Presentation to Department of Finance

Goldman Sachs Energy Credit Virtual Field Trip March 2021 Disclosures & Company Information

Genesis Energy, L.P. NYSE: GEL Investor Relations Contact

Common Unit Market Value ~$1.2 billion(a) [email protected] (713) 860-2500 Convertible Preferred Equity ~$0.9 billion(a) Corporate Headquarters Enterprise Value ~$5.4 billion(a) 919 Milam Street, Suite 2100 Annualized Common Unit Distribution $0.60 per unit Houston, TX 77002

Forward-Looking Statements

This presentation includes forward-looking statements within the meaning of Section 21A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934 as amended. Except for the historical information contained herein, the matters discussed in this presentation include forward-looking statements. These forward-looking statements are based on the Partnership’s current assumptions, expectations and projections about future events, and historical performance is not necessarily indicative of future performance. Although Genesis believes that the assumptions underlying these statements are reasonable, investors are cautioned that such forward-looking statements are inherently uncertain and necessarily involve risks that may affect Genesis’ business prospects and performance, causing actual results to differ materially from those discussed during this presentation. Genesis’ actual current and future results may be impacted by factors beyond its control. Important risk factors that could cause actual results to differ materially from Genesis’ expectations are discussed in Genesis’ most recently filed reports with the Securities and Exchange Commission. Genesis undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information or future events.

This presentation may include non-GAAP financial measures. Please refer to the presentations of the most directly comparable GAAP financial measures and the reconciliations of non-GAAP financial measures to GAAP financial measures included in the end of this presentation.

(a) As of March 15, 2021. 1 Genesis Energy Investment Overview

• Genesis Energy, L.P. operates a diversified collection of high-quality infrastructure assets and world-class businesses with significant upside and operating leverage with little to no growth capital required

– Timing confirmed by producers for first production from Argos in 1Q 2022 and Kings Quay in 2Q 2022

– Soda ash market continues to improve and expect to be sold out in 2021 with market getting tighter in back half of 2021 into 2022

– Existing asset footprint growth driven primarily by future contracted offshore volumes and a recovery of soda ash volumes and long-term prices

• Believe we have clear line of site to $700 to $800 million of Adjusted Consolidated EBITDA(a) in the coming years

– Businesses, specifically soda ash, well positioned to participate in the energy transition and lower carbon world

• Well positioned to navigate current operating environment in the energy markets and global economy

– Successfully re-financed 2023 unsecured notes in December 2020; No unsecured maturities until 2024

– Minimal growth capital expenditures currently expected in 2021 and beyond

• Management is focused on and incentivized by generating free cash flow

– Expect to be a net payer of debt in 2021 and beyond

– Excess free cash flow used to accelerate de-leveraging plan towards 4.00x target

• Management has taken several pro-active steps to better position the partnership for long term success

– Common unit distribution reduction announced in March 2020 will save approximately $200 million per year of cash flow

– Implemented cost savings initiatives that are expected to generate approximately $38 million in annual savings starting in 3Q 2020

– Monetized non-core legacy CO2 business for approximately $134 million in cash; scheduled to receive remaining $70 million in cash, to be paid over four equal quarterly installments of $17.5 million, starting in the first quarter of 2021

• Management and insiders aligned with common unit holders with ~13% ownership of outstanding common units(b)

– Non-economic General Partner with no IDRs

(a) We are unable to provide a reconciliation of the forward-looking Adjusted EBITDA, a non-GAAP financial measure, to the most directly comparable GAAP financial measure without unreasonable efforts. The probable significance is that such comparable GAAP financial measure may be materially different. 2 (b) As of December 31, 2020. Key Investment Considerations

Market Leading Businesses with High Barriers to Entry 1 • Genesis is a market leader in four critical businesses – (1) Deepwater Gulf of Mexico ("GOM") pipeline transportation, (2) Producer & marketer of U.S. natural soda ash, (3) Refinery-centric onshore terminals and pipelines and (4) Producer and marketer of sodium hydrosulfide (“NaHS”) • High barriers to entry including significant fixed entry cost, existing integrated asset footprint and long-term dedicated contracts Diversified Businesses with Long-Life Infrastructure Assets 2 • Long-life diverse set of infrastructure assets that have been in continuous operations for decades • Long-term customer relationships fostered over decades of service • Large diversified customer base which includes refineries, large integrated customers and other investment grade counterparties • Businesses, specifically soda ash, well positioned to participate in the energy transition and lower carbon world Significant Operating Leverage with Minimal Capital Required 3 • Existing asset footprint has significant upside with expected volume growth in 2021 and beyond with little to zero growth capital required • Outside of our Granger expansion project, which is committed to be fully funded by GSO asset-level preferred, we do not currently anticipate any significant growth projects in 2021 Improving Financial Fundamentals & Guidance 4 • Strong distribution coverage ratio(a) with excess cash flow used to repay credit facility, opportunistically repurchase unsecured notes or fund organic growth opportunities • Expected EBITDA growth, along with repayments of debt, leads to natural deleveraging • Committed to long-term leverage ratio of 4.00x(b) Unitholder Alignment with Focus on Long-Term Value Creation 5 • No incentive distribution rights • Management and insiders own ~13% of outstanding common units(c) • Track record of acquiring and developing world class assets at attractive valuations • Culture committed to health, safety and environmental stewardship (a) As historically calculated and presented. (b) As calculated under our senior secured credit facility. (c) As of December 31, 2020. 3 Market Leading Businesses / High Barriers to Entry

Genesis Total LTM (a) Offshore Pipeline Transportation Segment Margin $607 MM • Practically irreplaceable integrated asset footprint focused on transporting crude oil produced from the deepwater Central Gulf of Mexico to multiple onshore 21% markets

• Contracts structured as life of lease dedications to individual platforms & pipelines 44% $270 MM 24% • Uniquely positioned with available capacity to capture volumes from incremental deepwater production 10%

Sodium Minerals & Sulfur Services • Global low-cost producer of natural soda ash 21% • World class facilities and reserves located in world’s largest economic natural trona deposit 44% $130 MM • Leading refinery sulfur removal business with consistent cash flow profile 24% • Integrated logistical footprint and customer relationships across soda ash, caustic soda and NaHS markets 10%

Onshore Facilities & Transportation • Integrated suite of refinery-centric onshore crude oil and refined products 21% pipelines, terminals and related infrastructure • Leading 3rd party facilitator of feedstocks to ExxonMobil’s (“XOM”) Baton Rouge 44% $147 MM refinery 24% • Certain onshore pipeline and terminal assets integrated with Genesis' Gulf of Mexico crude pipeline infrastructure 10%

Marine Transportation • Young, modern fleet of inland boats and heated barges, all asphalt capable, with 21% almost exclusive focus on intermediate refined products ("black oil") • 330 kbbl ocean going tanker American Phoenix built in 2012 and under term 44% $60 MM contract with investment grade refining company from 2Q 2021 to 1Q 2022 24% • Nine ocean going barges / ATBs ranging in size from 65 - 135 kbbls each 10%

Note: Pictures from top to bottom: Ship Shoal 332B Platform, soda ash operations, Port of Baton Rouge terminal tank farm, inland push boat. (a) Last twelve months total Segment Margin and per segments as of December 31, 2020. Onshore Facilities and Transportation Segment Margin includes payments from monetization of legacy non-core CO2 pipeline 4 business. Diversified & Long-Life Infrastructure Assets

Key Business Fundamentals Long-Life Infrastructure Assets Offshore Pipeline Transportation • Deepwater crude oil production growth • ~2,400 miles of pipelines and platforms focused on deepwater Gulf of Mexico • Continued new developments and competitive • Major crude systems have been in operation for subsea tieback economics decades across a range of crude oil prices from $10 to $140 per barrel • No direct exposure to crude oil or natural gas prices ‒ Poseidon 1996 and CHOPS 2005 • Properly maintained with useful lives of 50+ years

Sodium Minerals & Sulfur Services • Stable domestic demand for soda ash complimented • Soda ash facilities and mines have been in by exports to emerging markets continuous operations since 1953 and have a (a) ‒ Soda Ash demand: glass manufacturing remaining reserve life of 100+ years (containers, windshields, and windows), • Sulfur services operates critical infrastructure inside chemicals, detergents and lithium batteries the fence at 10 refinery locations and has 30+ years • NaHS demand: Copper mining and pulp & paper of operating history industries • Long-term customer relationships developed from a track record of quality and reliability

