Shell Midstream Partners, L.P. (SHLX) Q1 2017 Results May 5, 2017 John Hollowell Chief Executive Officer Shell Midstream Partners 1
Summary Delivered strong financial results Adjusted EBITDA up 3% over Q4 2016 Cash Available for Distribution up 9% over Q4 2016 5.1% increase in quarterly distribution to 0.291/LP unit (79.1% increase over MQD) Coverage ratio of…
Acquisition of Strategic Onshore and Offshore Assets Total acquisition price of 630 million 8.4x projected NTM Adjusted EBITDA Immediately accretive to unitholders Refinery Gas Pipelines: Signals next phase of drop down strategy…
Refinery Gas Acquisition Louisiana Segments Texas Segments Cash flows secured by long-term contracts with take or pay provisions Shell Midstream Partners 5
Delta & Na Kika Acquisition Strategic acquisition to complete the Eastern Corridor connecting offshore production to onshore markets Delta Pipeline: Services two core market hubs and two refineries Aggregates volume from five…
Q2 CAFD Outlook Zydeco Interplant Line Acquisition Effective May 1 Zydeco Interplant Line Sale 22 line connecting Port Neches Terminal to Port Arthur Refinery Approximately 5.5 miles in length Transaction Price 21 million, equates…
Financial Results Three Months Ended from Operations ( million) March 31, 2017 December 31, 2016 Revenue 70.2 75.6 Cost and Expenses 38.4 34.2 Operating Income 31.8 41.4 Income from Equity Investments 38.7 30.9 Dividend Income 7.3…
Non GAAP Three Months Ended Financial Metrics ( million except per unit amount) March 31, 2017 December 31, 2016 Adjusted EBITDA Attributable to SHLX (1) 86.6 84.3 Less: Net Interest Paid 4.8 4.5 Maintenance Capital Attributable…
Balance Sheet ( million) As of March 31, 2017 Cash and Cash Equivalents 154.6 Total Debt Outstanding 685.3 Total Credit Facilities (Inc. Zydeco) 1,390 Liquidity Available (Cash + Debt Capacity) 857.7 Shell Midstream Partners…
Diversified Asset Base Portfolio of Assets As of May 1, 2017 Offshore Onshore Ownership % Ownership % Pipelines Pipelines Auger 100.0% Bengal 50.0% Cleopatra 1.0% Colonial 6.0% Endymion 10.0% Delta 100.0% Mars 48.6% Explorer…
Questions and Answers For further questions, please contact Courtney Selinidis +1 713 241 1513 Courtney.SelinidisShell.com Shell Midstream Partners 13
Shell Midstream Partners
Forecasted Offshore Volume Growth Rates 2017-2018 Mars Amberjack Delta Odyssey Auger 2011 2012 2013 2014 2015 2016 2017E 2018E Source: Producers internal projections, public filings and presentations. Projected volumes…
Shell Midstream Partners Strategy Flagship Portfolio Mainstream High quality assets Midstream: Extensive runway of strategic Stable, Fee assets for future growth Based Cash Flows Financial Top Tier Growth…
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