Investor and Analyst Day November 12, 2014

Forward-Looking Statements

This presentation contains certain statements that may be deemed to be forward-looking

statements within the meaning of the Securities Acts. All statements, other than statements of

historical facts, that address activities, events or developments that the Partnership expects,

projects, believes or anticipates will or may occur in the future, including, without limitation, the

outlook for population growth and death rates, general industry conditions including future

operating results of the Partnership’s properties, capital expenditures, asset sales, expansion and

growth opportunities, bank borrowings, financing activities and other such matters, are forward-

looking statements. Although the Partnership believes that its expectations stated in this

presentation are based on reasonable assumptions, actual results may differ from those projected in

the forward-looking statements. When considering forward-looking statements, the reader should

keep in mind the risk factors and other cautionary statements set forth in StoneMor’s Annual Report

on Form 10-K and Quarterly Reports filed with the Securities and Exchange Commission. Except as

required under applicable law, StoneMor assumes no obligation to update or revise any forward-

looking statements made herein or any other forward-looking statements made by StoneMor,

whether as a result of new information, future events, or otherwise.

2

Management Team Representatives

3

Name Title

Larry Miller Chairman, President and Chief Executive Officer

Tim Yost Chief Financial Officer

John McNamara Director of Investor Relations

Agenda

4

Topic Presenter

Who We Are Larry Miller

Industry Dynamics Larry Miller

Growth Strategy Larry Miller

Financial Strategy Tim Yost

Financial Performance Tim Yost

Q&A

Who We Are

Larry Miller President & CEO

StoneMor At-a-Glance

6

Second largest owner and operator of cemeteries in the U.S.

303 cemeteries / 98 funeral homes, located across 28 states and Puerto Rico

Complete range of funeral merchandise and services, along with cemetery property, merchandise and services, both at the time of need and on a pre-need basis

Over 12,490 acres of land, as of December 30, 2013, equivalent to a weighted average sales life of 240 years

45,470 burials performed in 2013

$841 million in Merchandise and Perpetual Care Trusts as of September 30, 2014

We are the only deathcare company structured as a master limited partnership (MLP)

Business Overview

7

A full suite of memorialization products and services

– 100,000+ pre-need and at-need contracts written in 2013

• Average contract value of $2,600

– 12,500+ funeral “calls” in 2013

• Average per call value of $4,000

Burial Lots Funeral Services

Grave Opening & Closing Cremation

Mausoleums Burial Vaults

Caskets Grave Markers

Lawn Crypts Memorials

Our Evolution

8

Metric 2004 (IPO)(1) 2014(2)

Operational Data

Cemeteries / Funeral Homes 132 / 7 303 / 98

Employees ~1,100 ~3,400

Annual Interments ~22,000 ~45,000

Funeral Service Calls 650 12,535

Financial Data

Production-Based Revenue $89 million $350 million

Adj. Operating Profit $29 million $71 million

Distribution per Unit $1.85 $2.43

Market Cap $175 million $761 million

(1) Represents data as of 12/31/2004 or for the twelve month period ended 12/31/2004, as applicable. (2) Represents data as of 9/30/2014 or for the twelve month period ended 9/30/2014, as applicable.

