Susser Holdings CorporationBusiness Review

October 2013

2

Some of the statements in this presentation constitute “forward-looking statements” about Susser Holdings Corporation and/or Susser Petroleum Partners that involve risks, uncertainties and assumptions, including without limitation, our discussion and analysis of our financial condition and results of operations. These forward-looking statements generally can be identified by use of phrases such as “believe,” “plan,” “expect,” “anticipate,” “intend,” “forecast” or other similar words or phrases in conjunction with a discussion of future operating or financial performance. Descriptions of our objectives, goals, targets, plans, strategies, costs, anticipated capital expenditures, expected cost savings, expansion of our foodservice offerings, potential acquisitions, and potential new store openings and dealer locations, are also forward-looking statements. These statements represent our present expectations or beliefs concerning future events and are not guarantees. Such statements speak only as of the date they are made, and we do not undertake any obligation to update any forward-looking statement.

We caution that forward-looking statements involve risks and uncertainties and are qualified by important factors that could cause actual events or results to differ materially from those expressed or implied in any such forward-looking statements. For a discussion of these factors and other risks and uncertainties, please refer to our respective filings with the Securities and Exchange Commission (“the SEC”), including those contained in our Annual Report on Form 10-K for our most recent fiscal year and any subsequent Quarterly Reports on Form 10-Q, available at the SEC’s website at www.sec.gov. We intend for the forward-looking statements to be covered by the Safe Harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and are including this statement for purpose of complying with these Safe Harbor provisions.

This presentation is not a prospectus and is not an offer to sell securities. Before you invest, you should read our filings with the SEC for more complete information about us.

Safe Harbor

3

Evolution of Our Business – Past and Present

Wholesale Dealer Site Retail Stripes® Site

4

Retail stores in Texas, Oklahoma and New Mexico 576 retail sites 11th largest company operated C-store

chain in the U.S. $1.0 billion of LTM merchandise sales

1.5 billion gallons distributed (LTM Q2 ‘13) 571 retail sites with fuel >580 contracted wholesale branded sites >1,800 unbranded commercial customers

Current Company Overview

24 consecutive years of same store sales growth

~ 70% of retail gross profit inside store

$169 million EBITDA (LTM Q2 ‘13) $183 million EBITDA (FY2012)

(retail fuel margin 1.3¢ higher than LTM)

5

Combined Susser Footprint

6

Highly Attractive, Growing Markets

% Growth + 21% + 10% + 18% + 18% + 19% + 10%

4.3

3.42.8

1.5 1.5

0.5

0

3

5

Texas California Florida Georgia North Carolina

National Avg.

Texas economy outperforming U.S. Ranked #1 for job growth Relatively strong housing market Lower unemployment than the U.S. Strongest Texas markets benefiting

from increased oil and gas drilling

State’s population growth projected to be one of the highest in the U.S. Grew 25% from 2000 - 2012 26.1 million today 45.3 million projected in 2040 (2)

(69% increase over 2010)

Texas named “Best State for Business” for the 9th consecutive year- CEO Magazine, May 2013

____________________Source: Unemployment Data: US Department of Labor and economagic.com; Population Data: US Census Bureau and other demographic information.(1) Change in Non-Farm Employment by state from June 2008 - June 2013.(2) Hobby Center for the Study of Texas, Rice University; assumes net migration equal to 2000-2010.

Texas Market Long-Term Job Growth (1)

Population Change ‘00–‘10 (Top 5 States)(in millions)

Texas+ 539,000

California(446,000)

Florida(233,000)

Michigan(121, 000)

Job Gains Job Losses

7

Favorable Market Demographics

High density of rapidly growing Hispanic population

Hispanics more frequent c-store shoppers than non-Hispanics

More likely to buy grocery foods, dairy and bread from c-stores

Fresh food important

Favorable core demographic, young population

54% of TX male pop. < 35

60% of South TX male pop. <35

~ 50% of Texas population <18 is Hispanic

Hispanic Population by Market

____________________Source: U.S. Census Bureau, 2009 estimates.(1) Store base includes Brownsville, Harlingen, McAllen, Falfurrias and Riviera markets. Demographic data for Brownsville-Harlingen and McAllen-Edinburg-Mission MSA’s.(2) Demographic data for Houston-Sugar Land-Baytown MSA.(3) “The C-Store Hispanic Shopper study, by The NPD Group.

(2)

95% 89%

57%

44% 35% 34% 32%

37%

16%

0%

25%

50%

75%

100%

Laredo RioGrandeValley

CorpusChristi

Midland-Odessa

SanAngelo

Houston Lubbock Texas U.S.

(1)

Use of C-Stores for Grocery Purchases(3)

Dairy, Ice Cream

Bread Fresh food prepared on

site

Grocery foods Perishable groceries

Single-served pre-packaged

food

0%

5%

10%

15%

20%

25%

30%

7%13%

6% 5% 7%2%

27%23%

19% 18%13% 11%

Non-Hispanics Hispanics

8

Successful completion of SUSP IPORaised net $206 millionSets market value for stable cash flow fuel distribution businessLowers cost of capital to help accelerate growth

Private Equity Sponsor exitReceived ~2.5X investment after 6.5 years - $36/share Increased float/liquidity in SUSS stock

Redeemed $425mm debt with cash and revolver $500mm new revolver, LIBOR+200Est. annual pre-tax interest savings $30 - $32mm (based on current

rates)

Recent Milestones

9

Accelerated Growth

Acquired Gainesville Fuel, Inc. in September 201360 million diesel gallons annual volumeCustomers are oil & gas producers in North Texas and Oklahoma2014 expected accretion:

SUSP: $0.05 to $0.10 distributable cash flow per unit SUSS: $0.03 to $0.07 earnings per share

Recent Milestones (cont’d)

2012 2013

Same Store Merchandise Sales Growth 6.6% est 2.5% - 4.5%New Stripes® Stores 25 28-30 total (19 YTD)

New Wholesale Contracted Dealer Sites 39 28-40 total (20 YTD)

New Jobs Created ~800 ~1,000

10

33%

67%

Fuel Non-Fuel

Retail Segment Overview576 retail sites (~49% fee properties)

Superior real estate and facilities

Strategy to drive customer count and transaction size

C-stores operate under powerful proprietary Stripes® brand 62% have proprietary Laredo Taco

Company® restaurants

Focus on higher margin food and beverage with less reliance on cigarettes and fuel

