Annual Meeting of Limited Partners Houston, TX June 4, 2019
LEGAL NOTICE / FORWARD-LOOKING STATEMENTS Additional Information and Where to Find It This presentation may be deemed to be solicitation material in respect of the proposed acquisition of Buckeye Partners, L.P. (the Partnership,…
LEGAL NOTICE / FORWARD-LOOKING STATEMENTS These statements discuss future expectations and contain projections. Specific factors that could cause actual results to differ from those in the forward-looking statements include, but are…
ENVIRONMENTAL, SOCIAL & GOVERNANCE INITIATIVES Buckeye is excited to announce the launch of its Environmental, Social & Governance (ESG) reporting initiative. Please visit our website at www.bplesg.com. Key Areas of Focus oWho…
WHO WE ARE Who We Are At Buckeye o Our History - Buckeye Partners is the oldest independent liquid petroleum pipeline operator in the United States. o Our People - We pride ourselves on safely providing industry-leading service to…
SAFETY COMMITMENT Think Safe, Work Safe, Leave Safe L.I.V.E. Safe Buckeye is fully committed to the safety of our employees, contractors and the communities in which we operate Buckeyes L.I.V.E. Safe Program Buckeyes L.I.V.E.…
ENVIRONMENTAL STEWARDSHIP Environmental stewardship is the responsible use and protection of the natural environment through conservation and sustainable practices Buckeyes Areas of Focus oEmissions Controls oWaste Minimization…
ORGANIZATIONAL OVERVIEW Buckeye owns and operates a diversified network of integrated assets providing midstream logistic solutions, and is committed to a strong balance sheet with an investment grade credit rating and financial…
SYSTEM MAP Chicago Complex NY Harbor Gulf Coast Caribbean Diversified network of assets situated across three major domestic hubs and the Caribbean Copyright 2018 Buckeye Partners, L.P. 10
STRATEGIC REVIEW On November 2, 2018, Buckeye announced the outcome of its strategic review Situation Analysis Objectives o Increased need for capital based on attractive investment o Maintain investment grade credit rating by…
IFM TRANSACTION HIGHLIGHTS TRANSACTION OVERVIEW Buckeye to be acquired by IFM Investors for 41.50 per unit Valued at 10.3 billion enterprise value and 6.5 billion equity value Represents a 27.5% premium to Buckeyes closing unit…
IFM TRANSACTION NEXT STEPS APPROVALS AND CLOSING Expected to close in the fourth quarter of 2019 Subject to unitholder and regulatory approvals and customary closing conditions Proxy statement will be filed this month Until the…
NON-GAAP RECONCILIATIONS
NON-GAAP FINANCIAL MEASURES Adjusted EBITDA and distributable cash flow are not measures 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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