Gibson Energy Inc. · TSX:GEI
Gibson Energy — Investor Presentation (May 2026)
33 slides from Gibson Energy's investor presentation, May 2026
Slide 1: Focused Disciplined Growth – Corporate Presentation Q1 2026
Focused Disciplined Growth Corporate Presentation Q1 2026
Slide 2: Gibson Energy Snapshot
Gibson Energy Snapshot Safely connecting customers to global markets through innovative and reliable energy solutions Corporate Critically Located, Highly Contracted Committed Compelling Information Best-in-Class Infrastructure to Disciplined Total Return Liquids Infrastructure Business Financial Pr
Slide 3: Why Invest in Gibson?
Why Invest in Gibson? Disciplined strategy and premier crude oil Infrastructure assets underpin compelling value proposition Critically Located, Best-in-Class Customer Focused, Top Decile Liquids Infrastructure Operator with Ownership Mentality Optimize utilization & performance Ensure alignment wit
Slide 4: Focused and Disciplined Strategy
Focused and Disciplined Strategy Premier crude oil Infrastructure assets underpin compelling per share value proposition Crude Oil Crown Jewel Infrastructure Focus Asset Base Growth Positioned to capitalize on increased global Optimize the performance of each asset Executing on pipeline of organic o
Slide 5: Best-In-Class Safety Performance
Best-In-Class Safety Performance Continuous improvement of our safety programs and culture is driving industry-leading performance Industry-leading safety metrics across Canada and the U.S. ZERO Great operations start with great safety Lost time incidents, motor vehicle incidents or recordable injur
Slide 6: Critically Located, Best-in-Class Liquids Infrastructure
Critically Located, Best-in-Class Liquids Infrastructure Over 25 million barrels of terminal capacity supporting critical North American crude egress Edmonton: 1 in 44 1 in WCSB barrels WCSB through barrels GEI terminals through GEI terminals 3.0 mmbbl tankage ~50 %% Hardisty: 13.5 mmbbl tankage Moo
Slide 7: Strategically Aligned with Long-Term Oil Market Growth
Strategically Aligned with Long-Term Oil Market Growth Critical, crown jewel assets positioned to capitalize on increased global oil demand and growing exports Global Oil Supply & Demand Forecast(1) Total Crude Exports Forecast(1) WCSB Production Forecast(2) (mmbbl/d) (mmbbl/d) (mmbbl/d) ~900 9%+ ~3
Slide 8: Positioned for Disciplined, Consistent Infrastructure Growth
Positioned for Disciplined, Consistent Infrastructure Growth Sustained growth through efficient capital deployment and supported by scale advantage Infrastructure EBITDA per Share Growth(1) ($/Share) Power of Small Numbers 7%+ Small projects deliver impactful CAGR returns with limited risk (’25A-’30
Slide 9: Disciplined, High-Return Growth 2026 & Beyond
Disciplined, High-Return Growth 2026 & Beyond Expand critical Infrastructure footprint through disciplined growth within target 5–7x build multiple Producer Extend Pipeline DRU Gateway Dock New Tanks Optimization Partnerships Network Expansion Expansion 2026-2030 2026-2030 2026-2030 2028+ 2026-2030
Slide 10: Growth Expectations
Growth Expectations Deliver 7%+ Infrastructure EBITDA per share(1) growth through focused capital investment and optimization Growth Projects Capital-Free Upside Deliver at 5-7x build multiple Asset utilization Deploy $700mm to $1B of growth capital over Pricing opportunity 7%+ the next 5 years Cost
Slide 11: Capital-Free Growth Levers Driving 2%+ CAGR from Infrastructure
Capital-Free Growth Levers Driving 2%+ CAGR from Infrastructure Unlock an average of 2%+ per year of incremental value through optimization Asset Utilization Pricing Cost Discipline Terminals Gateway Contract Structure Cost Efficiency Reduction in Marketing Opportunity for additional Standard contra
Slide 12: Attractive Total Return Proposition
Attractive Total Return Proposition Gibson expects to generate a total return of over 100% by the end of 2030 Historical Total Shareholder Return (Since 2021)(1) Forward Total Shareholder Return Proposition (by 2030) TSR: 106% 7%+ Annual Infrastructure EBITDA Share Price per share(2) growth 44% Appr
Slide 13: Canadian Assets
Canadian = TSX | GEI GIBSON ENERGY
Slide 14: Hardisty Terminal and DRU
Hardisty Terminal and DRU Dominant land position with a long history of operations and the optionality for continued growth Hardisty Terminal Hardisty DRU Essential location tied to the oil sands with 500+ acres Sole access point for DRU egress from WCSB at Hardisty available for new tankage Most co
Slide 15: Hardisty: Chauvin Pipeline
Hardisty: Chauvin Pipeline Expands conventional heavy crude capabilities with immediate organic growth projects T44 Chauvin ~30 mbbl/d(1) 50% of volume Two actionable T43 Hardisty Terminal crude oil pipeline & contracted with expansion Oil Hub infrastructure Teine Energy opportunities T42 Hardisty o
Slide 16: Hardisty: Chauvin Pipeline – Organic Growth Projects
Hardisty: Chauvin Pipeline – Organic Growth Projects Near-term infrastructure growth projects competitive with highest-return organic opportunities Gibson Hardisty Connection Sanctioned project to add interconnection with Gibson's existing Hardisty terminal assets (currently connected to third-par
