Key Investment Highlights High-Quality Assets Scale and no single asset risk Strong Financial Complementary logistics Strategically assets Profile High complexity refineries Located Access to price-advantaged Debt service is…
Company Overview Company Overview Refining 185,000 bpcd of crude distillation 13.0 blended complexity Located in Group 3 of PADDII Cushing Centric Our refineries are strategically located. Each are approximately 100 miles to…
Complementary Logistics Assets Logistics Overview 7.0MMbbls of total storage capacity, including 6% of total crude oil storage capacity at Cushing Crude Sourcing o In October 2015, an additional 500,000 barrels of storage was…
Complementary Logistics Assets (contd) CVR Refining Gathering Network 2005 2010 2015 Q1 2016 LTM Our crude oil gathering system has grown from 7,000 bpd in 2005 to over 65,000 bpd currently. 8
Financial Overview
Key Investment Highlights Variable distribution with no MQD and no IDRs 100% of available cash to be distributed Distributions Debt service is priority and paid before distributions Cash is reserved for environmental and maintenance…
Capital Structure Capitalization Net Debt ( in millions) As of 3/31/2016 Cash and Equivalents 145.9 Credit Facilities 400 mm ABL - 250 mm Parent revolver 31.5 Capital lease obligations, including current portion 48.1 6.5%…
Historical Financial Summary Refinery crude throughput Refining gross margin (1) (mbpd) (/bbl) Pro forma for Pro forma for Wynnewood Wynnewood acquisition acquisition Adjusted EBITDA (2) NYMEX 2-1-1 Crack Spread ( in millions)…
Q1 Financial Summary Refinery Crude Throughput Refining Gross Margin (1) (mbpd) (/bbl) Adjusted EBITDA (2) and Available Cash for Distribution NYMEX 2-1-1 Crack Spread ( in millions) (/bbl) Source: Company filings. (1)…
Available Cash Calculation Three Months Ended March 31, 2016 (in millions, except per unit data) Reconcilation of Adjusted EBITDA to Available cash for distribtution Adjusted EBITDA 35.1 Adjustments: Less: Cash needs for debt…
Non-GAAP Financial Measures (contd) ( in millions) CVR Refining, CVR Refining, LP Historical Consolidated & Combined LP Pro Forma Year Ended Year Ended December 31, December 31, 2010 2011 2012 2013 2014 2015 Q1 2016 LTM 2011…
Non-GAAP Financial Measures (contd) ( in millions) CVR Refining, LP Three Months Ended 3/31/2016 3/31/2015 Net Income (Loss) (68.0) 46.7 Add: Interest expense and other financing costs, net of interest income 10.8 11.2 Income tax…
Non-GAAP Financial Measures (contd) ( in millions, except per barrel data) CVR Refining, CVR Refining, LP Historical Consolidated & Combined LP Pro Forma Year Ended Year Ended December 31, December 31, 2010 2011 2012 2013 2014…
Non-GAAP Financial Measures (contd) ( in millions, except per barrel data) CVR Refining, CVR Refining, LP Historical Consolidated & Combined LP Pro Forma Year Ended Year Ended December 31, December 31, 2010 2011 2012 2013 2014 2015…
Capital Expenditures 2016 Capital Expenditures by Refinery 2012 2013 2014 2015 Q1 2016 Estimate Coffeyville refinery: Maintenance 40.4 52.6 74.8 69.7 17.7 74.0 Growth 2.0 3.6 5.5 73.2 18.2 48.0 Coffeyville refinery total capital…
Management Team with Proven Track Record of Success John Lipinski CEO & President Prior to the formation of CVR, Mr. Lipinski served as CEO and President of Coffeyville Resources, LLC since 2005 Mr. Lipinski has over 40 years of…
Organizational Structure As of March 31, 2016 IEP Public 82% 18% CVR Energy, Inc. (CVI) 100% Holding Companies (1) 100% Coffeyville Resources, LLC 100% 100% 53% CVR Refining Holdings, LLC CVR GP, LLC Public 100%…
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