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

June 30, 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	$	—	$	9,595		$	476		$	—		$	10,077
Other current assets	100		—		305,676			12,178			(321		)	317,633
Total current assets	106		—		315,271			12,654			(321		)	327,710
Fixed assets, at cost	—		—		4,765,422			77,585			—			4,843,007
Less: Accumulated depreciation	—		—		(603,726		)	(25,467		)	—			(629,193		)
Net fixed assets	—		—		4,161,696			52,118			—			4,213,814
Goodwill	—		—		325,046			—			—			325,046
Other assets, net	16,060		—		384,724			130,265			(147,569		)	383,480
Advances to affiliates	2,507,192		—		—			81,991			(2,589,183		)	—
Equity investees	—		—		390,326			—			—			390,326
Investments in subsidiaries	2,698,899		—		80,505			—			(2,779,404		)	—
Total assets	$	5,222,257	$	—	$	5,657,568		$	277,028		$	(5,516,477	)	$	5,640,376
LIABILITIES AND PARTNERS’ CAPITAL
Current liabilities	$	35,300	$	—	$	187,009		$	15,040		$	(153	)	$	237,196
Senior secured credit facility	1,211,000		—		—			—			—			1,211,000
Senior unsecured notes	1,816,259		—		—			—			—			1,816,259
Deferred tax liabilities	—		—		26,249			—			—			26,249
Advances from affiliates	—		—		2,589,189			—			(2,589,189		)	—
Other liabilities	—		—		164,414			182,839			(147,418		)	199,835
Total liabilities	3,062,559		—		2,966,861			197,879			(2,736,760		)	3,490,539
Partners’ capital, common units	2,159,698		—		2,690,707			89,010			(2,779,717		)	2,159,698
Noncontrolling interests	—		—		—			(9,861		)	—			(9,861		)
Total liabilities and partners’ capital	$	5,222,257	$	—	$	5,657,568		$	277,028		$	(5,516,477	)	$	5,640,376

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 June 30, 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	$	—		$	—	$	77,638		$	—		$	—		$	77,638
Refinery services	—			—		42,995			2,089			(2,016		)	43,068
Marine transportation	—			—		53,202			—			—			53,202
Onshore facilities and transportation	—			—		228,291			4,524			—			232,815
Total revenues	—			—		402,126			6,613			(2,016		)	406,723
COSTS AND EXPENSES:
Onshore facilities and transportation	—			—		222,055			279			—			222,334
Marine transportation costs	—			—		38,949			—			—			38,949
Refinery services operating costs	—			—		26,586			2,036			(2,016		)	26,606
Offshore pipeline transportation operating costs	—			—		17,362			762			—			18,124
General and administrative	—			—		9,338			—			—			9,338
Depreciation and amortization	—			—		55,984			625			—			56,609
Gain on sale of assets	—			—		(26,684		)	—			—			(26,684		)
Total costs and expenses	—			—		343,590			3,702			(2,016		)	345,276
OPERATING INCOME	—			—		58,536			2,911			—			61,447
Equity in earnings of subsidiaries	71,691			—		(395		)	—			(71,296		)	—
Equity in earnings of equity investees	—			—		10,426			—			—			10,426
Interest (expense) income, net	(37,958		)	—		3,466			(3,498		)	—			(37,990		)
Income before income taxes	33,733			—		72,033			(587		)	(71,296		)	33,883
Income tax benefit (expense)	—			—		(303		)	—			—			(303		)
NET INCOME	33,733			—		71,730			(587		)	(71,296		)	33,580
Net loss attributable to noncontrolling interest	—			—		—			153			—			153
NET INCOME ATTRIBUTABLE TO GENESIS ENERGY, L.P.	$	33,733		$	—	$	71,730		$	(434	)	$	(71,296	)	$	33,733

