Investor and Analyst Day Grand Hyatt Hotel

NYC November 11, 2015

Forward-Looking Statements

This presentation contains forward-looking statements that involve a number of assumptions, risks and

uncertainties that could cause actual results to differ materially from those contained in the forward-

looking statements. The Partnership cautions readers that any forward-looking information is not a

guarantee of future performance. Such forward-looking statements include, but are not limited to,

statements about future financial and operating results, the Partnership’s plans, objectives,

expectations and intentions and other statements that are not historical facts. Risks, assumptions and

uncertainties that could cause actual results to materially differ from the forward-looking statements

include, but are not limited to, those associated with the cash flow from our pre-need and at-need sales,

our trusts, and financings, which may impact our ability to meet our financial projections, our ability

to service our debt and pay distributions, and our ability to increase our distributions; future revenue

and revenue growth; the integration or anticipated benefits of our recent acquisitions or any future

acquisitions; our ability to complete and fund additional acquisitions; the effect of economic

downturns; the impact of our leverage on our operating plans; the decline in the fair value of certain

equity and debt securities held in our trusts; our ability to attract, train and retain an adequate number

of sales people; the volume and timing of pre-need sales of cemetery services and products; increased

use of cremation; changes in the death rate; changes in the political or regulatory environments,

including potential changes in tax accounting and trusting policies; litigation or legal proceedings that

could expose us to significant liabilities and damage our reputation; the effects of cyber security

attacks due to our significant reliance on information technology; the financial condition of third-

party insurance companies that fund our pre-need funeral contracts; and other risks, assumptions and

uncertainties detailed from time to time in the Partnership’s reports filed with the U.S. Securities and

Exchange Commission, including quarterly reports on Form 10-Q, reports on Form 8-K and annual

reports on Form 10-K. Forward-looking statements speak only as of the date hereof, and the

Partnership assumes no obligation to update such statements, except as may be required by applicable

law.

2

Agenda

Topic Presenter

Introductions John McNamara

Who We Are Larry Miller

Industry Dynamics Larry Miller

Growth Strategy Larry Miller

Financial Strategy Sean McGrath

Financial Performance Sean McGrath

Q&A

3

Management Team Representatives

Name Title

Larry Miller Chairman, President and Chief Executive Officer

Sean McGrath Chief Financial Officer & Secretary

David Meyers Chief Operating Officer

Ken Lee Vice President, Funeral Operations

Ray Smith Vice President, Marketing

John McNamara Director of Investor Relations

4

Who We Are

Larry Miller President & CEO

StoneMor At-a-Glance

Second largest owner and operator of cemeteries in the U.S.

306 cemeteries / 103 funeral homes, located across 28 states and Puerto Rico

Complete range of funeral merchandise and services, along with cemetery property, merchandise and services, both at the time of need and on a pre-need basis

Over 15,716 acres of land, as of December 30, 2014, equivalent to a weighted average sales life of 247 years

55,500 burials performed in 2015 TTM / 15,572 funeral service calls

$771.1 million in Merchandise and Perpetual Care Trusts as of September 30, 2015

We are the only deathcare company structured as a master limited partnership (MLP)

6

Mission-Driven Strategy

Mission

Vision

Strategy

To help families memorialize every life with dignity.

To be the preferred operator of deathcare facilities and preferred provider of deathcare services.

To use an aggressive, yet conservatively financed acquisition strategy to build market share. Leverage these positions to expand service offerings.

7

Business Overview

A full suite of memorialization products

and services

– 111,000+ pre-need and at-need contracts written in 2014

– 92,660 + pre-need and at-need contracts written year-to-date

2015

• Average contract value of $2,748

– 14,900+ funeral calls in 2014

– 11,800+ calls YTD

• Average per call value of $4,000

Burial Lots Funeral Services

Grave Opening & Closing

Cremation

Mausoleums Burial Vaults

Caskets Grave Markers

Lawn Crypts Memorials

8

Our Evolution

2004 (IPO)(1) 2015(2)

Operational Data

Cemeteries / Funeral Homes 132 / 7 306 / 103

Employees ~1,100 ~3,400

Annual Interments ~22,000 ~50,500

Funeral Service Calls 650 14,900

Financial Data

Production-Based Revenue $89 million $391 million

Adjusted EBITDA $29 million $95 million

Distribution per Unit $1.85 $2.58(3)