Onshore Facilities & Transportation • Demand pull from refineries • Pipeline and terminal assets in Baton Rouge, LA integrated with ExxonMobil's refinery • Certain assets underpinned by take-or-pay contracts • Pipeline and terminal assets at Texas City, TX and with ExxonMobil Raceland, LA integrated with Genesis' offshore footprint helping transport medium sour Gulf of • Expected volume growth from offshore volumes Mexico production further downstream to Gulf Coast delivered to integrated onshore assets refineries • Legacy assets underpinned by demand pull from refineries Marine Transportation • Demand for movements of heavy intermediate • Young, efficient fleet with useful life of 30+ years refined products • International Maritime Organization (“IMO”) 2020 • Refinery utilization and limited refinery storage sulfur spec driving demand for hot oil capable fleet leading to absolute need for constant movement / offtake of intermediate products • Increasing spread between WTI & Brent crude oil driving demand for Jones Act equipment

Note: Pictures from top to bottom: South Marsh Island 205 platform, soda ash operations, Raceland terminal tank farm, inland push boat. 5 (a) Based on current production rate in current seam. Operating Leverage with Minimal Capital Required

Growth Drivers Operating Leverage Offshore Pipeline Transportation • Anticipated increase in Gulf of Mexico crude oil volumes • Existing connectivity and excess capacity to driving both near-term and long-term margin contribution capture incremental volumes

• BP’s Argos platform & Mad Dog 2 development on • Largely fixed operating costs with minimal to schedule for early to mid-2022 zero increase in variable cost for any incremental volumes • Murphy’s King’s Quay FPS on schedule for early to mid- 2022

Sodium Minerals & Sulfur Services • Demand driven by global emerging middle class and • Largely fixed operating costs with minimal to increasing per capita consumption of soda ash in Asia (ex. zero increase in variable cost for any China) & Latin America incremental volumes

• As world economies re-open we expect to see demand for • Historically have sold every ton of soda ash soda ash return to recent historical levels we can safely produce

• Increased soda ash demand from various green initiatives such as the production of lithium ion / phosphate batteries

Onshore Facilities & Transportation • Demand pull from connected refineries • Excess capacity and connectivity to capture incremental volumes • Pipeline capacity constraints out of Canada driving crude by rail volumes • Largely fixed operating costs with minimal to zero increase in variable cost for any • Increasing volumes out of Gulf of Mexico delivered to incremental volumes integrated onshore asset footprint

Marine Transportation • Improved market conditions and refinery utilization could • Largely fixed operating costs creates ability to lead to increased marine day rates and utilization benefit from any market upturn in day rates and utilization

• Minimal to zero increase in variable cost or incremental capital for any increased utilization

Note: Pictures from top to bottom: Garden Banks 72 platform, soda ash operations, Texas City terminal tank farm, bluewater boat and barge. 6 Improving Financial Fundamentals & Guidance

Current Business Segment Outlook Offshore Pipeline Sodium Minerals & Onshore Facilities & Marine Transportation Sulfur Services Transportation Transportation • BP’s Argos / Mad Dog 2 development • Expect to be sold out from our • Challenged in 2020 from lower • Marine continues to be negatively and Murphy’s King’s Quay FPS Westvaco facility throughout 2021 upstream activity around our legacy impacted by lower refinery utilization remain on-schedule ‒ Higher sales volumes provides systems, unfavorable crude-by-rail in the Midwest and Gulf Coast (PAAD ‒ Recently confirmed by both more efficient operations and economics and lower refinery II and PAAD III) utilization operators during their respective higher fixed cost absorption ‒ Impacting both rates and utilization 4Q earnings conference calls ‒ Believe all natural producers • Seeing steady crude-by-rail volumes within our brown water fleet at our Scenic Station as differential ‒ When fully ramped, will generate in globally are in a similar situation • Tight supply / demand dynamic that excess of $25 million a quarter in between WCS and the Gulf Coast • Expect both domestic and export supports rail movements drove results in first half of year could incremental segment margin prices to be marginally lower in 2021 return as refineries return to more ‒ If current market conditions persist • Expect first oil from LLOG’s Spruance ‒ Incremental demand supplied by normalized run rates in the second discovery in early 2022 we could see incremental margin half of 2021 high-cost synthetic production contribution from these activities in ‒ 100% dedicated to Poseidon for ‒ Could see prices increase, late 2021 and potentially into 2022. ‒ Pace of recovery could potentially the life of lease with certain take- be aided by equipment retirements perhaps meaningfully, as we • Scheduled to receive four equal or-pay features in 2020 and limited new-builds move through 2021 quarterly installments of $17.5 million • Remain in active discussions with ‒ Increased soda ash demand from from Denbury, starting in the first • Successfully re-contracted the three separate new stand-alone various renewable energy quarter of 2021 for the remaining American Phoenix with an investment deepwater production hubs, in various themes, including the production amounts owed under the NEJD grade refining company starting in 2Q stages of sanctioning of lithium ion / phosphate batteries financing lease 2021 through 1Q 2022 ‒ First oil would be in the late 2024- • Demand for NaHS from pulp and ‒ Will recognize as Adjusted 2025 time frame with >220,000 paper & copper mining customers Consolidated EBITDA for bank bbls/d of potential new production returning to pre-pandemic levels covenant compliance purposes

Current Financial Guidance

Key Metrics Guidance Notes

Long-Term Target Leverage Ratio(a) 4.00x

Common Unit Distribution $0.15 per quarter To remain flat for foreseeable future; intend to use capital for highest and best use for all stakeholders

Range primarily driven by scale and pace of recovery in soda ash pricing in SE Asian markets, volumes in our 2021E Adjusted Consolidated EBITDA(b) $630 - $660 million offshore segment and scale and pace of recovery in our marine segment.

Approximately; capital predominantly allocated to the offshore segment for additional upgrades to our existing 2021E Expected Growth Capital $40 million system for anticipated future volumes; excludes Granger expansion which is funded with asset level preferred

(a) As calculated under our senior secured credit facility. (b) We are unable to provide a reconciliation of the forward-looking Adjusted EBITDA, a non-GAAP financial measure, to the most directly comparable GAAP financial measure without unreasonable efforts. 7 The probable significance is that such comparable GAAP financial measure may be materially different. 2021 Estimated Cash Obligations

• Reduction in common unit distribution will save 2021 Estimated Cash Obligations approximately $200 million per year Recurring Cash Obligations • Recurring cash obligations for 2021 totaling ~$410 million Cash Taxes $600

– Recurring cash obligations include: Senior Secured Interest Expense(a) 30,000

• Cash Taxes Senior Unsecured Interest Expense(a)(b) 167,500

• Senior Secured / Unsecured Interest Expense Maintenance Capital Expenditures 65,000

• Maintenance Capital Expenditures Preferred Distributions 74,734

• Preferred Distributions Common Distributions 73,524 • Common Distributions Total Recurring Cash Obligations $411,358 • Currently budgeted ~$40 million of growth capital

– Includes ~$30 million for offshore expansions Estimated Growth Capital Expenditures(c) $40,000 – Excludes Granger expansion, which dollars are paid via the asset level redeemable preferred structure Non-Recurring Maintenance Capital Expenditures 10,000

• No cash payments from Genesis during the 48 Asset Retirement Obligations 13,000 month PIK period Estimated Financing Fees 9,000 • 2021 estimated asset retirement obligations (“ARO”) of ~$13 million Working Capital(d) 20,000

Total Estimated Cash Obligations $503,358

Note: $000s, unless otherwise noted. (a) Reported senior secured / unsecured interest expense excludes non-cash amortization of fees. (b) Only 1 interest payment in 2021 for new notes due 2027; full year would result in additional $27.5 million interest expense. (c) Excludes capital associated with Granger expansion. (d) Includes cash payments due for LTIPs, payment of employer portion of social security taxes under CARES act and other material costs accrued in 2020 for which cash payments will be made in 2021. 8 Unitholder Alignment / Long-Term Value Creation

Unitholder Alignment Long-Term Value Creation • NO incentive distribution rights (“IDRs”) with non-economic • Management has a track record of acquiring and developing General Partner (no sponsor) world class infrastructure assets at attractive valuations

– One of the first MLPs to eliminate IDRs in 2010 • Use capital for the highest and best use for all stakeholders

• Management and insiders are fully aligned with public • Common unit distribution of $0.15 per quarter or $0.60 per year common unitholders • Culture committed to health, safety and environmental – Own approximately 13% of the outstanding common units(a) stewardship

• Long-term incentive compensation for management and • Supporting business priorities and our investors through ESG employees tied to:

– Increasing available cash flow per unit

– Achieving long-term leverage targets

– Achieving company safety performance goals

(a) As of December 31, 2020.

