Company Snapshot Building a leading oilfocused infrastructure business GEI 3.9B TSX LISTED MARKET CAPITALIZATION(1) 5.1B 15mm ENTERPRISE BARRELS OF VALUE(1) STORAGE(2) 1.0B S&P: BBB INFRASTRUCTURE CAPITAL DEPLOYED…
Oil Infrastructure Focused 75% of 2020E EBITDA from core Terminals & Pipelines and 80% Infrastructure 2020E EBITDA Breakout(1) OILSANDS 75% Terminals and Pipelines 80% Infrastructure EDMONTON TERMINAL 1.7 mmbbl existing…
Focused Strategy Premier oil infrastructure assets to underpin DCF per share and dividend growth Leverage Terminals Position Complementary Growth Terminals to represent 70% of Target deploying at least 200 300 EBITDA(1,2) Oil million…
Complete Transformation of Business Repositioned from diverse mix of business lines to focused energy infrastructure 2014(1,2) 2017(1,2) 2020E(2,3) 75% Terminals & 25% Terminals & Pipelines 55% Terminals & Pipelines Pipelines…
Hardisty Terminal BestinClass Connectivity Replicating Gibsons competitive position not possible and cost prohibitive Flexibility offered by Gibsons existing bestinclass connectivity provides a wide moat at Hardisty Key consideration…
Hardisty Terminal Competitive Advantages Replicating Gibsons competitive position not possible and is cost prohibitive Located at the heart of the Hardisty footprint Land Position 240 acres of land holdings adjacent to existing tankage…
Hardisty Terminal Overview Continue to grow at Hardisty at an attractive 5x 7x EBITDA build multiple COLD LAKE N HARDISTY TOP OF Additional Phases THE HILL Gibson connection to Expect sanction run rate to remain at 2 4 per…
DRU at Hardisty OnStrategy Infrastructure Highquality infrastructure project leveraging and extending Hardisty position 50%/50% joint venture between Gibson and U.S. Development Group (USD) First DRU in Agreement in place with…
DRU at Hardisty Full Market Access Solution Full market access solution to support construction of first DRU in Western Canada OIL SANDS 1 Bitumen production from the oil sands shipped as dilbit via pipelines to Gibsons Hardisty…
DRU Hardisty Location and Construction Potential mid2021 inservice at a cost of 200mm to 250mm net to Gibson(1) Targeting inservice date as early as the second quarter of 2021 Total capital cost of the initial phase, net to Gibson,…
Edmonton Terminal Edmonton Terminal an attractive cash flow stream, although smaller scale Edmonton Terminal benefits from advantageous positioning located next to two major refineries, access to both the CN and CP railway lines and…
U.S. Strategy Seek to establish a platform for longterm infrastructure growth in the U.S. CENTRAL BASIN Role in Portfolio PLATFORM ADDITIONAL LEG PLAINS BASIN IN SERVICE Q3 2020 PIPELINE N Longterm goal to create an WINK HUB…
Marketing Capabilities Creates value for customers and drives volumes to Gibsons Infrastructure assets Refined Products leases the Moose Jaw Facility from the Refined Infrastructure segment, sourcing feedstocks and marketing the…
Segment Profit Outlook Infrastructure to grow to 80% of total segment profit by 2020E Significant growth in the core Infrastructure segment over time, with a 20% CAGR between 2011 and 2020E Infrastructure expected to generate 300 320…
Distributable Cash Flow Outlook Sustained growth in core Infrastructure driving meaningful per share growth Distributable Cash Flow With Illustrative Breakout By Business(1) (C millions) 400 Line of sight to delivering DCF 2.50 CAGR…
Strong Financial Position Leverage and payout ratio currently below target ranges Obtained two Investment Grade ratings in 2019 New rating of BBB (low) with stable trend from DBRS Upgraded to BBB with stable outlook by S&P Longterm…
Contract Quality & Balance Sheet Comparison Attractive contract quality and bestinclass leverage relative to peer group Proportion TakeorPay & FeeforService(1) Net Debt / 2018A EBITDA(2) (%) (x) 100% 6.0x 80% 4.0x 60%…
Governing Principles Committed to maintaining a strong financial position by managing to key targets Committed Target Performance High Quality 80% segment profit from takeorpay and high Cash Flows Contract 80% by 2020E(1)…
Funding Position Through 2020 Fullyfunded for all sanctioned capital, with capacity to fund incremental growth 2018 & 2019 Sources and Uses(1,2) 2020 Sources and Uses (1,2,3) (C millions) (C millions) Meaningfully strengthened leading…
Growth Capital Outlook Longterm target of 200 to 300 million of Infrastructure growth per year Contract Structure Investment Outlook Hardisty & Longterm takeorpay and stable fee 2 4 tanks per year based, with weighted average…
LongTerm Capital Allocation Priorities Nearterm focus on remaining fullyfunded; steady dividend growth longerterm Target payout ratio of 70% 80% over the longterm Fund Dividend Fund the Business Dividend to be fully covered by…
Key Takeaways Continue to deliver on all facets of the strategy, with visibility to further growth Delivery Since January 2018 Investor Day Go Forward Deliverables Target investing 200mm 300mm per year Sanction 2 4 Tanks…
APPENDIX
2020 Capital Expenditure Budget Expected to be in the range of 275 million to 325 million Capital Outlook Expect to sanction 2 to 4 tanks a year on runrate basis in current environment Expect 275 325 million of Growth Capital in…
Capital Funding Approach and Maturity Profile Disciplined funding approach to ensure strong financial position LongTerm Funding Approach Maturity Profile(1) 800 (C millions) 3.0x 3.5x on 5.0x 7.0x 50% 60% Senior Unsecured…
Infrastructure Growth Capital Invested 1.75B in Infrastructure 20112020E, including 11.5 mmbbl of tankage Infrastructure Growth Capital Expenditure 2011A 2020E (C millions) 2020E 2019E 275 325 250 280 243 221 219 184 147 101 62…
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