Gibson Energy (GEI) Investor Day 2025 summary

Strategic direction and growth targets

• Targeting over 7% annual infrastructure EBITDA per share growth through 2030 and a clear line of sight to over 100% total shareholder return in five years.

• Growth strategy centers on disciplined capital allocation, optimizing core crude oil infrastructure, leveraging 'crown jewel' assets in Canada and the U.S., and expanding through organic projects, select M&A, and partnerships.

• Announced a $150 million growth capital program for 2026, including a $50 million Wink-to-Gateway integration project to enhance export capacity and support U.S. growth.

• Five-year capital deployment plan of $700 million to $1 billion across producer partnerships, pipeline extensions, tank additions, DRU expansions, and optimization projects.

• Focus on increasing terminal asset utilization from 85% to over 90% by 2026, with capital-free growth levers expected to add 2% annual growth.

Financial guidance and capital allocation

• Infrastructure EBITDA has grown at an 8% CAGR since 2020, with a consistent dividend supported by an 80% payout ratio and six consecutive annual increases.

• Over 95% of infrastructure revenue is secured by take-or-pay or fee-for-service contracts with investment-grade counterparties.

• Balance sheet leverage targeted at 4x or less, with a plan to return to the 3.0–3.5x range, and 75% of capital priorities funded by internally generated cash flow.

• $25 million in annual cost savings achieved in 2025, reducing operating costs per barrel by nearly 30% year over year.

• Dividend growth and share buybacks prioritized after funding growth and maintaining a strong balance sheet.

Asset performance and operational highlights

• Hardisty terminal achieved record throughput of 1.1 million barrels per day in 2025, with strong customer base and long-term contracts.

• Edmonton terminal doubled its footprint and volumes year over year, supported by new TMX-connected tanks and a 25-year biofuels contract.

• Gateway terminal on the U.S. Gulf Coast reached a quarterly record of 717,000 barrels per day, a 30% increase year over year.

• Wink facility now directs nearly 90% of volumes to Gateway, with a monthly high of 55,000 barrels per day.

• Industry-leading safety performance, ranked number one in North American midstream sector, with a TRIF of 0.22 and over 10 million hours without a lost-time injury.