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Sunoco Logistics Partners L.P. NYSE SXL Citi MLP / Midstream Infrastructure Conference August 21-22, 2013

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Sunoco Logistics Partners L.P. Citi MLP / Midstream Infrastructure Conference August 21-22, 2013. NYSE SXL. Forward-Looking Statements. - PowerPoint PPT Presentation

TRANSCRIPT

Page 1: Sunoco Logistics Partners L.P

Sunoco Logistics Partners L.P.

NYSE

SXLCiti MLP / Midstream

Infrastructure ConferenceAugust 21-22, 2013

Page 2: Sunoco Logistics Partners L.P

Forward-Looking StatementsStatements we make that are not historical facts are forward-looking statements. These forward-looking statements are not guarantees of future performance. Although we believe the assumptions underlying these statements are reasonable, investors are cautioned that such forward-looking statements involve risks and uncertainties that may affect our business and cause actual results to differ materially from those discussed in this presentation. Such risks and uncertainties include economic, business, competitive and/or regulatory factors affecting our business, as well as uncertainties related to the outcomes of pending or future litigation. Sunoco Logistics Partners L.P. has included in its Annual Report on Form 10-K for the year ended December 31, 2012, and in its subsequent SEC filings, cautionary language identifying important factors (though not necessarily all such factors) that could cause future outcomes to differ materially from those set forth in the forward-looking statements. For more information about these factors, see our SEC filings, available on our website at www.sunocologistics.com. We expressly disclaim any obligation to update or alter these forward-looking statements, whether as a result of new information, future events or otherwise.

This presentation includes certain non-GAAP financial measures intended to supplement, not substitute for, comparable GAAP measures. Reconciliations of non-GAAP financial measures to GAAP financial measures are provided in the appendix to this presentation. You should consider carefully the comparable GAAP measures and the reconciliations to those measures provided in this presentation. 2

Page 3: Sunoco Logistics Partners L.P

Sunoco Logistics Assets

3

Page 4: Sunoco Logistics Partners L.P

Sunoco Logistics and Energy Transfer Assets

4

Page 5: Sunoco Logistics Partners L.P

ENERGY TRANSFER EQUITY, L.P.(NYSE: ETE)

SUNOCO LOGISTICS PARTNERS L.P. (NYSE: SXL)

ENERGY TRANSFER PARTNERS, L.P.(NYSE: ETP) REGENCY ENERGY PARTNERS LP

(NYSE: RGP)

LP Interest, GP Interest, IDRsLP Interest, GP Interest, IDRs, Class H Units*

LP Interest, GP Interest, IDRs

Gathering and Processing

Contract Compression

& Treating

Joint Ventures

Lone Star NGL

Intrastate Transportation

and Storage

Interstate Transportation

and Storage

Midstream

70% ETP Interest 30% RGP Interest

Crude Oil Pipelines

Crude Oil Acquisition &

Marketing

* Class H Units track 50% of the SXL GP and IDR economics

Terminal Facilities

NGL / Refined Product

Pipelines

Sunoco, Inc.Retail

Marketing

NGL Transportation and Services

Energy Transfer Family of Companies

5

Page 6: Sunoco Logistics Partners L.P

2Q13 Highlightsg Record quarterly performance:

0 $244 million Adjusted EBITDA

g 5% distribution increase (quarter over quarter):

0 $2.29/unit to $2.40/unit (annualized)

0 28% increase over 2Q12 distribution of $1.88/unit (annualized)

0 3rd consecutive 5% quarterly increase; 33rd consecutive increase overall

g 2013 Capital:

0 Approximately $700 million of organic expansion capital

0 Approximately $65 million of maintenance capital

g Ended the quarter with a Debt to Adjusted EBITDA ratio of 2.4x6

Page 7: Sunoco Logistics Partners L.P

$0.50

$1.00

$1.50

$2.00

$2.50

$3.00

2008 2009 2010 2011 2012 CAD*

Average Annual Paid Distribution

(per LP unit)

Distribution History

g Third consecutive 5% quarter over quarter distribution increase

g 33 consecutive quarterly distribution increases

g Current annualized distribution of $2.40 (3.7% yield as of 08/15/13)

