Gibson Energy Inc. · TSX:GEI
Gibson Energy — Peters & Co. 2026 Annual Energy Conference
29 slides from Gibson Energy's conference presentation, September 2026
Slide 1: Focused Disciplined Growth
Focused Disciplined Growth Corporate Presentation Peters & Co. 2026 Annual Energy Conference September 2026
Slide 2: Gibson Energy Snapshot
Gibson Energy Snapshot Safely connecting customers to global markets, enhancing optionality and improving their netbacks Corporate Critically Located, Highly Contracted Committed Compelling Information Best-in-Class Infrastructure to Disciplined Total Return Liquids Infrastructure Business Financial
Slide 3: Industry-Leading Safety Performance
Industry-Leading Safety Performance Strong safety culture and disciplined execution underpin best-in-class performance Engaged Leadership Clear expectations and accountability embed safety across 10.8 Million+ the organization Hours without a lost time incident Operational Excellence 1 Billion+ Cons
Slide 4: 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: 3.0 mmbbl tankage Hardisty: 1 in 1 in4 4 13.5 mmbbl tankage WCSB WCSB barrels barrels through through GEI terminals GEI terminals Moose Jaw:
Slide 5: WCSB Production Growth Expands GEI’s Infrastructure Opportunity
WCSB Production Growth Expands GEI’s Infrastructure Opportunity Strategic hub positions create both capital-free and high-return investment opportunities +1.1 mmbbl/d 1 in 4 Contributes to Gibson’s WCSB production growth(1) WCSB barrels already move through (2025 to 2035E) Gibson’s terminals 7%+ 1.7
Slide 6: Chauvin Pipeline Acquisition
Chauvin Pipeline Acquisition $400 million acquisition expands conventional heavy crude capabilities with immediate organic growth ~30 mbbl/d(1) crude oil 50% of volume contracted Two near-term organic ~5% volume growth Additional future pipeline & infrastructure with Teine Energy growth projects sin
Slide 7: What We Said, What We Have Done
What We Said, What We Have Done Executing against the disciplined, high-return growth plan introduced at Investor Day Producer Extend Pipeline DRU Gateway Dock New Tanks Optimization Partnerships Network Expansion Expansion 2026–2030 2026–2030 2026–2030 2028+ 2026–2030 2030+ $300+ mm $250+ mm $250+
Slide 8: Gateway: More Barrels. More Markets. Better Economics.
Gateway: More Barrels. More Markets. Better Economics. Integrated supply and deepwater access are expanding Gateway's role in North American crude exports Permian Supply Growth (mmbbl/d)(1) Volumes in Motion(2) Top 2026 Destinations(3) 2025 2026 YTD FROM BASIN TO WATER (KBPD) (KBPD) South Korea 138
Slide 9: Marketing Upside Accelerates Infrastructure Reinvestment
Marketing Upside Accelerates Infrastructure Reinvestment Asset backed Marketing business creates value for customers by leveraging Infrastructure across N.A. Key Drivers Performance Levers 2:1:1 Crack Spreads (US$/bbl)(2) Avg. '21-'25 2026 Q3/26 ↑ Wider Differentials $80 Q4/26 Tops Q2/26 $71.95 ↑ Wi
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 $1B Pricing opportunity 7% + of growth capital over the next 5 years Cos
Slide 11: Positioned for Disciplined, Consistent Infrastructure Growth
Positioned for Disciplined, Consistent Infrastructure Growth Sustained growth through efficient capital deployment and supported by scale advantage Infrastructure EBITDA per Share Growth(1) ($/Share) Power of Small Numbers 7%+ CAGR Small projects deliver impactful (’25A-’30E) returns with limited ri
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 (Last 5 Years)(1) Forward Total Shareholder Return Proposition (by 2030) TSR: 91% 7%+ Annual Infrastructure EBITDA 36% Share Price per share(2) growth App
Slide 13: Financial Summary
Financial Summary GiBsoN ENERGY
Slide 14: 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 15: 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 16: 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 ($mm) (US$/bbl) (2) Infrastructur
Slide 17: Growth Driven by Infrastructure
Growth Driven by Infrastructure Enhanced quality of cash flows through stable Infrastructure EBITDA growth Segment EBITDA(1) Growth Proven Track Record ($mm; $/share) Marketing Infrastructure >6% $70 0 $5. 00 Infrastructure EBITDA per Infrastructure EBITDA / Share $63 $15 $4. 50 share(1) CAGR (2021-
Slide 18: 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) 7 Consecutive 5.2% CAGR annual dividend increases since 2021 3rd Highest Yield among
Slide 19: Why Invest in Gibson?
Why Invest in Gibson? Premier infrastructure, disciplined growth and strong execution underpin compelling shareholder returns Critically located, best-in-class Stable, contracted cash flows Visible, capital-efficient growth liquids infrastructure with high-quality counterparties pipeline Energy secu
Slide 20: Appendix
GiBsoN ENERGY
Slide 21: GEI’s Strategic Locations Benefit from Expanding Egress in Canada
GEI’s Strategic Locations Benefit from Expanding Egress in Canada Increasing egress and associated supply growth create storage and utilization opportunities Total WCSB (mbbl/d) Oil Sands (mbbl/d) Oil Sands 21% 21% Producers Total Proposed Egress Projects: West Coast Oil Pipeline: 1.7+ mmbbl/d 1,000
Slide 22: Hardisty Terminal and DRU
Hardisty Terminal and DRU Highly connected, strategically located asset base with significant embedded growth optionality 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 conn
Slide 23: Edmonton Terminal
Edmonton Terminal Strategically positioned to capture continued TMX growth and expanding WCSB production 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 Site work co
Slide 24: Moose Jaw Facility
Moose Jaw Facility Oil processing facility producing asphalt, roofing flux, wellsite fluids, and intermediate feedstocks ~24,000 Connected Comprehensive to road, rail and Product Range Barrels per Day pipeline for optimal with diverse selection of asphalt of throughput capacity egress products and d
Slide 25: 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 26: Wink-to-Gateway Integration Project
Wink-to-Gateway Integration Project Enhancing ability to move supply concurrently from the Eagle Ford and Permian basins into Gateway 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 relie
Slide 27: Liquidity and Debt Maturity Profile
Liquidity and Debt Maturity Profile Significant available liquidity and staggered debt maturity profile Debt Maturity Profile (1) ($mm) BBB– rating Senior $1B Credit Facility (2) BBB(low) rating Senior Issued July 2026 Unsecured 3.60% Senior Senior Senior Senior Unsecured Senior Notes Unsecured Uns
Slide 28: 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 29: 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
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