Retail Segment Gross Profit Contribution (1)

____________________(1) Reflects LTM results as of Q2 2013

11

Average Merchandise Sales per Store

2006 2007 2008 2009 2010 2011 2012 Q2 13 LTM

$1,000

$1,100

$1,200

$1,300

$1,400

$1,500

$1,600

$1,700

$1,800

$1,900

$1,142

$1,271

$1,437 $1,488

$1,540

$1,661

$1,792 $1,837

Growing the Top Line

• Favorable demographics

• New store development

• Aggressive category management

• Leveraging restaurant sales

• Investing capex to maintain quality of existing stores

• Building suggestive selling capabilities

Key Drivers(thousands)

+8%

+11%

+13%

+4%+3%

+8%

+8%+3%

8.9% CAGR

12

371 locations with a restaurant concept

357 Laredo Taco Company® locations

Authentic Mexican food catering to both Hispanic and non-Hispanic customers

Wide variety of delicious, spicy food at a great value

Foodservice drives higher-than-average gross margins

Additional merchandise purchases in ~73% of transactions

Laredo Taco Company® customers visit stores 40% more often

Proprietary Restaurant Service Differentiates Susser

13

2005 2006 2007 2008 2009 2010 2011 2012 2013 Q2

LTM

0

20

40

60

80

100

23 31 39

62 68 75 86

95 103

Number of LTC Food Units Sold Annually

Mill

ions

of U

nits

2005 2006 2007 2008 2009 2010 2011 2012 2013 Q2

LTM

$40$60$80

$100$120$140$160$180$200$220

$58 $71$88

$148 $158 $166$188

$210 $224

Foodservice Sales

$mill

ions

*Foodservice sales include restaurant (QSR), fast food, roller grill, coffee, fountain, and Slush Monkey ™ (frozen carbonated beverage).

Leveraging Hot, Fresh & DeliciousIt’s All About the Food

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Store-specific pricing

Leveraging scale

Aggressive category management

Capital invested in revenue-generating equipment

Driving the business through foodservice

Growing Merchandise Gross Profit Dollars

2007 2008 2009 2010 2011 2012 Q2 13 LTM

26%

28%

30%

32%

34%

36%

38%

32.5%

34.3%33.3% 33.6% 33.7% 33.9% 33.8%

35.6%

36.8%

35.7%36.0% 36.2%

36.3%36.2%

Merchandise Margin Including Other Income Series3

Merchandise Margin % Key Drivers

15

Average Fuel Gallons Sold per Retail Store

2006 2007 2008 2009 2010 2011 2012 Q2 13 LTM

1,000

1,100

1,200

1,300

1,400

1,500

1,600

1,700

1,243

1,319 1,355

1,388 1,421

1,491

1,578 1,616 Utilizing technology to

optimize volume and margin over the long term

New stores built for volumeInvestment - new fuel

dispensersExpansion of dieselLeverage scale/procurement

Built Capability to Execute Our Fuel Strategy

Initiatives

+5%

+3%+2% +2%

+5%

+6%

(thousands)

+6%

# Locations w/Auto Diesel

18-Wheel

173

27

197 316 337 360 380

29 56 57 61 68

419

70

+2%

424

71

4.9% CAGR

16

2013 Retail Growth

New Retail Store GrowthKarnes City – 6,844 sq. ft.Plus Truck Diesel Island

Del Rio – 6,844 sq. ft.Plus Lube Center

2009 2010 2011 2012 2013 E

15 14 19 25 28-30

Rosenburg– 6,844 sq. ft.

Spring – 6,844 sq. ft.League City– 6,844 sq. ft.

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New Store Returns

New Retail Stores Delivering ~ 20% Unlevered ROI

Unlevered ROI = Consolidated Store incremental cash flow before rent / Total initial store investment (not reduced for 3¢ SUSP fuel margin implemented 9/25/12).Levered ROI = Consolidated Store incremental cash flow after rent / Net store investment (after 3rd party sale/leasebacks, excludes debt financing and impact of drop-downs to SUSP). Data reflects LTM Q2 2013; Includes 13 acquired stores

12-24 (18) 25-36 (18) >36 (104)

-5%

0%

5%

10%

15%

20%

25%

30%

12%

25%23%

Unlevered ROI

Months Open (# Stores)

12-24 (18) 25-36 (18) >36 (104)0%

20%

40%

60%

80%

12%

45%

80%

Levered ROI

Months Open (# Stores)

18

Leading non-refining motor fuel distributor in Texas ~571 Stripes® stores with fuel ~95 contracted consignment locations ~490 contracted branded dealers ~ 1,800 unbranded commercial customers

Scalable wholesale and retail platformsHighly complementary with retail division

Increases purchasing power/diversification Increases strategic flexibility to rationalize sites

between retail and wholesale Enhances acquisition opportunities

4 acquisitions since Aug ‘09

Wholesale Segment Overview

1.5 Billion Gallons Sold LTM

Stripes59%

Dealer Consign-

ment8%

Dealer Supply21%

Commercial12%

19

Successfully executed public offering of wholesale distribution business in September 2012

Establishes FMV of wholesale distribution business tied to our stable cash flow (~$671 million as of 9/27/13 @ $30.59/unit)

Creates strategic vehicle for growth

Improves cost of capital

SUSS retains 50% of SUSP, 100% of general partner; will continue to consolidate financial results

FMV for Wholesale Segment: SUSP IPO

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Cents Per Gallon – Motor Fuel Margin (1)

Gallons Sold (1)

____________________(1) Pro forma for the Parent distribution contract and application of this contract to Stripes & consignment volumes for all historic periods shown prior to IPO. Actual results following IPO.(2) Represents supply dealers and other commercial customers.

