2022 Energy Infrastructure Council Investor Conference M A Y 1 6 - 1 7 , 2 0 2 2
Forward-Looking Statements Statements contained in this presentation other than statements of historical fact are forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are…
Our Solid First Quarter Results Once Again Demonstrated the Strength and Resilience of Our Business Excluding the contribution of the Eastern U.S. terminals we sold in October 2021, our first quarter 2022 adjusted EBITDA1 was up 12…
We Expect Full-Year 2022 to be Even Stronger Than Last Year We expect 2022 adjusted EBITDA to exceed 2021 adjusted EBITDA by 7%*, excluding divested assets, based on the midpoint of our guidance Stronger Adjusted EBITDA…
In 2022, We Have Kicked Off an Optimization Initiative In Order to Maximize Our Internally Generated Cash Flows 2022 Optimization Initiative Kick-off: Phase 1: Phase 2: March 2022 50MM In progress Cost and Spending Reductions…
Our Optimization, Combined With Our Sale of Point Tupper for 60MM, Will Allow NuStar to Continue to Improve Our Debt-to-EBITDA Ratio in 2022 By deploying proceeds from our recent assets sales to reduce debt, we were able to reduce…
This Year, We are Self-funding Our 115-145 Million Strategic Growth Capital Program for Our Core Asset Footprint Renewable Fuels Total Estimated Established: West Coast Network 2022 Ethanol & bio-diesel Strategic blending…
Renewable Fuels Carbon Emissions Reduction Goals Generate Growing Demand, Which Offer Realizable Opportunities for NuStars Well-positioned Midstream Logistics Regulatory priorities on the West Coast and in Canada continue to…
Renewable Fuels We Have Captured a Significant (and Still Growing) Proportion of the Regions Renewable Fuels Supply NuStars Proportionate Share of Californias Renewable Fuels Market (2021 Total Volume1) 6% 15% 23% 76% BIODIESEL…
Renewable Fuels And We Continue to Partner With Key Customers to Develop Our Renewable Fuels Network, as LCFS Mandates Expand to Additional Markets We have established ourselves as an early mover in the renewable fuels transportation…
Renewable Fuels Beyond the West Coast, We are Developing Near- and Long-term Opportunities for Our Ammonia System, Both Renewable and Conventional Our Ammonia Pipeline is the longest and only ammonia pipeline in the country,…
Renewable Fuels Ammonia, the Worlds Second-most Widely Used Chemical, Offers Significant Greening Opportunities Ammonia is the basic building block for ammonium nitrate fertilizer, which releases nitrogen, an essential nutrient for…
Refined Products U.S. Gasoline and Diesel Demand was Strong Through 2021, and 2022 is Expected to Improve U.S. Gasoline & Diesel Demand Gasoline demand in 110% (as a % of Pre-Covid Demand) the United States recovered 105%…
Refined Products NuStars Refined Products Systems Serve Key Markets Across the Midcontinent and Texas Midcontinent Systems- CENTRAL EAST: A 2,500-mile pipeline system with multiple delivery options East Pipeline This system serves…
Refined Products And Our Markets Have Proven Resilient (and are Expected to Continue to See Strong, Consistent Demand) Total Refined Products Percentage of Pre-COVID Demand 120% 105% 105% 100% 99% 94% 95% 97% 100% 80%…
Refined Products Crude Supply/Export U.S. Refinery Utilization has Risen Along With Rebounding Product Demand U.S. Refinery Utilization (by PADD, 2019-2022) At the end of 2021, U.S. refinery utilization reached U.S. 88% and is…
Crude Supply/Export The Permian Basin is Leading the U.S. Shale Rebound, With Our Permian System Continuing to Outperform Because of its superior Permian Basin Oil MMBPD MMBPD Permian Oil Production geology and low breakeven…
Crude Supply/Export Our Core of the Core Location has Attracted Top-tier Customers Whose Activity is Supporting Steady Growth The quality of geological NS System Producer-type2 formations underlying our (% Average Daily Volume)…
Crude Supply/Export Producers in the Basin Are Once Again Bullish on Permian Growth, Strength & Resiliency We continue to grow production in the Permian Basin unconventional production Permian Basin. In March, we produced grew to…
Crude Supply/Export Since Completing Our Mainline in 2019, We are now Investing in Pace With Our Producers Growth May 2017 Current System Capacity 220,000 700,000 Receipt Points 122 327 Pipeline Miles 600 980 Storage (bbls) 900,000…
Crude Supply/Export As Global Demand Recovers in 2022, Corpus Christi is the Export Hub Best Positioned to Benefit From Future Growth Corpus Christi has remained the U.S. Gulf Coast Crude Exports dominant Gulf Coast crude exports by…
Crude Supply/Export Our Corpus Christi Crude Systems MVCs- for Export and Local Refinery Supply- Provide Strength & Stability The heart of our Corpus Christi Crude System is our North Beach Terminal, which receives barrels from our…
In 2022, We Will Continue to Focus on NuStars Strategic Priorities Across Our Business Our Strategic Priorities: 1. 2. 3. Optimizing Our Reducing Promoting Business to Our Our ESG Increase Debt Excellence Cash Flow 23
APPENDIX
NuStar By-the-numbers Common Unit Price(1): 14.03 Distribution/CU/Year: 1.60 Yield(1): 12.2% Market Cap : (1) 1.5 billion Credit Ratings: Moodys: Ba3 (Stable) S&P: BB- (Stable) Fitch: BB- (Stable) Enterprise Value :(1) 6.0…
Long-term Commitments From Creditworthy Customers Pipeline Segment Contracted1 Revenues (% 2022 Forecast as of 1Q22) NuStar Investment-grade Customers (% Pipeline/Storage 2022 Revenues) Take-or-pay Contracts 40% Structurally…
Liquidity and Debt Maturity Schedule In January 2022, we extended the term our 1.0 billion revolver through April 2025 and our receivables financing agreement through January 2025 We utilized proceeds from the sale of the Eastern…
Capital Structure as of March 31, 2022 ( in Millions) 1.0B Credit Facility 107 Common Equity and AOCI 166 NuStar Logistics Notes (5.625%) 550 Series A, B and C Preferred Units 756 NuStar Logistics Notes (5.75%) 600 Series D…
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NuStar Contact Information INVESTOR RELATIONS (210) 918-INVR (4687) InvestorRelationsNuStarEnergy.com SUSTAINABILITY SustainabilityNuStarEnergy.com For additional information about corporate sustainability at NuStar,…
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