Genesis Energy (GEL) EIC Investor Conference presentation summary

Business overview and segment performance

• Operates three market-leading segments: offshore pipeline transportation, marine transportation, and onshore transportation & services, generating $613 million in LTM segment margin as of March 31, 2026.

• Offshore pipeline transportation is the largest contributor, accounting for 68% of segment margin, with a robust footprint in the Central Gulf of America and long-term, low-decline contracts.

• Marine transportation features a modern, diversified fleet with structural industry tailwinds and high day rates, contributing 19% of segment margin.

• Onshore transportation integrates with major refineries and leads in sulfur removal services, providing steady cash flow and 14% of segment margin.

• Sulfur services business leverages proprietary technology for NaHS production, supporting refinery emissions reduction and consistent cash generation.

Financial performance and guidance

• FY 2026 Adjusted EBITDA guidance is $575–612 million, representing 15–20% growth over 2025 baseline.

• 1Q 2026 Adjusted EBITDA was $140.9 million, with segment margin at $156.4 million.

• Distribution coverage ratio stands at 1.99x for 1Q 2026, with a $0.18/unit quarterly distribution.

• Bank leverage ratio is 5.38x, with a long-term target of 4.0x.

• Path to growing free cash flow supported by minimal growth capex and disciplined capital allocation.

Capital structure and financing optimization

• $900 million revolver extended to March 2031, with $74 million drawn as of 1Q 2026.

• Issued $750 million of 6.75% senior unsecured notes due 2034 and redeemed $679 million of 7.75% notes due 2028.

• Repurchased $135 million of Series A preferred in 1Q 2026, with $394 million outstanding.

• Identified ~$80 million in potential annual run-rate financing savings through further refinancing and preferred repurchases.

• Simplified capital structure with ~$3.2 billion in secured and unsecured debt and ongoing deleveraging initiatives.