NAPTP MLP Investor Conference 2015 May 20 - 22, 2015
Tallgrass Energy Asset Overview Two operating partnerships with distinct functions make up the Tallgrass platform TDEV Tallgrass Development (Private) TEP Tallgrass Energy Partners (NYSE:TEP) ASSET INCUBATOR LONG-TERM OPERATING VEHICLE…
Summary Ownership Structure TEP Owners LP Ownership % Public 55% TDEV 11% Tallgrass Equity 34% Management, Kelso Tallgrass Equity Ownership % & EMG (1) Public (TEGP) 30% Management 17% Class B Kelso & EMG 53% Shares…
Tallgrass Energy Accomplishments TEGP IPO TMID Keep Revolver Whole Contract Upsize to Conversion 850mm Follow-on Commence Equity Offering, Follow-on At-the-Market 11.2mm units at TIGT West End Water Equity Program 50.82/unit…
TEP is a Traditional Midstream MLP Crude Oil Transportation and Logistics Processing and Logistics 764-mile FERC regulated crude oil pipeline from Processing and treating Guernsey, WY / NE Colorado to Cushing, OK 190 mmcf/d of…
Visible Cash Flow Growth Dropdowns Organic Projects Dropdown potential at TDEV of 500mm in EBITDA(1) 2B+ of capital projects completed or in process(2) Since IPO, TEP has completed 3 dropdowns with an Emphasize return on capital…
Attractive Business Model Stable Operations Crude Oil & Transportation segment Natural Gas Transportation & Storage segment ToP contracts on 100% of contractible capacity(1) Majority of transportation revenue is ToP based 5 year WARL…
Solid Financial Performance Guidance Outperformance Annualized LP Distribution TEP has consistently met or exceeded guidance (1) At IPO S-1 FY2013 FY2014 Adjusted EBITDA Maintenance Capex Coverage DPU Exceeded Guidance Met…
Two Attractive Investment Opportunities TEP Tallgrass Energy Partners TEGP Tallgrass Energy GP Master Limited Partnership Pure-Play General Partner Owns operating assets TEP Incentive Distribution Rights and GP interest Investors…
Appendix
TEP Segment Overview
Crude Oil Transportation and Logistics Pony Express Overview Attractive Footprint Production expected to outstrip existing pipeline capacity 764-mile FERC regulated crude oil pipeline from Guernsey, WY / NE Colorado to Cushing, OK The…
Natural Gas Transportation and Logistics Overview Long Term Customer Base Consists of 2 FERC-regulated natural gas transportation The top 15 customers weighted average tenure of 18 & storage systems (TIGT and Trailblazer) years(1)(2)…
Processing and Logistics Segment Overview Overview Fee Based Cash Flow Processing and treating Majority of processing contracts are fee based with stable 190 mmcf/d of processing capacity in the Powder cash flow profiles(1) River and…
TEP and TEGP Growth Opportunities
Growth Opportunity: Pony Express Organic Growth Dropdown Remaining 33% Guernsey to Cushing Acquisitions to Date Began commercial service in October 2014 TEP acquired 66.7% preferred interest in Tallgrass 206,000 bbls/d contracted…
Dropdown Opportunity: 50% Interest in REX Prominent pipeline providing natural gas transportation service to North American energy sector Vision: Northernmost header system Attractive access to both supply basins and large end markets…
(1) Dropdown Opportunity: Tallgrass Terminals Tallgrass Energy is utilizing the Pony Express system as an entry point into the terminals business Located at the intersection of the Guernsey to Sterling and NECL line segments of Pony…
Non-GAAP Reconciliations
Non-GAAP Reconciliations Pony Express Pipeline (NTM Ended 6/30/16) Rockies Express Pipeline (2017E) Net Income to Members............................................................. 182 Net Income to…
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