INVESTOR PRESENTATION Q3 2018 EARNINGS OCTOBER 2018 NYSE: HCLP hicrush.com
Business Update
A Differentiated Platform for Growth We provide our customers with the high-quality, cost-effective proppant and logistics services they require, when and where needed MINE. MOVE. MANAGE. 17.3mm TPY pro-forma Largest owned and…
MINE: Capacity to Meet Customer Needs Wyeville Blair Augusta Whitehall3 Kermit + Kermit 2 Capacity1 2.70mm TPY 2.86mm TPY 2.86mm TPY 2.86mm TPY 6.00mm TPY Northern Northern Northern Northern Permian Type White White White White…
MOVE: Owned and Operated Logistics Network Wisconsin Logistics Network Bakken Augusta Provides flexibility to address changing demand dynamics, Blair allows for increased profitability Whitehall from third-party sand…
MANAGE: Flexible Solutions for Our Customers E&P MINE. MOVE. MANAGE. Customer Priorities Our ability to offer customers the option of container- and silo-based last mile Surety of solution enables optimization of logistics for each…
Remaining Proactive in Our Evolution STRATEGIC FINANCIAL STRUCTURAL July 2018: Acquired FB July 2018: Announced October 2018: Simplified Industries, expanding our private placement of Hi-Crushs partnership last mile offering; the…
Q3 2018 Operational Highlights Q3 2018 Statistics Quarterly Highlights Success in Direct Sales to E&Ps 40% 81% Volumes sold direct to E&Ps increased Volumes sold direct to 16%, demonstrating continued Volumes sold in-basin E&Ps…
Temporary Demand Softness Impacting Sales Volumes HCLP Quarterly Volumes Sold Q3 2018 volumes of 2.8mm tons represents Q4 2018 volumes expected to total 13% YoY increase but 9% sequential decrease, 2.3 2.5mm tons; activity growth,…
Structural Simplification
Simplifying Hi-Crushs Corporate Structure Transaction Overview Strategic Benefits Hi-Crush Partners LP (HCLP) acquired Hi- Conserves cash and further strengthens Crush Proppants LLC (Sponsor) for balance sheet in current, temporarily…
Simplified Hi-Crush Partnership Structure Pre-Simplification Current Partnership Structure Non- Avista Capital Management Management Partners and LP Unitholders1 Founders and Co-Investors Directors 5% of Outstanding LP Units…
The Path to Corporate Conversion Simplify Current Corporate Structure Remove structural hurdles to conversion and align interests of management and the unitholders Determine Optimal Conversion Structure Due diligence to determine…
Financial Results & Outlook
2018 Guidance Update Metric Guidance Value1 Period Quarterly sales volumes 2.3 2.5 million tons Q4 2018 PropStream crews and FB systems 20+ PropStream crews, 15 20 FB silo systems 2018 exit Total capital expenditures 155 165 million…
Key Financial Metrics in 000s, except per ton Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Revenues 167,583 216,456 218,113 248,520 213,972 Adjusted EBITDA1 41,706 59,025 64,464 81,486 50,583 Average selling price (/ton) 68 71 73 70 64…
Q3 2018 Summary Statements of Operations Unaudited Quarterly Consolidated Statements of Operations (Amounts in thousands, except per unit amounts) Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Revenues 167,583 216,456 218,113 248,520…
Q3 2018 Summary EBITDA, Adjusted EBITDA, DCF Unaudited EBITDA, Adjusted EBITDA and Distributable Cash Flow (Amounts in thousands) Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Reconciliation of distributable cash flow to net income: Net…
Fortress Balance Sheet Strong liquidity and financial flexibility, no maturities before 2022 and no maintenance covenants in 000s June 30, 2018 September 30, 2018 Cash 25,433 175,430 Revolver/ABL - - Term loan1 193,741 - Senior…
Investor Contacts Investor Relations Contacts Caldwell Bailey, Lead Analyst, Investor Relations Marc Silverberg, ICR (713) 980-6270 IRhicrush.com 21
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