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Analyst Day 2015 – Energy Transfer

Energy Transfer · Nov 17, 2015 · 20 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Analyst Day 2015 – Energy Transfer – slide 1
    ENERGY TRANSFER EQUITY, L.P. 2015 Analyst Day November 17th, 2015
  2. Analyst Day 2015 – Energy Transfer – slide 2
    PRO FORMA ENERGY TRANSFER ORGANIZATIONAL STRUCTURE ENERGY TRANSFER CORP ENERGY TRANSFER EQUITY L.P. (NYSE: ETC) (NYSE: ETE) 2% LP interest* 58.8% LP Interest 100% 1% LP Interest 90% GP / IDRs (1) 100% GP / IDRs 100% GP /…
  3. Analyst Day 2015 – Energy Transfer – slide 3
    ENERGY TRANSFER FAMILY EVOLUTION OVER TIME ETE has announced or executed on nearly 128 billion of midstream opportunities since 2004 2004 2011 2012 2013 2014 2015 Beyond Build Simplify Continue growth 16.0% Build an initial platform…
  4. Analyst Day 2015 – Energy Transfer – slide 4
    ETE WILL BE AMONG THE LARGEST ENERGY COMPANIES IN THE WORLD Enterprise Value vs. Top Energy Companies(1) ( in billions) 365 337 Major Midstream 270 Pro Forma Oilfield Services 190 E&P 148 147 141 138 124 117 95 88 76…
  5. Analyst Day 2015 – Energy Transfer – slide 5
    WILLIAMS MERGER ENHANCES ENERGY TRANSFERS STRENGTHS WPZ is a major complement to Energy Transfer's existing business and will benefit from its integrated business model Franchise Strengths Opportunities Access to multiple shale…
  6. Analyst Day 2015 – Energy Transfer – slide 6
    MERGER CREATES ONE OF THE LARGEST ENERGY FRANCHISES IN THE U.S.... Natural NGLs Crude Gas Oil 3rd largest MLP Leading Largest G&P MLP Largest transporter 3rd largest NGL 2nd largest planned transporter of non-refining and…
  7. Analyst Day 2015 – Energy Transfer – slide 7
    UNIQUE GEOGRAPHIC FOOTPRINT TO HELP DRIVE INCREASED ENERGY PRODUCTION ETP Assets SXL Assets WPZ Pipelines Crude Production (Mbpd) WPZ Gas Processing Plants WPZ LPG Fractionators Natural Gas Production (MMcf/d) Alberta SXL Terminals…
  8. Analyst Day 2015 – Energy Transfer – slide 8
    EXCEPTIONALLY WELL-POSITIONED TO CAPITALIZE ON U.S. ENERGY EXPORTS Alberta Asset base well-positioned to capture the changing supply and demand dynamics for condensates, natural gas, NGLs and LNG Energy Transfer Assets Canada ETP…
  9. Analyst Day 2015 – Energy Transfer – slide 9
    AND A FULLY INTEGRATED MIDSTREAM / LIQUIDS PLATFORM ACROSS NORTH AMERICA The ability to integrate a producer liquids end-to-end solution will better serve customers and alleviate bottlenecks currently faced by producers Marcus Hook:…
  10. Analyst Day 2015 – Energy Transfer – slide 10
    ORGANIC GROWTH CONTRIBUTES TO ENERGY TRANSFERS STRONG FOOTHOLD IN THE MOST PROLIFIC PRODUCING BASINS ETP Projects SXL Projects 2016 Bakken Crude Pipeline (1)* 2013 Mariner West 2014 Mariner East 1 - Propane Active in 9 of the top…
  11. Analyst Day 2015 – Energy Transfer – slide 11
    ETES PRO FORMA CASH FLOW COMPONENTS WPZ SUN TLNG SXL ETP 0.00 IDR Sub (1) ETP GP / IDR ETP LP ETP GP / IDR SXL Class H TLNG Distributions SUN LP SUN GP / IDR WPZ LP WPZ GP / IDR Total ETE Cash Subsidies…
  12. Analyst Day 2015 – Energy Transfer – slide 12
    ETE WILL CONTINUE TO BENEFIT FROM SOLID UNDERLYING CASH FLOW GROWTH Distributions Received From Underlying Operating Partnerships(1) ( in millions) (2) (2) (1) 21 264 105 103 36 11 13 48 7 48 48 14 99 1,297 35 316…
  13. Analyst Day 2015 – Energy Transfer – slide 13
    PEER-LEADING HISTORICAL AND PROJECTED DISTRIBUTION GROWTH Historical & Projected DPU Growth 2015E-2017E ETE/WMB Distribution CAGR vs. Public GP Peers Historical DPU CAGR Projected DPU CAGR Q3 13 Q3 15 2015E 2017E ETE ETE 21% ETE…
  14. Analyst Day 2015 – Energy Transfer – slide 14
    SIGNIFICANT VALUE UPSIDE FOR ETE UNITHOLDERS Illustrative Effective ETE Price Appreciation OVER 100% POTENTIAL VALUE UPLIFT 8 41 41 41 40.00 15 33 35.00 30.00 25.00 18.24 18.24 20.00 15.00 10.00 5.00…
  15. Analyst Day 2015 – Energy Transfer – slide 15
    MERGER IMPROVES ETES CREDIT PROFILE Pro Forma Capital Structure Pro Forma Interest Rate Exposure (3) Actual Transaction Pro Forma Floating ( in millions) 9/30/2015 Adjustments 9/30/2015 , 25% ETE Senior Secured Revolving Credit…
  16. Analyst Day 2015 – Energy Transfer – slide 16
    KEY TAKEAWAYS ETE will derive its cash flow strength from: Three of the largest investment grade diversified MLPs (ETP, SXL and WPZ) as well as a fast growing retail fuel MLP (SUN) Increasing incentive distributions resulting from…
  17. Analyst Day 2015 – Energy Transfer – slide 17
    ILLUSTRATIVE TRANSACTION TIMELINE 5 months expected timing from announcement to closing 8 12 weeks Subject to SEC review & regulatory approval September 2015 Sign Merger Agreement File proxy WMB Announce transaction statement…
  18. Analyst Day 2015 – Energy Transfer – slide 18
    APPENDIX
  19. Analyst Day 2015 – Energy Transfer – slide 19
    SUBSTANTIAL OPPORTUNITY TO REALIZE SHARED SERVICE COST SAVINGS Value Creation Low execution risk At least 400 million annual cost synergies Run-rate cost synergies achieved by 2017 HR Internal Audit SOX Tax…
  20. Analyst Day 2015 – Energy Transfer – slide 20
    G&A COMPARISON AND SYNERGY TRACK RECORD WMB / ETE G&A Historical Synergies Track Record ( in millions) WMB ETE ( in millions) 700 250 600 200 500 150 400 300 100 200 50 100 Information Legal Human…

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