DistributionCoverage 1.7x 1.5x 1.3x 1.8x 2.2x

LP/GPSplit (%)

50/50

85/15

63/37

98/2

7

$2.11

$0.77

$0.67

$2.40

*CAD: Current Annualized Distribution @ $2.40 per LP Share

Page 8: Sunoco Logistics Partners L.P

34%

29%

28%

9%

2012Crude Oil Pipeline SystemCrude Oil Acquisition and MarketingTerminal FacilitiesRefined Products Pipeline System

EBITDA by Segment

43%

13%

25%

19%

2008Crude Oil Pipeline SystemCrude Oil Acquisition and MarketingTerminal FacilitiesRefined Products Pipeline System

Note: The Partnership's definition of Adjusted EBITDA and DCF was revised beginning in the fourth quarter 2012. Prior period results have been recast to conform to the current presentation

($MM)

8

Page 9: Sunoco Logistics Partners L.P

Adjusted EBITDA: Ratable and Market Related

Maximize asset base by taking advantage of market opportunities

Distributions based on ratable cash

Market related cash flow increases coverage ratio

319372

399

573

810

9Note: The Partnership's definition of Adjusted EBITDA and DCF was revised beginning in the fourth quarter 2012. Prior period results have been recast to conform to the current presentation

Page 10: Sunoco Logistics Partners L.P

Major Organic Projectsg Successful Open Seasons:

0 Three West Texas Crude expansion projects (crude oil)0 Permian Express Phase I (crude oil)0 Eaglebine Express (crude oil)0 Allegheny Access (refined products)0 Mariner West (natural gas liquids)0 Mariner East (natural gas liquids)0 Mariner South (natural gas liquids)

g Actively developing:0 Granite Wash Extension (crude oil)0 Permian Express Phase II (crude oil)0 Mariner East Phase II (natural gas liquids)

10

Page 11: Sunoco Logistics Partners L.P

Scheduled Project Start-up

Note: Nederland Access waiting on Pegasus to re-start

11

2014 201620152012 2013

Houston Access(1H2012)

Mariner West

(3Q 2013)

Permian Express I 90 MB/D(2Q 2013)

Allegheny Access(Mid-2014)

Longview Access(1H2012)

Permian Express I 150 MB/D(early 2014)

Eaglebine Express(Mid-2014)

Mariner East I Propane(2H 2014)

Granite Wash Extension *

(4Q 2014)

Mariner South(1Q 2015)

Mariner East I Ethane & Propane

(Mid-2015)

* Currently in Open Season

Page 12: Sunoco Logistics Partners L.P

g Optimize current asset base

g Invest in organic extensions

g Organic Projects: West Texas Crude Projects Permian & Eaglebine Express0 Mariner Projects0 Allegheny Access0 Nederland / Eagle Point0 Butane Blending

g Opportunistically acquire complementary assets:0 $1.4B in 11 year history0 Marcus Hook facility acquired in

2013 for $60MM in cash

Organic Growth Capital

12

2008 2009 2010 2011 2012 2013P0

100

200

300

400

500

600

700

Organic Expansion Capital

Inve

stm

ent (

$MM

)

2008 2009 2010 2011 2012 2013P0

100

200

300

400

500

600

700

Acquisition Capital

Inve

stm

ent (

$MM

)

*

*SXL does not project future acquisitions

Page 13: Sunoco Logistics Partners L.P

Original 110 MB/D West Texas Expansion – Crude Oil

g West Texas Crude Expansion:0 Strong demand for takeaway

capacity out of the Permian Basin0 Existing crude pipeline0 Multiple destinations0 3 Successful Open Seasons

• Houston Access – 40 MB/D (operational)

• Longview Access – 30 MB/D (operational)

• Nederland Access – 40 MB/D (waiting on

Pegasus)

0 Fee-based income

13

West Texas Gulf ExpansionPermian Crude to Multiple Markets

Page 14: Sunoco Logistics Partners L.P

Additional West TX Crude Expansion:

0 Continued strong demand for takeaway capacity out of the Permian Basin

0 Phase I: Successful Open Season• Wichita Falls to Nederland• Existing pipeline• Connection to Basin Pipeline• 90 MB/D (operational)• 150 MB/D capacity (early 2014)