Fuel Gross Profit (1)

SUSP: Stable & Growing Operating and Financial Performance

2009 – LTM Q2’13 CAGR: 6.2%2009 – LTM Q2’13 CAGR: 12.4%

2009 2010 2011 2012 LTM Q2'130

400

800

1,200

1,600

1,202 1,233 1,312 1,450 1,485

Stripes & Consignment Locations Third-Party

Gal

lons

(mill

ions

)

2009 2010 2011 2012 LTM Q2'13$0

$15

$30

$45

$60

$35.1 $39.1

$44.5 $50.2 $52.9

Stripes & Consignment Locations Third-Party

($ in

mill

ions

)2009 2010 2011 2012 LTM Q2’13

Stripes® & Consignment 3.0 3.0 3.0 3.0 3.0Third-Party(2) 2.7 3.5 4.2 4.4 4.8Average Fuel Margin: 2.9 3.2 3.4 3.5 3.6

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SUSP - Multiple Drivers of Growth

Rapid Stripes motor fuel volume growth Existing locations New locations

Significant sale/leaseback opportunities with 75 store option Rental income Built-in distributable cash flow growth at the MLP’s option

Organically adding new third-party dealers Adding new unbranded convenience stores and other

commercial customers

Pursue acquisitions of other wholesalers and supply contracts Leverage relationships with suppliers to improve deal flow

Joint strategic acquisition opportunities with SUSS

Dropdown and Organic Growth

Through Relationship with

SUSS

Expand Third-Party Wholesale Motor Fuel Distribution

Business

Acquisitions

SUSP has ~$152 million of capacity under its revolver to capture growth opportunities as of 6/30/13

22

2013 Wholesale Growth

New Wholesale Growth2009 2010 2011 2012 2013 E

27 20 21 39 28-40

Amigo Mart #2Houston, TX

Edge MartKaty, TX

Fresh Start #1Porter, TX

Zippy’s Food MartKilleen, TX

One Stop BuckerDallas, TX

Zippy’s Food MartKilleen, TX

23

$206mm net proceeds from SUSP IPO Sept. 2012 Reduced net debt to EBITDA to 1.1X

(1.6X at 06/30/13)

$29mm consolidated cash and $430mm available on SUSS/ SUSP revolvers at June ’13

$425mm 8.5% debt redeemed 5/15/13 Financed with ~$233mm of new SUSS

$500mm revolver and cash

Expect $30-$32mm annual pre-tax interest savings, or $0.90-$0.95 diluted EPS improvement

Consolidated Financial Strength and Flexibility Provides Opportunity for Growth

12/05 12/06 12/07 12/08 12/09 12/10 12/11 12/12 06/13$0

$100

$200

$300

$400

$500

$600

Cash Additional Liquidity (1)

(1) Unused availability on revolving credit facilities

12/07(1) 12/08 12/09 12/10 12/11 12/12 06/13 -

0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0

(1) Pro forma for acquisition of Town & Country (168 retail sites)

Net Debt to Ad-justed EBITDA

Reducing Leverage

Increasing Liquidity

24

Strong and resilient industry fundamentals

Leading market position in highly attractive markets

Synergistic, scalable business model delivering strong growth on retail and wholesale platforms

Differentiated retail strategy

Innovative information systems and technology

Strong liquidity and operating performance

Attractive growth opportunities in core markets

Experienced team passionately committed to delivering strong growth and performance

Proven ability to access capital

Key Investment Highlights

25

Helping communities grow and thrive for over 75 years…

Appendix

27

Proven Track Record of Growth 3rd generation family led fuel

business dating back to 1930s

Sam L. Susser joined the Company in 1988 when the Company operated five stores

Completed 13 significant acquisitions in last 24 years

Transitioned to a large-format store model in 1999 / Created Laredo Taco Company® restaurant concept in 2001

Completed SUSS initial public offering on October 24, 2006

Completed SUSP initial public offering on September 25, 2012

SUSS EBITDA up > 3x since IPO and increased retail stores by 65%

Locations

Adjusted EBITDAR

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Q2 2013

0

200

400

600

800

1000

1200

182334 306 305 306 319 325

504 512 525 526 541 559 567238

291 334 332 333 346 367

387 372 390 431565 579 583

420

625 640 637 639 665 692

891 884 915 957

1106 1138 1150

Retail Third-Party Dealers & Consignment Series3

($ in millions)

'00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 12 LTM Q2'13

$- $20 $40 $60 $80

$100 $120 $140 $160 $180 $200 $220 $240 $260

$26 $37

$51 $51 $59 $64 $68 $84

$145 $129

$163

$213 $229

$217

‘00 – ’13Q2 CAGR: 18%

28

EBITDAR Has Tripled Since 2006 IPO

2006 2007 2008 2009 2010 2011 2012 Q2 12 LTM

Q2 13 LTM

$40

$80

$120

$160

$200

$240

$68$84

$145$129

$163

$213$229 $225 $217

EBITDAR(in millions)

+31%

+26%

-11%

+24%

+73%

+8%-4%

(1) Normalizes retail CPG after credit cards at a 5-year rolling average of 14.7¢ and wholesale CPG at a 5-year rolling average of 5.5¢. Excludes G&A bonus and 401-K match. Adjusted to reflect impact of MLP on retail fuel margin

2006 2007 2008 2009 2010 2011 2012 Q2 12 LTM

Q2 13 LTM

$50

$75

$100

$125

$150

$175

$200

$225

$85$99

$153$164

$177$197

$215 $209 $209

Fuel Neutral EBITDAR (1)(in millions)

+7%

+11%

+8%

+54%

+17%

+9%

29

Key Financial Results

(1) $0.03 per gallon profit markup charged to Retail by SUSP implemented 9/25/12. This change shifts approximately 3 cents per gallon of gross profit from the retail segment to the wholesale segment. The Pro Forma amounts reflect the retail margins as if the markup had been implemented for the entire period presented.

(2) Beginning September 25, 2013 the Wholesale segment charges the Retail segment approximately 3 cent mark-up. Prior to this date no markup was charged. Amount shown for FY 2012 is full year blended margin.

2011 2012 2012 2013Merchandise Same Store Sales Growth 6.0% 6.6% 7.4% 3.2%

Merchandise Margin, Net of Shortages 33.7% 33.9% 33.8% 33.7%

Retail Average Per-Store Gallons Growth 4.9% 5.8% 6.9% 4.9%

Retail Fuel Margin (CPG) As Reported (1) 23.2¢ 21.8¢ 23.0¢ 17.4¢

Retail Fuel Margin, Pro Forma for MLP 20.2¢ 19.6¢ 20.0¢ 17.4¢

Wholesale Fuel Margin - 3rd Party (CPG) 5.9¢ 6.2¢ 6.1¢ 6.2¢

Wholesale Fuel Margin - Affiliated (2) 0.0¢ 0.8¢ 0.0¢ 3.0¢

Wholesale Fuel Margin, Pro Forma for MLP 3.0¢ 3.0¢ 3.0¢ 3.0¢

Gross Profit $557 $611 $303 $315

LTM Adjusted EBITDA $167 $183 $179 $169

Fiscal Year Q2 YTD

30

Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1 '11 Q2 '11 Q3 '11 Q4 '11 Q1 '12 Q2 '12 Q3 '12 Q4 '12 Q1 '13 Q2 '13

