Investor Presentaiton
MLP Investing: Why Invest In ET?
Attractive
Yields
Efficient income security with high relative yield
Strong
Earnings
Power
Quarterly
Pay-outs
ET current yield: ~8.7%
Ր
ENERGY
TRANSFER
Significant earnings capacity from critical energy
infrastructure franchise
ET 2022 estimated Adjusted EBITDA: $12.8 - $13.0 billion
Quarterly distributions supported by significant
excess cash flow
ET Q3'22 Distribution: $0.265 ($1.06 annualized)
ET Q3'22 excess cash flow after distributions: $760 million
Significant
Excess
Cash Flows
Stable cash flows from fee-based, volume-driven
business models
ET earnings from fee-based margins: ~85-90%
Efficiencies
Tax structure > Lower cost of capital compared to traditional C-Corps
Single-level taxation at the partnership level > Reduced effective tax rate compared to traditional C-Corps
Tax deferred investment > Significant portion of distributions to investors treated as tax deferred
For more information: www.eic.energy
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