Forward-Looking Statements Statements we make that are not historical facts are forward-looking statements. These forward-looking statements are not guarantees of future performance. Although we believe the assumptions underlying these…
Sunoco Logistics Assets 3
Sunoco Logistics and Energy Transfer Assets 4
Energy Transfer Family of Companies 5
1Q13 Highlights g Record quarterly performance: 0 236 million Adjusted EBITDA 0 195 million Distributable Cash Flow (DCF) g 5% distribution increase (quarter over quarter): 0 2.18/unit to 2.29/unit (annualized) 0 34% increase over…
Distribution History Average Annual Paid Distribution (per LP unit) LP/GP Split (%) g Second consecutive 5% quarter over 50/50 quarter distribution 2.11 increase 02.18 to 2.29 annualized 63/37 g 32 consecutive quarterly…
EBITDA by Segment (MM) 2008 2012 Crude Oil Pipeline System Crude Oil Pipeline System Crude Oil Acquisition and Marketing Crude Oil Acquisition and Marketing Terminal Facilities Terminal Facilities Refined Products Pipeline System…
Adjusted EBITDA: Ratable and Market Related Maximize asset base by 810 taking advantage of market opportunities 573 Distributions based on 372 399 ratable cash 319 Market related cash flow increases coverage ratio…
Major Organic Projects g Successful Open Seasons: 0Three West Texas Crude expansion projects (crude oil) 0Permian Express Phase I (crude oil) 0Allegheny Access (refined products) 0Mariner West (natural gas liquids) 0Mariner East…
Organic Growth Capital g Optimize current asset base 700 600 Invest in organic extensions Investment (MM) g 500 g Organic Projects: 400 0West Texas Crude Projects 300 200 0Permian Express 100 0Mariner Projects 0 2008 2009…
Original 110 MB/D West Texas Expansion Crude Oil g West Texas Crude Expansion: 0 Strong demand for takeaway capacity out of the Permian Basin 0 Existing crude pipeline 0 Multiple destinations 0 3 Successful Open Seasons Houston…
Permian Express Crude Oil g Additional West TX Crude Expansion: 0 Continued strong demand for takeaway capacity out of the Permian Basin 0 Phase I: Successful Open Season Wichita Falls to Nederland Permian Express I Permian Crude…
Allegheny Access Refined Products g Midwest products to Eastern Ohio Allegheny Access and Western Pennsylvania: Ohio Products to Pittsburgh 0 Strong demand to move Midwest refined products east Refinery expansions Refinery…
Mariner West and East Natural Gas Liquids Mariner West Ethane from Houston to Sarnia Mariner East E/P from Houston to Marcus Hook 15
Mariner West and East Details g Comprehensive Marcellus Shale Pipeline Solution 0Strong demand for NGL takeaway capacity out of the Marcellus 0Successful Open Seasons for both West and East 0Fee-based income 0Primarily existing…
Marcus Hook Natural Gas Liquids g Acquired from Sunoco, Inc. 60MM g Continued commitment to growth in natural gas liquids g Anchors the Mariner East project g Located near the Marcellus and Utica shales, the site offers many…
Mariner South Natural Gas Liquids g Export NGLs from Gulf Coast: 0 Joint project between SXL and Lone Star (ETP/RGP) Mariner South NGLs from Mont Belvieu to Nederland 0 Project originates at Lone Stars fractionation facility in…
Eaglebine Express Crude Oil g Approximately 60MB/D of takeaway capacity from the Eaglebine Express Eaglebine and Woodbine Eaglebine / Woodbine Crude to Nederland shale at Hearne to Nederland g Existing MagTex pipeline 0 Magtex…
Recent Acquisitions East Boston Products Terminal Inland Pipeline (84% interest) Eagle Point Tank Farm Texon Crude Business w/ exposure to shales in: Bakken, Granite Wash, Permian & Eagleford Marcus Hook Industrial Complex…