Market Cap $175 million $970 million

(1) Represents data as of 12/31/2004 or for the twelve month period ended 12/31/2004, as applicable. (2) Represents data as of 9/30/2015 or for the twelve month period ended 9/30/2015, as applicable. (3) Includes distribution declared on 10/27/2015

9

Our Footprint in 2004

WA

OR

CA CO

KS

IA

IL

MO

AR

IN

MI

OH

PA

WV

KY

TN

VA

NC

SC

GA AL MS

FL

Ohio 2 Cemeteries 1 Funeral Home

Rhode Island 2 Cemeteries

Pennsylvania 44 Cemeteries 2 Funeral Homes

New Jersey 6 Cemeteries

Delaware 1 Cemetery

Maryland 10 Cemeteries 1 Funeral Home

West Virginia 32 Cemeteries

Virginia 29 Cemeteries 2 Funeral Homes

Georgia 1 Cemetery

Tennessee 3 Cemeteries

Alabama 1 Cemetery 1 Funeral Home

GA AL

TN

VA WV

PA

OH

132 Cemeteries

+ 7 Funeral Homes

= 139 Total Locations

As of December 31, 2004

Strong regional presence at the time of our IPO

10

Our Footprint Today

Significantly enhanced geographic scale and diversity

306 Cemeteries

+ 103 Funeral Homes

= 409 Total Locations

WA

OR

CA CO

KS

IA

IL

MO

AR

IN

MI

OH

PA

WV

KY

TN

VA

NC

SC

GA AL MS

FL

Washington 3 Cemeteries 2 Funeral Homes

Oregon 7 Cemeteries 11 Funeral Homes

California 7 Cemeteries 8 Funeral Homes

Colorado 2 Cemeteries

Kansas 3 Cemeteries 2 Funeral Homes

Hawaii 1 Cemetery

Iowa 1 Cemetery

Illinois 11 Cemeteries 4Funeral Homes

Indiana 11 Cemeteries 5 Funeral Homes Michigan

13 Cemeteries

Kentucky 2 Cemeteries

Ohio 14 Cemeteries 2 Funeral Homes

Rhode Island

2 Cemeteries

Pennsylvania 68 Cemeteries 10 Funeral Homes

New Jersey 6 Cemeteries

Delaware 1 Cemetery

Maryland 10 Cemeteries 1 Funeral Home

West Virginia 33 Cemeteries 2 Funeral Homes

Virginia 34 Cemeteries 2 Funeral Homes

North Carolina 19 Cemeteries 2 Funeral Homes

South Carolina 8 Cemeteries 2 Funeral Homes

Puerto Rico 7 Cemeteries 5 Funeral Homes

Georgia 7 Cemeteries

Florida 8 Cemeteries 26 Funeral Homes

Tennessee 11 Cemeteries 5 Funeral Homes

Alabama 9 Cemeteries 6 Funeral Homes

Mississippi 2 Cemeteries 1 Funeral Home

Arkansas 2 Funeral Homes

Missouri 6 Cemeteries 5 Funeral Homes

As of September 30, 2015 11

Diversified Revenue Streams

> 50% of revenues generated through at-need and other highly predictable sources

2015 YTD

BUSINESS MIX GENERATES STABLE AND PREDICTABLE REVENUE STREAMS

Pre-need Sales, 41.0%

At-need Sales, 26.3%

Investment Income, 12.2%

Interest Income, 2.2%

Funeral Home Revenues, 16.8%

Other Cemetery Revenues, 1.4%

12

Stable and Growing Cash Flow

Key Attributes of the Most Stable MLPs StoneMor?

Long-lived, Secure Assets

Defensible Competitive Advantage

Attractive Industry Fundamentals

Conservative Financial Profile

StoneMor features the key attributes of the most stable MLPs as well as an attractive total return profile

StoneMor Value Proposition in Context

13

Industry Dynamics

Larry Miller President & CEO

Industry Snapshot

We are an industry leader with great opportunity

Aging population driving both at-need and pre-need demand

$20 billion industry

Healthy historical and projected growth

80% of properties* are owned by independents

Only a few scale players

No new supply

Significant financial and operating regulations

Favorable Demographics

Large and Growing Market

Fragmented Ownership

Substantial Barriers to Entry

*Cemeteries and funeral homes combined 15

Demographic Tailwinds

Source: Department of Health and Human Services.

