Gibson Energy Inc. · TSX:GEI
Gibson Energy — Investor Presentation (March 2025)
27 slides from Gibson Energy's investor presentation, March 2025
Slide 1: Corporate Presentation
March 2025 Corporate Presentation TSX:GEI DELIVERING ENERGY WORKING OPERATING WITH RESPONSIBLY TOGETHER EXCELLENCE
Slide 2: Gibson Energy Snapshot (TSX: GEI)
Gibson Energy Snapshot (TSX: GEI) Gibson is a diversified North American energy infrastructure platform underpinned by high quality terminal assets GIBSON ENERGY INVEST OR PRESENT ATION Corporate Leading North American Highly Contracted Committed to Governing Continued ESG Information Terminals Plat
Slide 3: Liquids Infrastructure Focused
Liquids Infrastructure Focused ~80% of Segment Profit from core Terminals and ~90% Infrastructure 13.5 mmbbl Existing Tankage 3.0 mmbbl Existing Tankage 8.6 mmbbl Existing Tankage Hardisty DRU with 50 kbbl/d Inlet Capacity Edmonton 2x 435 kbbl New Tanks Online in Q4 2024 Gateway 3.0 mmbbl/d of Pipel
Slide 4: Strategically Located Terminal Assets
Strategically Located Terminal Assets Over 25 mmbbl of total terminal capacity at critical North American energy hubs Hardisty Edmonton Gateway GIBSON ENERGY INVEST OR PRESENT ATION 13.5 mmbbl 3.0 mmbbl 8.6 mmbbl ▪ Leading market position in the heart of the ▪ Connected to major egress pipelines ▪ S
Slide 5: Focused Strategy
Focused Strategy Premier liquids infrastructure assets to underpin compelling per share growth over time Leverage Terminals Position Complementary Growth GIBSON ENERGY INVEST OR PRESENT ATION Liquids ▪ ~80% of Segment Profit from Terminals ▪ Target to deploy up to $200mm between growth Infrastructur
Slide 6: Segment Profit Growth
Segment Profit Growth Infrastructure has grown significantly and consistently over the past decade Growth in Segment Profit (1,2) (C$mm) Near-Term Growth Drivers GIBSON ENERGY INVEST OR PRESENT ATION Marketing Above Run Rate(2) Existing projects provide Gateway re-contracting – grow and extend fixed
Slide 7: Infrastructure Revenue by Contract Structure
Infrastructure Revenue by Contract Structure Delivered ~20% Infrastructure Revenue CAGR since 2011 driven by Take-or-Pay revenues ▪ Growth in proportion of Take-or-Pay revenues within Infrastructure reflective of capital discipline and adherence to Financial Governing Principles over the past decade
Slide 8: Distributable Cash Flow Growth
Distributable Cash Flow Growth Sustained growth in core Infrastructure driving meaningful DCF per share growth Growth in DCF and DCF/Share(1) ▪ Distributable Cash Flow per share has grown at a ~10% CAGR GIBSON ENERGY INVEST OR PRESENT ATION (C$mm) Existing projects and future sanctions expected to d
Slide 9: Financial Governing Principles
Financial Governing Principles Gibson maintains a strong financial position by adhering to existing targets Committed Target Performance GIBSON ENERGY INVEST OR PRESENT ATION Highly Secured >80% of Infrastructure revenues from take-or-pay and high-quality >95% Infrastructure revenue from Cash Flows
Slide 10: Long-Term Capital Allocation Priorities
Long-Term Capital Allocation Priorities Priority remains to fund the business and then return capital when business is fully-funded Fund the Business Return Capital to Shareholders GIBSON ENERGY INVEST OR PRESENT ATION FUND DIVIDEND FUND DIVIDEND INFRASTRUCTURE SHARE BUYBACKS GROWTH GROWTH Payout Co
Slide 11: Western Canada Egress Environment & Outlook
Western Canada Egress Environment & Outlook Excess egress driven by TMX enabling customer growth and driving tankage demand, but expected to tighten by 2026-27 ▪ Current excess egress environment was driven by TMX coming online in May 2024 and introducing 590,000 bbl/d of new takeaway capacity GIBSO
Slide 12: Hardisty Terminal – Overview
Hardisty Terminal – Overview Future opportunities to grow at Hardisty at an attractive EBITDA build multiple Dominant Land Position COLD LAKE GIBSON ENERGY INVEST OR PRESENT ATION N ▪ Located at the heart of the Hardisty footprint HARDISTY TOP OF ▪ 240 acres of land holdings adjacent to existing tan
Slide 13: Hardisty Terminal – Best-in-Class Connectivity
Hardisty Terminal – Best-in-Class Connectivity Replicating Gibson’s competitive position not possible and is cost prohibitive Superior Connectivity Inbound Pipeline Connections(1) GIBSON ENERGY INVEST OR PRESENT ATION ▪ Flexibility offered by Gibson’s existing best-in-class connectivity provides a (
Slide 14: DRU at Hardisty – Overview
