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August 2018 Citi MLP Conference – Plains All American Pipeline, L.P.

Plains All American Pipeline, L.P. · Aug 15, 2018 · 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. August 2018 Citi MLP Conference – Plains All American Pipeline, L.P. – slide 1
    Citi 1x1 MLP Conference August 15-16, 2018 www.plainsallamerican.com NYSE: PAA & PAGP 1
  2. August 2018 Citi MLP Conference – Plains All American Pipeline, L.P. – slide 2
    Discussion Outline Brief Overview of PAA Recent Events & Updates Appendix www.plainsallamerican.com NYSE: PAA & PAGP 3
  3. August 2018 Citi MLP Conference – Plains All American Pipeline, L.P. – slide 3
    Plains Organization Structure (Simplified) PAA GP Holdings, LLC Financial structure provides Unified Board (PAGP GP) flexibility & optionality PAA MLP security, owns 100% of assets and operations Public Investors (NYSE: PAGP)…
  4. August 2018 Citi MLP Conference – Plains All American Pipeline, L.P. – slide 4
    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…
  5. August 2018 Citi MLP Conference – Plains All American Pipeline, L.P. – slide 5
    Solid Fee-Based Growth Through the Cycle Margin-based benefits in favorable market conditions L48 Onshore Seg. Adj. EBITDA Production ( billions) (mb/d) 3.0 10,000 Directional illustration 9,000 Margin-based Adj. EBITDA 2.5…
  6. August 2018 Citi MLP Conference – Plains All American Pipeline, L.P. – slide 6
    Recent Events & Updates www.plainsallamerican.com NYSE: PAA & PAGP 7
  7. August 2018 Citi MLP Conference – Plains All American Pipeline, L.P. – slide 7
    Key Takeaways From 2018 Investor Day (June 5, 2018) 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…
  8. August 2018 Citi MLP Conference – Plains All American Pipeline, L.P. – slide 8
    2Q18 Earnings Call Highlights (August 7, 2018) 2Q18 Delivered 2Q18 financial and operating results ahead of Results expectations On target with leverage reduction plan Strategic Added several dozen projects to capital program to…
  9. August 2018 Citi MLP Conference – Plains All American Pipeline, L.P. – slide 9
    2018 Financial & Operating Guidance PAA Guidance August 7, 2018 (Press Release Excerpt) 2018(G) Key Metrics Twelve Months Ended December 31, (in millions) 2016 2017 2018 (G) +/- Adj. EBITDA: +/-2.4 billion Segment Adjusted…
  10. August 2018 Citi MLP Conference – Plains All American Pipeline, L.P. – slide 10
    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 total…
  11. August 2018 Citi MLP Conference – Plains All American Pipeline, L.P. – slide 11
    Significant Growth in Permian Tariff Volumes PAA Permian Tariff Volumes Long-haul Systems mb/d 4,000 +/-3,800 Adding 850mb/d of new capacity 3,734 (Cactus II, Sunrise Expansion) 3,500 3,240 3,219 1,014 3,000 2,761 2,963…
  12. August 2018 Citi MLP Conference – Plains All American Pipeline, L.P. – slide 12
    2018 / 2019 Capital Program ( billions) PAA Expansion Capital Summary PAAs 2018 / 2019 Capital Program 2.0 1.95 (80% Permian focused) includes: 1.8 1.6 1.40 Cactus II PAA ownership of 65%; capital 1.4 1.14 investment to span +/-…
  13. August 2018 Citi MLP Conference – Plains All American Pipeline, L.P. – slide 13
    Select Permian Basin Pipeline Debottlenecking Projects Sunrise Expansion: 1Q19 adds up to 500 mb/d (gross) Wink to Midland: COLORADO June 18 adds 200 mb/d CITY El Mar to Wink: 1Q19 adds 500 mb/d MIDLAND ORLA WINK…
  14. August 2018 Citi MLP Conference – Plains All American Pipeline, L.P. – slide 14
    PAAs Permian Long-Haul System Capacity Including expansions & certain potential expansions (map reflects gross capacity) Potential Sunrise Phase III (24) Wichita Falls to Cushing +500 mb/d Sunrise Expansion Phase I/II (24) Basin…
  15. August 2018 Citi MLP Conference – Plains All American Pipeline, L.P. – slide 15
    Announced June 12, 2018 ExxonMobil & Plains All American to Pursue Permian Pipeline Joint Venture CUSHING XOM / PAA Project Highlights FID targeted for 4Q18 Project design and commercial agreement activities underway Designed to…
  16. August 2018 Citi MLP Conference – Plains All American Pipeline, L.P. – slide 16
    Appendix www.plainsallamerican.com NYSE: PAA & PAGP 17
  17. August 2018 Citi MLP Conference – Plains All American Pipeline, L.P. – slide 17
    U.S. is Worlds 1 Liquids Producer (1) With pipelines, Permian Basin alone could pass China, Canada & Iraq Projected World Liquids Production: 103 mmb/d as of December 2019 U.S. & Canada = 25 mmb/d 55% of U.S. Liquids Growth is…
  18. August 2018 Citi MLP Conference – Plains All American Pipeline, L.P. – slide 18
    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…
  19. August 2018 Citi MLP Conference – Plains All American Pipeline, L.P. – slide 19
    Permian Driving Increased Light Crude Production Expect condensate (45) to represent 50% of Delaware Basin growth Permian Condensate Delaware Basin Midland Basin Growth mb/d 1,500 1,250 1,400 1,000 750 500 250 400 0 2017…

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