Our Footprint in 2004

9

WA

OR

CA CO

KS

IA

IL

MO

AR

IN

MI

OH

PA

WV

KY

TN

VA

NC

SC

GA AL MS

FL

Ohio 2 Cemeteries 1 Funeral Home

Rhode Island 2 Cemeteries

Pennsylvania 44 Cemeteries 2 Funeral Homes

New Jersey 6 Cemeteries

Delaware 1 Cemetery

Maryland 10 Cemeteries 1 Funeral Home

West Virginia 32 Cemeteries

Virginia 29 Cemeteries 2 Funeral Homes

Georgia 1 Cemetery

Tennessee 3 Cemeteries

Alabama 1 Cemetery 1 Funeral Home

GA AL

TN

VA WV

PA

OH

132 Cemeteries

+ 7 Funeral Homes

= 139 Total Locations

As of December 31, 2004

Strong regional presence at the time of our IPO

Our Footprint Today

10

Significantly enhanced geographic scale and diversity

303 Cemeteries

+98 Funeral Homes

= 401 Total Locations

WA

OR

CA CO

KS

IA

IL

MO

AR

IN

MI

OH

PA

WV

KY

TN

VA

NC

SC

GA AL MS

FL

Washington 3 Cemeteries 2 Funeral Homes

Oregon 6 Cemeteries 12 Funeral Homes

California 6 Cemeteries 9 Funeral Homes

Colorado 2 Cemeteries

Kansas 3 Cemeteries 2 Funeral Homes

Hawaii 1 Cemetery

Iowa 1 Cemetery

Illinois 8 Cemeteries 22Funeral Homes

Indiana 11 Cemeteries 5 Funeral Homes Michigan

13 Cemeteries

Kentucky 2 Cemeteries

Ohio 14 Cemeteries 2 Funeral Homes

Rhode Island

2 Cemeteries

Pennsylvania 52 Cemeteries 8 Funeral Homes

New Jersey 6 Cemeteries

Delaware 1 Cemetery

Maryland 10 Cemeteries 1 Funeral Home

West Virginia 33 Cemeteries 2 Funeral Homes

Virginia 31 Cemeteries 2 Funeral Homes

North Carolina 16 Cemeteries South Carolina

8 Cemeteries 3 Funeral Homes

Puerto Rico 7 Cemeteries 5 Funeral Homes

Georgia 7 Cemeteries

Florida 4 Cemeteries 17 Funeral Homes

Tennessee 11 Cemeteries 5 Funeral Homes

Alabama 9 Cemeteries 6 Funeral Homes

Mississippi 2 Cemeteries 1 Funeral Home

Arkansas 2 Funeral Homes

Missouri 6 Cemeteries 5 Funeral Homes

As of September 30, 2014

Diversified Revenue Streams

11

• More than 60% of revenues generated through highly predictable and at-need business

• StoneMor’s 800+ person sales team creates an unparalleled advantage in pre-need sales

Pre-need Sales, 37.0%

At-need Sales, 30.6%

Investment Income, 9.9%

Interest Income, 2.8%

Funeral Home Revenues,

18.2%

Other Cemetery

Revenues, 1.5%

Year ended December 31, 2013

BUSINESS MIX BY REVENUE STREAM

12

Pennsylvania 12.7%

California 8.8%

Ohio 8.1%

Virginia 6.7%

New Jersey 6.3%

Michigan 6.2%

Maryland 5.7%

West Virginia 5.1%

North Carolina 4.8%

Florida 4.3%

Alabama 3.8%

Puerto Rico 3.1%

Oregon 2.9%

Indiana 2.7%

Other States 18.8%

• Only one state represents more than 10% of sales

Geographic Diversity by State

Year ended December 31, 2013

REVENUE BY STATE

Mission-Driven Strategy

13

Mission

Vision

Strategy

To help families memorialize every life with dignity.

To be the preferred operator of deathcare facilities and preferred provider of deathcare services.

To use an aggressive, yet conservatively financed acquisition strategy to build market share. Leverage these positions to expand service offerings.

A Transformational 2014 for StoneMor

14

February May June July August October

Priced $53mm equity offering

Proceeds used to de-lever Transaction upsized due to strong

investor demand

$130mm equity commitment from private investment firm, American Infrastructure MLP Funds ("AIM“)

Capitalization of general partner ~$50mm available for future

acquisition opportunities Priced $67mm equity offering

Proceeds used to fund SCI acquisition and de-lever

Closing of AOP Transaction ($53mm)

Financed with four-year non-cash common units issued to AIM

Opportunities for other Archdioceses

Closing of SCI Acquisition ($54mm)

Immediately accretive Financed with proceeds from May

equity offering

Increased Distribution to $0.61/unit

$0.01 increase from $0.60 Announced intention to increase quarterly

distributions by at least $0.01/unit each quarter through 2015

Announced 2Q 2014 Results

Reaffirmed intent to increase quarterly distribution at least $0.01/unit through the end of 2015

Increased Distribution to $0.62/unit

$0.01 increase from $0.61 2nd consecutive quarterly distribution

increase

1

2

3

4

5

6

7

8

A number of strategic transactions in 2014 mark an exciting inflection point in our growth

15

Stable and Growing Cash Flow

Key Attributes of High-Performing MLPs StoneMor?

