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NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P.

Sunoco Logistics Partners L.P. · Nov 10, 2014 · 42 slides

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Slides

  1. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 1
    Sunoco Logistics Partners L.P. NYSE SXL November 2014
  2. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 2
    Sunoco Logistics Assets 3
  3. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 3
    Sunoco Logistics and Energy Transfer Assets 4
  4. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 4
    Energy Transfer Family of Companies ENERGY TRANSFER EQUITY, L.P. (NYSE: ETE) LP Interest, GP Interest, IDRs, Class H Units(1) LP Interest, GP Interest, IDRs ENERGY TRANSFER LP Interest, GP Interest, IDRs REGENCY ENERGY PARTNERS,…
  5. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 5
    Recent Highlights Strong Third Quarter Performance: 246MM Adjusted EBITDA 2nd highest quarter ever 194MM Distributable Cash Flow 2014 YTD Financing: Successfully completed 1.0 billion of debt financing in April Completed 362MM…
  6. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 6
    Recent Highlights 2 Additional Successful Open Seasons: Mariner East 2 Permian Longview & Louisiana Extension Capital: 2015 organic expansion capital guidance at 2 billion 2014 updated organic expansion capital guidance of 2.5…
  7. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 7
    EBITDA by Segment (MM) 2009 2010 2011 2012 2013 Crude Oil Pipeline System 147 156 207 275 349 Crude Oil Acquisition and Marketing 46 39 148 239 233 Terminal Facilities 105 127 149 225 233 Refined Products Pipeline System 74 77 69 71 56…
  8. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 8
    Adjusted EBITDA: Ratable and Market Related Maximize asset base by 1,000 871 taking advantage of 900 810 market opportunities 800 700 Adjusted EBITDA (MM) 600 573 Distributions based on 500 399 ratable cash 400 372…
  9. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 9
    Major Organic Projects 13 Successful Open Seasons: 3 West Texas Crude expansion projects (crude oil) Permian Express 1 (crude oil) Permian Express 2 (crude oil) Eaglebine Express (crude oil) Granite Wash Extension (crude oil)…
  10. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 10
    Scheduled Project Start-up 11
  11. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 11
    Organic Expansion Capital 2,500 2,000 Investment (MM) 1,500 1,000 500 0 2009 2010 2011 2012 2013 2014P 2015P Organic Expansion Capital 12
  12. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 12
    Acquisitions 600 500 Investment (MM) 400 300 200 100 0 2009 2010 2011 2012 2013 2014* Acquisition Capital *SXL does not comment on future acquisitions *Includes the acquisition of an additional 3.9% interest in…
  13. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 13
    Original 110 MB/D West Texas Expansion Crude Oil West Texas Crude Expansion: Strong demand for takeaway capacity out of the Permian Basin Existing crude pipeline Multiple destinations 3 Successful Open Seasons Houston Access 40…
  14. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 14
    Permian Express Crude Oil Additional West TX Crude Expansion: Continued strong demand for takeaway capacity out of the Permian Basin PE 1: Successful Open Season Wichita Falls to Nederland Existing pipeline Permian Express 1…
  15. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 15
    Eaglebine Express Crude Oil 60MB/D of takeaway capacity from the Eaglebine Eaglebine Express Eaglebine / Woodbine Crude to Nederland and Woodbine shale at Hearne to Nederland Existing MagTex pipeline MagTex acquired in 2008…
  16. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 16
    Granite Wash Extension Crude Oil 70MB/D of takeaway capacity from the Granite Wash Shale to Ringgold Ability to ultimately connect to multiple SXL and 3rd party pipelines Provides access to multiple markets 200 miles of new…
  17. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 17
    Longview & Louisiana Extension Crude Oil 100MB/D of additional takeaway capacity from the Permian Basin at Midland Provides access to multiple markets in Texas & Louisiana Combination of proprietary and 3rd party pipelines…
  18. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 18
    Delaware Basin Extension Crude Oil 100MB/D of takeaway capacity from the Delaware Basin area Multiple origin points in New Mexico and West Texas 125 miles of new pipeline providing delivery into Midland, TX Expected to be…
  19. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 19
    Allegheny Access Refined Products Midwest products to Eastern Ohio Allegheny Access and Western Pennsylvania: Ohio Products to Pittsburgh Strong demand to move Midwest refined products east Refinery expansions Refinery…
  20. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 20
    Mariner West and East Natural Gas Liquids Mariner West Mariner East 1 Ethane from Houston to Sarnia E/P from Houston to Marcus Hook Mariner East 2 NGLs from Shales to Marcus Hook 21
  21. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 21
    Mariner West and East Details Comprehensive Marcellus Shale Pipeline Solution Strong demand for NGL takeaway capacity out of the Marcellus Successful Open Seasons for Mariner West and both Mariner East 1 & 2 Marcus Hook Industrial…
  22. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 22
