Condensed Consolidating Financial Information

Our $2.4 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 8 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

September 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	$	—	$	8,960		$	728		$	—		$	9,694
Other current assets	75		—		569,457			11,836			(238		)	581,130
Total current assets	81		—		578,417			12,564			(238		)	590,824
Fixed assets, at cost	—		—		5,444,707			77,585			—			5,522,292
Less: Accumulated depreciation	—		—		(655,808		)	(26,092		)	—			(681,900		)
Net fixed assets	—		—		4,788,899			51,493			—			4,840,392
Mineral Leaseholds	—		—		622,756			—			—			622,756
Goodwill	—		—		325,046			—			—			325,046
Other assets, net	15,229		—		382,916			128,306			(151,026		)	375,425
Advances to affiliates	3,889,517		—		—			82,479			(3,971,996		)	—
Equity investees	—		—		383,191			—			—			383,191
Investments in subsidiaries	2,666,281		—		81,135			—			(2,747,416		)	—
Total assets	$	6,571,108	$	—	$	7,162,360		$	274,842		$	(6,870,676	)	$	7,137,634
LIABILITIES AND CAPITAL
Current liabilities	$	34,731	$	—	$	321,339		$	8,092		$	(151	)	$	364,011
Senior secured credit facility	1,372,500		—		—			—			—			1,372,500
Senior unsecured notes	2,358,049		—		—			—			—			2,358,049
Deferred tax liabilities	—		—		26,399			—			—			26,399
Advances from affiliates	—		—		3,971,992			—			(3,971,992		)	—
Other liabilities	36,727		—		183,552			187,057			(150,874		)	256,462
Total liabilities	3,802,007		—		4,503,282			195,149			(4,123,017		)	4,377,421
Mezzanine Capital:
Series A Convertible Preferred Units	691,708		—		—			—			—			691,708
Partners’ capital, common units	2,077,393		—		2,659,078			88,581			(2,747,659		)	2,077,393
Noncontrolling interests	—		—		—			(8,888		)	—			(8,888		)
Total liabilities, mezzanine capital and partners’ capital	$	6,571,108	$	—	$	7,162,360		$	274,842		$	(6,870,676	)	$	7,137,634

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
Mineral Leaseholds	—		—		—			—			—			—
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 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
Mezzanine Capital:
Series A Convertible Preferred Units	—		—		—			—			—			—
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, mezzanine capital 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 September 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	$	—		$	—	$	80,671		$	—		$	—		$	80,671
Sodium minerals and sulfur services	—			—		109,292			2,069			(1,596		)	109,765
Marine transportation	—			—		48,534			—			—			48,534
Onshore facilities and transportation	—			—		242,547			4,597			—			247,144
Total revenues	—			—		481,044			6,666			(1,596		)	486,114
COSTS AND EXPENSES:
Onshore facilities and transportation	—			—		225,716			313			—			226,029
Marine transportation costs	—			—		35,789			—			—			35,789
Sodium minerals and sulfur services operating costs	—			—		78,869			2,092			(1,596		)	79,365
Offshore pipeline transportation operating costs	—			—		17,928			762			—			18,690
General and administrative	—			—		19,409			—			—			19,409
Depreciation and amortization	—			—		63,107			625			—			63,732
Gain on sale of assets	—			—		—			—			—			—
Total costs and expenses	—			—		440,818			3,792			(1,596		)	443,014
OPERATING INCOME	—			—		40,226			2,874			—			43,100
Equity in earnings of subsidiaries	55,971			—		(388		)	—			(55,583		)	—
Equity in earnings of equity investees	—			—		13,044			—			—			13,044
Interest (expense) income, net	(47,383		)	—		3,450			(3,455		)	—			(47,388		)
Other expense	(2,276		)	—		—			—			—			(2,276		)
Income before income taxes	6,312			—		56,332			(581		)	(55,583		)	6,480
Income tax benefit (expense)	—			—		(322		)	2			—			(320		)
NET INCOME	6,312			—		56,010			(579		)	(55,583		)	6,160
Net loss attributable to noncontrolling interest	—			—		—			152			—			152
NET INCOME ATTRIBUTABLE TO GENESIS ENERGY, L.P.	$	6,312		$	—	$	56,010		$	(427	)	$	(55,583	)	$	6,312
Less: Accumulated distributions attributable to Series A Convertible Preferred Units	(5,469		)	—		—			—			—			(5,469		)
NET INCOME AVAILABLE TO COMMON UNIT HOLDERS	$	843		$	—	$	56,010		$	(427	)	$	(55,583	)	$	843

