EnerComs The Oil & Gas Conference Jeff Fulmer, Senior Vice President August 21, 2018 1
Disclaimer This presentation contains certain statements that may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements,…
Infrastructure assets have desirable investment characteristics Infrastructure REIT Strategy Overview Infrastructure assets are essential for our customers operations to produce revenue CorEnergys triple-net leases and other contracts…
Leveraging expertise across the energy value chain REIT qualifying assets include wires, pipes, storage and offshore platforms (Yellow flags represent assets currently owned by CORR) 4
Portfolio of essential assets CorEnergy assets critically support our partners in conducting their businesses in the U.S. energy industry Purchase Type Asset Description Price Location Pinedale Liquids Liquids gathering, processing…
Increasing opportunities for CorEnergys pipeline Oil and gas companies are: pursuing efficient, low-cost operations focusing on accessing low-cost of capital returning to growth and implementing capex projects Where are producers…
Financial flexibility poises CORR for growth CorEnergys capital structure remains conservative, providing financial flexibility to acquire assets Total Debt/Total Capitalization of 25% is at low end of 25-50% target ratio…
Outlook Active Deal Pipeline One to Two Acquisitions per Year Size Range of 50-250 Million Financing Optionality 160 million of Preferred Equity available liquidity1 Common Equity Bank Debt Co-Investors Convertible Debt…
APPENDIX 9
CorEnergy Senior Management Dave Schulte Rick Green Co-Founder, CEO & President Co-Founder, Executive Chairman Mr. Schulte has 27 years of investment experience, including Mr. Green has spent more than 30 years in the energy 18 years…
Grand Isle Gathering System 245 million midstream infrastructure asset on the Gulf of Mexico Shelf, critical to Energy XXI Gulf Coast1 operations Essential system to transport crude oil and produced water for large proven reserves…
Pinedale Liquids Gathering System 228 million asset, critical to operation of Ultra Petroleums Pinedale, Wyoming natural gas field 150 miles of pipeline, 107 receipt points, 4 above-ground facilities Triple-net operating lease;…
MoGas and Omega Pipelines MoGas Interstate Pipeline 125 million interstate natural gas pipeline operated by CorEnergy taxable REIT subsidiary, subject to intercompany mortgages 263-mile pipeline connecting natural gas supply to St.…
Portland Terminal 40 million purchase price, plus 10 million of CORR financed improvements 39-acre terminal to receive, store and deliver light and heavy petroleum products on Willamette River 84 tanks with 1.5 million barrels of…
Comparison of technical characteristics of infrastructure vehicles REIT structure provides more attractive access to energy infrastructure than MLP & Fund structures Institutional, tax exempt and non-U.S. investors desire access to…
Differentiated and larger investor audience for REITs than MLPs Utility & REIT markets are larger and more institutional than MLP MLPs Utilities REITs CorEnergy Market Cap: 325bn(1)(2) Market Cap: 1.2Tn(1)(2) Market Cap: 1.2Tn(1)(2)…
CORR has pioneered broad access to deep capital markets 161,000,000 41,000,000 Bank Debt Revolving Line of Project Level Debt for Credit Pinedale LGS Lead Banks: Prudential Financial July 2017 December 2012 56,300,000…
Terminal value conviction Grand Isle Pinedale LGS Portland Terminal MoGas Pipeline Omega Pipeline Gathering System Asset Ownership Long-lived assets, critical to tenant operations Criteria High barriers to entry with…
Corporate structure alignment with investors Corporate Structure External Fee Structure Management Fee Management Agreement Services provided: Assets Fees Presents the Company with suitable acquisition opportunities, responsible…
Non-GAAP Financial Metrics: FFO/AFFO Reconciliation NAREIT FFO, FFO Adjusted for Securities Investment and AFFO Reconciliation For the Three Months Ended For the Six Months Ended June 30, 2018 June 30, 2017 June 30, 2018 June 30,…
Non-GAAP Financial Metrics: FFO/AFFO Reconciliation (cont.) For the Three Months Ended For the Six Months Ended June 30, 2018 June 30, 2017 June 30, 2018 June 30, 2017 Add: Provision for loan losses, net of tax 500,000 Transaction…
Non-GAAP Financial Metrics: FFO/AFFO Reconciliation (cont.) For the Three Months Ended For the Six Months Ended June 30, 2018 June 30, 2017 June 30, 2018 June 30, 2017 Weighted Average Shares of Common Stock Outstanding: Basic…
Non-GAAP Financial Metrics: Fixed-Charges Ratio Ratio of Earnings to Combine Fixed Charges and Preferred Stock Dividends For the Six Months Ended June 30, For the Years Ended December 31, 2018 2017 2016 2015 2014 Earnings: Pre-tax…
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