NYSE: MMP Overview of Magellan Midstream November 2020
Magellan investment highlights Essential U.S. petroleum midstream infrastructure Straight-forward primarily fee-based business model Proven history of strong returns on invested capital, cash flow growth and distribution coverage…
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, 54 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* ytd 3Q20 Operating Margin* 85%+ Commodity-related…
Best-in-class returns Magellan has proven track record of delivering superior returns on invested capital Over the last 10 years, Magellan has invested 6.3 billion in expansion capital related to the build out of our crude oil and…
Consistent cash distribution payments Resilient business model provides strong cash flow to consistently pay distributions through various business cycles since our 2001 IPO Expect to maintain current distribution for 2020 with 1.11x…
Sector-leading credit metrics Committed to maintaining solid balance sheet One of the highest-rated midstream companies at BBB+ / Baa1 Long-standing target maximum leverage ratio of < 4x debt-to-EBITDA 3.2x leverage at 9/30/20…
Magellans resilient business Although refined products demand has been temporarily impacted by the pandemic during 2020, expect demand to return to more historical levels as travel and economic activity improve Long-term refined…
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