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APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P.

Sunoco Logistics Partners L.P. · Apr 1, 2014 · 38 slides

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Slides

  1. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 1
    Sunoco Logistics Partners L.P. NYSE SXL
  2. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 2
    Sunoco Logistics Assets 3
  3. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 3
    Sunoco Logistics and Energy Transfer Assets 4
  4. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 4
    Energy Transfer Family of Companies ENERGY TRANSFER EQUITY, L.P. (NYSE: ETE) LP Interest Interest, GP Interest, Interest IDRs, IDRs Class H Units* Units LP Interest, GP Interest, IDRs ENERGY TRANSFER PARTNERS, L.P. REGENCY…
  5. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 5
    Recent Highlights g Distributions: 0 8th consecutive quarter over quarter increase of at least 5% 36th consecutive ti iincrease overallll Guidance 5% quarter over quarter increases in 2014 0 1Q increase: 2.65/unit to 2.78/unit…
  6. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 6
    8 Consecutive Quarters of at Least 5% Distribution Growth g Guidance 5% quarter over quarter increases in 2014 7
  7. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 7
    Distribution History Average Annual Paid Distribution (per LP unit) LP/GP Split (%) 3.00 g Eight Ei ht consecutive ti 2.78 quarter over quarter 50/50 distribution increases 2.50 of at least 5% 2.11 2.00 g 36 consecutive…
  8. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 8
    EBITDA by Segment (MM) 2009 2010 2011 2012 2013 Crude Oil Pipeline System 147 156 207 275 349 Crude Oil Acquisition and Marketing 46 39 148 239 233 T Terminal i lFFacilities iliti 105 127 149 225 233 Refined Products Pipeline System 74…
  9. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 9
    Adjusted EBITDA: Ratable and Market Related Maximize asset base by 1,000 871 taking advantage of 900 810 market opportunities 800 700 MM) sted EBITDA (M 600 573 Distributions based on 500 399 ratable cash 400 372…
  10. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 10
    Major Organic Projects g 11 Successful Open Seasons: 03 West Texas Crude expansion projects (crude oil) 0Permian Permian Express 1 (crude oil) 0Permian Express 2 (crude oil) 0Eaglebine Express (crude oil) 0Granite Wash Extension…
  11. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 11
    Scheduled Project Start-up Note: Nederland Access start-up dependent upon Pegasus 12
  12. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 12
    Organic Capital 2,100 1,800 1,500 Investment (MM) 1,200 900 600 300 0 2009 2010 2011 2012 2013 2014P Organic Capital 13
  13. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 13
    Acquisition Capital 600 500 nt (MM) 400 Investmen 300 200 100 0 2009 2010 2011 2012 2013 2014* A i iti C Acquisition it l Capital *SXL does not comment on future acquisitions 14
  14. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 14
    Original 110 MB/D West Texas Expansion Crude Oil g West Texas Crude Expansion: 0 Strong demand for takeaway capacity out of the Permian Basin 0 Existing crude pipeline 0 Multiple destinations 0 3 Successful Open Seasons Houston…
  15. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 15
    Permian Express Crude Oil Additional West TX Crude Expansion: 0 Continued strong demand for t k takeaway capacity it outt off the th Permian Basin 0 PE 1: Successful Open Season Wichita Falls to Nederland Existing pipeline…
  16. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 16
    Eaglebine Express Crude Oil g 60MB/D of takeaway capacity from the Eaglebine Eaglebine Express E l bi / W Eaglebine Woodbine dbi C Crude d tto N Nederland d l d and Woodbine shale at Hearne to Nederland g Existing MagTex…
  17. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 17
    Granite Wash Extension Crude Oil g Approximately 70MB/D of takeaway capacity from the Granite Wash Shale to Ringgold 0 Ability to ultimately connect to multiple SXL and 3rd party pipelines 0 Provides access to multiple markets…
  18. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 18
    Allegheny Access Refined Products g Midwest p products to Eastern Ohio Allegheny Access and Western Pennsylvania: Ohio Products to Pittsburgh 0 Strong demand to move Midwest refined products east Refinery expansions Refinery…
  19. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 19
    Mariner West and East Natural Gas Liquids Mariner West Mariner East 1 Ethane from Houston to Sarnia E/P from Houston to Marcus Hook Mariner East 2 NGLs from Shales to Marcus Hook 20
  20. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 20
    Mariner West and East Details g Comprehensive Marcellus Shale Pipeline Solution 0Strong demand for NGL takeaway capacity out of the Marcellus 0Successful Open Seasons for both Mariner West and Mariner East 1 0Open Season Launched for…
  21. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 21