Unaudited Condensed Consolidating Statement of Operations

Three Months Ended June 30 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	$	—		$	—	$	78,994					$	—		$	78,994
Refinery services	—			—		42,115			1,715			(2,506		)	41,324
Marine transportation	—			—		52,609			—			—			52,609
Onshore facilities and transportation	—			—		268,063			4,986			—			273,049
Total revenues	—			—		441,781			6,701			(2,506		)	445,976
COSTS AND EXPENSES:
Onshore facilities and transportation costs	—			—		251,840			280			—			252,120
Marine transportation costs	—			—		34,430			—			—			34,430
Refinery services operating costs	—			—		22,167			1,918			(2,506		)	21,579
Offshore pipeline transportation operating costs	—			—		22,044			632			—			22,676
General and administrative	—			—		11,283			—			—			11,283
Depreciation and amortization	—			—		55,275			625			—			55,900
Total costs and expenses	—			—		397,039			3,455			(2,506		)	397,988
OPERATING INCOME	—			—		44,742			3,246			—			47,988
Equity in earnings of subsidiaries	60,205			—		(156		)	—			(60,049		)	—
Equity in earnings of equity investees	—			—		12,157			—			—			12,157
Interest (expense) income, net	(35,508		)	—		3,632			(3,659		)	—			(35,535		)
Income before income taxes	24,697			—		60,375			(413		)	(60,049		)	24,610
Income tax expense	—			—		(1,097		)	88			—			(1,009		)
NET INCOME	24,697			—		59,278			(325		)	(60,049		)	23,601
Net loss attributable to noncontrolling interest	—			—		—			126			—			126
NET INCOME ATTRIBUTABLE TO GENESIS ENERGY, L.P.	$	24,697		$	—	$	59,278		$	(199	)	$	(60,049	)	$	23,727

Unaudited Condensed Consolidating Statement of Operations

Six Months Ended June 30, 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	$	—		$	—	$	162,766		$	—		$	—		$	162,766
Refinery services	—			—		88,029			3,899			(3,814		)	88,114
Marine transportation	—			—		103,504			—			—			103,504
Onshore facilities and transportation	—			—		458,361			9,469			—			467,830
Total revenues	—			—		812,660			13,368			(3,814		)	822,214
COSTS AND EXPENSES:
Onshore facilities and transportation costs	—			—		436,126			540			—			436,666
Marine transportation costs	—			—		76,191			—			—			76,191
Refinery services operating costs	—			—		53,739			4,045			(3,814		)	53,970
Offshore pipeline transportation operating costs	—			—		34,468			1,524			—			35,992
General and administrative	—			—		19,314			—			—			19,314
Depreciation and amortization	—			—		111,471			1,250			—			112,721
Gain on sale of assets	—			—		(26,684		)	—			—			(26,684		)
Total costs and expenses	—			—		704,625			7,359			(3,814		)	708,170
OPERATING INCOME	—			—		108,035			6,009			—			114,044
Equity in earnings of subsidiaries	135,500			—		(645		)	—			(134,855		)	—
Equity in earnings of equity investees	—			—		21,761			—			—			21,761
Interest (expense) income, net	(74,677		)	—		6,986			(7,038		)	—			(74,729		)
Income before income taxes	60,823			—		136,137			(1,029		)	(134,855		)	61,076
Income tax expense	—			—		(558		)	—			—			(558		)
NET INCOME	60,823			—		135,579			(1,029		)	(134,855		)	60,518
Net loss attributable to noncontrolling interest	—			—		—			305			—			305
NET INCOME ATTRIBUTABLE TO GENESIS ENERGY, L.P.	$	60,823		$	—	$	135,579		$	(724	)	$	(134,855	)	$	60,823

Unaudited Condensed Consolidating Statement of Operations

Six Months Ended June 30, 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	$	—		$	—	$	155,120					$	—		$	155,120
Refinery services	—			—		84,409			2,518			(3,067		)	83,860
Marine transportation	—			—		104,645			—			—			104,645
Onshore facilities and transportation	—			—		470,234			10,531			—			480,765
Total revenues	—			—		814,408			13,049			(3,067		)	824,390
COSTS AND EXPENSES:
Onshore facilities and transportation costs	—			—		439,313			576			—			439,889
Marine transportation costs	—			—		67,452			—			—			67,452
Refinery services operating costs	—			—		42,613			3,018			(3,067		)	42,564
Offshore pipeline transportation operating costs	—			—		39,349			1,261			—			40,610
General and administrative	—			—		23,504			—			—			23,504
Depreciation and amortization	—			—		101,285			1,250			—			102,535
Total costs and expenses	—			—		713,516			6,105			(3,067		)	716,554
OPERATING INCOME	—			—		100,892			6,944			—			107,836
Equity in earnings of subsidiaries	128,863			—		(78		)	—			(128,785		)	—
Equity in earnings of equity investees	—			—		22,874			—			—			22,874
Interest (expense) income, net	(69,833		)	—		7,266			(7,355		)	—			(69,922		)
Income before income taxes	59,030			—		130,954			(411		)	(128,785		)	60,788
Income tax (expense) benefit	—			—		(2,007		)	(3		)	—			(2,010		)
NET INCOME	59,030			—		128,947			(414		)	(128,785		)	58,778
Net loss attributable to noncontrolling interest	—			—		—			252			—			252
NET INCOME ATTRIBUTABLE TO GENESIS ENERGY, L.P.	$	59,030		$	—	$	128,947		$	(162	)	$	(128,785	)	$	59,030

