NAPTP Investor Conference Ponte Vedra Beach, FL May 21-22, 2014
INVESTMENT HIGHLIGHTS o Over 125 years of continuous operations, with a 27- year track record as a publicly traded MLP on the NYSE oPaid cash distributions each quarter since formation in 1986 o Lower cost of capital realized from…
ORGANIZATIONAL OVERVIEW Three Business Operating Units Buckeye owns and operates a diversified network of integrated assets providing midstream logistic solutions Domestic Pipelines & Terminals LTM(1) Adjusted EBITDA One of the…
PIPELINE AND TERMINAL SYSTEM MAP Copyright 2014 Buckeye Partners, L.P. 5
DOMESTIC PIPELINES & TERMINALS OVERVIEW o 6,000 miles of pipeline with 110 delivery locations Pipeline Throughput Volumes (bpd in thousands) o 115 liquid petroleum product terminals 1,385.6 1,426.4 1,398.4 1,316.4 1,358.1…
GLOBAL MARINE TERMINALS OVERVIEW Buckeyes network of marine terminals enables it to facilitate global flows of liquid petroleum products and offer customers connectivity to some of the worlds most important bulk storage and blending…
BUCKEYE SERVICES OVERVIEW Merchant Services Development & Logistics o Markets a wide range of liquid petroleum products o Operates or maintains third-party pipelines under and other ancillary products in areas served by agreements…
CRUDE OIL DIVERSIFICATION Buckeye is successfully leveraging its assets to provide crude oil logistics solutions to producers and refiners wherever possible Perth Amboy Crude Oil Revenue (in millions) o Crude by rail capability to be…
GROWTH CAPITAL INVESTMENTS Nearly 6 Billion Invested Since 2008 Key Acquisitions 2014 Internal Growth Capital Projects 2013 o Transformation of Perth Amboy terminal into highly o Hess terminal network, 850.0 million efficient,…
HESS TERMINALS ACQUISITION Unique opportunity to acquire a collection of terminals that are highly complementary with Buckeye's existing operations and enhances Buckeye's vision of creating a world-class, integrated terminal network…
GROWTH CAPITAL PROJECTS Domestic Pipelines & Terminals Buckeyes ability to leverage and repurpose our existing domestic asset footprint has allowed us to successfully deliver high-return growth capital projects with low single digit…
GROWTH CAPITAL PROJECTS Global Marine Terminals BORCOInvested 390 million since acquisition Perth AmboyInvested 180 million since acquisition Tank Expansion 4.7 million barrels Facility Transformation o 1.2 million barrels of crude…
INVESTMENT SUMMARY o Proven 27-year track record as a publicly traded partnership through varying economic and commodity price cycles o Stable fee-based cash flows derived from throughput volumes, tariffs and terminalling and…
NON-GAAP RECONCILIATIONS
NON-GAAP FINANCIAL MEASURES Adjusted EBITDA and distributable cash flow are measures not defined by GAAP. Adjusted EBITDA is the primary measure used by our senior management, including our Chief Executive Officer, to (i) evaluate our…
NON-GAAP RECONCILIATIONS In millions, except coverage ratio LTM(3) 1Q14 2013 2012 2011 2010 (1)(2) Adjusted EBITDA from continuing operations : Pipelines & Terminals 482.4 126.7 471.1 409.5 361.0 346.4 Global Marine Terminals…
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