Unaudited Condensed Consolidating Statement of Operations

Three Months Ended September 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	$	—		$	—	$	89,717					$	—		$	89,717
Sodium minerals and sulfur services	—			—		45,262			2,981			(2,518		)	45,725
Marine transportation	—			—		55,285			—			—			55,285
Onshore facilities and transportation	—			—		264,326			4,997			—			269,323
Total revenues	—			—		454,590			7,978			(2,518		)	460,050
COSTS AND EXPENSES:
Onshore facilities and transportation costs	—			—		252,450			255			—			252,705
Marine transportation costs	—			—		38,490			—			—			38,490
Sodium minerals and sulfur services operating costs	—			—		24,577			3,018			(2,518		)	25,077
Offshore pipeline transportation operating costs	—			—		22,533			589			—			23,122
General and administrative	—			—		11,212			—			—			11,212
Depreciation and amortization	—			—		53,640			625			—			54,265
Total costs and expenses	—			—		402,902			4,487			(2,518		)	404,871
OPERATING INCOME	—			—		51,688			3,491			—			55,179
Equity in earnings of subsidiaries	66,811			—		28			—			(66,839		)	—
Equity in earnings of equity investees	—			—		12,488			—			—			12,488
Interest (expense) income, net	(34,710		)	—		3,595			(3,620		)	—			(34,735		)
Other expense	—			—		—			—			—			—
Income before income taxes	32,101			—		67,799			(129		)	(66,839		)	32,932
Income tax expense	—			—		(949		)	—			—			(949		)
NET INCOME	32,101			—		66,850			(129		)	(66,839		)	31,983
Net loss attributable to noncontrolling interest	—			—		—			118			—			118
NET INCOME ATTRIBUTABLE TO GENESIS ENERGY, L.P.	$	32,101		$	—	$	66,850		$	(11	)	$	(66,839	)	$	32,101
Less: Accumulated distributions attributable to Series A Convertible Preferred Units	—			—		—			—			—			—
NET INCOME AVAILABLE TO COMMON UNIT HOLDERS	$	32,101		$	—	$	66,850		$	(11	)	$	(66,839	)	$	32,101

Unaudited Condensed Consolidating Statement of Operations

Nine Months Ended September 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	$	—		$	—	$	243,437		$	—		$	—		$	243,437
Sodium minerals and sulfur services	—			—		197,321			5,968			(5,410		)	197,879
Marine transportation	—			—		152,038			—			—			152,038
Onshore facilities and transportation	—			—		700,908			14,066			—			714,974
Total revenues	—			—		1,293,704			20,034			(5,410		)	1,308,328
COSTS AND EXPENSES:
Onshore facilities and transportation costs	—			—		661,842			853			—			662,695
Marine transportation costs	—			—		111,980			—			—			111,980
Sodium minerals and sulfur services operating costs	—			—		132,608			6,137			(5,410		)	133,335
Offshore pipeline transportation operating costs	—			—		52,396			2,286			—			54,682
General and administrative	—			—		38,723			—			—			38,723
Depreciation and amortization	—			—		174,578			1,875			—			176,453
Gain on sale of assets	—			—		(26,684		)	—			—			(26,684		)
Total costs and expenses	—			—		1,145,443			11,151			(5,410		)	1,151,184
OPERATING INCOME	—			—		148,261			8,883			—			157,144
Equity in earnings of subsidiaries	191,471			—		(1,033		)	—			(190,438		)	—
Equity in earnings of equity investees	—			—		34,805			—			—			34,805
Interest (expense) income, net	(122,060		)	—		10,436			(10,493		)	—			(122,117		)
Other expense	(2,276		)	—		—			—			—			(2,276		)
Income before income taxes	67,135			—		192,469			(1,610		)	(190,438		)	67,556
Income tax expense	—			—		(880		)	2			—			(878		)
NET INCOME	67,135			—		191,589			(1,608		)	(190,438		)	66,678
Net loss attributable to noncontrolling interest	—			—		—			457			—			457
NET INCOME ATTRIBUTABLE TO GENESIS ENERGY, L.P.	$	67,135		$	—	$	191,589		$	(1,151	)	$	(190,438	)	$	67,135
Less: Accumulated distributions attributable to Series A Convertible Preferred Units	(5,469		)	—		—			—			—			$	(5,469	)
NET INCOME AVAILABLE TO COMMON UNIT HOLDERS	$	61,666		$	—	$	191,589		$	(1,151	)	$	(190,438	)	$	61,666

Unaudited Condensed Consolidating Statement of Operations

Nine Months Ended September 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	$	—		$	—	$	244,837					$	—		$	244,837
Sodium minerals and sulfur services	—			—		129,671			5,499			(5,585		)	129,585
Marine transportation	—			—		159,930			—			—			159,930
Onshore facilities and transportation	—			—		734,560			15,528			—			750,088
Total revenues	—			—		1,268,998			21,027			(5,585		)	1,284,440
COSTS AND EXPENSES:
Onshore facilities and transportation costs	—			—		691,763			831			—			692,594
Marine transportation costs	—			—		105,942			—			—			105,942
Sodium minerals and sulfur services operating costs	—			—		67,190			6,036			(5,585		)	67,641
Offshore pipeline transportation operating costs	—			—		61,882			1,850			—			63,732
General and administrative	—			—		34,716			—			—			34,716
Depreciation and amortization	—			—		154,925			1,875			—			156,800
Total costs and expenses	—			—		1,116,418			10,592			(5,585		)	1,121,425
OPERATING INCOME	—			—		152,580			10,435			—			163,015
Equity in earnings of subsidiaries	195,674			—		(50		)	—			(195,624		)	—
Equity in earnings of equity investees	—			—		35,362			—			—			35,362
Interest (expense) income, net	(104,543		)	—		10,861			(10,975		)	—			(104,657		)
Other expense	—			—		—			—			—			—
Income before income taxes	91,131			—		198,753			(540		)	(195,624		)	93,720
Income tax (expense) benefit	—			—		(2,956		)	(3		)	—			(2,959		)
NET INCOME	91,131			—		195,797			(543		)	(195,624		)	90,761
Net loss attributable to noncontrolling interest	—			—		—			370			—			370
NET INCOME ATTRIBUTABLE TO GENESIS ENERGY, L.P.	$	91,131		$	—	$	195,797		$	(173	)	$	(195,624	)	$	91,131
Less: Accumulated distributions attributable to Series A Convertible Preferred Units	—			—		—			—			—			$	—
NET INCOME AVAILABLE TO COMMON UNIT HOLDERS	$	91,131		$	—	$	195,797		$	(173	)	$	(195,624	)	$	91,131

