Investor Presentaiton

◉ Committed Permian Acreage & Term Supply Supports Long-Term Volume Security & Operating Leverage on Plains' Systems High-quality, long-term committed acreage dedicated to Permian JV gathering systems - ~4mm acres, ~6.5-yr wtd. avg. term Producer Profile: ~80% Public / -20% Private (acreage weighted) Multi-decade inventory life, vast majority with projected IRR of 25% - 50%+ (~$50 / Bbl WTI) in both Delaware & Midland Basins ■ 1st purchase lease supply: ~1.1 mmb/d, >80% term contracted Note: Plains' gathering business is conducted through our 65% ownership in the Plains Oryx Permian JV. Permian JV Gathering (other Plains assets in grey) 9

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