Condensed Consolidating Financial Information

Our $2.5 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 9 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, 2019



	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	$	—	$	8,757		$	2,441		$	—		$	11,204
Other current assets	25		—		416,882			12,135			(176		)	428,866
Total current assets	31		—		425,639			14,576			(176		)	440,070
Fixed assets, at cost	—		—		5,393,893			77,584			—			5,471,477
Less: Accumulated depreciation	—		—		(1,063,357		)	(29,842		)	—			(1,093,199		)
Net fixed assets	—		—		4,330,536			47,742			—			4,378,278
Mineral Leaseholds, net of accumulated depletion	—		—		559,161			—			—			559,161
Goodwill	—		—		301,959			—			—			301,959
Other assets, net	9,978		—		429,612			115,503			(170,796		)	384,297
Advances to affiliates	3,238,092		—		—			104,796			(3,342,888		)	—
Equity investees	—		—		350,258			—			—			350,258
Investments in subsidiaries	2,656,379		—		62,191			—			(2,718,570		)	—
Right of Use Assets, net	$	—	$	—	$	200,788		$	—		$	—		200,788
Total assets	$	5,904,480	$	—	$	6,660,144		$	282,617		$	(6,232,430	)	$	6,614,811
LIABILITIES AND CAPITAL
Current liabilities	$	53,616	$	—	$	302,557		$	47,029		$	(236	)	$	402,966
Senior secured credit facility	942,000		—		—			—			—			942,000
Senior unsecured notes, net of debt issuance costs	2,464,247		—		—			—			—			2,464,247
Deferred tax liabilities	—		—		12,828			—			—			12,828
Advances from affiliates	—		—		3,342,790			—			(3,342,790		)	—
Other liabilities	44,795		—		352,381			176,092			(170,658		)	402,610
Total liabilities	3,504,658		—		4,010,556			223,121			(3,513,684		)	4,224,651
Mezzanine Capital:
Class A Convertible Preferred Units	778,508		—		—			—			—			778,508
Partners’ capital, common units	1,621,314		—		2,648,649			70,097			(2,718,746		)	1,621,314
Accumulated other comprehensive income⁽¹⁾	—		—		939			—			—			939
Noncontrolling interests	—		—		—			(10,601		)	—			(10,601		)
Total liabilities, mezzanine capital and partners’ capital	$	5,904,480	$	—	$	6,660,144		$	282,617		$	(6,232,430	)	$	6,614,811

⁽¹⁾The entire balance and activity within Accumulated Other Comprehensive Income is related to our pension held within our Guarantor Subsidiaries.

Unaudited Condensed Consolidating Balance Sheet

Year Ended December 31, 2018



	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	$	—	$	8,968		$	1,326		$	—		$	10,300
Other current assets	50		—		419,809			13,285			(165		)	432,979
Total current assets	56		—		428,777			14,611			(165		)	443,279
Fixed assets, at cost	—		—		5,363,274			77,584			—			5,440,858
Less: Accumulated depreciation	—		—		(994,609		)	(29,216		)	—			(1,023,825		)
Net fixed assets	—		—		4,368,665			48,368			—			4,417,033
Mineral Leaseholds, net of accumulated depletion	—		—		560,481			—			—			560,481
Goodwill	—		—		301,959			—			—			301,959
Other assets, net	10,776		—		440,312			117,766			(167,620		)	401,234
Advances to affiliates	3,305,568		—		—			103,061			(3,408,629		)	—
Equity investees and other investments	—		—		355,085			—			—			355,085
Investments in subsidiaries	2,648,510		—		60,532			—			(2,709,042		)	—
Total assets	$	5,964,910	$	—	$	6,515,811		$	283,806		$	(6,285,456	)	$	6,479,071
LIABILITIES AND CAPITAL
Current liabilities	$	39,342	$	—	$	266,252		$	27,350		$	(110	)	$	332,834
Senior secured credit facilities	970,100		—		—			—			—			970,100
Senior unsecured notes, net of debt issuance costs	2,462,363		—		—			—			—			2,462,363
Deferred tax liabilities	—		—		12,576			—			—			12,576
Advances from affiliates	—		—		3,408,659			—			(3,408,659		)	—
Other liabilities	40,840		—		188,181			197,658			(167,481		)	259,198
Total liabilities	3,512,645		—		3,875,668			225,008			(3,576,250		)	4,037,071
Mezzanine Capital:
Class A Convertible Preferred Units	761,466		—		—			—			—			761,466
Partners’ capital, common units	1,690,799		—		2,639,204			70,002			(2,709,206		)	1,690,799
Accumulated other comprehensive loss⁽¹⁾	—		—		939			—			—			939
Noncontrolling interests	—		—		—			(11,204		)	—			(11,204		)
Total liabilities, mezzanine capital and partners’ capital	$	5,964,910	$	—	$	6,515,811		$	283,806		$	(6,285,456	)	$	6,479,071

