MARTIN MIDSTREAM PARTNERS L.P. ANALYST DAY AGENDA 2016 Welcome & Introductions T President Joe McCreery, Vice E X T GFinance O E &S Head HE of R E Relations Investor SUBTEXT IS PLACED HERE MMLP Overview Joe McCreery, Vice…
MARTIN RESOURCE MANAGEMENT (MRMC) OVERVIEW Based in Kilgore, TX, MRMC is a leading independent provider of storage, manufacturing, marketing, and distribution services to energy, petrochemical and other industrial concerns TEXT GOES…
MARTIN MIDSTREAM PARTNERS L.P. (MMLP) OVERVIEW NASDAQ Listed: MMLP Formed October 31, 2002 TEXT GOES HERE MMLP is a publicly traded, diversified master limited S U B Tpartnership EXT IS PLACED HERE with operations including:…
KEY INVESTMENT HIGHLIGHTS Majority of cash flows generated from fee-based contracts Fee-Based Contracts Significant portions consist of reservation charges or minimum fee arrangements TEXT GOES HERE SUBTEXT IS PLACED HERE Refinery…
UNIQUELY DIVERSIFIED OPERATING MIX Natural Gas Services Terminalling & Storage 83.5 67.3 188.3 Adjusted EBITDA Marine Transportation Sulfur Services (204.7 million before 16.4 million unallocated SG&A and other non-operating…
UNIQUELY DIVERSIFIED OPERATING MIX Natural Gas Services Terminalling & Storage 84.2 72.0 183.6 Adjusted EBITDA Marine Transportation Sulfur Services (199.7 million before 16.1 million unallocated SG&A and other non-operating…
MMLP ASSET LOCATIONS ALL SEGMENTS 11
STRONG FEE-BASED CONTRACT MIX Natural Gas Services Fee-based, multi-year natural gas storage contracts (weighted average life approximately 4.5 years) TE Fee-based regulated common carrier tariffs (WTLPG) XT GOES HERE SUBTEXT IS…
PROFITABILITY DRIVERS Natural Gas Services Terminalling & Storage Cardinal Gas Storage Corpus Christi Crude and Specialty Terminals Natural Gas production/supply Eagle Ford production (CCCT) Geographical basis differentials T E X T G O…
HIGH QUALITY LONG-TERM CUSTOMER BASE Long-term customer relationships are a key driver of our success TEXT GOES HERE Full value chain solutions for handling and logistics SUBTEXT IS PLACED HERE Customers include some of the…
STRONG GENERAL PARTNER SUPPORT MRMC businesses help support MMLP MRMCs distinct assets and business units are TEXT GOES HERE complementary to MMLP SUBTEXT IS PLACED HERE Approximately 25% of 2015 MMLP Adjusted EBITDA derived from…
NATURAL GAS SERVICES OVERVIEW MMLP provides wholesale distribution of natural gas liquids (NGLs) to propane retailers, refineries and industrial NGL users in Texas and the southeastern U.S. MMLP owns Cardinal Gas Storage Partners LLC,…
NATURAL GAS SERVICES Cardinal Gas Storage Cardinal Gas Storage Adjusted EBITDA 50.0 44.3 Firm Contracted Storage/Fee-Based Cash Flow 40.0 38.1 Firm contract model for natural gas storage T E X T G O E30.0 S HERE Long term…
NATURAL GAS SERVICES Cardinal Gas Storage Asset Locations Arcadia Gas Storage Monroe Gas Storage Salt dome facility (Arcadia, LA) 17.5 bcf Depleted reservoir facility (Amory, MS) 7.0 bcf Perryville Gas Storage Salt dome facility…
NATURAL GAS SERVICES Butanes & Underground Storage Butane Optimization Butanes Adjusted EBITDA New rail rack at Arcadia, LA operational June 1, 2015 creating 23.5 25.0 dual capabilities (truck and rail) plus a broadened (national)…
NATURAL GAS SERVICES West Texas LPG Pipeline L.P. WTLPG includes approximately 2,300 miles of Y-grade pipeline extending from eastern New Mexico to Mt. Belvieu, Texas MMLP owns 20% interests in West Texas LPG Pipeline L.P. (OKS is…
NATURAL GAS SERVICES NGLs & Propane NGLs Propane Assets include 200-mile East Texas Pipeline providing Y- X Wholesale propane distribution to approximately 100 TE T GOES HERE grade deliveries (Kilgore to Beaumont) for fractionation;…