DRU at Hardisty – Overview High-quality infrastructure project leveraging and extending Hardisty position First DRU in WCSB Extension of Hardisty GIBSON ENERGY INVEST OR PRESENT ATION ▪ 50%/50% joint venture between Gibson and USD ▪ Further improves the Gibson’s best-in-class connectivity at Hardist
Slide 15: Edmonton Terminal – Overview
Edmonton Terminal – Overview Attractive terminal position, with two new tanks recently placed in-service in Q4 2024 ▪ Expanding asset base at Edmonton to meet demand from new TMX shippers ▪ Placed one 435kbbl tank under a long-term take-or-pay with a creditworthy customer into service in Q4 2023 GIB
Slide 16: Marketing – Overview
Marketing – Overview Utilizes market insights and physical assets across North America to create value for customers and drive throughput ▪ Strategically sources feedstock through connections to pipelines and / or truck GIBSON ENERGY INVEST OR PRESENT ATION Refined Products ▪ Leverages Moose Jaw fac
Slide 17: Long-Term Permian Production Will Meet Increasing Export Demand
Long-Term Permian Production Will Meet Increasing Export Demand U.S. export macro favourable for the re-contracting strategy ▪ Geopolitical events have contributed to an increase in focus on energy security and diversification of energy imports ▪ Permian production is expected to grow over the long-
Slide 18: Gateway Terminal – Overview
Gateway Terminal – Overview Purpose-built commercial, operational and locational advantaged terminal designed to meet customer needs Key Asset Details GIBSON ENERGY INVEST OR PRESENT ATION ▪ Closest facility in Port of Corpus Christi to offshore Strategic Location lightering zone Newly-Constructed ▪
Slide 19: Strong Demand at Gateway Driving Infrastructure Growth
Strong Demand at Gateway Driving Infrastructure Growth Advantages of the Gateway are driving sustained Infrastructure growth for Gibson Advantaged-Location 2025 Growth Drivers GIBSON ENERGY INVEST OR PRESENT ATION ▪ Given its location in the Port of Christi outer harbour, in Ingleside, Texas, Contra
Slide 20: Safety is Foundational at Gibson
Safety is Foundational at Gibson Uncompromising view on health and safety ▪ Gibson is committed to continually improving its safety performance, enhancing its safety culture and promoting health and wellness ▪ Gibson has a dedicated Board Health and Safety Committee that is responsible for overseein
Slide 21: Sustainability Performance
Sustainability Performance Top ESG rankings from third-party providers with continued progress towards targets ESG Ratings Dashboard(1,2) AAA A- GIBSON ENERGY INVEST OR PRESENT ATION AAA MSCI Rating 2024 CDP Score AAA is best Grade; MSCI AA AA AAA ACHIEVED 12th Target of Racial, Ethnic Minority Out
Slide 22: Focused, Disciplined Growth Trajectory 2025+
Focused, Disciplined Growth Trajectory 2025+ Renewed focus on corporate culture to drive long-term success HEALTH & SAFETY GIBSON ENERGY INVEST OR PRESENT ATION FOUNDATION STRONG PEOPLE FOCUS ON COST & EFFICIENCY DELIVER AT GATEWAY LONG-TERM GROWTH 22
Slide 23: Appendix
A P PE N D IX 23 GIBSON ENERGY INVEST OR PRESENT ATION
Slide 24: Liquidity and Debt Maturity Profile
Liquidity and Debt Maturity Profile Significant available liquidity and staggered debt maturity profile Maturity Profile GIBSON ENERGY INVEST OR PRESENT ATION (C$mm) Senior $1B $1,000 Sustainability Linked Credit Facility ($45mm Drawn)(1) $800 Senior Unsecured 3.60% $600 Notes Senior Senior Senior S
Slide 25: Sustainability Targets
Sustainability Targets ENVIRONMENT 2 02 5 TARG ET 2 03 0 TARG ET OV ER A L L G HG IN T EN SI T Y Reduce our overall greenhouse gas intensity 15% 20% P RO CE S SI N G G H G I N T E N S I T Y T A RG E T Reduce our aggregate greenhouse gas intensity 30% 40% GIBSON ENERGY INVEST OR PRESENT ATION S T OR
Slide 26: Forward-Looking Statement Notice
Forward-Looking Statement Notice Def initions Sc ope 1 emissions are direct emissions from facilities owned and operated by Gibson; Sc ope 2 emissions are indirect emissions from the generation of purchased energy for Gibson’s owned and operated facilities; Sc ope 3 emissions are indirect emissions
Slide 27: Specified Financial Measures
Specified Financial Measures Specified Financial Measures This presentation contains references to certain non-IFRS fin an cial measures and ratios and indus try measures that are used by the Company, as indicators of financial performance. These measures include; Adjusted EBITDA, Net Debt, Distribu