0 Phase II: Actively developing• 200 MB/D additional capacity• Origin: Permian Basin • Destinations: Multiple refiners

and markets in the Mid -Continent and along the Gulf Coast

Permian Express – Crude Oil

14

Permian Express IPermian Crude to Nederland

Permian Express IIPermian Crude to the Mid-Continent and the Gulf

Coast via SXL and 3rd party pipelines

Page 15: Sunoco Logistics Partners L.P

g ~60MB/D of takeaway capacity from the Eaglebine and Woodbine shale at Hearne to Nederland

g Existing MagTex pipeline

MagTex acquired in 2008

Underutilized refined products pipeline

g Expected to be operational in the Mid-14

g Successful open season

Eaglebine Express – Crude Oil

15

Eaglebine Express Eaglebine / Woodbine Crude to

Nederland

Page 16: Sunoco Logistics Partners L.P

g Approximately 70MB/D of takeaway capacity from the Granite Wash Shale to Ringgold

0 Ability to ultimately connect to multiple SXL and 3rd party pipelines

0 Destinations include refiners and markets in the Mid-Continent and along the Gulf Coast

g ~200 miles of new pipeline

g Expected to be operational in 4Q14

g Open season launched in July 2013

Granite Wash Extension – Crude Oil

16

Granite Wash ExtensionGranite Wash Crude to the Mid-Continent and the

Gulf Coast via SXL and 3rd party pipelines

Page 17: Sunoco Logistics Partners L.P

g Midwest products to Eastern Ohio and Western Pennsylvania:

0 Strong demand to move Midwest refined products east

• Refinery expansions• Refinery economics

0 Utilizes existing and new assets

0 Successful Open Season• Initial capacity of 85 MB/D• Expandable to 110 MB/D

0 Fee-based income

0 Mid-14 projected start-up

Allegheny Access – Refined Products

Allegheny AccessOhio Products to Pittsburgh

17

Page 18: Sunoco Logistics Partners L.P

Mariner West and East – Natural Gas Liquids

Mariner EastE/P from Houston to Marcus Hook

Mariner WestEthane from Houston to Sarnia

18

Page 19: Sunoco Logistics Partners L.P

g Comprehensive Marcellus Shale Pipeline Solution0Strong demand for NGL takeaway capacity out of the Marcellus0Successful Open Seasons for both West and East0Fee-based income0Primarily existing pipeline (optimizing Northeast/Midwest refined product pipelines)

g Mariner West0Ethane pipeline from Houston, PA to Sarnia, Ontario0Line fill commenced July 2013 0September 2013 at ~20 MB/D 0Ramping up by 1Q14 to 50 MB/D capacity (expandable)

g Mariner East0Propane and Ethane pipeline from Houston, PA to the Marcus Hook Facility0Marine terminal at Marcus Hook with export options070 MB/D capacity02H14: propane start-up; mid-15: ethane and propane0Due to substantial interest, actively developing a Phase II

Mariner West and East – Details

19

Page 20: Sunoco Logistics Partners L.P

Marcus Hook – Natural Gas Liquids

20

g Acquired from Sunoco, Inc. – $60MMg Continued commitment to growth in natural

gas liquidsg Anchors the Mariner East projectg Located near the Marcellus and Utica

shales, the site offers many features:0 Five underground caverns for storing

NGLs0 Deep water berths, rail access, truck

capability and advantageous pipeline infrastructure

0 A northeast NGL hub, capable of handling a broad array of NGLs and located <300 miles from the Marcellus, is very attractive to producers as well as local and overseas consumers.

Page 21: Sunoco Logistics Partners L.P

Mariner South – Natural Gas Liquids

21

g Export NGLs from Gulf Coast:0 Joint project between SXL and

Lone Star (ETP/RGP)0 Project originates at Lone Star’s

fractionation facility in Mont Belvieu

0 An SXL pipeline would transport to Nederland Terminal for exporting

0 Comparable to Mariner East0 Received sufficient commitments

to proceed0 Fee-based income0 1Q15 projected start-up0 Excellent example of synergies

within Energy Transfer family

Mariner SouthNGLs from Mont Belvieu to Nederland

Page 22: Sunoco Logistics Partners L.P

Summary

22

g Geographically diverse asset base and strong business fundamentals

g Commitment to Investment Grade credit rating

g Flexible capital structure to support growth and distribution coverage

g Experienced management team

g Excellent prospects for future growth

Page 23: Sunoco Logistics Partners L.P

Appendix

Page 24: Sunoco Logistics Partners L.P

2008 – 2012 Adjusted EBITDA (Prior Definition)

