Barclays CEO Energy-Power Conference New York September 3, 2014 www.plainsallamerican.com NYSE: PAA & PAGP 1
Plains All American Structure One Business - Two Ways to Invest (NYSE: PAA & PAGP) General Partner (1) General Partner Owners Public PAGP Class A Shareholders 21% Structured as a limited partnership, but has checked the box to be…
Plains All American Current Profile (NYSE: PAA & PAGP) Financial Profile(1) PAA Assets(3) Total Enterprise Value 49.1 B Pipelines (active miles) 18,150 miles PAA Equity Market Cap 21.3 B Liquids Storage 120 MMBbls PAGP et. al. Eq.…
PAAs Integrated Assets Are Located Throughout North America in Major Crude Oil Production & Liquids Rich Areas as well as Inland and Coastal Terminal & Interchange Locations PAA Handles 3.5 MMBLS/day of Crude Oil & NGLs…
PAAs Activities Are Conducted on Four Product Platforms Crude Oil is the Largest Areas of involvement Illustrative Adj. Net Revenue reflected in Yellow Crude Oil Contribution NGL 20% Crude oil 75% Natural Gas Liquids…
PAA Conducts its Activities Through Three Segments Each Underpinned by Substantial Assets Reporting Segments(1) Adjusted Segment Profit Supply & Logistics (Margin Based -- includes fee-based equivalent + upside) 840 Trucks, 980…
The Comprehensive Crude Oil System -- PAA is a Top Provider of Flexible Midstream Infrastructure in Major Growth Regions, Key Supply Aggregation Points & Market Hub Locations PAAs Comprehensive System provides: First mile,…
PAA Has Delivered Solid Performance Throughout Volatile Markets and Fluctuating Petroleum Supply and Demand PAA Adjusted EBITDA : Actual Performance vs. Guidance(1) Met or Exceeded Guidance for over 12 Years 2,400 (49 Consecutive…
North American Crude Oil Markets Current Environment is Very Attractive for PAA www.plainsallamerican.com NYSE: PAA & PAGP 10
US & Canadian Production Growth Expected to Continue Majority of Increase is Light / Medium Sweet & Condensate US & Canada Expected to Continue to Lead but, variations in crude quality & economics due to differentials the World in…
PAA is a Top Provider of Flexible Midstream Assets In Substantially All Major N.A. Crude Oil Resource Plays Volume Growth Driving Increased Infrastructure Requirements Projected North American Crude Oil Production Growth Western…
PAA Has a Sizable Presence in Most of the Major N.A. Crude Oil Market Hub / Demand Areas Including Rail PAA Also Has a Meaningful Presence in Key Natural Gas and Canadian NGL Market Hubs Summary of Capacity at PAA Facilities (all…
EXAMPLE 1 -- Permian Basin: PAAs Largest Asset Footprint; An Area of Significant Strength & Flexibility Direct Connectivity to Cushing, Corpus Christi and Indirect Connectivity to Houston/Other Markets Crude Oil Assets/Activities(1)…
EXAMPLE 2 -- Eagle Ford: Flexible Footprint Provides Pipeline, Rail and Barge Access Crude Oil Assets/Activities(1) Crude Oil Production (MBbls/d)(2) Expected JV Pipeline Capacity: 470 MBbls/d 1,825 +60% Area Pipeline Miles: 440…
PAA 2014 Expansion Capital Program Based on guidance furnished via Form 8-K on August 6, 2014 Expansion Capital (in millions) Other Projects Permian Basin Area Projects 480 Cactus Pipeline 350 Permian (1) Natural Gas Basin Area…
Recent Announcements: Diamond Pipeline 440-mile, 200 MBbls/d pipeline crude pipeline from PAAs Cushing, OK Terminal to Valeros Memphis Refinery Total project investment: 900 million Expected in service late 2016 Long-term shipping…
Recently Reached Agreement to Construct 535 MM Indigo Pipelines Provides Additional Long-term Supply for Rainbow System Cadotte Station Wabasca P/L Existing Rainbow System Acquired Rainbow PL in 2008 Capacity: 195,000 Bbls/d…
Solid Industry Fundamentals + Asset Base + Business Model Support Continued High Levels of Organic Capital Investment Annual Levels of Organic Investment 2,400 2,050 - Strong Visibility for 1,850 Growth 2,000 1,620 (In…
Long Term, Acquisitions Expected to be Additive to Organic Growth PAA Remains Active, but Disciplined Acquisitions Total: 10 Billion (2001-2014) 2.0 2006 2012 3.1B 2.3B 1.5 2007 2012 In billions Avg: 900 MM/yr 1.0 2001…
Capitalization & Liquidity One of the Strongest Balance Sheets Among Large Cap MLPs and Low Leverage at PAGP Capitalization (in millions) PAA PAGP Long-term Debt 7,414 7,940 Partners' capital 8,112 8,684 Total book…
Generating Meaningful Excess Cash Flow 2.2 Billion Excess Cash Flow Reinvested Over 11 Year Period (in millions) 11-Year DCF 9.4 billion 11-Year Distribution Coverage 131%(1) Favorable Market Conditions 1,800 1,600 1,400 24%…
Consistent Execution Of PAAs Strategy Has Driven Attractive Distribution Growth & Total Returns Over Multi-Year Period Annualized Year-end Distributions(1) Target Increased 39 out of last 41 quarters 10% Growth 2.75 2.50 2.40…
PAA/PAGP Investment Considerations Strategically located, geographically diverse & operationally flexible assets Well positioned to benefit from dynamic crude markets and service high-growth liquids resource plays Proven business…
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