9 Actively Participating in Green Initiatives

Helping Facilitate the Energy Transition & Lower Emission Activities

Sodium Minerals & Sulfur Services • Our soda ash business should increasingly participate in multiple renewable energy themes moving forward

– Demand for soda ash driven by production of new LEED certified glass windows, solar panels and the production of lithium carbonate and lithium hydroxide, some of the building blocks of lithium ion/phosphate batteries used in electric vehicles and long-term battery storage • Glass manufacturers use soda ash to lower the melting point of other raw materials, mainly sand, which in turn reduces their energy consumption and lowers the greenhouse gas emissions

– U.S. natural soda ash has a GHG footprint ~37% less than Chinese synthetic soda ash when leaving their respective manufacturing sites and ~22% a delivered basis to customers southeast Asia after factoring in emissions incurred in rail and shipping transportation(a) • Synthetic soda ash creates by-products such as calcium chloride and ammonia chloride which need further handling and ultimately increase synthetic soda ash’s carbon footprint • Our refinery service business helps our host refineries lower their emissions by processing their sour gas stream using our proprietary, closed-loop, non-combustion technology to remove sulfur from their H2S stream

– More favorably than alternative of a traditional sulfur recovery unit utilizing the Claus process, which combusts hydrogen sulfide gas and releases certain levels of harmful gases and incremental carbon dioxide emissions into the atmosphere • Soda ash and sodium hydrosulfide (NaHS) also sold in to certain downstream applications that help reduce customer’s carbon footprints Offshore Pipeline Transportation • The Gulf of Mexico is one of the most highly regulated upstream basins in North America from an environmental point of view

– All activities overseen by BSSE or the Bureau of Safety and Environmental Enforcement

– No hydraulic fracking and very stringent anti-flaring rules • Oil produced in the Gulf of Mexico has some of the lowest carbon intensity on a per barrel basis for extraction of any hydrocarbon production in the world(b) • Barrels produced from the Gulf of Mexico are less emissions intensive than any other barrel refined by Gulf Coast refineries(b)

– Includes emissions incurred in shipping various imports to the United States

(a) According to the Industrial Minerals Association. 10 (b) According to Wood Mackenzie report “Carbon emissions performance in US GoM: a low emitter in the Crossfire” dated February 2021. Business Segment Detail Offshore Pipeline Transportation Overview

Acquired World Class Footprint in Leading North American Basin Long-Term Value Creation Stability and Future Growth

• Beginning in 2010 with the acquisition of CHOPS, 1,000 Historical CHOPS & Poseidon gross daily volumes $120 Hurricane bridge volumes(b) management has acquired an irreplaceable industry leading 900 Disclosed potential growth volumes(c) portfolio of midstream infrastructure in the central deepwater (d) $100 800 Avg. Crude Price (WTI) Gulf of Mexico at attractive valuations 700 $80 – Total capital spent to obtain footprint: ~$2.2 billion(a)

600 +50% 200+ $ $ / bbl • Integrated footprint has performed throughout multiple crude 500 $60

Kbd 30 38 oil cycles and is well positioned to capture incremental 400 volumes with little to no capital to Genesis $40 300 467 467 499 425 – Offshore Pipeline Transportation Segment Margin 200 393 432 437 308 351 $20 • Normalized quarterly earnings capability: ~$85 million 100

0 $0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021E 2022E Timeline of Key Events

Oct. 2010 - $330 mm July 2014 - $197 mm 2021 Early / Mid 2022 Genesis Acquires Genesis and Enterprise complete June 2019 Normalized operating environment; Expect an additional 140 kbd 50% interest in construction of 50% / 50% owned LLOG operated Buckskin Additional wells at Lucius, full year of oil from Argos / Mad Dog 2 CHOPS from Valero SEKCO Pipeline development on-line of Katmai and Atlantis Phase 3 (100% dedicated to CHOPS)

2010 2011 2014 2015 2019 2020 2021 2022

Oct. 2011 - $205.8 mm July 2015 - $1.5 billion 2020 Early / Mid-2022 Genesis Acquires Marathon's Genesis Acquires Enterprise's Atlantis Phase 3 & Expect an additional 80 kbd of oil & 100 mmcfd of Gulf of Mexico assets, including: Gulf of Mexico assets, including: 1 well at Katmai on-line natural gas from Murphy’s King’s Quay FPS 28% in Poseidon 50% in CHOPS (Both oil & natural gas 100% dedicated to GEL assets) 23% in Eugene Island 36% in Poseidon 29% in Odyssey 50% in SEKCO 1H 2022 Expect additional production from Spruance (a) Approximate total gross capital spent including both growth and maintenance capital expenditures, net of any divestitures. (100% dedicated to Poseidon) (b) Additional 38k/d based on 28 days at an average of 490k/d to reflect hurricane downtime in 2020. (c) Timing of contracted growth volumes subject to change. 12 (d) Per Energy Information Agency, WTI daily spot prices through December 31, 2020. Offshore Pipeline Transportation - Hurricane Impact

2020 Performance Impacted by Unprecedented Hurricane Season • Over the last 10 years, Genesis has experienced Historical Named Storm Days(a)(b) various levels of impact from named storms 30 Over the last decade 28 (excluding 2020), Genesis – Genesis incurred a total of ~41 days of named 25 has never experienced storm related downtime from 2011-2019(a) more than 13 named storm 20 days in a single year • Genesis generally expects one named storm or

~5 days of named storm downtime in a normal 15 13 year 10 10 8 – In 2020, Genesis experienced ~28 days of named 6 (a)(b) storm related downtime 5 4

- - - - • Under normalized operating conditions, currently - expect Offshore segment margin to average $80 to 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 $85 million per quarter or approximately $900k per Historical Named Storms(c) day 6

Over the last decade 5 • Named storm related downtime has negatively 5 (excluding 2020), Genesis impacted segment margin by approximately $40 has never experienced million in 2020 4 more than 2 named storms in a single year

– Includes approximately $7 million of one-time 3 incremental costs associated with damage to GB72 2 2 2 – Includes approximately $5 million of deferred 1 1 1 revenue from CHOPS volumes flowing on Poseidon 1 which will be recognized in 2021 - - - - - 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

(a) Days CHOPS or Poseidon were materially disrupted by named storms. Does not include CHOPS out of service days following damage to GB72 platform. (b) 2020 named storm days as of December 1, 2020. 13 (c) 2020 named storms include Tropical Storm Cristobal, Hurricane Marco, Hurricane Laura, Hurricane Delta and Hurricane Zeta. Offshore Pipeline Transportation Asset Summary

Leading Gulf of Mexico Midstream Service Provider

• ~2,400 miles of pipelines and associated platforms primarily Deepwater to Shore Crude Oil Pipeline Solutions located in the Central Gulf of Mexico CHOPS Poseidon Eugene Island Odyssey • Leading independent midstream service provider uniquely positioned to provide deepwater producers maximum Capacity ~500 kbd(a) ~350 kbd ~173 kbd(b) ~200 kbd optionality with access to both Texas and Louisiana markets – No priority / dependency on affiliated equity production 4Q 2020 • Focused on providing producers a “highway to shore” via our Avg. Daily 0 kbd(c) ~355 kbd NA(d) ~125kbd Cameron Highway Oil Pipeline System (“CHOPS”) and Volume Poseidon Oil Pipeline ("Poseidon") Delivery Texas Louisiana Louisiana Louisiana – Laterals and other associated infrastructure serve as feeders to CHOPS and Poseidon Mileage 380 358 184 120 • Provide transportation to shore for several of the most prolific fields in the Gulf of Mexico Ownership 100% 64% 29% 29% Integrated Infrastructure

Oil Laterals Natural Gas Platforms

Provide field-level Primarily services Multi-purpose transportation to associated gas production Overview CHOPS / production from oil handling and Poseidon laterals service facilities

Includes Allegheny, Includes Includes Selected Constitution, Anaconda, Manta Deepwater Assets Marco Polo, Ray, Nautilus and Gateway (Marco SEKCO, Shenzi others Polo) and others and others

Genesis owned Genesis owned Delivery Various infrastructure infrastructure

(a) Includes capacity from pumps that could be installed at Garden Banks 72. (b) Represents gross system capacity. System operates as an undivided joint interest. Genesis net capacity of ~39 kbd including associated laterals. (c) Reflects downtime associated with GB 72 platform as a result of hurricane Laura. 14 (d) System operates as an undivided joint interest and total volume is not available. Genesis net volumes of ~5.5 kbd. Gulf of Mexico Crude Oil Production

Continued Growth in the Deepwater Gulf of Mexico Crude Oil Production(a) • Deepwater Gulf of Mexico crude oil production increased by ~59% from 2013 - 2018 Non-Deewater Deepwater (>1,000 ft.) Avg. Crude Price (WTI) • Production increase has been primarily driven by producers’ ability 2,500 $120 to leverage existing infrastructure, improved drilling efficiency and $100 lower service costs 2,000 1,900 1,759 1,681 – New discoveries within ~30 miles of existing platforms are often “tied 1,605 1,650 1,660 1,670 1,515 $80 back” given existing pipeline connectivity to shore 1,399 1,500 $ / bbl 1,258

– Projects such as LLOG’s Buckskin (2019) and BP’s Argos (formerly $60 kbd Mad Dog 2) (early 2022) have each experienced ~60% reduction in 1,000 overall project costs from their original development plans $40 • 34 new fields have started producing since 2015 500 – 24 of these fields are tiebacks to existing production facilities $20 • New developments and subsea tiebacks continue to drive - $- increasing deepwater production 2013 2014 2015 2016 2017 2018 2019 2020E 2021E 2022E

