Investor Presentaiton
Attractive Valuation Even With Strong YTD Performance
01/01/22
01/16/22
01/31/22
02/15/22
03/02/22
YTD Stock Price Performance¹
03/17/22
04/01/22
04/16/22
05/01/22
05/16/22
Energy Transfer
my
05/31/22
06/15/22
06/30/22
07/15/22
07/30/22
08/14/22
08/29/22
09/13/22
09/28/22
10/13/22
10/28/22
11/12/22
11/27/22
Alerian MLP Index
-5%
LTM EV/EBITDA²
14
51%
~3x lower multiple than peer median
12
26%
10
2
4
9
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روس
0
Company
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ET
B
Company Company Company Company Company Company Company Company Company
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Recent outperformance with additional growth expected to drive further value
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As of 12/1/2022
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Source: Bloomberg; EV = Current market cap + preferred equity + minority interest + net debt; EBTIDA = TTM Adjusted EBITDA
Peer group includes ENB, EPD, KMI, MMP, MPLX, OKE, PAA, TRGP, TRP, WMB
6
ENERGY
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