Crude Oil Pipeline System

Report
Sunoco Logistics Partners L.P.
NYSE
SXL
Citi MLP / Midstream
Infrastructure Conference
August 21-22, 2013
Forward-Looking Statements
Statements we make that are not historical facts are forward-looking statements.
These forward-looking statements are not guarantees of future performance.
Although we believe the assumptions underlying these statements are reasonable,
investors are cautioned that such forward-looking statements involve risks and
uncertainties that may affect our business and cause actual results to differ materially
from those discussed in this presentation. Such risks and uncertainties include
economic, business, competitive and/or regulatory factors affecting our business, as
well as uncertainties related to the outcomes of pending or future litigation. Sunoco
Logistics Partners L.P. has included in its Annual Report on Form 10-K for the year
ended December 31, 2012, and in its subsequent SEC filings, cautionary language
identifying important factors (though not necessarily all such factors) that could cause
future outcomes to differ materially from those set forth in the forward-looking
statements. For more information about these factors, see our SEC filings, available
on our website at www.sunocologistics.com. We expressly disclaim any obligation to
update or alter these forward-looking statements, whether as a result of new
information, future events or otherwise.
This presentation includes certain non-GAAP financial measures intended to
supplement, not substitute for, comparable GAAP measures. Reconciliations of nonGAAP financial measures to GAAP financial measures are provided in the appendix
to this presentation. You should consider carefully the comparable GAAP measures
and the reconciliations to those measures provided in this presentation.
2
Sunoco Logistics Assets
3
Sunoco Logistics and Energy Transfer Assets
4
Energy Transfer Family of Companies
ENERGY TRANSFER EQUITY, L.P.
(NYSE: ETE)
LP Interest, GP Interest, IDRs, Class H Units*
LP Interest, GP Interest, IDRs
ENERGY TRANSFER PARTNERS, L.P.
(NYSE: ETP)
Intrastate
Transportation
and Storage
REGENCY ENERGY PARTNERS LP
(NYSE: RGP)
LP Interest, GP Interest, IDRs
SUNOCO LOGISTICS PARTNERS L.P.
(NYSE: SXL)
Interstate
Transportation
and Storage
Gathering and
Processing
Contract
Compression
& Treating
Crude Oil
Pipelines
Crude Oil
Acquisition &
Marketing
Midstream
Sunoco, Inc.
Retail
Marketing
Joint
Ventures
Terminal
Facilities
NGL / Refined
Product
Pipelines
NGL
Transportation
and Services
70% ETP Interest
Lone Star
NGL
30% RGP Interest
* Class H Units track 50% of the SXL GP and IDR economics
5
2Q13 Highlights

Record quarterly performance:
 $244 million Adjusted EBITDA

5% distribution increase (quarter over quarter):
 $2.29/unit to $2.40/unit (annualized)
 28% increase over 2Q12 distribution of $1.88/unit (annualized)
 3rd consecutive 5% quarterly increase; 33rd consecutive increase
overall

2013 Capital:
 Approximately $700 million of organic expansion capital
 Approximately $65 million of maintenance capital

Ended the quarter with a Debt to Adjusted EBITDA ratio of 2.4x
6
Distribution History
Average Annual
Paid Distribution
(per LP unit)

LP/GP
Split (%)
$3.00
Third consecutive
5% quarter over
quarter distribution
increase
50/50
$2.50
$2.40
$2.11
$2.00