Select Producer Commentary(b) Select Platform & Field Development History(c) GEL Lateral GEL Lateral GEL Lateral GEL Lateral “Overall across the Gulf, we see six to seven projects that quite frankly we to CHOPS / to CHOPS / to CHOPS / to CHOPS / didn't see just 18 months ago….And I think I would say from a development Poseidon Odyssey Poseidon Poseidon Poseidon cost per barrel perspective, we're continuing to drive it down. In our overall portfolio, our cost per barrel are down by 20% over the last couple of years”

“This decision (Anchor) reinforces Chevron’s commitment to the deepwater Constitution Delta House Lucius Marco Polo Shenzi asset class. We expect to continue creating value for shareholders by (70 kbd) (100 kbd) (80 kbd) (120 kbd) (100 kbd) delivering stand-along development projects and sub-sea tie backs at a competitive cost"

“We continue to build on the many accomplishments that we have achieved at LLOG in the deepwater Gulf of Mexico. We had a number of significant Field, First Oil Field, First Oil Field, First Oil Field, First Oil Field, First Oil achievements in 2018, including bringing on eight new wells, continued Constitution, 2007 Son of Bluto, 2015 Lucius, 2014 Marco Polo, 2004 Shenzi, 2009 exploration successes and being named operator in new projects." Ticonderoga, 2007 Marmalard, 2015 Hadrian North, 2019 K2, 2005 Caesar/Tonga, 2013 Otis, 2016 Buckskin, 2019 “The teams are now working to commission and safely bring Appomattox 5 additional prospects located on-stream later this year. And since we made the investment decision in Constellation, 2019 Blue Wing Olive, 2 additional within 30 miles Appomattox, we have reduced costs of that project with 40% further 1 additional 2018 prospects located improving the competitiveness of that project…" prospect located La Femme, 2018 within 30 miles within 30 miles Producing Red Zinger, 2018 Prospects (a) Source: BSSE and EIA’s February 9, 2021 short term energy outlook forecast; 2020E production factors in hurricane days. Crude prices through 12/31/20. Nearly Headless (b) Conference call quotes per Seeking Alpha. CVX comments per December 12, 2019 press release. Nick, 2019 15 (c) Platform capacity numbers are design capacity. Actual volumes, in some cases, have been higher. Key Gulf of Mexico Platform and Field Production Low Decline Rates & Inventory of Permits to Sustain Current and Future Production • Since 2016, production dedicated to Genesis has remained flat Key Hub Production and Completed Wells(a)(b) and is well permitted to sustain production levels(a) – 36 wells have been completed at these fields, an average of ~7 500 12 wells per year(b) 450 11 10 – 14 total outstanding permits for these fields (equivalent to ~2 400 (c) 9 years of inventory based on 2016-2020 average wells per year) 350 8 • Future projects Argos and King’s Quay are well positioned to 300 7 Wells achieve planned production 250 6 – Argos development plan has been approved; 7 development KBD 5 (c)(d) 200 wells to be drilled with 13 permits currently outstanding 4 150 – All King’s Quay permits have been submitted and expect approval 3 (e) 100 in near future 2 • Comes with take-or-pay agreements covering a significant 50 1 portion of expected production - - 2016 2017 2018 2019 2020 • Currently 7 outstanding permits(c) & 6 wells previously drilled Production Completed Wells Key Hub Completed Wells and Historical Production

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Total Wells Completed (b) Atlantis - 5 2 1 2 1 - 1 3 2 3 4 2 1 - 1 28 Mad Dog 2 2 1 2 ------1 - 1 - 1 6 16 Holstein 1 1 1 2 1 - - - - 1 - - - 2 2 1 12 Shenzi - - - 6 4 - 3 2 4 1 2 1 - - - - 23 Marco Polo 1 5 1 1 2 - - - 2 - 1 1 - 1 1 - 16 Constitution (f) 1 1 2 - - - 3 - 2 2 2 2 1 1 - - 17 Total Legacy Hubs 5 14 7 12 9 1 6 3 11 6 9 8 4 5 4 8 112 Lucius (h) ------1 - 1 3 1 1 1 5 - - 13 Total Key Hubs 5 14 7 12 9 1 7 3 12 9 10 9 5 10 4 8 125 7.20 Annual Production (KBD) (g) Total Legacy Hubs 68 104 127 194 291 292 239 251 266 298 285 306 298 297 308 295 Lucius (h) ------0 61 74 57 30 55 62 Total Key Hubs 68 104 127 194 291 292 239 251 266 298 346 379 355 326 363 357

(a) Production data per BSEE through June 2020. Include Atlantis, Mad Dog, Holstein, Shenzi, Marco Polo, Constitution, Caesar Tonga, Constellation, Lucius and Buckskin. (b) Includes wells with “Borehole Completed” status per BSEE. (c) Outstanding permits includes New Well, Sidetrack, and Bypass permits that were approved subsequent to January 1, 2017 and current status is not completed, cancelled or permanently abandoned per BSEE. (d) Per Argos development plan submitted to BSEE April 11, 2019 and approved July 19, 2019. (e) Per Murphy. (f) Includes Caesar Tonga and Constellation. (g) Production data per BSEE through June 2020. 16 (h) Includes Buckskin. Central Gulf of Mexico Overview

Robust Inventory of Future Growth

Ram Powell

Petronius Stonefly Horn Mountain Delta House Nearly Headless Nick

Lobster Spruance Selected Recent Developments / Key FID Katmai Bullwinkle • Caicos Field Producer First Oil Droshky • Khaleesi / Mormont Baldpate Allegheny • Samurai Argos / Mad Dog 2 BP Early 2022 • Warrior Cardamom Front Runner • Wildling Spruance LLOG Early 2022 Constellation Shenzi King’s Quay Murphy Early to Mid-2022 Constitution Atlantis / Atlantis Phase 3 North Ticonderoga Platte Connected to Genesis Footprint Mad Dog / Mad Dog 2 Guadalupe Heidelberg Shenandoah Coronado Big Foot Gila Tiber Yucatan Kaskida • Caesar / Tonga • Calpurnia • Genghis Khan • Holstein Julia Leon • K2 Moccasin • Marco Polo St. Malo • Tahiti Jack Buckskin Lucius Hadrian North Phobos

Note: Map not intended to be an exhaustive list of prospects. 17 Gulf of Mexico - Active Federal Leases

Proximity to Existing Leases Creates Stability and Opportunity

• Robust number of active Federal leases in the Gulf of Mexico – In 2020, volumes were produced from only ~20% of the active Federal leases in the Central Deepwater Gulf of Mexico(a) – Remaining ~80% of active Federal leases in the Central Deepwater Gulf of Mexico represent additional exploration and development opportunities(a)

Spruance

Katmai

Khaleesi / Mormont / Samurai Warrior Wildling / Caicos Caesar Tonga Constellation K2 Shenzi Constitution Holstein Atlantis Heidelberg Atlantis Phase 3 Mad Dog / Shenandoah Winterfell North Platte Mad Dog 2 Guadalupe Coronado Tiber Yucatan Kaskida Leon Moccasin Producing Lucius/Hadrian Buckskin Prospects

(a) Per BOEM, BSSE and company data as of January 2021. Includes Garden Banks, Keathley Canyon, Green Canyon and Walker Ridge. 18 Central Gulf of Mexico Midstream Dynamics

Uniquely Positioned with Available Capacity to Capture Additional Volumes

• Uniquely positioned with maximum optionality and available capacity to CHOPS / Poseidon Available Capacity to Shore(a)(b) provide a “highway to shore” for deepwater producers 1,000 850 850 850 850 850 850 – CHOPS / Poseidon have ample capacity to service the continued growth in Central Gulf production with a shore based solution 750

– Integrated system allows producer to choose transportation to either 500

Texas or Louisiana via CHOPS / Poseidon to take advantage of kbd 292 279 premium pricing 249 253 250 274 – CHOPS is only system in the Central Gulf of Mexico with delivery 355 232 235 242 197 onshore to Texas 99 - - • Laterals and existing infrastructure well positioned to capture future 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 volumes CHOPS Poseidon Available Capacity Central Gulf of Mexico Deepwater to Shore Crude Oil Pipeline Solutions

Delivery TX City, TX / Houma, LA / Gibson, LA Fourchon, LA Locations Port Arthur, TX Raceland, LA

Paths to Shore

CHOPS 30” 20” Auger

EIPS 20” EIPS

CHOPS 30” CHOPS

Amberjack 24” Amberjack Poseidon 24” Poseidon CHOPS/ CHOPS/ Strategic Poseidon Poseidon Poseidon Junction Platform GC 19 Platform Platform Platforms Poseidon 16” SMI 205 Poseidon 20” GB 72 SS 332 A&B

