Genesis Energy, L.p. · NYSE:GEL
Genesis Energy, L.p — Investor Presentation (June 2026)
25 slides from Genesis Energy, L.p's investor presentation, June 2026
Slide 1: Genesis Energy, L.P. Investor Presentation
Genesis Energy, L.P. Investor Presentation June 2026
Slide 2: Disclosures & Company Information
Disclosures & Company Information Investor Relations Contact [email protected] (713) 860-2500 Corporate Headquarters 811 Louisiana, Suite 1200 Houston, TX 77002 Forward-Looking Statements This presentation includes forward-looking statements as defined under federal law. Although we believ
Slide 3: Genesis Energy, L.P. – At a Glance
Genesis Energy, L.P. – At a Glance Three Market-Leading Business Segments — $613MM LTM Segment Margin Offshore Pipeline Transportation Marine Transportation Onshore Transportation & Services — #1 deepwater crude oil pipeline operator in the — Modern & diversified fleet of Jones Act vessels — Integra
Slide 4: Investment Rationale
Investment Rationale Cash Flow Profile Poised to Deliver Increasing Returns to Stakeholders ADJ. EBITDA GROWTH FIVE REASONS TO OWN GEL Diverse, Long-Lived, Market-Leading Portfolio $575-612mm 1 • • 3 business segments: Offshore Pipeline Transportation, Marine Transportation, and Onshore Terminals Hi
Slide 5: Key Takeaways – 1Q 2026
Key Takeaways – 1Q 2026 Offshore Outlook Strong; Long-Term Thesis Intact; Capital Structure Progressing Adj. EBITDA(a) Segment Margin FY 2026 Adj. EBITDA Guidance Distribution Coverage Bank Leverage Ratio(b) $140.9mm $156.4mm $575-612mm 1.99x 5.38x 1Q 2026 1Q 2026 Re-affirmed Mid-point in 1Q $0.18 /
Slide 6: Capital Structure & Financing Optimization
Capital Structure & Financing Optimization Opportunity to Capture Additional ~$80mm+ of Annual Run-Rate Savings Completed – 1Q26 Run-Rate Financing Cost Optimization ($MM) Issued New Unsecured Notes Tendered & Redeemed Notes $400 $750M of 6.75% senior ~$679mm of 7.75% senior unsecured notes due 2034
Slide 7: Business Segment Detail
Business Segment Detail Overview
Slide 8: Offshore Pipeline Transportation – Overview
Offshore Pipeline Transportation – Overview World Class Footprint in Leading North American Basin Long-Term Value Creation CHOPS & Poseidon Volumes +126% • ~2,300 miles of pipelines and associated platforms primarily 700 $120 located in the Central Gulf of America 600 $100 • Leading independent mids
Slide 9: Track Record of Success in the Gulf of America
Track Record of Success in the Gulf of America Driven by Strategic Acquisitions and Organic Growth April 2023 June 2019 Argos / Mad Dog 2 achieved LLOG operated Buckskin first oil with 100% of volumes Sept. 2025 development on-line dedicated to CHOPS Salamanca achieved first oil Oct. 2010 - $330 mm
Slide 10: Gulf of America Crude Oil Production
Gulf of America Crude Oil Production Continued Growth in the Deepwater Gulf of America Crude Oil Production(a) • Deepwater Gulf of America crude oil production is projected to Non-Deepwater Deepwater (>1,000 ft.) Avg. Crude Price (WTI) increase by ~87% from 2013 – 2027E 2,500 $120 • Production incre
Slide 11: Active Federal Leases in Gulf of America
Active Federal Leases in Gulf of America Proximity to Existing Leases Creates Stability and Future Opportunity • In April 2025, the Department of Interior and Bureau of Ocean Energy Management (BOEM) announced plans to develop the 11 th National Outer Continental Shelf Oil and Gas leasing program –
Slide 12: Central Gulf of America Overview
Central Gulf of America Overview Robust Inventory of Future Growth Ram Powell Petronius Stonefly Delta House Nearly Headless Nick Selected Recent Developments / FIDs Field Producer First Oil Lobster Monument Beacon 4Q ‘26 / Early ‘27 Spruance Katmai / Bullwinkle Katmai West • Caicos Shenandoah Phase
Slide 13: Gulf of America – Lower Carbon Intensity
Gulf of America – Lower Carbon Intensity Regulatory Oversight Helps Drive Lower Carbon Footprint Gulf of America Plays Leading Role(a) Significant Regulatory Oversight(b) • Barrels produced from the Gulf of America are the least • The leasing and operations activities in the GOM are subject emission
