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Investor Presentaiton

U.S. LPG Supply Expected to Keep Price Competitive U.S. Propane Production Remains Healthy 2.8 2.6 2.4 MM bbl/d 1.8 1.6 1.4 2 2 2 2 2 2 2 2.2 2.0 1.2 J F M A M J J A S N 5-yr Range 2022 2023 Growing Inventories Encourages Near-Term Propane Exports 120 MMbbl 100 80 60 60 40 20 20 ם • . • U.S. propane production averaged record levels of around 2.4 MMbbl/d in 2022 2022 PADD III production has averaged 1.5 MMbbl/d, up 10% Y/Y 2023 YTD production volumes have averaged 2.4 MMbbl/d, 2% lower than 2022 YTD J F M A M J J A S ON D 5-yr Range 2022 -2023 Source: EIA Note: As of January 20, 2023 Inventories saw close to nine months of builds from decreased seasonal demand and higher production Inventories stand at 75.6 MMbbls, 27% above the five-year average 15
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