A-1

Page 25: Sunoco Logistics Partners L.P

Adjusted EBITDA Definition

A-2

Category Prior Definition New DefinitionProportionate share of Unconsolidated Affiliates' (JV) interest, depreciation and provision for income taxes -Explorer -Wolverine -West Shore -Yellowstone

Recorded at SXL's ownership share of JV's Total Net Income

Recorded at SXL's ownership share of JV's Total Adjusted EBITDA

Income Attributable to noncontrolling interests (in Consolidated Affiliate JVs) -Mid-Valley -West Texas Gulf -Inland

Excluded from Adjusted EBITDA

Included in Adjusted EBITDA

Non-Cash Compensation Expense Included as reduction to Adjusted EBITDA

Excluded from Adjusted EBITDA

Unrealized Gain/Loss on Commodity Risk Management Activities

Included in Adjusted EBITDA as an increase (gain) or reduction (loss)

Excluded from Adjusted EBITDA

Page 26: Sunoco Logistics Partners L.P

2008 – 2012 Adjusted EBITDA (New Definition)

A-3

Page 27: Sunoco Logistics Partners L.P

Distributable Cash Flow (DCF) Definition

(1) Restated DCF reflects SXL’s cash dividends received from unconsolidated affiliates(2) Restated DCF reflects SXL’s ownership share (%) of consolidated joint venture DCF

A-4

Category Prior Definition New DefinitionDistributions versus Adjusted EBITDA of Unconsolidated Affiliates (JVs)

No Adjustment Subtract Adjusted EBITDA; add cash dividends received(1)

Distributable Cash Flow attributable to noncontrolling interests (in Consolidated Affiliates JVs)

No Adjustment Subtract DCF attributable to noncontrolling interests in consolidated joint ventures(2)

Page 28: Sunoco Logistics Partners L.P

2008-2012 DCF (New Definition)

(1) Excludes non-cash amortization of fair value adjustment on long-term debt ($6 million in 2012)

A-5

Page 29: Sunoco Logistics Partners L.P

SXL 83.8% SXL 91.0% SXL 60.3%Citgo 16.2% Chevron 9.0% Chevron 28.3%

Citgo 11.4%

Shell 36.0% Buckeye 34.6% ExxonMobil 36.2% Phillips 66 46.0%Marathon 17.4% Shell 18.9% SXL 31.5% ExxonMobil 40.0%Chevron 16.6% Citgo 18.4% Shell 17.2% SXL 14.0%Phillips 66 13.8% SXL 17.1% Citgo 9.5%SXL 9.4% ExxonMobil 11.0% Marathon 5.6%American Capital Group 6.8%

HarborSXL 66.7% Plains 63.0%Phillips 66 33.3% SXL 37.0%

Yellowstone

Mesa

Inland Mid-Valley

Explorer* West Shore Wolverine**

West Texas Gulf

Joint Venture Ownership

A-6

Bold - denotes operator* Operated by Explorer’s employees** Operated by Wolverine’s employees

Consolidated Affiliates (JVs):

Unconsolidated Affiliates (JVs):

Undivided Interest JV’s:

Page 30: Sunoco Logistics Partners L.P

Historical Financial Results

A-7

($MM)

* Excludes major acquisitions

Note: The Partnership's definition of Adjusted EBITDA and DCF was revised beginning in the fourth quarter 2012. Prior period results have been recast to conform to the current presentation

2008 2009 2010 2011 2012

Crude Oil Pipelines 138 147 156 207 275 Crude Oil Acquisition & Marketing 41 46 39 148 239 Terminal Facilities 81 105 127 149 225 Refined Products Pipelines 59 74 77 69 71 Total Adjusted EBITDA 319 372 399 573 810

