QUARTERLY REPORT 4Q19 AND FULL-YEAR 2019 RESULTS February 25, 2020 FOCUS ON PEOPLE STRIVE FOR EXCELLENCE BE ETHICAL DELIVER RESULTS BE GOOD STEWARDS
INDEX 4Q19 & FY 2019 Results......6 2020 Outlook..................9 Appendix..................20 FOCUS ON PEOPLE STRIVE FOR EXCELLENCE BE ETHICAL DELIVER RESULTS BE GOOD STEWARDS
LARGE, INTEGRATED MIDSTREAM PLATFORM Premier production basins connected to key demand centers --------------------------- Our Footprint --------------------------- Permian Louisiana Oklahoma North TX ------------- Service Type…
STRATEGIC SUSTAINABILITY INITIATIVES Long-term commitment to sustainability generates value for our stakeholders Environmental Social Safety Governance Executing: Focusing on: Upholding: Prioritizing: Emission reduction Community…
4Q19 / FY19 RESULTS & RECENT UPDATES Strong quarterly cash flow driven by record NGL volumes and seasonality Recent Updates MM, unless noted 4Q19 FY19 Achieved Record Quarterly Adj. EBITDA Adjusted EBITDA increased 11% (4Q19 vs Net…
SEGMENT PROFIT OVERVIEW Diversified platform driving significant, reliable cash flow Recent Highlights Segment (MM) 4Q18 1Q19 2Q19 3Q19 4Q19 Permian Permian Gas 25.4 27.8 27.2 28.3 30.4 Record natural gas gathering and processing…
2019 CAPITAL EXPENDITURES Growth capital expenditures below low-end of 2019 guidance Below Low-End of Guidance1 2019 Capital Expenditures1 GCE, net to EnLink Diversified Base of Investments1 Segment 4Q19 FY19 FY19: 600MM Below…
2020 Outlook
2020 FINANCIAL GUIDANCE Generating excess free cash flow and strengthening financial position MM, unless noted 2020 Guidance Growing Adjusted EBITDA to 1.1 Billion Expecting 2020 adjusted EBITDA, net to Net Income1 160 230 EnLink,…
2020 SEGMENT GUIDANCE Diversified footprint provides stability, strong cash flows and growth opportunities 2020 Segment Profit Guidance Segment Capital Segment Profit Less Capital % vs. % of Segment MM Low Mid High % of Total2…
DISCIPLINED CAPITAL INVESTMENT Executing a diverse set of growth projects with low target multiples 2020 Total Capital Expenditures, Net to…
PERMIAN: GROWTH OUTLOOK Producers continue solid production pace on EnLinks footprint +35-50% growth in 2020 Further growth in 2021+ Growth underpinned by strong rig activity1 Midland gas 13 rigs Delaware gas 6 rigs on dedicated…
LOUISIANA: LONG-TERM GROWTH OUTLOOK Leveraging our downstream platform to supply growing demand LEADING ASSET BASE IN LOUISIANA, SUPPORTIVE GLOBAL MARKET TRENDS FOCUSED ON LONG-TERM GROWTH Growing U.S. hydrocarbon exports, especially…
OKLAHOMA OUTLOOK Improving capital efficiency supports free cash flow in 2020 Decreasing Capital Spend Per Well Connect Shifting Producer Well Connections Stable segment profit supports growing segment free cash flow Expecting to…
FINANCIAL STRATEGY DELIVERS EXCESS FREE CASH FLOW Self-funding adjusted EBITDA growth and excess free cash flow build Excess Free Cash Flow Modest growth vs. 2019 1,100 40 1 45 Maintenance capex, net to EnLink 2 Growth capex,…
LEADING EXCESS FREE CASH FLOW POSITION Financial strategy supports leading midstream position Excess Free Cash Flow as % of Distributable Cash Flow (2020)1 11% 5% 3% EnLink delivers -2% top-tier excess -5% free cash flow…
AMPLE FINANCIAL FLEXIBILITY Strengthening financial position and decreasing leverage Debt Maturity Schedule (MM) Total Capital Expenditures, net to EnLink No planned capital market activity in 2020; no near- High capital December…
