Investor Presentaiton

Targa's Premier Permian Asset Footprint Premier Permian supply aggregation position backed by significant acreage dedications from diverse producer group Multi-plant, multi-system Permian G&P footprint, complemented by Grand Prix and Daytona NGL pipeline integration and connectivity to natural gas residue takeaway pipelines Recent Delaware Basin acquisition further enhance systems across the Delaware and Midland Basins OTERO Legend Active Rigs Processing Plant DE BACA Processing Plant In Progress Crude Terminal Existing Gathering Pipeline NGL Pipelines High Pressure Rich Gas Gathering EDDY Delaware Basin AA 38 plants 7.4 Bcf/d Permian gas processing capacity(1) Midland capacity ~3.9 Bcf/d Delaware capacity ~3.6 Bcf/d Source: Enverus; rigs as of July 20, 2023. (1) Significant volume growth expected as a result of depth of Permian drilling inventory CULBERSON HUDSPETH JEFF DAVIS REEVES ROOSEVELT BAILEY LAMB HALE FLOYD MOTLEY COTTLE FOARD + COCHRAN HOCKLEY LUBBOCK CROSBY DICKENS KING KNOX A ים ים YOAKUM TERRY A 14 GAINES ANDREWS LYNN GARZA KENT STONEWALL HASKELL Midland Basin DAWSON BORDEN SCURRY FISHER JONES MITCHELL NOLAN TAYLOR HOWARD Central Basi Platform WINKLER COKE ECTOR GLASSCOCK ERLING RUNNELS PECOS TERRELL TOM GREEN CONCHO SCHLEICHER MENARD CROCKETT SUTTON KIMBLE Gross Targa gas processing capacity in the Permian Basin. Includes Greenwood plant expected in Q4 2023, Wildcat II plant expected in Q1 2024, Roadrunner II expected in Q2 2024, Greenwood II expected in Q4 2024, Bull Moose expected in Q2 2025 and the idling of the Sand Hills plant. TR TARGA INVESTOR PRESENTATION 14

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