2.5%3.1% 3.4%

7.3%

5.6% 5.8%

7.4%

5.0%

6.7%

8.0%

5.8% 5.8%

4.2%

2.2%

Merchandise Same Store Sales Growth

Average Retail Gallons per Store Growth

Recent Operating Trends

Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1 '11 Q2 '11 Q3 '11 Q4 '11 Q1 '12 Q2 '12 Q3 '12 Q4 '12 Q1 '13 Q2 '13-0.2%

1.8%

3.9% 4.3%3.2% 3.6%

5.6%

7.2%

5.8%

8.0%

6.6%

3.1%4.1%

5.5%

31

Widening the Gap(in 000’s, based on LTM data)

2005 2006 2007 2008 2009 2010 2011 2012 2013 Q2 LTM

$300

$600

$900

$1,200

$1,500

$1,800

$1,055

$1,142

$1,270

$1,437$1,488

$1,540

$1,661

$1,792$1,837

$898$954

$999 $991 $1,001

$1,088 $1,075$1,134

$1,063

$742$778

$856

$928 $958

$1,015 $1,015

$1,150$1,191

$912

$978

$1,070$1,127

$1,172$1,217 $1,230 $1,223 $1,220

SUSS PTRY CASY CST

Average Per-Store Merchandise Sales

Note: Annual data based on each company’s fiscal year. LTM data based on latest fiscal quarter reported.

32

2005 2006 2007 2008 2009 2010 2011 2012 2013 Q2 LTM

600

800

1,000

1,200

1,400

1,600

1,800

1,186

1,243

1,319 1,355

1,388 1,421

1,491

1,578 1,616

1,114

1,230

1,306 1,289 1,269 1,255

1,152 1,117 1,108

806 821 836 859 854 869 869 888 896

1,763

1,820 1,817 1,825 1,819 1,856 1,847 1,855 1,848

SUSS PTRY CASY CST

Average Per-Store Gallons

Note: Annual data based on each company’s fiscal year. LTM data based on latest fiscal quarter reported.

Delivering Best in Class Volume Growth(in 000’s, based on LTM data)

33

New stores deliver strong returns Typical cost is currently $3.0 - $4.0 million Target ROI of approximately 20% by year 3 New stores are 2x the size and 3x the cash flow of

legacy stores

Growing Merchandise Sales per Square Foot

2005 2006 2007 2008 2009 2010 2011 2012 Q2 13 LTM

$340

$360

$380

$400

$420

$440

$460

$480

$500

$520

$540

Merchandise Sales per Sq. Ft. Average Building and Land Sq. Ft. per Retail Store

1999 2000

2001 2002

2003 2004

2005 2006

2007 2008

2009 2010

2011 2012

2013 Q2 2,600

2,800

3,000

3,200

3,400

3,600

3,800

20,000

25,000

30,000

35,000

40,000

45,000

50,000

55,000

Average Building Sq Ft Average Land Sq Ft

Build

ing

Sq F

t

Land

Sq

Ft

Sq. Ft. Range Store Count<2500 143

2500-3500 1633501-4500 83

>4500 178Total @ 6/30/13 567

Store Sq. Ft. Distribution

34

Existing Stores Continue to Grow144 Stores Opened Prior to 2000

Merchandise Sales Merchandise Gross Profit

Fuel Gallons 4-Wall Cash Flow

2005 2006 2007 2008 2009 2010 2011 2012$120

$140

$160

$180

$200

2005 2006 2007 2008 2009 2010 2011 2012115

120

125

130

135

2005 2006 2007 2008 2009 2010 2011 2012$40

$45

$50

$55

$60

$65

2005 2006 2007 2008 2009 2010 2011 2012$20

$25

$30

$35

$40

$45

(in millions)

35

Legacy Stores (Prior to 2000)

Town & Country Stores

AcquiredStores Built(2) All Stores

# of Stores (1) 144 154 146 559Avg. Building Sq. Ft. 2.6K 3.5K 5.2K 3.6KAvg. Lot Sq. Ft. 21K 50-60K 50-100K 50KAvg. Annual Merch Sales (000’s) $1,344 $1,911 $2,466 $1,792

Avg. Annual Fuel Gallons (000’s) 914 1,683 2,358 1,578

Avg. Annual Cash Flow (000’s) $289 $474 $633 $440

New Retail Stores Driving Cash Flow Growth

(1) All store counts are as of 12/30/12(2) Reflects stores built from 2000 to December 30, 2012 (FY2012 results). Results annualized for stores open < 12 months.

36

Post-MLP Organization Structure

____________________(1) One of Susser Petroleum Partners LP’s operating subsidiaries, Susser Petroleum Property Company LLC (‘‘Susser Propco’’), will be treated as a corporation for U.S. federal income tax purposes. Susser Petroleum Partners LP

expects that this subsidiary will own all Stripes® convenience stores purchased from SHC in connection with Susser Petroleum Partners LP’s option to execute sale and leaseback transactions under the omnibus agreement or otherwise.

(2) At time of SUSP IPO. Excludes any subsequent sites added or closed.

Susser Petroleum Partners LP

(the “Partnership”)(NYSE: SUSP)

Operating Subsidiaries (1)

Susser Petroleum Partners GP LLC

(the “general partner”)

Susser Holdings Corporation and subsidiaries (“Parent”)

Common UnitsSubordinated Units

Incentive Distribution Rights(NASDAQ: SUSS)

Public UnitholdersCommon Units

100% OwnershipInterest

50.1% Limited Partner

Interest

49.9%Limited Partner

Interest

0% Non-economicGeneral Partner

Interest

100% OwnershipInterest

Retail operationsStripes® c-stores

Sale of motor fuel at consignment locations

Owned properties for ~250 Stripes® locations (2)

What Remains at the Parent?

Wholesale operationsMotor fuel distribution to Stripes® c-storesMotor fuel distribution to the Parent for

supplying consignment locationsMotor fuel distribution to supply dealersMotor fuel distribution to unbranded c-

stores and other commercial customers41 owned stores and 12 leased sites

leased / sublet to independent operators (2)

What is in SUSP?

