ENERGY TRANSFER Investor Presentation November 2019
ET KEY INVESTMENT HIGHLIGHTS Growth From Organic Well Positioned Assets Solid Financials Investments Fully integrated platform Completing multi-year Stable cash flow profile spanning entire midstream capex program with minimal…
DELIVERING ON ALL FRONTS Operational Q3 2019 Financials Strategic All segments delivered strong Adjusted EBITDA - 2.8 billion SEMG transaction adds results strategic growth platform in Up 8% from Q318 deep-water port on the…
CAPEX OUTLOOK QUICKER CASH GENERATION CYCLE 2019E Growth Capital: 4 billion Reduced CAPEX guidance from previous estimate by 600-800 million 2019E Adjusted EBITDA increased to 11.0 billion to 11.1 billion Excess cash flow, as well…
SEMG ACQUISITION HIGHLIGHTS Immediately Accretive Premier U.S. Gulf Coast Transaction With No Material Terminal With Stable, Take- Credit Impact or-Pay Cash Flows Generates an Aggregate 500MM of DCF 18.2 MMBbl Crude Storage Capacity…
ET & SEMG COMPLEMENTARY ASSETS Expands Crude Oil Asset Footprint Strategic franchise-quality position on the Houston Ship Channel Will provide connectivity along the U.S. Gulf Coast and throughout ETs system Increases reach into…
TRANSFORMING UNDERUTILIZED ASSETS Mont Belvieu 2011 Mont Belvieu 2019 Fracs Frac VI IV & V Frac VIII Frac VII Frac I Frac II Export De-C2 Proposed Lone Star Frac I Frac III Fractionators: 0 Fractionators: 6…
TED COLLINS PIPELINE - A STRATEGIC CONNECTION ON THE U.S. GULF COAST 75-mile pipeline to connect the Houston Ship Channel and ETs Nederland Terminal Will provide best-in-class access to multiple markets Houston Beaumont/Port…
SUCCESSFUL ACQUISITION TRACK RECORD HPL TUFCO Houston Pipeline Co. 2004 2005 2006 2011 2012 2012 2012 2014 2015 2016 2017 ET Management has a proven track record of successfully integrating acquisitions Knowledge of…
CAPITAL ALLOCATION CONTINUED FOCUS ON RETURNS Organic Unit Buy- Distribution Debt Projects backs Increases Retirements Maintain strong investment grade balance sheet Leverage target: 4.0 Continued improvement in debt metrics…
DIVERSIFIED EARNINGS MIX WITH PRIMARILY FEE-BASED BUSINESS Segment1 Contract Structure Strength Q3 2019 Adjusted EBITDA by Segment1 More than 9,300 miles connecting Permian, Fees from transporting SUN, USAC Crude Oil Bakken and…
FULLY INTEGRATED PLATFORM SPANNING THE ENTIRE MIDSTREAM VALUE CHAIN Involvement in Major Midstream Themes Across the Best Basins and Logistics Hubs Franchise Strengths Opportunities Access to multiple shale plays, storage…
SIGNIFICANT MANAGEMENT OWNERSHIP Insider Ownership Insider Ownership vs Peers vs Major Indices Kelcy ETWarren Unit CEO Unit Purchases Purchases 16% 10,000 9,504 14.5% 9.5mm units in last 12 months 9,000 14% 8,000 3,464…
FORESEE SIGNIFICANT EBITDA GROWTH IN 2019 FROM COMPLETION OF PROJECT BACKLOG PROJECT SCOPE IN-SERVICE TIMING NGL & Refined Products Lone Star Frac VI 150 Mbpd fractionator at Mont Belvieu complex In service Q1 2019 Lone Star Frac VII…
CRUDE OIL SEGMENT BAKKEN PIPELINE PROJECT Bakken Pipeline System1 1,915 mile system connecting Bakken production to ETs Nederland terminal on the Gulf Coast Placed into service June, 2017 Recently completed successful open…
CRUDE OIL SEGMENT PERMIAN EXPRESS PIPELINES Permian Express 1 Permian Express 2 16-inch, 380-mile pipeline 20- & 24-inch, 400-mile pipeline 150,000 barrels per day of capacity 230,000 barrels per day of capacity Provides…
NGL & REFINED PRODUCTS SEGMENT MARINER EAST SYSTEM Comprehensive Marcellus/Utica Shale solution reaching local, regional and international markets Provides NGL transportation from OH / Western PA to the Marcus Hook Industrial…
NGL & REFINED PRODUCTS SEGMENT ORBIT ETHANE EXPORT PROJECT Orbit Export Pipeline and Facility Orbit Pipeline JV Orbit Joint Venture with Satellite Petrochemical USA Corp includes construction of a new ethane export terminal on the…
NGL & REFINED PRODUCTS SEGMENT PIPELINE AND FRACTIONATION EXPANSION Lone Star Express Expansion Mont Belvieu Fractionation Expansions Total of 6 fractionators at Mont Belvieu 24-inch, 352-mile expansion 150,000 bbls/d Frac VI went…
MIDSTREAM SEGMENT PERMIAN BASIN INFRASTRUCTURE BUILDOUT ET is nearing capacity in both the Delaware and Midland Basins due to continued producer demand and strong growth outlook in the Permian As a result of this demand, ET has…
RENEWED COMMITMENT TO DEVELOP LAKE CHARLES LNG EXPORT TERMINAL Export Project Executed Project Framework Agreement in March 2019 Issued Invitation to Tender to U.S. and international consortia to bid for Engineering, Procurement…
APPENDIX
CRUDE OIL SEGMENT Crude Oil Pipelines Crude Oil Acquisition & Marketing 9,524 miles of crude oil trunk and gathering lines located in the Southwest and Crude truck fleet of approximately 370 trucks Midwest United States Purchase…
NGL & REFINED PRODUCTS SEGMENT NGL Storage NGL Pipeline Transportation Fractionation TET Mont Belvieu Storage Hub 46 million 4,750 miles of NGL Pipelines 6 Mont Belvieu fractionators (up to 790 Mbpd) barrels NGL storage throughout…
MIDSTREAM SEGMENT Midstream Asset Map Midstream Highlights Volume growth in key regions: Q3 2019 gathered volumes reach a record 14 million mmbtu/d, and NGLs produced were 574,000 bbls/d Permian Capacity Additions: 200 MMcf/d…
INTERSTATE PIPELINE SEGMENT Interstate Asset Map Interstate Highlights Our interstate pipelines provide: Stability Approximately 95% of revenue is derived from fixed reservation fees Diversity Rover Access to multiple shale…
INTRASTATE PIPELINE SEGMENT Intrastate Asset Map Intrastate Highlights Continue to expect volumes to Mexico to grow, particularly on Trans-Pecos and Comanche Trail pipelines Have seen an increase in 3rd party activity on both of…
NON-GAAP RECONCILIATION Pro Forma for Mergers Full Year 2018 2019 2017 Q1 Q2 Q3 Q4 YTD Q1 Q2 Q3 YTD Net income 2,366 489 633 1,391 852 3,365 1,180 1,208 1,161 3,549 (Income) loss from discontinued operations 177 237 26 2 - 265 - - -…
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