- The document is an investor presentation that provides an overview of SemGroup Corporation and Rose Rock Midstream. - It discusses SemGroup's crude oil and natural gas assets across North America and outlines strategic initiatives to focus on stable, fee-based operations and pursue organic and strategic growth opportunities. - Capital expenditure guidance for 2015 is provided, with over 90% focused on growth projects in key plays like the Maurepas Pipeline and SemGas expansion in Northern Oklahoma.

1. Investor Presentation
Third Quarter 2015

2. Forward-looking Information
2
Certain matters contained in this presentation include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We make these forward-looking statements in reliance on the safe harbor
protections provided under the Private Securities Litigation Reform Act of 1995.
All statements, other than statements of historical fact, included in this presentation including the prospects of our industry, our anticipated financial
performance, our anticipated annual dividend growth rate, management's plans and objectives for future operations, planned capital expenditures, business
prospects, outcome of regulatory proceedings, market conditions and other matters, may constitute forward-looking statements. Although we believe that the
expectations reflected in these forward-looking statements are reasonable, we cannot assure you that these expectations will prove to be correct. These
forward-looking statements are subject to certain known and unknown risks and uncertainties, as well as assumptions that could cause actual results to differ
materially from those reflected in these forward-looking statements. Factors that might cause actual results to differ include, but are not limited to, our ability to
generate sufficient cash flow from operations to enable us to pay our debt obligations or to fund our other liquidity needs; our ability to comply with the
covenants contained in the instruments governing our indebtedness and to maintain certain financial ratios required by our credit facilities; the effect of our debt
level on our future financial and operating flexibility, including our ability to obtain additional capital; the ability of our subsidiary, Rose Rock Midstream L.P.
(NYSE: RRMS), to make minimum quarterly distributions; the operations of NGL Energy Partners LP (NYSE: NGL), which we do not control; any sustained
reduction in demand for the petroleum products we gather, transport, process and store; our ability to obtain new sources of supply of petroleum products; our
failure to comply with new or existing environmental laws or regulations or cross border laws or regulations; the possibility that the construction or acquisition of
new assets may not result in the corresponding anticipated revenue increases; changes in currency exchange rates; cyber attacks involving our information
systems and related infrastructure; the risks and uncertainties of doing business outside of the U.S., including political and economic instability and changes in
local governmental laws, regulations and policies; and the possibility that our hedging activities may result in losses or may have a negative impact on our
financial results; as well as other risk factors discussed from time to time in each of our documents and reports filed with the SEC.
Readers are cautioned not to place undue reliance on any forward-looking statements contained in this presentation which reflect management's opinions only
as of the date hereof. Except as required by law, we undertake no obligation to revise or publicly release the results of any revision to any forward-looking
statements.
SemGroup and Rose Rock Midstream use their Investor Relations website and social media outlets as channels of distribution of material company
information. Such information is routinely posted and accessible on our Investor Relations websites at ir.semgroupcorp.com and ir.rrmidstream.com.
Both companies are present on Twitter and LinkedIn, follow us at the links below:
SemGroup Twitter and LinkedIn Rose Rock Midstream Twitter and LinkedIn

