Investor Presentaiton
GIBSON
ENERGY
Complementary to Gibson's Liquids Infrastructure Strategy
High-quality crude storage and export platform with strong commercial underpinnings and stable cash flows
South Texas Gateway Terminal LLC - Key Highlights
Pro Forma Gibson Asset Footprint
Edmonton
Hardisty
[$] Strategically Situated
Business
Second Largest U.S.
Crude Oil Export Facility(1)
Moose Jaw
1 mmbbl/d
12%
2 basins
4
Permitted Export
Capacity
of Total U.S. Exports in
2023 Year-to-Date (1)
Permian and
Eagle Ford
Major Pipeline
Connections (2)
EXPANDING CORE TERMINALS FOOTPRINT
~25%
U.S.
~75%
Canada
Pro Forma
LTM Q1 2023
Segment Profit
Pyote/Wink
South Texas Gateway
Terminal ("STGT")
Source: EIA, Port of Corpus Christi, RBN, vendor estimates.
(1)
(2)
Per RBN; second largest facility based on Q1 2023A volumes.
Connector to Cactus II in progress.
Highly Contracted
Take-or-Pay Business
>95%
Revenue from
Take-or-Pay Contracts
~85%
Strong Distributable
Cash Flow Conversion
99%
Adj. EBITDA
<$1 million
Annual
Maintenance Capital(3)
Investment Grade
Counterparties
converted to DCF(3,4)
Connected to leading North American supply basins and
strategically positioned to enable global exports
(3) Adjusted EBITDA, DCF and Maintenance Capital do not have standardized meaning under GAAP. See "Specified Financial Measures"
slide.
(4) Asset-level distributable cash flow before taxes (defined as EBITDA less maintenance capital expenditures); based on 2022A metrics.View entire presentation