2019-20 SaskEnergy Annual Report

Contents

5 6 7 8

CORPORATE PROFILE LETTER OF TRANSMITTAL MINISTER’S MESSAGE CHAIR’S MESSAGE

Management’s Discussion and Analysis PRESIDENT’S MESSAGE 11 FINANCIAL AND OPERATING HIGHLIGHTS 16 LOOKING BACK AT 2019-20 9 18 INTRODUCTION 18 STRATEGIC SCORECARD MEASURES 25 INDUSTRY OVERVIEW 27 CONSOLIDATED FINANCIAL RESULTS 35 LIQUIDITY AND CAPITAL RESOURCES 36 CAPITAL ADDITIONS 37 OUTLOOK 37 RISK MANAGEMENT AND DISCLOSURE 40 CRITICAL ACCOUNTING POLICIES AND ESTIMATES 42 ACCOUNTING POLICY CHANGES

Consolidated Financial Statements

44 MANAGEMENT’S RESPONSIBILITY FOR FINANCIAL STATEMENTS 45 MANAGEMENT’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING 46 INDEPENDENT AUDITOR’S REPORT 48 CONSOLIDATED STATEMENT OF FINANCIAL POSITION 49 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 50 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 51 CONSOLIDATED STATEMENT OF CASH FLOWS 52 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corporate Governance

83 BOARD OF DIRECTORS 89 EXECUTIVE COMMITTEE 92 CORPORATE GOVERNANCE DISCLOSURE 101 STAKEHOLDER ENGAGEMENT 103 SUPPLEMENTARY INFORMATION 105 GLOSSARY OF KEY SUCCESS MEASURES 108 GLOSSARY OF NATURAL GAS MEASUREMENTS 109 SASKATCHEWAN NATURAL GAS TRANSMISSION LINES

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