Integrated Infrastructure

/ Laterals SEKCO

Shenzi

Caesar

Amberjack

Allegheny

Marco Polo Marco Constitution

Deepwater Alaminos Canyon / Garden Banks / Green Canyon / Walker Ridge Volumes Production Keathley Canyon Volumes

(a) Includes capacity from pumps that could be installed offshore at various locations. Genesis owned & operated infrastructure 3rd Party owned & operated infrastructure Directly connected to GEL Texas City, TX and GEL Raceland, LA terminals 19 (b) 3Q & 4Q 2020 volumes reflect impact of hurricane days and CHOPS downtime. Case Study: Poseidon Oil Pipeline

Irreplaceable Crude Oil Pipeline in the Central Gulf of Mexico

• Poseidon Oil Pipeline is a high barrier to entry pipeline transporting Steady Volumes Through Commodity Cycles central Gulf of Mexico production to key markets in Louisiana 350 $120 – Integrated onshore with Genesis’ Raceland, LA Terminal for delivery +37% to refining markets downstream 300 $100 250 • 367-mile system with capacity of ~350,000 barrels per day $80

200 $ / bbl

• Pipeline has been in continuous operation for over 23 years with $60 Kbd 150 291 first oil in 1996 and a total gross cost to construct and maintain of 260 263 265 254 235 $40 $434.3 million as of 12/31/20 100 211 207 210

$20 – Distributed an average of $26.0 million to its owners per quarter 50 in 2020 or $103.9 for the full year

0 $0

2012 2014 2015 2016 2017 2018 2019 2020 • Since 2012, volumes have increased ~37% while crude oil prices 2013 have declined ~58% Historical Poseidon Gross Daily Volumes Avg. Crude Price (WTI) • Near term growth includes the 100% dedicated Buckskin prospect which began producing in June 2019(a) World Class Customers Base – Once fully established, phase 1 production rate at Buckskin anticipated to reach 30,000 barrels per day(a)

– Zero incremental capital cost to Poseidon and ~100% EBITDA margin on all Buckskin production

– In addition, Buckskin is dedicated to the SEKCO lateral (100% Genesis owned)

• Additional volumes on the horizon from new developments such as LLOG’s Spruance discovery and Murphy’s King’s Quay project

• Substantially all contracts include “life of lease” dedications for any field production for firm transportation to shore on Poseidon

– Some contracts also include take-or-pay commitments

(a) Per “The Buckskin Development” Oil & Gas Journal article dated June 2019. 20 Buckskin Development Overview

Meaningful EBITDA Contribution with No Capital Requirements

• Achieved first oil in June 2019; developing field with two phase I wells with target production rate of 30kbd(a) • 100% of production for the life of the Buckskin field is 100% dedicated to flow on Genesis’ SEKCO and Poseidon pipelines • Estimated 5 billion barrels of oil in place covering six lease blocks (~50 square miles)(a) • Assuming a 6% recovery factor(a), the Buckskin field represents a ~300 million barrel transportation opportunity for Genesis with no capital expenditures required and virtually ~100% EBITDA margin • Project completed earlier than anticipated with a 60% reduction in cost from original development plan(a) • Initial discovery in 2009 by Chevron and evaluated as a new standalone production facility

– Chevron elected to not move forward with a new production facility • LLOG took over operatorship in 2017

– Created a phased development that reduced break-even price for produced oil from Buckskin by 30%(a) that included the use of the existing Lucius infrastructure

Buckskin

(a) Per “The Buckskin Development” Oil & Gas Journal article dated June 2019. 21 Sodium Minerals Overview

Largest North American Producer of Low Cost Natural Soda Ash

• Market leading position with highly consistent cash flow profile Genesis has Largest Trona Lease Holding in U.S. and significant barriers to entry • ~3.5 million tons per year of natural soda ash production capacity with an estimated remaining reserve life of over 100 years in current seam(a) • Reserves located in world’s largest trona deposit, accounting for over 80% of the world's economically viable soda ash(b) • Facilities have been in continuous operation since 1953 • Diverse range of industries and end-market demand including glass, chemicals, soaps and detergents

– Essential component to glass manufacturing

 Lowers energy usage Genesis  Increases workability of the molten glass

Soda Ash Production Facilities Westvaco “Cold Stacked” ELDM Mono I & II Sesqui Granger

Year Built 1996 Mono I: 1972 / Mono II: 1976 1953 1976 Feed Solution Dry Ore Dry Ore Solution Products Dense Ash Dense Ash Light, Dense & Fine Ash, S-Carb Dense Ash Approximate % Genesis Production 26% 45% 25% 4%

(a) Based on 2020 production rate less Granger capacity which is currently idled. (b) USGS estimates based on 2018 data. Assumes Green River trona accounts for ~87% of US natural soda ash reserves based on 2009 USGS data. 22 Soda Ash Market Summary

Supply / Demand Balance Expected to Remain Tight over Long-Term

(a) • Turkey expansion at Kazan (startup 2017) ~2.5 million metric Historical U.S. Natural Soda Ash Pricing tons per year fully absorbed by market • No significant global natural supply expected to be online for $160 2-3+ years $150 $142 $141 $139 $140 $140 $136 $136 $135 • U.S. demand is relatively stable $134 $133 $133 $130 $130 • Domestic natural soda ash competitively positioned vs. global $122 high cost synthetic to supply export growth in freight $120 advantaged markets of Asia and Latin America $116 $ / / $ Short Ton $110

• Long term global demand (ex. China) expected to grow 2 – 3% $100 per year(c) $90 – Driven by emerging middle class and increasing per capita $80 consumption in Asia (ex. China) and Latin America 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020(b) Soda Ash Price • Both the U.S. (natural) and China (synthetic) are net exporters of soda ash Global Supply Sources(c) 2020 Genesis Sales Volume by Geography

Low Cost Natural Latin America Production 25% 29% North America 48%

High Cost Synthetic 71% Asia-Pacific 25%

EMEA Note: EMEA stands for Europe, Middle East and Africa. 2% (a) Per USGS. United States average sales value (natural source), FOB Mine or plant, dollars per short ton. (b) Per USGS. 2020 is an estimated price. (c) Per IHS, Company estimates and USGS. 23 Soda Ash Demand Drivers

Growing Global Demand (Ex. China) Driven by Emerging Middle Class & Green Initiatives

(a)(b) • Soda ash demand is driven by a diversified set of global end 2020 Global End-Markets (%) markets Metals / Lithium Mining Carbonate 1% • Over 75% of global demand from glass, chemicals and soaps / 4% Soaps / detergents Detergents 14% – Flat glass (e.g. windows for buildings, houses & automobiles), container glass and other glass (fiberglass, furniture, lightbulbs) makes up ~52% of global demand Glass 52% – Chemicals and soaps / detergents make up an additional ~27% Other of global demand 15%

• As emerging economies continue to develop, demand for glass, chemicals and soaps/detergents is expected to continue to rise Chemicals • Green initiatives starting to underpin soda ash demand 14% Global Per Capita Consumption(a) – Slightly more than two parts of soda ash for each part of lithium to make lithium carbonate or lithium hydroxide, the major 20.0 Avg: 15.5 kg/yr. 18.0 constituent of new generation lithium ion/phosphate batteries 18.0 +238% 15.2 15.4 for electric vehicles 16.0

14.0 13.3 – Accelerating endeavors to retrofit windows on older buildings to meet the standards for LEED certification should lead to 12.0 significant new demand for glass 10.0

8.0 6.8 Avg: 4.6 kg/yr. • Emerging economies have a significant soda ash demand 6.0 5.2 3.4

runway ahead of them when compared to industrialized Per Capita Usage (kg/year) 4.0 economies 2.9 2.0

– Per capita consumption growth is driven by the continued 0.0 Indian MEA N. & SE. Latin C. & E. Western U.S.A. & China emergence of the middle class in each region Subcontinent Asia America Europe Europe Canada (a) Per IHS, USGS and Company estimates. Emerging Economies Developed Economies (b) Other includes: Pulp & Paper, Alumina and Other. 24 Natural Soda Ash Cost Advantage

Low Cost Position Drives Stable Cash Flow Generation

(a) • Global low cost soda ash producer Natural vs. Synthetic Production – Average cost to produce natural soda ash is ~50% of the cost Solvay U.S. Natural China HOU to produce synthetic soda ash Process – Synthetic soda ash consumes substantially more energy, Salt (brine), Salt (brine), incurs additional costs associated with by-products and has a Raw Trona Ore Limestone, Limestone, Materials greater carbon footprint Ammonia Carbon Dioxide • Cost advantage allows Genesis to compete on global market

– Historically have sold every ton of soda ash we can safely Energy 4 - 6 10 - 14 10 - 14 produce Usage MMBtu / ton MMBtu / ton MMBtu / ton • Genesis has been the technological innovator since the first natural soda ash plant was built in Wyoming Calcium Ammonium – The “know how” and size and scale of the world’s largest trona By-Products None Chloride Chloride mine and soda ash facility gives us unique advantages over (waste product) (co-product) our competitors

