Investor Presentaiton
2022 Outlook Supported by Strong Core Business
ET 2022E Adjusted EBITDA $12.8 - $13.0 billion
2021 to 2022 Adjusted EBITDA Drivers
+ Enable Acquisition
+ NGL pipeline and export activities
+ NGL / gas prices
- Lower asset optimization
- Rising costs
+ Organic Projects
+ Orbit Ethane Export Terminal
+ Nederland LPG Expansions
+ Mariner East Pipeline System/PA Access
+ Permian Bridge
+ Cushing South
+ Bakken optimization project
1.
Spread margin is pipeline basis, cross commodity and time spreads
2.
Fee margins include transport and storage fees from affiliate customers at market rates
2022E Adjusted EBITDA Breakout
Spread¹
0-2.5%
Commodity
10-12.5%
Fee²
-85-90%
Pricing/spread assumptions based on current futures markets
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ENERGY
TRANSFER
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