Slide 17: Edmonton Terminal
Edmonton Terminal Attractive terminal position, with two new tanks recently placed in-service Prime location near two major refineries, pipeline alley, and CN/CP rail access Three TMX-connected tanks doubled footprint, backed by long-term agreements with strong counterparties Strategic producer part
Slide 18: Moose Jaw Facility
Moose Jaw Facility Oil processing facility producing asphalt, roofing flux, wellsite fluids, and intermediate feedstocks ~24,000 Connected to road, rail and Comprehensive Product Range Barrels per Day pipeline for optimal with diverse selection of asphalt of throughput capacity egress products and d
Slide 19: U.S. Assets
U.S. Assets TSX GEI
Slide 20: Gateway Terminal
Gateway Terminal Financial and operational strengths enable the most efficient U.S. crude export solution Volume – Pre vs. Post Dredging Two deep water VLCC-capable docks with maximum (mbbl/d) allowable draft and direct access to key basins ~30% 750 670 580 Ample storage capacity (8.6 mmbbls) with l
Slide 21: Wink Terminal
Wink Terminal Delivering improved producer netbacks and increased supply liquidity for Gateway customers Marathon Flintlock Pipeline Jackrabbit Commercial integration is driving incremental volumes to Terminal Gateway, now representing ~90% of Wink throughput, and boosting overall Gateway capacity u
Slide 22: Wink-to-Gateway Integration Project
Wink-to-Gateway Integration Project Majority of $50mm sanctioned capital related to Wink-to-Gateway integration project Wink Terminal Expansion NM OK 100,000 barrel of new tank capacity, and other facility upgrades at the Wink Terminal to meet customer demand and New Tank Permian relieve capacity co
Slide 23: Financial Summary
Financial Summary TSX | GEI GIBSON ENERGY
Slide 24: Financial Principles
Financial Principles Strong cash flow visibility and disciplined financial targets support sustained growth Highly Secured >95% of Infrastructure revenues from take-or-pay and high-quality fee-for-service contracts(1) Contract Structure Quality of Cash Flows Creditworthy >85% of Infrastructure reven
Slide 25: Disciplined Approach to Capital Allocation
Disciplined Approach to Capital Allocation Balancing disciplined growth and meaningful capital returns to create long-term, per share value Disciplined capital allocation ensures financial strength and drives long-term value Core Priorities Secondary Priorities Fund Invest in Maintain Fund steady Ex
Slide 26: Stable, Contracted, High-Quality Cash Flows
Stable, Contracted, High-Quality Cash Flows Stable Infrastructure business growth allows for consistent performance in all oil price environments Infrastructure EBITDA(1) has demonstrated stability since Q3 2023 (post-Gateway), despite meaningful fluctuations in WTI ($mm) (2) (US$/bbl) Infrastructur
Slide 27: Growth Driven by Infrastructure
Growth Driven by Infrastructure Enhanced quality of cash flows through stable Infrastructure EBITDA growth Segment EBITDA(1) Growth >6% ($mm; $/share) Marketing $700 Infrastructure $5.00 Infrastructure EBITDA per Infrastructure EBITDA / Share share(1) CAGR (2021-2025) $63 $15 $4.50 $600 $145 ~4% $4.
Slide 28: Proven Record of Delivering Shareholder Returns
Proven Record of Delivering Shareholder Returns Reliable, growing dividends deliver attractive returns for shareholders Dividend Growth Track Record Attractive Dividend Yield Relative to Investment Grade Peers(1,2,3) 7 Consecutive 5.2% CAGR annual dividend increases since 2021 5th Highest Yield amon
Slide 29: Appendix
Appendix TSX GEI
Slide 30: Marketing Upside Accelerates Infrastructure Reinvestment
Marketing Upside Accelerates Infrastructure Reinvestment Asset backed Marketing business creates value for customers by leveraging Infrastructure across N.A. Key Drivers Performance Levers ↑ Wider Differentials Tops ↑ Wider 2:1:1 Crack Spreads Refined ↑ Drilling Activity Drilling Fluids Products ↑ W
Slide 31: Liquidity and Debt Maturity Profile
Liquidity and Debt Maturity Profile Significant available liquidity and staggered debt maturity profile Debt Maturity Profile ($mm) Senior $1B BBB– rating Sustainability Linked Credit Facility(1) BBB(low) ra ng Senior Unsecured 3.60% Senior Notes Senior Senior Senior Unsecured Unsecured Unsecured Un
Slide 32: Forward-Looking Statement Notice
Forward-Looking Statement Notice Definitions All references in this presentation (the “Presentation”) to Gibson’s business and asset base are only inclusive of the equity portion of facilities Gibson owns and operates. Forward-Looking Statements Certain statements contained in this Presentation cons
Slide 33: Specified Financial Measures
Specified Financial Measures Specified Financial Measures This presentation contains references to certain non-IFRS financial measures and ratios and industry measures that are used by the Company, as indicators of financial performance. These measures include: EBITDA, Adjusted EBITDA, Net Debt, Dis