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Fourth Quarter 2019 Earnings and 2020 Guidance Supplement – Targa Resources Corp.

Targa Resources Corp. · Feb 20, 2020 · 15 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. Fourth Quarter 2019 Earnings and 2020 Guidance Supplement – Targa Resources Corp. – slide 1
    Targa Resources Corp. Fourth Quarter 2019 Earnings & 2020 Guidance Supplement February 20, 2020
  2. Fourth Quarter 2019 Earnings and 2020 Guidance Supplement – Targa Resources Corp. – slide 2
    2019 Execution Highlights Strong operational and financial performance Operational Permian G&P full-year average inlet volumes increased 32% over 2018 Total Field G&P full-year average inlet volumes increased 15% over 2018 Mont…
  3. Fourth Quarter 2019 Earnings and 2020 Guidance Supplement – Targa Resources Corp. – slide 3
    Strategic Outlook Focus on Operating our Business and Assets More Efficiently Continue to focus on safety and improvement across all Targa business functions Optimize across individual assets and our integrated business from G&P…
  4. Fourth Quarter 2019 Earnings and 2020 Guidance Supplement – Targa Resources Corp. – slide 4
    Operational Performance G&P Segment 4Q19 Highlights: Field G&P Natural Gas Inlet Volumes and NGL Production Field G&P Natural Gas Inlet 4,500 600 9% sequential increase in Permian volumes 4,000 NGL Production (MBbl/d) 500…
  5. Fourth Quarter 2019 Earnings and 2020 Guidance Supplement – Targa Resources Corp. – slide 5
    Operational Performance Downstream Segment 4Q19 Highlights: Targa Fractionation Volumes 700 NGL Transportation 600 Throughput (MBbls/d) Targas Grand Prix NGL Pipeline throughput deliveries into Mont Belvieu 597 500 averaged…
  6. Fourth Quarter 2019 Earnings and 2020 Guidance Supplement – Targa Resources Corp. – slide 6
    Financial Performance 4Q 2019 vs. 4Q 2018 Adjusted EBITDA Bridge 600 550 500 450 400 350 millions 300 250 200 150 100 50 0 (1) 4Q18 EBITDA G&P G&P Downstream Downstream G&A Non-Controlling 4Q19 EBITDA…
  7. Fourth Quarter 2019 Earnings and 2020 Guidance Supplement – Targa Resources Corp. – slide 7
    Financial Performance 4Q 2019 vs. 3Q 2019 Adjusted EBITDA Bridge 500 450 400 350 300 millions 250 200 150 100 50 0 3Q19 EBITDA G&P G&P Downstream Downstream G&A Non-Controlling 4Q19 EBITDA Gross Margin Opex…
  8. Fourth Quarter 2019 Earnings and 2020 Guidance Supplement – Targa Resources Corp. – slide 8
    Business Mix 4Q 2019 Field Gathering & Processing Business Mix Downstream Operating Margin 4Q 2019 Segment Operating Margin Operating Margin 4Q 2019 100% 100% 75% 75% 65% 35% 50% 50% 50% / 50% 25% 25% 0% 0% SouthTX &…
  9. Fourth Quarter 2019 Earnings and 2020 Guidance Supplement – Targa Resources Corp. – slide 9
    2020 Financial and Operational Outlook
  10. Fourth Quarter 2019 Earnings and 2020 Guidance Supplement – Targa Resources Corp. – slide 10
    2020 Financial and Operational Estimates Financial Estimates FY 2020E +18%(3) increase in YoY Adjusted EBITDA driven by full year contribution ( in millions, unless otherwise noted) from projects online in 2019 and contribution from…
  11. Fourth Quarter 2019 Earnings and 2020 Guidance Supplement – Targa Resources Corp. – slide 11
    2020 Net Growth Capex Estimate Capital Expenditure Estimates FY 2020E ( in millions, unless otherwise noted) Net Growth Capital Expenditures 1,200 - 1,300 Gathering & Processing (1) 700 Logistics & Transportation (Downstream)…
  12. Fourth Quarter 2019 Earnings and 2020 Guidance Supplement – Targa Resources Corp. – slide 12
    2020 Business Mix and Hedging Program Business Mix and Fee-Based Profile(1) Business Mix 2020E Fee-Based Profile 2020E Permian Basin Fractionation Gathering & Processing(2) Fractionation Bakken Grand Prix 80% 50% / 50% Grand…
  13. Fourth Quarter 2019 Earnings and 2020 Guidance Supplement – Targa Resources Corp. – slide 13
    Appendix
  14. Fourth Quarter 2019 Earnings and 2020 Guidance Supplement – Targa Resources Corp. – slide 14
    (1) Non-GAAP Reconciliations - Estimated 2020 Adjusted EBITDA The following table presents a reconciliation of estimated Adjusted EBITDA for the periods shown for TRC: Reconciliation of estimated net income attributable to Full…
  15. Fourth Quarter 2019 Earnings and 2020 Guidance Supplement – Targa Resources Corp. – slide 15
    Visit us at targaresources.com Contact Information: Email: InvestorRelationstargaresources.com Phone: (713) 584-1000 811 Louisiana Street Suite 2100 Houston, TX 77002

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