ANNUAL BIRTHS IN THE U.S. (1930-1960)

Aging Baby Boom Generation will:

1. Accelerate the death rate

2. Expand our target pre-need market (55 to 65 age range)

− More financially stable and resilient to economic downturns

− Beginning to think of legacy

Source: U.S. Department of Commerce Census Bureau.

PROJECTED U.S. POPULATION OVER 55

87

98 106

112 118

130

2015 2020 2025 2030 2035 2040

(in millions)

1.5

2.0

2.5

3.0

3.5

4.0

4.5

(in millions)

16

Cemeteries

Funeral Homes &

Crematories

$16 billion

$4 billion

Source: National Funeral Directors Association; IBIS World Market Research Source: National Funeral Directors Association; U.S. Census Bureau.

$20 Billion Market

DEATHCARE MARKET SIZE

Large and Growing Industry

CONTINUED GROWTH

2.1

2.4

2.6

3.3

1990 2000 2010 2030P

Deaths in the U.S. (millions)

Industry growth driven by demographics and supported by ever-

present demand for memorialization and celebrations of life

17

Cremation projected to rise to ~50% of total deaths in the U.S. by 2020

– However, number of non-cremation deaths will remain steady in the future

Cremation: Friend (not Foe)

* Total anticipated deaths per U.S. Census Bureau 2009 projections.

RISE IN CREMATION…

37% 40%

42% 45%

48% 51%

53% 55%

57%

0%

10%

20%

30%

40%

50%

60%

70%

80%

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

2005 2010 2015 2020 2025 2030 2035 2040

# of Deaths % Cremation

Cremation

Non-Cremation

18

Represents a key component of our growth strategy

Just 15% of current cremations utilize some form of memorialization

– Western society still memorializes life regardless of the method of disposition

Stronger linkage between cremation and

memorialization options

− Cremation gardens

− Cremation-related products and services

Increased land utilization

Higher profit margins

Cremation: Friend (not Foe)

…CREATES OPPORTUNITY

19

Cremation: Friend (not Foe)

Cremation Gardens

Glass Enclosed Niches

20

Highly Fragmented Cemetery Market

LARGEST PUBLIC CEMETERY OPERATORS

As the only cemetery-focused scale player, we are uniquely well-positioned to execute

on our consolidation strategy

Source: SEC company filings; National Funeral Directors Association. Source: IBIS World Research & National Association of Funeral Directors. (1) Includes non-public consolidators.

CEMETERY OWNERSHIP BREAKDOWN

Owned by Consolidators,

34%(1)

Independent

Operators, 66%

Ownership of cemeteries is highly fragmented

− Majority of owners are non-economic in nature (e.g. religious or municipal)

Cemeteries Funeral Homes Ratio

SCI 466 1559 1 : 3

StoneMor 306 103 3 : 1

Carriage 32 166 1 : 5

21

Substantial Barriers to Entry

Scarcity and cost of real estate near densely populated areas

Zoning restrictions

Initial capital requirements

Strength of family tradition and heritage

Administratively complex business for new entrants

CEMETERY BARRIERS

FUNERAL HOME BARRIERS

Licensing requirements

Funeral homes are part of the community

Strength of family tradition and heritage

Only an experienced, well-capitalized acquirer like StoneMor can gain share in this industry

22

Growth Strategy

Larry Miller President & CEO

Our Acquisition Approach

Disciplined target selection – “never break the model”

Strategic locations to create and / or enhance market clusters

Cemetery

− 25+ year sales life

− 200+ annual interments

Seasoned, professional management

Consolidate office functions into home office

Institute pre-need sales program

Leverage buying power to reduce product costs

Professional trust fund management

Philosophy

Target Criteria

Integration

Funeral

− 150+ Annual Calls

− Strong legacy

Accretive from day one

IRR > cost of capital

24

Proven Acquisition Track Record

178 cemeteries and 105 funeral homes acquired since 2004 IPO(1)

Target acquisition multiples of 4x – 6x EBITDA

Acquisition pipeline remains robust

$16 $33

$115 $117 $124

$173 $189 $224

$247

$354 $369

$0

$100

$200

$300

$400

$500

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

ACQUISITIONS SINCE IPO (CUMULATIVE PURCHASE PRICE)

# Cemeteries: # Funeral Homes:

($ in millions)

23 6

46 20

94 50

101 52

104 52

126 57

143 68

148 85

149 91

175 100

(1) Net of sales and divestitures, 174 cemeteries and 96 funeral homes acquired since 2004 IPO.

