Investor Presentaiton
Hydrocarbons Remain Critical to Supply Global Energy Demand
North America key to global supply response
■ Tight global energy markets highlighting need for security of global supply
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Global demand approaching pre-COVID levels, against a backdrop of prolonged reduction in upstream
investment & continued OPEC discipline
Commodity prices responding
■ North American energy supply key to global demand; Permian positioned to drive growth
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North America offers most responsibly produced hydrocarbon supply available
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U.S. short-cycle shale among most economic and well positioned supply options available
Permian positioned to drive vast majority of U.S. short-cycle production growth in 2022 and beyond
■ Plains positioned to generate significant +FCF, reduce debt, increase cash returned
to equity holders
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Significant operating leverage, positioned to capture Permian growth
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