• Well-underpinned distribution; unique and differentiated investment proposition
  • Improved operational results - pipeline gross throughput +8% higher than the fourth quarter of 2020; driven by increased offshore pipeline throughput
  • Financial results consistent with guidance previously provided - an example of 'doing what we say we are going to do'
  • Distribution coverage ratio of 1.1 times - declared quarterly cash distribution of 34.75 cents per unit for the first quarter 2021; continued building cash: +$2.5 million cash during the quarter
  • No change to full year 2021 guidance:
    • Adjusted EBITDA and Cash available for distribution expected to be broadly consistent with 2020
    • Distribution coverage ratio expected to be at the top end of target range of 1.1 - 1.2 times, assuming current distribution level

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BP Midstream Partners LP published this content on 06 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 May 2021 12:08:04 UTC.