33 consecutive
quarterly distribution
increases
Current annualized
distribution of $2.40
(3.7% yield as of
08/15/13)
$1.50
63/37
$1.00
$0.77
85/15
$0.67
98/2
$0.50
Distribution
Coverage
2008
2009
2010
2011
2012
1.7x
1.5x
1.3x
1.8x
2.2x
CAD*
*CAD: Current Annualized Distribution @ $2.40 per LP Share
7
EBITDA by Segment
($MM)
2008
2012
Crude Oil Pipeline System
Crude Oil Acquisition and Marketing
Terminal Facilities
Refined Products Pipeline System
Crude Oil Pipeline System
Crude Oil Acquisition and Marketing
Terminal Facilities
Refined Products Pipeline System
9%
19%
34%
43%
28%
25%
13%
29%
Note: The Partnership's definition of Adjusted EBITDA and DCF was revised beginning in the fourth quarter 2012. Prior period
results have been recast to conform to the current presentation
8
Adjusted EBITDA: Ratable and Market Related

Maximize asset base by
taking advantage of
market opportunities
810
573


Distributions based on
ratable cash
372
399
319
Market related cash flow
increases coverage ratio
Note: The Partnership's definition of Adjusted EBITDA and DCF was revised beginning in the fourth quarter 2012. Prior period
results have been recast to conform to the current presentation
9
Major Organic Projects

Successful Open Seasons:
Three West Texas Crude expansion projects (crude oil)
Permian Express Phase I (crude oil)
Eaglebine Express (crude oil)
Allegheny Access (refined products)
Mariner West (natural gas liquids)
Mariner East (natural gas liquids)
Mariner South (natural gas liquids)

Actively developing:
 Granite Wash Extension (crude oil)
 Permian Express Phase II (crude oil)
 Mariner East Phase II (natural gas liquids)
10
Scheduled Project Start-up
Longview
Access
(1H2012)
Mariner
West
Allegheny
Access
(3Q 2013)
(Mid-2014)
Mariner East I
Propane
(2H 2014)
Mariner South
(1Q 2015)
2012
2013
2014
2015
2016
Granite Wash
Extension *
Houston
Access
Permian Express I
90 MB/D
Permian Express I
150 MB/D
(1H2012)
(2Q 2013)
(early 2014)
(4Q 2014)
Eaglebine
Express
Mariner East I
Ethane & Propane
(Mid-2014)
(Mid-2015)
Note: Nederland Access waiting on Pegasus to re-start
* Currently in Open Season
11
Organic Growth Capital
700
Optimize current asset base

Invest in organic extensions

Organic Projects:
West Texas Crude Projects
Permian & Eaglebine Express
Investment ($MM)

600
500
400
300
200
100
0
Mariner Projects
2008
2009
$1.4B in 11 year history
Marcus Hook facility acquired in
2013 for $60MM in cash
Investment ($MM)
Opportunistically acquire
complementary assets:
2012
2013P
700
Nederland / Eagle Point

2011
Organic Expansion Capital
Allegheny Access
Butane Blending
2010
600
500
400
300
200
100
0
2008
2009
2010
2011
2012
2013P*
Acquisition Capital
*SXL does not project future acquisitions
12
Original 110 MB/D West Texas Expansion – Crude Oil

West Texas Crude Expansion:
 Strong demand for takeaway
capacity out of the Permian Basin
 Existing crude pipeline
 Multiple destinations
 3 Successful Open Seasons
• Houston Access
– 40 MB/D (operational)
• Longview Access
– 30 MB/D (operational)
• Nederland Access
– 40 MB/D (waiting on
Pegasus)
West Texas Gulf Expansion
Permian Crude to Multiple Markets
 Fee-based income
13
Permian Express – Crude Oil
Additional West TX Crude Expansion:
 Continued strong demand for
takeaway capacity out of the
Permian Basin
 Phase I: Successful Open Season
• Wichita Falls to Nederland
• Existing pipeline
• Connection to Basin Pipeline
• 90 MB/D (operational)
• 150 MB/D capacity (early 2014)
 Phase II: Actively developing
• 200 MB/D additional capacity
• Origin: Permian Basin
• Destinations: Multiple refiners
and markets in the Mid Continent and along the Gulf
Coast
Permian Express I
Permian Crude to Nederland
Permian Express II
Permian Crude to the Mid-Continent and the Gulf
Coast via SXL and 3rd party pipelines
14
Eaglebine Express – Crude Oil


