Barclays Midstream & Infrastructure Corporate Access Days Conference March 2020
Key Investment Considerations Market Leading Businesses with High Barriers to Entry 1 Genesis is a market leader in four critical businesses (1) Deepwater Gulf of Mexico (GOM) pipeline transportation, (2) Producer & marketer of U.S.…
Market Leading Businesses / High Barriers to Entry Genesis Total LTM Offshore Pipeline Transportation Segment Margin 713 MM(a) Practically irreplaceable integrated asset footprint focused on transporting crude oil produced from the…
Diversified & Long-Life Infrastructure Assets Key Business Fundamentals Long-Life Infrastructure Assets Offshore Pipeline Transportation Deepwater crude oil production growth 2,400 miles of pipelines and platforms focused on deepwater…
Operating Leverage with Minimal Capital Required Growth Drivers Operating Leverage Offshore Pipeline Transportation Anticipated increase in Gulf of Mexico crude oil Existing connectivity and excess capacity to capture volumes driving…
Improving Financial Fundamentals & Guidance Current Business Segment Outlook Offshore Pipeline Sodium Minerals & Onshore Facilities & Marine Transportation Sulfur Services Transportation Transportation Finalizing agreements to move…
2020 Estimated Cash Obligations We identity recurring cash obligations for 2020 totaling 2020 Estimated Cash Obligations approximately 620 million Recurring: Recurring Cash Obligations Cash Taxes Cash Taxes 600 Senior Secured…
Unitholder Alignment / Long-Term Value Creation Unitholder Alignment Long-Term Value Creation NO incentive distribution rights (IDRs) with non-economic Management has a track record of acquiring and developing General Partner (no…
Business Segment Detail
Offshore Pipeline Transportation Overview Acquired World Class Footprint in Leading North American Basin Long-Term Value Creation Stability and Future Growth Beginning in 2010 with the acquisition of CHOPS, 1,000 Historical CHOPS &…
Case Study: Poseidon Oil Pipeline Irreplaceable Crude Oil Pipeline in the Central Gulf of Mexico Poseidon Oil Pipeline is a high barrier to entry pipeline transporting Steady Volumes Through Commodity Cycles central Gulf of Mexico…
Buckskin Development Overview Meaningful EBITDA Contribution with No Capital Requirements Achieved first oil in June 2019; developing field with two phase I wells with target production rate of 30kbd(a) 100% of production for the life…
Offshore Pipeline Transportation Asset Summary Leading Gulf of Mexico Midstream Service Provider Deepwater to Shore Crude Oil Pipeline Solutions 2,400 miles of pipelines and associated platforms primarily located in the Central Gulf of…
Gulf of Mexico Crude Oil Production Continued Growth in the Deepwater Gulf of Mexico Crude Oil Production(a) Deepwater Gulf of Mexico crude oil production has increased by 59% since 2013 and total Gulf of Mexico crude oil production is…
Central Gulf of Mexico Overview Robust Inventory of Future Growth Ram Powell Petronius Stonefly Horn Mountain Delta House Nearly Headless Nick Selected Recent Developments / Key FID Field Producer First Oil Lobster…
Central Gulf of Mexico Midstream Dynamics Uniquely Positioned with Available Capacity to Capture Additional Volumes CHOPS / Poseidon Available Capacity to Shore(a) Uniquely positioned with maximum optionality and available capacity to…
Sodium Minerals Overview Largest North American Producer of Low Cost Natural Soda Ash Market leading position with highly consistent cash flow profile Genesis has Largest Trona Lease Holding in U.S. and significant barriers to entry 4…
Soda Ash Market Summary Supply / Demand Balance Expected to Remain Tight over Long-Term Turkey expansion (Kazan) 2.5 million metric tons per year Historical U.S. Natural Soda Ash Pricing(a) fully absorbed by market 160 No significant…
Soda Ash Demand Drivers Growing Global Demand (Ex. China) Driven by Emerging Middle Class Soda ash demand is driven by a diversified set of global end Diversified Global End-Markets (%)(a) markets Metals / Lithium Mining Carbonate 4%…
Historical & Projected Soda Ash Demand Steady Growth Over Time & Through Cycles Annual soda ash demand (Ex. China) is projected to grow approximately 9.3 million tons in the aggregate (+27%) from 2019 2028 Latin America, North and South…
Natural Soda Ash Cost Advantage Low Cost Position Drives Stable Cash Flow Generation Global low cost soda ash producer Natural vs. Synthetic Production(a) Average cost to produce natural soda ash is 50% of the cost to Solvay U.S.…
Granger Facility Expansion Overview Granger Pre-Expansion Genesis announced plans to invest 330 million (includes contingency) to expand its Granger soda ash facilities (the Granger Optimization Project or GOP) by approximately 750k…
Granger Facility Expansion Rationale The Granger Optimization Project expansion presents numerous financial and strategic benefits to Genesis including: Highly accretive, low risk project Attractive construction multiple…
Granger Facility Expansion Financing Details In conjunction with the expansion, Genesis has entered into agreements with funds affiliated with GSO Capital Partners LP (GSO) for the purchase of up to 350 million of preferred interests in…
Sulfur Services Overview Market Leader of NaHS Production and Leading Provider of Sulfur Removal Services Market leading position with highly consistent cash flow profile Production Process and Sales Overview and significant barriers to…
Onshore Facilities & Transportation Overview Integrated Asset Footprint with Exposure to Significant Refinery Demand Baton Rouge Complex Texas City Terminal Raceland Terminal Other Legacy Onshore Assets Underpinned by take-or-pay (ToP)…
Asset Snapshot: Baton Rouge Complex Integrated Crude & Intermediates Logistics Platform Integral part of day-to-day refinery logistics and feedstocks for Baton Rouge Complex Exxon Mobil's Baton Rouge refinery (4th largest U.S. refinery…
Marine Transportation Overview Bottom of the Cycle & High Degree of Operating Leverage Genesis Marine Equipment Inland barges are all asphalt capable, heated barges primarily utilized in black oil service American Inland Offshore…
Appendix & Reconciliations
Corporate Information Debt and Preferred Equity Profile & Corporate Structure Balance Sheet Overview Corporate Structure(a) Committed to long-term leverage ratio of 4.00x(b) Series A Class A Class B Convertible Common Units Common…
Environmental, Social & Governance (ESG) Supporting Business Priorities & Our Investors Through ESG Genesis is committed to operating its business in a responsible and sustainable manner Understanding, monitoring, engaging and…
Balance Sheet & Credit Profile Leverage Ratio & Common Unit Distribution Coverage Ratio ( in 000s) 12/31/2019 Senior secured credit facility 959,300 Senior Unsecured Notes 2,469,937 Less: Adjustment for short-term hedged inventory…
Reconciliation Segment Margin ( in 000s) 3 months ended LTM December 31, 12/31/2019 2019 2018 2017 2016 Net Income Attributable to Genesis Energy, LP 95,999 24,683 (6,075) 82,647 113,249 Corporate general and administrative expenses…
Reconciliation Available Cash Before Reserves ( in 000s) 3 months ended LTM December 31, 12/31/2019 2019 2018 2017 2016 Net income attributable to Genesis Energy, L.P. 95,999 24,683 (6,075) 82,647 113,249 Interest expense, net 219,440…
Reconciliation Select Items ( in 000s) 3 months ended LTM December 31, 12/31/2019 2019 2018 2017 Applicable to all Non-GAAP Measures Differences in timing of cash receipts for certain contractual arrangements (a) (8,478) 2,408 (6,629)…
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