Interest expense, net 31 45 73 89 79 Provision for income taxes - - 8 25 32 Maintenance Capital Expenditures 26 32 37 42 50 Amortization of fair value adjustment on long-term debt - - - - 6 Distributions versus adjusted EBITDA of unconsolidated affiliates 24 31 36 17 28 Distributable cash flow attributable to noncontrolling interests - - 3 10 11

Distributable Cash Flow (DCF) 238 264 242 390 604

Expansion Capital* 111 144 146 171 324

Total Distribution (accrual basis) 144 182 193 214 277 Distribution Coverage Ratio 1.7x 1.5x 1.3x 1.8x 2.2x

Page 31: Sunoco Logistics Partners L.P

SXL Non-GAAP Financial Measures

(1) Management of the Partnership believes Adjusted EBITDA and distributable cash flow information enhances an investor's understanding of a business’s ability to generate cash for payment of distributions and other purposes. Adjusted EBITDA and Distributable Cash Flow do not represent and should not be considered alternatives to net income or cash flows from operating activities as determined under United States generally accepted accounting principles (GAAP) and may not be comparable to other similarly titled measures of other businesses. Historical amounts presented have been recast to conform to current period.

A-8Note: The Partnership's definition of Adjusted EBITDA and DCF was revised beginning in the fourth quarter 2012. Prior period results have been recast to conform to the current presentation

2008 2009 2010 2011 2012

214 250 348 322 531 Interest expense, net 31 45 73 89 79 Depreciation and amortization expense 40 48 64 86 139 Impairment charge 6 - 3 31 9 Provision for income taxes - - 8 25 32 Non-cash compensation expense 4 5 5 6 8 Unrealized losses / (gains) on commodity risk management activities - - 2 (2) 3 Proportionate share of unconsolidated affiliates' interest, depreciation

and provision for income taxes 24 24 24 16 21 Adjustments to commodity hedges resulting from "push-down" accounting - - - - (12) Gain on investments in affiliates - - (128) - -

Adjusted EBITDA(1) 319 372 399 573 810 Interest expense, net (31) (45) (73) (89) (79) Amortization of fair value adjustments on long-term debt - - - - (6) Provision for income taxes - - (8) (25) (32) Maintenance capital expenditures (26) (32) (37) (42) (50) Distributions versus Adjusted EBITDA of unconsolidated affiliates (24) (31) (36) (17) (28) Distributable Cash Flow attributable to noncontrolling interests - - (3) (10) (11)

Distributable Cash Flow(1) 238 264 242 390 604

Twelve Months Ended December 31,

Net Income

($MM)

Page 32: Sunoco Logistics Partners L.P

Capitalization

(1) Includes unamortized bond discount of ($2MM)

(2) In accordance with purchase accounting, the Partnership's Senior Notes were accounted for at fair value upon the closingof Energy Transfer's acquisition of the Partnership's general partner. At 6/30/13, there was $131MM of netunamortized fair value adjustments, which includes $12MM of amortization which was recognized as a reduction ofinterest expense during 1H13.

(3) In accordance with purchase accounting guidance, the components of the Partnership's consolidated equity balance were adjusted to fair value and resulted in an increase in consolidated equity of $4.8 billion upon the closing of Energy Transfer's acquisition of the Partnership's general partner. A-9

($MM) As of 6/30/13Debt

Senior Notes, net(1) 2,148 fixedUnamortized fair value adjustments, net(2) 131 $350 MM SXL Revolver (matures August 2016) - floating $200 MM SXL Revolver (matures August 2014) - floating $35 MM WTG Revolver (matures April 2015) 35 floating

Total Debt(1)(2) 2,314

EquityLimited Partners 5,297 General Partner 905

Total Partners’ Capital 6,202 Non-Controlling Interest 125

Total Equity(3) 6,327

Rating: BBB- / Baa3 / BBB (S&P, Moody’s, Fitch), stable outlook

Page 33: Sunoco Logistics Partners L.P

175 175

250

300

350

250

300

350

0

50

100

150

200

250

300

350

400

'13 '14 '15 '16 - '20 '21 '22 '23 - '40 '41 '42 '43

Debt Maturity Schedule at 6/30/2013

8.75% 6.13% 5.50% 4.65% 6.85% 6.10%

Note: Excludes Revolver borrowings

($MM)

