Barclays Midstream & Clean Infrastructure Corporate Access Days February 2021
Genesis Energy Investment Overview Genesis Energy, L.P. operates a diversified collection of high-quality infrastructure assets and world-class businesses with significant upside and operating leverage with little to no growth capital…
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 607 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 volumes Existing connectivity and excess capacity to driving both…
Improving Financial Fundamentals & Guidance Current Business Segment Outlook Offshore Pipeline Sodium Minerals & Onshore Facilities & Marine Transportation Sulfur Services Transportation Transportation BPs Argos / Mad Dog 2…
2021 Estimated Cash Obligations Reduction in common unit distribution will save 2021 Estimated Cash Obligations approximately 200 million per year Recurring Cash Obligations Recurring cash obligations for 2021 totaling 410 million…
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…
Actively Participating in Green Initiatives Helping Facilitate the Energy Transition & Lower Emission Activities Sodium Minerals & Sulfur Services Our soda ash business should increasingly participate in multiple renewable energy themes…
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 &…
Offshore Pipeline Transportation - Hurricane Impact 2020 Performance Impacted by Unprecedented Hurricane Season Over the last 10 years, Genesis has experienced Historical Named Storm Days(a)(b) various levels of impact from named storms…
Offshore Pipeline Transportation Asset Summary Leading Gulf of Mexico Midstream Service Provider 2,400 miles of pipelines and associated platforms primarily Deepwater to Shore Crude Oil Pipeline Solutions 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 increased by 59% from 2013 - 2018 Non-Deewater Deepwater (1,000 ft.) Avg. Crude…
Key Gulf of Mexico Platform and Field Production Low Decline Rates & Inventory of Permits to Sustain Current and Future Production Since 2016, production dedicated to Genesis has remained flat Key Hub Production and Completed…
Central Gulf of Mexico Overview Robust Inventory of Future Growth Ram Powell Petronius Stonefly Horn Mountain Delta House Nearly Headless Nick Lobster Spruance Selected Recent Developments / Key FID Katmai Bullwinkle…
Gulf of Mexico - Active Federal Leases Proximity to Existing Leases Creates Stability and Opportunity Robust number of active Federal leases in the Gulf of Mexico In 2020, volumes were produced from only 20% of the active Federal leases…
Central Gulf of Mexico Midstream Dynamics Uniquely Positioned with Available Capacity to Capture Additional Volumes Uniquely positioned with maximum optionality and available capacity to CHOPS / Poseidon Available Capacity to…
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…
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…
Soda Ash Market Summary Supply / Demand Balance Expected to Remain Tight over Long-Term Turkey expansion at Kazan (startup 2017) 2.5 million metric Historical U.S. Natural Soda Ash Pricing(a) tons per year fully absorbed by market No…
Soda Ash Demand Drivers Growing Global Demand (Ex. China) Driven by Emerging Middle Class & Green Initiatives Soda ash demand is driven by a diversified set of global end 2020 Global End-Markets (%)(a)(b) markets Metals / Lithium…
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 Solvay U.S. Natural…
Granger Facility Expansion Overview Granger Pre-Expansion Genesis plans to invest 330 million (includes contingency) to expand its Granger soda ash facilities (the Granger Optimization Project or GOP) by approximately 750k tons per…
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 Inland barges are all asphalt capable, heated barges primarily Genesis Marine Equipment 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 No near-term…
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…
Recent Administration Executive Order Details Actual Orders are Different Than the Media Headlines The Secretary of the Interior Order No. 3395 January 20th, 2021 On January 20th, the Secretary of the Interior issued temporary Order…
GOM Permitting Process Summary Overview of Key Milestones GOM Planning and Permitting Process Summary Under the Outer Continental Shelf Lands Act (OCSLA), a lessee must first submit an Exploration Plan (EP) to the Exploration Plan &…
Genesis Major Project Permitting Status Producer Confidence Reinforcing Schedule BP has received its DOCD for Argos / Mad Dog 2 (140k/d capacity) GOM Planning and Permitting Process Summary All pre-first oil wells have been drilled…
Balance Sheet & Credit Profile Leverage Ratio & Common Unit Distribution Coverage Ratio ( in 000s) 12/31/2020 Senior secured credit facility 643,700 Senior Unsecured Notes 2,750,016 Less: Outstanding inventory financing sublimit…
Reconciliation Segment Margin ( in 000s) 3 Months Ended LTM December 31, 12/31/2020 2020 2020 2019 2018 Net Income (Loss) Attributable to Genesis Energy, LP (416,678) (85,156) (416,678) 95,999 (6,075) Corporate general and…
Reconciliation Available Cash Before Reserves ( in 000s) 3 Months Ended LTM December 31, 12/31/2020 2020 2020 2019 2018 Net income (loss) attributable to Genesis Energy, L.P. (416,678) (85,156) (416,678) 95,999 (6,075) Interest expense…
Reconciliation Select Items ( in 000s) 3 Months Ended LTM December 31, 12/31/2020 2020 2020 2019 2018 Applicable to all Non-GAAP Measures Differences in timing of cash receipts for certain contractual arrangements (a) 40,848 11,668…
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