Financial Framework and Capital Discipline
Why Invest In Keyera?
Compelling Risk-Adjusted Returns
ESG Focused
Emissions on intensity
and absolute basis
lowered by 12% and
4% from 2019 to 2021
Emissions Reduction
Target: 25% and 50%
by 2025 and 2035 from
2019 levels
Compensation tied to
ESG Performance
Disclosures aligned
with internationally
recognized standards
Financial
Strength
Low leverage of
2.5x1 net
debt/adjusted
EBITDA 2,3 at the end
of Q3/23
Investment Grade
Credit Ratings
Available liquidity of
$1.051 billion at the end
of Q3/23
All term debt at fixed
interest rate
Dividend
Sustainability
Dividend sustainability
underpinned by
financial strength
Payout ratio² target of
50-70% of DCF2
Dividend growth
supported by growth in
stable long-term fee-
for-service cash flow
High-Quality
Assets
Value Creation
Track Record
High barrier-to-entry
assets with access to
highest value
markets
Integrated value chain
maximizes margins
Accelerating the use
of technology and
innovation
Clearly defined
financial framework
and capital allocation
priorities4
Avg. 5-year ROIC²: 15%
FY22 ROIC: 16% 2,5
CAGR of 7% for DCF2
and 6% for
dividends 2,6 on a per
share basis since 2008
STRONG FOCUS ON TOTAL SHAREHOLDER RETURN
See slide 22 for notes regarding this slide
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