~60MB/D of takeaway
capacity from the Eaglebine
and Woodbine shale at
Hearne to Nederland
Eaglebine Express
Eaglebine / Woodbine Crude to Nederland
Existing MagTex pipeline
 MagTex acquired in 2008
 Underutilized refined
products pipeline

Expected to be operational in
the Mid-14

Successful open season
15
Granite Wash Extension – Crude Oil

Approximately 70MB/D of takeaway
capacity from the Granite Wash
Shale to Ringgold
 Ability to ultimately connect to
multiple SXL and 3rd party
pipelines
 Destinations include refiners
and markets in the MidContinent and along the Gulf
Coast

~200 miles of new pipeline

Expected to be operational in 4Q14

Open season launched in July 2013
Granite Wash Extension
Granite Wash Crude to the Mid-Continent and the
Gulf Coast via SXL and 3rd party pipelines
16
Allegheny Access – Refined Products

Midwest products to Eastern Ohio
and Western Pennsylvania:
Allegheny Access
Ohio Products to Pittsburgh
 Strong demand to move
Midwest refined products east
• Refinery expansions
• Refinery economics
 Utilizes existing and new assets
 Successful Open Season
• Initial capacity of 85 MB/D
• Expandable to 110 MB/D
 Fee-based income
 Mid-14 projected start-up
17
Mariner West and East – Natural Gas Liquids
Mariner West
Ethane from Houston to Sarnia
Mariner East
E/P from Houston to Marcus Hook
18
Mariner West and East – Details

Comprehensive Marcellus Shale Pipeline Solution
Strong demand for NGL takeaway capacity out of the Marcellus
Successful Open Seasons for both West and East
Fee-based income
Primarily existing pipeline (optimizing Northeast/Midwest refined product pipelines)

Mariner West
Ethane pipeline from Houston, PA to Sarnia, Ontario
Line fill commenced July 2013
September 2013 at ~20 MB/D
Ramping up by 1Q14 to 50 MB/D capacity (expandable)

Mariner East
Propane and Ethane pipeline from Houston, PA to the Marcus Hook Facility
Marine terminal at Marcus Hook with export options
70 MB/D capacity
2H14: propane start-up; mid-15: ethane and propane
Due to substantial interest, actively developing a Phase II
19
Marcus Hook – Natural Gas Liquids

Acquired from Sunoco, Inc. – $60MM

Continued commitment to growth in natural
gas liquids

Anchors the Mariner East project

Located near the Marcellus and Utica
shales, the site offers many features:
 Five underground caverns for storing
NGLs
 Deep water berths, rail access, truck
capability and advantageous pipeline
infrastructure
 A northeast NGL hub, capable of
handling a broad array of NGLs and
located <300 miles from the Marcellus,
is very attractive to producers as well
as local and overseas consumers.
20
Mariner South – Natural Gas Liquids

Export NGLs from Gulf Coast:
 Joint project between SXL and
Lone Star (ETP/RGP)
Mariner South
NGLs from Mont Belvieu to Nederland
 Project originates at Lone Star’s
fractionation facility in Mont
Belvieu
 An SXL pipeline would transport to
Nederland Terminal for exporting
 Comparable to Mariner East
 Received sufficient commitments
to proceed
 Fee-based income
 1Q15 projected start-up
 Excellent example of synergies
within Energy Transfer family
21
Summary