37

Key Investment Highlights – SUSP

Long-term, fee-based contracts

10-year fixed fee contract with the Parent

5-year average remaining term contracts with diversified 3rd parties

De minimis direct commodity risk

Very limited working capital needs

Strong and resilient industry fundamentals

Traditional MLP structure with conservative coverage

VISIBLE GROWTHSTABILITY Embedded growth with Parent

75 Stripes® store dropdown option (30 completed since IPO, incl. 22 in 2013)

25-30 currently expected in 2013 History of strong growth in Stripes

gallons (13.3% CAGR in last 5 years)

More than 190 net new third-party locations after 2007

Numerous acquisition opportunities in highly fragmented and attractive markets Ability to pursue opportunities jointly

Significant financial capacity for growth at both MLP and Parent

38

OverviewKey Brands

Valuable supply contracts with major oil companies and refiners

More than 20 branded and unbranded suppliers

Long-term relationships with suppliers provides attractive terms and ability to grow

Among the largest U.S. branded distributors of Valero and Chevron motor fuel

Our Strong, Long-Term Fuel Supplier Relationships

2012 Volumes by Supplier

Valero36%

Chevron19%

Others44%

39

Leverage scale/procurement

Building facilities designed for volume

Shift in product mix – higher margin in diesel

Consistent execution

Availability of information

Retail Fuel MarginKey Drivers

2006 2007 2008 2009 2010 2011 2012 Q2 13 LTM

0¢

5¢

10¢

15¢

20¢

25¢

10.8 12.1 13.6 11.1 14.117.7

16.3 13.4

2.92.7

4.2

3.5

4.3

5.55.5

5.5

- -

-

-

-

- 0.8

2.3

13.7 14.8

17.8

14.6

18.4

23.2

22.6

21.3

CPG After Credit Card Fee Credit Card Fee CPG MLP Impact on CPG

PF

(cents per gallon)

Note: Effective 9/25/12, retail fuel margin reduced by ~3 CPG for profit mark-up charged by SUSP. The Pro Formamargins shown above reflect the add back of the 3 cent margin that is now reported in wholesale gross profit.

PF21.8 Rpt18.9 Rpt

40

Q2 '08

Q3 '08

Q4 '08

Q1 '09

Q2 '09

Q3 '09

Q4 '09

Q1 '10

Q2 '10

Q3 '10

Q4 '10

Q1 '11

Q2 '11

Q3 '11

Q4 '11

Q1 '12

Q2 '12

Q3 '12

Q4 '12

Q1 '13

Q2 '13

0.0¢1.0¢2.0¢3.0¢4.0¢5.0¢6.0¢7.0¢8.0¢

6.0

7.3 7.2

3.54.0

5.1

3.74.2

5.8 5.95.1

5.1

7.06.5

5.1 5.0

7.2

6.4 6.35.9

6.4

Wholesale Third Party LTM

Q2 '08

Q3 '08

Q4 '08

Q1 '09

Q2 '09

Q3 '09

Q4 '09

Q1 '10

Q2 '10

Q3 '10

Q4 '10

Q1 '11

Q2 '11

Q3 '11

Q4 '11

Q1 '12

Q2 '12

Q3 '12

Q4 '12

Q1 '13

Q2 '13

0.0¢

5.0¢

10.0¢

15.0¢

20.0¢

25.0¢

30.0¢

35.0¢

19.5 22.3

17.7

11.8 15.2

19.7

11.9 11.1

24.8 22.8

15.0 15.3

31.2 27.7

18.6

13.3

32.4

20.3 24.1

19.6 21.2

Retail MLP Impact LTM

Retail Quarterly Volatility Consistent on LTM Basis, Wholesale Margins Even More Stable

Quarterly Fuel Margin – Cents per Gallon (1)

5 year: Pro Actual Forma

Low = 11.1¢ 11.1¢

High = 32.4¢ 32.4¢

Avg = 19.3¢ 19.8¢

LTM = 18.9¢ 21.3¢

5 year:

Low = 3.5¢

High = 7.3¢

Avg = 5.6¢

LTM = 6.3¢

(1) Reflects historic fuel margins by segment, as reported, prior to SUSP IPO. Effective 9/25/12, retail fuel margin reduced by ~3 CPG for profit mark-up charged by SUSP. Retail pro forma includes the add back of the 3 cent profit margin now reported in wholesale gross profit.

41

Fuel Margin History

* Includes full years onlyNote: We report Retail fuel margins before credit card expenses, which are included in other operating expense. Our Wholesale segment absorbs certain credit card expenses, which are included in the reported fuel margin.(1) Effective September 25, 2012, the retail fuel margin reflects a reduction of approximately three cents per gallon as SUSP began charging a gross profit mark-up on gallons sold to our retail

segment. Prior to this date, no gross profit mark-up was charged by the wholesale segment to the retail segment.

Q1 Q2 Q3 Q4 YTD Q1 Q2 Q3 Q4 YTD2006 9.3 15.4 21.1 9.2 13.7 2006 6.6 12.0 17.5 7.5 10.8 2007 12.0 17.3 15.9 14.1 14.8 2007 9.6 14.8 13.4 11.0 12.1 2008 12.0 19.5 22.3 17.7 17.8 2008 8.1 15.2 17.1 14.2 13.6 2009 11.8 15.2 19.7 11.9 14.6 2009 9.1 11.5 15.8 8.2 11.1 2010 11.1 24.8 22.8 15.0 18.4 2010 7.0 20.2 18.5 10.4 14.1 2011 15.3 31.2 27.7 18.6 23.2 2011 10.3 25.3 21.9 13.3 17.7 2012 (1) 13.3 32.4 20.1 21.1 21.8 2012 7.9 26.8 14.5 15.6 16.3 2013 (1) 16.6 18.2 - - 17.4 2013 11.0 12.7 - - 11.9

High* 15.3 32.4 27.7 21.1 23.2 High* 10.3 26.8 21.9 15.6 17.7 Low* 9.3 15.2 15.9 9.2 13.7 Low* 6.6 11.5 13.4 7.5 10.8 Average* 12.1 22.2 21.4 15.4 17.8 Average* 8.4 18.0 17.0 11.5 13.7

