Granite's Evolution
FINANCIAL PERFORMANCE
Historical Operating Performance ($M)²
$340
$274
$265
$245
$248
$223
$216
$214
$204
$188
$187
$183
$181
$185
$173
$162
$154
$158
$145
$138
$394
Distributions and Payout Ratios 1,2
71%
91%
82%
81%
80%
77%
75%
3.10
79%
73%
78%
78%
3.00
$299
71%
2.90
2.80
68%
68%
2.72
2.60
$235
$216
2.43
2.30
2.21
2014
2015
2016
2017
2018
2019
2020
2021
2014
2015
Revenue
Adj. EBITDA Adj. FFO
2016
2017
2018
2019
2020
2021
2022F
FFO Payout %
AFFO Payout %
I Distributions per Unit
Consistent annual revenue and FFO growth. Distribution increase of 3.3% announced for 2022.
1 2019 Distributions excludes the special distribution paid in January 2019 of $1.20 per unit.
2 For definitions of Granite's non-IFRS performance measures and non-IFRS ratios, refer to Appendix A and B on page 23 and 24.
March 2022
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