Geographically diverse asset base and strong business
fundamentals

Commitment to Investment Grade credit rating

Flexible capital structure to support growth and
distribution coverage

Experienced management team

Excellent prospects for future growth
22
Appendix
2008 – 2012 Adjusted EBITDA (Prior Definition)
A-1
Adjusted EBITDA Definition
Category
Proportionate share of Unconsolidated
Affiliates' (JV) interest, depreciation
and provision for income taxes
-Explorer
-Wolverine
-West Shore
-Yellowstone
Prior Definition
Recorded at SXL's
ownership share of JV's
Total Net Income
New Definition
Recorded at SXL's
ownership share of JV's
Total Adjusted EBITDA
Income Attributable to noncontrolling
interests (in Consolidated Affiliate JVs)
-Mid-Valley
-West Texas Gulf
-Inland
Excluded from Adjusted
EBITDA
Included in Adjusted
EBITDA
Non-Cash Compensation Expense
Included as reduction to
Adjusted EBITDA
Excluded from Adjusted
EBITDA
Unrealized Gain/Loss on Commodity
Risk Management Activities
Included in Adjusted
EBITDA as an increase
(gain) or reduction
(loss)
Excluded from Adjusted
EBITDA
A-2
2008 – 2012 Adjusted EBITDA (New Definition)
A-3
Distributable Cash Flow (DCF) Definition
Category
Distributions versus Adjusted
EBITDA of Unconsolidated
Affiliates (JVs)
Prior Definition
No Adjustment
Distributable Cash Flow
attributable to noncontrolling
interests (in Consolidated
Affiliates JVs)
No Adjustment
New Definition
Subtract Adjusted EBITDA;
add cash dividends
received(1)
Subtract DCF attributable to
noncontrolling interests in
consolidated joint ventures(2)
(1) Restated DCF reflects SXL’s cash dividends received from unconsolidated affiliates
(2) Restated DCF reflects SXL’s ownership share (%) of consolidated joint venture DCF
A-4
2008-2012 DCF (New Definition)
(1) Excludes non-cash amortization of fair value adjustment on long-term debt ($6 million in 2012)
A-5
Joint Venture Ownership
Consolidated Affiliates (JVs):
Inland
SXL
Citgo
Mid-Valley
83.8%
16.2%
91.0%
9.0%
West Texas Gulf
SXL
60.3%
Chevron
28.3%
Citgo
11.4%
West Shore
Buckeye
34.6%
Shell
18.9%
Citgo
18.4%
SXL
17.1%
ExxonMobil
11.0%
Wolverine**
ExxonMobil 36.2%
SXL
31.5%
Shell
17.2%
Citgo
9.5%
Marathon
5.6%
SXL
Chevron
Unconsolidated Affiliates (JVs):
Explorer*
Shell
Marathon
Chevron
Phillips 66
SXL
American Capital Group
36.0%
17.4%
16.6%
13.8%
9.4%
6.8%
Yellowstone
Phillips 66
46.0%
ExxonMobil
40.0%
SXL
14.0%
Undivided Interest JV’s:
Harbor
SXL
Phillips 66
Mesa
66.7%
33.3%
Plains
SXL
63.0%
37.0%
Bold - denotes operator
*
Operated by Explorer’s employees
**
Operated by Wolverine’s employees
A-6
Historical Financial Results
($MM)
2008
2009
2010
2011
2012
Crude Oil Pipelines
Crude Oil Acquisition & Marketing
Terminal Facilities
Refined Products Pipelines
Total Adjusted EBITDA
138
41
81
59
319
147
46
105
74
372
156
39
127
77
399
207
148
149
69
573
275
239
225
71
810
Interest expense, net
Provision for income taxes
Maintenance Capital Expenditures
Amortization of fair value adjustment on long-term debt
Distributions versus adjusted EBITDA of unconsolidated affiliates
Distributable cash flow attributable to noncontrolling interests
Distributable Cash Flow (DCF)
31
26
24
238
45
32
31
264
73
8
37
36
3
242
89
25
42
17
10
390
79
32
50
6
28
11
604
Expansion Capital*
111
144
146
171
324
144
1.7x
182
1.5x
193
1.3x
214
1.8x
277
2.2x
Total Distribution (accrual basis)
Distribution Coverage Ratio
Note: The Partnership's definition of Adjusted EBITDA and DCF was revised beginning in the fourth quarter 2012. Prior period
results have been recast to conform to the current presentation
* Excludes major acquisitions
A-7
SXL Non-GAAP Financial Measures
($MM)
Net Income
Interest expense, net
Depreciation and amortization expense
Impairment charge
Provision for income taxes
Non-cash compensation expense
Unrealized losses / (gains) on commodity risk management activities
Proportionate share of unconsolidated affiliates' interest, depreciation
and provision for income taxes
Adjustments to commodity hedges resulting from "push-down" accounting
Gain on investments in affiliates
Adjusted EBITDA(1)
Interest expense, net
Amortization of fair value adjustments on long-term debt
Provision for income taxes
Maintenance capital expenditures
Distributions versus Adjusted EBITDA of unconsolidated affiliates
Distributable Cash Flow attributable to noncontrolling interests
Distributable Cash Flow(1)
Twelve Months Ended December 31,
2008
2009
2010
2011
2012
214
31
40
6
4
-
250
45
48
5
-
348
73
