Jefferies 2017 Energy Conference Houston, TX November 28-29, 2017
ORGANIZATIONAL OVERVIEW Buckeye owns and operates a diversified global network of integrated assets providing midstream logistic solutions, which generate stable and consistent cash flows Domestic Pipelines & Terminals LTM Adjusted…
SYSTEM MAP Chicago Complex NY Harbor Global network situated across major logistics hubs U.S. Gulf Coast Gulf Coast Chicago Complex Northwest Caribbean New York Harbor Fujairah Singapore Europe The Caribbean Northwest…
TRANSFORMATION SINCE 2010 Significant Geographic Diversification From Global Marine Terminals Segment Provides Acquisitions and Capital Investments Significant Diversification in Adjusted EBITDA(1) o Acquired over 75 domestic and…
DIVERSIFICATION DRIVES STABILITY 0% 3% Diversified portfolio generates stable, fee-based cash flows; over 95% of our September 30 YTD Adjusted EBITDA was fee-based PRODUCT DIVERSIFICATION 2010 Refined(1) 2017(3) 3% Crude…
VTTI B.V. OVERVIEW Acquisition Overview Buyout of MLP Public Unitholders o Buckeye acquired 50% of the equity interest in VTTI B.V. o In September 2017, VTTI acquired all of the publicly held (VTTI) from Vitol for 1.15 billion common…
BUCKEYES VTTI STRATEGY o Immediate world-wide presence with sizeable assets in key global hubs (ARA(3), Singapore, Middle East) Expand Our o High quality assets consisting of modernized terminals and newly constructed facilities, all…
RECENT DEVELOPMENTS AND QUARTERLY HIGHLIGHTS Buckeye reported last twelve months distribution coverage of 0.99x(1) Domestic Pipelines & Terminals Quarterly Adjusted EBITDA Performance(2) oContributions from increased pipeline and…
LOOKING FORWARD Consistent and predictable fee-based cash flows Expected equity needs through mid-2018 have across diversified global asset platform been satisfied through use of ATM program 2017 growth capital spend of approximately…
GROWTH CAPITAL PROJECTS DEVELOPMENT OF SOUTH TEXAS GATEWAY DISTRIBUTION CAPABILITIES o Preparing for open season in connection with construction of a 600-mile long-haul pipeline with origination points in Wink, Midland and Crane,…
GROWTH CAPITAL PROJECTS SOUTH TEXAS GATEWAY STRATEGIC RATIONALE oPermian Basin is one of the most prolific oil producing areas in the world oTakeaway capacity from this basin is expected to Buckeyes South Texas Gateway logistics be…
GROWTH CAPITAL PROJECTS MICHIGAN/OHIO EXPANSION Michigan/Ohio Expansion Phase One Complete Michigan/Ohio Expansion Benefits oRamping up service and expect the full earnings oMidwest refineries have been steadily increasing…
GROWTH CAPITAL PROJECTS DOMESTIC PIPELINES & TERMINALS GLOBAL MARINE TERMINALS oExpansion of Jacksonville, FL terminal to increase New York Harbor throughput capacity and provide ethanol by rail capabilities oFurther enhance…
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) 4.875 5.013 4.675 4.475 4.275 2013 2014 2015…
NON-GAAP RECONCILIATIONS
NON-GAAP FINANCIAL MEASURES Adjusted EBITDA and distributable cash flow are measures not defined by accounting principles generally accepted in the United States of America (GAAP). We define Adjusted EBITDA as earnings before interest…
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