⁽¹⁾The entire balance and activity within Accumulated Other Comprehensive Loss is related to our pension plan held within our Guarantor Subsidiaries.

Unaudited Condensed Consolidating Statement of Operations

Three Months Ended March 31, 2019



	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	$	—		$	—	$	78,317		$	—		$	—		$	78,317
Sodium minerals and sulfur services	—			—		275,177			2,109			(1,800		)	275,486
Marine transportation	—			—		56,650			—			—			56,650
Onshore facilities and transportation	—			—		204,806			4,750			—			209,556
Total revenues	—			—		614,950			6,859			(1,800		)	620,009
COSTS AND EXPENSES:
Onshore facilities and transportation costs	—			—		187,397			360			—			187,757
Marine transportation costs	—			—		43,733			—			—			43,733
Sodium minerals and sulfur services operating costs	—			—		218,218			2,290			(1,800		)	218,708
Offshore pipeline transportation operating costs	—			—		18,421			37			—			18,458
General and administrative	—			—		11,686			—			—			11,686
Depreciation, depletion and amortization	—			—		77,013			625			—			77,638
Total costs and expenses	—			—		556,468			3,312			(1,800		)	557,980
OPERATING INCOME	—			—		58,482			3,547			—			62,029
Equity in earnings of subsidiaries	75,287			—		417			—			(75,704		)	—
Equity in earnings of equity investees	—			—		12,997			—			—			12,997
Interest (expense) income, net	(56,357		)	—		3,831			(3,175		)	—			(55,701		)
Other expense	(2,976		)	—		—			—			—			(2,976		)
Income before income taxes	15,954			—		75,727			372			(75,704		)	16,349
Income tax expense	—			—		(402		)	—			—			(402		)
NET INCOME	15,954			—		75,325			372			(75,704		)	15,947
Net loss attributable to noncontrolling interest	—			—		—			7			—			7
NET INCOME ATTRIBUTABLE TO GENESIS ENERGY, L.P.	$	15,954		$	—	$	75,325		$	379		$	(75,704	)	$	15,954
Less: Accumulated distributions attributable to Class A Convertible Preferred Units	(18,415		)	—		—			—			—			$	(18,415	)
NET LOSS AVAILABLE TO COMMON UNIT HOLDERS	$	(2,461	)	$	—	$	75,325		$	379		$	(75,704	)	$	(2,461	)

Unaudited Condensed Consolidating Statement of Operations

Three Months Ended March 31, 2018



	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	$	—		$	—	$	73,260					$	—		$	73,260
Sodium minerals and sulfur services	—			—		285,097			3,066			(2,253		)	285,910
Marine transportation	—			—		48,929			—			—			48,929
Onshore facilities and transportation	—			—		312,874			4,835			—			317,709
Total revenues	—			—		720,160			7,901			(2,253		)	725,808
COSTS AND EXPENSES:
Onshore facilities and transportation costs	—			—		299,841			272			—			300,113
Marine transportation costs	—			—		37,847			—			—			37,847
Sodium minerals and sulfur services operating costs	—			—		223,247			2,504			(2,253		)	223,498
Offshore pipeline transportation operating costs	—			—		17,662			678			—			18,340
General and administrative	—			—		11,674			—			—			11,674
Depreciation, depletion and amortization	—			—		74,630			625			—			75,255
Total costs and expenses	—			—		664,901			4,079			(2,253		)	666,727
OPERATING INCOME	—			—		55,259			3,822			—			59,081
Equity in earnings of subsidiaries	69,592			—		632			—			(70,224		)	—
Equity in earnings of equity investees	—			—		10,572			—			—			10,572
Interest (expense) income, net	(56,314		)	—		3,544			(3,366		)	—			(56,136		)
Other expense	(5,244		)	—		—			—			—			(5,244		)
Income before income taxes	8,034			—		70,007			456			(70,224		)	8,273
Income tax expense	—			—		(377		)	2			—			(375		)
NET INCOME	8,034			—		69,630			458			(70,224		)	7,898
Net loss attributable to noncontrolling interest	—			—		—			136			—			136
NET INCOME ATTRIBUTABLE TO GENESIS ENERGY, L.P.	$	8,034		$	—	$	69,630		$	594		$	(70,224	)	$	8,034
Less: Accumulated distributions attributable to Class A Convertible Preferred Units	(16,888		)	—		—			—			—			(16,888		)
NET INCOME (LOSS) AVAILABLE TO COMMON UNIT HOLDERS	$	(8,854	)	$	—	$	69,630		$	594		$	(70,224	)	$	(8,854	)