64
3
8
5
2
322
89
86
31
25
6
(2)
531
79
139
9
32
8
3
24
24
372
(45)
(32)
(31)
264
24
(128)
399
(73)
(8)
(37)
(36)
(3)
242
16
21
(12)
810
(79)
(6)
(32)
(50)
(28)
(11)
604
319
(31)
(26)
(24)
238
573
(89)
(25)
(42)
(17)
(10)
390
(1) Management of the Partnership believes Adjusted EBITDA and distributable cash flow information enhances an investor's
understanding of a business’s ability to generate cash for payment of distributions and other purposes. Adjusted EBITDA and
Distributable Cash Flow do not represent and should not be considered alternatives to net income or cash flows from operating
activities as determined under United States generally accepted accounting principles (GAAP) and may not be comparable to
other similarly titled measures of other businesses. Historical amounts presented have been recast to conform to current period.
Note: The Partnership's definition of Adjusted EBITDA and DCF was revised beginning in the fourth quarter 2012. Prior period
results have been recast to conform to the current presentation
A-8
Capitalization
($MM)
Debt
Senior Notes, net(1)
As of 6/30/13
2,148 fixed
(2)
Unamortized fair value adjustments, net
$350 MM SXL Revolver (matures August 2016)
$200 MM SXL Revolver (matures August 2014)
$35 MM WTG Revolver (matures April 2015)
Total Debt(1)(2)
Equity
Limited Partners
General Partner
Total Partners’ Capital
Non-Controlling Interest
Total Equity(3)
131
floating
floating
35 floating
2,314
5,297
905
6,202
125
6,327
Rating: BBB- / Baa3 / BBB (S&P, Moody’s, Fitch), stable outlook
(1) Includes unamortized bond discount of ($2MM)
(2) In accordance with purchase accounting, the Partnership's Senior Notes were accounted for at fair value upon the closing
of Energy Transfer's acquisition of the Partnership's general partner. At 6/30/13, there was $131MM of net
unamortized fair value adjustments, which includes $12MM of amortization which was recognized as a reduction of
interest expense during 1H13.
(3) In accordance with purchase accounting guidance, the components of the Partnership's consolidated equity balance were adjusted to fair
value and resulted in an increase in consolidated equity of $4.8 billion upon the closing of Energy Transfer's acquisition of the
Partnership's general partner.
A-9
Debt Maturity Schedule at 6/30/2013
($MM)
400
350
350
350
300
300
300
250
250
200
175
175
8.75%
6.13%
250
150
100
50
0
'13
'14
'15
'16
5.50%
-
'20
'21
4.65%
3.45%
'22
'23
6.85%
-
'40
'41
6.10%
4.95%
'42
'43
Note: Excludes Revolver borrowings
A-10
Debt to Adjusted EBITDA
3.5x
3.0x
2.5x
2.0x
1.5x
12/31/2008
Note:
12/31/2009
12/31/2010
12/31/2011
12/31/2012
6/30/2013
Adjusted EBITDA reflects last twelve months for the period ended.
Total Debt at 12/31/12 and 6/30/13 does not include unamortized fair value adjustments
A-11
Debt to Adjusted EBITDA
($MM)
Debt to Adjusted EBITDA Ratio
Total Debt
Less: Unamortized FV adjustments, net(1)
2008
December 31,
2009
2010
2011
2012
June 30,
2013
748
868
1,229
1,698
1,732
2,314
748
868
1,229
1,698
143
1,589
131
2,183
Adjusted EBITDA (trailing 12 months)
319
372
399
573
810
903
Debt to Adjusted EBITDA Ratio
2.3x
2.3x
3.1x
3.0x
2.0x
2.4x
(1) In accordance with purchase accounting guidance, the Partnership's Senior Notes were adjusted to fair value (“FV”)
upon the closing of Energy Transfer's acquisition of the Partnership's general partner in October 2012.
A-12
Revolver – Credit Facilities
($MM)
Lender
Citibank
Barclays Bank
Goldman Sachs Bank USA
TD Bank
Wells Fargo
Bank of America
JP Morgan Chase
Mizuho Corporate Bank (USA)
PNC Bank
Bank of Nova Scotia
Bank of Tokyo-Mitsubishi UFJ
Royal Bank of Scotland
UBS Loan Finance
Credit Suisse (Caymans)
Deutsche Bank (NY)
U.S. Bank
Total
$350MM
Facility
Allocation
30.0
30.0
25.0
24.0
24.0
21.5
21.5
21.5
21.5
21.5
21.5
21.5
21.5
15.0
15.0
15.0
350.0
$200MM
Facility
Allocation
18.0
18.0
0.0
15.0
15.0
13.0
13.0
13.0
13.0
13.0
13.0
13.0
13.0
10.0
10.0
10.0
200.0
$35MM
Facility
Allocation
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
35.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
35.0
Total
Allocation
48.0
48.0
25.0
39.0
39.0
34.5
34.5
34.5
69.5
34.5
34.5
34.5
34.5
25.0
25.0
25.0
585.0
Credit facilities include accordion features to expand borrowings to a total of $935MM ($250MM accordion on the
$350MM facility and $100MM accordion on the $200MM facility)
The $350MM and $200MM facilities have a maximum Debt/EBITDA of 5.0x (flexed to 5.5x during an acquisition period)
A-13
Crude Oil Pipeline System

