NYSE: MMP J.P. Morgan Energy, Power & Renewables Virtual Conference June 17, 2020
Straight-forward governance and organization Investment grade MLP with no incentive distribution rights Strong governance, with all board members elected by the public 8 of 9 board members are independent Public 100% LP…
Refined products segment Longest refined petroleum products pipeline system in the U.S., primarily transporting gasoline and diesel fuel, with 9,800 miles, 53 terminals and 46mm barrels of storage Profit driven by throughput volume…
Crude oil segment 2,200 miles of crude oil pipelines, substantially backed by long-term throughput commitments 37mm barrels of total crude oil storage, including 25mm barrels used for contract storage, with largest locations in…
Primarily fee-based business Magellans business model is primarily focused on fee-based, low-risk activities, which are expected to comprise 85%+ of future operating margin* 2019 transportation results benefited from spot revenue and…
Disciplined historical growth Over the last 10 years, Magellan has invested 6.3 billion in expansion projects Historically made a few strategic acquisitions that served as platforms for future organic growth and continuously evaluate…
Best-in-class returns Magellan has proven track record of delivering superior returns Reflects disciplined management style, high quality asset base and strong business position ROIC defined as trailing 12-month net operating…
Pasadena marine terminal joint venture 50/50 joint venture with Valero Energy with 300k bpd of dock capacity currently Phase 1: 1mm bbls of storage and Panamax-capable dock; began operations early 19 Phase 2: 4mm bbls of storage,…
Expansion of Texas refined products pipeline system Largest expansion of our refined products pipeline system in Magellans history Phase 1: New East Houston-to-Hearne pipe became operational Sept. 19, adding 85k bpd capacity 425mm…
Conservative financial profile Sector-leading credit metrics One of the highest-rated midstream companies at BBB+ / Baa1 Long-standing target maximum leverage ratio of < 4x debt-to-EBITDA (2.7x at 3/31/20) Significant liquidity with…
Magellans resilient business Although refined products demand has been temporarily impacted by virus quarantine during 2020, expect demand to return to more historical levels as travel restrictions subside and economic conditions…
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