BB&T Capital Markets Coal Summit August 7, 2014 St. Louis, MO
NRP: A Diversified Resource Company 3
Business Overview Overview of NRP Revenues from NRPs Assets (2013) Own, manage and lease mineral properties across the U.S. 2.3 billion tons of coal reserves in three major coal producing basins 500 million tons of aggregate…
NRPs Diversified Revenue Stream Revenues have more than doubled since 2005 Revenues from sources other than coal related revenues Only 6% in 2005 32% in LTM 2Q2014 39% in 2Q2014 Also diversified within coal Reduced exposure to APP…
Goal Grow Distributions on a Sustainable Basis Strategy Comment 1 Continue to Diversify Further pursue both geographic as well as mineral diversification Business through Trona, oil and gas, frac sand provide Accretive Acquisitions…
Financial Strategy leads to Improving Statistics 6/30/2014 - 373 million Liquidity Allows NRP to continue to focus on diversified acquisitions Limited direct exposure to operating costs including Industry- environmental, permitting…
NRP - Key Investment Considerations Large, diverse and strategically located natural resource base More than 11 million mineral acres Coal, trona, oil and gas, aggregates, frac sand and other industrial minerals Disciplined…
Appendix 9
EBITDA Reconciliation (in thousands) LTM 2Q2014 Net income 147,119 Interest expense 74,190 DD&A 63,201 Impairments 5,624 DD&A from OCI 18,737 EBITDA 308,871 Revenues 347,851 EBITDA Margin 89% 10
Growing Investment in Aggregates / Industrial Minerals Business 500 million tons of aggregates in 13 states for NRP 15% of LTM 2Q2014 total revenues, but growing 52.8 million in revenues in the LTM period 2Q14 primarily derived from…
Diversification into Trona/Soda Ash Operations OCI Wyoming Overview U.S. Soda Ash Industry Dynamics OCI Wyoming produces trona and refines 2013 Consumers of Soda Ash into soda ash in Green River Basin of Flue Gas Distributors…
Oil and Gas Revenues Expected to Double in 2014 Oil and Gas Revenues from NRPs Assets Own, manage and lease oil and gas mineral properties in the U.S. Over 261,000 net leased oil, gas and CBM acres More than 1,300 producing wells…
Overview of NRPs Coal Business Diversified platform across the coal industry 5th largest owner of coal reserves in the U.S. 2.3 billion tons Strategically located in Appalachia, Illinois Basin, Western U.S., Gulf Coast Since 2005…
NRPs Illinois Basin Strategy NRPs ILB Strategy U.S. Thermal Coal Production Outlook Illinois Basin coal is well situated to increase market (millions of tons) 51% 199 share as Appalachia declines and export demand rises ILB 132…
Potential Upside From Existing Coal Assets NRP (in millions) 400 56 From 2011-2014 forecast NRP expects 350 54 coal related revenues to have decreased 300 52 by 120 mm 250 50 Much of decline has been attributable to 200 48…
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