Unaudited Condensed Consolidating Statement of Cash Flows

Nine Months Ended September 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	$	142,721		$	—	$	333,709		$	(8,346	)	$	(250,294	)	$	217,790
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments to acquire fixed and intangible assets	—			—		(182,653		)	—			—			(182,653		)
Cash distributions received from equity investees - return of investment	—			—		14,517			—			—			14,517
Investments in equity investees	(140,513		)	—		—			—			140,513			—
Acquisitions	—			—		(1,325,759		)	—			—			(1,325,759		)
Intercompany transfers	(1,238,585		)	—		—			—			1,238,585			—
Repayments on loan to non-guarantor subsidiary	—			—		(159		)	—			159			—
Contributions in aid of construction costs	—			—		124			—			—			124
Proceeds from asset sales	—			—		39,204			—			—			39,204
Other, net	—			—		—			—			—			—
Net cash used in investing activities	(1,379,098		)	—		(1,454,726		)	—			1,379,257			(1,454,567		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on senior secured credit facility	1,247,700			—		—			—			—			1,247,700
Repayments on senior secured credit facility	(1,153,400		)	—		—			—			—			(1,153,400		)
Proceeds from issuance of senior unsecured notes	550,000			—		—			—			—			550,000
Proceeds from issuance of Series A convertible preferred units, net	729,958			—		—			—			—			729,958
Debt issuance costs	(17,808		)	—		—			—			—			(17,808		)
Intercompany transfers	—			—		1,242,475			(3,890		)	(1,238,585		)	—
Issuance of common units for cash, net	140,513			—		140,513			—			(140,513		)	140,513
Distributions to common unitholders	(260,586		)	—		(260,586		)	—			260,586			(260,586		)
Contributions from noncontrolling interest	—			—		—			1,850			—			1,850
Other, net	—			—		1,215			10,451			(10,451		)	1,215
Net cash used in financing activities	1,236,377			—		1,123,617			8,411			(1,128,963		)	1,239,442
Net increase in cash and cash equivalents	—			—		2,600			65			—			2,665
Cash and cash equivalents at beginning of period	6			—		6,360			663			—			7,029
Cash and cash equivalents at end of period	$	6		$	—	$	8,960		$	728		$	—		$	9,694

Unaudited Condensed Consolidating Statement of Cash Flows

Nine Months Ended September 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	$	122,884		$	—	$	310,723		$	6,781		$	(211,991	)	$	228,397
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments to acquire fixed and intangible assets	—			—		(363,218		)	—			—			(363,218		)
Cash distributions received from equity investees - return of investment	—			—		16,652			—			—			16,652
Investments in equity investees	(298,051		)	—		—			—			298,051			—
Acquisitions	—			—		(25,394		)	—			—			(25,394		)
Intercompany transfers	54,148			—		—			—			(54,148		)	—
Repayments on loan to non-guarantor subsidiary	—			—		4,526			—			(4,526		)	—
Contributions in aid of construction costs	—			—		12,208			—			—			12,208
Proceeds from asset sales	—			—		3,303			—			—			3,303
Other, net	—			—		185			—			—			185
Net cash used in investing activities	(243,903		)	—		(351,738		)	—			239,377			(356,264		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on senior secured credit facility	883,600			—		—			—			—			883,600
Repayments on senior secured credit facility	(831,600		)	—		—			—			—			(831,600		)
Debt issuance costs	(1,578		)	—		—			—			—			(1,578		)
Intercompany transfers	—			—		(35,144		)	(19,004		)	54,148			—
Issuance of common units for cash, net	298,051			—		298,051			—			(298,051		)	298,051
Distributions to common unitholders	(227,454		)	—		(227,454		)	—			227,454			(227,454		)
Other, net	—			—		(600		)	10,937			(10,937		)	(600		)
Net cash provided by financing activities	121,019			—		34,853			(8,067		)	(27,386		)	120,419
Net decrease in cash and cash equivalents	—			—		(6,162		)	(1,286		)	—			(7,448		)
Cash and cash equivalents at beginning of period	6			—		8,288			2,601			—			10,895
Cash and cash equivalents at end of period	$	6		$	—	$	2,126		$	1,315		$	—		$	3,447