Genesis Energy (GEL) Citi’s 2025 Natural Resources Conference presentation summary

Investment highlights and financial outlook

• Diverse portfolio of long-lived, market-leading businesses with high barriers to entry and significant operating leverage.

• Ample liquidity and financial flexibility supported by an $800 million credit facility maturing in 2028.

• Expectation of Adjusted EBITDA growth and declining growth CapEx, driving increased cash flow.

• Positioned to increase return of capital through debt reduction, preferred unit redemption, and potential distribution increases.

• Current quarterly distribution is $0.165 per common unit, with future growth under board evaluation.

Offshore pipeline transportation and expansion

• Integrated asset footprint in the Gulf of America, with ~2,400 miles of pipelines and associated platforms.

• Major capital spending program completed; step change in offshore segment financial contribution expected from 3Q 2025.

• Shenandoah came online in July 2025; Salamanca expected late 3Q 2025, adding ~200k bbl/d of incremental capacity.

• New SYNC pipeline commissioned, connecting Shenandoah to CHOPS system.

• Take-or-pay agreements and life-of-lease dedications underpin commercial stability for new developments.

Marine and onshore transportation

• Marine transportation benefits from a modern fleet and industry tailwinds, with steady earnings expected in 2025.

• Onshore assets provide critical refinery logistics, including connections to major ExxonMobil refineries.

• Leading refinery sulfur removal business with consistent cash flow and significant barriers to entry.