SunocoCorp LLC (SUNC) investor relations material

Executive summary

• Adjusted EBITDA for Q1 2026 was $867 million, excluding $9 million in transaction expenses and benefiting from a $102 million one-time inventory gain, up from $458 million last year.

• Net income for Q1 2026 was $644 million, up from $207 million in Q1 2025, driven by acquisitions and a one-time gain on inventory sales.

• Closed the TanQuid acquisition, making the company Germany's largest independent terminal operator and contributing to segment growth.

• Achieved strong segment performance, with all divisions contributing to growth and integration of recent acquisitions progressing well.

• Announced a 6.25% increase in quarterly distribution, marking the sixth consecutive quarterly increase and reflecting financial stability.

Financial highlights

• Q1 2026 distributable cash flow as adjusted was $535 million, up from $310 million year-over-year.

• Revenue for Q1 2026 was $10.69 billion, up from $5.18 billion in Q1 2025.

• Operating income rose to $866 million from $296 million year-over-year.

• Growth capital expenditures totaled $106 million; maintenance capital was $93 million, with total capital expenditures at $199 million.

• Cash and cash equivalents at quarter-end were $718 million, with $2.2 billion available under the revolving credit facility.

Outlook and guidance

• Expectation for the TanQuid acquisition to be immediately accretive to distributable cash flow per unit in 2026.

• Targeting a multi-year distribution growth rate of at least 5%, with management expressing confidence in continued growth.

• Confident in delivering full-year EBITDA guidance even excluding the one-time inventory gain.

• On track to complete over $500 million in bolt-on acquisitions in 2026.

• Distribution increases reflect ongoing financial stability and successful execution of growth projects.