    Marcus Hook Natural Gas Liquids g Acquired from Sunoco, Inc. 60MM g Continued commitment to growth in natural gas liquids g Foundation of Mariner East 1 & 2 g Located near the Marcellus and Utica shales, the site offers many…
  22. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 22
    Mariner South Natural Gas Liquids g Export NGLs from Gulf Coast: 0 Joint project between SXL and Mariner South Lone Star (ETP/RGP) NGLs from Mont Belvieu to Nederland 0 Project originates at Lone Stars fractionation facility in…
  23. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 23
    Summary g Geographically diverse asset base and strong business fundamentals g Commitment to Investment Grade credit rating g Flexible capital structure to support growth and distribution coverage g Experienced management team g…
  24. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 24
    Appendix
  25. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 25
    SXL Non-GAAP Financial Measures Twelve Months Ended December 31, (MM) 2009 2010 2011 2012 2013 Net Income 250 348 322 531 474 Interest expense, net 45 73 89 79 77 D Depreciation i ti and d amortization ti ti expense 48 64 86 139…
  26. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 26
    Historical Financial Results (MM) 2009 2010 2011 2012 2013 Crude Oil Pipelines 147 156 207 275 349 Crude Oil Acquisition & Marketing 46 39 148 239 233 Terminal Facilities 105 127 149 225 233 Refined Products Pipelines 74 77 69 71 56…
  27. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 27
    Joint Venture Ownership Consolidated JV's: West Texas Gulf Mid-Valley Inland SXL 60.3% SXL 91.0% SXL 83.8% Chevron 28.3% Chevron 9.0% Citgo 16.2% Citgo 11.4% Equity Interest JV's: E l Explorer* * Westt Shore W Sh W l i **…
  28. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 28
    Capitalization (MM) A off 3/31/14 As Debt Senior Notes, net 1,972 fixed Unamortized fair value adjustments, net(1) 116 1.5 B SXL Revolver (matures November 2018)(2) 950 floating 35 MM WTG Revolver (matures April 2015) 35 floating…
  29. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 29
    Debt Maturity Schedule at 3/31/2014 (MM) 750 700 675 600 525 450 375 350 350 300 300 300 300 250 250 225 175 150 75 0 6.13% 5.50% 4.65% 3.45% 4.25% 6.85% 6.10% 4.95% 5.30% '16 - '20 '21 '22 '23 '24 - '40 '41 '42 '43 '44…
  30. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 30
    1.5 Billion Revolving Credit Facility (MM) Facility Facility 100MM Lenders Allocation 40.5MM Lenders Allocation (1) 100.0 Bank of Nova Scotia 40.5 Citibank Barclays Bank 100.0 BNP Paribas 40.5 Bank of Tokyo-Mitsubishi UFJ 100.0…
  31. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 31
    Crude Oil Pipeline System g 40% of total EBITDA for the year ended December 31, 2013 g Approximately 4 4,900 900 miles of crude oil trunk lines located in the Southwest and Midwest U.S. 0Approximately 500 miles of gathering lines g…
  32. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 32
    Crude Oil Acquisition and Marketing g 27% of total EBITDA for the year ended December 31, 2013 g Crude truck fleet of approximately 300 trucks g Purchase crude oil at the wellhead from producers and in bulk from aggregators at major…
  33. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 33
    Terminal Facilities g 27% of total EBITDA for the year ended December 31, 2013 g Nederland, TX Crude Oil Terminal - One of the largest onshore crude facilities in U.S. 022 million barrel capacity currently g Eagle Point, NJ Crude Oil and…
  34. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 34
    Refined Products Pipeline System J 6% of total EBITDA for the year ended December 31, 2013 J Refined products pipeline system (approximately 2 2,500 500 miles) miles), located in the Northeast, Midwest and Southwest U.S. J Equity…
  35. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 35
    Acquisition History (1.5B Since IPO) November 2002 g Joint-venture interests in 3 refined product pipelines from Unocal, for 54MM 0Wolverine (31.5%), West Shore (9.2%), and Yellowstone (14.0%) November 2002 g 43.8% joint-venture…
  36. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 36
    Acquisition History (1.5B Since IPO), Continued September 2009 g Oklahoma crude oil pipeline from Excel Pipeline LLC and Romulus, MI refined products terminal facility from R.K.A. Petroleum LLC for an aggregate 50MM July 2010 g Butane…
  37. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 37
    SXL Key Financial and Operating Statistics 2010 2011 2012 2013 2014 Total Total 1st 2nd 3rd 4th Total 1st 2nd 3rd 4th Total 1st Total Financial highlights (in millions) Sales and other operating revenue Crude Oil Pipelines 221…
  38. APRIL 2014 ANNUAL INVESTOR PRESENTATION – Sunoco Logistics Partners L.P. – slide 38
    SXL Key Financial and Operating Statistics 2010 2011 2012 2013 2014 Total Total 1st 2nd 3rd 4th Total 1st 2nd 3rd 4th Total 1st Total Reconciliation of Segment Operating Income to Net Income Attributable to Sunoco Logistics Partners…

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