Company Snapshot Building a leading oil-focused infrastructure business GEI 2.7B TSX LISTED MARKET CAPITALIZATION(1) 3.9B 14mm ENTERPRISE BARRELS OF VALUE(1) STORAGE(2) 500mm 1.32 SANCTIONED ANNUAL DIVIDEND…
Oil Infrastructure Focused On Growth Basins Existing footprint provides exposure to the key North American growth basins Canadian Oil Production by Basin (million barrels per day) OILSANDS 5.5 4.5 MONTNEY 3.5 EDMONTON…
Focused Strategy Premier oil infrastructure assets to underpin DCF per share and dividend growth Leverage Terminals Position Complementary Growth Terminals expected to represent Basin strategy targeting oil sands, 75% of EBITDA(1,2)…
Complete Transformation of Business Repositioned from diverse mix of business lines to focused energy infrastructure 2014 2017 2019E PF(1) 25% 65% 75% Segment T&P EBITDA(1) From T&P and Infrastructure 35% 75% 85% Infra. 15%…
Competitive Advantages at Hardisty Land position, connectivity and rail access provide wide moat at Hardisty Flexibility offered by existing connectivity to both inbound and outbound pipelines as well as exclusive access to only unit…
Expansion at Hardisty Terminal Replicating Gibsons competitive position not possible and cost prohibitive COLD LAKE KEYSTONE TERMINAL HARDISTY WEST HARDISTY EAST Gibson connection to Additional Phases 180 mbbl/d rail…
Edmonton Terminal Recently expanded to 1.7mm barrels, with footprint to triple capacity Edmonton Terminal benefits from advantageous positioning located next to both the CN and CP railway lines and near both major egress pipelines…
Future Tankage Demand Expect to sanction 2 to 4 tanks a year on run-rate basis in current environment Expect majority of new tankage in Western Canada will be built at Hardisty Tankage demand over the longer-term to be driven by…
Incremental Growth to Reach 10% a Year Target Continue to see opportunities for meaningful additional growth beyond tanks Add inbound/outbound pipeline connections or expand Hardisty rail facility to provide more flexibility for…
Terminal Growth Beyond Tanks Ancillary terminal infrastructure remains a meaningful growth opportunity Pipeline Connections Facility Optimization Add inbound/outbound connections Working with customers to develop to provide…
Canadian Pipelines Expanding network with 50 million Viking Pipeline Project in-service Q1 2019 Map of Gibson Pipeline Network Canadian Pipelines Overview R10 R10 R5 R1W4 With Viking Pipeline Project, will have over 500 km of 100%…
Moose Jaw Facility Achieved cost reductions and sanctioned high-impact expansion project Realized meaningful cost reductions in operating expenses and maintenance capital, and have shifted towards lower cost crude slates to maximize…
U.S. Growth Plan Outlined at Investor Day Acceleration of U.S. strategy delivers original plan 18 24 months earlier Experience and relationships viewed as critical component to success in U.S. Targeting 1 Hire U.S. Team Hired Chief…
Growing U.S. Platform Footprint located at the heart of the Permian and SCOOP / STACK plays Pyote System expected to reach 12,000 barrels a day of throughput in near term, with visibility to grow to 20,000 25,000 barrels a day from…
Permian Infrastructure Strategy Will continue to expand Pyote, creating infrastructure investment opportunities Place the Expanded Pyote System PLAINS BASIN PIPELINE into Service WINK HUB Existing Pyote system capable of service…
Non-Core Divestiture Process Ahead of schedule, with proceeds likely at high end of 275 375 million range 2018 2019 Segment Q1 Q2 Q3 Q4 Q1 Q2 Transaction Closed Q1 2017 Industrial Propane U.S. Environmental Transaction…
Contract Structure Composition Approaching 85% of cash flows from high quality contract structures Significant shift in quality of cash flow in last 3 - 5 years, with high-quality contract structures currently representing about…
Contract Quality & Balance Sheet Comparison Attractive contract quality and leverage relative to peer group Proportion Take-or-Pay & Fee-for-Service Net Debt / 2018E EBITDA (%) (x) 100% 6.0x 80% 4.0x 60% 40% 2.0x…
Sources and Uses Fully funded for currently sanctioned capital, with cushion continuing to build Consistent with the funding strategy outlined at Investor Day, dividend to be fully covered by distributable cash flow, with capital…
Potential Growth Trajectory Existing platform offers line of sight to projects to reach 10%+ annual growth Line of sight to grow continuing business at above target 10% growth rate through 2020 based on secured growth under…
Strong Financial Position Leverage and payout ratio currently within target ranges Stronger contribution from Wholesale has pushed down leverage and payout much faster than initially anticipated While the supportive environment for…
Key Takeaways Continue to Deliver Dramatic Transformation High-Quality Oil Infrastructure Visibility to Growth Near-Term Platform for 10%+ Growth Longer-Term Strong Financial Position 23
GIBSON ENERGY INVESTOR PRESENTATION APPENDIX
2019 Capital Expenditure Budget Expected to be in the range of 200 million to 250 million Growth Capital Sanctioned capital for 2018 and 2019 of approximately 500mm (Cmm) Exceeds high end of target range required to Hardisty…
Governing Principles Committed to maintaining a strong financial position by managing to key targets Long-Term Governing Financial Principles High Quality 80% segment profit from take-or-pay and high-quality fee-for-service Cash…
Capital Funding Approach and Maturity Profile Disciplined funding approach to ensure strong financial position Capital Funding Approach Maturity Profile (C millions) Fund Growth with 800 Disposition Proceeds Maximum 50% -…
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