Investor Presentaiton

On-Strategy Acquisition Further Enhances Gibson's Profile GIBSON ENERGY (C$mm) $800 $700 Growth in Segment Profit (1,2,3) ~158% growth (~21% CAGR) in Core Infrastructure Segment Profit from 2017 to 2022PF Transaction immediately grows Core Infrastructure Segment Profit by an additional ~35% on a pro forma basis $600 $562 $520 $517 $500 $469 $475 STGT $400 $377 $300 $200 % Infrastructure Marketing Above L-T Run Rate (2) Marketing Divested Business Pro Forma Positioning Infrastructure expected to account for ~85% of Segment Profit ~80% of infrastructure revenues take-or-pay (>95% when including fee-based) Third terminal platform creates future growth optionality Enhanced scale and diversity strengthens Gibson's competitive positioning EXPANDING CORE TERMINALS FOOTPRINT $100 ~60% ~55% ~55% ~55% ~60% ~80% ~85% Core Infrastructure $0 2017A 2018A 2019A 2020A 2021A 2022A 2022PF (1) (2) 11 (3) Immediate mid-teens DCF per share accretion Segment Profit illustratively adjusted for estimated finance leases under IFRS 16 for 2017 to improve comparability with current presentation. Long-term run rate for Marketing segment profit assumes C$80 - C$120mm per year for 2019 forward, where previously the range assumed was C$60 - C$80mm. Marketing Outperformance reflective of earnings above the upper-bound of the Marketing Long-Term Run Rate where Marketing Long-Term Run Rate and Marketing Outperformance sum to equal Marketing Segment Profit as disclosed in 2022 MD&A. 2022 average CAD/USD FX rate of 1.3011

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