2020 Global Production Capacity(a) Relative Production Cost(a)

U.S. Natural 2.2x 19% 1.8x

Solvay Process 1.5x 45%

1.0x Others 15%

China Hou 20% U.S. Natural EU Solvay China Solvay China Hou

(a) Per IHS, Company estimates and USGS. 25 Granger Facility Expansion

Overview Granger Pre-Expansion • Genesis plans to invest ~$330 million (includes contingency) to expand its Granger soda ash facilities (the “Granger Optimization Project” or “GOP”) by approximately 750k tons per year

– Anticipated construction period of 48 months

– Ramp-up of existing solution mining at Granger and is designed as a near-replica of existing ELDM facility (operating since 1995) • Opportunity for Genesis to position itself as next logical global supplier of natural production and meet increasing demand / compete with cost-disadvantaged synthetic production • Natural soda ash production cost is less than 50%(a) of the production cost of the marginal synthetic producers Granger Post-Expansion – ~30% global demand(a) is met by natural production. The remaining demand is backfilled by high cost synthetic production • In conjunction with the expansion, Genesis has entered into agreements with funds affiliated with GSO Capital Partners LP (“GSO”) for the purchase of up to $350 million of preferred interests in an unrestricted subsidiary (“Alkali Holdings”) of Genesis which will hold 100% of Genesis’ alkali business • Currently expect to bring on a fully expanded Granger facility in late 2023 at a full expanded capacity of 1.2 million tons per year

– Will join our Westvaco facility as one of the most economic soda ash production facilities in the world

(a) Per IHS and Company estimates. 26 Sulfur Services Overview

Market Leader of NaHS Production and Leading Provider of Sulfur Removal Services

• Market leading position with highly consistent cash flow profile Production Process and Sales Overview and significant barriers to entry to replicate both asset and Nat Gas NaHS Trucks marketing footprint H2S NaHS Unit Barges & Ships • Consistent cash flow generation through all economic cycles "Gas Processing" Terminals Nat Gas • Long-term relationships with both refineries and customers Refiners Rail Cars spanning 30+ years

• Sour “Gas Processing” units inside the fence at 10 refineries NaHS End Markets(a) play integral role in sulfur removal for each refinery Mining (50%) Pulp & Paper (35%) Others (15%)

– Run in parallel or in lieu of traditional sulfur removal units Chemical Tanning – Reliable and trusted operator of owned assets inside refinery fence Environmental

• Produce NaHS through proprietary process utilizing Caustic Sulfur Removal Units Soda (“NaOH”) reacted with high H2S gas Relationship Annual • Take NaHS in kind as compensation for sulfur removal Refinery Operator Location History Capacity (DST) services and sell NaHS primarily to large mining, pulp & paper Phillips 66 Westlake, LA 25 Years 110,000 and other customers: Holly Refinery Tulsa, OK 5 Years 24,000 Holly Refinery Salt Lake City, UT 9 Years 21,000 – ~80% of our cost of goods is NaOH Citgo Corpus Christi, TX 15 Years 20,000 – ~75% of our sales contracts are indexed to caustic soda prices Delek El Dorado, AR 35 Years 15,000 (cost-plus) Chemtura El Dorado, AR 15 Years 10,000 – Remaining ~25% of our contracts are adjustable (typically 30 Albemarle Magnolia, AR 35 Years 8,000 days advance notice) Ergon Refinery Vicksburg, MS 35 Years 6,000 Cross Oil Smackover, AR 25 Years 3,000 Ergon Refinery Newell, WV 35 Years 2,800

(a) As of year end 2020. 27 Onshore Facilities & Transportation Overview

Integrated Asset Footprint with Exposure to Significant Refinery Demand Baton Rouge Complex Texas City Terminal Raceland Terminal Other Legacy Onshore Assets • Underpinned by take-or-pay (“ToP”) • Underpinned by ToP contracts with • Connection to Genesis owned • Crude oil pipelines in Mississippi, contracts with ExxonMobil ExxonMobil and operated Poseidon pipeline Alabama & Florida • Integral part of ExxonMobil’s Baton • Connection to Genesis owned • Rail unloading facility capable of • Crude and refined products storage Rouge refinery logistics and slate and operated CHOPS pipeline handling 2 unit trains per day / marketing • Rail unloading facility (Scenic • Destination point for various Gulf of • Downstream pipeline delivery points • ~200 trucks & ~300 trailers Station) capable of handling over 2 Mexico grades including CHOPS / include St. James, LA via LOCAP & • ~400 leased railcars unit trains per day HOOPS ExxonMobil’s Baton Rouge refinery • Connectivity to deepwater import / • Current downstream pipeline via ExxonMobil’s North Line export docks at Port of Baton Rouge delivery points include ExxonMobil’s • Exploring potential connectivity to Baytown refinery (via Webster) • Multiple fee “touch points” for pipelines for delivery downstream to Genesis across the integrated • Exploring potential export export facilities in Louisiana platform connectivity

Scenic Station Terminal Gulf of Mexico Connectivity Texas City, TX Raceland, LA

LOCAP to St. James GEL 18” Pipeline to Webster XOM Pipeline to Baton Rouge

Texas City Raceland Terminal Terminal Texas City Terminal GEL Raceland Houma Pipeline CHOPS Poseidon GOM GOM

Raceland Terminal

CHOPS Poseidon

28 Asset Snapshot: Baton Rouge Complex

Integrated Crude & Intermediates Logistics Platform

• Integral part of day-to-day refinery logistics and feedstocks for Baton Rouge Complex Exxon Mobil's Baton Rouge refinery (4th largest U.S. refinery with 503 kbd of capacity) Port Hudson Terminal • Scenic Station is the primary home for Imperial / ExxonMobil's equity Canadian production (Kearl, Cold Lake) that moves via rail Scenic Station – Portion of volume is consumed at the refinery and remainder is Terminal exported both internationally and domestically via Baton Rouge Terminal (“BRT”) or Port Hudson Terminal

• Baton Rouge Terminal activity driven by (i) steady supply of XOM Refinery vacuum gas oil (“VGO”) imports consumed by the refinery, (ii) distressed opportunistic crude imports consumed by the Baton Rouge refinery and (iii) rail exports from Scenic Station Terminal Value Proposition – Multiple “Touch Points” for Genesis to Earn Fees • Receive barrels by barge / truck Port • Pipeline delivery to XOM refinery / other area refineries Port Hudson • Receive barrels by pipeline from Scenic Station & load barges Hudson Terminal • 556 kbbls total shell tank storage capacity Terminal • Origination of 18 mile, 24” pipeline to Scenic Station, XOM refinery and Baton Rouge Terminal Baton • Deliver barrels by pipeline to XOM refinery / Port Hudson / BRT Rouge • 440 kbbls total shell tank storage capacity Scenic Terminal • Unload 100+ car unit trains from Alberta & other markets Station • Connected to Canadian National (direct) & Canadian Pacific (via KCS) XOM Terminal Refinery Railroads • Capable of receiving and unloading over 2 unit trains per day

Scenic Terminaling Fee • Receive barrels by pipeline from Scenic Station & load ships for export Station Paid to GEL Baton • Receive barrels by ship & deliver barrels by pipeline to XOM refinery Terminal Rouge • 1,700 kbbls total shell tank storage capacity Pipeline Fee Terminal • Connectivity to 2 deepwater docks (Port of Baton Rouge) Paid to GEL • Import / export capabilities for both crude oil and intermediates 29 Marine Transportation Overview Bottom of the Cycle & High Degree of Operating Leverage

• Inland barges are all asphalt capable, heated barges primarily Genesis Marine Equipment utilized in black oil service American Inland Offshore Phoenix • American Phoenix currently under term contract with new Total Fleet credit-worthy customer through 2021 ~2.3 kbbl ~0.9 kbbl ~0.3 kbbl Capacity • Business operates with largely fixed costs and a high degree Capacity 23-39 kbbl 65-135 kbbl 330 kbbl of operating leverage Range • Potential increased demand driven by IMO 2020 and widening Push/Tug 33 9 - spread between WTI & Brent crude oil Boats

• Younger, more efficient fleet that is well positioned to benefit Barges 82 9 - from likely retirement of a significant amount of market capacity Product - - 1 Tankers Inland Tank Barges by Age(a) Offshore Barges by Age(b)

1,200 160

140 1,000 959 117 823 120 800 100 >400 barges 572 600 30+ years old and 80 73 candidates for 18 barges