34% of total EBITDA for the year ended December 31, 2012

Approximately 4,900 miles of crude oil trunk lines located in the Southwest and
Midwest U.S.
Approximately 500 miles of gathering lines

60.3% controlling interest in West Texas Gulf Pipeline, a 580-mile crude oil
pipeline

91.0% controlling interest in Mid-Valley Pipeline, a 990-mile crude oil pipeline
A-14
Crude Oil Acquisition and Marketing

29% of total EBITDA for the year ended December 31, 2012

Crude truck fleet of approximately 250 trucks

Purchase crude oil at the wellhead from producers and in bulk from aggregators
at major pipeline interconnections and trading locations

Wellhead volumes over 300,000 barrels per day from approximately 4,000
producers in nineteen states and the Gulf of Mexico, with the majority of
purchases being made in Oklahoma, Kansas, Texas, New Mexico, Michigan,
North Dakota, and Louisiana


Storing inventory during contango market conditions – maintain balanced book
to mitigate commodity risk
Transporting crude oil on our pipelines and trucks or when necessary or cost
effective, pipelines or trucks owned and operated by third parties
A-15
Terminal Facilities

28% of total EBITDA for the year ended December 31, 2012

Nederland, TX Crude Oil Terminal - One of the largest onshore crude facilities in U.S.
22 million barrel capacity currently

