2020 ANNUAL MEETING OF STOCKHOLDERS M AY 1 2 , 2 0 2 0
2016-2019 Transformation Recap FINANCIAL OPERATIONS PORTFOLIO STRATEGY Capital discipline; Optimized model Completed 19B Robust strategic significant free cash for development of asset sales planning for long-term flow generation…
And Then Along Comes 2020 CURRENT FOUNDATIONAL POSITIONED FOR REALITIES PRINCIPLES PRUDENT RESPONSE Unprecedented Strong balance sheet simultaneous supply and demand shocks BALANCE SHEET Significant cash STRENGTH and liquidity…
Actions Taken to Address Market Conditions As of May 1, 2020 Exercising capital, operating cost and distribution flexibility Will not compromise safety or asset integrity Dividend is a priority Suspended the share repurchase program…
6
R YA N L A N C E CHAIRMAN AND CEO
Q&A
2020 ANNUAL MEETING OF STOCKHOLDERS M AY 1 2 , 2 0 2 0