SunocoCorp LLC (SUNC) investor relations material

Executive summary

• Net income for Q1 2026 rose to $644 million, up from $207 million in Q1 2025, driven by the Parkland and TanQuid acquisitions and a one-time gain on inventory sales.

• Adjusted EBITDA reached $867 million, excluding $9 million in transaction expenses and a $102 million one-time inventory gain, up from $458 million last year.

• Revenue for the quarter was $10.69 billion, up from $5.18 billion in Q1 2025, with significant growth in fuel distribution and terminal operations.

• Closed the TanQuid acquisition, making the company Germany's largest independent terminal operator and adding 16 fuel terminals in Europe.

• Announced a 6.25% increase in quarterly distribution, marking the sixth consecutive quarterly increase and reflecting financial stability and growth confidence.

Financial highlights

• Adjusted EBITDA reached $867 million, with distributable cash flow as adjusted at $535 million for Q1.

• Net income per common unit was $2.86 (basic), up from $1.22 in Q1 2025.

• Distribution declared at $0.9899 per common unit, up over 10% year-over-year.

• Trailing twelve-month coverage ratio was 1.9x; leverage at quarter-end was approximately 4x.

• Cash and cash equivalents at quarter-end were $718 million, with $2.2 billion available under revolving credit facility.

Outlook and guidance

• Expectation for the TanQuid acquisition to be immediately accretive to distributable cash flow per unit in 2026.

• Targeting a multi-year distribution growth rate of at least 5%.

• Maintenance capital expenditures for 2026 expected between $400–$450 million; growth capital at least $600 million.

• Confident in delivering full-year EBITDA guidance even excluding the one-time inventory gain.

• Management expects ongoing liquidity needs to be met through cash from operations and available credit.