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Investor Presentaiton

Increasing Investment Returns With Shorter Cash Cycle 2022E Growth Capital: $1.8 billion to $2.1 billion¹ لاس % of 2022E1 ENERGY TRANSFER • Grey Wolf and Bear high-recovery cryogenic processing plants • Efficiency improvements and emissions reductions projects Midstream • Modernization and debottlenecking of existing system ~40% • Permian Bridge Pipeline project (In Service) • Multiple gathering & processing and compression projects (primarily W. Texas, Northeast) • Gulf Run Pipeline project and new connection Interstate -25% • Multiple smaller projects • Mariner East Pipeline System (In Service) • Nederland LPG facilities (In Services) NGL & Refined Products • Mont Belvieu frac and storage facilities (In Service) -20% • Mont Belvieu Frac VIII • Multiple smaller projects . New Permian gas takeaway pipeline Intrastate • Oasis pipeline optimization ~7% • Multiple smaller projects • Ted Collins Link (In Service) Crude Oil • Cushing South Pipeline (In Service) ~7% • Multiple smaller projects Over 90% of 2022 capital is invested in projects already online or expected to be online and contributing cash flow before the end of 2023 1. Other segment growth capex makes up ~1% of 2022E growth capital 9
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