Long-lived, Secure Assets

Defensible Competitive Advantage

Attractive Industry Fundamentals

Conservative Financial Profile

StoneMor features the key attributes of high-performing MLPs as well as an attractive total return profile

StoneMor Value Proposition in Context

Industry Dynamics

Larry Miller President & CEO

Industry Snapshot

17

We are a leader in an industry with great opportunity

Aging population driving both at-need and pre-need demand

$22 billion industry

Healthy historical and projected growth

80% of properties are owned by independents

Only a few scale players

No new supply

Significant financial and operating regulations

Favorable Demographics

Large and Growing Market

Fragmented Ownership

Substantial Barriers to Entry

Demographic Tailwinds

18

Source: Department of Health and Human Services.

ANNUAL BIRTHS IN THE U.S. (1930-1960)

Aging of the Baby Boom Generation will:

1. Accelerate the death rate at-need sales

2. Expand our target pre-need market (55 to 65 age range)

− More financially stable and resilient to economic downturns

− Beginning to think of legacy

Source: U.S. Department of Commerce Census Bureau.

PROJECTED U.S. POPULATION OVER 55

87

98 106

112 118

130

2015 2020 2025 2030 2035 2040

(in millions)

1.5

2.0

2.5

3.0

3.5

4.0

4.5

(in millions)

Cemeteries, 10,500, 27%

Funeral Homes &

Crematories 22,000,

73%

$16 billion

$6 billion

Source: National Funeral Directors Association. Source: National Funeral Directors Association; U.S. Census Bureau.

$22 Billion Market

DEATH CARE MARKET SIZE

19

Large and Growing Industry

CONTINUED GROWTH

2.1

2.4

2.6

3.3

1990 2000 2010 2030P

Deaths in the U.S. (millions)

Industry growth driven by demographics and supported by ever-

present demand for memorialization and celebrations of life

20

Cremation projected to rise to >50% of total deaths in the U.S. by 2020

– Well established trend presents a slight headwind for traditional cemetery burials

However, also represents a key component of our growth strategy

– Western society still memorializes life regardless of the method of disposition

0%

10%

20%

30%

40%

50%

60%

70%

80%

1995 2000 2005 2010 2015 2020 2025

Cremation as a Percentage of Total Deaths

RISE IN CREMATION…

Stronger linkage between cremation and

memorialization options

− Cremation gardens

− Cremation related products and services

Increased land utilization

Higher profit margins

Cremation: Friend (not Foe)

Source: National Funeral Directors Association.

…CREATES OPPORTUNITY

21

Highly Fragmented Ownership

LARGEST PUBLIC CEMETERY OPERATORS

As the only cemetery-focused scale player, we are uniquely well-positioned to execute

on our consolidation strategy

Source: SEC company filings; National Funeral Directors Association. Source: Raymond James Research & National Association of Funeral Directors. (1) Includes non-public consolidators.

