BAML Energy Credit Conference June 6, 2018 www.plainsallamerican.com NYSE: PAA & PAGP 1
Over Past 20+ Years, PAA Has Developed One of the Largest and Most Integrated Midstream Systems in North America PAAs Crude Oil Value Chain Legend Plains Current Profile Volumes Handled(1): 5.2 mmb/d Transportation 1.2 mmb/d…
Key Takeaways From 2018 Investor Day PAA executing operating and financial initiatives; Positioned for growth Robust global demand growth (U.S. crude demand) Solid Industry Permian Basin key U.S. supply engine Fundamentals Midstream…
U.S. is Worlds 1 Liquids Producer (1) Permian Basin: Largest U.S. producing region World Liquids Production: 100 mmb/d as of April 2018 U.S. & Canada = 22 mmb/d Permian Basin as a standalone country would be a Top 10 liquids…
Permian Growth Drives Future U.S. Exports, Delaware Basin (Significant PAA Operating Leverage) Drives Permian Growth Permian Crude Production Outlook (mb/d) Delaware Basin Overview (1) +1,700 6,400 Majority of E&P acquisitions…
Permian Basin Infrastructure PAAs Franchise 20+ operators (in yellow), PAAs fully integrated crude oil midstream system (in red) COLORADO CITY MIDLAND ORLA WINK 80% of PAAs CRANE Permian acreage dedications are located…
PAAs Permian Basin Strategy Expand gathering footprint, primarily in the Delaware Basin Supported by combination of acreage dedications and volume commitments Debottleneck intra-basin system and provide access to take-away pipes…
Deleveraging Plan Remains on Track (announced August 2017) Combination of debt reduction & growth in fee-based Adjusted EBITDA PAA is committed to its financial strategy & targeted metrics PAA Debt & Leverage Ratios Reduced debt by…
Financial Considerations for 2019 and Beyond On track to complete deleveraging plan by 1H19 Expect significant fee-based Adj. EBITDA growth in 2019 14-15% preliminary fee-based shadow guidance growth over 2018 300mm Y-Y Adj. EBITDA…
Closing Thoughts Committed to executing our financial strategy and completing deleveraging plan Growing fee-based cash flow driven by capital investments and increased utilization on our existing pipelines Positioned for return to…