Genesis Energy L P : Wells Fargo’s 23rd Annual Midstream, Energy & Utilities Symposium

Published: 2024-12-10 06:46:05 ET GEL

Genesis Energy, L.P.

Wells Fargo's 23rd Annual Midstream, Energy & Utilities Symposium

December 2024

Why Invest in Genesis?

Cash Flow Profile Poised to Deliver Increasing Returns to Stakeholders

Diverse Portfolio of Long-Lived, Market Leading Businesses with High Barriers to Entry and Significant Operating Leverage

Ample Liquidity Provides Significant Financial Flexibility

Expected Growth in Adjusted EBITDA(a) and Declining Growth CapEx Driving Increased Cash Flow(b)

Attractive Current Yield with Future Earnings Growth

Positioned to Increase Return of Capital to Everyone in Capital Structure

most directly comparable GAAP financial measure is not available to us without unreasonable efforts. The probable significance of providing the forward-looking Adjusted EBITDA without directly comparable GAAP financial measure is that such non-GAAP financial

measure may be materially different from the corresponding GAAP financial measure.

(b)

After certain cash obligations, including cash interest payments, principal payments on our Alkali senior secured notes, preferred and existing common unit distributions, maintenance capital requirements, and cash taxes.

Market Leading Businesses

Offshore Pipeline Transportation

Genesis Total LTM

• Practically irreplaceable integrated asset footprint focused on transporting crude

Segment Margin $710 MM(a)

oil produced from the deepwater Central Gulf of Mexico to multiple onshore

markets

27%

• Contracts structured as life of lease dedications to individual platforms & pipelines,

with newer generation contracts including some take-or-pay features

51% $362 MM

• Customer production profiles designed to produce for decades with low decline

18%

• Uniquely positioned to capture additional volumes from incremental deepwater

developments

Soda & Sulfur Services

Marine Transportation

27%

51%

$190 MM

18%

27%

51%

$126 MM

18%

Onshore Facilities & Transportation

• Integrated suite of refinery-centric onshore crude oil pipelines, terminals and

related infrastructure

• Leading 3rd party facilitator of feedstocks to ExxonMobil's Baton Rouge and

Baytown refineries

• Certain onshore pipeline and terminal assets integrated with Genesis' Gulf of

Mexico crude oil pipeline infrastructure

Note: Pictures from top to bottom: Ship Shoal 332 A&B Platforms, soda ash operations, inland push boat and barges on the Mississippi River and Port of Baton Rouge terminal tank farm.

27%

51% $32 MM

18%

Genesis Energy - Corporate Overview

Long-Term Thesis Remains In-Tact, Positive and On Schedule

(c)

Including cash interest payments, principal payments on our Alkali senior secured notes, preferred and existing common unit distributions, maintenance capital requirements, and cash taxes.

Business Segment Detail

Overview

Offshore Pipeline Transportation - Overview

World Class Footprint in Leading North American Basin

Long-Term Value Creation

CHOPS & Poseidon Volumes

• ~2,400 miles of pipelines and associated platforms primarily

located in the Central Gulf of Mexico

• Leading independent midstream service provider uniquely

positioned to provide deepwater producers maximum

optionality with access to both Texas and Louisiana markets

- No priority / dependency on affiliated equity production

• Focused on providing producers a "highway to shore" via our

Cameron Highway Oil Pipeline System ("CHOPS") and

700

600

500

400

Kbd

300

200

432

467

393

351

308

+86%

581

499

425

453

464

437

573

$120

$100

$80

$60

$40

$ / bbl

Poseidon Oil Pipeline ("Poseidon")

- Laterals and other associated infrastructure serve as feeder

pipelines to CHOPS and Poseidon

• Provide transportation to shore for several of the most prolific

fields in the central Gulf of Mexico

100

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

Hurricane Bridge Volumes(a)

Avg. Crude Price (WTI)(b)

YTD '24

$20

Genesis Crude Oil Pipelines to Shore

CHOPS

Poseidon

Eugene Island

Odyssey

YTD 2024

Avg. Daily

~300 kbd

~274 kbd

~66kbd

Volume

Delivery

Texas

Louisiana

Point

Mileage

380

358

184

120

Ownership

64%

29%

(a)

Additional 38k/d based on 28 days at an average of 490k/d to reflect hurricane downtime in 2020.

(b)

Per Energy Information Agency, WTI daily spot prices through September 30, 2024.

Track Record of Success in the Gulf of Mexico

Driven by Strategic Acquisitions and Organic Growth

Oct. 2010 - $330 mm

April 2023

2Q 2025

June 2019

Shenandoah & Salamanca FPS

Genesis Acquires

July 2014 - $197 mm

LLOG operated Buckskin

November 2021

Argos / Mad Dog 2 achieved

expected to come on-line

50% interest in

development on-line

first oil with 100% of volumes

(combined 160k/d

Genesis and Enterprise complete

Sold 36% minority equity

CHOPS from Valero

dedicated to CHOPS

of production capacity)

construction of 50% / 50% owned

interest in CHOPS for

(140k/d production capacity)

SEKCO Pipeline

$418 million

2010

2011

2014

2015

2019

2020

2022

2023

2024

2025

2026

Oct. 2011 - $205.8 mm

July 2015 - $1.5 billion

2020

2024

Genesis Acquires Marathon's

Genesis Acquires Enterprise's

Atlantis Phase 3 &

Winterfell and Warrior

Gulf of Mexico assets, including:

1 well at Katmai on-line

developments on-line

Mid/Late 2026

28% in Poseidon

50% in CHOPS

2Q 2024

Monument Oil Discovery

23% in Eugene Island

36% in Poseidon

2Q 2022

expected to come on-line

29% in Odyssey

50% in SEKCO

Murphy's King's Quay FPS

(sub-sea tieback to

achieved first oil in April 2022

Shenandoah FPS)

(Capacity of ~85 kbd of oil & 100

mmcfd of natural gas)

LLOG's Spruance development

achieved first oil

Offshore Expansion - Project Overview

Expanding Basin Critical Infrastructure in the Gulf of Mexico

HI-A5 Pumps

New GB-72 Platform

CHOPS

Selected CHOPS Lateral

Selected Genesis Platform

CHOPS Connected

Production Hubs

SMI

205

Green

Canyon

Garden Banks

Newly Constructed

SYNC Lateral

SYNC Pipeline Lay

SS 332B

Offshore Expansion - Commercial Support

Supported by Credit Worthy Take-or-Pay Agreements and Life of Lease Dedications

New Dedicated Deepwater Developments

The

"SYNC"

Pipeline

Shenandoah

Salamanca

Disclaimer

Genesis Energy LP published this content on December 10, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on December 10, 2024 at 11:45:08.637.