Eagle Point, NJ Crude Oil and Refined Products Terminal
5 million barrel capacity for crude oil and refined product storage
Pipeline and rail connections with import/export capabilities

Marcus Hook Industrial Complex
Pipeline, rail and trucking connections with import/export capabilities
Five underground NGL storage caverns

Refinery Terminal Facilities with combined 6 million barrel capacity
Serve Philadelphia area refineries

Over 40 active Refined Products Marketing Terminals located in 11 states with a
combined capacity of 8 million barrels

Inkster, MI LPG Terminal with a capacity of 1 million barrels

Total terminal capacity of approximately 46 million barrels

Patented technology to blend butane into gasoline
A-16
Refined Products Pipeline System




9% of total EBITDA for the year ended December 31, 2012
Refined products pipeline system (approximately 2,500 miles), located in the
Northeast, Midwest and Southwest U.S.
Equity interest in four product pipelines
Explorer (9.4%)
West Shore (17.1%)
Wolverine (31.5%)
Yellowstone (14.0%)
83.8% controlling interest in Inland Pipeline, a 350-mile refined products
pipeline system
A-17
Acquisition History ($1.4B Since IPO)
November 2002

Joint-venture interests in 3 refined product pipelines from Unocal, for $54MM
Wolverine (31.5%), West Shore (9.2%), and Yellowstone (14.0%)
November 2002

43.8% joint-venture interest from Sunoco/Unocal in West Texas Gulf crude pipeline for $11MM
September 2003

Additional joint-venture interest in West Shore for $4MM increasing ownership
interest from 9.2% to 12.3%
March 2004

Logistics assets of Eagle Point refinery from Sunoco, Inc. for $20MM
April 2004

Baltimore, MD and Manassas, VA refined product terminal facilities from ConocoPhillips for $12MM
June 2004

Additional 1/3rd joint-venture interest in Harbor Pipeline from El Paso for $7MM, increasing ownership
interest to 2/3rds
November 2004

Columbus, OH refined product terminal facilities from Certified Oil for $8MM
August 2005

Texas crude oil pipeline system from ExxonMobil for $100MM
December 2005

37% joint-venture interest in Mesa crude oil pipeline system from Sunoco/Chevron for $7MM
March 2006

Texas crude oil pipeline system from Black Hills for $41MM

Texas crude oil pipeline system from Alon for $68MM
August 2006

55.3% joint-venture interest in Mid-Valley crude oil pipeline from Sunoco, Inc. for $65MM
June 2007

50% joint-venture interest in a refined products terminal in Syracuse, NY from ExxonMobil for $13MM
A-18
Acquisition History ($1.4B Since IPO), Continued
November 2008

Texas refined products pipeline system and terminal facilities from ExxonMobil for $186MM
September 2009

Oklahoma crude oil pipeline from Excel Pipeline LLC and Romulus, MI refined products terminal facility
from R.K.A. Petroleum LLC for an aggregate $50MM
July 2010

Butane blending business from Texon L.P. for $152MM including inventory

Additional joint-venture interest in West Shore from BP for $7MM increasing ownership
interest from 12.3% to 17.1%

Additional joint-venture interest in Mid-Valley from BP for $58MM increasing ownership
interest from 55.3% to 91.0%
August 2010

Additional joint-venture interest in West Texas Gulf from BP for $27MM increasing ownership
interest from 43.8% to 60.3%
May 2011

83.8% controlling joint-venture interest in Inland refined products pipeline for $99MM
July 2011
Eagle
August 2011

Crude Oil Acquisition and Marketing business from Texon L.P. for $222MM including inventory

East Boston, MA refined products terminal and pipeline from ConocoPhillips for $73MM including
Point Tank Farm from Sunoco, Inc. for $100MM in deferred distribution units
inventory
April 2013

Marcus Hook Industrial Complex from Sunoco, Inc. for $60MM
A-19

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