Sunoco Logistics Partners L.P. Energy Transfer Partners, L.P. SXL / ETP Transaction November 2016
Forward-Looking Statements Additional Information and Where to Find It SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS AND THE REGISTRATION STATEMENT REGARDING THE TRANSACTION (THE TRANSACTION) INVOLVING SUNOCO…
Key Transaction Highlights Sunoco Logistics Partners L.P. (SXL) and Energy Transfer Partners, L.P. (ETP) have entered into a merger agreement providing for the acquisition of ETP by SXL in a unit-for-unit transaction 1.500 SXL common…
Key Transaction Highlights Unique opportunity to extend SXLs strategic footprint further upstream to vertically integrate its NGL and crude EXPANDS businesses and realize potential benefits of consolidating additional volumes…
Strategic Rationale SXL ETP Expands SXLs strategic footprint and integrates the Preserves cash for debt reduction and growth capital NGL business closer to the wellhead funding through implied distribution reduction More closely…
Pro Forma Energy Transfer Family Organizational Structure ENERGY TRANSFER EQUITY, L.P. 2% LP Interest 100% 100% GP / IDRs 0.3% LP Interest Interest, 100% GP / IDRs 46% LP Interest SUNOCO LP Pro Forma SXL / ETP 100% GP /…
Diversified Asset Base Across North America Drives Opportunity Optimization Opportunities Permian Crude Gathering and Mainline Gulf Coast NGL Projects Asset Summary Pro Forma Marcellus NGLs Pipeline (miles) 71,000 Midstream…
Fully Integrated Platform Spanning the Entire Midstream Value Chain Involvement in Major Midstream Themes Across the Best Basins and Logistics Hubs Franchise Strengths Opportunities Access to multiple shale plays, storage facilities…
Organic Growth Enhances the Combined Entitys Strong Foothold in the Most Prolific Producing Basins ETP Projects SXL Projects 2017 Bakken Crude Pipeline (1)* 2013 Mariner West 2014 Mariner East 1 - Propane Active in 9 of the top 10…
One of the Largest and Most Dynamic Midstream MLPs Enterprise Value (bn)(1)(2) 77.4 74.3 56.7 53.7 34.1 25.5 25.3 24.0 19.8 EPD PF SXL SA ETP WPZ PAA SEP OKS EEP SA SXL Equity Value Enterprise Value Credit Baa1/ Baa3/…
Synergy Opportunities Permian Crude Gathering and Mainline Optimization Gulf Coast NGL Projects Delaware Basin & Midland Basin opportunities ETPs Lone Star presence in Mont Belvieu Better opportunity to fill capacity on underutilized…
Proven Track Records of Successful Integration SXL and ETPs management teams have proven track records of successfully integrating acquisitions: 2011 2012 2012 2012 2014 2015 Knowledge of respective assets and businesses will…
Key Takeaways SXL/ETP becomes the second largest MLP Pro forma SXL becomes a fully integrated midstream / liquids platform across North America with 71,000 miles of pipeline Operations in major high-growth oil and gas shales and…
Illustrative Transaction Timeline Integration plan will result in one functional organization at closing 3 5 months expected timing from announcement to closing 8 16 weeks Subject to SEC review & regulatory approval November…
Liquids Integration Opportunities
Fully Integrated Midstream / Liquids Platform Across North America The ability to integrate a producer liquids end-to-end solution will better serve customers and alleviate bottlenecks currently faced by producers Marcus Hook: The…
ETP NGL Transportation & Services NGL Storage Pipeline Transportation Fractionation and Processing 53 million barrels NGL storage 2,000+ miles of NGL Pipelines Four fractionators at Mont Belvieu with Permitted to drill additional 8…
Mariner Franchise & Revolution System Projects Project Details Revolution Project Map System is located in Pennsylvanias Marcellus/Utica Shale rich-gas area Rich-gas, complete solution system Currently 20 miles of 16 in-service…
Permian Crude Gathering and Mainline Integration Potential Permian Crude Assets Pecos Crossing System Granite Wash Extension System Capacity: 100,000 bpd 3 West Texas Crude Expansions Granite Wash Crude to multiple markets 4Q 2014…
Bakken Pipeline Project Details Dakota Access Pipeline will connect Bakken production to Patoka, IL with interconnection to Energy Transfer Crude Oil Pipeline (Trunkline conversion) to reach Nederland and the Gulf Coast Supported…
Existing IDR Waivers (in thousands) Existing ETP IDR Existing SXL IDR Total IDR Reduction Reduction Reduction December 31, 2016 137,500 7,500 145,000 March 31, 2017 149,500 7,500 157,000 June 30, 2017 154,500 7,500 162,000…
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