Condensed Consolidating Financial Information

Our $1.8 billion aggregate principal amount of senior unsecured notes co-issued by Genesis Energy, L.P. and Genesis Energy Finance Corporation are fully and unconditionally guaranteed jointly and severally by all of Genesis Energy, L.P.’s current and future 100% owned domestic subsidiaries, except Genesis Free State Pipeline, LLC, Genesis NEJD Pipeline, LLC and certain other minor subsidiaries. Genesis NEJD Pipeline, LLC is 100% owned by Genesis Energy, L.P., the parent company. The remaining non-guarantor subsidiaries are owned by Genesis Crude Oil, L.P., a guarantor subsidiary. Genesis Energy Finance Corporation has no independent assets or operations. See Note 7 for additional information regarding our consolidated debt obligations.

The following is condensed consolidating financial information for Genesis Energy, L.P., the guarantor subsidiaries and the non-guarantor subsidiaries.

Unaudited Condensed Consolidating Balance Sheet

March 31, 2017



	Genesis Energy, L.P. (Parent and Co-Issuer)		Genesis Energy Finance Corporation (Co-Issuer)		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Genesis Energy, L.P. Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	6	$	—	$	9,638		$	1,129		$	—		$	10,773
Other current assets	25		—		330,749			11,072			(51		)	341,795
Total current assets	31		—		340,387			12,201			(51		)	352,568
Fixed assets, at cost	—		—		4,736,459			77,585			—			4,814,044
Less: Accumulated depreciation	—		—		(566,433		)	(24,842		)	—			(591,275		)
Net fixed assets	—		—		4,170,026			52,743			—			4,222,769
Goodwill	—		—		325,046			—			—			325,046
Other assets, net	9,656		—		388,579			132,179			(144,072		)	386,342
Advances to affiliates	2,541,588		—		—			78,489			(2,620,077		)	—
Equity investees	—		—		399,466			—			—			399,466
Investments in subsidiaries	2,715,463		—		80,587			—			(2,796,050		)	—
Total assets	$	5,266,738	$	—	$	5,704,091		$	275,612		$	(5,560,250	)	$	5,686,191
LIABILITIES AND PARTNERS’ CAPITAL
Current liabilities	$	27,833	$	—	$	187,499		$	16,277		$	(155	)	$	231,454
Senior secured credit facility	1,210,000		—		—			—			—			1,210,000
Senior unsecured notes	1,814,712		—		—			—			—			1,814,712
Deferred tax liabilities	—		—		26,094			—			—			26,094
Advances from affiliates	—		—		2,620,077			—			(2,620,077		)	—
Other liabilities	—		—		163,761			180,328			(143,918		)	200,171
Total liabilities	3,052,545		—		2,997,431			196,605			(2,764,150		)	3,482,431
Partners’ capital, common units	2,214,193		—		2,706,660			89,440			(2,796,100		)	2,214,193
Noncontrolling interests	—		—		—			(10,433		)	—			(10,433		)
Total liabilities and partners’ capital	$	5,266,738	$	—	$	5,704,091		$	275,612		$	(5,560,250	)	$	5,686,191

Unaudited Condensed Consolidating Balance Sheet

December 31, 2016



	Genesis Energy, L.P. (Parent and Co-Issuer)		Genesis Energy Finance Corporation (Co-Issuer)		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Genesis Energy, L.P. Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	6	$	—	$	6,360		$	663		$	—		$	7,029
Other current assets	50		—		340,555			12,237			(302		)	352,540
Total current assets	56		—		346,915			12,900			(302		)	359,569
Fixed assets, at cost	—		—		4,685,811			77,585			—			4,763,396
Less: Accumulated depreciation	—		—		(524,315		)	(24,217		)	—			(548,532		)
Net fixed assets	—		—		4,161,496			53,368			—			4,214,864
Goodwill	—		—		325,046			—			—			325,046
Other assets, net	10,696		—		390,214			133,980			(140,533		)	394,357
Advances to affiliates	2,650,930		—		—			73,295			(2,724,225		)	—
Equity investees	—		—		408,756			—			—			408,756
Investments in subsidiaries	2,594,882		—		80,735			—			(2,675,617		)	—
Total assets	$	5,256,564	$	—	$	5,713,162		$	273,543		$	(5,540,677	)	$	5,702,592
LIABILITIES AND PARTNERS’ CAPITAL
Current liabilities	$	34,864	$	—	$	211,591		$	14,505		$	(157	)	$	260,803
Senior secured credit facility	1,278,200		—		—			—			—			1,278,200
Senior unsecured notes	1,813,169		—		—			—			—			1,813,169
Deferred tax liabilities	—		—		25,889			—			—			25,889
Advances from affiliates	—		—		2,724,224			—			(2,724,224		)	—
Other liabilities	—		—		165,266			179,592			(140,377		)	204,481
Total liabilities	3,126,233		—		3,126,970			194,097			(2,864,758		)	3,582,542
Partners’ capital, common units	2,130,331		—		2,586,192			89,727			(2,675,919		)	2,130,331
Noncontrolling interests	—		—		—			(10,281		)	—			(10,281		)
Total liabilities and partners’ capital	$	5,256,564	$	—	$	5,713,162		$	273,543		$	(5,540,677	)	$	5,702,592

