Financial Framework and Capital Discipline

Sustained Dividend Growth Through Capital Discipline Target Payout Range 50%-70% of Distributable Cash Flow³ 7% DCF/sh CAGR1,3 (since '08) Financial Crisis 6% Dividend/sh CAGR³ (since '08) DCF/sh³ Portion of DCF/sh³ paid as Dividends Net debt to adjusted EBITDA2,3 Commodity Price Collapse COVID-19 Pandemic DCF/sh³ $2.95 $1.92 Dividend/sh MAINTAINED 2.9x STRONG 2.2x 1.9x 2.0x 2.0x 2.0x 2.2x 2.3x 2.5x 2.3x 2.6x 2.2x 2.4x 2.5x BALANCE 1.2x SHEET 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 See slide 22 for notes regarding this slide Net debt to adjusted | EBITDA 2,3 ΟΙ 6

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