Summary g Geographically diverse asset base and strong business fundamentals g Commitment to Investment Grade credit rating g Flexible capital structure to support growth and distribution coverage g Experienced management team g…
Appendix
2008 2012 Adjusted EBITDA (Prior Definition) A-1
Adjusted EBITDA Definition Category Prior Definition New Definition Proportionate share of Unconsolidated Recorded at SXL's Recorded at SXL's Affiliates' (JV) interest, depreciation ownership share of JV's ownership share of JV's andd…
2008 2012 Adjusted EBITDA (New Definition) A-3
Distributable Cash Flow (DCF) Definition Category Prior Definition New Definition Distributions versus Adjusted No Adjustment Subtract Adjusted EBITDA; EBITDA of Unconsolidated add cash dividends Affiliates (JVs) (1) received…
2008-2012 DCF (New Definition) (1) Excludes non-cash amortization of fair value adjustment on long-term debt (6 million in 2012) A-5
SXL Non-GAAP Financial Measures (MM) Twelve Months Ended December 31, 2008 2009 2010 2011 2012 Net Income 214 250 348 322 531 I t Interest t expense, nett 31 45 73 89 79 Depreciation and amortization expense 40 48 64 86 139…
Capitalization (MM) As of 3/31/13 Debt (1) Senior Notes, net 2,148 fixed (2) j , net Unamortized fair value adjustments, 137 350 MM SXL Revolver (matures August 2016) - floating 200 MM SXL Revolver (matures August 2013) -…
Debt to Adjusted EBITDA 3.5x 3.x 2.5x 2.x 1.5x 12/31/2008 12/31/2009 12/31/2010 12/31/2011 12/31/2012 3/31/2013 Note: Adjusted EBITDA reflects last twelve months for the period ended. Total Debt at 12/31/12 and…
Debt to Adjusted EBITDA December 31, March 31, (MM) 2008 2009 2010 2011 2012 2013 Debt to Adjusted EBITDA Ratio Total Debt 748 868 1,229 1,698 1,732 2,318 (1) Less: Unamortized FV adjustments, net - - - - 143 137 748 868 1,229 ,…
Revolver Credit Facilities (MM) 350MM 200MM 35MM Facility Facility Facility Total Lender Allocation Allocation Allocation Allocation Citibank 30.0 18.0 0.0 48.0 Barclays Bank 30.0 18.0 0.0 48.0 Goldman Sachs Bank USA 25.0 0.0 0.0…
Crude Oil Pipeline System g 34% of total EBITDA for the year ended December 31, 2012 g Approximately 4 4,900 900 miles of crude oil trunk lines located in the Southwest and Midwest U.S. 0Approximately 500 miles of gathering lines g…
Crude Oil Acquisition and Marketing g 29% of total EBITDA for the year ended December 31, 2012 g Crude truck fleet of approximatelyy 250 trucks g Purchase crude oil at the wellhead from producers and in bulk from aggregators at major…
Terminal Facilities g 28% of total EBITDA for the year ended December 31, 2012 g Nederland, TX Crude Oil Terminal - One of the largest onshore crude facilities in U.S. 022 million barrel capacity currently g Eagle Point, NJ Crude Oil and…
Refined Products Pipeline System J 9% of total EBITDA for the year ended December 31, 2012 J Refined products pipeline system (approximately 2 2,500 500 miles) miles), located in the Northeast, Midwest and Southwest U.S. J Equity…
Acquisition History (1.4B Since IPO) November 2002 g Joint-venture interests in 3 refined product pipelines from Unocal, for 54MM 0Wolverine (31.5%), West Shore (9.2%), and Yellowstone (14.0%) November 2002 g 43 8% joint-venture 43.8%…
Acquisition History (1.4B Since IPO), Continued November 2008 g Texas refined products pipeline system and terminal facilities from ExxonMobil for 186MM September 2009 g Oklahoma crude oil pipeline from Excel Pipeline LLC and Romulus,…
Sunoco Logistics Partners L.P. March 31, 2013 Energy Transfer Partners, L.P. (Formed 4/17/1996) (Master Limited Partnership NYSE: ETP) CUSIP No.: No : 29273R 10 9 100.00% Sunoco Partners LLC (General Partner Acquired by…
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