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Investor Conference Call – Energy Transfer

Energy Transfer · Apr 28, 2014 · 13 slides

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Slides

  1. Investor Conference Call – Energy Transfer – slide 1
    ENERGY TRANSFER PARTNERS INVESTOR CONFERENCE CALL Acquisition of Susser Holdings Corporation Monday, April 28th, 2014
  2. Investor Conference Call – Energy Transfer – slide 2
    INTRODUCTIONS Speakers: Martin Salinas Chief Financial Officer, ETP Jamie Welch Group Chief Financial Officer & Head of Corp. Development, ETE Bob Owens President & Chief Executive Officer, Sunoco Participants: Kelcy…
  3. Investor Conference Call – Energy Transfer – slide 3
    TRANSACTION TERMS Energy Transfer Partners, L.P. (ETP) will acquire 100% of Susser Holdings Corp. (SUSS) outstanding common stock for a total consideration of approximately 1.8 billion Acquisition of SUSS shares funded with ETP…
  4. Investor Conference Call – Energy Transfer – slide 4
    TRANSACTION MATRIX Action Plan Why Susser Full integration is expected to take place in several Sussers business model capitalizes on the strong steps: economy and favorable demographic trends in Texas and surrounding states…
  5. Investor Conference Call – Energy Transfer – slide 5
    ILLUSTRATIVE TRANSACTION SUMMARY Step 1: Step 2: Step 3: ETP acquires Susser Holdings Dropdown of all retail assets to SUSP SUSP GP and IDR interests moved to ETE ETP acquires 100% of Susser for 80.25 per share Over time, ETPs…
  6. Investor Conference Call – Energy Transfer – slide 6
    SUSSER BUSINESS OVERVIEW One of Largest Combined Susser Holdings Retail Operations Retail / Wholesale Footprints in the Corporation Sale of Motor Fuel Fast Growing Southwest (SUSS) at Consignment Locations C-Stores 630 100%…
  7. Investor Conference Call – Energy Transfer – slide 7
    COMBINATION OF TWO HIGHLY COMPLEMENTARY BUSINESSES WILL CREATE A STRONGER AND MORE DIVERSIFIED RETAIL PLATFORM Sunoco Susser Established East Coast and Southeast One of the largest retail/wholesale footprints presence with over 5,000…
  8. Investor Conference Call – Energy Transfer – slide 8
    COMBINATION PROVIDES SIGNIFICANT SCALE AND INCREASES GEOGRAPHIC & PRODUCT DIVERSITY Operated Sites Sunoco Susser Total Owned1), company operated 553 630 1,183 Owned(1), dealer operated 576 90 665 Dealer & Distributor operated…
  9. Investor Conference Call – Energy Transfer – slide 9
    INTEGRATION CONSIDERATIONS Achieve buying power synergies related to fuel, convenience merchandise and other procurement activities Sunoco will be able to capitalize on its fuel sourcing expertise over a much larger portfolio The…
  10. Investor Conference Call – Energy Transfer – slide 10
    SIGNIFICANT, TANGIBLE ANNUAL SYNERGIES HAVE BEEN IDENTIFIED Synergy opportunities are 13 70 expected to well exceed 70 million annually G&A / Shared Services 17 Model Large Contract Purchases, Improved Margin in Prepared Food,…
  11. Investor Conference Call – Energy Transfer – slide 11
    Illustrative Transaction Timeline TIMING AND STEPS 3 - 4 months expected timing from announcement to closing 6 weeks Subject to Susser shareholder vote & April 2014 customary regulatory approvals 3Q 2014: Week of April 28th 3 4…
  12. Investor Conference Call – Energy Transfer – slide 12
    CONCLUSION Smart transaction for ETP Anticipated drop downs of the existing Sunoco and Susser retail businesses into SUSP provide a clear path for ETP to segregate the retail business into a dedicated vehicle with its own…
  13. Investor Conference Call – Energy Transfer – slide 13
    Q&A

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