$107mm of acquisitions in 2014; Historical average of $27mm annually since IPO

178 105

$14mm

25

Archdiocese of Philadelphia Update:

Key Stats 13 cemeteries leased

60-year management agreement

7,000 existing burials per year; all at-need

Rationale Strengthen market position in Philadelphia backyard

Introduce pre-need sales to large and growing population

Upside from optimizing productivity of land

Significant opportunities for other Archdioceses

Update

23% increase in contracts written for 3Q15 compared with prior year

41% increase in revenue for 3Q15 compared with prior year

Pre-need contracts accounted for 30% of total contracts written for 3Q15 vs. 23% for prior year

Closed in May 2014 with $53 million initial lease payment

26

Organic Growth Initiatives

Continuous organic growth efforts support our acquisition strategy

Salesforce Development

Has grown from 310 at IPO to ~900 today

Commission schedule incentivizes top performers

Recently implemented regional training centers

Insurance Division

Currently 29 sales people

Pre-need Insurance

As of Q3, has already surpassed total 2014 sales

Final Expense Insurance

Serving the growing needs of the 50% of Americans who say they don’t have enough Life Insurance*

Telemedicine, ID Theft, Medicare Consulting, Private Exchange

* Source: LIMRA (Life Insurance Marketing Research Association)

27

Organic Growth Initiatives

Continuous organic growth efforts support our acquisition strategy

Expanded Product/Service Offerings

Substantial growth in cremation related products and services

Jewelry

Memorialization keepsakes

Cremation gardens

Optimize Real Estate Productivity

Land sales

Ability to add vertical structures to property

28

Marketing & Consumer Reach

• A website with strong lead generation capabilities to serve as foundation for direct marketing programs

Site Metrics YTD

• 296,373 new visitors went to BurialPlanning.com compared to 266,805 in 2014

• 4,735 consumers have become leads by requesting more information

• 932 households have purchased space or merchandise

• $5.8mm in revenue vs. $4.4mm in 2014

29

Financial Strategy

Sean McGrath CFO

We Are The Only Deathcare MLP

MLP Overview

Qualification Parameters

We use MLP status to conservatively unlock value

Our Competitive Advantage

We make distributions to unitholders on a quarterly basis

Qualifying income generated primarily from the sale of real property

− Non-qualifying activities operated through taxable subsidiaries

MLP status reviewed by IRS and confirmed in recent audit

Category Qualifying Non-Qualifying

Interment Rights Burial lots Lawn and mausoleum crypts Cremation niches Perpetual care rights

N/A

Merchandise Burial Vaults Caskets Grave markers

Services / Other Vault installation Casket and other installations

Other Interest and dividends Funeral home sales

Size / Scale

Market focus

31

MLP Rationale

Highly secure assets generating reliable, predictable cash flow

OPERATIONAL ASSETS FINANCIAL ASSETS

Perfect match of long-term operating and financial assets

Long-lived operating real estate assets

Over $344 mm of cemetery property (book value)

15,716 acres of land; average sales life of 247 years

Long-lived capital market assets

Over $771mm in perpetual and merchandise trusts

3rd party mgmt, income/preservation of capital

$312

$459

$50

$150

$250

$350

$450

$550

Perpetual Trusts Merchandise Trusts

Trust Fund Assets ($ in millions)

32

Growth Through

Disciplined Acquisition

Strategy

Prudent Balance Sheet Management

Deliver Reliable,

Consistent Value to

Unitholders

We have delivered steady, conservatively financed growth

Avg. $27mm annual acquisitions (’05-’13)

– 2014 acquisitions ~4x average annual pace

Target 4x – 6x EBITDA purchase prices

Proven Track Record

Keys to Our Success

Recent Developments

~$14mm acquisitions YTD

AOP and SCI properties operating on plan

Conservative leverage (3.0x debt/ Adj. EBITDA)

Distributions expected to grow by $0.01 per unit each quarter through the end of 2015

Distribution coverage conservatively managed

32% 40% 36%

28% 26%

12/11 12/12 12/13 12/14 9/15

Debt/Enterprise Value

$2.23 $2.33 $2.35 $2.39

$2.43 $2.58

2010 2011 2012 2013 2014 2015TTM

Annual Distributions/LP Unit

33

Financial Performance

Sean McGrath CFO

Strong and Stable Results

CONTRACTS WRITTEN ADJUSTED EBITDA

($ in millions)

