential heating in Alberta heavily rely on natural gas, underpinning demand.