2011 Barclays Capital CEO Energy-Power Conference Curt Anastasio, CEO and President September 8, 2011 1
NuStar Overview 3
Two Publicly Traded Companies Public Unitholders William E. Greehey 35.1 Million NSH Units 7.5 Million NSH Units NuStar Energy L.P. (NYSE: NS) is 17.6% a leading publicly traded 82.4% Membership Membership Interest Interest…
Large and Diverse Geographic Footprint with Assets in Key Locations Asset Stats: Operations in eight different countries including the U.S., Mexico, the Netherlands, including St. Eustatius in the Caribbean, England, Ireland,…
Diversified Operations from Three Business Segments Percentage of 2010 Segment Operating Income Storage: 43% Refined Product Terminals Crude Oil Storage 43% Transportation: 35% Refined Product Pipelines* 35% Crude Oil…
Distributions for both NS and NSH have grown every year since IPOs Expect 2011 distribution growth rate to be higher than 2010 NS Distribution ( per Unit) NSH Distribution ( per Unit) 6.6% CAGR 9.9% CAGR 4.245 4.28 1.87 4.09…
Storage Segment Overview 8
2011 Storage Segment EBITDA Expected to be Higher than 2010 Storage Segment EBITDA ( in Millions) Storage Contract Renewals (% of Revenues) 256 42% 242 208 30% 177 162 15% 13% 1 Year 1 to 3 3 to 5 Greater 2006 2007 2008…
Storage expansion projects continue at our St. James, Louisiana terminal Third-Party Crude Oil Storage Expansion Phase 1 Construct 3.2 million barrels of crude oil storage Projected CAPEX of 125 to 145 million, with projected…
Recently announced an agreement to construct a unit train offloading facility at our St. James terminal Agreement with two subsidiaries of EOG Resources, Inc. EOG is a large independent oil and natural gas company Proved reserves…
Plan to construct new tanks for distillate service at our St. Eustatius terminal Construct one million barrels of new storage for distillate service Interested customers include several large oil companies Projected CAPEX of 45 to…
Transportation Segment Overview 13
Lower throughputs should cause Transportation Segment EBITDA to be down in 2011 Transportation Segment EBITDA ( in Millions) 2010 Pipeline Receipts by Commodity 199 Other* 190 13% 186 Crude Oil Distillate 176 40% 18% 170…
Shale Development Strategy should increase Transportation Transportation Segment SegmentAssets in close Throughputs proximity to key Shale Formations Shale Development Strategy There are key shale developments located in NuStars…
Four Eagle Ford Shale Projects have been announced to date Previously mentioned Pipeline Connection & Capacity Lease Agreement with Koch Pipeline In the 2nd quarter of 2011, announced the signing of LOIs with TexStar Midstream…
Four Eagle Ford Shale Projects have been announced to date (Continued) NuStar is working with Valero Energy to finalize agreements to transport Eagle Ford crude, other crude oils and condensate for Valero Energy Agreements should…
Expect to Announce Additional Projects In the Near Future Completed project for Koch Pipeline Letter of Intent in place In early development phase New NuStar Pipeline Existing NuStar Pipeline New 3rd Party Pipeline PETTUS…
Asphalt & Fuels Marketing Segment Overview 19
Earnings from San Antonio refinery acquisition as well as improved earnings in Fuels Marketing operations should lead to improved segment results Asphalt & Fuels Marketing Segment EBITDA ( in millions) U.S. East Coast Product Margin (…
Financial Overview 21
NuStar Revolver Availability close to 350 million. Credit Metrics should continue to improve as earnings increase 6/30/11 Revolver Availability Credit Ratings/Metrics (Dollars in Millions) Total Bank Credit 1,224 Standard & Poors:…
No Significant Debt Maturities Until 2012 1,000 Debt Maturities as of June 30, 2011 874 (Millions ) 750 480 450 500 350 290 250 1 0 No significant debt maturities until 2012 when some senior notes and the revolver…
2011 Total Spending on Internal Growth Projects & Acquisitions currently projected to be around 475 million (Dollars in Millions) 475 Acquisitions Corporate Asphalt & Fuels Marketing 100 Storage Transportation 75 262 25 43 164…
NuStar Summary High quality, large and diverse asset footprint supporting energy infrastructure both in the U.S. and internationally Contracted fee-based storage and transportation assets provide stable cash flows, delivering 78% of…
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Appendix 27
Reconciliation of Non-GAAP Financial Information: Storage Segment (Unaudited, Dollars in Thousands) NuStar Energy L.P. utilizes a financial measure, EBITDA, that is not defined in United States generally accepted accounting principles.…
Reconciliation of Non-GAAP Financial Information: Transportation Segment (Unaudited, Dollars in Thousands) NuStar Energy L.P. utilizes a financial measure, EBITDA, that is not defined in United States generally accepted accounting…
Reconciliation of Non-GAAP Financial Information: Asphalt and Fuels Marketing Segment (Unaudited, Dollars in Thousands) NuStar Energy L.P. utilizes a financial measure, EBITDA, that is not defined in United States generally accepted…
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