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Veresen Announces 2015 Guidance and Common Share Dividend for December 2014

CALGARY, ALBERTA — (Marketwired) — 12/08/14 — Veresen Inc. (“Veresen” or “the Company”) (TSX: VSN) today announced guidance for 2015 and declared a cash dividend for December 2014.

2015 Guidance

Veresen is forecasting distributable cash in the range of $0.93 to $1.20 per Common Share for 2015. Based on an annualized dividend of $1.00 per Common Share for 2015, the corresponding payout ratio will range between 83 percent and 108 percent.

“Our 2015 guidance range reflects our expectation of continued solid operating performance from our portfolio of assets, the majority of which are supported by fee-for-service contracts, and the pending sale of our three U.S. gas-fired power plants. Our outlook for Aux Sable–s 2015 variable-based earnings is lower than our 2014 forecast as we anticipate that NGL prices will continue to be under pressure due to the oil price environment. Further, distributable cash from Aux Sable in 2014 included gains realized in the first quarter which we do not expect to recur in 2015,” said Don Althoff, President and CEO of Veresen.

“As we look to the year ahead, our strong balance sheet provides us with the financial flexibility to execute our growth strategy and deliver on our key priorities in 2015, including the re-contracting of the Alliance Pipeline, achieving key milestones for Jordan Cove LNG, and expanding our Midstream footprint in western Canada,” added Mr. Althoff.

For 2014, Veresen maintains its previously announced distributable cash guidance of $1.05 to $1.17 per Common Share. Further details concerning 2014 and 2015 guidance can be found at .

December Common Share Dividend

The Board of Directors of Veresen has declared a cash dividend of $0.0833 per common share. The dividend will be paid on January 23, 2015 to shareholders of record at the close of business on December 31, 2014. This dividend is designated an “eligible dividend” for Canadian income tax purposes.

The dividend is eligible to be reinvested by shareholders, at a 5% discount, in common shares of Veresen (“Common Shares”) under the dividend reinvestment component of the Premium Dividend and Dividend Reinvestment Plan of Veresen (“Plan”) to be held for their account under the Plan. Shareholders may have these additional Common Shares delivered to a designated plan broker in exchange for a premium cash payment equal to 102% of the reinvested amount under the Premium Dividend component of the Plan.

Registered shareholders of Veresen who have not previously enrolled in the Plan and wish to enroll in the Plan with respect to the December 2014 cash dividend and future cash dividends declared by Veresen, must deliver to Computershare Trust Company of Canada, as Plan Agent, a completed enrollment form which is available at , at or before 5:00 pm (ET) on December 23, 2014. A copy of the enrollment form may also be obtained by calling Computershare Trust Company of Canada at 1-800-564-6253, or from Veresen–s website at .

Beneficial shareholders of Veresen who have not previously enrolled in the Plan and wish to participate in the Plan with respect to the December 2014 cash dividend and future cash dividends declared by Veresen, should contact their broker, investment dealer, financial institution or other nominee to provide appropriate enrollment instructions and to ensure any deadlines or other requirements that such nominee may impose or be subject to are met.

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About Veresen Inc.

Veresen is a publicly-traded dividend paying corporation based in Calgary, Alberta, that owns and operates energy infrastructure assets across North America. Veresen is engaged in three principal businesses: a pipeline transportation business comprised of interests in three pipeline systems, the Alliance Pipeline, the Ruby Pipeline and the Alberta Ethane Gathering System; a midstream business which includes ownership interests in a world-class natural gas liquids extraction facility near Chicago, the Hythe/Steeprock complex, and other natural gas and NGL processing energy infrastructure; and a power business with a portfolio of assets in Canada and the United States. Veresen is also actively developing the Jordan Cove LNG terminal, a six million tonne per annum natural gas liquefaction facility proposed to be constructed in Coos Bay, Oregon, and the Pacific Connector Gas Pipeline. In the normal course of its business, Veresen regularly evaluates and pursues acquisition and development opportunities.

Veresen–s common shares, Series A Preferred Shares and Series C Preferred Shares are listed on the Toronto Stock Exchange under the symbols “VSN”, “VSN.PR.A” and “VSN.PR.C” respectively. For further information, please visit .

Forward-Looking Information

Certain information contained herein relating to, but not limited to, Veresen and its businesses, constitutes forward-looking information under applicable securities laws. All statements, other than statements of historical fact, which address activities, events or developments that Veresen expects or anticipates may or will occur in the future, are forward-looking information. Forward-looking information typically contains statements with words such as “will”, “may”, “estimate”, “anticipate”, “believe”, “expect”, “potential”, “plan”, “intend”, “target”, “project”, “forecast” or similar words suggesting future outcomes or outlook. Forward-looking statements in this news release include, but are not limited to, statements with respect to the forecasted distributable cash range for 2014 and 2015.Readers are also cautioned that such additional information is not exhaustive. The impact of any one risk, uncertainty or factor on a particular forward-looking statement is not determinable with certainty as these factors are independent and management–s future course of action would depend on its assessment of all information at that time. Although Veresen believes that the expectations conveyed by the forward-looking information are reasonable based on information available on the date of preparation, no assurances can be given as to future results, levels of activity and achievements. Undue reliance should not be placed on the information contained herein, as actual results achieved will vary from the information provided herein and the variations may be material. Veresen makes no representation that actual results achieved will be the same in whole or in part as those set out in the forward-looking information. Furthermore, the forward-looking statements contained herein are made as of the date hereof, and Veresen does not undertake any obligation to update publicly or to revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable laws. Any forward-looking information contained herein is expressly qualified by this cautionary statement.

Veresen Inc.
Dorreen Miller
Director, Investor Relations
(403) 213-3633

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