OWNERSHIP BREAKDOWN

Owned by Consolidators,

20% (1)

Independent

Operators, 80%

Ownership of deathcare facilities is highly fragmented

− Majority of cemetery owners are non-economic in nature (e.g. religious or municipal)

Cemeteries Funeral Homes Ratio

SCI 489 1,614 1 : 3.3

StoneMor 303 98 3 : 1

Carriage 32 167 1 : 5

22

Substantial Barriers to Entry

Scarcity and cost of real estate near densely populated areas

Zoning restrictions

Initial capital requirements

Strength of family tradition and heritage

Administratively complex business for new entrants

CEMETERY BARRIERS

FUNERAL HOME BARRIERS

Licensing requirements

Funeral homes are part of the community

Strength of family tradition and heritage

Only an experienced, well-capitalized acquirer like StoneMor can gain share in this industry

Growth Strategy

Larry Miller President & CEO

Our Acquisition Approach

24

Disciplined target selection – “never break the model”

Strategic locations to create and / or enhance market clusters

Cemetery

− 25+ year sales life

− 200+ annual interments

Seasoned, professional management

Consolidate office functions into home office

Institute pre-need sales program

Leverage buying power to reduce product costs

Professional trust fund management

Philosophy

Target Criteria

Integration

Funeral

− 150+ Annual Calls

− Strong legacy

Accretive from day one

IRR > cost of capital

Proven Acquisition Track Record

25

175 cemeteries and 100 funeral homes acquired since 2004 IPO(1)

– Record year in 2014

Target acquisition multiples of 4x – 6x EBITDA – Every cemetery acquisition has met or exceeded plan

$16 $33

$115 $117 $124

$173 $189

$224 $247

$354

$0

$100

$200

$300

$400

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 YTD

ACQUISITIONS SINCE IPO (CUMULATIVE PURCHASE PRICE)

# Cemeteries: # Funeral Homes:

($ in millions)

23 6

46 20

94 50

101 52

104 52

126 57

143 68

148 85

149 91

175 100

(1) Net of sales and divestitures, 171 cemeteries and 92 funeral homes acquired since 2004 IPO.

$107mm of acquisitions YTD; Historical average of $27mm annually since IPO

Key Stats 13 cemeteries leased

60-year management agreement

7,000 existing burials per year

Rationale Strengthen market position in Philadelphia backyard

Introduce pre-need sales to large and growing population

Upside from optimizing productivity of land

Significant opportunities for other Archdioceses

2014 Acquisition Highlights: Archdiocese of Philadelphia

Closed in May 2014 with $53 million initial lease payment

26

Key Stats 12 cemeteries, 9 funeral homes

1,140 acres of land; FL, NC, PA, VA

3,500 annual interments

1,900 annual funeral home calls

Rationale Improve footprint in attractive markets

Upside from implementation of pre-need sales

Significant administrative synergies

$54 million acquisition closed in June 2014

2014 Acquisition Highlights: Service Corporation International

27

2014 acquisitions have fortified our position across the entire metro area

2014 Acquisition Highlights: Philadelphia Market Penetration

Source: Google Maps.

AOP

AOP AOP

AOP

AOP

AOP

AOP

AOP

AOP

AOP

AOP

AOP

AOP

SCI SCI

SCI

28

Organic Growth Initiatives

29

Continuous organic growth efforts support our acquisition strategy

SALES FORCE GROWTH

Effective sales force management

Thorough training in consultative pre-need sales

EXPANDED PRODUCT/SERVICE OFFERINGS

MARKETING AND CONSUMER REACH

OPTIMIZE REAL ESTATE PRODUCTIVITY

Building up

310

834

2004 2013

Commissioned Salespeople

Cremation gardens

Financial Strategy

Tim Yost CFO

31

We Are The Only Deathcare MLP

MLP Overview

Qualification Parameters

We use MLP status to conservatively unlock value

Our Competitive Advantage

We make distributions to unitholders on a quarterly basis

Qualifying income generated primarily from the sale of real property

− Non-qualifying activities operated through taxable subsidiaries

MLP status reviewed by IRS and confirmed in recent audit

Category Qualifying Non-Qualifying

Interment Rights Burial lots Lawn and mausoleum crypts Cremation niches Perpetual care rights