DISTRIBUTABLE AVAILABLE

CASH

($ in millions)

$75

$87

$91

$95

$60

$65

$70

$75

$80

$85

$90

$95

$100

2012 2013 2014 2015TTM

$62

$79 $80

$96

$50

$60

$70

$80

$90

$100

$110

2012 2013 2014 2015TTM

(in thousands)

98

102

111

122

80

85

90

95

100

105

110

115

120

125

2012 2013 2014 2015TTM

35

($ in millions)

DISTRIBUTABLE AVAILABLE CASH AND DISTRIBUTIONS

$62

$79 $80

$96

$47 $52

$63

$74

$20

$30

$40

$50

$60

$70

$80

$90

$100

$110

$120

2012 2013 2014 2015 TTM

Distributable Available Cash Distributions

Sustained and Stable Cash Flows

36

Strong and Growing Asset Base

Asset base has grown while leverage has remained steady

TOTAL ASSETS AND DEBT

($ in millions)

$1,146

$1,249 $1,344

$1,474

$1,699 $1,681

$220 $195 $255

$292 $287 $291

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

2010 2011 2012 2013 2014 2015 YTD

Total Assets Total Debt

37

Significant Asset Value

NET LIQUID ASSETS

($ in millions)

FUTURE VALUE-GENERATING ASSETS

Cemetery Property:

− $345mm book value

− Approximately 15,716 acres

− Weighted average sales life of 247 years

Property and Equipment:

− $102.7mm book value, net

Perpetual Care Trusts:

− $312mm under management

− Fund future maintenance costs

Marketable assets provide debt protection and $138mm of excess value

Assets underlying $91mm of Adjusted EBITDA in 2014 & $95mm 2015 TTM

Conservative balance sheet:

‒ $138mm of net liquid assets (detail below) at 9/30/15

‒ Significant additional value from long-term, profit-generating assets of the business

$630

$138

$42

$159

$291

$0

$100

$200

$300

$400

$500

$600

$700

Cash, AR andMerchandise

Trust

AP andAccrued

Liabilities

MerchandiseLiability

Debt Excess Cashand Assets

38

Merchandise Trust and

Perpetual Care Trust

Measured Performance*

$459 million (Merchandise Trust)

– All principal, interest and dividends accrue to StoneMor over time

$312 Million (Perpetual Care)

– Principal remains in trust in perpetuity

– Interest and dividends accrue to StoneMor

Trust Management

6% 8%

7%

9% 8%

12/10 12/11 12/12 12/13 12/14

Merchandise Trust

Investment Management

Governed by investment guidelines adopted by Trust and Compliance Committee of B.O.D.

Balanced approach to preservation of capital

Variety of intermediate-term, investment-grade, fixed-income securities, high-yield securities, REITS, MLPs, other equities and cash

7% 6% 6%

5% 4%

12/10 12/11 12/12 12/13 12/14

Perpetual Care Trust

*Past performance is not indicative of future performance

39

Total Return

Source: Bloomberg and Index monthly reports. Market data as of 09-30-2015

13.4%

12.1%

10.3%

8.0% 7.7% 7.6%

0%

2%

4%

6%

8%

10%

12%

14%

16%

StoneMor NASDAQ 100 Alerian MLP Index DJ Utility Index S&P 500 Russell 2000

STON TEN-YEAR AVERAGE ANNUAL TOTAL RETURN vs. BENCHMARK ASSET CLASSES

40

Recap – StoneMor Investment Thesis

Key Attributes of the Most Stable MLPs

StoneMor?

StoneMor Investment Thesis

StoneMor features the key attributes of the most stable MLPs as well as an attractive total return profile

Conservative Financial

Profile

Attractive Industry

Fundamentals

Defensible Competitive Advantage

Long-lived, Secure Assets

Stable and Growing

Cash Flow

Highly predictable, non-cyclical business model

43 consecutive quarterly distributions

Proven track record of accretive acquisitions

$345mm+ of cemetery property (book value)

15,700 acres of land; avg. sales life of 247 years

$771mm+ in perpetual & merchandise trusts

Scale to create leveraged market positions

Cemetery / pre-need expertise drives organic growth

MLP facilitates acquisition growth

Demographic tailwinds

Large, growing and fragmented market

Prohibitive barriers to entry

Significant, growing asset base with modest leverage

Discipline in returning capital to unitholders

41

Thank You