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June 2016 MLPA Conference Presentation – Nustar Energy L.P.

Nustar Energy L.P. · Jun 2, 2016 · 24 slides

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Slides

  1. June 2016 MLPA Conference Presentation – Nustar Energy L.P. – slide 1
    2016 MLPA Master Limited Partnership Investor Conference June 1 & 2, 2016
  2. June 2016 MLPA Conference Presentation – Nustar Energy L.P. – slide 2
    NuStar Overview
  3. June 2016 MLPA Conference Presentation – Nustar Energy L.P. – slide 3
    Two Publicly Traded Companies Public Unitholders William E. Greehey 34.0 million NSH Units 8.9 million NSH Units 79.2% Membership Interest 20.8% Membership Interest 2% G.P. Interest in NS IPO Date: 4/16/2001 13.0% L.P. Interest…
  4. June 2016 MLPA Conference Presentation – Nustar Energy L.P. – slide 4
    Resilient and Strong Core Operations, No Matter the Price of a Barrel of Crude Coverage Ratio (Trailing Twelve Months) vs Price of Crude (April 2014 March 2016) 1.3 120 110 1.2 100 1.13x 1.12x 1.13x 1.11x 1.08x 90 1.1 1.04x…
  5. June 2016 MLPA Conference Presentation – Nustar Energy L.P. – slide 5
    Large and Diverse Geographic Footprint with Assets in Key Locations Pt. Tupper, Nova Scotia 7.7MM bbls Linden, NJ 4.3MM bbls St. James, LA 9.2MM bbls Corpus Christi, TX Destination for South Texas Crude Oil Pipeline…
  6. June 2016 MLPA Conference Presentation – Nustar Energy L.P. – slide 6
    Majority of Segment EBITDA Generated by Fee-Based Pipeline and Storage Segments Percentage of 2015 Segment EBITDA (for the year ended 12/31/15) Pipeline: 50% Refined Product Pipelines 50% Crude Oil Pipelines Ammonia Pipeline…
  7. June 2016 MLPA Conference Presentation – Nustar Energy L.P. – slide 7
    Building on Our Strengths - Stable, Diversified Business Foundation for Future Growth Contracted fee-based storage and pipeline assets provide stable cash flows Storage terminals effectively full 75% of pipeline revenues are…
  8. June 2016 MLPA Conference Presentation – Nustar Energy L.P. – slide 8
    Expect 180 to 200 Million of Strategic Spending in 2016 (Dollars in Millions) 800 690 700 600 316 500 431 395 400 101 143 300 262 43 200 374 294 302 328 288 180 100 219 to 200 0 2010 2011 2012 2013 2014 2015 2016…
  9. June 2016 MLPA Conference Presentation – Nustar Energy L.P. – slide 9
    Pursuing Pipeline and Storage Opportunities Included in 2016 Spending Guidance Construction of 260M Currently Evaluating bbls of New Storage in the Central East Linden Terminal West Coast Terminal Expansion Expansions Multiple…
  10. June 2016 MLPA Conference Presentation – Nustar Energy L.P. – slide 10
    No Debt Maturities until 2018 (LTD Maturity Profile as of March 31, 2016, Dollars in Millions) 1,000 Receivables Financing Callable in 2018, but final maturity in 2043 802 Sub Notes 49 750 GO Zone Financing Senior Unsecured…
  11. June 2016 MLPA Conference Presentation – Nustar Energy L.P. – slide 11
    Pipeline Segment
  12. June 2016 MLPA Conference Presentation – Nustar Energy L.P. – slide 12
    Pipeline Segment Overview Pipeline Segment EBITDA1 Pipeline Receipts by Commodity ( in millions) LTM as of 3/31/16 335 to 355 355 323 Other 10% 277 Distillate 211 17% Crude 190 199 198 186 44% Gasoline 29% 2008 2009…
  13. June 2016 MLPA Conference Presentation – Nustar Energy L.P. – slide 13
    Throughputs in NuStars South Texas Crude Oil Pipeline System 290 300 272 270 263 255 238 218 207 204 190 193 200 179 179 168 173 175 161 149 131 133 120 112 100 4Q 2013 1Q 2014 2Q 2014 3Q 2014 4Q 2014 1Q 2015 2Q 2015 3Q…
  14. June 2016 MLPA Conference Presentation – Nustar Energy L.P. – slide 14
    NuStars South Texas Pipeline Presence Pawnee to Oakville PL 12 Second Phase of Expansion 12 Choke Canyon PL 12 Pettus South 10 Laredo PL 8 Houston 12 Corpus-Odem-3R 8 Oakville to Corpus 16 Valley PL…
  15. June 2016 MLPA Conference Presentation – Nustar Energy L.P. – slide 15
    Working with Pemex to Develop Project to Transport LPGs and Refined Products from the U.S. Into Northern Mexico Delays due to organizational changes within Pemex Originally planned 125 million spend in 2016. Due to project delay,…
  16. June 2016 MLPA Conference Presentation – Nustar Energy L.P. – slide 16
    NuStar Expanding Mid-Continent Pipeline and Terminal Network Several projects have been completed or are under development with a key customer to increase distillate and propane supply throughout the Upper Midwest for an investment…
  17. June 2016 MLPA Conference Presentation – Nustar Energy L.P. – slide 17
    Storage Segment
  18. June 2016 MLPA Conference Presentation – Nustar Energy L.P. – slide 18
    Storage Segment Overview Adjusted Storage Segment EBITDA1 ( in millions) 335 310 to 330 279 287 287 277 256 242 208 2008 2009 2010 2011 2012 2013 2014 2015 2016 Forecast 2016 segment EBITDA expected to decrease compared…
  19. June 2016 MLPA Conference Presentation – Nustar Energy L.P. – slide 19
    Piney Point Terminal Back in Service Piney Point Terminal 5.4 million-barrel storage facility located in Piney Point, Maryland, along the Potomac River Primary storage capabilities include gasoline, distillates and other clean…
  20. June 2016 MLPA Conference Presentation – Nustar Energy L.P. – slide 20
    Fuels Marketing Segment
  21. June 2016 MLPA Conference Presentation – Nustar Energy L.P. – slide 21
    Fuels Marketing Segment Benefits Base Business Segment is composed of: Refined Products Marketing Primarily butane blending, which is a consistent and low risk business Bunkering Crude & Fuel Oil Trading Fuels Marketing Segment…
  22. June 2016 MLPA Conference Presentation – Nustar Energy L.P. – slide 22
    Appendix
  23. June 2016 MLPA Conference Presentation – Nustar Energy L.P. – slide 23
    Capital Structure (as of March 31, 2016, Dollars in Millions) 1.5 billion Credit Facility 958 NuStar Logistics Notes (4.75%) 250 NuStar Logistics Notes (4.80%) 450 NuStar Logistics Notes (6.75%) 300 NuStar Logistics Notes (7.65%)…
  24. June 2016 MLPA Conference Presentation – Nustar Energy L.P. – slide 24
    Reconciliation of Non-GAAP Financial Information 25

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