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November 2018 Investor Presentation – Plains All American Pipeline, L.P.

Plains All American Pipeline, L.P. · Nov 27, 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. November 2018 Investor Presentation – Plains All American Pipeline, L.P. – slide 1
    November 2018 Update www.plainsallamerican.com NYSE: PAA & PAGP 1
  2. November 2018 Investor Presentation – Plains All American Pipeline, L.P. – slide 2
    Key Takeaways Long-term Constructive Industry Fundamentals & Growth Outlook Market is balancing, U.S. leading the growth Highly Integrated Asset Base & Business Model Linking key supply & demand markets Solid Fee-based Growth…
  3. November 2018 Investor Presentation – Plains All American Pipeline, L.P. – slide 3
    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): 5.7 mmb/d Transportation 1.3 mmb/d…
  4. November 2018 Investor Presentation – Plains All American Pipeline, L.P. – slide 4
    Long-term Constructive Macro Fundamentals Driven by continued global demand growth mmbbls OECD Commercial Oil Stocks Inventories Normalized 3,200 Monthly Inventory Significant inventory draws over past 3,100 Historical 5-Yr Rolling…
  5. November 2018 Investor Presentation – Plains All American Pipeline, L.P. – slide 5
    U.S. Leading World in Liquids Growth (1) Permian Projected to be a Top 4 Producer by YE 2019 mmb/d Top 10 Liquids Producing Nations (Plus Permian) Permian Source: EIA, BTU Analytics & PAA Estimates Note: Permian NGL…
  6. November 2018 Investor Presentation – Plains All American Pipeline, L.P. – slide 6
    Constructive Industry Fundamentals & Growth Outlook PAAs Integrated System Well Positioned to Benefit Western Canada Williston mb/d mb/d 6,000 2,000 1,400 1,700 4,700 1,500 4,000 1,000 2,000 500 0 0 YE YE YE YE 2017 2023…
  7. November 2018 Investor Presentation – Plains All American Pipeline, L.P. – slide 7
    Executing Capital Program & Advancing Opportunities to Optimize / Expand Existing System Patoka Progressing optimization/expansion opportunities downstream of Cushing -- potential for Capline Cushing Diamond reversal subject to…
  8. November 2018 Investor Presentation – Plains All American Pipeline, L.P. – slide 8
    Permian Long-Haul: Recent / Pending Investments Extend Reach, Enhance Market Access & Further Optimize Existing System Cushing Sunrise Expansion (Ph. I & II) Current Pipeline Capacity (1) Gathering: 2 mmb/d Capacity: 500 mb/d (24)…
  9. November 2018 Investor Presentation – Plains All American Pipeline, L.P. – slide 9
    Permian Gathering & Intra-Basin Systems Significant Capacity Expansions Underway / Completed Sunrise Expansion COLORADO CITY El Mar to Wink to Midland Wink WINK MIDLAND ORLA Wink to McCamey Crane to McCamey…
  10. November 2018 Investor Presentation – Plains All American Pipeline, L.P. – slide 10
    Significant Growth in Permian Tariff Volumes Expecting significant Y/Y Permian PAA Permian Tariff Volumes tariff volume growth mb/d 3Q18: volume growth moderated 4,000 +/- 3.8 mmb/d 3,880 3,734 as pace of completions slowed…
  11. November 2018 Investor Presentation – Plains All American Pipeline, L.P. – slide 11
    80% of 2.6 billion 2018/2019 Growth Capital Program Focused in the Permian Basin Aug. 2018 increased 2018/2019 capital program650mm, primarily driven by Permian infrastructure demand 2018/2019 Capital Program Mix Permian Take-away…
  12. November 2018 Investor Presentation – Plains All American Pipeline, L.P. – slide 12
    Solid Fee-Based Growth Through the Cycle Increasing Momentum into 2019 Drivers of PAAs fee-based growth visibility: L48 Onshore Benefit of completed projects & volume growth achieved in 2018 Crude Oil Segment Production Incremental…
  13. November 2018 Investor Presentation – Plains All American Pipeline, L.P. – slide 13
    Deleveraging Plan Remains On Track Combination of debt reduction & growth in fee-based Segment Adjusted EBITDA PAA close to targeted credit metrics as of 9/30/18 PAA Debt & Leverage Ratios ( billions) (Lev.) 12 6.0x Reduced total…
  14. November 2018 Investor Presentation – Plains All American Pipeline, L.P. – slide 14
    Distribution Management Status Report Upon completion of deleveraging plan in 1H19, expect to be in position to increase distribution Potentially as soon as the 1Q19 distribution payable May 2019 Factors Management and the Board…
  15. November 2018 Investor Presentation – Plains All American Pipeline, L.P. – slide 15
    Key Takeaways Long-term Constructive Industry Fundamentals & Growth Outlook Market is balancing, U.S. leading the growth Highly Integrated Asset Base & Business Model Linking key supply & demand markets Solid Fee-based Growth…
  16. November 2018 Investor Presentation – Plains All American Pipeline, L.P. – slide 16
    Appendix 3Q18 Earnings Update www.plainsallamerican.com NYSE: PAA & PAGP 17
  17. November 2018 Investor Presentation – Plains All American Pipeline, L.P. – slide 17
    3Q18 Earnings Call Highlights 3Q18 Delivered 3Q18 results ahead of our expectations Results (reported Adj. EBITDA of 636mm) Increased 2018 Adj. EBITDA Guidance 150mm to +/- 2.55B Outlook Provided preliminary 2019 Adj. EBITDA…
  18. November 2018 Investor Presentation – Plains All American Pipeline, L.P. – slide 18
    Increased 2018(G) & Updated Preliminary 2019(G) Historical data included for context 2018 Adj. EBITDA Guidance ( billions) Adj. EBITDA Profile 3.0 Adj. EBITDA: +/-2.55B Margin-based 2.5 Fee Based: +/- 2.2B Fee-based +/-0.35 S&L:…
  19. November 2018 Investor Presentation – Plains All American Pipeline, L.P. – slide 19
    www.plainsallamerican.com NYSE: PAA & PAGP 20

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