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First Quarter 2021 Presentation – Targa Resources Corp.

Targa Resources Corp. · May 6, 2021 · 14 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. First Quarter 2021 Presentation – Targa Resources Corp. – slide 1
    Targa Resources Corp. First Quarter 2021 Earnings Supplement May 6, 2021
  2. First Quarter 2021 Presentation – Targa Resources Corp. – slide 2
    Increasing FY2021 Financial Estimates 2021 Adjusted EBITDA is now estimated to be 13% higher than 2020 Financial Metrics Original Guidance Revised Outlook Change Adjusted EBITDA 1,675 - 1,775 million 1,800 - 1,900 million +7%…
  3. First Quarter 2021 Presentation – Targa Resources Corp. – slide 3
    Strategic Outlook Transformative growth program complete providing meaningful cash flow growth and improved returns Targas operations connect natural gas and NGLs to markets with Diverse increasing demand for cleaner fuels and…
  4. First Quarter 2021 Presentation – Targa Resources Corp. – slide 4
    Operational Performance Gathering & Processing Segment 1Q21 Highlights: Field G&P Natural Gas Inlet Volumes and NGL Production 4,500 600 Field G&P Natural Gas Inlet Volumes 4,000 500 Inlet Volume (MMcf/d) NGL Production…
  5. First Quarter 2021 Presentation – Targa Resources Corp. – slide 5
    Operational Performance Logistics & Transportation Segment 1Q21 Highlights: Grand Prix NGL Pipeline Volumes 400 NGL Transportation & Fractionation and LPG Export Services 350 The short-term operational disruption and impacts 355…
  6. First Quarter 2021 Presentation – Targa Resources Corp. – slide 6
    Financial Performance 1Q 2021 vs. 1Q 2020 Adjusted EBITDA Bridge Segment Operating Margin Gathering & Processing segment operating margin increased 19.4(1) million Logistics & Transportation segment operating margin increased…
  7. First Quarter 2021 Presentation – Targa Resources Corp. – slide 7
    Financial Performance 1Q 2021 vs. 4Q 2020 Adjusted EBITDA Bridge Segment Operating Margin Gathering & Processing segment operating margin increased 11.2(1) million Logistics & Transportation segment operating margin increased…
  8. First Quarter 2021 Presentation – Targa Resources Corp. – slide 8
    Business Mix 1Q 2021 Field Gathering & Processing Business Mix Logistics & Transportation Operating Margin 1Q 2021 Segment Operating Margin Operating Margin 1Q 2021 100% 100% 75% 75% 35% 50% 44% / 56% 50% 25% 25%…
  9. First Quarter 2021 Presentation – Targa Resources Corp. – slide 9
    2021 Business Mix & Risk Management Durable Earnings Power From Significant Fee-Based Margin Across Targa Businesses Business Mix 2021E(1) Fee-Based Profile 2021E(1) Gathering & Processing(2) Permian Basin Grand Prix Grand Prix…
  10. First Quarter 2021 Presentation – Targa Resources Corp. – slide 10
    Reconciliations
  11. First Quarter 2021 Presentation – Targa Resources Corp. – slide 11
    Segment Operating Margin Comparative Results G&P (MM) 1Q20 2Q20 3Q20 4Q20 Gross Margin 367.8 336.5 363.1 380.0 Operating Expenses 112.1 99.3 102.1 116.1 Operating Margin 255.7 237.2 261.0 263.9 L&T (MM) 1Q20 2Q20 3Q20 4Q20…
  12. First Quarter 2021 Presentation – Targa Resources Corp. – slide 12
    Non-GAAP Measures Reconciliation Reconciliation of estimated net income attributable to Full Year 2021E TRC to estimated Adjusted EBITDA (In millions) Net income attributable to TRC 435.0 Interest expense, net 375.0 Income tax…
  13. First Quarter 2021 Presentation – Targa Resources Corp. – slide 13
    Non-GAAP Measures Reconciliation Th Year Ended December 31, 2020 2019 (In millions) Reconciliation of Net Income (Loss) attributable to TRC to Adjusted EBITDA, Distributable Cash Flow and Free Cash Flow Net income (loss)…
  14. First Quarter 2021 Presentation – Targa Resources Corp. – slide 14
    Visit us at targaresources.com Contact Information: Email: InvestorRelationstargaresources.com Phone: (713) 584-1133 811 Louisiana Street Suite 2100 Houston, TX 77002

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