Median* 12.0 19.5 21.1 15.0 17.8 Median* 8.1 15.2 17.1 11.0 13.6

Q1 Q2 Q3 Q4 YTD Q1 Q2 Q3 Q4 YTD2006 9.3 15.4 21.1 9.2 13.7 2006 6.6 12.0 17.5 7.5 10.8 2007 12.0 17.3 15.9 14.1 14.8 2007 9.6 14.8 13.4 11.0 12.1 2008 12.0 19.5 22.3 17.7 17.8 2008 8.1 15.2 17.1 14.2 13.6 2009 11.8 15.2 19.7 11.9 14.6 2009 9.1 11.5 15.8 8.2 11.1 2010 11.1 24.8 22.8 15.0 18.4 2010 7.0 20.2 18.5 10.4 14.1 2011 15.3 31.2 27.7 18.6 23.2 2011 10.3 25.3 21.9 13.3 17.7 2012 13.3 32.4 20.3 24.1 22.6 2012 7.9 26.8 14.7 18.6 17.1 2013 19.6 21.2 - - 20.4 2013 14.0 15.7 - - 14.9

High* 15.3 32.4 27.7 24.1 23.2 High* 10.3 26.8 21.9 18.6 17.7 Low* 9.3 15.2 15.9 9.2 13.7 Low* 6.6 11.5 13.4 7.5 10.8 Average* 12.1 22.2 21.4 15.8 17.9 Average* 8.4 18.0 17.0 11.9 13.8

Median* 12.0 19.5 21.1 15.0 17.8 Median* 8.1 15.2 17.1 11.0 13.6

Retail Fuel Margin Retail Fuel Margin, net of Credit CardsProforma Excluding Impact of MLP Proforma Excluding Impact of MLP

Retail Fuel Margin, as Reported Retail Fuel Margin, net of Credit Cards

42

Fuel Margin History

Q1 Q2 Q3 Q4 YTD2006 7.0 10.3 13.4 6.9 9.4 2007 7.7 11.0 10.9 10.6 10.1 2008 9.1 13.7 15.9 13.4 13.0 2009 8.4 10.5 13.6 8.7 10.3 2010 8.4 17.0 16.1 11.0 13.1 2011 11.4 21.6 19.3 13.0 16.3 2012 10.0 21.9 14.9 16.9 16.0 2013 14.3 15.5 - - 14.9

High* 11.4 21.9 19.3 16.9 16.3 Low* 7.0 10.3 10.9 6.9 9.4 Average* 8.9 15.2 14.9 11.5 12.6

Median* 8.4 13.7 14.9 11.0 13.0

Total Consolidated Fuel MarginQ1 Q2 Q3 Q4 YTD

2006 5.7 8.7 11.8 6.0 8.1 2007 6.6 9.8 9.7 8.9 8.8 2008 6.8 11.2 12.9 11.3 10.6 2009 6.8 8.4 11.3 6.4 8.2 2010 5.9 14.3 13.5 8.2 10.5 2011 8.3 18.1 15.8 9.9 13.0 2012 6.7 18.6 11.6 13.7 12.7 2013 11.0 12.2 - - 11.6

High* 8.3 18.6 15.8 13.7 13.0 Low* 5.7 8.4 - - 8.1 Average* 6.7 12.7 12.4 9.2 10.3

Median* 6.7 11.2 11.8 8.9 10.5

Total Consolidated Fuel Margin, net of Credit Cards

* Includes full years onlyNote: We report Retail fuel margins before credit card expenses, which are included in other operating expense. Our Wholesale segment absorbs certain credit card expenses, which are included in the reported fuel margin.(2) The wholesale margin from third parties excludes gross profit from the retail segment. (3) Wholesale margin to Stripes reflects mark-up of approx 3 CPG from Sept 25, 2012. Prior to this date, no profit margin was recognized in the Wholesale segment on sales to Stripes stores.

Q1 Q2 Q3 Q4 YTD2006 4.8 5.9 6.9 4.8 5.6 2007 3.9 5.3 6.4 6.4 5.5 2008 4.9 6.0 7.3 7.2 6.4 2009 3.5 4.0 5.1 3.7 4.1 2010 4.2 5.8 5.9 5.1 5.3 2011 5.1 7.0 6.5 5.1 5.9 2012 (3) 5.0 7.2 6.1 6.3 6.2 2013 (3) 5.9 6.4 - - 6.2

High* 5.1 7.2 7.3 7.2 6.4 Low* 3.5 4.0 5.1 3.7 4.1 Average* 4.5 5.9 6.3 5.5 5.6

Median* 4.8 5.9 6.4 5.1 5.6

2012 (3) - - 0.2 3.0 0.8 2013 (3) 3.0 3.0 - - 3.0

Wholesale Third Party Fuel Margin (2)

Wholesale Affiliate Fuel Margin

43

Real Estate SummaryAs of June 30, 2013

(1) Reflects: dropdown of Stripes stores to SUSP since IPO through 6/30/13; 2 additional to date in Q3 2013(2) Includes the following at SUSP:

Contributed to SUSP at IPO: 41 fee and 12 leased sitesAdditional Acquisitions since IPO- 3rd Party: 2

(3) Total eliminates leased sites included in Retail segment that are owned by Wholesale segment

Controlled byOperating: Fee Leased Franchisee Total Sites

Retail 257 310 - 567Wholesale - Stripes operated (1) 20 0 - 20 Wholesale - 3rd party operated (2) 55 38 490 583Total Operating Sites (3) 332 328 490 1,150

Non-Operating:Land Bank / In Development 55 1 - 56Surplus / Income Producing 47 5 - 52Office / Warehouse 7 4 - 11

Total: 441 338 490 1,269

44

Tracking the Texas EconomyKey Economic Indicators

Yearly Totals

Year

Crude Oil Produced (Millions)

Value of Natural Gas Produced (Millions)

Active Oil & Gas Drilling

Rigs

Gasoline (Millions of

Taxed Gallons)

Diesel (Millions of

Taxed Gallons)

Median Sales Price

Existing Single Family Homes

Auto Sales Net

Value (Millions)

Packages Taxed

(Millions) 2006 $ 19,657.50 $ 19,852.10 746 11,372.80 3,731.60 $ 143,100 $45,756.20 1,280.2 2007 $ 21,622.10 $ 18,858.50 613 11,624.80 3,886.90 $ 146,450 $48,992.80 1,004.9 2008 $ 30,631.30 $ 23,258.80 640 11,709.70 3,854.00 $ 145,850 $44,442.40 1,077.0 2009 $ 18,363.90 $ 9,317.40 396 11,916.30 3,475.80 $ 143,750 $34,792.60 949.9 2010 $ 26,054.90 $ 11,482.50 670 12,141.80 3,698.10 $ 146,750 $38,797.50 951.2 2011 $ 39,406.00 $ 13,485.60 849 11,948.40 3,835.20 $ 147,800 $44,235.20 951.7 2012 $ 54,825.20 $ 12,713.10 912 12,261.50 3,963.40 $ 158,600 $52,866.30 958.2

