2015 NAPTP Investor Conference Orlando, Florida May 20-21, 2015
INVESTMENT HIGHLIGHTS Diverse portfolio of assets built through acquisitions and internal investment that deliver stable financial results despite volatile commodity markets o Predominantly fee-based cash flows from our…
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…
PIPELINE AND TERMINAL SYSTEM MAP Copyright 2015 Buckeye Partners, L.P. 5
DOMESTIC PIPELINES & TERMINALS OVERVIEW o 6,000 miles of pipeline with 110 delivery locations Pipeline Throughput Volumes (bpd in thousands) o More than 115 liquid petroleum product terminals o 55 million barrels of liquid…
GLOBAL MARINE TERMINALS OVERVIEW Buckeyes network of marine terminals facilitates global flows of liquid petroleum products and offers customers connectivity to some of the worlds most important bulk storage and blending hubs CARIBBEAN…
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,…
CRUDE OIL PRICING IMPACT AND DIVERSIFICATION Buckeyes business is predominantly fee-based; limiting impact of lower crude oil prices CRUDE OIL PRICING IMPACT CRUDE OIL DIVERSIFICATION Certainty of cash flows despite uncertainty in…
BUCKEYE TEXAS PARTNERS ACQUISITION OVERVIEW Transaction Overview Financial Benefits o Buckeye acquired 80% of the interests of a newly formed o 100% fee-based take-or-pay cash flows company, Buckeye Texas Partners (BTP), with…
STRATEGIC RATIONALE AND ASSET OVERVIEW Unique opportunity to acquire a midstream platform in the Gulf Coast with long-term committed revenues and significant opportunities for further growth Strategic Rationale Asset Overview (1) o…
SYSTEM COMPLETION Significant assets are in-service today with total expected investment of approximately 1.1 billion (1) Including completion of the first phase of the expansion of the assets and system integration Existing Assets…
GROWTH CAPITAL PROJECTS Large capital projects drive meaningful incremental contributions to our growth DOMESTIC PIPELINES & TERMINALS GLOBAL MARINE TERMINALS PROJECTS PROJECTS Texas Partners - Corpus Christi Open Season for…
INVESTMENT SUMMARY o Proven nearly 30-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…
N NON-GAAP RECONCILIATIONS
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…
NON-GAAP RECONCILIATIONS In millions, except coverage ratio 2011 2012 2013 2014 LTM(3) (1)(2) Adjusted EBITDA from continuing operations : Pipelines & Terminals 361.0 409.5 471.1 511.4 510.2 Global Marine Terminals 113.0 128.6…
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