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Investor Presentaiton

Strong Investment Returns With Shorter Cash Cycle 1. 2023E Growth Capital: ~$2 billion لاس % of 2023E ENERGY TRANSFER • Bear high-recovery cryogenic processing plant • New treating capacity in the Haynesville Midstream -40% • Efficiency improvements and emissions reduction projects Multiple gathering & processing and compression projects (primarily WTX, STX, Northeast) • Mont Belvieu Frac VIII • Mont Belvieu fractionation and storage facilities optimization NGL & Refined Products • Nederland LPG facilities optimization -30% Nederland NGL expansion • Multiple smaller projects • Compression and optimization projects on existing pipelines Interstate • New Gulf Run customer connections -15% • Multiple smaller projects • Projects associated with Lotus acquisition Crude -10% • New customer pipeline connections • New customer pipeline connections Other¹ ~5% • Other includes the Intrastate and All Other segments Compression and optimization projects on existing pipelines 2023E Maintenance Capital: $740mm - $790mm 20 20

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