Note: The cigarette packages taxed number was previously based on cigarette tax collections. The cigarette packages taxed number is now based on the number of cigarette tax stamps sold. All historical cigarette package taxed numbers have been revised to reflect this new method.Crude oil and natural gas figures are net taxable values. Gasoline gallons include gasohol. Auto sale values are calculated from motor vehicle taxes collected on new and used vehicle sales. All figures are not seasonally adjusted, except for industrial production, leading indicators and employment/unemployment. Figures are based on the most recent available data. Annual figures are for calendar years. Annual numbers for active oil and gas drilling rigs are the median for that calendar year.____________________Sources: Texas Comptroller of Public Accounts (Crude Oil, Natural Gas, Motor Fuel, Auto Sales, Cigarettes) Baker-Hughes Incorporated (Active Oil & Gas Drilling Rigs) The Real Estate Center at Texas A&M

University (Median Sale Price, Existing Single-family Home Sales)

45

____________________Sources: Texas Comptroller of Public Accounts (Crude Oil, Natural Gas, Motor Fuel, Auto Sales, Cigarettes) Baker-Hughes Incorporated (Active Oil & Gas Drilling Rigs) The Real Estate Center at Texas A&M

University (Median Sale Price, Existing Single-family Home Sales)

Tracking the Texas EconomyKey Economic Indicators

Monthly Totals

Month/Year

Value of Crude Oil Produced (Millions)

Value of Natural Gas Produced (Millions)

Active Oil & Gas Drilling

Rigs

Gasoline (Millions of

Taxed Gallons)

Diesel (Millions of

Taxed Gallons)

Median Sales Price

Existing Single Family Homes

Auto Sales Net

Value (Millions)

Cigarette Packages

Taxed (Millions)

12-Jun $ 3,796.70 $ 825.00 932 1,065.50 340.8 $ 165,500 $ 4,628.10 72.2 12-Jul $ 4,364.40 $ 1,023.90 910 1,038.00 332.1 $ 163,800 $ 4,775.00 74.8 12-Aug $ 4,848.90 $ 1,156.80 901 1,034.60 331.4 $ 160,600 $ 4,993.40 89.1 12-Sep $ 4,844.80 $ 1,066.70 876 1,063.70 347.9 $ 158,500 $ 4,554.60 67.3 12-Oct $ 4,982.60 $ 1,249.60 867 993.10 324.9 $ 156,500 $ 4,688.70 93.1 12-Nov $ 4,795.80 $ 1,314.70 850 1,047.30 379.1 $ 158,800 $ 4,063.30 85.8 12-Dec $ 4,876.00 $ 1,319.00 838 1,008.40 304.6 $ 162,800 $ 4,256.60 66.2 13-Jan $ 5,303.30 $ 1,270.20 821 1,018.10 319.4 $ 149,300 $ 4,675.00 73.1 13-Feb $ 4,898.70 $ 1,183.80 833 973.20 322.8 $ 157,100 $ 4,518.80 73.2 13-Mar $ 5,717.40 $ 1,307.40 833 933.70 283.7 $ 164,600 $ 4,431.60 74.8 13-Apr $ 5,607.90 $ 1,392.70 836 1,069.60 361.0 $ 171,800 $ 3,980.30 84.3 13-May $ 5,836.60 $ 1,459.20 838 1,035.80 341.6 $ 177,900 $ 4,777.60 91.6 13-Jun $ 5,645.00 841 1,081.50 353.3 $ 182,200 $ 4,901.50 69.7 13-Jul 841 1,059.20 333.6 $ 179,900 83.1 13-Aug 848 91.9

46

Population Growth Forecast: 2010–2030

0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 55% 60% 65%

AbileneWichita Falls

Beaumont-Port AurthurLubbock

San AngeloLongviewTexarkana

MidlandWacoTyler

OdessaU.S. Average

VictoriaAmarillo

Corpus ChristiKilleen-Temple-Ft. Hood

College Station-BryanTexas Average

Houston-Sugar Land-BaytownSan Antonio-New Braunfels

El PasoDallas-Fort Worth-Arlington

Brownsville-HarlingenSherman-Denison

Austin-Round Rock-San MarcosMcAllen-Edinburg-Mission

Laredo

From 2010 to 2030, the Texas population is expected grow by ~32% vs. ~21% for the total U.S. population____________________Source: U.S. Census Bureau and Texas A&M Real Estate Center.

47

Texas Employment by Industry (June 2012– June 2013)

Source: Texas A&M Real Estate Center

Construction

Leisure & H

ospitality

ProfessionalB

usiness Services

Mining &

Logging

Trade Education&

Health Services

Other Services

Financial Activities

Information

Governm

ent

Manufacturing

Transportation,W

arehousing,&

Utilities

-2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

3.8%

Texas Employment Growth

Information

Mining &

Logging

Other Services

Transportation,W

arehousing,&

Utilities

Construction

Financial Activities

Manufacturing

Leisure & H

ospitality

ProfessionalB

usiness Services

Education&

Health Services

Trade

Governm

ent

0.0%4.0%8.0%

12.0%16.0%20.0%

2.5%

Share of Employment in Texas

Oil & Gas Included

Oil & Gas Included

48

Cheniere has applied for permits to build an LNG plant on 660 acres in San Patricio County…worth in excess of $10 billion – Corpus Christi Caller Times

Pangea LNG (Daewoo and Statoil) is seeking federal approval for an LNG export facility….estimate a $5bn investment – Corpus Christi Caller Times 11/30/12Flint Hills announces $250 million plant expansion – KIII, Corpus Christi

Texas coast wins largest single manufacturing investment by a Chinese company in the U.S….a skilled work force and strategic location helped a Texas coastal city win a $1 billion pipe manufacturing facility – Texas Comptroller of Public Accounts

Best mid-sized cities for jobs….No. 2: Corpus Christi, TX – Forbes

China takes big role in Texas plant …$2.5bn power plant and chemical plant in Odessa – WSJ 9/13/12

Home sales are strong in the Woodlands, where Exxon Mobil is constructing a new corporate campus where 10,000 people will work – Culture Map: Houston

