Targa Resources Corp. J.P. Morgan Energy, Power & Renewables Conference June 22, 2021
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…
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…
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…
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;…
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…
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…
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…
Integrated Infrastructure Platform
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)…
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…
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…
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…
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…
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…
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…
Financial Highlights
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%…
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…
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)…
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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