TransMontaigne Partners L.P. (NYSE TLP) National Association of Publicly Traded Partnerships 2015 Annual Investor Conference May 20-22, 2015
Overview Owns and operates refined petroleum Key Partnership Metrics product tank farms and pipelines. ( in millions) Fee-for-services business model with very NYSE: TLP little exposure to commodity prices. Market Cap1 : 520.3…
Area of Operations 4
Terminal Capacity Number of Active Shell Capacity Active Capacity Under Geographic Region Other Key Assets Terminals (Barrels) * Contract Gulf Coast 7 6,857,000 94% Midwest 4 1,584,000 100% Razorback Pipeline Brownsville ** 2 2,417,000…
Key Customer Relationships U.S. Government 6
Re-contracting / Customer Diversification TLP has diversified its customer base since the completion of Morgan Stanleys sale of our general partner to NGL on July 1, 2014. A year ago, 62% of our revenue was from Morgan Stanley, our…
Bostco Terminal Bostco is a newly constructed black oil terminal in the Houston Ship Channel with approximately 7.1 million barrels of capacity (Phase I and Phase II). TLP owns 42.5% of Bostco and Kinder Morgan owns 55%. TLPs…
Houston Ship Channel Refinery Complex Texass 26 petroleum refineries have a capacity of over 4.7 million barrels of crude oil per day and account for approximately 27 percent of total U.S. refining capacity. This capacity…
Recent Developments On May 4, 2015, we re-contracted approximately 2.7 million barrels of storage capacity at our Collins/Purvis terminals to Morgan Stanley Capital Group for a five year term. New agreement is effective January 1,…
Recent Developments (continued) Effective March 1, 2015, our Frontera joint venture re-contracted a large portion of its capacity at a throughput rate that is in excess of the throughput rate contained in the previous contract. The…
Recent Developments (continued) Effective February 26, 2015, we amended our bank credit facility. Extended the tenor by 2 years and 4 months bringing the maturity date to July 31, 2018. Upsized the committed amount by 50 million…
Growth Opportunities Collins storage terminal expansion. Butane blending at multiple locations. Bostco Phase III expansion. Available capacity at Florida and River terminals. Future projects in Brownsville. 13
Collins Storage Terminal Expansion The Collins storage terminal is a strategic and desirable location given its dual connectivity to both the Colonial and Plantation Pipelines and is the last injection point on the two pipelines to…
Financial Update 15
Consistent Performance Historical EBITDA Historical Leverage ( in millions) Distributable Cash Flow Capital Expenditures ( in millions) ( in millions) 16
Insulation from Commodity Price Volatility 17
Results of Operations Three Months Ended (in thousands) Mar. 31, June 30, Sept. 30, Dec. 31, Mar. 31, 2014 2014 2014 2014 2015 Revenue: Terminaling services fees 28,719 28,396 27,338 27,404 28,610 Pipeline transportation fees 693…
Structure of Terminaling Services Agreements Three Months Ended (in thousands) Mar. 31, June 30, Sept. 30, Dec. 31, Mar. 31, 2014 2014 2014 2014 2015 Firm commitments: Terminaling services fees: External customers 8,043 9,179 15,211…
Duration of Firm Commitments The remaining terms on the terminaling services agreements that generated firm commitments for the quarter ended March 31, 2015 were: At Mar. 31, 2015 Less than 1 year remaining 4,859 1 year or more, but…
Quarterly Distribution History (1 21
Distribution Coverage Three Months Ended (in thousands) Mar. 31, June 30, Sept. 30, Dec. 31, Mar. 31, 2014 2014 2014 2014 2015 Distributable cash flow 16,583 18,540 15,725 14,858 18,107 Total distributions 12,463 12,624 12,624…
Unit Performance Price Comparison (1) 23
Ownership Structure Public Unitholders NGL Energy Partners LP 100% Interest TransMontaigne LLC and Affiliates 79% 16% Interest Interest 100% Interest (Limited (Limited 2% Interest TransMontaigne GP L.L.C. Partner) Partner)…
Business Activities NGL is a Delaware limited partnership that owns and operates a vertically NGL Energy Partners LP integrated energy business with five primary businesses: water solutions, crude oil logistics, NGL logistics, refined…
Business Highlights Leading presence in six core geographic regions. High Quality, Focus on fee-based contracts with term commitments. Diversified Assets Diversified, high-quality industry customers. Limited direct commodity price…
Contact Information Frederick W. Boutin, Chief Executive Officer (303) 626-8215 fboutintransmontaigne.com Robert T. Fuller, Chief Financial Officer (303) 860-5324 rfullertransmontaigne.com www.transmontaignepartners.com 27
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