Exxon Mobil moves to expand chemical plant….the company joins other petrochemical producers, including Dow Chemical Co. and Chevron Phillips Chemical Co., that have announced natural gas-fueled expansion plans in the Houston area in recent months – Houston Chronicle

Recent Texas Headlines

Houston is expected to add the most households of any U.S. metropolitan area over the next five years. – Houston Business Journal 11/27/12

Area to see $28bn bonanza…investing est $28bn in Eagle Ford in 2013, 27% of industry’s 2013 capital investment in lower 48 states will go to the Eagle Ford – San Antonio Express News 12/9/12

Occidental Petroleum Corp. plans to build propane export facility in Ingleside….. Project expected to approach $1 billion and bring dozens of jobs to San Patricio County – Corpus Christi Caller Times 7/25/13

Houston area employers created 118,200 new jobs between Jan 2012 and Jan 2013…..a 4.5% year-over-year increase– Houston Chronicle 3/11/13

Quintana Corpus Christ Infrastructure, LLC developing mid-stream 50,000 barrel-per-day processing plant operating in 2016. – Caller Times 8/16/13

Tenaris announced on February 15, 2013 that it will build its first US seamless pipe mill in Bay City, Matagorda County, Texas… estimates investment of $1.5 million (USD).– Tenaris

49

http://www.window.state.tx.us/ http://www.texasahead.org/economy/tracking/ http://www.dallasfed.org/ http://texaseconomicdevelopmentguide.com/ http://recenter.tamu.edu/ http://texascenter.tamiu.edu/http://www.ccredc.com/ http://www.mcallenedc.org/ http://www.ldfonline.org/ http://www.midlandtxedc.com/ http://www.houston.org/ http://www.mywesttexas.com/business/

Partial List of Sources for Economic Data

50

Susser Holdings Corporation Reconciliation of Net Income to EBITDA, Adjusted EBITDA and Adjusted EBITDAR

December 31, 2006

December 30, 2007

December 28, 2008

January 3, 2010

January 2, 2011

January 1, 2012

December 30, 2012 July 1, 2012

June 30, 2013

(3,746)$ 16,252$ 16,477$ 2,068$ 786$ 47,457$ 46,725$ 53,104$ 12,944$

Net income attributable to noncontrolling interest 61 42 48 39 3 14 4,572 14 13,512 Depreciation, amortization and accretion 22,780 29,469 40,842 44,382 43,998 47,320 51,434 50,048 55,645 Interest expense, net 25,201 16,152 39,256 38,103 64,039 40,726 41,019 41,094 63,364 Income tax expense 48 (5,753) 10,396 1,805 4,994 26,347 33,645 29,675 17,370

EBITDA 44,344$ 56,162$ 107,019$ 86,397$ 113,820$ 161,864$ 177,395$ 173,935$ 162,835$ Non-cash stock-based compensation 803 2,429 3,946 3,433 2,825 3,588 4,337 4,491 4,280 Loss on disposal of assets - 190 9 2,402 3,193 1,220 694 (55) 1,787 Other miscellaneous expense (income) (452) (435) (278) 55 174 346 471 437 505

Adjusted EBITDA 45,286$ 58,346$ 110,696$ 92,287$ 120,012$ 167,018$ 182,897$ 178,808$ 169,407$

Rent 22,694 25,822 34,620 36,899 42,623 45,738 46,407 46,138 47,222 Adjusted EBITDAR 67,980$ 84,168$ 145,316$ 129,186$ 162,635$ 212,756$ 229,304$ 224,946$ 216,629$

Twelve Months Ended

Net income attributable to Susser Holdings Corporation

Fiscal Year Ended

51

Susser Holdings Corporation Reconciliation of Adjusted EBITDAR toFuel Neutral Adjusted EBITDAR

December 28, 2008

January 3, 2010

January 2, 2011

January 1, 2012

December 30, 2012

July 1, 2012

June 30, 2013

Adjusted EBITDAR, Actual 145,316$ 129,186$ 162,635$ 212,756$ 229,304$ 224,946$ 216,629$ Adjustments:CPG neutral adjustment - retail (1) 7,694 26,476 4,557 (23,784) (19,850) (23,529) (8,653) CPG neutral adjustment - wholesale (2) (3,996) 7,192 1,347 (2,093) (3,816) (2,437) (4,397) G&A bonus & 401k match adjustment (3) 3,787 1,077 8,558 9,927 9,617 9,669 5,578

Fuel Neutral Adjusted EBITDAR 152,801$ 163,931$ 177,097$ 196,806$ 215,255$ 208,648$ 209,157$

Percent change from prior period (4) 53% 7% 8% 11% 9% 0%

CPG adjustment - retail (2) 1.1¢ 3.7¢ 0.6¢ -3.0¢ -2.3¢ -2.9¢ -1.0¢CPG adjustment - wholesale (3) -0.8¢ 1.5¢ 0.3¢ -0.4¢ -0.6¢ -0.4¢ -0.7¢

Fiscal Year Ended Twelve Months Ended

(1) Normalizes retail CPG after credit cards at a 5 year rolling average of 14.7 cents and wholesale 3rd-party CPG at a 5-year rolling average of 5.5 cents.(2) Adjusted to eliminate impact of MLP structure on retail margin.(3) Excludes all G&A bonus and 401-K match, as these are partly based on results including actual fuel margins.(4) Calendar year periods compared to prior calendar year. Twelve-month period ended June 30, 2013 is compared to the twelve months ended July 1, 2012.

52

Susser Petroleum Partners Reconciliation of Net Income to EBITDA, Adjusted EBITDA and Distributable Cash Flow

June 30, June 30, June 30, June 30,

2012 2013 2012 2013Predecessor Predecessor

Net income 3,703$ 9,680$ 5,377$ 17,907$ Depreciation, amortization and accretion 1,892 1,837 3,776 3,658 Interest expense, net 92 766 180 1,449 Income tax expense 2,102 84 3,074 153

EBITDA 7,789 12,367 12,407 23,167 Non-cash stock based compensation 334 401 569 806 Loss on disposal of assets and impairment charge (75) 72 36 94 Other miscellaneous expense - - - -

Adjusted EBITDA 8,048$ 12,840$ 13,012 24,067 Cash interest expense 671 1,258 State franchise tax expense (cash) 72 141 Maintenance capital expenditures 190 326

Distributable cash flow 11,907$ 22,342$

(in thousands)

Three Months Ended Six Months Ended

(in thousands)