Unaudited Condensed Consolidating Statement of Operations

Three Months Ended March 31, 2017



	Genesis Energy, L.P. (Parent and Co-Issuer)			Genesis Energy Finance Corporation (Co-Issuer)		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Genesis Energy, L.P. Consolidated
REVENUES:
Offshore pipeline transportation services	$	—		$	—	$	85,128		$	—		$	—		$	85,128
Refinery services	—			—		45,034			1,810			(1,798		)	45,046
Marine transportation	—			—		50,302			—			—			50,302
Supply and logistics	—			—		230,070			4,945			—			235,015
Total revenues	—			—		410,534			6,755			(1,798		)	415,491
COSTS AND EXPENSES:
Supply and logistics costs	—			—		214,071			261			—			214,332
Marine transportation costs	—			—		37,242			—			—			37,242
Refinery services operating costs	—			—		27,153			2,009			(1,798		)	27,364
Offshore pipeline transportation operating costs	—			—		17,106			762			—			17,868
General and administrative	—			—		9,976			—			—			9,976
Depreciation and amortization	—			—		55,487			625			—			56,112
Total costs and expenses	—			—		361,035			3,657			(1,798		)	362,894
OPERATING INCOME	—			—		49,499			3,098			—			52,597
Equity in earnings of subsidiaries	63,809			—		(250		)	—			(63,559		)	—
Equity in earnings of equity investees	—			—		11,335			—			—			11,335
Interest (expense) income, net	(36,719		)	—		3,520			(3,540		)	—			(36,739		)
Income before income taxes	27,090			—		64,104			(442		)	(63,559		)	27,193
Income tax expense	—			—		(255		)	—			—			(255		)
NET INCOME	27,090			—		63,849			(442		)	(63,559		)	26,938
Net loss attributable to noncontrolling interest	—			—		—			152			—			152
NET INCOME ATTRIBUTABLE TO GENESIS ENERGY, L.P.	$	27,090		$	—	$	63,849		$	(290	)	$	(63,559	)	$	27,090

Unaudited Condensed Consolidating Statement of Operations

Three Months Ended March 31, 2016



	Genesis Energy, L.P. (Parent and Co-Issuer)			Genesis Energy Finance Corporation (Co-Issuer)		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Genesis Energy, L.P. Consolidated
REVENUES:
Offshore pipeline transportation services	$	—		$	—	$	76,126					$	—		$	76,126
Refinery services	—			—		42,294			803			(561		)	42,536
Marine transportation	—			—		52,036			—			—			52,036
Supply and logistics	—			—		202,171			5,545			—			207,716
Total revenues	—			—		372,627			6,348			(561		)	378,414
COSTS AND EXPENSES:
Supply and logistics costs	—			—		187,473			296			—			187,769
Marine transportation costs	—			—		33,022			—			—			33,022
Refinery services operating costs	—			—		20,446			1,100			(561		)	20,985
Offshore pipeline transportation operating costs	—			—		17,305			629			—			17,934
General and administrative	—			—		12,221			—			—			12,221
Depreciation and amortization	—			—		46,010			625			—			46,635
Total costs and expenses	—			—		316,477			2,650			(561		)	318,566
OPERATING INCOME	—			—		56,150			3,698			—			59,848
Equity in earnings of subsidiaries	68,658			—		78			—			(68,736		)	—
Equity in earnings of equity investees	—			—		10,717			—			—			10,717
Gain on basis step up on historical interest	—			—		—			—			—			—
Interest (expense) income, net	(34,325		)	—		3,634			(3,696		)	—			(34,387		)
Other income/(expense), net	—			—		—			—			—			—
Income before income taxes	34,333			—		70,579			2			(68,736		)	36,178
Income tax (expense) benefit	—			—		(910		)	(91		)	—			(1,001		)
NET INCOME	34,333			—		69,669			(89		)	(68,736		)	35,177
Net loss attributable to noncontrolling interest	—			—		—			126			—			126
NET INCOME ATTRIBUTABLE TO GENESIS ENERGY, L.P.	$	34,333		$	—	$	69,669		$	37		$	(68,736	)	$	35,303