3. Non-GAAP Financial Measures
3
SemGroup
Adjusted EBITDA is presented in this presentation for certain periods. Adjusted EBITDA is not a U.S. generally accepted accounting principles (“GAAP”)
measure and is not intended to be used in lieu of a GAAP presentation of net income (loss). Adjusted EBITDA is presented in this presentation because
SemGroup believes it provides additional information with respect to its performance. Adjusted EBITDA represents earnings before interest, taxes, depreciation
and amortization, adjusted for selected items that SemGroup believes impact the comparability of financial results between reporting periods. Although
SemGroup presents selected items that it considers in evaluating its performance, you should also be aware that the items presented do not represent all items
that affect comparability between the periods presented. Variations in SemGroup’s operating results are also caused by changes in volumes, prices, exchange
rates, mechanical interruptions and numerous other factors. These types of variances are not separately identified in this presentation. Because all companies
do not use identical calculations, SemGroup’s presentation of Adjusted EBITDA may be different from similarly titled measures of other companies, thereby
diminishing its utility. Reconciliations of net income (loss) to Adjusted EBITDA for the periods presented are included in the appendix of this presentation.
Rose Rock Midstream
This presentation includes the non-GAAP financial measures of Adjusted gross margin, Adjusted EBITDA and distributable cash flow, which may be used
periodically by management when discussing our financial results with investors and analysts. The appendix of this presentation provides reconciliations of
these non-GAAP financial measures to their most directly comparable financial measures calculated and presented in accordance with GAAP. Adjusted gross
margin, Adjusted EBITDA and distributable cash flow are presented as management believes they provide additional information and metrics relative to the
performance of our business.
Operating income (loss) is the GAAP measure most directly comparable to Adjusted gross margin, net income (loss) and cash provided by (used in) operating
activities are the GAAP measures most directly comparable to Adjusted EBITDA, and net income (loss) is the GAAP measure most directly comparable to
distributable cash flow. Our non-GAAP financial measures should not be considered as alternatives to the most directly comparable GAAP financial measures.
These non-GAAP financial measures have important limitations as analytical tools because they exclude some, but not all, items that affect the most directly
comparable GAAP financial measures. You should not consider Adjusted gross margin, Adjusted EBITDA or distributable cash flow in isolation or as
substitutes for analysis of our results as reported under GAAP. Because Adjusted gross margin, Adjusted EBITDA and distributable cash flow may be defined
differently by other companies in our industry, our definitions of these non-GAAP financial measures may not be comparable to similarly titled measures of
other companies, thereby diminishing their utility.
Management compensates for the limitation of Adjusted gross margin, Adjusted EBITDA and distributable cash flow as analytical tools by reviewing the
comparable GAAP measures, understanding the differences between Adjusted gross margin, Adjusted EBITDA and distributable cash flow, on the one hand,
and operating income (loss), net income (loss) and net cash provided by (used in) operating activities, on the other hand, and incorporating this knowledge into
its decision-making processes. We believe that investors benefit from having access to the same financial measures that our management uses in evaluating
our operating results.

4. Two Public Companies
Note: Enterprise Value, Market Cap, Unit/Share Price and Yield as of November 6, 2015. Balance sheet data
as of September 30, 2015
 C-Corp – assets in US, Canada, Mexico & UK
 General Partner of RRMS
 Publicly Traded – November 2010
Shares: 44.6 million
Enterprise Value: $2.8 billion
Market Cap: $1.8 billion
Share Price: $39.49
Yield: 4.6%
Current Annualized Dividend: $1.80
Total Assets: $2.9 billion
PP&E: $1.5 billion
 Master Limited Partnership (MLP)
 IPO – December 2011
Units: 36.8 million
Enterprise Value: $1.6 billion
Market Cap: $889 million
Unit Price: $24.15
Yield: 10.9%
Current Annualized Distribution: $2.64
Total Assets: $1.3 billion
PP&E: $426 million
SemGroup Corporation Rose Rock Midstream
4

5. SemGroup Ownership Structure
Note: NGL Common Units are as of September 30, 2015
5

6. Strategic Initiatives
6
• Focused fee-based business with long-term minimum
commitments
• Maintain minimal commodity price exposure
Focus on Stable,
Fee-Based Business
• Improve operational efficiency and maximize asset utilization
• Leverage commercial capabilities to expand third-party
business
Optimize Existing
Asset Base
• Identify and execute on low-risk, high-return growth projects
• Continue to expand footprint to new areas (e.g. Gulf Coast)
• Jointly pursue strategic opportunities
• Methodically drop-down assets to the MLP
Pursue Organic &
Strategic Opportunities
• Strong balance sheets with current liquidity of nearly $1 billion
• No need for capital market access in 2016
• SemGroup is a strong strategic sponsor for Rose Rock
Financial Strength
Collectively focused on creating long-term value