Unaudited Condensed Consolidating Statement of Cash Flows

Six Months Ended June 30, 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	$	102,991		$	—	$	242,004		$	646		$	(161,687	)	$	183,954
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments to acquire fixed and intangible assets	—			—		(126,580		)	—			—			(126,580		)
Cash distributions received from equity investees - return of investment	—			—		10,323			—			—			10,323
Investments in equity investees	(140,537		)	—		—			—			140,537			—
Acquisitions	—			—		(759		)	—			—			(759		)
Intercompany transfers	143,738			—		—			—			(143,738		)	—
Repayments on loan to non-guarantor subsidiary	—			—		3,296			—			(3,296		)	—
Contributions in aid of construction costs	—			—		124			—			—			124
Proceeds from asset sales	—			—		38,237			—			—			38,237
Other, net	—			—		—			—			—			—
Net cash used in investing activities	3,201			—		(75,359		)	—			(6,497		)	(78,655		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on senior secured credit facility	410,700			—		—			—			—			410,700
Repayments on senior secured credit facility	(477,900		)	—		—			—			—			(477,900		)
Debt issuance costs	(7,536		)	—		—			—			—			(7,536		)
Intercompany transfers	—			—		(135,170		)	(8,568		)	143,738			—
Issuance of common units for cash, net	140,537			—		140,537			—			(140,537		)	140,537
Distributions to common unitholders	(171,993		)	—		(171,993		)	—			171,993			(171,993		)
Contributions from noncontrolling interest	—			—		—			725			—			725
Other, net	—			—		3,216			7,010			(7,010		)	3,216
Net cash used in financing activities	(106,192		)	—		(163,410		)	(833		)	168,184			(102,251		)
Net increase in cash and cash equivalents	—			—		3,235			(187		)	—			3,048
Cash and cash equivalents at beginning of period	6			—		6,360			663			—			7,029
Cash and cash equivalents at end of period	$	6		$	—	$	9,595		$	476		$	—		$	10,077

Unaudited Condensed Consolidating Statement of Cash Flows

Six Months Ended June 30, 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	$	80,297		$	—	$	154,169		$	4,918		$	(135,712	)	$	103,672
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments to acquire fixed and intangible assets	—			—		(247,416		)	—			—			(247,416		)
Cash distributions received from equity investees - return of investment	—			—		11,851			—			—			11,851
Investments in equity investees	—			—		(1,135		)	—			—			(1,135		)
Acquisitions	—			—		(25,394		)	—			—			(25,394		)
Intercompany transfers	(223,537		)	—		—			—			223,537			—
Repayments on loan to non-guarantor subsidiary	—			—		2,979			—			(2,979		)	—
Contributions in aid of construction costs	—			—		8,940			—			—			8,940
Proceeds from asset sales	—			—		3,183			—			—			3,183
Other, net	—			—		107			—			—			107
Net cash used in investing activities	(223,537		)	—		(246,885		)	—			220,558			(249,864		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on senior secured credit facility	631,900			—		—			—			—			631,900
Repayments on senior secured credit facility	(341,100		)	—		—			—			—			(341,100		)
Debt issuance costs	(1,539		)	—		—			—			—			(1,539		)
Intercompany transfers	—			—		236,775			(13,238		)	(223,537		)	—
Distributions to common unitholders	(146,021		)	—		(146,021		)	—			146,021			(146,021		)
Other, net	—			—		607			7,330			(7,330		)	607
Net cash provided by financing activities	143,240			—		91,361			(5,908		)	(84,846		)	143,847
Net decrease in cash and cash equivalents	—			—		(1,355		)	(990		)	—			(2,345		)
Cash and cash equivalents at beginning of period	6			—		8,288			2,601			—			10,895
Cash and cash equivalents at end of period	$	6		$	—	$	6,933		$	1,611		$	—		$	8,550