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EX - 99.1 2 a2021q1exhibit991.htm EX - 99.1 Exhibit 99.1 Shell Midstream Partners SHELL MIDSTREAM PARTNERS , L.P. 1st QUARTER 2021 UNAUDITED RESULTS 1ST QUARTER 2021 • • The Partnership reported $ 163 million of net income attributable to the Partnership , $ 166 million of net cash provided by operating activities , $ 201 million of adjusted EBITDA attributable to the Partnership and $ 173 million of cash available for distribution . ⚫ First quarter distribution of $ 0.46 per common unit , consistent with the previous quarter . • Diversified asset base continues to demonstrate resilience in a challenging economic environment as offshore volumes return to more normal levels after hurricanes and producer turnarounds . HOUSTON , April 30 , 2021 – Shell Midstream Partners , L.P. ( NYSE : SHLX ) ( the “ Partnership ” or “ Shell Midstream Partners " ) reported net income attributable to the Partnership of $ 163 million for the first quarter of 2021 , which equated to $ 0.37 per diluted common limited partner unit . Shell Midstream Partners also generated adjusted earnings before interest , income taxes , depreciation and amortization attributable to the Partnership of $ 201 million . Total cash available for distribution was $ 173 million , approximately $ 8 million higher than the prior quarter . This increase was largely driven by offshore volumes returning to more normal levels following hurricane impacts and planned producer turnarounds . The increase was partially offset by continued lower refined products demand related to the ongoing COVID - 19 pandemic . " The Partnership continued to deliver value to our unit holders during the first quarter as volumes returned offshore following an active hurricane season and planned producer maintenance activity , ” said Steven C. Ledbetter , CEO , Shell Midstream Partners GP LLC . “ While our refined products assets are still showing impacts from ongoing lower demand from COVID - 19 travel restrictions , our diversified asset base remains resilient in this challenging market . " The Board of Directors of our general partner previously declared a cash distribution of $ 0.46 per limited partner common unit for the first quarter of 2021. This distribution was consistent with the prior quarter .