MLPA 2017 Annual Investor Conference June 2017 Boardwalk Pineville Compressor Louisiana Dillsboro Compressor Midstream: Station Station Sulphur (Dillsboro, Indiana)Hub 1
Boardwalk Overview Boardwalk Pineville Compressor Louisiana Dillsboro Compressor Midstream: Station Station Sulphur (Dillsboro, Indiana)Hub 33
Key Investment Highlights Diversified Primary services: Transportation and storage of natural gas and liquids midstream MLP Geographic footprint situated to serve growing supply and demand Approximately 90% of annual revenue is…
Boardwalk is a diversified midstream MLP that primarily transports and stores natural gas and liquids Boardwalk 2016 Operational Highlights Natural Gas Liquids Pipelines (miles) 13,930 435 Throughput 2.3 Tcf 64.8 MMbbls Storage…
More on Boardwalk Louisiana Midstream and Evangeline Through Boardwalk Louisiana Midstream (BLM) and Evangeline Ethylene Pipeline, we provide liquids storage and pipeline transportation and brine supply services. BLM Choctaw Hub…
Update on South Texas Pipeline Assets Changing Market Dynamics Along the Texas Gulf Coast LEGEND Texas Gulf Coast Demand Markets LNG demand (approved and proposed) Significant demand growth Exports to Mexico is expected along the…
Growth Projects Placed Into Service Since June 2016 These projects added nearly 1.4 Bcf/d of natural gas transportation services Project Driver Project Description In-Service Date (estimate) Supply push from Two projects to provide…
Growth Projects Underway: 1.1 Billion Total Capital These projects will add more than 1.7 Bcf/d of natural gas transportation services and are consistent with our strategy to serve end-use markets End-Use Market Project Description…
Boardwalks GP: Loews Corporation Subsidiary Our general partner is a wholly-owned subsidiary of Loews Corporation, a large diversified public company with four key operating subsidiaries in insurance, energy and luxury lodging…
Market Fundamentals Boardwalk Pineville Compressor Louisiana Dillsboro Compressor Midstream: Station Station Sulphur (Dillsboro, Indiana)Hub 12 12
Expansion Projects Placed Into Service 2008 to 2010 Project(s) Primary Shale Play(s) Gulf Crossing Pipeline Barnett and Caney/Woodford Shale East Texas to Mississippi Expansion and Barnett, Bossier Sands and Southeast Expansion…
Key Supply Basins: Production and Rig Counts Marcellus/Utica Fayetteville Production (a) Rig Count (b) Production (a) Rig Count (b) 40 150 3.0 12 2.5 10 Number of Rigs Number of Rigs 30 100 2.0 8 Bcf/d 20 6…
Changing Flow Patterns Impacting Basis Spreads to Henry Hub LEGEND Average Annual Spread (0.58) (0.99) 2017 0.02 2016 0.31 2012 2009 DOMINION SOUTH COLUMBIA GULF POINT MAINLINE CENTERPOINT EAST (0.12) (0.08) (0.20) (0.04)…
Demand Forecast: LNG Exports Total US LNG Export Capacity (a) Bcf/d LNG Facilities Existing Approved Proposed Proposed by Location (Under Construction & (Pending (Pre-filing) Not Under Construction) Application) Texas - 6.4 6.9…
Demand Forecast: Power Plants POWER PLANTS We are directly connected to 43 natural- gas-fired power generation facilities in nine different states which serve a variety of regulated and unregulated power markets throughout the…
Demand Forecast: Industrials INDUSTRIALS We provide approximately 190 industrial facilities with a combination of firm and Forecasted Industrial Demand Growth 5.0 interruptible natural gas 4.5 4.2 and liquids transportation 4.0…
Our Boardwalk Louisiana Midstream and Evangeline Assets are Well Situated to Provide Ethylene Transportation and Storage Services to Accommodate Forecasted Supply and Demand Legend Ethane Crackers Under Construction Ethane…
Financial Highlights Boardwalk Pineville Compressor Louisiana Dillsboro Compressor Midstream: Station Station Sulphur (Dillsboro, Indiana)Hub 20
Financial Highlights Substantially a long-term, fixed-fee revenue base Significant portion of revenues backed by firm, ship-or-pay contracts with primarily investment-grade customers Internally generated cash flow, in excess of…
Boardwalk Revenue Profile Backed by Firm, Long-term Contracts Majority of revenues are under firm contracts Capacity reservation charges, representing approximately 82% of our revenue base, are received monthly regardless of…
Contracted Firm Transportation Revenues Contracted Annual Revenues from Capacity Reservation and Minimum Bill Charges under Committed Firm Transportation Agreements Based on contracts in place as of December 31, 2016 1,200…
EBITDA and Leverage Improving Long-Term Debt, net of Cash (at quarter end) EBITDA (Rolling Last Twelve Months) 3,750 900 3,698 3,700 850 827 3,650 803 800 ( millions) 778 ( millions) 3,600 3,584 3,580 763 3,556 3,548…
Capitalization Adjustments for December 31, 2017 Financing March 31, ( in millions, except ratio data) 2016 Activities 2017 Debt: Boardwalk 5.50% Notes due Feb 2017 300 (300) - Gulf South 6.30% Notes due Aug 2017 275 - 275…
Key Investment Highlights Diversified Primary services: Transportation and storage of natural gas and liquids midstream MLP Geographic footprint situated to serve growing supply and demand Approximately 90% of annual revenue is…
EBITDA Reconciliation Non-GAAP Financial Measures Earnings before interest, taxes, depreciation and amortization (EBITDA) is used as a supplemental financial measure by Boardwalks management and by external users of Boardwalks financial…
MLPA 2017 Annual Investor Conference June 2017 Boardwalk Pineville Compressor Louisiana Dillsboro Compressor Midstream: Station Station Sulphur (Dillsboro, Indiana)Hub 28
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