7. Crude and Gas Assets in Key Growth Areas
7

8. Crude Business Overview
White Cliffs Pipeline – 51% ownership
 DJ Basin to Cushing, OK
 Two 527-mile, 12-inch pipelines
 150,000 bpd current capacity
 Expanding capacity to approximately 215,000 bpd
– Expected completion first half 2016
Wattenberg Oil Trunkline
 75-mile, 12-inch pipeline and storage in DJ Basin
 Transports Noble Energy production to White Cliffs
Platteville Truck Unloading Facility
 30-lane truck unloading facility
 Origin of White Cliffs Pipeline
 330,000 barrels of storage capacity
 4 new truck unloading bays and 100,000 barrels of additional
storage – Completed July 2015
 10 new truck unloading bays and 5,000 barrels of additional
storage – Completed October 2015
Tampa Pipeline
 12-mile, 12-inch pipeline from Platteville to Tampa, CO rail facility
c
DJ Basin
8

9. Crude Business Overview
Cushing Storage
 7.6 million barrels of storage
 86% under long-term fixed fee contracts with first
expiration 2016
 2015 average storage rate of $0.37 per month
 Connectivity to all major inbound/outbound pipelines
Kansas/Oklahoma System
 Approximately 600-mile gathering and transportation
pipeline system
 Currently operating at full capacity
 Connects to third-party pipelines, Kansas and
Oklahoma refineries and Cushing terminal
 650,000 barrels of storage capacity
Oklahoma/Kansas Assets
Field Services
Crude Oil Trucking Fleet
 Fleet of approximately 270 crude oil trucks
 Servicing the Bakken, DJ/Niobrara, Eagle Ford,
Granite Wash, Mississippi Lime, Permian and Utica
plays
9
Glass Mountain Pipeline – 50% ownership
 215-mile pipeline
 Two laterals – Granite Wash and Mississippi Lime Play join
and terminate in Cushing
 140,000 bpd current capacity
Isabel Pipeline – Expected Completion 1Q 2016
 48 mile, 8-inch crude oil pipeline from Isabel Junction, KS
to Alva, OK
 Connects Kansas barrels to Glass Mountain Pipeline

10. Crude Key Performance Metrics
(1) 100% of storage contract volumes are included in year of contract expiration
(2) Pipeline volumes include KS/OK system, ND transportation and Tampa pipeline
(3) White Cliffs Pipeline is owned 51% by RRMS; reflects 100% throughput
(4) Glass Mountain Pipeline is owned 50% by RRMS; average volumes for 1Q 2014 for two months operational; reflects
100% throughput
(5) Includes intercompany trucking volumes
10
2013 2014 2015
2013 2014 20152013 2014 2015
Crude Marketing Volumes
(Thousand Barrels per Day)
 Pipeline Volumes(2)  Wattenberg Oil Trunkline  Field Services(3)
6.50 6.00
4.65
3.15
Joint Venture Transportation Volumes
(Thousand Barrels per Day)
 Contracted(1)  Operational / Marketing  Uncontracted
1.35
1.10
1.35
1.35
3.10
1.60
0.25
 White Cliffs Pipeline Volumes(4)  Glass Mountain Pipeline Volumes(5)
Crude Transportation Volumes
(Thousand Barrels per Day)
Crude Cushing Storage
7.6 million Barrels Capacity

11. 156.9 167.7
251.4
315.9
355.9 369.0 384.2 368.0
0
50
100
150
200
250
300
350
400
450
500
550
600
4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
Processing Volumes Capacity
2013 2014 2015
SemGas Areas of Operation Northern Oklahoma Average Processed Volume (mmcf/d)
 Located in liquids rich oil plays
 Five processing facilities - 595 mmcf/d of current capacity
 1,300 miles of gathering lines
 Inventory of drilled but uncompleted wells to support production volumes
 Anticipate maintaining 3Q 2015 processing volumes through 2016
SemGas Natural Gas Business
11

