SunocoCorp LLC (SUNC) Investor presentation summary

Updated 2026 financial outlook and guidance

• Adjusted EBITDA guidance raised to $3.5–$3.7 billion for 2026, up from $3.1–$3.3 billion, reflecting strong growth and synergies from acquisitions.

• Capital spending remains steady at $400–$450 million, with over $500 million allocated for bolt-on acquisitions.

• Distribution per common unit is on pace for 10% growth in 2026, with a multi-year target of at least 5% annual growth.

• Key EBITDA drivers include Parkland acquisition synergies, robust legacy business performance, and accretive capital deployment.

• Long-term growth supported by scale, multinational investment opportunities, and quick-return projects.

Business overview and scale

• Largest independent fuel distributor in the Americas, distributing over 17 billion gallons annually across 33 countries and territories.

• Operates ~11,000 contracted locations, >170 owned terminals, and ~14,000 miles of pipeline.

• Diversified portfolio spans the U.S., Canada, Greater Caribbean, and Europe, with strong midstream and fuel distribution operations.

• Consistent value creation, with DCF per common unit growing for eight consecutive years and expected to continue.

• Over $20 billion deployed in growth and acquisitions since 2017, increasing DCF per unit by ~62%.

Financial profile and capital allocation

• Market capitalization of ~$14 billion and enterprise value of ~$29 billion as of July 2026.

• Revenue of $47 billion (pro forma trailing 12 months through June 2026).

• Attractive distribution yield (~5%) and coverage ratio (>1.8x since 2022), with annual distribution increases of 2–10%.

• Strong balance sheet, ample liquidity under a $2.5 billion credit facility, and a 4.0x long-term leverage target.

• Priorities include secure, growing distributions, disciplined growth investment, and maintaining a strong balance sheet.