LEADING INTEGRATED MIDSTREAM PLATFORM Operational excellence driving opportunities over the long-term Leading 8.5 billion enterprise value1, Fortune 500 company Integrated Delivering significant growth in the Permian Midstream…
Appendix
MIDLAND PLATFORM Midland Overview Multi-commodity strategy 530 MMcf/d Midland Basin processing capacity expected by end of 2020: o 5 processing facilities in operation o Series of highly-efficient de- bottlenecking and capacity…
DELAWARE PLATFORM Delaware Overview Multi-commodity strategy 575 MMcf/d Delaware Basin operating processing capacity expected in 2020: o 1 processing facility in operation today with 375 MMcf/d capacity o Incremental 200…
LOUISIANA PLATFORM Louisiana Overview Positioned to supply growing demand market 5 Gulf Coast fractionators o 200 Mbbl/d of fractionation capacity in Louisiana o 56 Mbbl/d of fractionation capacity in Mont Belvieu 710 MMcf/d…
CENTRAL OKLAHOMA PLATFORM Central Oklahoma Overview Size, Scale & Diversification Operating 1.2 Bcf/d of Central Oklahoma gas processing capacity to support STACK development 2,000 miles of pipeline EnLink Midstream 4Q 2019…
NORTH TEXAS PLATFORM North Texas Overview Anchor position in the Barnett 1.2 Bcf/d operating natural gas processing capacity o 2 operating natural gas processing facilities 15 Mbbl/d of fractionation capacity 4,200 miles of…
ENLINK ORGANIZATIONAL STRUCTURE Public ENLC Global Infrastructure Holders Partners (GIP) Non-economic managing interest 48% 41% EnLink Midstream Class C Unitholders1 Manager, LLC 11% non- economic interest EnLink Midstream,…
QUARTERLY SEGMENT PROFIT & VOLUMES AS PRESENTED WITH 2019 REPORTING SEGMENTS Three Months Ended amounts in millions unless otherwise noted Dec. 31, 2018 Mar. 31, 2019 Jun. 30, 2019 Sept. 30, 2019 Dec. 31, 2019 Permian Segment Profit…
RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO EXCESS FREE CASH FLOW OF ENLC Three Months Ended Year-Ended (All amounts in millions) 3/31/2019 6/30/2019 9/30/2019 12/31/2019 12/31/2019 Net cash provided by operating…
RECONCILIATION OF NET INCOME (LOSS) TO EXCESS FREE CASH FLOW OF ENLC Three Months Ended Year Ended (All amounts in millions) 3/31/2019 6/30/2019 9/30/2019 12/31/2019 12/31/2019 Net income (loss) (134.8) 9.1 37.5 (911.4) (999.6)…
RECONCILIATION OF ENLCS OPERATING INCOME (LOSS) TO GROSS OPERATING MARGIN OF ENLC (All amounts in millions) Q4 2019 YTD Permian North Texas Oklahoma Louisiana Corporate Totals Operating loss (760.8) General and administrative…
RECONCILIATION OF ENLCS OPERATING INCOME (LOSS) TO GROSS OPERATING MARGIN OF ENLC Q2 2019 Permian North Texas Oklahoma Louisiana Corporate Totals Operating income 53.1 General and administrative expenses 32.2 Depreciation and…
FORWARD LOOKING RECONCILIATION OF NET INCOME TO EXCESS FREE CASH FLOW OF ENLC 2020 Outlook 1 (All amounts in millions) Low Midpoint High Net income of EnLink (2) 160 195 230 Interest expense, net of interest income 220 225 230…
FORWARD LOOKING RECONCILIATION OF SEGMENT PROFIT ADJUSTED FOR FORECASTED CAPITAL EXPENDITURES OF ENLC 2020 Outlook 1 (All amounts in millions) Permian Louisiana Oklahoma North Texas Segment profit 210 310 445 250 Capital…
NON-GAAP FINANCIAL INFORMATION, OTHER DEFINITIONS, AND NOTES (CONT.) Other definitions and explanations of terms used in this presentation: 1. ENLK Series B Preferred Units means Series B Cumulative Convertible Preferred Units of EnLink…
ENLINK.COM FOCUS ON PEOPLE STRIVE FOR EXCELLENCE BE ETHICAL DELIVER RESULTS BE GOOD STEWARDS
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