N/A

Merchandise Burial Vaults Caskets Grave markers

Services / Other Vault installation Casket and other installations

Other Interest and dividends Funeral home sales

Patent pending for the application of the MLP structure to the

cemetery business

32

MLP Rationale

Highly secure assets generating reliable, predictable cash flow

OPERATIONAL ASSETS FINANCIAL ASSETS

Perfect match of long-term operating and financial assets

Long-lived operating real estate assets

Over $341 mm of cemetery property (book value)

12,000 acres of land; average sales life of 240 years

Long-lived capital market assets

Over $840mm in perpetual and merchandise trusts

3rd party mgmt, income/preservation of capital

$349

$492

$0

$100

$200

$300

$400

$500

$600

Perpetual Trusts Merchandise Trusts

Trust Fund Assets ($ in millions)

33

Growth Through

Disciplined Acquisition

Underwriting

Prudent Balance Sheet Management

Deliver Reliable,

Consistent Value to

Unitholders

We have delivered steady, conservatively financed growth

Transformational 2014 is an inflection point toward future growth

Avg. $27mm annual acquisitions (’05-’13)

Target 4x – 6x EBITDA purchase prices

Every cemetery acquisition has met or exceeded plan

$1.90 $1.93 $2.03 $2.12 $2.22 $2.23 $2.33 $2.35 $2.39 $2.43

2005 2006 2007 2008 2009 2010 2011 2012 2013 TTM

Distributions / LP Unit

Proven Track Record

Keys to Our Success

Recent Developments

56%

43% 33% 32%

40% 36% 27%

12/08 12/09 12/10 12/11 12/12 12/13 9/14

Debt / Enterprise Value

2014 acquisitions ~4x average annual pace

AOP and SCI properties operating on plan

Well capitalized GP with AIM’s investment

2 equity raises ($120mm) to de-lever

Refinance senior notes to lower cost of debt

Distributions expected to grow by $0.01 per unit each quarter through the end of 2015

Coverage has consistently been >1.2x

34

Transformative Event – AIM Investment

$130 million equity commitment from American Infrastructure MLP Funds (AIM)

– $55 million used for purchase of Archdiocese of Philadelphia properties

• Four-year non-cash common units (matches property cash flow)

– Acquisition of an indirect majority interest in our general partner

– ~$50 million available for future acquisition opportunities

Capitalization of general partner facilitates growth

– Aligns us with well-capitalized MLP sector expert

– Provides capital base at the GP to access nascent assets (e.g. AOP) that have working capital needs

• Acquisitions can later be dropped down to the MLP

Financial Performance

Tim Yost CFO

36

Strong Recent Results

PRODUCTION-BASED REVENUE

($ in millions)

ADJUSTED OPERATING PROFIT

($ in millions)

DISTRIBUTABLE FCF

($ in millions)

We deliver reliable, predictable yield with accelerating growth

We focus on three financial metrics – Production-Based Revenue: total value of contracts written, investment and other income

– Adjusted Operating Profit: normalizes timing-related differences between GAAP and accrual

– Distributable Free Cash Flow: indicator of our ability to pay distributions to our unitholders

$296

$327

$240

$264

$0

$50

$100

$150

$200

$250

$300

$350

2012 2013 Q3'13YTD

Q3'14YTD

$54

$67

$47 $50

$0

$10

$20

$30

$40

$50

$60

$70

$80

2012 2013 Q3'13YTD

Q3'14YTD

$53

$76

$57

$50

$0

$10

$20

$30

$40

$50

$60

$70

$80

2012 2013 Q3'13YTD*

Q3'14YTD

*Includes $11.9 million one-time gain from legal settlement

($ in millions) ($ in millions)

REVENUE OPERATING PROFIT

37

Historical Performance

Steady growth as we have built the business through acquisitions and

pre-need sales efforts

GAAP results not indicative of true financial performance

$13

$3

$10

$14

$6

$13

$36 $38

$49

$54

$67 $71

2009 2010 2011 2012 2013 Q3'14TTM

GAAP Old GAAP

$181 $197

$228 $243 $246

$277

$218

$247

$281 $296

$327

$350

2009 2010 2011 2012 2013 Q3'14TTM

GAAP Old GAAP

38

Strong and Growing Asset Base

Asset base has grown while leverage has remained steady

TOTAL ASSETS AND DEBT

($ in millions)

