Investor Presentation January 2024
Why Invest In Keyera?
Compelling Risk-Adjusted Returns
Strong ESG
Performance
Emissions¹ on intensity
and absolute basis
lowered by 13.5% and
6% from 2019 to 2022
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 2.5x
net debt/adjusted
EBITDA2,3 at the end
of Q3/23
Investment Grade
Credit Ratings
Available liquidity of
$1.05 billion at the end
of Q3/23
All term debt at fixed
interest rate
Sustainable
Dividend
Growth
Dividend sustainability
underpinned by
financial strength
Payout ratio² target of
50-70% of
distributable cash
flow (DCF)2
Dividend growth
supported by growth in
stable long-term fee-
for-service cash flow
High-Quality
Assets
Value Creation
High barrier-to-entry
assets with access to
highest value
markets
Integrated value chain
maximizes margins
Accelerating the use
of technology and
innovation
Track Record
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 21 for notes regarding this slide
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