12. 272.6 285.8
148.2
274.2
340.1
302.5 288.8
254.6
146.9
152.6
186.1
138.3
97.9
91.9 96.6
93.4
0
100
200
300
400
500
600
4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
K3 KA Capacity
2013 2014 2015
SemCAMS Natural Gas Business
SemCAMS Areas of OperationAverage Throughput Volume (mmcf/d)
 Located in:
– Western Canadian Sedimentary Basin – sour gas
– Montney – liquids rich sour gas
– Duvernay – liquids rich sweet gas
 600 miles of transport and gathering lines
 Strong incumbent position to serve industry’s growing
infrastructure needs
12
419.5
385.3
438.4
334.3
412.5
438.0
394.4
348.0

13. Maurepas Pipeline Overview
Project
 Construct, own and operate three pipelines for Motiva Enterprises, LLC in St. James, LA connecting Motiva's refineries
– 24-inch, 34 mile crude oil pipeline connected to LOCAP, crossing the Mississippi River and terminating at Motiva's Norco refinery;
– 12-inch, 35 mile intermediates pipeline between Motiva's Norco and Convent refineries; and
– 6-inch, 35 mile intermediates pipeline between Motiva's Norco and Convent refineries; and
 This project is supported by long-term transportation agreements with Motiva and is expected to be operational in the
fourth quarter of 2016
 The pipeline project is a significant part of an overall refinery optimization project
Strategic Rationale
 First step in establishing a SemGroup presence in US Gulf Coast
crude markets and it provides a more balanced risk profile through
geographic diversity, new customer base and potential for
product expansion
 Platform for future participation in the build-out of infrastructure in
the Gulf Coast
 Accomplishes strategic goal of becoming more refinery facing
 Furthers SemGroup’s drop down inventory to Rose Rock
Project Progress
 90% of planning process complete
– Majority of Right-of-Way acquired, permits in process and major
equipment has been ordered
13

14. Maurepas Pipeline Area Map
14

15. 2015 Updated Capital Expenditure Guidance(1)
2015 Capital Expenditures – $650 million
 Natural Gas
 Crude
 Other Growth Projects
 Maintenance
$355
38%
54%
1%
7%
$245
$5
$45
 Project update
- Platteville expansion completed
- Maurepas Pipeline on-track for a Q4 2016 completion
 Growth capex guidance reduced $90
million to reflect timing of capital spend
 Reduced capex guidance $35 million
primarily a result of a decrease in
SemGas well connects
 More than 90% of capital expenditures
are focused on growth capital
 Targeting EBITDA multiples of 5-8x on
organic growth projects in key asset plays
15
(1) Guidance updated November 5, 2015

16. (in millions)
Total
ProjectSegment Description
Estimated
Completion
Date 2015 Capex 2016 Capex
SemGroup
Crude Maurepas Pipeline 4Q 2016 205 275 500
SemGas Northern Oklahoma gas gathering & processing expansion varies 105 40 145
SemCAMS Wapiti Pipeline Expansion varies 45 5 50
SemCAMS K3 Plant projects varies 10 10 20
SemCAMS KA Plant projects varies 40 25 65
Other/undesignated growth projects varies 60 135
Maintenance 35 30
Total SemGroup $500
Rose Rock Midstream
Crude White Cliffs Pipeline capacity expansion(2) 1H 2016 35 5 40
Crude Isabel Pipeline 1Q 2016 30 5 35
Crude Platteville truck unloading expansion October 2015 25 — 25
Crude Wattenberg Oil Trunkline extension 1Q 2015 20 10 30
Other/undesignated growth projects 30
Maintenance 10 10
Total Rose Rock Midstream $150
Total $650 $500-$600
(1) Guidance updated November 5, 2015
(2) Investments in affiliate; reflects our ownership in joint ventures
16
2015 Updated Capital Expenditure Guidance(1)

