Genesis Energy (GEL) Investor presentation summary

Business overview and segment performance

• Operates three market-leading segments: Offshore Pipeline Transportation (69% of LTM segment margin), Marine Transportation (17%), and Onshore Transportation & Services (14%).

• Offshore segment is the #1 deepwater crude pipeline operator in the central Gulf of America, with irreplaceable infrastructure and long-term, life-of-lease contracts.

• Marine segment features a modern, diversified Jones Act fleet with strong utilization and record day rates for key assets.

• Onshore segment provides refinery-centric pipelines, terminals, and sulfur removal services, with leading positions in feedstock facilitation and NaHS production.

• Total segment margin for the last twelve months was $647 million as of June 30, 2026.

Financial highlights and capital allocation

• Achieved $171.5 million Adjusted EBITDA and $169.5 million segment margin in 2Q 2026; FY26 Adjusted EBITDA guidance is $575–612 million, expecting the low end.

• Maintains ample liquidity with a $900 million revolver extended to March 2031 and no near-term refinancing risk; nearest unsecured maturity is in 2029.

• Bank leverage ratio at 5.0x with a long-term target of ~4.0x; path to lower leverage supported by free cash flow generation and disciplined capital allocation.

• $95 million from sale of non-core offshore gas assets and $99.5 million accounts receivable facility established to strengthen the balance sheet.

• $83 million of Series A preferred repurchased in 2Q26, with $311 million outstanding; $543 million retired to date, resulting in ~$25 million annual financing savings.

Growth drivers and operational outlook

• Offshore segment benefits from multi-year, producer-funded expansions, with new wells at Monument, Shenandoah, and Salamanca fields driving volume growth.

• Marine segment at full capacity with all scheduled dry-dockings complete and strong market fundamentals.

• Onshore segment outperformed expectations, with steady volumes and consistent sulfur services demand.

• Deepwater Gulf of America crude oil production projected to grow ~91% from 2013–2027, supported by tiebacks and new field developments.

• Recent and upcoming federal lease sales near existing infrastructure provide long-term stability and future growth opportunities.