Slide 14: Case Study: Poseidon Oil Pipeline
Case Study: Poseidon Oil Pipeline Irreplaceable Crude Oil Pipeline in the Central Gulf of America • Poseidon Oil Pipeline is a basin critical pipeline that transports Steady Volumes Through Commodity Cycles central Gulf of America production to key markets in Louisiana 350 $120 +28% – Integrated ons
Slide 15: Marine Transportation – Overview
Marine Transportation – Overview Structural Industry Tailwinds Driving Momentum • Modern efficient fleet that is well positioned to benefit from steady Inland Offshore American demand and continued net retirements of Jones Act equipment Fleet Fleet Phoenix – Demand primarily driven by refinery utili
Slide 16: Onshore Transportation & Services – Overview
Onshore Transportation & Services – Overview Integrated Asset Footprint with Exposure to Significant Refinery Demand Baton Rouge Complex Texas City Terminal Raceland Terminal Sulfur Services (dba TDC) • Integral part of ExxonMobil’s Baton • Connection to Genesis owned • Connection to Genesis owned •
Slide 17: Sulfur Services - Facilitating Lower Emissions
Sulfur Services - Facilitating Lower Emissions Market Leader of NaHS Production Helping Reduce Host Refinery Emissions Business Overview • What do we do: – Leading producer of sodium hydrosulfide (“NaHS”) via 11 “sour gas processing” units inside the refinery fence • Proprietary process includes rea
Slide 18: Appendix & Reconciliations
Appendix & Reconciliations
Slide 19: Balance Sheet Information
Balance Sheet Information Debt and Preferred Equity Profile Senior Secured Credit Facility Nearest Unsecured Maturity Bank Leverage Ratio(a) Target Bank Leverage Ratio(a) Series A - Preferred Balance $900mm 2029 5.38x ~4.00x $394mm Maturity: March 2031 No near-term re-financing risk Long-term target
Slide 20: Sustainability at Genesis
Sustainability at Genesis Supporting Business Priorities & Our Investors Through Sustainability MSCI Ratings History • Genesis is committed to operating its business in a responsible and AAA sustainable manner • Received “A” rating from MSCI in March 2026 April 2023: Inaugural AA Report Issued • Rel
Slide 21: Balance Sheet & Credit Profile
Balance Sheet & Credit Profile Leverage Ratio & Common Unit Distribution Coverage Ratio ($ in 000s) 3/31/2026 Senior secured credit facility $74,100 Senior unsecured notes, net of debt issuance costs and discount 3,102,076 Less: Outstanding inventory financing sublimit borrowings (17,900) Less: Cash
Slide 22: Reconciliation: Segment Margin
Reconciliation Segment Margin ($ in 000s) YTD 2026 3/31/2025 6/30/2025 9/30/2025 12/31/2025 2025 Income (loss) from continuing operations before income taxes $19,257 ($36,417) $10,356 $23,029 34,343 $31,311 Net income attributable to noncontrolling interests (12,345) (8,769) (10,417) (13,569) (14,40
Slide 23: Reconciliation: Available Cash Before Reserves
Reconciliation Available Cash Before Reserves ($ in 000s) YTD 2026 3/31/2025 6/30/2025 9/30/2025 12/31/2025 2025 Net income (loss) attributable to Genesis Energy, L.P. $6,800 ($469,075) ($406) $9,207 $19,871 ($440,403) Interest expense, net 67,978 70,038 60,754 66,407 67,530 264,729 Income tax expen
Slide 24: Reconciliation: Adjusted Debt & Adjusted Consolidated EBITDA
Reconciliation Adjusted Debt & Adjusted Consolidated EBITDA ($ in 000s) Long-term debt 3/31/2026 12/31/2025 Senior secured credit facility $74,100 $6,400 Senior unsecured notes, net of debt issuance costs, discount and premium 3,102,076 3,040,415 Less: Outstanding inventory financing sublimit borrow
Slide 25: Reconciliation: Select Items
Reconciliation Select Items ($ in 000s) 3/31/2026 3/31/2025 6/30/2025 9/30/2025 12/31/2025 2025 Applicable to all Non-GAAP Measures Differences in timing of cash receipts for certain contractual arrangements (a) ($2,094) ($8,287) ($9,071) ($7,091) $4,552 ($19,897) Unrealized losses (gains) on deriva