Unaudited Condensed Consolidating Statement of Cash Flows

Three Months Ended March 31, 2017



	Genesis Energy, L.P. (Parent and Co-Issuer)			Genesis Energy Finance Corporation (Co-Issuer)		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Genesis Energy, L.P. Consolidated
Net cash provided by operating activities	$	42,623		$	—	$	98,588		$	2,007		$	(78,613	)	$	64,605
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments to acquire fixed and intangible assets	—			—		(61,292		)	—			—			(61,292		)
Cash distributions received from equity investees - return of investment	—			—		5,518			—			—			5,518
Investments in equity investees	(140,968		)	—		—			—			140,968			—
Acquisitions	—			—		—			—			—			—
Intercompany transfers	109,342			—		—			—			(109,342		)	—
Repayments on loan to non-guarantor subsidiary	—			—		1,627			—			(1,627		)	—
Contributions in aid of construction costs	—			—		124			—			—			124
Proceeds from asset sales	—			—		1,234			—			—			1,234
Other, net	—			—		—			—			—			—
Net cash used in investing activities	(31,626		)	—		(52,789		)	—			29,999			(54,416		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on senior secured credit facility	216,700			—		—			—			—			216,700
Repayments on senior secured credit facility	(284,900		)	—		—			—			—			(284,900		)
Debt issuance costs	—			—		—			—			—			—
Intercompany transfers	—			—		(104,276		)	(5,066		)	109,342			—
Issuance of common units for cash, net	140,968			—		140,968			—			(140,968		)	140,968
Distributions to partners/owners	(83,765		)	—		(83,765		)	—			83,765			(83,765		)
Distributions to noncontrolling interest	—			—		—			—			—			—
Other, net	—			—		4,552			3,525			(3,525		)	4,552
Net cash provided by financing activities	(10,997		)	—		(42,521		)	(1,541		)	48,614			(6,445		)
Net increase in cash and cash equivalents	—			—		3,278			466			—			3,744
Cash and cash equivalents at beginning of period	6			—		6,360			663			—			7,029
Cash and cash equivalents at end of period	$	6		$	—	$	9,638		$	1,129		$	—		$	10,773

Unaudited Condensed Consolidating Statement of Cash Flows

Three Months Ended March 31, 2016



	Genesis Energy, L.P. (Parent and Co-Issuer)			Genesis Energy Finance Corporation (Co-Issuer)		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Genesis Energy, L.P. Consolidated
Net cash provided by operating activities	$	33,558		$	—	$	70,795		$	3,661		$	(66,908	)	$	41,106
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments to acquire fixed and intangible assets	—			—		(118,252		)	—			—			(118,252		)
Cash distributions received from equity investees - return of investment	—			—		5,788			—			—			5,788
Investments in equity investees	—			—		(1,135		)	—			—			(1,135		)
Acquisitions	—			—		(25,394		)	—			—			(25,394		)
Intercompany transfers	(126,471		)	—		—			—			126,471			—
Repayments on loan to non-guarantor subsidiary	—			—		1,471			—			(1,471		)	—
Contributions in aid of construction costs	—			—		4,088			—			—			4,088
Proceeds from asset sales	—			—		224			—			—			224
Other, net	—			—		130			—			—			130
Net cash used in investing activities	(126,471		)	—		(133,080		)	—			125,000			(134,551		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on senior secured credit facility	319,400			—		—			—			—			319,400
Repayments on senior secured credit facility	(154,400		)	—		—			—			—			(154,400		)
Proceeds from issuance of senior unsecured notes	—			—		—			—			—			—
Repayment of senior unsecured notes	—			—		—			—			—			—
Debt issuance costs	—			—		—			—			—			—
Intercompany transfers	—			—		133,203			(6,733		)	(126,470		)	—
Issuance of common units for cash, net	—			—		—			—			—			—
Distributions to partners/owners	(72,087		)	—		(72,087		)	—			72,087			(72,087		)
Distributions to noncontrolling interest	—			—		—			—			—			—
Other, net	—			—		1,948			3,709			(3,709		)	1,948
Net cash provided by financing activities	92,913			—		63,064			(3,024		)	(58,092		)	94,861
Net (decrease) increase in cash and cash equivalents	—			—		779			637			—			1,416
Cash and cash equivalents at beginning of period	6			—		8,288			2,601			—			10,895
Cash and cash equivalents at end of period	$	6		$	—	$	9,067		$	3,238		$	—		$	12,311