# of Barges#of retirement 372 Barges#of 60 25+ years old and 400 272 42 candidates for 207 238 40 retirement 200 153 21 18 20 14 21 1 3 0 0 0 to 5 5 to 10 10 to 15 15 to 20 20 to 25 25 to 30 30 to 35 35 to 40 >40 0 to 5 5 to 10 10 to 15 15 to 20 20 to 25 25 to 30 30 to 35 35+ Years Years (a) Per industry research. (b) Per industry research & sources. Includes tank barges with 75k-195k, <75k and >195,000 barrels of capacity. 30 Appendix & Reconciliations Corporate Information Debt and Preferred Equity Profile & Corporate Structure Balance Sheet Overview Corporate Structure(a)

(b) • Committed to long-term leverage ratio of 4.00x Series A Class A Class B Convertible Common Units Common Units • No near-term maturities Preferred Units (122,539,221) (39,997) (25,336,778) – In January, 2020, re-financed 2022 notes with new 2028 notes

– In December, 2020, re-financed 2023 notes with new 2027 notes

– Successfully repurchased ~$154 million of unsecured notes at (a) 100% average price of $0.82 Genesis Energy, L.P. Ownership (NYSE: GEL) • Self-funding expected 2021 growth capital of ~$40 million

• $1.7 billion senior secured credit facility; 20 participating banks General Partner Genesis Energy, LLC – Maturity: May 2022 NO IDRs Operating – Maximum Leverage Ratio: 5.75x through 1Q 2021, 5.50x thereafter Subsidiaries(c)

Long-Term Debt Overview ($MM)(d) Preferred Equity Overview Senior Notes Outstanding Under Senior Secured Credit Facility Series A Convertible Preferred Units

$1,000 – Issuance Price: $33.71 per unit

– Current Amount Outstanding: ~$854 million(a) $750 $750 $721 – Annual Distribution Rate: 8.75%

$634 – Current Holders: KKR Global Infrastructure & GSO Capital $500 $535 Partners

$341 $360 Granger Facility Expansion Preferred Financing $250 – Preferred Interest Amount: Delayed draw of up to $350 million 5.625% 6.50% 6.25% 8.00% 7.75% Notes Notes Notes Notes Notes $- – Annual Distribution Rate: 10.00% 2020 2021 2022 2023 2024 2025 2026 2027 2028 • PIK during anticipated 48 month construction period (a) As of December 31, 2020. (b) As calculated under our senior secured credit facility. – Current Holders: GSO Capital Partners (c) Includes Granger facility expansion preferred financing. (d) Outstanding amount under senior secured credit facility as of December 31, 2020, net of $4.8 million of cash 32 and cash equivalents. Pro forma for 2027 unsecured notes offering. Environmental, Social & Governance (“ESG”)

Supporting Business Priorities & Our Investors Through ESG

• Genesis is committed to operating its business in a responsible and sustainable manner

– Understanding, monitoring, engaging and improving ESG metrics is central to our long-term strategy and value creation

• Increasingly aware of our impact on the environment, our communities and our workforce

– Managing our air emissions

– Understanding the impact to our local communities

– Reviewing the diversity of our workforce

• Board and management engagement throughout the development and implementation of a formal ESG program

• Long history of environmental stewardship combined with safe and reliable operations

Current Activities Future Initiatives • Organize data in 2019 & 2020 • Publish initial ESG web site in 1Q 2021

• Retained third party firm to help Genesis evaluate its ESG • Further integrate formal ESG initiatives in to everyday program and strategy operations

– Dedicated personnel to support ESG initiatives • Incentivize employees for continuous improvement

– Conducting self-assessment and gap analysis; reinforce path • Engage with ESG rating firms forward • Enhance disclosures • Understand our impact today and how it might look 5-10+ years from now

– Benchmarking against our peers on a variety of metrics

33 Recent Administration Executive Order Details

Actual Orders are Different Than the Media Headlines

The Secretary of the Interior Order No. 3395 – January 20th, 2021

• On January 20th, the Secretary of the Interior issued temporary Order No. 3395 which will remain in effect for 60 days from issuance • The most relevant section impacting Genesis and the Gulf of Mexico is section 3(g):

– Sec. 3. Suspension of Authority. The delegations of authority to Department Bureaus and Offices to take any of the following actions are hereby temporarily suspended, but may be approved by leadership identified in Section 4 of this Order: • (g).To issue any onshore or offshore fossil fuel authorization, including but not limited to a lease, amendment to a lease, affirmative extension of a lease, contract, or other agreement, or permit to drill. This does not limit existing operations under valid leases. It also does not apply to authorizations necessary to: (1) avoid conditions that might pose a threat to human health, welfare, or safety; or (2) to avoid adverse impacts to public land or mineral resources.

Executive Order – January 27th, 2021 • On January 27th, the Biden administration issued the “Executive Order on Tackling the Climate Crisis at Home and Abroad”

• The most relevant section impacting Genesis and the Gulf of Mexico is section 208:

– Oil and Natural Gas Development on Public Lands and in Offshore Waters. To the extent consistent with applicable law, the Secretary of the Interior shall pause new oil and natural gas leases on public lands or in offshore waters pending completion of a comprehensive review and reconsideration of Federal oil and gas permitting and leasing practices in light of the Secretary of the Interior’s broad stewardship responsibilities over the public lands and in offshore waters, including potential climate and other impacts associated with oil and gas activities on public lands or in offshore waters. The Secretary of the Interior shall complete that review in consultation with the Secretary of Agriculture, the Secretary of Commerce, through the National Oceanic and Atmospheric Administration, and the Secretary of Energy. In conducting this analysis, and to the extent consistent with applicable law, the Secretary of the Interior shall consider whether to adjust royalties associated with coal, oil, and gas resources extracted from public lands and offshore waters, or take other appropriate action, to account for corresponding climate costs

34 GOM Permitting Process Summary

Overview of Key Milestones

GOM Planning and Permitting Process Summary

• Under the Outer Continental Shelf Lands Act (“OCSLA”), a lessee must first submit an Exploration Plan (“EP”) to the Exploration Plan & Drilling Approval (after issuance of lease) Department of Interior (“DOI”) for review and approval

NEPA Exploration Review / Exploration APD Begin – EP must include an Oil Spill Response Plan APD Plan Federal & Plan Review Review & Exploration Submitted Submitted State & Approval Approval Drilling Coordination – DOI to conduct an analysis of the EP’s potential environmental impacts pursuant to the National Environmental Policy Act (“NEPA”) Development and Production Plan and Drilling Approval – Following the approval of its EP, a lessee must seek permission to conduct exploratory drilling, as described in its approved EP, by filing an Application for Permit to Drill (“APD”) NEPA Review / DPP / DOCD APD Begin DPP / DOCD APD Federal & Review & Review & Drilling & Submitted Submitted • During the development stage, the lessee must submit either State Approval Approval Production a Development and Production Plan (“DPP”) or a Coordination Development Operations Coordination Document (“DOCD”)

– After DOI approves the DPP or DOCD and the APD for any production wells the lessee intends to drill, the lessee can begin drilling for production.

35 Genesis Major Project Permitting Status

Producer Confidence Reinforcing Schedule

• BP has received its DOCD for Argos / Mad Dog 2 (140k/d capacity) GOM Planning and Permitting Process Summary

– All pre-first oil wells have been drilled Exploration Plan & Drilling Approval (after issuance of lease) – in hand to drill additional wells

• Murphy has submitted their DOCD for King’s Quay (80k/d capacity) NEPA Exploration Review / Exploration APD Begin APD Plan Federal & Plan Review Review & Exploration – Has 4 wells already drilled and awaiting completion Submitted Submitted State & Approval Approval Drilling Coordination – Received drilling permits for additional wells on January 15th & 20th, 2021

• LLOG has submitted their DOCD for their Spruance discovery Development and Production Plan and Drilling Approval

– Initial 2 wells already drilled

NEPA Review / DPP / DOCD APD Begin DPP / DOCD APD Federal & Review & Review & Drilling & Submitted Submitted State Approval Approval Production Coordination

Producer 4Q 2020 Earnings Commentary(a)

“The Khaleesi, Mormont and Samurai project advanced ahead of the “On Mad Dog Phase 2, sail away of the Argos FPU from the Samsung 2021 drilling campaign, with first oil remaining on target for mid-2022. yard in Korea is imminent, an important milestone for a key project. And Construction of the King’s Quay floating production system continued with all pre first oil wells drilled, this further underpins our confidence and is approximately 90 percent complete, having reached a significant in delivery.” milestone of mating the hull and topsides."

