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4Q 2017 Earnings Presentation – Shell Midstream Partners Lp

Shell Midstream Partners Lp · Feb 27, 2018 · 15 slides

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Slides

  1. 4Q 2017 Earnings Presentation – Shell Midstream Partners Lp – slide 1
    Shell Midstream Partners, L.P. (SHLX) Q4 2017 Results February 27, 2018 Shell Midstream Partners 1
  2. 4Q 2017 Earnings Presentation – Shell Midstream Partners Lp – slide 2
    Summary Q4 Results: Underlying performance strong, asset acquisition completed Revenue up 32 million Adjusted EBITDA up 27 million CAFD up 13 million Delivering 20% CAGR for 2017-2018 Distribution up 4.7% against third quarter…
  3. 4Q 2017 Earnings Presentation – Shell Midstream Partners Lp – slide 3
    Shell Midstream Partners: Same Strategy, Continued Delivery RESILIENT DIVERSIFIED SUSTAINABLE FRAMEWORK PORTFOLIO GROWTH Strong support from Shell High-quality assets Strong and ratable cash complementing Shells flows Financial…
  4. 4Q 2017 Earnings Presentation – Shell Midstream Partners Lp – slide 4
    Delivering Growth: 825 Million Asset Acquisition Extending Our Reach to Support the Shell Portfolio Strategic Products Terminals Anacortes, Colex, Des Plaines, Portland, Seattle Shell-backed, exclusive use, take-or-pay contract…
  5. 4Q 2017 Earnings Presentation – Shell Midstream Partners Lp – slide 5
    Mars System: Well Positioned for Continued Growth Total capacity of 600kbpd, with about 80% currently utilized Approximately 60% of current volume has no outlet other than Mars Pipeline Continued growth opportunities Kaikias, Vito,…
  6. 4Q 2017 Earnings Presentation – Shell Midstream Partners Lp – slide 6
    Building Scale with High Quality Midstream Assets: Expected End of Year Portfolio of Assets As of February 27, 2018 Offshore Onshore Ownership % Ownership % Pipelines Pipelines Auger 100.0% Bengal 50.0% Cleopatra 1.0% Colonial…
  7. 4Q 2017 Earnings Presentation – Shell Midstream Partners Lp – slide 7
    Operational Results Zydeco Mainline Throughput Volume, kbpd Offshore Throughput Volume, kbpd +5% 1,538 700 628 649 78 1,363 616 600 Offshore 257 26 1,158 Onshore 240 500 Auger 105 Poseidon 273 480 400 449 300 Mars 396 200…
  8. 4Q 2017 Earnings Presentation – Shell Midstream Partners Lp – slide 8
    Financial Results from Operations Three Months Ended ( million) December 31, 2017 September 30, 2017 Revenue 126.8 94.4 Cost and Expenses 70.3 56.3 Operating Income 56.5 38.1 Income from Equity Investments 46.1 41.2 Dividend Income…
  9. 4Q 2017 Earnings Presentation – Shell Midstream Partners Lp – slide 9
    Non GAAP Financial Metrics Three Months Ended ( million except per unit amount) December 31, 2017 September 30, 2017 Adjusted EBITDA Attributable to SHLX (1) 118.7 92.2 Less: Net Interest Paid 10.3 9.7 Maintenance Capital…
  10. 4Q 2017 Earnings Presentation – Shell Midstream Partners Lp – slide 10
    Balance Sheet ( million) As of December 31, 2017 Cash and Cash Equivalents 138 Total Debt Outstanding 1,844 Total Credit Facilities (Inc. Zydeco) 2,390 Liquidity Available 543 Shell Midstream Partners 11
  11. 4Q 2017 Earnings Presentation – Shell Midstream Partners Lp – slide 11
    Closing Remarks Shell Midstream Partners 12
  12. 4Q 2017 Earnings Presentation – Shell Midstream Partners Lp – slide 12
    Questions and Answers For further questions, please contact Courtney Selinidis +1 832 337 0881 Courtney.SelinidisShell.com Shell Midstream Partners 13
  13. 4Q 2017 Earnings Presentation – Shell Midstream Partners Lp – slide 13
    Shell Midstream Partners
  14. 4Q 2017 Earnings Presentation – Shell Midstream Partners Lp – slide 14
    Appendix 2 Shell Midstream Partners 16
  15. 4Q 2017 Earnings Presentation – Shell Midstream Partners Lp – slide 15
    Delivering Growth A track record of ratable growth for 3 years Distribution Growth & Coverage 0.3180 0.3330 0.2910 0.3041 0.2638 0.2770 0.2500 0.2350 0.2200 +96% 0.2050 0.1900 0.1625 0.1750 1.3x 1.1x 1.2x 1.1x 1.4x 1.4x 1.6x…

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