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Citi MLPMidstream Infrastructure Conference – Buckeye Partners Lp

Buckeye Partners Lp · Aug 20, 2014 · 17 slides

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Slides

  1. Citi MLPMidstream Infrastructure Conference – Buckeye Partners Lp – slide 1
    Citi MLP/Midstream Infrastructure Conference Las Vegas, NV August 20-21, 2014
  2. Citi MLPMidstream Infrastructure Conference – Buckeye Partners Lp – slide 2
    INVESTMENT HIGHLIGHTS o Over 125 years of continuous operations, with a 27-year track record as a publicly traded MLP on the NYSE oPaid cash distributions each quarter since formation in 1986 o Lower cost of capital realized from…
  3. Citi MLPMidstream Infrastructure Conference – Buckeye Partners Lp – slide 3
    ORGANIZATIONAL OVERVIEW Three Business Operating Units Buckeye owns and operates a diversified network of integrated assets providing midstream logistic solutions Domestic Pipelines & Terminals LTM(1) Adjusted EBITDA One of the…
  4. Citi MLPMidstream Infrastructure Conference – Buckeye Partners Lp – slide 4
    PIPELINE AND TERMINAL SYSTEM MAP Copyright 2014 Buckeye Partners, L.P. 5
  5. Citi MLPMidstream Infrastructure Conference – Buckeye Partners Lp – slide 5
    DOMESTIC PIPELINES & TERMINALS OVERVIEW o 6,000 miles of pipeline with 110 delivery locations Pipeline Throughput Volumes (bpd in thousands) o 115 liquid petroleum product terminals 1,385.6 1,426.4 1,415.8 1,316.4 1,358.1…
  6. Citi MLPMidstream Infrastructure Conference – Buckeye Partners Lp – slide 6
    GLOBAL MARINE TERMINALS OVERVIEW Buckeyes network of marine terminals enables it to facilitate global flows of liquid petroleum products and offer customers connectivity to some of the worlds most important bulk storage and blending…
  7. Citi MLPMidstream Infrastructure Conference – Buckeye Partners Lp – slide 7
    BUCKEYE SERVICES OVERVIEW Merchant Services Development & Logistics o Provides valuable market insight and transparency to our o Operates or maintains third-party pipelines under logistics businesses agreements with major oil and gas,…
  8. Citi MLPMidstream Infrastructure Conference – Buckeye Partners Lp – slide 8
    CRUDE OIL DIVERSIFICATION Buckeye is successfully leveraging its assets to provide crude oil logistics solutions to producers and refiners wherever possible Perth Amboy St. Lucia o Crude by rail capability to be completed Q3 2014 o 9…
  9. Citi MLPMidstream Infrastructure Conference – Buckeye Partners Lp – slide 9
    HESS TERMINALS ACQUISITION Unique opportunity to acquire a collection of terminals that are highly complementary with Buckeye's existing operations and enhances Buckeye's vision of creating a world-class, integrated terminal network…
  10. Citi MLPMidstream Infrastructure Conference – Buckeye Partners Lp – slide 10
    GROWTH CAPITAL PROJECTS Over 6 billion invested in acquisitions and internal growth capital projects since 2008 DOMESTIC PIPELINES & TERMINALS Chicago ComplexProjected investment 100 million Hartsdale Crude Tanks and Pipeline o 1.1…
  11. Citi MLPMidstream Infrastructure Conference – Buckeye Partners Lp – slide 11
    GROWTH CAPITAL PROJECTS GLOBAL MARINE TERMINALS BORCOInvested 390 million since acquisition Perth AmboyInvested 200 million since acquisition Tank Expansion 4.7 million barrels Rail Capability o 1.2 million barrels of crude oil…
  12. Citi MLPMidstream Infrastructure Conference – Buckeye Partners Lp – slide 12
    FINANCIAL OVERVIEW
  13. Citi MLPMidstream Infrastructure Conference – Buckeye Partners Lp – slide 13
    FINANCIAL PERFORMANCE Adjusted EBITDA (in millions)(1)(2) Cash Distribution Coverage Ratio(1)(2)(3) 674.2 1.03x 1.04x 648.8 0.99x 0.91x 559.5 0.87x 487.9 382.6 2010 2011 2012 2013 LTM 2013 2010 2011 2012 LTM Cash…
  14. Citi MLPMidstream Infrastructure Conference – Buckeye Partners Lp – slide 14
    INVESTMENT SUMMARY o Proven 27-year track record as a publicly traded partnership through varying economic and commodity price cycles o Stable fee-based cash flows derived from throughput volumes, tariffs and terminalling and…
  15. Citi MLPMidstream Infrastructure Conference – Buckeye Partners Lp – slide 15
    NON-GAAP RECONCILIATIONS
  16. Citi MLPMidstream Infrastructure Conference – Buckeye Partners Lp – slide 16
    NON-GAAP FINANCIAL MEASURES Adjusted EBITDA and distributable cash flow are measures not defined by GAAP. Adjusted EBITDA is the primary measure used by our senior management, including our Chief Executive Officer, to (i) evaluate our…
  17. Citi MLPMidstream Infrastructure Conference – Buckeye Partners Lp – slide 17
    NON-GAAP RECONCILIATIONS In millions, except coverage ratio 2010 2011 2012 2013 LTM(3) (1)(2) Adjusted EBITDA from continuing operations : Pipelines & Terminals 346.4 361.0 409.5 471.1 490.5 Global Marine Terminals (4.7) 113.0…

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