“Murphy is well positioned to continue execution of our short-term “…and then really importantly, in 2022, two of the very best, highest- and long-term projects, including Khaleesi, Mormont, Samurai and margin projects in our portfolio, Mad Dog Phase 2 and Tangguh our non-operated projects based on approvals in hand, discussions with Train 3 come online and Cassia and Trinidad as well." our regulators and progress made in the last week, obtaining actual approvals to conduct ongoing operations on current leases…"

(a) BP and Murphy comments per recent 4th quarter earnings conference calls on February 2, 2021 and January 28, 2021, respectively. 36 Balance Sheet & Credit Profile Leverage Ratio & Common Unit Distribution Coverage Ratio

($ in 000s) 12/31/2020 Senior secured credit facility $643,700 Senior Unsecured Notes 2,750,016 Less: Outstanding inventory financing sublimit borrowings (34,400) Less: Cash and cash equivalents (4,835) Adjusted Debt(a) $3,354,481

Pro Forma LTM 12/31/2020 Consolidated EBITDA(b) $576,013 Consolidated EBITDA Adjustments(c) 26,353 Adjusted Consolidated EBITDA(d) $602,366

Adjusted Debt / Adjusted Consolidated EBITDA 5.57x

Q4 2020 Q4 2020 Reported Available Cash Before Reserves $52,425

Q4 2020 Common Unit Distributions 18,387

Common Unit Distribution Coverage Ratio 2.85x

(a) We define Adjusted Debt as the amounts outstanding under our senior secured credit facility and senior unsecured notes (including any unamortized premiums or discounts) less the amount outstanding under our inventory financing sublimit, less cash and cash equivalents on hand at the end of the period from our restricted subsidiaries. (b) Consolidated EBITDA for the four-quarter period ending with the most recent quarter, as calculated under our senior secured credit facility. (c) This amount reflects adjustments we are permitted to make under our senior secured credit facility for purposes of calculating compliance with our leverage ratio. It includes approximately $13.5 million for cost savings initiatives we are permitted to add back through the second quarter of 2021. In addition, it includes a pro rata portion of projected future annual EBITDA of approximately $12.8 million associated with material organic projects. This amount is calculated based on the percentage of capital expenditures incurred to date relative to the expected budget, which was approximately 36% as of the 2020 quarter, multiplied by the total annual contractual minimum cash commitments we expect to receive as a result of the project. This adjustment may not be indicative of future results. (d) Adjusted Consolidated EBITDA for the four-quarter period ending with the most recent quarter, as calculated under our senior secured credit facility. 37 Reconciliation Segment Margin

($ in 000s) 3 Months Ended LTM December 31, 12/31/2020 2020 2020 2019 2018 Net Income (Loss) Attributable to Genesis Energy, LP ($416,678) ($85,156) ($416,678) $95,999 ($6,075) Corporate general and administrative expenses 51,457 9,297 51,457 52,755 64,683 Depreciation, depletion, amortization and accretion 302,602 73,841 302,602 308,115 323,208 Impairment expense 280,826 - 280,826 - 120,260 Interest expense 209,779 51,884 209,779 219,440 229,191 Income tax expense (benefit) 1,327 752 1,327 655 1,498 Loss (gain) on sale of assets 22,045 22,045 22,045 - (42,264) Equity compensation adjustments - - - 65 (112) Provision for leased items no longer in use 1,347 723 1,347 (1,367) (476) Cancellation of debt income (26,109) (6,768) (26,109) Redeemable noncontrolling interest redemption value adjustments 16,113 3,719 16,113 2,233 - Other - - - - - Plus (minus) Select Items, net 164,764 66,666 164,764 35,367 22,845 Total Segment Margin(a) $607,473 $137,003 $607,473 $713,262 $712,758 Consolidated EBITDA Adjustments(b) 26,353 Total Adjusted Segment Margin(a) $633,826

(a) We define Segment Margin as revenues less product costs, operating expenses, and segment general and administrative expenses, after eliminating gain or loss on sale of assets, plus or minus applicable Select Items. (b) This amount reflects adjustments we are permitted to make under our senior secured credit facility for purposes of calculating compliance with our leverage ratio. It includes approximately $13.5 million for cost savings initiatives we are permitted to add back through the second quarter of 2021. In addition, it includes a pro rata portion of projected future annual EBITDA of approximately $12.8 million associated with material organic projects. This amount is calculated based on the percentage of capital expenditures incurred to date relative to the expected budget, which was approximately 36% as of the 2020 quarter, multiplied by the total annual contractual minimum cash commitments we expect to receive as a result of the project. This adjustment may not be indicative of future results. 38 Reconciliation Available Cash Before Reserves

($ in 000s) 3 Months Ended LTM December 31, 12/31/2020 2020 2020 2019 2018

Net income (loss) attributable to Genesis Energy, L.P. ($416,678) ($85,156) ($416,678) $95,999 ($6,075) Interest expense 209,779 51,884 209,779 219,440 229,191 Income tax expense (benefit) 1,327 752 1,327 655 1,498 Loss on sale of assets 22,045 22,045 22,045 Impairment expense 280,826 - 280,826 - 120,260 Depreciation, depletion, amortization, and accretion 302,602 73,841 302,602 308,115 323,208 EBITDA $399,901 $63,366 $399,901 $624,209 $668,082 Redeemable noncontrolling interest redemption value adjustments $16,113 3,719 16,113 2,233 Plus (minus) Select Items, net 165,247 67,541 165,247 42,153 47,949 Adjusted EBITDA 581,261 $134,626 $581,261 $668,595 $716,031 Maintenance capital utilized (40,833) (11,533) (40,833) (26,875) (19,955) Interest expense (209,779) (51,884) (209,779) (219,440) (229,191) Cash tax expense (650) (100) (650) (590) (835) Cash distribution to preferred unitholders (74,736) (18,684) (74,736) (62,190) - Other - - - - Available Cash before Reserves(a) $255,263 $52,425 $255,263 $359,500 $466,050 Less: One-time Gain on Sale of Assets - (42,264) Adjusted Available Cash before Reserves $255,263 $423,786

Common Unit Distributions $73,548 $18,387 $73,548 $269,676 $262,320

Common Unit Distribution Coverage Ratio(b) 3.47x 2.85x 3.47x 1.33x 1.62x

(a) 2018 Available Cash before Reserves includes one-time gains on sale of assets of ~$42.3 million. (b) Distribution Coverage Ratio calculation excludes one-time gains on sale of assets of ~$42.3 million. 39 Reconciliation Adjusted Debt & Adjusted Consolidated EBITDA

($ in 000s)

Long-term debt 12/31/2020 2019 2018 2017 Senior secured credit facility $643,700 $959,300 $970,100 $1,099,200 Senior Unsecured Notes 2,750,016 2,469,937 2,462,363 2,598,918 Less: Outstanding inventory financing sublimit borrowings (34,400) (4,300) (17,800) (29,000) Less: Cash and cash equivalents (4,835) (8,412) (10,300) (9,041) Adjusted Debt(a) $3,354,481 $3,416,525 $3,404,363 $3,660,077

Consolidated EBITDA(b) $576,013 $668,595 $670,957 $561,961 Consolidated EBITDA Adjustments(c) 26,353 - (7,351) 123,815 Adjusted Consolidated EBITDA(d) $602,366 $668,595 $663,606 $685,776

Adjusted Debt / Adjusted Consolidated EBITDA 5.57x 5.11x 5.13x 5.34x

($ in 000s) 3 Months Ended LTM December 31, 12/31/2020 2020 2020 2019 2018 Applicable to all Non-GAAP Measures Differences in timing of cash receipts for certain contractual arrangements(a) $40,848 $11,668 $40,848 ($8,478) ($6,629) Distributions from unrestricted subsidiaries not included in income(b) 70,490 21,870 70,490 8,421 7,633 Revaluation of certain liabilities and assets - - - - - Unrealized (gain) loss on derivative transactions excluding fair value hedges, net of changes in inventory value 1,189 20,855 1,189 10,926 (10,455) Loss on debt extinguishment 31,730 8,250 31,730 - 3,339 Adjustment regarding equity investees(c) 17,042 2,542 17,042 20,847 28,088 Other 3,465 1,481 3,465 3,651 869 Sub-total Select Items, net (Segment Margin)(d) $164,764 $66,666 $164,764 $35,367 $22,845 Applicable only to Adjusted EBITDA and Available Cash before Reserves Certain transaction costs(e) 937 861 937 3,755 9,103 Equity compensation adjustments 0 - 0 (137) (207) Other (454) 14 (454) 3,168 16,208 Total Select Items, net(f) $165,247 $67,541 $165,247 $42,153 $47,949

(a) Includes the difference in timing of cash receipts from customers during the period and the revenue we recognize in accordance with GAAP on our related contracts. For purposes of our Non-GAAP measures, we add those amounts in the period of payment and deduct them in the period in which GAAP recognizes them. (b) Represents the net effect of adding cash receipts from direct financing leases and deducting expenses relating to direct financing leases. (c) Represents the net effect of adding distributions from equity investees and deducting earnings of equity investees net to us. (d) Represents all Select Items applicable to Segment Margin, Adjusted EBITDA and Available Cash before Reserves. (e) Represents transaction costs relating to certain merger, acquisition, transition and financing transactions incurred in acquisition activities. (f) Represents Select Items applicable to Adjusted EBITDA and Available Cash before Reserves. 41