Investment Highlights Dual Platform Operating Strategy A Leading National Propane Franchise Income Fee-based Midstream Business Anchored by Northeast U.S. Gas Storage Strong Financial Performance Record Midstream Energy Storage…
Inergy Snapshot Inergy, L.P. is a geographically diverse retail propane and midstream energy business 4.8 billion combined partnership enterprise value with 301 million TTM Adj. EBITDA(a) Propane Midstream 4th largest retail propane…
Distinguished Distribution Performance Two Securities Offer a Compelling Combination of Income & Growth Inergy has consistently grown cash distributions & maintained strong coverage ratios 3.76 NRGP es cr e as 2.86 NRGY In t io n…
Public GP Provides 2nd Strategic Source of Equity Capital 73.1% Offers Inergy Access to Both Growth & Management Limited & Others Partner Income Oriented Investor Bases Interest NRGP Highlights Inergy 26.9% Public Management aligned…
Inergy Strategy Deliver Operational Excellence Further Enhance the Operation of an Outstanding Propane Franchise Maintain flexible operating model in attractive markets Deliberate focus on residential customer base with high tank…
Propane Operations A leading national retail business Quality geographic footprint profitable markets 4th largest national retailer Consistent financial performance Residential customer focus 70% 90% tank control Cost + margin…
Superior Operating Performance EBITDA/Retail Propane Gallon (a) Business model and intense focus on 0.75 retail margin lends itself to better pricing and operational decision-making = Key 0.60 Profit Driver 0.45 0.30 Acquisition…
Propane Industry Fragmentation Domestic Retail Market for LPG is Approximately 10.0 Billion Gallons (a) Southern States (c) United Propane Gas 0.7% 0.7% MFA Oil Co. (c) Cenex (c) 0.8% 2.1% Over 5,000 Independent Growmark (c)…
Midstream Business Stable, fee-based cash flow profile with no commodity price exposure Stable Stable Fee-Based Fee-Based Growing business representing an increasing percentage of Inergys Cash Cash Flows Flows run-rate EBITDA NE…
Leading Independent Storage Provider Inergy is among the largest independent natural gas storage providers and the largest independent located in the Northeast demand market Abundant pipeline interconnections available close to…
Premier Energy Storage Platform 4 Assets & 3 Expansion Projects Located Atop the Marcellus Shale Natural Gas Storage & Transportation LPG Storage ay Stagecoach (26.3 Bcf capacity) de rw Finger Lakes LPG (7.0 mm bbl capacity) Un…
Integrated Northeast Storage Hub Midstream assets strategically located atop the prolific Marcellus Shale Potential for over 52 Bcf of working gas storage capacity contained in an 40 mile radius within 200 (a) miles of New York…
Financial Performance Total Gross Profit 574 575 600.0 December 31, 2009 502 457 As Adjusted Total Gross Profit ( millions) 500.0 400.0 Cash 15.8 300.0 Revolving working capital facility .. 25.0 200.0 111.0 (a)(b)…
Investment Highlights Dual Platform Operating Strategy A Leading National Propane Franchise Income Fee-based Midstream Business Anchored by Northeast U.S. Gas Storage Strong Financial Performance Record Midstream Energy Storage…
Committed to Generating Industry-Leading Returns to Our Investors 17
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