17. $116
$135
$189
$287
$305-$315
$100
$150
$200
$250
$300
$350
2011 2012 2013 2014 2015E
RRMS Adjusted EBITDA(1)
(in millions)
$35 $40
$69
$128
$175-$185
$0
$50
$100
$150
$200
2011 2012 2013 2014 2015E
(1) Non-GAAP Financial Data Reconciliations can be found on the company website
(2) SemGroup includes fully consolidated Rose Rock Midstream
(3) Prior period financial information has been recast to reflect the effects of the dropdown of the Wattenberg Oil Trunkline
(4) CAGR is based on the midpoint of 2015 Adjusted EBITDA Guidance
SEMG Adjusted EBITDA(1)
(in millions)
17
3Q 2015 2Q 2015 1Q 2015
9 months
ending
9/30/15
9 months
ending
9/30/14
Crude(2) $ 42.2 $ 43.8 $ 41.6 $ 127.6 $ 106.0
SemGas 17.4 19.4 15.1 51.9 44.5
SemCAMS 9.2 8.5 8.4 26.1 36.5
SemLogistics 2.0 2.2 1.0 5.2 (0.8)
SemMaterials Mexico 4.6 5.3 5.3 15.2 12.6
SemStream 4.7 4.5 5.0 14.2 17.3
Corporate and Other (4.1) (3.7) (6.4) (14.2) (11.9)
SemGroup $ 76.0 $ 80.0 $ 70.0 $ 226.0 $ 204.2
Rose Rock Midstream $ 41.9 $ 44.7 $ 42.1 $ 128.7 $ 82.8
Third Quarter 2015 Adjusted EBITDA(1)

18. Leverage & Liquidity
(in millions, unaudited)
SemGroup Rose Rock
September 30, 2015 September 30, 2015
Revolving credit facility - December 2018
Revolving credit facility - September 2018
7.500% Senior unsecured notes - 2021 $300.0
5.625% Senior unsecured notes - 2022 $400.0
5.625% Senior unsecured notes - 2023 350.0
Total consolidated debt $300.0 $750.0
Compliance leverage ratio(1) 1.08x 3.96x
Liquidity:
Cash and cash equivalents 146.0 44.0
Revolver availability(2) 495.5 546.1
Total liquidity $641.5 $590.1
(1) Calculated per credit agreement definitions
(2) Revolver availability less outstanding letters of credit
Nearly $1.2 Billion of Combined Liquidity
18

19. 88%
6%
6%
SemGroup’s Fee-based Business Model
Margin Contribution(1)
 Fixed Fee  Variable Fee  Marketing
Margin Descriptions
Fixed Fee
– Storage fees
– Transportation fees
– Unloading fees
– Gathering and processing fees
Variable Fee
– Gas processing – percent of proceeds
Marketing
– Back-to-back marketing transactions
Fixed Fee Variable Fee Marketing
SemGas(2) 72% 28%
SemCAMS 100%
SemLogistics 100%
SemMaterials Mexico 100%
White Cliffs Pipeline 100%
Rose Rock Midstream(3)(4) 85% 15%
19
(1) LTM September 30, 2015
(2) SemGas 3Q 2015 margin contribution 73% fixed fee, 27% variable fee
(3) Rose Rock Midstream includes White Cliffs and Glass Mtn Pipeline proportionate cash distributions
(4) Marketing margin reduced by intercompany trucking expense

20. SemGroup Corporation Dividend Growth(1)
(1) Assumes no further drop downs to Rose Rock or 3rd party acquisitions
2015 Target Dividend Growth 50-60% year-over-year
2013 2014 2015
20

21. Rose Rock Midstream Distribution Growth(1)
(1) Assumes no further drop downs from SemGroup or 3rd party acquisitions
2015 Target Annual Coverage Ratio 1.1x-1.2x
2015 Target Distribution Growth 15-20% year-over-year
2011 2012 2013 2014 2015
21

22. Company Highlights
22
 Prudent organic capital investment at 5-8x EBITDA multiples
 Capital spending can be accomplished without accessing capital markets
 Clean balance sheet provides significant financial flexibility
 SemGroup’s strong sponsor support for Rose Rock creates value for both entities