FirstEnergy Conference “Emerging Resources” David G. Smith November 2013
Forward-Looking Information In the interests of providing Keyera Corp. (“Keyera” or the “Company”) shareholders and potential investors with information regarding Keyera, including Management’s assessment of future plans and operations relating to the Company, this document contains certain statements and information that are forward-looking statements or information within the meaning of applicable securities legislation, and which are collectively referred to herein as “forward -looking statements". Forward-looking statements in this document include, but are not limited to statements and tables (collectively “statements”) with respect to: capital projects and expenditures; strategic initiatives; anticipated producer activity and industry trends; and anticipated performance. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, as well as known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur and which may cause Keyera’s actual performance and financial results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by the forward-looking statements. These assumptions, risks and uncertainties include, among other things: Keyera’s ability to successfully implement strategic initiatives and whether such initiatives yield the expected benefits; future operating results; fluctuations in the supply and demand for natural gas, NGLs, crude oil and iso- octane; assumptions regarding commodity prices; activities of producers, competitors and others; the weather; assumptions around construction schedules and costs, including the availability and cost of materials and service providers; fluctuations in currency and interest rates; credit risks; marketing margins; potential disruption or unexpected technical difficulties in developing new facilities or projects; unexpected cost increases or technical difficulties in constructing or modifying processing facilities; Keyera’s ability to generate sufficient cash flow from operations to meet its current and future obligations; its ability to access external sources of debt and equity capital; changes in laws or regulations or the interpretations of such laws or regulations; political and economic conditions; and other risks and uncertainties described from time to time in the reports and filings made with securities regulatory authorities by Keyera. Readers are cautioned that the foregoing list of important factors is not exhaustive. The forward- looking statements contained in this document are made as of the date of this document or the dates specifically referenced herein. For additional information please refer to Keyera’s public filings available on SEDAR at www.sedar.com. All forward-looking statements contained in this document are expressly qualified by this cautionary statement. 2
About Keyera (TSX:KEY) • Disciplined approach to value creation • Strategically positioned assets • Fee-for-service focus • Proven operational expertise 22% $900 + MM 8.1% Compound annual CAGR 2 in dividends Estimated Growth Capital TSR 1 for 2013/2014 3 per share 2 From 07/15/2003 to 09/30/13 1 From 05/30/03 to 09/30/13 3 Assuming timely receipt of approvals and no construction delays Exciting Growth Opportunities Tied to our Integrated Business Lines 3
Producers Need an Integrated Solution * Includes intersegment transactions. See Keyera’s Third Quarter 2013 MD&A for a definition of Operating Margin. Infrastructure and Market Access are Key to Unlocking Value 4
Strategically Located Facilities MONTNEY Keyera’s Gathering and Processing Business Unit • Well maintained, long-life facilities • Extensive capture area DUVERNAY – ~ 4,000km gas gathering system • Gathering and processing solutions can be linked to NGL fractionation and marketing alternatives CARDIUM GLAUCONITE Processing Liquids-Rich Gas in the Right Locations 5
Southern Duvernay – Significant Infrastructure in Place Today • Keyera is well positioned – 10 plants (1.9 bcf/d processing capacity) and liquids recovery) – Extensive gathering systems in place • Full fractionation at Rimbey plant – 400 mmcf/d turbo being installed • Access to Edmonton/ Fort Saskatchewan market via pipeline from Rimbey • Ethane from Rimbey to Alberta Ethane Gathering System (AEGS) pipeline • 50% ownership in Bonnie Glen oil / condensate pipeline to Edmonton Sources: Peters & Co. Limited ,geoSCOUT. Can the Duvernay be Accelerated to Take Advantage of Existing Infrastructure? 6
Northern Duvernay - Needs Significant Infrastructure Buildout Simonette / Kaybob Area • Keyera Simonette gas plant is a 150 MMcf/d sour gas plant • New plant modifications underway will add 100 MMcf/d of processing capacity and improve condensate handling • Constructing 90-km Wapiti pipeline system (12-inch sour gas pipeline and 6-inch condensate pipeline) • Possible future expansions for additional capacity or deep-cut extraction under review Sources: Peters & Co. Limited ,geoSCOUT. Keyera Progressing a Number of Infrastructure Growth Projects 7
Expanding NGL Infrastructure to Accommodate Liquids-Rich Drilling Keyera’s Liquids Business Unit • NGL Infrastructure : – 80,000 bbls/d of fractionation capacity at 5 locations – Rail & truck handling facilities at 19 Locations, including a 1,500+ rail car fleet (3 major terminals under construction) – 11.4 million barrels of underground storage at 12 caverns plus >300,000 barrels of above ground storage • Marketing: – Utilizing Keyera’s integrated facilities and logistics expertise to move spec products to markets across North America Adding Capacity and New Services to a Strong Foundation of Assets 8
Providing Customers with Significant Receipt and Delivery Flexibility Keyera’s Fort Saskatchewan Condensate System Keyera is Part of the Largest, Most Liquid Condensate Hub in Western Canada 9
Disciplined Growth Builds Strong Cash Flow ACT Future Enhancing NGL Norlite Diluent Pipeline Alberta Liquids Pipeline Expansion Recoveries at Gas Plants to Oilsands System (ALPS) Simonette New Gas South Cheecham New Rail Hull, Texas Terminals Terminal Expansion Future Expansion Gathering Pipelines Expansion Future Storage Hull, Texas Alberta Crude New Gas NGL Fractionator Caverns Terminal Refurbishment Terminal Gathering Pipelines Expansions 4 th Brine KFS Rimbey Wapiti Pipelines Simonette Strachan Sulphur (2 x 90km) Modifications Pond Expansion De-ethanizer Turbo Expander 13 th and 14 th 12 th Storage New Gas South Cheecham Rail Delivering Storage Caverns Gathering Pipelines Cavern and Truck Terminal Iso-Octane by Rail Kearl Contract - Diluent Turbo Expander at Alberta Diluent Terminal Alberta EnviroFuels and Solvent Handling Strachan and MBL (ADT) 24/7 Operations (AEF) 2012 Acquisition Under Evaluation Under Development Operational 10
Focused strategy, disciplined approach 2014 growth Track record of plans to be steady value largest in creation Keyera’s history KEY to success Stable cash Positioned to flows with benefit from demonstrated liquids-rich gas growth production Positioned to capitalize on growth in oil sands activities 11
For Further Information Contact: John Cobb Vice-President, Investor Relations or Julie Puddell Manager, Investor Relations 888-699-4853 ir@keyera.com Keyera Corp. 600, 144 – 4 Avenue SW Calgary, Alberta T2P 3N4 WWW.KEYERA.COM
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