3.45% 4.95%

A-10

Page 34: Sunoco Logistics Partners L.P

Debt to Adjusted EBITDA

Note: Adjusted EBITDA reflects last twelve months for the period ended.Total Debt at 12/31/12 and 6/30/13 does not include unamortized fair value adjustments

A-11

12/31/2008 12/31/2009 12/31/2010 12/31/2011 12/31/2012 6/30/20131.5x

2.0x

2.5x

3.0x

3.5x

Page 35: Sunoco Logistics Partners L.P

Debt to Adjusted EBITDA

(1) In accordance with purchase accounting guidance, the Partnership's Senior Notes were adjusted to fair value (“FV”) upon the closing of Energy Transfer's acquisition of the Partnership's general partner in October 2012.

A-12

June 30,2008 2009 2010 2011 2012 2013

Debt to Adjusted EBITDA RatioTotal Debt 748 868 1,229 1,698 1,732 2,314 Less: Unamortized FV adjustments, net(1) - - - - 143 131

748 868 1,229 1,698 1,589 2,183

Adjusted EBITDA (trailing 12 months) 319 372 399 573 810 903

Debt to Adjusted EBITDA Ratio 2.3x 2.3x 3.1x 3.0x 2.0x 2.4x

December 31,($MM)

Page 36: Sunoco Logistics Partners L.P

Revolver – Credit Facilities($MM)

Credit facilities include accordion features to expand borrowings to a total of $935MM ($250MM accordion on the $350MM facility and $100MM accordion on the $200MM facility)

The $350MM and $200MM facilities have a maximum Debt/EBITDA of 5.0x (flexed to 5.5x during an acquisition period) A-13

$350MM Facility

$200MM Facility

$35MM Facility Total

Lender Allocation Allocation Allocation Allocation Citibank 30.0 18.0 0.0 48.0Barclays Bank 30.0 18.0 0.0 48.0Goldman Sachs Bank USA 25.0 0.0 0.0 25.0TD Bank 24.0 15.0 0.0 39.0Wells Fargo 24.0 15.0 0.0 39.0Bank of America 21.5 13.0 0.0 34.5JP Morgan Chase 21.5 13.0 0.0 34.5Mizuho Corporate Bank (USA) 21.5 13.0 0.0 34.5PNC Bank 21.5 13.0 35.0 69.5Bank of Nova Scotia 21.5 13.0 0.0 34.5Bank of Tokyo-Mitsubishi UFJ 21.5 13.0 0.0 34.5Royal Bank of Scotland 21.5 13.0 0.0 34.5UBS Loan Finance 21.5 13.0 0.0 34.5Credit Suisse (Caymans) 15.0 10.0 0.0 25.0Deutsche Bank (NY) 15.0 10.0 0.0 25.0U.S. Bank 15.0 10.0 0.0 25.0Total 350.0 200.0 35.0 585.0

Page 37: Sunoco Logistics Partners L.P

Crude Oil Pipeline System

A-14

g 34% of total EBITDA for the year ended December 31, 2012

g Approximately 4,900 miles of crude oil trunk lines located in the Southwest and Midwest U.S.0 Approximately 500 miles of gathering lines

g 60.3% controlling interest in West Texas Gulf Pipeline, a 580-mile crude oil pipeline

g 91.0% controlling interest in Mid-Valley Pipeline, a 990-mile crude oil pipeline

Page 38: Sunoco Logistics Partners L.P

Crude Oil Acquisition and Marketing

A-15

g 29% of total EBITDA for the year ended December 31, 2012

g Crude truck fleet of approximately 250 trucks

g Purchase crude oil at the wellhead from producers and in bulk from aggregators at major pipeline interconnections and trading locations

g Wellhead volumes over 300,000 barrels per day from approximately 4,000 producers in nineteen states and the Gulf of Mexico, with the majority of purchases being made in Oklahoma, Kansas, Texas, New Mexico, Michigan, North Dakota, and Louisiana

g Storing inventory during contango market conditions – maintain balanced book to mitigate commodity risk

g Transporting crude oil on our pipelines and trucks or when necessary or cost effective, pipelines or trucks owned and operated by third parties

Page 39: Sunoco Logistics Partners L.P

Terminal Facilities

A-16

g 28% of total EBITDA for the year ended December 31, 2012g Nederland, TX Crude Oil Terminal - One of the largest onshore crude facilities in U.S.

