Morgan Stanley MLP Bus Tour January 26, 2016 Strong. Innovative. Growing. 1
Focused on Stability & Execution Stable cash flows 95% of 2015E gross operating margin from fee-based contracts * 50% of 2015E gross operating margin from our sponsor, Devon Energy * Significant portion of cash flows supported by…
EnLink Is Unique Among MLPs 120 Public MLP Universe Gas Gathering and 16 Processing * 90%+ 8 Fee-Based * Investment 2 Grade Long 1 Organic Growth History * Source: Barclays Energy Infrastructure Weekly, August 3,…
Strong Financial Position Well Positioned with a Strong Balance Sheet Investment grade balance sheet at ENLK (BBB, Baa3) Strong Balance Near-term debt / adjusted EBITDA of 4-4.5x * Sheet & Over 1.0 billion of liquidity on 1.5…
Core Areas of Execution 7
Execution in Core Areas Focus On Oklahoma, West Texas & Louisiana The Tall Oak acquisition is the next step in positioning EnLink as a midstream leader in North Americas best resource plays Midland Permian Mid-Continent Leading…
Execution in Oklahoma Partnering with Devon in the STACK Devon Acquired Felix Energy for 1.9 B Acreage in economic core with highest returns in STACK 80,000 net surface acres Devon expects to spend 500MM in 2016 to drive STACK…
Franchise Position in Oklahoma EnLinks Acquisition of Tall Oak in STACK & CNOW Tall Oak Assets Central Oklahoma System Map 1 Chisholm Plant: 100 MMcf/d cryogenic processing plant Additional 200 MMcf/d cryogenic plant to be…
Superior Contracts, Focused Producers Providing Long-Term, Stable Cash Flows Tall Oaks Customers Devon Minimum Volume Commitments 15 customers 250 Largest customers include Devon (through its acquisition of Felix Energy), PayRock…
Expanded Platform in Oklahoma Creates Long-Term Opportunities Crude/condensate opportunities Holds crude dedications from select producers including Felix Energy Close proximity to Cushing and local refineries Devon and EnLink…
Execution in the Permian Basin Expanded Platforms in Midland & Delaware Basins Committed 1.2 billion of capital since 2011 Four acquisitions in 2015 LPC Crude Logistics: 100 MM Coronado Gas Gathering and Proc.: 600 MM Matador Gas…
Strategic Position in Louisiana Gas Supply Moving from Northeast to Gulf Coast to Meet LNG and Industrial Markets Source RBN Energy, January 2015 Source: EIA/RBN Energy 14
Execution in Louisiana South Louisiana Market Leading Position Region defined by demand growth from industrial expansions and LNG exports Franchise NGL platform One of largest NGL footprints in Louisiana: 165,000 Bbl/d of Y-Grade…
Focused on Stability & Execution Stable cash flows 95% of 2015E gross operating margin from fee-based contracts * 50% of 2015E gross operating margin from our sponsor, Devon Energy * Significant portion of cash flows supported by…
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