Citi Cracker Fracker Tour Houston, Texas February 23, 2017
ORGANIZATIONAL OVERVIEW Buckeye owns and operates a diversified network of integrated assets providing midstream logistic solutions, which generate stable and consistent cash flows Domestic Pipelines & Terminals 2016 Adjusted…
SYSTEM MAP Chicago Complex NY Harbor Geographically Diversified Four key Buckeye Hubs plus Gulf Coast Caribbean 50% interest in VTTI B.V.s global footprint Copyright 2017 Buckeye Partners, L.P. 4
TRANSFORMATION SINCE 2010 Significant Geographic Diversification From Global Marine Terminals Segment Provides Acquisitions Significant Diversification in Adjusted EBITDA(1) o Acquired over 75 domestic and international terminals with…
VTTI B.V. ACQUISITION OVERVIEW Transaction Overview Simplified Transaction Structure o Buckeye has acquired 50% of the equity interest in VTTI B.V. (VTTI) from Vitol for 1.15 billion o VTTI, based in the Netherlands, is an…
STRATEGIC RATIONALE Immediate world-wide presence with sizeable assets in key global hubs (ARA(1), Singapore, Middle East) International High quality assets consisting of retrofitted terminals and newly constructed facilities, all…
RECENT DEVELOPMENTS AND QUARTERLY HIGHLIGHTS Buckeye Adjusted EBITDA surpassed 1.0 billion for first time Strong 2016 distribution coverage of 1.09x(1) Domestic Pipelines & Terminals oStrong pipeline and terminal throughput…
LOOKING FORWARD Expect to maintain quarterly distribution Strong balance sheet with sufficient liquidity to fund growth of 0.0125 per quarter through 2017 capital needs without accessing capital markets Buckeye has limited commodity…
GROWTH CAPITAL PROJECTS DOMESTIC PIPELINES & TERMINALS GLOBAL MARINE TERMINALS oProjects to address the continuing trend in west to east Corpus Christi market shift, providing Western and Central oProjects under assessment to optimize…
WEST TO EAST MARKET SHIFT Buckeye expects to benefit from offering advantaged Midwestern refiners further transportation options to eastern markets Michigan/Ohio Expansion Phase One Michigan/Ohio Expansion Phase Two oFacilitate…
INVESTMENT SUMMARY Diverse portfolio of assets built through acquisitions and internal investment that deliver stable financial results despite volatile and depressed commodity price environment oPredominantly fee-based cash flows…
FINANCIAL OVERVIEW
FINANCIAL PERFORMANCE Adjusted EBITDA (in millions)(1)(2) Cash Distribution Coverage Ratio(1)(2)(3) Cash Distributions per Unit Declared(2) Debt to Adjusted EBITDA Ratio(2) (1) 2013 and 2014 amounts represent Adjusted EBITDA…
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