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April 2017 Mizuho Energy Summit – Plains All American Pipeline, L.P.

Plains All American Pipeline, L.P. · Apr 3, 2017 · 19 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. April 2017 Mizuho Energy Summit – Plains All American Pipeline, L.P. – slide 1
    Mizuho Energy Summit Napa, CA April 2 - 4, 2017 www.plainsallamerican.com NYSE: PAA & PAGP 1
  2. April 2017 Mizuho Energy Summit – Plains All American Pipeline, L.P. – slide 2
    Discussion Outline Brief Overview of PAA PAAs Permian Basin Outlook & Positioning Future Growth & Financial Overview Q&A www.plainsallamerican.com NYSE: PAA & PAGP 3
  3. April 2017 Mizuho Energy Summit – Plains All American Pipeline, L.P. – slide 3
    Simplified Organization Structure (rounded in millions) (1) PAA Units & PAA GP Holdings, LLC Unified Board of Equivalent Units (PAGP GP) Directors PAGP Class A Shareholders (through AAP) 152 AAP Private Unitholders (through AAP)…
  4. April 2017 Mizuho Energy Summit – Plains All American Pipeline, L.P. – slide 4
    PAA Has One Of The Largest And Most Integrated Crude Oil Pipeline & Terminal System In The U.S. (1) Plains Financial Profile Legend Total Enterprise Value: 34.4B Equity Market Cap(2) 24.3B Total LT Debt 10.1B PAA/PAGP Current…
  5. April 2017 Mizuho Energy Summit – Plains All American Pipeline, L.P. – slide 5
    PAA Has One Of The Largest And Most Integrated Crude Oil Pipeline & Terminal System In The U.S. (continued) Crude Oil Value Chain Legend Under Construction PAA Has: 1. Highly integrated crude oil pipeline & terminal system…
  6. April 2017 Mizuho Energy Summit – Plains All American Pipeline, L.P. – slide 6
    PAAs Permian Basin Outlook & Positioning www.plainsallamerican.com NYSE: PAA & PAGP 7
  7. April 2017 Mizuho Energy Summit – Plains All American Pipeline, L.P. – slide 7
    PAAs Permian Basin Outlook Largest, Most Resilient Of U.S. Shale Resource Areas Oil production grew 100,000 b/d (5%) in 2016 in the cycle trough significant growth widely expected in 2017 and beyond Current Permian Estimates…
  8. April 2017 Mizuho Energy Summit – Plains All American Pipeline, L.P. – slide 8
    PAAs Permian Basin Crude Oil System: Unmatched Interconnectivity Providing Access To Multiple Markets Permian Basin Assets / Activities Transportation Volumes 2,197 mb/d Cushing to Broom Active Pipeline Miles 4,000 Crude Storage…
  9. April 2017 Mizuho Energy Summit – Plains All American Pipeline, L.P. – slide 9
    PAAs Permian Basin Footprint PAAs largest asset base / most operating leverage Delaware Basin drives substantial growth (e.g. Acquisition of Alpha Crude Connector or ACC) ACC and Advantage JV increases gathering capacity Expanding…
  10. April 2017 Mizuho Energy Summit – Plains All American Pipeline, L.P. – slide 10
    Alpha Crude Connector (ACC) Asset Overview Closed 1.2 billion acquisition in Feb 2017 ACC/PAA System Map Located in core of Northern Delaware Basin Underpinned by long-term dedications (300k+ Enterprise dedicated acres with…
  11. April 2017 Mizuho Energy Summit – Plains All American Pipeline, L.P. – slide 11
    Advantage Pipeline Overview 50/50 JV With Noble Midstream JV to acquire for 133 million Advantage/PAA System Map Majority of PAAs 50% share is expected to be paid in PAA units issued to certain of the PAA Wink sellers at closing…
  12. April 2017 Mizuho Energy Summit – Plains All American Pipeline, L.P. – slide 12
    Future Growth & Financial Overview www.plainsallamerican.com NYSE: PAA & PAGP 13
  13. April 2017 Mizuho Energy Summit – Plains All American Pipeline, L.P. – slide 13
    PAA Is Completing A Multi-Year Capital Program Focused On Building Out Regional Interconnectivity Across The Value Chain 2016 Project Completions: Permian Basin Potential for small bolt-on (Stateline), Saddlehorn, Red River, Caddo,…
  14. April 2017 Mizuho Energy Summit – Plains All American Pipeline, L.P. – slide 14
    Diamond Pipeline PAA Cost: 465mm Description: 20, 440 mile pipeline from Cushing, OK to Valero Memphis, TN refinery Ownership: 50% JV operating interest with partner Valero, the shipper Capacity: Initial capacity of 200mb/d;…
  15. April 2017 Mizuho Energy Summit – Plains All American Pipeline, L.P. – slide 15
    PAAs Investments Have Continued To Drive Growth In Fee-Based Transportation & Facilities Segments Fee-based Adjusted EBITDA growth driven by: PAA Adjusted EBITDA By Segment ( millions) Permian production growth 2,400 Project…
  16. April 2017 Mizuho Energy Summit – Plains All American Pipeline, L.P. – slide 16
    PAAs Substantial Capacity Across The Asset System Leverages PAA To An Industry Recovery Increased utilization of PAAs Available Capacity asset base can result in 100 mb/d significant EBITDA growth with 0-100 mb/d Substantially…
  17. April 2017 Mizuho Energy Summit – Plains All American Pipeline, L.P. – slide 17
    PAAs Actions Throughout The Downturn Reiterate Its Commitment To Investment Grade PAA has taken actions throughout the industry downturn to manage capital needs, focus the core business and return to targeted balance sheet metrics…
  18. April 2017 Mizuho Energy Summit – Plains All American Pipeline, L.P. – slide 18
    PAA Capitalization & Liquidity Capitalization ( in billions) As of December 31 2015 2016 Short-term Debt(1) 1.0 1.7 Long-term Debt 10.4 10.1 Partners' Capital 7.9 8.8 Total Book Capitalization 18.3 18.9 Credit Stats & Liquidity…
  19. April 2017 Mizuho Energy Summit – Plains All American Pipeline, L.P. – slide 19
    Key Takeaways Strong long-term fundamentals for the oil resource plays and PAAs assets and business PAA has one of the largest and most integrated crude oil midstream systems in North America Located in all major crude oil resource…

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