    Marcus Hook Natural Gas Liquids Acquired from Sunoco, Inc. 60MM Continued commitment to growth in natural gas liquids Foundation of Mariner East Located near the Marcellus and Utica shales, the site offers many features: Five…
  23. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 23
    Mariner South Natural Gas Liquids Export NGLs from Gulf Coast: Joint project between SXL and Mariner South Lone Star (ETP/RGP) NGLs from Mont Belvieu to Nederland Project originates at Lone Stars fractionation facility in Mont…
  24. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 24
    Capitalization (MM) As of 9/30/14 Debt Senior Notes, net 2,975 fixed Unamortized fair value adjustments, net(1) 105 1.5 B SXL Revolver (matures November 2018)(2) 525 floating 35 MM WTG Revolver (matures April 2015) 35 floating…
  25. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 25
    Debt Maturity Schedule at 9/30/2014 (MM) 750 700 675 600 525 450 375 350 350 300 300 300 300 250 250 225 175 150 75 6.13% 5.50% 4.65% 3.45% 4.25% 6.85% 6.10% 4.95% 5.30% 0 '16 - '20 '21 '22 '23 '24 - '40 '41 '42 '43…
  26. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 26
    Debt to Adjusted EBITDA December 31, (MM) 2009 2010 2011 2012 2013 Debt to Adjusted EBITDA Ratio Total Debt 868 1,229 1,698 1,732 2,503 Less: Unamortized FV adjustments, net(1) - - - 143 120 868 1,229 1,698 1,589 2,383 Adjusted…
  27. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 27
    1.5 Billion Revolving Credit Facility (MM) Facility Facility 100MM Lenders Allocation 40.5MM Lenders Allocation (1) 100.0 Bank of Nova Scotia 40.5 Citibank Barclays Bank 100.0 BNP Paribas 40.5 Bank of Tokyo-Mitsubishi UFJ 100.0…
  28. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 28
    Summary Geographically diverse asset base and strong business fundamentals Commitment to Investment Grade credit rating Flexible capital structure to support growth and distribution coverage Experienced management team…
  29. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 29
    Appendix
  30. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 30
    SXL Non-GAAP Financial Measures (MM) 31
  31. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 31
    Historical Financial Results (MM) 2009 2010 2011 2012 2013 Crude Oil Pipelines 147 156 207 275 349 Crude Oil Acquisition & Marketing 46 39 148 239 233 Terminal Facilities 105 127 149 225 233 Refined Products Pipelines 74 77 69 71…
  32. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 32
    Joint Venture Ownership Consolidated JV's: West Texas Gulf Mid-Valley Inland SXL 60.3% SXL 91.0% SXL 83.8% Chevron 28.3% Chevron 9.0% Citgo 16.2% Citgo 11.4% Equity Interest JV's: Explorer* West Shore Wolverine** Yellowstone…
  33. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 33
    Crude Oil Pipeline System 40% of total EBITDA for the year ended December 31, 2013 Approximately 4,900 miles of crude oil trunk lines located in the Southwest and Midwest U.S. Approximately 500 miles of gathering lines 60.3%…
  34. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 34
    Crude Oil Acquisition and Marketing 27% of total EBITDA for the year ended December 31, 2013 Crude truck fleet of approximately 300 trucks Purchase crude oil at the wellhead from producers and in bulk from aggregators at major…
  35. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 35
    Terminal Facilities 27% of total EBITDA for the year ended December 31, 2013 Nederland, TX Crude Oil Terminal - One of the largest onshore crude facilities in U.S. 22 million barrel capacity currently Eagle Point, NJ Crude Oil and…
  36. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 36
    Refined Products Pipeline System 6% of total EBITDA for the year ended December 31, 2013 Refined products pipeline system (approximately 2,500 miles), located in the Northeast, Midwest and Southwest U.S. Equity interest in four…
  37. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 37
    10 Consecutive Quarters of 5% Distribution Growth Guidance 5% quarter over quarter increases in 2014 Note: Values adjusted for the two-for-one unit split completed on June 12, 2014 38
  38. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 38
    Distribution History Average Annual Distribution (per LP unit) LP/GP Split (%) 2.00 10 consecutive quarter over quarter distribution increases 1.50 1.53 50/50 of 5% 38 consecutive 1.06 1.00 quarterly distribution…
  39. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 39
    Acquisition History (1.5B Since IPO) November 2002 Joint-venture interests in 3 refined product pipelines from Unocal, for 54MM Wolverine (31.5%), West Shore (9.2%), and Yellowstone (14.0%) November 2002 43.8% joint-venture interest…
  40. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 40
    Acquisition History (1.5B Since IPO), Continued September 2009 Oklahoma crude oil pipeline from Excel Pipeline LLC and Romulus, MI refined products terminal facility from R.K.A. Petroleum LLC for an aggregate 50MM July 2010 Butane…
  41. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 41
    SXL Key Financial and Operating Statistics 2010 2011 2012 2013 2014 Total Total 1st 2nd 3rd 4th Total 1st 2nd 3rd 4th Total 1st 2nd 3rd Total Financial highlights (in millions) Sales and other operating revenue Crude Oil…
  42. NOVEMBER 2014 CORPORATE PRESENTATION – Sunoco Logistics Partners L.P. – slide 42
    SXL Key Financial and Operating Statistics 2010 2011 2012 2013 2014 Total Total 1st 2nd 3rd 4th Total 1st 2nd 3rd 4th Total 1st 2nd 3rd Total Reconciliation of Segment Operating Income to Net Income Attributable to Sunoco Logistics…

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