NGL Energy Partners LP · NYSE:NGL
NGL Energy Partners LP — Q2 2027 Earnings Presentation
14 slides from NGL Energy Partners LP's earnings presentation, Nov 5, 2026
Slide 1: Investor Presentation Fiscal Year 2027 Quarter 2
Investor Presentation Fiscal Year 2027 Quarter 2 November 2026 NYSE: NGL
Slide 2: Quarterly Summary of Results
Quarterly Summary of Results $192.4 MM $735–$745 MM 3.45 MM ~255,000 BBLS ADJUST ED EBIT DA FY2027 ADJUST ED EBIT DA GUIDANCE BARRELS PER DAY DISPOSED PERMIT T ED INJECT ION CAPACIT Y Continuing operations, up 15% from the Raised; assumes ~12% annual growth A record, up 22.9% from the prior year YTD
Slide 3: Quarterly Summary of Results
Quarterly Summary of Results SEGMENT EBITDA MIX Water Solutions $178.3 MM 87% OF SEGMENT EBITDA — Water transportation, treating, recycling and handling for upstream customers — Largest integrated water network of injection wells and large diameter pipe in the $204.4 MM Delaware Basin TOTAL — Long-t
Slide 4: Scale, Growth and Falling Unit Cost
Scale, Growth and Falling Unit Cost NGL Water Solutions is the largest integrated water disposal system in the Delaware Basin, underpinned by long-term MVCs and acreage dedications with investment grade counterparties. Produced water +28.5% Water Solutions Adjusted EBITDA +38.3% THOUS AN D BARR E LS
Slide 5: One of a kind system, built to win volumes
One of a kind system, built to win volumes Redundancy, scale and flow assurance THE SYSTEM Hub-and-spoke, built for redundancy — Long-haul pipeline transportation model and a fully built out, large diameter pipeline disposal system constructed to provide substantial capacity in anticipation of futur
Slide 6: Investment Grade Customer Base
Investment Grade Customer Base Preferred water solutions provider for producers in the Delaware Basin FY 2026 CUSTOMER BASE BY VOLUME Acreage dedications and MVCs — ~766,000 dedicated acres — >1,750 kbpd of produced water volume commitments, ~50% of physical volumes today Long-term contract tenor —
Slide 7: Liquids Logistics
Liquids Logistics 3,600 9 627,000 5 LEASE D RAILC ARS COMMON CARRIE R PIPELINES BARR EL S OF LEASED STOR AGE OWNED TERMIN AL S Centennial Energy Ambassador Pipeline — Fleet of 3,600 leased railcars — Propane pipeline connecting northern Michigan demand centers to Marysville storage and production co
Slide 8: Crude Oil Logistics
Crude Oil Logistics 550 150,000 5.2 MM 16 MILE PIPELINE BPD CAP ACI T Y BARR EL S OF STORAGE TRUCK UNLOADING BAYS Grand Mesa Pipeline NGL crude assets — 550 mile, 20” crude oil pipeline running from the DJ Basin to Cushing, — 3.6 MMbbls of storage at Cushing Oklahoma — 658,000 barrels of storage add
Slide 9: Appendix
Appendix a Za Appendix
Slide 10: Processing Capacity by Region
Processing Capacity by Region PERMITTED PROCESSING CAPACITY (BBLS/D) LOCATION FACILITIES WELLS OWN LEASE TOTAL Delaware Basin Texas & New Mexico 59 141 1,479,000 3,942,300 5,421,300 Eagle Ford Basin Texas 18 30 424,000 332,000 756,000 DJ Basin Colorado 13 30 378,000 142,500 520,500 Other Basins Texa
Slide 11: Q2 FY'27 Adjusted EBITDA by Segment
Q2 FY'27 Adjusted EBITDA by Segment THREE MONTHS ENDED SEPTEMBER 30, 2026 Water Liquids Crude Oil Corporate Continuing Discontinued $ IN THOUSANDS Consolidated Solutions Logistics Logistics and Other Operations Operations $ 94,683 $ 3,485 $ (56,603) $ (17,640) $ 23,925 $— $ 23,925 Operating income (
Slide 12: Q2 FY'26 Adjusted EBITDA by Segment
Q2 FY'26 Adjusted EBITDA by Segment THREE MONTHS ENDED SEPTEMBER 30, 2025 Water Liquids Crude Oil Corporate Continuing Discontinued $ IN THOUSANDS Consolidated Solutions Logistics Logistics and Other Operations Operations $ 92,354 $ 6,346 $ 8,224 $ (12,673) $ 94,251 $— $ 94,251 Operating income (los
Slide 13: Q2 FY'25 Adjusted EBITDA by Segment
Q2 FY'25 Adjusted EBITDA by Segment THREE MONTHS ENDED SEPTEMBER 30, 2024 Water Liquids Crude Oil Corporate Continuing Discontinued $ IN THOUSANDS Consolidated Solutions Logistics Logistics and Other Operations Operations $ 72,829 $ 2,629 $ 14,840 $ (8,807) $ 81,491 $— $ 81,491 Operating income (los
Slide 14: Contact and Market Data
Contact and Market Data NGL ENERGY PARTNE RS LP FORWARD LOOKING STATEME N TS This presentation includes "forward looking statements" within the meaning of federal securities laws. All NYSE ticker NGL statements, other than statements of historical fact, included in this presentation are forward look