$738

$855

$1,146

$1,249 $1,344

$1,474

$1,709

$161 $183 $220 $195

$255 $292 $270

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

2008 2009 2010 2011 2012 2013 Q3'14

Total Assets Total Debt

Low-Risk Balance Sheet

39

$656

$191

$41

$154

$270

$0

$100

$200

$300

$400

$500

$600

$700

Cash, AR andMerchandise Trust

AP and AccruedLiabilities

Merchandise Liability Debt Excess Cash and Assets

NET LIQUID ASSETS

($ in millions)

Marketable assets provide full debt protection

Significant additional value from long-term assets

− Cemetery Property

• Approximately 12,490 acres, weighted average sales life of over 240 years

• $341 million book value as of September 30, 2014

− Perpetual Care Trusts

• Fund future maintenance costs

• Assets of $349 million as of September 30, 2014

40

Substantial Distribution Coverage

History of sustained distributions and significant coverage

($ in millions)

ADJUSTED OPERATING PROFIT AND DISTRIBUTIONS

$36 $38

$49

$54

$67 $71

$27

$32

$45 $47

$51

$59

$13

$3

$10 $14

$6

$13

$0

$10

$20

$30

$40

$50

$60

$70

$80

2009 2010 2011 2012 2013 Q3'14 TTM

Adjusted Operating Profit Distributions GAAP Operating Profit

Average distribution coverage = 1.23x

41

Continued Growth

3 distribution increases in the last 2 years (including last two quarters)

2-year distribution growth in line with other MLP sectors

– Per Company guidance, distributions are expected to grow by $0.01 per quarter

through 2015

$1.90 $1.93

$2.03 $2.12

$2.22 $2.23 $2.33 $2.35 $2.39

$2.52

$2.68

$1.00

$1.20

$1.40

$1.60

$1.80

$2.00

$2.20

$2.40

$2.60

$2.80

2005 2006 2007 2008 2009 2010 2011 2012 2013 Q4'14EAnn.

Q4'15EAnn.

DISTRIBUTIONS PER LP UNIT

STONEMOR YIELD vs. BENCHMARK ASSET CLASSES

42

Compelling Investment Characteristics

Transformational 2014 has reduced risk in our business

− Well-capitalized general partner, an enhanced growth profile and reduced leverage

However, STON units still offer an attractive yield relative to the broader MLP index and other asset classes

9.6%

5.6%

3.7% 3.4%

2.3% 2.0%

0%

2%

4%

6%

8%

10%

StoneMor Alerian MLP Index MSCI US REITIndex

PHLX Utility SectorIndex

US 10-YearTreasury

S&P 500

Source: Bloomberg and Index monthly reports. Market data as of 11/7/2014.

Yield Spread: 4.0% 5.9% 6.2% 7.3% 7.6%

Current Yield (%)

Recap – StoneMor Investment Thesis

43

Key Attributes of High-Performing MLPs

StoneMor?

StoneMor Investment Thesis

StoneMor features the key attributes of high-performing MLPs as well as an attractive total return profile

Conservative Financial

Profile

Attractive Industry

Fundamentals

Defensible Competitive Advantage

Long-lived, Secure Assets

Stable and Growing

Cash Flow

Highly predictable, non-cyclical business model

40 consecutive quarterly distributions

Proven track record of accretive acquisitions

$340mm+ of cemetery property (book value)

12,000 acres of land; avg. sales life of 240 years

$841mm+ in perpetual & merchandise trusts

Scale to create leveraged market positions

Cemetery / pre-need expertise drives organic growth

MLP facilitates acquisition growth

Demographic tailwinds

Large, growing and fragmented market

Prohibitive barriers to entry

Significant, growing asset base with modest leverage

Well-capitalized general partner

Discipline in returning capital to unitholders

Thank You