Company Snapshot Continue to build a leading oil-focused infrastructure business GEI 4.4B TSX LISTED ENTERPRISE VALUE(1) 1 80% RANKED TAKE-OR-PAY / STABLE FEE-BASED ESG SCORE IN PEER EBITDA(3) GROUP(2) 90% S&P: BBB A-…
Oil Infrastructure Focused 70% of 2020E EBITDA from core Terminals and 80% Infrastructure 2020E EBITDA Breakout(1) OILSANDS 70% Terminals 80% Infrastructure EDMONTON TERMINAL 1.7 mmbbl existing storage Marketing 20% VIKING…
Focused Strategy Premier oil infrastructure assets to underpin DCF per share and dividend growth Leverage Terminals Position Complementary Growth Terminals represent 70% of Target deploying 200 300mm in EBITDA(1) Oil Infrastructure…
ESG and Sustainability Journey Strong foundation enables impactful and meaningful strides in the future Focusing near-term efforts on establishing dedicated governance and oversight, improving disclosure and transparency as well as…
ESG and Sustainability Highlights Well positioned relative to peers despite being in the early phases of the ESG journey Bloomberg ESG Rating(2) 1 (Ranked out of 100; higher is better) 25% 60 RANKED DECREASE IN PER ESG SCORE IN PEER…
Complete Transformation of Business Repositioned from diverse mix of business lines to focused energy infrastructure 2014(1,2) 2017(1,2) 2020E(2) 75% Terminals & 25% Terminals & Pipelines 55% Terminals & Pipelines Pipelines…
Financial Governing Principles Committed to maintaining a strong financial position by managing to key targets Committed Target Performance High Quality 80% segment profit from take-or-pay and high- Cash Flows Contract 80% in…
Funding Position and Maturity Profile Fully-funded, significant available liquidity and no maturities of size near-term Fully-funded for all sanctioned capital, with internal funding capacity well in excess of sanctioned capital At Sept…
Segment Profit & Cash Flow by Contract Structure Segment Profit and cash flow heavily weighted to high quality businesses Through divesting non-core, commodity exposed businesses, Gibson has significantly improved its weighting to…
Counterparty Credit Exposure Infrastructure accounts for majority of EBITDA; terminals primarily IG customers Nature of Credit Exposures by Business Segment(1) 100% Infrastructure represents 80% of 2020E Segment Profit and is backed by…
Strong Financial Position Leverage and payout ratio currently below target ranges Maintain two Investment Grade ratings(1) Rating of BBB (low) with stable trend from DBRS Morningstar, reaffirmed April 2020 Rating of BBB- with stable…
Contract Quality & Balance Sheet Comparison Attractive contract quality and best-in-class leverage relative to peer group Proportion Take-or-Pay & Fee-for-Service(1) Net Debt / LTM Adjusted EBITDA(2) (%) (x) 100% 8.0x 80%…
Long-Term Capital Allocation Priorities Near-term focus on remaining fully-funded and preserving balance sheet strength Target payout ratio of 70% 80% over the long-term Fund Dividend Fund the Business Dividend to be fully…
Hardisty Terminal Best-in-Class Connectivity Replicating Gibsons competitive position not possible and cost prohibitive Flexibility offered by Gibsons existing best-in-class connectivity provides a wide moat at Hardisty Key…
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 THE HILL Gibson connection to HARDISTY EAST 210 mbbl/d rail facility WEST HARDISTY Phase 4 TERMINAL…
DRU at Hardisty On-Strategy Infrastructure High-quality infrastructure project leveraging and extending Hardisty position First DRU in 50%/50% joint venture between Gibson and USD Western Canada Agreement in place with ConocoPhillips…
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 Targeting mid-2021 in-service at a cost of 125mm to 175mm net to Gibson Targeting in-service date in mid-2021 Total capital cost of the initial 50,000 bbl/d phase, net to Gibson, estimated to be…
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…
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 segment…
Distributable Cash Flow Outlook Sustained growth in core Infrastructure driving meaningful per share growth Distributable Cash Flow With Illustrative Breakout By Business(1) (Cmm, C/share) Line of sight to delivering DCF CAGR of 400 10%…
Key Takeaways Continue to deliver on all facets of the strategy; will remain disciplined Delivery Since January 2018 Investor Day Go Forward Deliverables Continue to target investing 200 300mm per year Infrastructure Sanction 2 4…
APPENDIX
Infrastructure Growth Capital Invested 1.75B in Infrastructure 2011-2020E, including 11.5 mmbbl of tankage Infrastructure Growth Capital Expenditure 2011A - 2021E (Cmm) 300 243 2021E 221 219 229 200mm 184 147 101 62 41 2011…
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