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Credit Suisse Global Energy Conference – Targa Resources Corp.

Targa Resources Corp. · Jul 9, 2021 · 24 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. Credit Suisse Global Energy Conference – Targa Resources Corp. – slide 1
    Targa Resources Corp. 2021 Credit Suisse Global Energy Conference June 9, 2021
  2. Credit Suisse Global Energy Conference – Targa Resources Corp. – slide 2
    Premier Midstream Infrastructure Company Integrated assets that connect natural gas and NGL supply to domestic and international demand markets Substantial natural gas gathering & processing in multiple basins 8.2 Bcf/d gross…
  3. Credit Suisse Global Energy Conference – Targa Resources Corp. – slide 3
    ESG Environmental, Social, Governance Targa is part of the energy infrastructure that is delivering safe, reliable energy to communities across America Environment & Safety Social We are committed to We respect the individual…
  4. Credit Suisse Global Energy Conference – Targa Resources Corp. – slide 4
    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…
  5. Credit Suisse Global Energy Conference – Targa Resources Corp. – slide 5
    Growth Transformation Complete Improving FCF Profile Increasing FCF positions Targa to continue to execute long-term strategy of reducing leverage over time Transformation of asset footprint from growth capital investments is complete;…
  6. Credit Suisse Global Energy Conference – Targa Resources Corp. – slide 6
    Financial Position and Leverage Outlook Continuing to strengthen the balance sheet remains a key priority Available Liquidity (B)(1) Senior Note Maturities (B) Continued Leverage Reduction 3.5 1.4 6.0x 1.2 3.0 1.2 3.0 1.0…
  7. Credit Suisse Global Energy Conference – Targa Resources Corp. – slide 7
    Targa Development Company Joint Ventures (DevCo JVs) Repurchasing the DevCo interests would provide additional EBITDA growth at an attractive multiple FY2021 Adjusted EBITDA estimate between 1.8B - 1.9B does not include any EBITDA…
  8. Credit Suisse Global Energy Conference – Targa Resources Corp. – slide 8
    Integrated Platform Supports Fee-Based Profile Durable earnings power from significant fee-based margin across Targa businesses Segment Business Mix 2021E(1) Fee-Based Profile 2021E(1) Gathering & Processing(2) Permian Basin Grand…
  9. Credit Suisse Global Energy Conference – Targa Resources Corp. – slide 9
    Integrated Infrastructure Platform
  10. Credit Suisse Global Energy Conference – Targa Resources Corp. – slide 10
    Permian Basin is a World-Class Resource Targas leadership position in the Permian and integrated platform provide reliable access to NGL hub in Mont Belvieu Permian Oil Production Holds Largest Share of Total U.S. Shale Supply(1)…
  11. Credit Suisse Global Energy Conference – Targa Resources Corp. – slide 11
    Targas Premier Permian Asset Footprint Super-system across the Midland and Delaware Basins with significant access to NGL supply Legend Active Rigs Processing Plant Processing Plant In Progress Multi-plant, multi-system Permian…
  12. Credit Suisse Global Energy Conference – Targa Resources Corp. – slide 12
    NGL Production Feeds Logistics & Transportation Assets Grand Prix NGL Pipeline connects and directs significant NGL volumes to Targas fractionation complex in Mont Belvieu Significant NGLs from Targa Permian Plants Grand Prix NGL…
  13. Credit Suisse Global Energy Conference – Targa Resources Corp. – slide 13
    NGL Market Hub With Global Reach Logistics assets exceedingly difficult to replicate, fee-based businesses, with significant take-or-pay Premier Fractionation Ownership Position in Mont Belvieu LPG Export Services Business Connects to…
  14. Credit Suisse Global Energy Conference – Targa Resources Corp. – slide 14
    Targa Sustainability and ESG Our operations are essential to the delivery of energy safely and reliably for everyday life Targas operations connect natural gas and NGL to markets with growing demand for cleaner fuel and…
  15. Credit Suisse Global Energy Conference – Targa Resources Corp. – slide 15
    Demand for Natural Gas Continues Domestically and Globally Targa helps deliver efficient and reliable energy to the U.S. and to the rest of the world Abundant natural gas supply has provided the U.S. and the world with a source of…
  16. Credit Suisse Global Energy Conference – Targa Resources Corp. – slide 16
    Targa is Well-Positioned to Support Global Energy Needs Targas facilities exported 4.6 billion gallons of LPGs globally in 2020 and helped reduce global CO2 emissions Through its integrated asset platform, Targa directs its growing…
  17. Credit Suisse Global Energy Conference – Targa Resources Corp. – slide 17
    Financial Highlights
  18. Credit Suisse Global Energy Conference – Targa Resources Corp. – slide 18
    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%…
  19. Credit Suisse Global Energy Conference – Targa Resources Corp. – slide 19
    Risk Management Hedging program and credit risk management framework further strengthens cash flow stability 2021 Hedges 2022 Hedges Commodity Price Sensitivity(4) Volumes Exposure Wtd. Avg. Volumes Exposure Wtd. Avg. Price 2021E Adj…
  20. Credit Suisse Global Energy Conference – Targa Resources Corp. – slide 20
    Reconciliations
  21. Credit Suisse Global Energy Conference – Targa Resources Corp. – slide 21
    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…
  22. Credit Suisse Global Energy Conference – Targa Resources Corp. – slide 22
    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…
  23. Credit Suisse Global Energy Conference – Targa Resources Corp. – slide 23
    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)…
  24. Credit Suisse Global Energy Conference – Targa Resources Corp. – slide 24
    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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