TERMINALLING & STORAGE MMLP owns or operates 45 terminal facilities with an aggregate storage capacity of 4.2 million barrels. These facilities are located across the U.S. Gulf Coast region and provide storage, refining, T E…
TERMINALLING & STORAGE Specialty Terminals Specialty Terminals Overview T Ethe Network of 16 owned or operated terminals facilitate XT GOES HERE SUBTEXT IS PLACED HERE movement of petroleum products and by-products to and from oil…
TERMINALLING & STORAGE Specialty Terminals Expertise In Crude Oil Transloading and Hard to Handle Product and By-Product Logistics Corpus Christi Crude Terminal T E X T G O E S H E RSpecialized E Sites (continued) SUBTEXT IS PLACED…
TERMINALLING & STORAGE Marine Shore-Based Terminals Gulf Coast Fuel and Lubricant Distribution Network T Efrom 29 owned or operated terminals along the Gulf Coast XT G O Strategically-located E S H E R E asset base well-positioned…
TERMINALLING & STORAGE Smackover Refinery Specialized Naphthenic Refinery T Ein X 7,500 bpd capacity naphthenic lube refinery located T G O EFee-based S H Econtract R E structure provides stable cash flow SUBTEXT IS P L AC…
TERMINALLING & STORAGE Martin Lubricants Lubricant Blending & Packaging T assets Specialty lubricant product blending and packaging EXT GOES HERE located in Smackover, AR including: SUBTEXT IS PLACED HERE 235,000 sq. ft. warehouse…
SULFUR SERVICES OVERVIEW MMLP has an integrated system of sulfur aggregation facilities and transportation assets. MMLP gathers molten sulfur from refiners, primarily located on the Gulf Coast. Molten sulfur is either marketed to…
SULFUR SERVICES Integrated Value Chain Provides transportation, processing and marketing services necessary to move product from producer to consumer Intermodal transportation offers multiple fee opportunities for the Partnership…
SULFUR SERVICES Fertilizer Fertilizer Adjusted EBITDA 25.0 Fertilizer Overview 19.5 20.0 18.0 MMLP manufactures and markets sulfur-based fertilizer and 16.2 T E X T G O E15.0 S HERE related sulfur products for agricultural and…
SULFUR SERVICES Molten Sulfur Molten Sulfur Adjusted EBITDA 12.0 Refinery Supply Agreements 9.8 10.0 8.7 Performance risk is minimal as refiners require security of TEXT GO E 8.0 S H ERE 6.2 offtake and customers need stable…
SULFUR SERVICES Prilled Sulfur Sulfur Prilling Adjusted EBITDA 12.0 Prilling Agreements 10.0 8.9 Refinery customers pay MMLP minimum reservation fees T E X T G O E 8.0 S HERE 6.7 and operating fees per ton of sulfur for its…
MARINE TRANSPORTATION OVERVIEW MMLP utilizes a fleet of inland and offshore tows to provide marine transportation of petroleum products and by-products produced in oil refining and natural gas processing. MMLPs marine transportation…
MARINE TRANSPORTATION Assets Marine Transportation 45 inland marine tank barges TEXT GOES HERE 25 inland push-boats SUBTEXT IS PLACED HERE 3 offshore tug barge units Ability to handle specialty products (asphalt, fuel oil,…
MARINE TRANSPORTATION Inland & Offshore Inland Marine Adjusted EBITDA 25.0 Profitability Drivers 21.6 20.0 Supply of available marine equipment 16.3 16.6 T E X T G O E15.0 S HERE Refinery utilization and runs SUBTEXT IS PLACED…
F I N A N C I A L F O U N D AT I O N & P R O J E C T I O N S E T J o e M c C r e e r y, V i c e P r e s i d e n t F i n a n c e
CAPITALIZATION 39
RECENT MMLP UNIT PURCHASES BY KEY INSIDERS Total Period Total Q3 2014 Q4 2014 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 2015 Q1 2016 2016 Purchases Ownership General Partner Martin Resource Management Corporation (51%) 1,171,265 -…
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