Enterprise Products Partners L.P. NYSE: EPD June 2012 www.enterpriseproducts.com All rights reserved. Enterprise Products Partners L.P.
Key Investment Considerations Largest publicly traded energy partnership in United States with an enterprise value of approximately 58 billion; 62nd on Fortune 500 Integrated midstream energy system serving producers and consumers of…
EPD Portfolio of Integrated Assets Major Asset Overview 50,600 miles of natural gas, NGL, crude oil, refined 20 NGL & Propylene fractionators products and petrochemical pipelines 6 offshore hub platforms 190 MMBbls of NGL, refined…
Leading Business Positions Across Midstream Energy Value Chain Midstream Energy Services Natural Gas Natural Gas Pipelines Storage Pipelines Ethane NGLs Propane Natural Gas Butane Pipelines Gas Processing Iso-Butane Natural NGL…
Geographic and Business Diversification Provide Multiple Earnings Streams 4.0 Billion Gross Operating Margin NGL Pipelines & Services (58%) For 12 months ended March 31, 2012 Natural gas processing & related NGL marketing activities…
Visibility to Growth 8 Billion Growth Projects Under Construction Investment in new natural gas, NGLs and crude oil infrastructure to support development of shale plays Eagle Ford shale Rockies Permian Basin / Avalon Shale / Bone…
Major Capital Projects All rights reserved. Enterprise Products Partners L.P.
Major Capital Projects Under Construction 8 Billion In Service Date 1Q12 2Q12 3Q12 4Q12 2013 20142015 Haynesville Gas Gathering Pipeline SE Stanley & Treating Facility DONE Eagle Ford Mixed NGL Pipeline & Ethane Cavern DONE Eagle Ford…
Eagle Ford Shale Projects 600 Eagle Ford Crude / Condensate Production 500 500 400 MBPD 300 214 200 100 3 35 0 2009 2010 2011 2012 Est. Three new 75 MBPD NGL fractionators at Mont Belvieu All rights reserved.…
Shale Plays Drive Western Pipeline Expansions MAPL Rocky Mountain NGL Pipeline Expansion 218 miles of 16 pipeline loops and 18 pump modifications to increase capacity from 275 MBPD to 340 MBPD 10-year, ship-or-pay agreements…
Appalachia to Texas (ATEX) Express P/L Transport Ethane from Marcellus / Utica Shale 250 Volumes 220 205 195 200 175 165 150 MBPD 100 50 105 120 95 Proposed Ethane Header P/L 65 75 0 550-mile pipeline system 2014…
Seaway Crude Oil Pipeline Relieves Cushing Bottleneck Starting in May 2012 EPD / ENB 50 / 50 JV to reverse flow of Seaway and expand capacity to provide Gulf Coast access to Mid-Continent, Bakken and Canadian shippers Phase I…
NGL Demand Growth by Petrochemical Industry All rights reserved. Enterprise Products Partners L.P.
Low Gas to Crude Spread Drives U.S. NGL Advantage Global Indicative Ethylene Cash Costs Indicative U.S. Ethylene Cracker Dollars Per Metric Ton Ethylene Margin Cents Per Pound Profit Margin by Feedstock 1,400 60 1,200 50 1,000 40…
Propylene Supply / Demand Balances Total Propylene Supply U.S. propylene demand remains 16 15.2 steady at 33 billion lbs. per year 14.7 12.8 Continued shift to higher margin Billion Pounds 11.8 12 10.8 11.4 ethane cracking…
As a Result EPD announced plans to build one of the worlds largest PDH units along the Texas Gulf Coast Would consume up to 35 MBPD of propane to produce up to 1.65 billion lbs. per year (25 MBPD) of polymer grade propylene Will…
Financial All rights reserved. Enterprise Products Partners L.P.
History of Financial Discipline Retaining DCF for Financial Flexibility 4.0 Distributable Cash Flow Long-term focus 3.7 1.0 Retaining DCF (equity) 3.0 2.3 capital similar to C-corps Billions 0.1 2.0 1.6 1.6 1.4…
History of Financial Discipline While Executing Growth Strategy (1) (2) Total Growth Capex & Debt Leverage 4.0 Funded growth investments 4.6x 3.6 3.7 4.7x through issuance of debt and 3.5 4.5x equity, retained DCF and 3.1 4.5x…
No GP IDRs Results in Lower Cost of Equity Capital 50% (1) 45% Selected Pipeline and Terminal MLPs 40% GP Share of Current Distributions 34% 30% 30% 28% 26% 26% 20% 21% 20% 17% 16% 12% 13% 10% 8% 0% 0% 0% 0% 0% EPD EPD…
EPD Financial Snapshot Unit Price / Yield Debt Capitalization (as of March 31, 2012) EPD LP Unit Price (June 19, 2012) 48.78 Senior Unsecured Debt (Billions) 13.1 Current Annualized Cash Distribution Rate 2.51 Junior Subordinated…
EPD and AMZ MLP Index Attractive Total Return vs. Other Asset Classes 10-Year 5-Year 3-Year 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 3M 2012 1 1 1 CAGR CAGR CAGR Commodities EPD EPD EPD EPD Commodities…
Non-GAAP Reconciliations All rights reserved. Enterprise Products Partners L.P.
Non-GAAP Financial Measures This presentation utilizes the Non-GAAP financial measures of Gross Operating Margin, Adjusted EBITDA and Distributable Cash Flow. Gross Operating Margin and Adjusted EBITDA have been presented as if EPD were…
Non-GAAP Reconciliations Enterprise Products Partners L.P. Gross Operating Margin (Dollars in millions) For the For the Three Last Twelve Months Ended Months Ended For the Year Ended December 31, March 31, March 31, 2007 2008 2009…
Non-GAAP Reconciliations Enterprise Products Partners L.P. Adjusted EBITDA (Dollars in millions) For the Three Months Ended For the Year Ended December 31, March 31, 2007 2008 2009 2010 2011 2012 Net income 762.0 1,145.1 1,140.3…
Non-GAAP Reconciliations Enterprise Products Partners L.P. Distributable Cash Flow (Dollars in millions) For the Three Months Ended For the Year Ended December 31, March 31, 2007 2008 2009 2010 2011 2012 Net income attributable…
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