Fixed Income Investor Presentation New York, NY and Boston, MA June 24-25, 2015
ORGANIZATIONAL OVERVIEW AND HIGHLIGHTS Buckeye owns and operates a diversified network of integrated assets providing midstream logistic solutions Three Business Operating Units LTM(1) Adjusted EBITDA Domestic Pipelines & Terminals…
RECENT DEVELOPMENTS Domestic Pipelines & Terminals oSuccessful open season offerings recently completed oHigher volumes and benefit of capital investments drove strong Q1 performance Global Marine Terminals oSuccessful execution of…
PIPELINE AND TERMINAL SYSTEM MAP Chicago Complex NY Harbor Caribbean Gulf Coast Four Buckeye Hubs Copyright 2015 Buckeye Partners, L.P. 5
TRANSFORMATION SINCE 2010 Acquisitions Drove Significant Geographic New Global Marine Terminals Segment Provides Diversification Significant Diversification in Adjusted EBITDA (1) 763.6 787.9 648.8 559.5 31% 33% 487.9 23% 23%…
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 Unique midstream platform in the Gulf Coast with long-term committed revenues and significant opportunities for further growth Asset Overview (1) Strategic Rationale o Buckeye Texas Hub…
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…
LONG TERM DEBT PORTFOLIO Debt Ratings and Metrics Debt Tranches (1) o Fitch: BBB-/Stable Outlook 5.125% Notes due July 1, 2017.. 125,000,000 o Moodys: Baa3/Stable Outlook 6.050% Notes due January 15, 2018.. 300,000,000 o Standard &…
BUCKEYE PARTNERS SUMMARY Diverse portfolio of assets built through acquisitions and internal investment that deliver stable financial results despite volatile commodity markets oPredominantly fee-based cash flows from our…
N NON-GAAP RECONCILIATIONS
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…