Slide 1: Investor Conference Call: Divestiture of Retail Operations in Continental U.S.
Exhibit 99.2 INVESTOR DIVESTITURE OPERATIONS April 6, 2017CONFERENCE IN OFCONTINENTAL RETAIL CALL U.S.
Slide 2: Forward-Looking Statements and Non-GAAP Measures
FORWARD-LOOKING involve expected generally performance. also presentation: or the maintaining instituted guarantees. uncertainties and on most Adjusted Relations (214) at Form10-Q timeframe other forward-looking all, directly 840-5678 risks, including future EBITDA can against risks Contact Such rel
Slide 3: Deal Overview and Terms
DEAL Sunoco other Assets Includes Excludes Aloha No –Existing Estimated 3Use Structured Provides Maintains impact ofinventories Petroleum TERMS divested: proceeds: LP retail trademarks approximately completion: to for (“SUN”) Sunoco around APlus gallons committed OVERVIEW Approximately Debt at will
Slide 4: Strategic Decision to Divest Convenience Stores in Continental U.S.
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Slide 5: Finished Product Wholesale Highlights within the Energy Transfer Family
FINISHED Highlights Limited of Pro 29% Dealer Attractiveness Third wholesale 5Wholesale scale Forma 26% parties Distributor direct 13% channels Customer of Wholesale PRODUCT are the commodity of 31% attracted Wholesale SUN Commercial targeting Terminal Volume Iconic COMPANY to risk Business the its
Slide 6: Improved Financial Position with New Long-Term Leverage Target
IMPROVED distribution business 5.00x Q3 M&A 2017 4.50x along model Q4coverage 4.00x with 2017 FINANCIAL further high-return Q1 3.50x ratio 2018 reduces 3.00x of STATE Q2organic 1.1x New 2018 costs Year WITH Long-Term Q3 beyond growth 12018 will NEW the 6be Q4Leverage previously LONG-TERM impacted 20
Slide 7: Illustrative Timing and Steps
ILLUSTRATIVE Regulatory Announcement and By Counterparty TIMING Q4 2017AND Expected Approvals STEPSDivestiture By Expected Q4 2017Close Timing Expected ByFrom yearTransaction Announcement end, SUN will Close be To April aClosing: focused, 2017 3Begin MLP – 6 Months qualifying Marketing April busines
Slide 8: Key Takeaways
KEYstep Pivotal Opportunity Stable Immediate First costs, With industry Fixed Credit-enhancing 8fragmented aTAKEAWAYS and margin cash robust first Continue in aimprovement flow wholesale simplified step strategic tocontracts 15-year partner in profile transaction totransforming grow shift fuel marke