0 22 million barrel capacity currentlyg Eagle Point, NJ Crude Oil and Refined Products Terminal

5 million barrel capacity for crude oil and refined product storage Pipeline and rail connections with import/export capabilities

g Marcus Hook Industrial Complex0 Pipeline, rail and trucking connections with import/export capabilities0 Five underground NGL storage caverns

g Refinery Terminal Facilities with combined 6 million barrel capacity0 Serve Philadelphia area refineries

g Over 40 active Refined Products Marketing Terminals located in 11 states with a combined capacity of 8 million barrels

g Inkster, MI LPG Terminal with a capacity of 1 million barrelsg Total terminal capacity of approximately 46 million barrelsg Patented technology to blend butane into gasoline

Page 40: Sunoco Logistics Partners L.P

Refined Products Pipeline System

A-17

9% of total EBITDA for the year ended December 31, 2012

Refined products pipeline system (approximately 2,500 miles), located in the Northeast, Midwest and Southwest U.S.

Equity interest in four product pipelines0 Explorer (9.4%)0 West Shore (17.1%)0 Wolverine (31.5%)0 Yellowstone (14.0%)

83.8% controlling interest in Inland Pipeline, a 350-mile refined products pipeline system

Page 41: Sunoco Logistics Partners L.P

November 2002 g Joint-venture interests in 3 refined product pipelines from Unocal, for $54MM

0Wolverine (31.5%), West Shore (9.2%), and Yellowstone (14.0%)

November 2002 g 43.8% joint-venture interest from Sunoco/Unocal in West Texas Gulf crude pipeline for $11MM

September 2003 g Additional joint-venture interest in West Shore for $4MM increasing ownership

interest from 9.2% to 12.3%

March 2004 g Logistics assets of Eagle Point refinery from Sunoco, Inc. for $20MM

April 2004 g Baltimore, MD and Manassas, VA refined product terminal facilities from ConocoPhillips for $12MM

June 2004 g Additional 1/3rd joint-venture interest in Harbor Pipeline from El Paso for $7MM, increasing ownership

interest to 2/3rds

November 2004 g Columbus, OH refined product terminal facilities from Certified Oil for $8MM

August 2005 g Texas crude oil pipeline system from ExxonMobil for $100MM

December 2005

March 2006

g 37% joint-venture interest in Mesa crude oil pipeline system from Sunoco/Chevron for $7MM

g Texas crude oil pipeline system from Black Hills for $41MMg Texas crude oil pipeline system from Alon for $68MM

August 2006

June 2007

g 55.3% joint-venture interest in Mid-Valley crude oil pipeline from Sunoco, Inc. for $65MM

g 50% joint-venture interest in a refined products terminal in Syracuse, NY from ExxonMobil for $13MM

Acquisition History ($1.4B Since IPO)

A-18

Page 42: Sunoco Logistics Partners L.P

November 2008 g Texas refined products pipeline system and terminal facilities from ExxonMobil for $186MM

September 2009 g Oklahoma crude oil pipeline from Excel Pipeline LLC and Romulus, MI refined products terminal facility

from R.K.A. Petroleum LLC for an aggregate $50MM

July 2010 g Butane blending business from Texon L.P. for $152MM including inventory

g Additional joint-venture interest in West Shore from BP for $7MM increasing ownership

interest from 12.3% to 17.1%

g Additional joint-venture interest in Mid-Valley from BP for $58MM increasing ownership

interest from 55.3% to 91.0%

August 2010 g Additional joint-venture interest in West Texas Gulf from BP for $27MM increasing ownership

interest from 43.8% to 60.3%

May 2011 g 83.8% controlling joint-venture interest in Inland refined products pipeline for $99MM

July 2011 gEagle Point Tank Farm from Sunoco, Inc. for $100MM in deferred distribution units

August 2011 g Crude Oil Acquisition and Marketing business from Texon L.P. for $222MM including inventory

g East Boston, MA refined products terminal and pipeline from ConocoPhillips for $73MM including

inventory

April 2013 g Marcus Hook Industrial Complex from Sunoco, Inc. for $60MM

Acquisition History ($1.4B Since IPO), Continued

A-19