Investor Presentaiton slide image

Investor Presentaiton

Financial Governing Principles Gibson maintains a strong pro forma financial position by adhering to existing targets Quality of Cash Flows Funding Financial Model Flexibility Highly Secured Contract Structure Creditworthy Counterparties Strong Balance Sheet Maintain & Improve Credit Ratings Committed Target >80% of Infrastructure revenues from take-or-pay and high-quality fee-for-service contracts >85% of Infrastructure exposures under long-term contracts with investment grade counterparties Net Debt to Adjusted EBITDA of 3.0x - 3.5x (2) and no greater than 4x on an Infrastructure-only (1) basis Maintain Two Investment Grade ratings Capital Funding Fund growth capital expenditures with maximum 50% - 60% debt Strategy Sustainable Payout Ratio Sustainable long-term payout of 70% - 80% of DCF and Infrastructure payout less than 100% (1) Pro Forma Metrics >95% PF Infrastructure revenue from TOP and fee-based contracts (1) >85% PF Infrastructure exposure under contracts with IG counterparties (1) 3.1x total and 3.7x Infrastructure-only Net Debt to Adjusted EBITDA at Q3 2023 PF LTM(2,3) S&P: BBB- rating DBRS: BBB (low) rating No change to capital funding strategy 61% total payout and 79% Infrastructure-only at Q3 2023 (2,3) GIBSON ENERGY INVESTOR PRESENTATION 10 10 (2) Net Debt to Adjusted EBITDA, Infrastructure-only Net Debt to Adjusted EBITDA, payout ratio, and Infrastructure-only Payout ratio do not have standardized meanings under GAAP; see "Specified Financial Measures" slide. (3) See "Forward-Looking Statements Notice" slide and "Presentation of Pro Forma Information" on the "Specified Financial Measures" slide; see "Financial Position and Maturity Profile" on slide 27 for Q3 2023A Net Debt to Adjusted EBITDA and Q3 2023A Payout Ratio metrics. (1) Based on 2022 PF Revenue.
View entire presentation