Unaudited Condensed Consolidating Statement of Cash Flows

Three Months Ended March 31, 2019



	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	$	28,043		$	—	$	149,165		$	(918	)	$	(62,269	)	$	114,021
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments to acquire fixed and intangible assets	—			—		(29,612		)	—			—			(29,612		)
Cash distributions received from equity investees - return of investment	—			—		5,425			—			—			5,425
Intercompany transfers	67,476			—		—			—			(67,476		)	—
Repayments on loan to non-guarantor subsidiary	—			—		1,992			—			(1,992		)	—
Proceeds from asset sales	—			—		358			—			—			358
Net cash used in investing activities	67,476			—		(21,837		)	—			(69,468		)	(23,829		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on senior secured credit facility	187,500			—		—			—			—			187,500
Repayments on senior secured credit facility	(215,600		)	—		—			—			—			(215,600		)
Intercompany transfers	—			—		(65,741		)	(1,735		)	67,476			—
Distributions to common unitholders	(67,419		)	—		(67,419		)	—			67,419			(67,419		)
Contributions from noncontrolling interest	—			—		—			610			—			610
Other, net	—			—		5,621			3,158			(3,158		)	5,621
Net cash used in financing activities	(95,519		)	—		(127,539		)	2,033			131,737			(89,288		)
Net increase (decrease) in cash and cash equivalents	—			—		(211		)	1,115			—			904
Cash and cash equivalents at beginning of period	6			—		8,968			1,326			—			10,300
Cash and cash equivalents at end of period	$	6		$	—	$	8,757		$	2,441		$	—		$	11,204

Unaudited Condensed Consolidating Statement of Cash Flows

Three Months Ended March 31, 2018



	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	$	18,637		$	—	$	124,180		$	874		$	(57,363	)	$	86,328
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments to acquire fixed and intangible assets	—			—		(66,051		)	—			—			(66,051		)
Cash distributions received from equity investees - return of investment	—			—		9,277			—			—			9,277
Intercompany transfers	9,407			—		—			—			(9,407		)	—
Repayments on loan to non-guarantor subsidiary	—			—		1,801			—			(1,801		)	—
Proceeds from asset sales	—			—		6			—			—			6
Net cash used in investing activities	9,407			—		(54,967		)	—			(11,208		)	(56,768		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on senior secured credit facility	333,800			—		—			—			—			333,800
Repayments on senior secured credit facility	(154,000		)	—		—			—			—			(154,000		)
Repayment of senior unsecured notes	(145,170		)	—		—			—			—			(145,170		)
Debt issuance costs	(159		)	—		—			—			—			(159		)
Intercompany transfers	—			—		(5,496		)	(3,911		)	9,407			—
Distributions to common unitholders	(62,515		)	—		(62,515		)	—			62,515			(62,515		)
Contributions from noncontrolling interest	—			—		—			400			—			400
Other, net	—			—		5,135			3,351			(3,351		)	5,135
Net cash provided by financing activities	(28,044		)	—		(62,876		)	(160		)	68,571			(22,509		)
Net increase in cash and cash equivalents	—			—		6,337			714			—			7,051
Cash and cash equivalents at beginning of period	6			—		8,340			695			—			9,041
Cash and cash equivalents at end of period	$	6		$	—	$	14,677		$	1,409		$	—		$	16,092