Crossamerica Partners Lp · NYSE:CAPL

Crossamerica Partners Lp — Merger or Acquisition (December 2018)

9 slides from Crossamerica Partners Lp's merger presentation, Dec 17, 2018

  1. Slide 1: Strategic Update December 2018

    Strategic Update December 2018 Exhibit 99.2

  2. Slide 2: Forward Looking Statement

    Forward Looking Statement Statements contained in this presentation that state the Partnership’s or management’s expectations or predictions of the future are forward-looking statements. The words “believe,” “expect,” “should,” “intends,” “estimates,” “target” and other similar expressions identify

  3. Slide 3: CrossAmerica Asset Exchange with Circle K

    CrossAmerica Asset Exchange with Circle K

  4. Slide 4: Exchange of Assets/Transaction Overview

    Exchange of Assets/Transaction Overview *Additional details regarding the asset exchange agreement are included in a joint (Couche-Tard and CrossAmerica) press release and Form 8-K filing, both issued on December 17, 2018, and available on the CrossAmerica website at www.crossamericapartners.com. Cr

  5. Slide 5: Exchange of Assets/Transaction Overview

    Exchange of Assets/Transaction Overview Dealers will be secured to operate sites while under Circle K ownership and then transacted to CrossAmerica Dealerized sites from Circle K will be exchanged for CAPL’s Master Lease and Upper Midwest Sites in tranches over a 24 month period Allows for quicker i

  6. Slide 6: Exchange of Assets/Transaction Overview: Benefits

    Exchange of Assets/Transaction Overview Benefits include: No external funding required to complete the transactions CAPL generates rental income and controls long-term fuel supply to the sites through fee ownership and ground leases Dealerization process prior to transactions helps streamline integr

  7. Slide 7: The Asset Exchange is an Additional Step in the CrossAmerica Long-Term Strategy

    The Asset Exchange is an Additional Step in the CrossAmerica Long-Term Strategy Leverage the scale and strength of our General Partner to optimize costs and capture synergies Participate in the consolidation of the highly-fragmented convenience and fuel retailing industry Improve cash flow to target

  8. Slide 8: Appendix

    c:.» Appendix December 2018 CROSSAMERICA PARTNERS LP

  9. Slide 9: Non-GAAP Financial Measures

    Non-GAAP Financial Measures Non-GAAP Financial Measures We use non-GAAP financial measures EBITDA, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio. EBITDA represents net income available to us before deducting interest expense, income taxes and depreciation, amortization and

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