Efficient Financing & Incremental Investment Opportunities
SOURCES AND USES
2021 2025 Financial Plan¹
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SI Proceeds²
$3B
Net Debt
Financing3
$9B - $12B
SI Proceeds
Deployment²
$2B - $3B
Dividends |
Distributions4
$7B- $8B
Operating
Cash Flows
$27B - $29B
Capex
$30B - $34B5
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HIGHLIGHTS
Strong, visible cash flows from operations provide significant support for
the 5-year financial plan
Sale of 20% interest in Sempra Infrastructure Partners to KKR²
Pursue sustainable financing opportunities to support Sempra's business
and sustainability strategy
Commitment to return cash to shareholders through growing dividend
Robust liquidity with only 27% of outstanding debt maturing before 20251
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The 5-year financial plan does not assume any new equity issuance to
fund the base capital plan
Sources
Uses
Robust financial plan through 2025, which could be adjusted based on changes in the economic environment
1. Values include non-GAAP consolidation of Oncor under Sempra Texas Utilities reflecting Sempra's 80.25% proportionate ownership. Oncor's financial plan is included for illustrative purposes only. Due to ring-financing measures, none of Oncor's assets are available to satisfy the
debts or obligations of any Sempra entity and Oncor's assets and liabilities are separate and distinct from those of any Sempra entity.
The ability to complete the transaction is subject to conditions to closing and a number of risks and uncertainties. Please refer to "Risk Factors" in our most recent Annual Report on Form 10-K and "Capital Resources and Liquidity" in our most recent Quarterly Report on Form 10-Q for
a description of the risks and other factors associated with this transaction.
Debt issuance net of principal repayment.
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5.
Includes distributions to noncontrolling interests, common and preferred dividends. The amount and timing of distributions to noncontrolling interests are dependent on financial performance and contractual terms. The amount and timing of dividends payable and the dividend policy
are at the sole discretion of the Sempra Board of Directors and, if declared and paid, dividends may be in amounts that are materially less than projected.
Actual amounts expended will depend on a number of factors and may differ materially from the amounts reflected in our 5-year capital plan for 2021-2025. Amounts represents expenditures for PP&E and investments. Represents our proportionate ownership share and includes
~$9.2B of capex that will be funded by unconsolidated entities, including equity interest in Oncor, Sharyland and our unconsolidated JVs.
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