3. Spirit of Houston Past

7. 372,207 vehicles Oct ’14

12. Spirit of Houston Present

15. Impact of Crude Price Drop on Cash Flows Texas Production (Daily Avg.)2.0 million barrels WTI Price Drop Since June$46.10 Lost Potential Revenue Daily$92.2 million Monthly$2.8 billion Annual$32.4 billion WTI = West Texas Intermediate, the U.S. benchmark for light sweet crude Source: Partnership calculations based on data from the Texas Railroad Commission and U.S. Energy Information Administration

16. Impact of Crude Price Drop on Cash Flows Texas Production (Daily Avg.)2.0 million barrels WTI Price Drop Since June$46.10 Potential Revenue Daily$92.2 million Monthly$2.8 billion Annual$32.4 billion WTI = West Texas Intermediate, the U.S. benchmark for light sweet crude Source: Partnership calculations based on data from the Texas Railroad Commission and U.S. Energy Information Administration

17. Spirit of Houston Yet To Be

18. Economic Drivers in ’15 U.S. Economy Construction International Population

19. 2015 - Partnership Employment Forecast

20. Cuts to exploration budgets 20% - 50% Drop in the rig count 500 or more Wells drilled 9,000 fewer Industry layoffs Oil field services Equipment manufacturing Exploration and production

21. ’15 Forecast Summary – 62,900 jobs – 2.2 percent increase – 3.0+ million by Dec

22. “Are these the shadows of things that will be or the shadows of things that may be?”